Business plan of M/s HAVELL’s Bangladesh.

Business Idea:More frequently used sources of ideas for new entrepreneurs include consumers,

distribution channels, research and development and so on.

I am trying to introduce HAVELL’s to our country from India, so thereby acting like entrepreneur as distributor. New ideas of lights and fans are excellent because of our familiarity with needs of the market. And also help in marketing the entrepreneurs newly developed lights and fans.

My idea was first generated by my senior brother Palash Bahi who is Graduate from Khula BIT on EEE (Electronics and Electrical Engineering). He has been working in an Engineering Firm for couple of years. He has been recently made an analysis of demand of energy-saving-home-appliances and found that it would be a great idea to sale energy saving products to our country. He told his brother Mr. Jewel who is a student of Department of Finance. He told his brother’s idea to his friends then a group of seven people is made who wanted to implement the idea. I followed brainstorming process to make the business idea into a viable one. The process can be summarized below:

No negative comments made by my group of friends during the brainstorming session.

Improvements and Combinations of ideas are encouraged to finding other contingency strategies.

Finally, I decided to import the energy saving HAVELL’s- light and Fan and sale it to our domestic consumers.

As distributor of HAVELL’s, I will introduce lights and fans to the domestic consumers. For this purpose, I will form a partnership organization. It’s quite normal to be unconscious of the problem that may arise to implement the project. So to overcome these problems I tried to build the overall business plan by discussing with my close friends. It ensures that the

solution is not concluded by preconceived ideas and behavioral patterns because the business environment is continuously changing. I started with a general concept associated with the idea emphasizing on the marketing effort in the way that make me closer to consumers demand by exploring that- my products quality is best due to life-time at a reasonable price.

Financial Projections:

M/s HAVELL's Bangladesh” expects to be a profitable organization by the 3rd year. Such expectation is made based on the following assumptions.

← 1. Growth will be moderate, cash balance always positive. ← 2. Marketing will remain at or below 15% of sales.

← 3. “M/s HAVELL's Bangladesh” will invest residual profits into organization’s expansion and personnel.

We predict advertising costs and consulting costs will go up in the next three years. Normally, a start-up concern will operate with negative profits through the first two years. We expect to avoid that kind of operating loss by knowing our competitors, our target markets, industry direction, and the products we sell.

Objectives

1. To make the people of our country ease with the electronically product that are low in price.

2. To attain the largest market share of such type of industry.3. To achieve a net profit by year two.

Keys to Success

To succeed in this business we must:

1. Be 100% conscious as to the product quality and delivery of services2. Perform as much promotional activities as possible. 3. Provide for the satisfaction of 100% of our customers and vendors. We will design a

customer care plan to manage complaints, implement employee and customer feedback, manage supplier accounts, and predict potential conflicts.

4. Perform social responsibility of a business organization. In this way we will be able to create a favorable image of our firm.

Firm Overview:

Legal name : M/s HAVELL's BangladeshBusiness Address : 104, Gulsan 2, Dhaka 1100

Phone : +8807658745

Web Site : www. M/s HAVELL's Bangladesh.com

E-mail : feedback@ M/s HAVELL's Bangladesh .com Description of Business : Franchising with HAVELL of India. As a distributor of Electronic

Products

Government Regulations : BSTI & ISO Approved

Business environment:

The business environment that affects my venture is characterized below-1. Demographical environment:

In the current aspect I have considered that the middle and old-middle aged person is concerned to save their income. So they would want the energy saving electronic goods.

2. Economical environment:GDP: the agro based GDP growth of the country in the present fiscal year is

about 8% and the current GDP growth rate is 6.5% and expected to grow at a higher than this rate in year 2006. So, the economic growth is very excellent in the country and hence we can capitalize upon the fact i.e. demand for goods increasing.

Source: Bangladesh Bureau of StatisticsGraph: GDP growth.

Inflation: As the inflation rate is about 7% in the previous fiscal year, the people are in want to save their income consume the necessary goods. The energy saving lights and fans we save their income and would help to consume more upon the essential goods. My product has this benefit.

3. Cultural and social environment:The city and sub-urban life of the country is upon the electricity. But the urban

area is not likely to that extent. So the culture of the country is not enough to judge the venture.

4. Political environment:

There is huge political uncertainty in the country. So we have to face the political uncertainty to be successful. It is my risk of starting an on going business.

5. Legal environment:

Legal environment is about good because the order and law situation is quite good with the activity of “QUICK JUDGEMENT TRIBUNAL” and “RAB”.

Industry AnalysisAfter performing macroeconomic analysis that is scanning business environment, I

tried to perform industry analysis.

My industry is electronics and electrical industry. Demand for consumer electrical appliances is highly related to Business cycle. As

income of people of Bangladesh increases, the expenditure on this sector also increases.

There are main 3 factors which makes the electronics and electrical industry volatile to business cycles.

1. Operating leverage of my firm: The degree of operating leverage low as our firm is dependent on variable cost i.e. labor, transportation, and marketing expenses. So, at the time of economic recession, I have to cut variable cost thus to adjust to the macro economy. But the degree of operating leverage is 4 which is fair enough to generate profit at the increase sales.

2. Sector rotation: sector rotation is a process of forecasting and investing based on economic activity overtime. At present our economy is expanding, at the time of expanding this might be a good time to invest in consumer durables and luxury items.

Figure: sector rotation and current situation of Bangladesh.

It is forecasted that our economy is expanding as our GDP growth is about 6.5% in the year 2005 and the rate is expected be higher in the next year. So our economy is slowly

Time

Economic activity

Peak Peak

Contraction Expansion

Bangladesh is here now

reaching it peak. SO, my firm has potential growth in terms of sector rotation i.e. our investment timing is good.

3. Industry life cycle: we have to determine the industry growth. We know there are four stages of an industry and the growth is determined in terms of sales. This electronic and electrical industry has a slowing growth as the following graph shows

Sales

Fig: Position of electronics industryThough this electronics industry has l0% growth rate but our product is new to the market so we expect that this firm has an increasing growth as it is a modified product. Other factors of industry analysis- industry structure and entry:

Threat of entry: there is no such type of barrier in this industry. So, potential competition may arise.

Rivalry between existing companies: there is competition of producers of fans and lights among Navana, Swan, Padma fan but most of the fans are of less longevity. If we penetrate in the market there is a possibility that my product will be replicated so, in my industry there is stiff competition.

Pressure from substitute product: there are varieties of non-energy saving product in the market so pressure of substitute product is strong.

Project selection

I have selected the project upon the observation of the following steps_

1. Identification of project ideas:

Whenever in the very start of the brainstorming process of I myself and some of my friend have identified the following project ideas to carry on and also to have under consideration for further study whether those are possible or not-

Rapi

d &

incr

eain

g gr

owth

Slowing growth

Stable Growth

Negative growth

Electronics and electrical industry is here now (10% growth rate)

i. Foodii. Home electronic & appliance

iii. Fashion houseiv. Furniture mart.

2. Evaluation of the project ideas :

For the evaluation of the project ideas we have made macro screening. The working of the doings and further comment are presented below:

Sl no

Name of project

Macro environment element Total ranking

popu

latio

n

econ

omic

al

natu

ral

tech

nolo

gica

l

politi

cal

Soci

al

and

cultu

ral

Lega

l

1. Food 4 3 3 2 2 4 2 20 4th 2. Home

electronic & appliance

4 4 3 4 5 5 4 29 1st

3. Fashion house

3 3 4 3 2 4 2 21 3rd

4. Furniture mart

3 3 4 5 2 4 3 24 2nd

Table: Macro screening

Legend: 5 = excellent4 = very much satisfactory3 = satisfactory2 = good1 = unsatisfactory

Comment:From the above illustration we can observe that on the basis of the total

number given upon the macro environment elements, we can have the findings that home electronics and appliance gets the priority and hence we have selected the project to go on.3. Project feasibility study:

Under the project feasibility study, I have done the followings-

I. Market feasibility: the market feasibility study of the report shows the potential market and the share to be captured by our venture.

Its main focus would be the middle class people of the country. In the beginning phase of the venture we would focus the Dhaka city and then in the expansion phase we would go to the other district of the country.

II. Technical feasibility: I have found that the technical viability of the goods is about impossible. For this I have taken the step that I should import the goods from HAVELL’s India limited in a franchise and would sell it to the market rather then operating the production process in Bangladesh.

III. Commercial feasibility: in the evaluation of the commercial feasibility study I have done the followings_

Estimating the project cost:

The project fixed cost = 10, 50, 75,000Variable cost = VC is 60% of the annual sales figureEstimating the income statement:

The financial pro forma statement of the report shows the estimated net income which is positive for the consecutive 3 year period.

IV. Financial feasibility: Means of project financing:

In this project I have used 20, 00,000 tk. Of equity and 30, 00,000 of bank loan. So the capital structure is 40:60. I have also shown that the WACC is 14% for the venture.Sl no

Name of project

Micro environment element Total

Rank

ing

Mar

ket d

eman

d

Raw

m

ater

ials

av

aila

bilit

y

Skill

ed

labo

r av

aila

bilit

y

tech

nolo

gica

l

Capi

tal f

und

Profi

tabi

lity

Risk

1. Home electronic appliance

5 4 3 4 4 5 5 30 1st

2.. Fashion house

5 4 1 2 3 4 3 22 2nd

3.. Furniture mart

4 3 2 4 3 3 2 21 3rd

Table: Micro screeningLegend: 5 = excellent4 = very much satisfactory3 = satisfactory2 = good1 = unsatisfactory

Comment:

From the above illustration we can observe that on the basis of the total number given upon the micro environment elements, I can have the findings that home electronics and appliance gets the priority and hence I have selected the project to go on.4. Project selection:

From the above procedure I have taken the home electronics and appliance to carry on as my venture in the present ever changing

Organizational PlanName of the firm: the name of the firm is -´M/s HAVELL’s Bangladesh”. It will be a partnership firm in nature. But it is a franchising business with the India’s Havells Electronics Company limited.Basic operation: Main operation of this business is to introduce the Well-known HAVELL’s product to Bangladeshi consumers. I will start business by getting license of distributorship from HAVELL’s India.Goal of the Business: The commitment of this business is to product excellence and providing world class quality products at affordable prices. It will provide environment friendly and cost saving product to the customers and its product are lighting furniture and Home appliances.

The Management of the Firm

The overall management of the firm will be vested on the Chairman of the company, who shall remain as the Chief Executive of the company. The Managing Director shall be responsible for all executive works. The company will employ one Chief Operating Officer (COO) to supervise and execute the day to day operation. The Chairman, the Managing Director along with the COO shall be responsible for policy formulation and COO will be in complete in-charge of execution. All day-to-day works shall also be supervised of by the Managing Director himself. Required skilled Managers and other skilled manpower shall be recruited to carry out all daily activities.

Back-ground of the COO

Mr. MNP Chowdhury, Chief Operating Officer of ABC is a renowned top level Executive in the business arena of Bangladesh. Mr. Chowdhory has completed his Honors and Masters in Economics and afterwards he has done MBA from IBA. Mr. Chowdhury started his career in the Financial sector –ICB, ** Bank. During this tenure of banking service, he was for evaluating bank’s credit / asset portfolio, making central database for monitoring credit / asset portfolio with the aid of office automation devices, extending services to corporate clients.

After gaining financial sector experience, he switched to a Korean company – XYZ Limited in a Senior Management position since the inception of the project. Mr. Chowdhury was involved with the setting up of the project of about 33 Million. Eventually at XYZ, he had to look after the production as well as marketing activities in a General Manager’s capacity. He was responsible to maintain all sorts of liaison with world renowned international buyers like Nike, Tommy Hilfiger etc.

Mr. Chowdhury always loves to take challenge. After successfully running the operations of XYZ, he just thought the experience in the production sector is enough. So he joined *** Group as a General Manager and COO. Here he picked up so quickly that within a short span of time he could establish

himself as a leading marketer of Textile and RMG machinery.

For the nature of his job, Mr. Chowdhury had to travel a lot throughout the world.

There is no doubt that with the unique blending of education (Honors and Masters in Economics and MBA from IBA) and experience (Finance, Production, and Marketing), Mr. Chowdhury has made him most competitive and desirable top level executive in all type of organization.

Particulars of the Directors:Chairman Name : Mr. DFG AhmedStatus in the Company : President and Chief Executive of the Company.Father's Name : Educational Qualification : Graduation in Finance, University of Dhaka, CPA from USA.Business Experience : 15 years of experience in the business line. Significant knowledge

in the financial aspect of any business planning.Managing Director

Name : Mr. SER AhmedStatus in the Company : Managing DirectorFather's Name : Educational Qualification : School Graduation, United States; Bachelors Degree, Bangladesh.Business Experience : Currently working in the Texas Group concerns as Managing

Director, expert in operative issues.Group Profile in Brief:

Administrative & Operating Employee:

For smooth functioning of the day-to-day affairs and managing the operation of the proposed project, a total of 60 manpower of different level has been estimated to be required, of which 20 will be involved with general & administrative works and rest 40 will be involved with Distribution & maintenance of the product as direct labor.

Credit worthiness of the Company

The sponsors are fine gentlemen of good business acumen. They are quite capable of running the business at much higher volume than the proposed one and hence having quite a large future prospect. They are not defaulted with any other bank or any other financial institution. Over and above they are also capable of providing the collateral coverage for the proposed loan amount from their own personal assets.

Description of Partnership: we are seven partners in the business each contributing 3 lakh taka in the business. Total capital would be 50 lakh taka. Among which owners equity 21 lakh and 29 lakh would be raised by bank loan.

Profit and loss sharing: each partner will receive 20% of the profit and loss. Additional capital: The member who will provide additional capital will get 9%

interest on the additional capital. Salaries to the partners: we all members agreed to render full-time services to the

business. So we will take 20 thousand taka each member as well from the profit also.

In the first three year we wouldn’t take any salary though the business generates profit. We will invest the money in the business expansionary purposes.

Others conditions will be applied as per the partnership contract and mutual understanding

Background of Partners:

1st partner: Md.Mazharul Islam (myself) - active partner. B.B.A. (Mgt) 10th batch. He is assistant MD/ Vice Chairman. He will look after Dhaka division. His main responsibility is to network the entire department in a balanced way.

2nd partner: Md. Nasir Uddin– active Partner. B.B.A. (Mgt), 10th batch, Dhaka University. He is the assistent General Manager. He is the Chief Accounting officer (CAO). His responsibility is also to negotiate with the HAVELL’s India.

3rd partner: Md.Zahidul Islam- active partner. B.B.A. (Mgt) 10th batch, Dhaka University. He is the Chief financial officer (CFO)

4th partner: Asfaqur Rahaman - active partner. B.B.A. (Mgt), Dhaka University. He is the Chief Officer of Human resource (COHRM).

5th partner: MD. Afnan Bin Abdullah - active partner. BBA (Mgt) 10th batch, Dhaka University. He is the Chief Marketing officer (CMO). His responsibility is also to build up a harmonious communications with dealers and all the departments.

6th partner: MD. Ibrahim Hawladar -active partner. Completing BBA (Mgt) from

Dhaka University. She will look after the customer care department. His responsibility is to create and maintain good relationship with customers.

Head office: The head office will be located in Dhaka. We are planning to rent a small office at Gulshan with a warehouse. The space of the office will be 1200 square feet at a cost of tk20 lakh in advance and taka 40000 every month for the rent.

Operational areas: our operations in the first year will be in capital and it will be operated by the Head office. Then we shall flourish our business in the divisional areas. In the each division dealers will be engaged to operate the sales in each divisional area. They will supply the retailers and ultimately to the consumers.

Size of the business: At first our firm will be expected to start as Medium enterprise. The total number that we will try to capture is. We have a goal to reach our partnership to a large scale of business i.e. Limited company if we became successful in the initial years. -

´M/s HAVELL’s Bangladesh”. Expects to be a profitable organization by the 3 rd year. Such expectation is made based on the following assumptions.

← 1. Growth will be moderate, cash balance always positive. ← 2. Marketing will remain at or below 15% of sales.

← 3. “´M/s HAVELL’s Bangladesh” will invest residual profits into organization’s expansion and personnel.

We predict advertising costs and consulting costs will go up in the next three years. Normally, a start-up concern will operate with negative profits through the first two years.

We expect to avoid that kind of operating loss by knowing our competitors, our target markets, industry direction, and the products we sell.

Office and equipment: From the capital we buy equipments for the office and for the warehouse. The equipments are- 2 Pc, 2 fire extinguishers, one generator and other electrical equipments to protect the inventory in warehouse.

Transportation: we will buy one truck to import the good from India. And we will send the goods to the showrooms in the four divisions by hiring mini-trucks and also by our owned truck. It is negotiated that HAVELL’s India will provide transportation if we can prove that demand and profit.

Personnel and management: Though our firm is a medium size enterprise, our management team is very strong, energetic and experienced. As most of our business function around distributorship, we need most of the Personnel to distribute the good from Dhaka to other areas. The organizational table is shown here:

Each division is

monitored by seven partners except the G.M. At each showroom is controlled by one officer under whom 4 peoples will be worked.Organizational Chart:

Workers Number of workers 1. Directors i.e. Partners2. General manager 3. Assistant GM4. Managing director5. Assistant Manager6. Officers 7. workers

611111040

Total 60

PresidentMr. DFG Ahmed

Managing Director

Administrative Manager

Assistant MD

Vice-presidentMd.Mazharul

Chief Financial officer

General Manager

Assistant GM

Sales and Distribution manager

Figure: organizational Chart

Distribution Chart:

THERE MAY BE BROKERS BETWEEN DEALERS AND RETAILERS.

M/S HAVELL’s

Bangladesh

Dhaka dealerNo of dealer-2

Operation leader-

Chittagong dealer

No of dealer-1Operation leader-

Khulna dealerNo of dealer-1

Operation leader-

Barisal dealerNo of dealer-1

Operation leader-

Rajshahi dealerNo of dealer -1

Operation leader-

Retailers Retailers Retailers Retailers Retailers

End users -Customers

Market research officer

Chief HR officer

Promotion and advertising officer

R & D offficerChief Accounting officer

Figure: organizational chart for Distribution of products of M/s HAVELL’s Bangladesh.

Each division is leaded by partners as stated above and it should be noted that each division leader is from that respective divisions so, it would be helpful to operate that division because of the knowledge in that particular area.

This chart of dealers is for first year of operations. In the first year we will operate only in Dhaka. In the second year we would try to operate in other divisional areas. The number of dealers will be increased gradually with the increase of market share.

It is expected that from the second year of our product will starts is growth age. As this particular product are not new in Bangladesh market. We have good prospect in energy savings fan.Purchase plan:

Our firm will purchase the finished goods i.e. energy saving lights and fans from HAVELL’s India. In the contract there are some contractual terms and other conditions stated below:

Contractual terms: as the only one importer of HAVELL’s product in Bangladesh we have the privilege to purchase the products on credit at the terms of n/30. it means we can place a purchase order but the HAVELL’s should send the products within 30 days. There is also purchase credit limitations which will be determined based on negotiations.

Purchase price: the purchase price of lights and fans that will be directly purchased from Havell India—

Items Purchase PriceIn taka

Sparkle-light 150Liliput-light 156Super-strip-light 156Rayzor-light 162EL bar-light 180E lite-light 168thesis-light 168Es -50 (Fan) 1200Velocity- (fan) 1500ss-dr (fan) 1320

Import duty: as we are importing from India we have to pay import duty to the Bangladeshi Government. The percentage of import duty is 7.5% ad volrem payable which should be paid on the total import volume.

Warehouse: the goods imported will be transported by trucks through the borders to our firm’s warehouse which is located in Dhaka office to keep the goods in tact. Two security men will be kept to look after the warehouse.

Payment process: we have a bank account in Pubali Bank at Motihjeel. But an L/C account is to be also opened in Pubali bank to pay HAVELL’s India for the purchase credit. We will pay the amount through this banking channel. As in the contract our purchase credit will be for two months. So after two months of each purchase we would the money to HAVELL’s India.

Existing market study:

“You only see what your eyes want to see, how can life be what

you wanna it to be……” Frozen by Madonna” A human nature and our products:

People believe their eyes so much that they don’t pay heed to abstract things which can also agitate their lives. They are concerned with those things that they can get in cash. But we have found that as they are not so much

concerned with Energy Saving Lights (ESL), they don’t even know about tk. 1000 can be saved a year using a ESL! As the price of these lights is a little bit higher than the regular lights, they neglect this illumination system quite often. This is also a predominating problem in case of our another product Energy Saving Fans (ESF). But we have good prospect in the field of ESF and the reasons of this prospect is presented in the market study part of ESFs. So, we have a challenge to let the people know that they can save more than before and obviously it is inherently!

Market of Energy Saving Lights (ESL):

The total market share of ESL is tk 3, 00,00,000 approximately (monthly). ESLs are consumed mostly by middle class people. But the lower class is

not aware of energy saving and higher class doesn’t give heed in savings. Lots of brands in the market but most of them are not recognized. Chinese brands are quite large but quality of product is no reliable. Chinese brands got wide spread because of low price. Some existing brands are: Tanstic, Superstar, Philips, Taj, Transcom,

Energy Pac, Hanku & others. We have got so many types of ESL on the basis of watt. The product line of ESL begins from 15 watts and ranges up to 200 watts. But for the usage of home, it ranges from 15 watts to 120 watts maximum. Price level changes with the change in watts. The higher the level of watts

the higher the price. 23 watts ESLs have a great demand in the market. Lowest price of ELS is found to be tk 40 and highest price is found to be 325

in the class of 23 watts of course for home usages. Consumes in the market have some confusion regarding ESLs. Most of them

don’t even believe that about tk 1000 can be saved by using a 23 watt ESL in a year.

Philips, Transcom and Energy Pac can be our most prominent competitors. But Energy Pac concentrate mostly for industrial illumination. Philips is the most well known brand in the market, but facing the threat from remaining Chinese brands. The price level of Philips is high too that seems to us that their target market may be higher middle class. Transcom has a recognized brand name but not so reputed in this field of business. Their price is quite higher too.

So in a nutshell, our ESLs will face the strong threat from the existing Chinese brands and the treat will come from the sector of pricing.

Market of Energy Saving Fans (ESF): Almost 85% people of our country don’t know that there can be energy

saving fans too! We have a ample size market in case of general fans. Most of the market is captured by the local brands. Some Indian and Chinese brands have good market shares. Comparatively Indian brands are ahead of Chinese brands. There are a few Chinese brands which are marketing ESFs.

But they don’t have any advertisement campaign. Price of these ESFs ranges from tk.1200 to tk.1500. Quality is too low infect. They don’t provide after sales services. People can save up to the amount of tk.1500 approximately by using

energy saving fans in a year. We do have a good prospect in this market as our target customers are the

middle class people. We have a strong brand name and the quality of products requires no description!

So, we can penetrate this market through a strong campaign. Market segmentation, targeting and positioning:Market segmentation:

As we like to move in a much planned way, we have decided to segment our market in 4 parts corresponding to the 4 major divisions of our country.

In the 1st year we will operate our business only within the region of Dhaka city. Every year we will try to expand our business in a new divisional city. As our target consumers are the middle class people and most of them have

residence in cities, we should concentrate on these cities. The overall scenario of this segmentation, targeting and positioning can be

viewed by some figures:Segmenting the market:

Figure: market segmentationTargeting the market:

Our target market has some attributes. Based on these attributes our total sales would be affected. These are shown below:

Mkt. Segmentation

Divisional Segmentation per year

1st year operation

2nd year operation

3rd year operation

4th year operation

6th year operation

Dhaka

Chittogong

Rajshahi

Khulana

Barisal

Geographic segmentation

Climate Class size income level

Family size user status attitude

Life style

Middle class

Middle Class: M/s HAVELL’s Bangladesh targets the customer of middle class whose earning within the tk10 thousand to tk 15 thousand in a month. This company targets the middle class because of some reason. These are: Class size and income level, family size and life style, user status and attitude.

Upper Middle Class: M/s HAVELL’s Bangladesh targets the Upper middle class people whose income between tk15 thousand to tk 35 thousand in a month.

Upper class: Upper class also targeted by M/s HAVELL’s Bangladesh. They are one of the main sources of big selling as well as big buyer.Positioning of the product:Product positioning is the way that is followed to occupy the mind of the consumers by using the image of the product. Our products have a good number of attributes that can create image in the mind of the targeted consumers:

Figure: positioning the product.The marketing plan:Distributors:

Attributes for market positioning

Product attributes

Product benefits

Usage occasion

Class of users

Competitive advantage

Combination

Excellent brand

Savings, life style

All year, Summer

Middle class

Low cost, Accruals

Feasible

Product positioning

Figure: distributor channelMarketing mix analysis:

Products (lights):

Sparkle

Decorative indoor use soft light luminaire creating mood and ambience at residence and work places.Applications

Bank counters Tellers Residences Study table Corridors / Toilets

ATM rooms

Liliput

Decorative indoor use high lumen packs luminaries for brighter ambience using FP-L

M/S HAVELL’s Bangladesh

Dhaka dealer

No of dealer-2

Chittagong dealer

No of dealer-1

Khulna dealerNo of dealer-1

Barisal dealerNo of dealer-1

Rajshahi dealerNo of dealer -1

Whole sale distributor 2

Whole sale distributor 1

36W.

Applications

Dispensaries Eye clinics Residences Study rooms

Halls & malls

Super-strip

Decorative purpose slim strip type fixture suitable for fluorescent tubular lamp 40/20W for indoor use.

Applications

Shops and establishments Houses Society parking areas Staircases Small offices

Computer labs

Rayzor

Decorative indoor use luminaries suitable for fluorescent tubular lamp 40/20W. The luminaries have colored plastic caps on the ends which are designed to match profile of a 38 mm diameter lamp. Luminaries are not recommended with a 26mm diameter lamp.

Applications Shops and establishments Houses Society parking areas Small offices Computer labs

El bar

General purpose ultra slim strip light fixture suitable for fluorescent tube of 36W (T8) with high frequency electronic ballast for low voltage areas.Applications

Rural residences Cove lighting Emergency lighting Offices Schools

Libraries

E lite

Decorative indoor use luminaire with high frequency electronic ballast suitable for T5 fluorescent energy saving tube 14/21/28W.The Luminarie is fitted with a prismatic diffuser for glare free light.

Applications

Residential premises Hospital areas

Clean rooms

Cove lighting

Conference rooms

Colleges & class rooms

Thesis

Decorative indoor use luminaire with high frequency electronic ballast suitable for T8 fluorescent lamp 18W. The luminarie is fittedwith a prismatic diffuser for glare free light.

Applications

Dressing room Study rooms Balconies

Residential premises

Products (fans):

ES-50

Applications:

Residences Schools, colleges Big shops

Velocity

Applications: Whole sale shops Big retail shops Residences Educational institutions

SSDX-390

Applications:

Medium halls Residences Educational institutions Big shops etc.

Pricing of products:

In market study report I mentioned detail about the existing situation of market. Its target customers are the middle class, upper middle class as well as upper class people and that’s why I have tried to keep the pricing list within their reach and I am confident that I have done a good job regarding that so far!

Quality image: Havells is a multinational company operating its business more than 50 countries all over the world. It has an immense reputation electrical sector. The one problem so far can be known is that most of the people think that it’s an Indian company. But that’s not true. It’s is originated in Germany. In the subcontinent, operation is conducted from India.

Lights:

1. Sparkle tk.2502. Liliput tk.2603. Super strip tk.2604. Rayzor tk.2705. Elbar tk.3006. E light tk.2807. Thesis tk.280

Fans:

Figure: price chart. Discounts: There will be discounts for distributors in huge purchase. No quick payment credit. 1 year warranty will be provided. Sales back is allowed in terms of some conditions.

Channels of distributors: It will be a whole selling business. Initially 5 whole sellers in Dhaka. Every year business is expected to expand. Each divisional distributor would have 4 whole sellers.

Promotion: Market study shows that most of the people don’t know that

inherently they can save much more money than what they currently save. It does indicate that a consumer cans a huge amount of surplus if he knows the fact. So advertisement should focus on this matter.

As one of our products having a market although not so strong of course, we should focus on marketing.

An ample size advertisement amount is required. More emphasize on TV advertisement. A web site is to be developed. Other way of campaign can be: e mail marketing, prospectus and

advertisement in news papers.

Financial Plan

The financial plan of a venture shows whether its origination and future steps are possible

with the continuous change in the business environment. In fact it is a forecasting of the

entrepreneur to the current future and long run future to show the feasibility of the

venture in the real sense.

For my onward project as a contingent with HAVELL’S India Limited, I have done the

financial plan of our partnership business. The financial plan contains the followings

Sales forecasted

List of fixed costs

List of variable costs

Pro forma income statement

Retain earning statement

Pro forma cash flow statement

Pro forma balance sheet

Breakeven point analysis

Financial analysis

To make the financial analysis I have considered some real world data which was brought

forward by in depth investigation with the industry executives of the electronic sector . But in

some cases those investigation was little appropriate. Hence I have added some

hypothetical assumption with little deviation from the reality.

Sales, Selling Price and Sales Revenue Forecasting

From the market survey it has found that-

Total sales (Light-industry) = 36, 00, 00,000tk.

Average price = 100tk.

So, total unit sold (Light- industry) = 36, 00,000units

Our target market share = 10%

So, Our Total target sales (Light- industry) = 3, 60,000units

So, our per category average sales = 50,000units

Principle for forecasting sales of per category of light: The demand or price curve is the

principle to settle the forecasted sales. That is the higher the price the lower the sales and

vice versa, with a deviation from the 50,000 units.

On the other hand, the selling price is somewhat reveals the true picture of the industry as

found from the market investigation.

So finally we have the following projected sales and sales revenue figures_

Sales Revenue Calculation:Unit Name Unit Code Unit Price(tk.) Unit sold Revenue(TK.)Lights: Sparkle L1 250 70000 17500000Liliput L2 260 60000 15600000Super strip L3 260 60000 15600000Rayzor L4 270 65000 17550000EL Bar L5 300 25000 7500000E lite L6 280 35000 9800000Thesis L7 280 35000 9800000Fans: Es-50 F1 2,000 60000 120000000Velociy F2 2500 40000 100000000

SS-Dr 390 F3 2200 50000 110000000Total 5,00,000 42,33,50,000

Growth rate of sales:

The growth rate of the industry is 22% which was found by market survey. But 80%

is with the industrial sector. That means that household sector growth is lower. For that it is

assumed 10% growth in our sales as its main focus is in the house hold sector more

specifically upon the middle class people.

So the sales figures for the consecutive 3 year are as follows_

2007(1st year) 2008(2nd year) 2009(3rd year)Sales(tk.) 42,33,50,000 46,56,85,000 51,22,53,500

List of Variable cost:

The followings are the variable costs that would be incurred in its onward project. For the

preparation of the pro forma income statement of the venture it has taken variable cost as

60% of the sales of the given year. As sales increases, variable cost also increases in a total

basis rather than in a unit basis which reveals that variable cost is fixed in unit term. The

costs are_

1. Electricity and Water,

2. Insurance,

3. Depreciation,

4. After sales services,

5. Tele and communication,

6. Postage,

7. Import duty,

8. Transport,

9. Miscellaneous expenses.

List of the fixed costs:

Among the following list of the fixed costs, office equipment and license is of importance. The license given by the HAVELL’s India Limited under the signed contract with them contains all of the incremental cost to have the right to sell the companies product in our country. So the cost figure for the purpose is huge.

The Fixed costs of the projects are as follows_1. Advertisement2. Furniture and Office equipment

3. Salary(operating cost in a financial sense)4. Decoration 5. License6. Warehouse

For the license, we would charge amortization after the first 3 years.

Policy StatementBefore going forward we can summarize the policy of the venture that will help us

for an in depth knowledge and understanding of the pro forma statements. The policies are-

1. Bank loan =30, 00,000Tk. ; Equity= 20, 00,000Tk.2. Bank loan interest rate =10%3. Contribution margin=40%4. Sales growth rate = 10%5. Industry use=80%6. variable cost=60%7. No withdrawal by the partner for the 3 years; so Retain earning = net income8. a/c receivable 8% of sales9. a/c payable 9% of Purchase,10. Purchase= 20, 00, 00,000; 25, 00, 00,000; 25, 00, 00,000 Tk.11.Sector growth is 22% but mostly in the industrial sector12. Inventory policy: constant inventory to maintain,13. No amortization charged for the license for the first 3 years14. Equipment is somewhat constant as the company focuses more on the marketing strategy15. Insurance is sum up of local area and l/c insurance16. Prepaid insurance increased as the expansion of business is guided by more security.17. Advertisement policy is also constant in the regard of deferred advertisement,18. Lc security is maintain with the LC issuing bank to back LC credit; increased with the expansion of the business20. Prepaid security receipt from the dealer will increase with the expansion of business21. Bills payable varies with the variation of the cash position of the firm

Pro forma statementsPro forma income statement:

Under the above policy statement we have figured the following income statement in a variable cost method.

M/s HAVELL's BangladeshPro forma Income statementFor the year ended 31st December… yearParticulars 2007 2008 2009

Sales Revenue 42,33,50,000 46,56,85,000 51,22,53,500Less: Variable Cost(@60%)

(25,40,10,000) (27,94,11,000) (30,73,52,100)

Contribution Margin(@40%)

16,93,40,000 18,62,74,000 20,49,01,400

Fixed costs (10,50,75,000) (10,50,75,000) (10,50,75,000)

EBIT(Operating Income) 6,42,65,000 08,11,99,000 9,98,26,400Less: Interest (3,00,000) (3,00,000) (3,00,000)

Net income 6,39,65,000 08,08,99,000 9,95,26,400

Signature(partners):

Comment: From the above pro forma income statement is can be easily shown that the project is viable as the net income is positive and increase in each year of its operation. Retained earnings statementM/s HAVELL's BangladeshRetained earnings statement

Particulars 2007 2008 2009

Net income 6,39,65,000 08,08,99,000 9,97,00,000R/e (beginning) 0 6,39,65,000 14,48,64,000

R/E (Ending) 6,39,65,000 14,48,64,000 24,45,64,000Signature of the partners:

Pro forma Cash flow statement:In order to calculate the cash flow statement, it has followed the indirect

method. The cash flow statements for the next 3 years along with the first year are as follows-

M/s HAVELL's BangladeshPro forma Cash Flow Statement (Indirect Method)For the year ended 31st December, … year

Particulars 2007 2008 2009

Net Income 6,39,65,000 8,08,99,000 9,95,26,400Reconcilement Items:

A/c receivables (3,38,68,000) (33,86,800) (37,25,480)A/c payables 1,80,00,000 45,00,000 0Deferred Advertisement 4,00,000 4,00,000 4,00,000Net cash provided by operating activities-

4,84,97,000 8,24,12,200 9,62,00,920

Cash flow from investing activitiesPurchase of equipment (15,00,000) 0 0Net cash provided by investing activities

(15,00,000) 0 0

Cash flow from financing activitiesInitial capital 20,00,000 0 0Bank loan 30,00,000 0 0Interest expense (3,00,000) (3,00,000) (3,00,000)Net cash provided by financing activities

47,00,000 (3,00,000) (3,00,000)

Net increase/(decrease) in cash 5,16,97,000 8,21,10,200 9,59,00,920Cash at the beginning of the period

0 5,16,97,000 13,38,09,200

Cash at the end of the period 5,16,97,000 13,38,09,200 22,97,10,120

Signature(partners)

Notes:

1. The pro forma cash flow statement is prepared in the Indirect method,

2. Adjustments for the a/c receivables are made in the following ways_

Increase in a/c receivable(2008) 37254000-33868000 = 3386800

Increase in a/c receivable (2009) 40980280-37254800 = 3725480

3. The cash flow at the year 1 (2007) is 0.

4. The cash balance is transferred to the balance sheet at the end of the period,

5. For simplicity and according to the policy we have said that there would be no

change in a/c payable.

6. Deferred advertisement policy is fixed.

Comment: From the above pro forma cash flow statement is can be easily shown

that the project is viable as the cash flow on each year is positive and increases in

each year of its operation.

Capital Structure: The capital structure of the company has the equity of tk.20, 00,000 and

Bank loan of tk. 30,00,000 at an interest rate of 10% per year.

Pro forma Balance Sheet:The projected Balance Sheet for the first 3 years’ of operation is presented in the following places_

Pro Forma Balance SheetAs on 31st December …

Items 2007 2008 2009Property and AssetsCashA/c receivablesInventoryLicenseOffice equipment and furniturePrepaid security reservePrepaid insuranceDeferred AdvertisementLC security

5,16,97,000 13,38,09,200 22,97,10,1203,38,68,000 3,72,54,800 4,09,80,2802,00,000 2,00,000 2,00,00010,35,75,000 10,35,75,000 10,35,75,00015,00,000 15,00,000 15,00,0002,00,000 2,00,000 2,00,0002,00,000 2,50,000 3,00,0004,00,000 4,00,000 4,00,0003,00,000 5,00,000 7,00,000

Total Property and Assets 19,19,40,000 27,76,89,000 37,75,65,400Liabilities and Capital

Liabilities:A/c PayableNotes payableBills payablePrepaid security receiptAccumulated DepreciationBank loan

1,80,00,000 2,25,00,000 2,25,00,00020,00,000 20,00,000 20,00,0009,41,79,350 9,26,95,300 8,26,57,35050,00,000 1,00,00,000 2,00,00,0002,14,350 6,29,700 8,44,05030,00,000 30,00,000 30,00,000

Owner's Equity:CapitalRetained earnings

20,00,000 20,00,000 20,00,0006,39,65,000 14,48,64,000 24,45,64,000

Total Liabilities and Capital 19,19,40,000 27,76,89,000 37,75,65,400

Signature of the partners:

Note: calculations of depreciation & unit price setting shown in Appendix.Comment: From the above pro forma balance sheet is can be easily shown that the

project is viable as the financial position of the venture becomes strong with the progress of the company in the future companies.

Break even point analysis:

The calculation procedure of the break even point is as follows-

2007 2008 2009

Fixed cost/cm 10,50,75,000/0.40 10,50,75,000/0.40 10,50,75,000/0.40

BEP(Amount) 26,26,87,500 26,26,87,500 26,26,87,500

Table: BEP calculation.

Breakeven point (In graph)

TC

TR

FC

Sales revenue/Cost

BEP(amount)

Tk.10,50,75,000

Tk.26, 26, 87,500

Comment:

As we have already shown that sales of the venture in the first year of operation is

42,33,50,000 which is well above the BEP of 26,26,97,500 tk.. So the project is good

enough to reach to the BEP and smart enough to capture profit at the very beginning.

Financial Analysis:

Upon the assumption that

1. Project’s life time is infinitive and

2. WACC = (0.60 * 0.10) + (.40*.20) = 14%,

3. Growth rate of the project’s cash flow through the life time is 10%,

NPV calculation:

PVCI =5, 16, 97,000(1.04) / 0.14 - 0.04}/ 1.14 tk.

= 47, 16, 21,754 tk.

NPV = PCI –PVCO

=47, 6, 21,754 tk - 10, 50, 75,000 tk.

= 36, 65, 46,754

So from the NPV calculation, it can be also shown that the project is economically viable as

our calculated NPV at 14% discount rate is positive. So project will add value to the

stakeholder of the venture.

Ratio Analysis:Name of the Ratio

Formula Calculation Result Comment

Profit Margin

Net income / Net sales

6,39,65,000/42,33,50,000 15.11% The benchmark is 12% - 17%. So our profit margin is satisfactory

Cash return on sales

Net cash provided by op. activities / Net sales

4,84,97,000 /42,33,50,000 0.12% Cash generation on sales is satisfactory. Though a/ receivable is increasing, the growth rate is declining.

Return on Assets

Net income/ Avg. assets

6,39,65,000/19,19,40,000 33% Return on asset is good.

Assets turnover

Net sales/ Avg. assets

42,33,50,000/19,19,40,000 2.21 times

Net sales are 2.21 times of the avg. sales.

Debt to total asset ration

Total debt/ Total assets

30,00,000 / 19,19,40,000 1.6% So the bank that provided the loan is safe enough against asset of the firm

Note:1. The beginning assets are 0. So the average asset is 19, 19, 40,000 tk.

SWOT analysis Strengths and weakness exist within the organization; opportunities and threats

normally originate outside are shown below:--Strengths:

Production efficiency: the production of energy saving fans and lights are manufactured in India under direct supervision of Switzerland technical team. In Havells—

“Good product comes from a good plant” –this is the fundamental belief propelled to set up of the state-of-art manufacturing plant in India. So, the quality of the product is continuously improving.

ISO 9001:2000: as the production capacity is one of largest companies in India, Havells received ISO 9001: 2000 certificate amongst the few lighting companies in India. So, the quality is ensured.

Ability to introduce new products and new working methods: Havells has two types of product one is for home consumers and other is for industrial consumers. They have variety of differentiated products and new products are continuously introduced catered to the demand of consumers.

Strong R&D team and technology: the plant uses the largest technology with microprocessor controlled with semi/fully automatic facility, including a sophisticated tool-room that enables Havells to pioneer breakthrough designs.

Product attractiveness: HAVELL’s energy saving fan and lights are very attractive for interior designs. So fashionable consumers inclined to purchase HAVELL’s fans and products.

Quality control: our firm directly imports the products from HAVELL’s India so quality is maintained. In HAVELL’s-

“YOUR SAFETY IS OUR CONCERN” Ability to raise funds: we have a facility to purchase goods from HAVELL’s India

which enables us to raise funds in short-term. And we can import goods from India within 2 month which is very strongly supply-chain management.

Huge Demand of energy-saving appliances: the lights and fans can save 20% electric bills each month and its longevity is higher than any other electrical products in Bangladesh. We will provide the products in a reasonable price. As

the load-shedding is huge our energy saving products will save quite a large amount of electricity. Last year the lack of producing electricity was 700 Mega Watts. This year the shortage of supply doubles to 1400 megawatts. So there is potential demand of our products.

Dealership incentives: we will provide incentives like- providing discount to the dealers which will encourage purchasing HAVELL’s products from us.

Customer care: we will provide 12 months guarantee to the customers. If any defective products are identified in 12 months then those products are refundable from any dealers of any divisions.

Weakness: Distribution arrangements: we would receive the products in a decent way but

problem may arise when we try distribute products to dealers they may not agree to purchase the goods initially.

Age structure of senior management: Though seven of the partners are very much young and they haven’t the experience of running a business that may be potential weakness. But on of our partner (Asif Ahmed) has sufficient technical knowledge in these type of electrical products.

Transportation: we will purchase a truck to import goods from HAVELL’s but when it would try to distribute the product to different areas in the country the fare cost would be very much substantial.

Warehousing: Though it has a warehouse in head office but the maintenance cost would be huge.

Knowledge of customers: in Bangladesh customer’s psychology is – what is cheap in hand we would buy it. So they purchase cheap products but suffers when these products becomes wastage in a short period. We will need a huge marketing effort to bridge the gap of knowledge of our product and long-term benefit to customers.

Opportunity:

Developing fresh markets: Though there are some energy saving products in Bangladesh but a huge market share is untouched. We have an opportunity to create a market for energy saving appliances.

Cutting cost: As I receive a distributorship with occurring negligible fees this has a benefit of cutting cost.

Introducing a totally new product: the energy saving fan is a totally new product to the country.

Brand name of HAVELL’s: All over the world the HAVELL’s is a well-known brand name. It can be used the brand name in the Bangladesh as we are the first enterprise to introduce HAVELL’s in Bangladesh.

Threats: Overdependence on HAVELL's India: as HAVELL’s India is the only supplier of

the products to our firm. We are over dependent to them and if HAVELL's for any reason suffers worse situations that impact will be also on us.

Risks in foreign trade between India and Bangladesh: If import duty is increased by Bangladeshi government then the cost of doing our business will be increased substantially. The rules and regulation of foreign trade between two countries has an adverse effect on our firm.

Penetration of China Cheap Product: Competitors from china is a potential threat to our firm. As some of the china’s electrical products already exist in our market. Those products price is cheaper compared to our products but their longevity is poorer than our products. This is why we will be on edge but competitors may worse our position in long-term.

Problem Analysis:1. Time consuming: As HAVELL’s is a International company and production is in

abroad keeping pace with the demand, its tough to generate fulfilling their demand is time-consuming due to transport from India.

2. Slow growth rate of Power sector: In Bangladesh, there a less growth of power sector impacts on the operations of the firm.

3. Increasing amount of Fright cost: No domestic production of products in our firm. So normally price will increase for freight cost.

4. Brand name confusion: Rather than Indian product, it’s a ready-made product of Switzerland. “HAVELL’s India” is the brand name where products indicate from Switzerland “HAVELL’s”. So, brand-name is confusing.

5. Slightly higher price: Consumer’s confusion regarding price, utility due to products quality based on life-time. So huge marketing effort is need to increase the knowledge of our products utility and higher price.

6. Consumer’s lack of knowledge: Less idea about electronic product as most the characteristics is highly technical.

7. Our less idea about this industry: As we are new in the industry and there is no role model so it is a problem for us. There is also no significant data of marketing.

Alternative Strategies: Our products may have some deficiencies. There research and development unit of

HAVELL’s will face the problem with profitable outcome.Research & Development at India:

Innovation is the hallmark of every vital development at QRG. New ideas, inventions deeper scientific knowledge and give its work force a new impetus towards technical progress.

QRG technological strengths and its endeavor towards continuous research & development have allowed it to fulfill its responsibilities towards its customers. The responsibility of providing its customers the best products and zero defect services to enable them to be comfortable and secure in usage of electricity. Centre for Research and Innovation (CRI):

HAVELL’s India has recently invested 20 million dollars in a new centre for research and innovation. This centre has been set-up at the company’s H.O. premises in India.

The task of this centre is to provide the theoretical & experimental foundations for all segments of electrical engineering. The centre closely cooperates with the various departments so as to provide the best and the latest in terms of technology and design. The group has also decided to dedicate 2% of its turnover towards R&D. Contingency Plan:

Regarding our desired goal it’s quite possible to have an unexpected incident as follows:

High prices may commit a negative reaction of consumers: We in future we might convince HAVELL’s to produce in Bangladesh so freight cost will be reduced o we may pursue HAVELL’s to produce a different brand of product at a lower price.

Inflation rate may changes demand of products: In case of unexpected higher inflation we will increase various kinds of sales promotional activities like- providing discount to consumers. This strategy may stable the sales.

Sudden increase of Government tariffs and duty: In case of sudden increase of government tariffs and import duty we will commence the production of products as a subsidiary to HAVELL’s India.

Warehouse risk: As the lights are fragile, so there is a possibility of potential loss from inventory damage. For this reason, we will hire technicians who will look after the inventories from damage or appoint technical advisors.

Major Findings of the report: GDP growth (6.5% in the year 2005) supports that the demand of consumption of

people is increasing. So we have an opportunity to sell. Higher inflation (8.5% in the year 2005) suggests that people may need products that

can reduce their cost i.e. electricity bills. Our firm has a lower degree of operating leverage; it can reduce cost in time of

recession. The electronics industry is at stable growth in terms of sales i.e. 10% growth rate. There is stiff competition and pressure of substitute products. Under both micro and macro screening it was found that home appliance and

electronic project is best among the three projects. So, electronic and electrical project was selected.

We will operate in Dhaka in the first year then gradually in the divisional areas. Our total numbers of staffs are 30-35. All of the partners are active partners and they are working partners also.

The operations of the firm will be conducted as per partnership contract.

We will purchase finished good from HAVELL’s India directly.

The volume of purchase is negotiated each time of order.

The bulk of the purchase is on credit which to be paid in two months

L/C account is opened to pay in Pubali Bank of Bangladesh.

Our target customers are the middle class people.

The most important thing regarding our business is that we are not producing anything and we have a moderate existing market of Eels. For this reason we should concentrate mostly on marketing plan: an outstanding advertisement campaign is required.

Our project is financial feasible as our some of the following key terms are indicating positive about our company in real term-

NPV =36, 65, 46,754 tkBEP (Amount) = 26, 26, 87,500Net income has an increasing trendNet Cash flow has an increasing trend

Projects financial position is increasing as the time progress that is also found in the ratio analysis.

Our main strength are –we have strong demand from customers for cost saving and our ability to purchase goods in credit.

Our main weakness are- Distribution arrangement, consumer’s lack of knowledge. Our main opportunity is- Using of brand name of HAVELL’s. Our main threat is from China’s competitors. The venture adds 22, 23, 75,000 tk. net social benefit and hence the venture is also

socially viable. We have no significant research data about marketing. We forecast that contingent problem after implementing the Business plan may be-

unexpected inflation, sudden increase of import duty and a competitors appearance of very much low priced product.

One of the best solutions is the above contingent problems is– to commence production as a subsidiary of HAVELL’s India.

Conclusion:

In the summery, I conclude that this business has strong positions in contrast of the unfavorable characteristics. There may be some phenomenon’s which may hamper our future prospect. If we manage the firm properly and plan ahead of unforeseeable situations then we may have a chance to prosper electronic and electrical sector and thus we can substantially add value to the firm and also to the country. I again thank cordially our course teacher to provide such a practical report.The project shows a very strong and sound technical, financial segment. Moreover the SWOT analysis gives a clear positive picture.

The points that make the idea more strong are as follows: The owner are very much confident and professionals in their respective field. The business has got some pre-setup channels like distribution channel, production

and sources of raw materials and It has also a ready and rapid market demand.

So, the business plan is very much feasible and profitable. There will be no problem in setting up the business.Reference

1. ENTREPRENUERSHIP:Fifth editionRobert D. Hisrich, Phd.Michael P. Peters, Phd.

2. INVESTMENTS Zvi BodieAlex KaneAlan J. Marcus.

3. Lighting solutions: printed by HAVELL's India limited.4. Explore the worlds of HAVELL's.

Sources of data: 1. www.bbs.com 2. www.bangladeshbank.bd.com 3. www.havells India.com