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    FLOWSERVE MICROFINISH VALVES PVT LTD

    ACKNOWLEDGEMENT

    The satisfaction of the successful completion of any task would be incomplete,without expression of gratitude, to the people who made it possible. Thus taking

    this opportunity I would acknowledge all these who have guided andstrengthened me in pursuing my training.

    I would like to express a heart felt gratitude to Mr. Rajeev Vikamshi of FlowserveMicro finish valves PVT Ltd for permitting me to do my training in their esteemedorganization.

    I also thank Mr.Mayur Lodaya, Miss Sushma J, Mr. PM Vernekar, Mr. DanielEkbote and Mr. VM Nayak the external guide Mr. Nishant Lalka and the entirestaff training me at Flow serve Micro finishes Valves PVT Ltd with their kind cooperation during the training.

    I take the honored privilege of expressing my sincere thanks to our esteemedDean Mr. P.N Khatawkar and internal guide Miss Rubina F. for giving thisopportunity to undergo the practical training to equip yourself with the knowledgeof organizational study.

    Swapna Priya

    IBMR COLLEGE, HUBLI

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    FLOWSERVE MICROFINISH VALVES PVT LTD

    INDEX

    Section-11. Preface 2

    2. Introduction of the Company 3

    3. Company Profile 6

    Section- II1. Different departments and their working 9

    Section-III1. Objective of the study 53

    2. Data collection 53

    Section- IV1. SWOT Analysis 54

    2. Conclusion 56

    3. Bibliography 57

    IBMR COLLEGE, HUBLI

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    FLOWSERVE MICROFINISH VALVES PVT LTD

    PREFACE

    The dynamics of constant change in the present business environment bringsforth to us there challenges f well equipping our selves with profound theoreticalknowledge and the skill of applying the same. With this view point: In-planttraining wows thus designed to be a part of the curriculum.

    In-plant training is that activity which helps us in gaining practical knowledge andcorrelates it to our theoretical study.The option of studying more about working capital was indeed an experienceworth wile for our carrier since working capital is an important part of everyorganization which determines the organizations liquidity position and its currentposition in meeting its current obligations.

    Flow-Serve Micro finish valves PVT LTD, A 100% Export Oriented Unit is one ofthe renounced and successful organization. Thus, this being an esteemedorganization- I had a great opportunity for completing my training successfully.

    IBMR COLLEGE, HUBLI

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    FLOWSERVE MICROFINISH VALVES PVT LTD

    INTRODUCTION TO INDUSTRY

    Flowserve Micro Finish is one of the 100% EOU. On the city of Hubli. The FlowServe Micro finish Group of companies consist of two units namely FlowserveMicro Finish Valves PVT LTD, and Flowserve Micro Finish Pumps PVT LTD.

    Flowserve Micro finish Valves PVT LTD. Was ESTB: in 1997 to manufactureindustrial valves plug valves and valve components. The company is located in

    industrial area, HUBLI which is one of the biggest industrial centers in the state ofKarnataka, INDIA.The company manufacturing unit has a 15,000sqft of built up area to house thefacility.

    The companies catering the major needs of industries in the field ofpetrochemicals , refineries, fertilizers, fine chemicals, pharmaceuticals, food andbeverages and other general chemical industries.

    Before knowing more about the companys success and functioning, let us knowwhat valves are.

    IBMR COLLEGE, HUBLI

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    FLOWSERVE MICROFINISH VALVES PVT LTD

    Valves

    By definition valves are mechanical devices spherically designed to direct, stop,mix or regulate the flow, pressure or temperature of a process fluid. Valves canbe designed to handle either liquid or gas application.By nature of their design, functions and applications, valves come in a wide

    variety of styles, sizes and pressure classes.

    BASIC FUNCTION OF VALVES

    Starting and stopping flow

    Regulating flow volume(frequently called throttling) Preventing reserve flow(called anti back down)

    Changing flow direction

    Limiting fluid pressure

    The application of valves is done in every imaginable field. There areranges of valves we encounter in our every day life; from the valves inside ourbody such as the heart valve to the valves inside the automobiles we drive, tothe water faucet we turn on /off. It is hard to realize how many there are and howwe come to depend on them.

    IBMR COLLEGE, HUBLI

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    FLOWSERVE MICROFINISH VALVES PVT LTD

    Brief history and background:

    As mentioned earlier, Flowserve Micro finish Valves and Pumps PVT LTD wasestablished in the year 1997 to manufacture valves i.e. Ball Valves and Plug

    Valves and industrial pumps i.e. ISO Pumps and ANSI Pumps. The companiesformed as a result of joint venture between Micro finish and FlowserveCorporation USA, with Flowserve as the major share holder.

    Valves and pumps manufacturing units have a 15,000 sq ft. & 10,000 of built uparea to houses the facilities respectively. Both the division s has an open spaceof 10,000 & 13,000 sq ft respectively for further expansion.

    In addition, the two units have excellent machining testing facilities consisting ofCNCs, Center lather, Milling, Drilling, and grinding machines SPMs etc.supported by adequate gauging measuring instruments.

    Dedicated staff and workers strive to ensure thatch the company s qualityobjectives are achieved.

    The company s having documented Quality system to meet the requirement ofISO 9001-2001 to ensure that its orders processed, products manufactured meetthe requirements of the customer. Father the companies also certified for CE-Marking.

    IBMR COLLEGE, HUBLI

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    FLOWSERVE MICROFINISH VALVES PVT LTD

    FLOWSERVE MICROFINISH VALVES PRIVATE LIMITEDORGANISATION PROFILE

    1. Name of the organization : Flowserve Micro finishes Valves

    Private Limited

    2. Type of Organization : Private Limited.

    3. Location of works andRegistered office : CTS No 568/1, Industrial Area

    Gokul Road Hubli- 580-029

    Phone: 0836-2333202Fax: 0836-2333205E-mail: durco@sancharnet.in

    4. Promoters : Flowserve Corporation, USA.Micro finish Valves Limited, Hubli

    5. Year of establishment : 1997

    6. Contact persons : Name:

    1. Tilak. K.VikamshiDesignation: MD2. Rajeev.T.Vikamshhi

    (Manuf.Manager)

    7. Product details : Manufacturing and export ofIndustrial valves viz.ball valvesPlug valves and valve components

    IBMR COLLEGE, HUBLI

    mailto:durco@sancharnet.inmailto:durco@sancharnet.in
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    FLOWSERVE MICROFINISH VALVES PVT LTD

    SHAREHOLDING PATTERN:

    Shareholders % of

    Holding

    Number of

    Equity share

    Equity

    Capital(Rs.)

    Flowserve(Mauritius)

    Corporation,USA

    76% 265200 26524000.00

    Micro finishValves Ltd,

    Hubli, INDIA

    Total

    24%

    100%

    837600

    3490000

    8376000.00

    34900000.00

    IBMR COLLEGE, HUBLI

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    FLOWSERVE MICROFINISH VALVES PVT LTD

    8. Product Marketing : Flowserve Corporation USA,

    Through its global subsidiaries

    9. Production : Year Valves ValveGroup

    2003-04 5562 125564

    2004-05 13723 156215

    10. Directors : Mr. Tilak . K. Vikmshi

    Mr. Deepak. K VikamshiMr. S. Gopinath

    Mr. Michael. DOlsen

    Mr. John. M Nanos

    11. Name of the Banker : Canara BankAnkush Arcade

    Station Road

    Hubli- 580 020

    ICICI Bank Ltd

    TB Road, Deshpande NagarHubli-580-0289

    IBMR COLLEGE, HUBLI

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    FLOWSERVE MICROFINISH VALVES PVT LTD

    Section II

    PLANNING AND PURCHASE

    Hierarchy of Management

    Planning & Purchase

    In charge

    Sales & Shipping Planning Store Local

    Officer I Alloy II Purchase

    PLANNING:

    Planning is the activity which acts as a backbone of every organization and leads them

    one step further t their success. Every organization chalks out best plan which is in tunewith its resources and application of the same in order to meet their commitments.

    ObjectiveFor usage of resources to meet the delivery commitments.

    Responsibility

    Planning and purchase in charge is responsible for drawing tentative and monthly

    manufacturing plan through assistant.

    Production and assembly in charge is responsible for modifying the plan to meeturgent customer requirements.

    Procedure1. Plan is drawn to approximate 90% of capacity is researved to meet the urgent

    amendments.

    2. 2. Tentative monthly manufacturing plan for a particular month is drawn 5 weeks

    earlier considering the following elements but is not limited to delivery date ofwork orders & pending orders availability of materials, feedback from P & a

    Dept.

    3. Tentative plan is modified / amended of required on the basis of feedbackinformation from other departments.

    4. Final plan is issued 1wk earlier to the particular month.

    5. Final plan is amended if required on the basis of feed back from P & A Dept6. Causes of not metering the plan are discussed with P & a Dept.

    IBMR COLLEGE, HUBLI

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    FLOWSERVE MICROFINISH VALVES PVT LTD

    PURCHASING

    Objective:

    To ensure that all purchased items and services meet the specified requirement.

    Responsibility:

    Plannin