introduction to ranbaxy

7/27/2019 Introduction to Ranbaxy

1/25

1

INTRODUCTION TO RANBAXY

RANBAXY LABORATORY LIMITED was founded in Amritsar in 1937 when Ranjit

Singh and Gurubux Singh fused their names together to form Ranbaxy, a company

formed to distribute medicine supplies by the foreign companies. It started as

distributer of vitamins and anti-tuberculosis drugs. Bhai Mohan Singh joined the

company as a partner in 1952. DIAZEPAM was the first product manufactured by

Ranbaxy and was most effective at that time to hit market and vastly accepted. In

June 1961, Ranbaxy entered into collaboration with LEPETITSPA (MILAN) an Italian

pharmaceutical company. It commenced in March 1962 with a modern plant at

Okhala, New Delhi to make chloramphenicol capsules. In 1966, began the saga of

an Indian pharmacy major with Bhai Mohan Singh the promoter of the company

buying the business from the Italian company. The company Ranbaxy laboratory

ltd. was formed. Ranbaxy went public in 1973. Over the years Ranbaxy has

invested heavily and built up considerably strengths in manufacturing and marketing.Ranbaxy laboratories ltd India largest pharmaceutical company sells its product in

over 100 countries. It has a ground presence in 34 countries and manufacturing

facilities in 7 countries. Ranbaxy today is amongst the top 100 pharmaceutical

companies in the world. It has been rated as the 11th largest company in the

international generic space for the year1999. The company attributes its phenomenal

growth to the vitality innovation and commitment if its over 8000-strong multi culture

workforce.

The coming together of Ranbaxy and Deiichi Sankyo is a path breaking confluence.

That, in one sweep. Catapults the new empowered entity to the status of the world15th largest pharmaceutical company. Individually, the two pharmaceutical giants are

formidable- one, Indias largest generics company and the other, among the largest

innovator companies in Japan.

And now the synchronization of proven, individual competencies in a unified,

complementary platform has catalyzed a high octane thrust into a far reaching

transformational trajectory.

This synergy of tested success mantras energies the combined business model

manifold. It usher in an expanded global foot print, a wider product portfolio, added

revenue streams and better cost-competitiveness, while allowing, both companies to

optimize research &manufacturing, capabilities and much more.

Presently, the range of activity going on in Ranbaxy cover dosage forms, active

pharmaceutical ingredient, diagnostics and the fine chemicals.

Ranbaxy established their plant in India at the following locations:

Paonta Sahib (H.P)

Gurgaon (Haryana)

Devas (M.P)

Tosana (Pb)

Mohali (Pb) Jejury (Maharashtra) & Goa


2/25

2

VISION ,MISSION AND ASPIRATIONS

VISION: GARUDA

Vision-2012

Achieve significant business in Proprietary prescription products by 2012With astrong presence in developed markets

Mission

To become a Research basedInternational pharmaceuticalcompany

Aspirat ions-2012

Aspire to be a$5 billion company become a Top 5 global generics player significantincome from Proprietary products


3/25

3

GROWTH SCENARIO

Indias pharmaceutical industry grew at 15.7% during December 2011.Globllay India

ranks third in term of manufacturing product by volume. The Indian pharmaceutical

industry grow at a rate of 9.9 till 2010 and after that 9.5 till 2015.the India

pharmaceutical market is expected to touch US$ 74 billion sales by 2020 from US$

11billion. The market has the further potential to reach US$70billion by 2020 in an

aggressive growth scenario.

Moreover, the increasing population of the higher income group of country will open

a potential US$8billion market for multinational company selling costly drugs by

2015. Beside the domestic Pharma market is estimated to touch US$20 billion by

2015, making India a lucrative destination for clinical trials for global giants.

Further estimate the healthcare market in India to reach US$ 31.59 by 2020.

The above graph shows the percentage of pharmaceutical products export by

various countries.

(SOURCE: Competitiveness of the Indian pharmaceutical Industry in the new

product patent regime a report by FICCI)

0

10

20

30

40

50

60

70

India Italy Spain China Taiwan Hungary Israel

61 60

25

22

9

57


4/25

4

The Indian Pharmaceutical is highly fragmented with more than 20,000 registered

units. It has expanded drastically in the last two decades. The pharmaceutical

industry in India is an extremely fragmented market with serve price competition and

government price control. The pharmaceutical industry in India meets around 70% of

the country's demand for bulk drugs, drug intermediates, pharmaceuticalformulations, chemicals, capsules, tablets, orals and injectibles. There are

approximately 250 large units and 8000 small scale units which form the core of the

Indian pharmaceutical industry. (Including 5 Central Public Sector Units)


5/25

5

ADVANTAGES IN INDIA

The Indian pharmaceutical industry, particularly, has been a front runner in a wide

range of specialties involving complex drugs manufacture, development and

technology. With an advantage of being highly organised sector, the pharmaceutical

companies in India are growing at a rate of US$ 4.5billion, registering further growth

of 8-9% annually.

More than 20,000 registered units are fragmented across the country and report

says that 250 leading Indian pharmaceutical companies control 70% of the market

share price competition and government price regulations.

Competent workforce:India has a pool of personnel of high managerial and

technical competence as also skilled workforce. It has an educated workforce and

English is commonly used. Professional services are easily available.

Cost effect ive chemical syn thesis:Its track record of development, particular in

the area of improved cost beneficial chemical synthesis for various drug molecules is

excellent. It provides a wide variety of bulk drugs and export sophisticated bulk

drugs.

Legal and f inancia l frame w ork:India has a 53 years old democracy and hence a

solid legal framework and strong financial markets. There is an already an

established international industry and business community.

Inform at ion and technology :It has a good network of world class educationalinstitutions and established strengths in information technology.

Global isat ion:The country is committed to free market economy and globalisation.

Above all, it has a 70 billion middle class market which is continuously growing.

Consol idat ion:For the first time in many years, the pharmaceutical industry is

finding great opportunity in India. The process of consolidations, which has become

a generalised phenomenon in world pharmaceutical industry, has started taking

place in India.


6/25

6

OPERATING JOINT VENTURES AND SUBSIDIARIES OF RANBAXY

USA

Brazil

China Egypt

Hong-Kong

India

Ireland

Malaysia

Netherland

Poland

South Africa

Thailand Vietnam

Nigeria

Panama


7/25

7

VARIOUS DIVISION OF RANBAXY LAB. LIMITED

Chemical division

Animal division

Diagnostic Stan care

International

Pharmacy

Technical

Corporate care

DIVISION IN GEOGRAPHICAL AREAS

India & middle east

Europe, Africa, CIS

Asia pacific & Latin America

North America


8/25

8

RANBAXY IN PAONTA SAHIB

Ranbaxy plant at Paonta Sahib was established in1992. The location spread over an

area of 46acres and is situated near the town Paonta Sahib. It is surrounded byagriculture land on three sides and the Yamuna bank on the fourth side. Ranbaxy

plant at Paonta Sahib is divided in to two plants.

Fermentation plant

Pharmaceutical plant

The Pharma division is further divided into administration block, quality control lab.

Tablet and capsule block, maintenance department, ware house, soft general block

and water purification plant. The site also has a pilot plant for carrying out

development trials on fermentation based product. This segregated for its facilitiesand stilts.

The site has different manufacturing of tablets and sgc (soft gel capsules) with a

common warehouse production. Block a is used exclusively for manufacturing

tablets product with an installed capacity of 800 million tablets per annum. Block b

is used exclusively for the manufacturing of capsules with an installed capacity of

240 million capsules per annum.

Fermentation division is also similarly divided into quality control, production

department etc. the person working in various departments may be immediately

identified by the color of the uniform they wear.

The ranges of the products, which are manufactured in this plant, are quinolone,

anti-bacterial and antihistamines. 90% of the products manufactured in the plant and

exported to various western countries like USA, Spain 7 Canada.


9/25

9

RESEARCH METHODLOGY

Research is commonly refers to the search for knowledge. It is the scientific and

systematic search for pertinent information on a specific topic. In fact research is an

art of scientific investigation.As by Clifford Woody "Research comprises of defining and redefining the problems,

formulating hypothesis or suggesting solutions, collecting , organising and evaluating

the data, making deduction and reading the conclusion and at last carefully testing

the conclusion to determine whether they fit formulated hypothesis."

RECOMMENDATION

INTERPRETATION OF DATA

ANALYSIS OF DATA

COLLECTION OF DATA

EXTENSIVE LITERATURE SURVEY

FORMULATION OF RESEARCH PROBLEM


10/25

10

OBJECTIVE OF STUDY

To study the short financial position.

To test liquidity of firm.

To study the CSR of Ranbaxy laboratory


11/25

11

WORKING CAPITAL & FINANCIAL ANALYSIS OF RANBAXY

INTRODUCTION OF WORKING CAPITAL:

Every business needs funds for two purposes- for its establishment and to carry out

its day to day-to-day operation. long term funds are required to create productionfacilities through purchase of fixed assets such as plant and machinery, land,

building, furniture,etc. Investments in these assets represent that part of firms capital

which is blocked on permanent or fixed basis and is called fixed capital.

Funds are also needed for short term purpose for the purchase of raw material,

payment of wages and other day to day expenses, etc. These funds are known as

working capital. In simple words, working capital refers to that part a firms capital

which is required for financing short term or current asset such as cash, marketable

securities, debtor and inventories. Funds, thus, invested in current asset keep

revolving fast and are being constantly converted into cash and this cash flow out

again in exchange for other current assets. Hence it is also known as revolving or

circulating capital.

In the words of Shubin, working capital is the amount of funds necessary to cover

the cost of operating the enterprise.

CONCEPT OF WORKING CAPITAL

There are two concept of working capital- gross and net working capital

Gross working capital refers to the firm investment in current assets. Current

assets are the assets which can be converted into cash within an accounting

year and includes cash, short term securities; debtors (account receivable or

book debts0, bills receivable and stock (inventory).

Net working capital refers to the differences between current asset and

current liabilities. Current liabilities are those claims of outsiders which are

expected to mature for payment within an accounting year and include

creditors, bills payable and outstanding expenses. Net working capital can be

positive or negative. A positive net working capital will rise when current asset

exceed current liabilities. A negative net working capital occurs when current

liabilities are in excess of current asset.

Net working capital = current asset current liabilities

= 104582.33 - 82756.66

= 21825.67


12/25

12

FACTORS DETERMINING THE WORKING CAPITAL

Nature of business: The working capital requirement of a firm basically

depends upon the nature of its business. Public utility undertaking likeelectricity, water supply and railway need very limited working capital because

they offer cash sales only and supply services, not products and as such no

funds are tied up in inventories and receivable. On the other hand trading and

finance firm require less invest of working capital in fixed assets but have to

invest large amount in current assets like inventories, receivable and cash as

such they need large amount of working capital. The manufacturing

undertaking requires relatively sizable working capital along with fixed

investment. Generally speaking it may be said that public utility undertaking

require relatively very large amount, whereas manufacturing undertaking

require sizeable working capital between these two extreme.

Size of business :The working capital requirement of a concern are directlyinfluenced by the size of its business which may be measured in term of scale

of operation .greater the size of a business unit , generally larger will be the

requirement of working capital

.

Production policy: In certain industry the demand is subject to widefluctuation due to seasonable variation .the requirement of working capital in

such cases depend upon the production policy .the production could be kept

either steady by accumulating, inventories during slack period with a view to

meet high demand during the peak season and increased during the peak

season. If the policy is to kept production steady by accumulating inventories

it will require higher working capital.

Manufacturing process/length of production cycle: In manufacturingbusiness the requirement of working capital increases in direct proportion of

length of manufacturing process. Longer the process period of manufacture;

larger the amount of working capital required. The longer the manufacturingtime the raw material and the other supplies have to be carried for a longer

period in the process with progressive increment of labour and services cost

before the finished product is finally obtained.

Seasonal variation: In certain industry the raw material is not availablethroughout the year. They have to buy raw material in bulk during, the season

to ensure an uninterrupted flow and the process them during the entire year.

A huge amount is thus blocked in the form of material inventories during such

season which give rise to more working capital requirement. Generally during


13/25

13

the busy season a firm require large r working capital than in the slack

season.

Working capital cycle: In a manufacturing concern the working capital

cycle start with the purchase of raw material and ends with the realisation ofcash from the sale of finished product. This cycle involves purchase of raw

material and stores ,its conversion into stocks of finished goods through work

in progress with progressive increment of labour and service cost ,

conversion of finished stock into sales, debtors and receivable and ultimately

realisation of cash and this cycle continues again from cash tom purchase of

raw material and so on.

Rate of growth of business: The working capital requirement of aconcern increase with the growth and expansion of the business activities

.although it is difficult to determine the relationship between the growth in thevolume of business and the growth in the working capital of a business yet it

may be concluded that for normal rate of a expansion in the volume of

business , we may have retained profits tom provide for more working capital

but in fats growing concern we shall require larger amount of working capital.

Price level change: Change in the price level also affect the workingcapital requirement.Gnerally the rising price will require the firm to maintain

larger amount of working capital as more funds will be required to maintained

the same current assets .the effect of rising price may be different firms .some

firms may be affected much while some other may not be affected at all by the

rise in price.

Other factor: Certain other factors such as operating efficiency,management ability, irregulatries of supply, import policy, assets structure,

importance of labour, banking facilities, etc, also influence the requirement of

working capital.


14/25

14

FINANCIAL ANALYSIS OF RANBAXY

Every company has to have a balanced capital structure; means there should be

balance of debt and equity in the company's financial structure. Traditionally, firms

have looked at certain ratios to access whether they have an satisfactory capital

structure. The commonly used ratios are:

Interest coverage ratio, Cash flow coverage ratio, Debt service coverage ratio and

fixed asset coverage ratio.

INTEREST COVERAGE RATIO = Earnings before Interest and Taxes

Interest on Debt

CASH FLOW COVERAGE RATIO = EBIT+ Deprecation+ other non cash charges

Interest on debt+ Loan Repayment Instalment/(1-t)

DEBT SERVICE COVERAGE RATIO= (PATi + DEPi + INTi + OAi)

(LRIi)

FIXED ASSET COVERAGE RATIO = Fixed Assets

Term Loans

CURRENT RATIO = Current Assets

Current Liabilities

PROPRIETORY RATIO/ EQUITY RATIO = Shareholder's Funds

Total Assets

SOLVENCY RATIO = 100 - Proprietary Ratio


15/25

15

Here, the company has Earning Gross Profit (PBITDA) Rs (22642.7) and the

deprecation amount given in the balance sheet is 3940.17, this amount will be

deducted from the PBITDA, it would be 26582.87.

Interest expense is Rs. 768.16.

Interest Coverage Ratio = Earnings before Interest and taxes

Interest on Debt

ICR = (26582.87)

768.16

= 34.60

Internal coverage indicates the number of times interest charges are covered by the

profit available to pay the interest charges.

Generally, higher the ratio, safe is the long term loans/debts/creditors, because even

if the profits fall, the firm shall be able to meet its fixed interest obligations out of

profits.

The cash flow coverage ratio is a distinct improvement over the interest

coverage ratio in measuring the debt capacity, it covers the debt serviceburden fully and focuses on cash flows. However, it too it characterised by the

problem of establishing a suitable norm by judging its adequacy. Here the

company has the PBT of Rs.10480.04 and it has paid interest of Rs.768.16 so

the EBIT is Rs.11248.20 in EBIT we add deprecation of Rs.3940.17 and there

is Rs.110.06 Fixed assets written down as other non cash charges. Company

has paid Interest of Rs.768.16. Loan repayment amount is Rs.3019.38 and

tax rate is 0% (as losses incurred).

CFCR is as under

CASH FLOW COVERAGE RATIO = EBIT+ Deprecation+ other non cash charges

Interest on debt+ Loan Repayment Instalment/(1-t)

CFCR = (26582.87)+3940.17+110.06

768.16


16/25

16

= 15298.43

768.16

= 19.52

The logic of the ratio is that the payments are to be made out of cash inflows of the

business. Generally, higher the coverage better it is, as far as, long term solvency of

the firm is concerned.

From the cash flow statement we can see that company is capable of repayment of

its debt more than 19 times from its internal cash flows. Company need not to take

more debt for repayment of the debt so it is good for the company that it will benefit in

the future because there will be less amount of interest company have to pay as it will

have less debt. There will be increase in cash flow in future because company can

pay its debt right now or it can hold the debt for the short term as it has interest

repayment ratio more than 14 times from its profit. Company will have good credit inmarket and can have more amount of debt because of good loan repayment history.

Financial institution which provides the bulk of long term debt finance judge

the capacity of the firm in terms of its debt coverage ratio. Normally financial

institution regard a debt service coverage ratio of 2 as satisfactory, if the ratio

is less than 2 the maturity period of taken loan for the repayment of the debt is

enough for the adjustment but if it is more than 2 the loan repayment period is

shorter so the company will have to make the adjustments for the debtcoverage and for the loan repayment also. Here, the company has total PAT

of Rs.10480.04. Total depreciation is Rs.3940.17, total interest paid is

Rs.768.16 , total loan repayment is Rs.3019.38. Putting all the figures in the

DSCR formula

DEBT SERVICE COVERAGE RATIO= (PATi + DEPi + INTi + OAi)

(LRIi)= 10480.04+768.16+3940.17+0

2369.38+4023.41-3373.41

Where, the amount Rs.2369.38 is for the secured loans of previous year 2010 and

the amount Rs.3373.41 is for the calculated year 2011 and Rs.4023.41 is for the

proceeds from long term bank borrowings.

= 15188.37

3019.38


17/25

17

= 5.03

The company has a very good DSCR it is more than 2 so we can say that company

whatever the loans the company has taken its repayment times is shorter so

company will have to seek for the other resources for the balance of the leverage.

There are less possibilities for the company to take more loans now because herethe ratio suggests that the company is almost having less loan repayment period and

at this time company can only afford equity. Equity will increase the repayment

amount of loans without affecting the debt.

FACR is the main ratio because it indicates the asset of the company from

which the financial institutions can recover the amount that has been given to

the company. Financial institution feels comfortable if the fixed asset coverage

ratio is at least 1.25. From the balance sheet we can get the amount of fixedassets which is Rs.51227.81 and the term loans are Rs.3373.41.

FIXED ASSET COVERAGE RATIO = Fixed Assets

Term Loans

= 51227.81

3373.41

= 15.18

So, the FACR is Rs.15.18.

Financial institution can trust in the company because it has crossed the minimum

requirement of FACR (1.25) which is 15.18. Company has enough assets to recover

the term loans. Company can also pay the term loan interest if FACR is more than

1.25; here it is 15.18 so it is good for the company to have term loans.

Current Ratio defines the relationship between current assets and current

liabilities. This ratio, also known as Working Capital Ratio, it is measure of

general liquidity and is most widely used to make the analysis of a short-term

financial position or liquidity of a firm. According to the balance sheet the

current assets are Rs. 104582.33 and the Current Liabilities are Rs.

82756.66.


18/25

18

CURRENT RATIO = Current Assets

Current Liabilities

= 104582.33

82756.66

= 1.26

A relatively high current ratio is an indication that the firm is liquid and has the ability

to pay its current obligations in time as and when they become due. A relatively low

current ratio represents that the liquidity position of the firm is not good and the firm

shall not be able to pay its current liabilities in time without facing difficulties. a ratio

equal or near to the rule of thumb of 2:1, current assets double the current liabilitiesis considered. As the current ratio is 1.26 which is less than the desired means that

the company liquidity position is not so good and the firm shall not be able to pay its

current liabilities in time.

A variant to the debt-equity ratio is the proprietary ratio which is also known as

Equity or Shareholders to Total Equities Ratio or Net Worth to Total Assets

Ratio. This ratio establishes relationship between shareholder's funds to total

assets of the firm. Given the Shareholder's funds(Share capital+ Shareapplication money pending allotment) is Rs.40359.42 and Total Assets(Fixed

Assets+ Investments+ Current Assets and loan and advances)is

Rs.156792.34

The calculation is been given below:

PROPRIETORY RATIO/ EQUITY RATIO = Shareholders Funds

Total Assets

= 40359.42

156792.34

= 25.74%

Since the ratio is low, the long-term solvency position of the company is not good.

This ratio indicates the extent to which the assets of the company can be lost without

affecting the interest of creditors of the company.


19/25

19

Solvency ratio is a small variant of equity ratio and can be simply calculated

as 100-equity ratio. The ratio indicates the relationship between the total

liabilities to outsiders to total assets of a firm and is calculated as follows:

SOLVENCY RATIO = 100 - Proprietary Ratio

= 74.26%

Since higher is the ratio of total liabilities to total assets, less satisfactory or stable is

the long-term solvency position of a firm.

Debt-Equity Ratio, also known as External-Internal Ratio is calculated to

measure the relative claims of outsiders and the owners against the firm's

asset. This ratio indicates the relationship between the external equities or the

outsiders funds and the internal equities or the shareholders funds.

DEBT-EQUITY RATIO = External Equities

Internal Equities

External Equities = Secured loans + Unsecured loans + Current Liabilities

= 3373.41+41533.88+53188.92

= 98096.21

Internal Equities = Shareholder's fund + Reserves

= 40359.42

DEBT-EQUITY RATIO = 98096.21

40359.42

= 2.43

The debt-equity ratio is calculated to measure the extent to which debt

financing has been used in a business. The ratio indicates the proportionate

claims of owners and the outsiders against the firm's assets.

The purpose is to get an idea of the cushion available to outsiders on the

liquidation of the firm. A ratio of 1:1 may be usually considered to be

satisfactory ratio.

Since the calculated ratio is 2.43:1, a higher ratio than the satisfactory ratio.


20/25

20

Therefore, it indicates that the claims of outsiders are greater than those of

owners, may not be considered by the creditors because it gives a lesser

margin of safety for them at the time of liquidation of the firm.

(Figures in millions)


21/25

21

CORPORATE SOCIAL RESPONSIBILITY OF RANBAXY

DEFINITION

Corporate social responsibility is the continuing commitment by business to behave

ethically and contribute to economic development while improving the quality of life

of the workforces and their families as well as of the local community and society at

large.

CSR OF RANBAXY

In 1978 in wake of grim health scenario in India, Ranbaxy realised the urgency to

reach out to the under privileged section of society that had little or no access to

basic health care. The company took conscious decision to contribute toward thenational objective health for all. Toward this end the Ranbaxy ruler development

trust was setup and the first well equipped mobile health care was introduced in

certain underserved areas of Punjab. The Ranbaxy community health care society

(RCHS) an independent body was created that is devoted to the health of the

disadvantaged.

Ranbaxy benefit over two lakh people in certain indentified area in state of

Punjab Himanchal Pradesh, Haryana, Delhi and Madhya Pradesh. The

program is based on an integrated approach of preventive, primitive and

curative services, covering areas of maternal child health, family.

Ranbaxy entered into public private paternership with the Punjab state

government, to deliver healthcare service in identified district of Punjab.

In order to encourage scientific endeavour in the country, Ranbaxy presented

research award and Ranbaxy science scholar award to 12 outstanding Indian

scientist and 9 brilliant young scholars.

Symposia and round table conference were also organised on topic related to

womens health, immunogenomics infectious diseases and pandemic

influenza.

Ranbaxy science foundation is a non profit organisation dedicated to promotescientific endeavours in the country by encouraging and reward and

challenging national and international knowledge and expertise on subjects

connected with treatment of diseases afflicting mankind.

List of services provided by Ranbaxy:

Treatment of common ailment

Maternal &child health

Antenatal caremmunization-(BCG ,diphtheria ,hepatitis b polio

,whooping cough ,tetanus& measles) Growth monitoring


22/25

22

Safe motherhood

Vitamin a, prophylaxis of nutritional blindness

Treatment of diarrhoea & pneumonia

Postnatal care

Family planning Prevention and treatment of sexually transmitted diseases& reproductive tract

infections

Control of disease outbreak

Health education AIDS awareness

School health

Adolescent health

Home visits by ANM


23/25

23

CONCLUSION

The accumulated losses of the company at the end of the year are not less than 50%

of its net worth. Further, the company has incurred cash losses in the current

financial year.

According to the information and explanation given to us the company has not

defaulted in the repayment of the dues to its bankers and financial institutions.

The company has not granted any loans and advances on the basis of security by

way of pledge of shares, debenture and other securities.

The financial position of the company is also not good as the company has no proper

financial leverage and also the company is not dealing or trading in shares,

securities, debentures and other investment.

According to the information and explanation given to us, except term loans lying

unutilized as at year end, the term loans taken by the company have been applied

for the purpose for which they are raised.The solvency position of the company is also not good as the long term funds lower

than long term assets and also excess managerial remuneration been paid by the

company.

The company has not made any preferential allotment of the shares during the year

to parties and companies/ firms.

The company did not have any outstanding debentures during the year.

The company has not raised any money by public issues during the year.

No frauds on or by the company has been noticed or reported during the course of

the audit.

CSR is welfare for society and crucial for the success of business. The Ranbaxy play

important contribution to maintain the health of rural area people and also contribute

their efforts in R&D to develop new medicines to control the diseases. So, a

distinctive CSR profile serves of an organisation is very crucial for the success of

business.


24/25

24

LIKELY LIMITATIONS OF THE STUDY

Topic is vast but availability of information and timeline is short.

The scope of study is limited to Paonta Sahib.

There may be discrepancies in the actual data and the recorded data due to

misinterpretations.

Unable to meet the decision maker of the organization.

Due to busy schedule of Officials proper feedback is not possible.


25/25

BIBLIOBRAPHY

WEBSITES:

http://www.ranbaxy.com

ONLINE JOURNALS:

- Cygnus Business Consulting and Research

Indian Pharmaceutical Industry- OCTOBER-DECEMBER 2011

- FICCI

Report for National Manufacturing Competitiveness Council (NMCC)

ANNUAL REPORT: 2009-2010

: 2010-2011

BOOKS:

- Financial Management

(7th Revised Edition)

By S.K Gupta and R.K Sharma

-Financial Management

(Sixth Edition)

By M Y Khan and P K Jain

(Tata McGraw Hill Education Publishing Company Limited)- Financial Management

(Sixth Edition)

By Prasanna Chandra

(Tata McGraw Hill Education Publishing Company Limited)
http://www.ranbaxy.com/http://www.ranbaxy.com/http://www.ranbaxy.com/

introduction to ranbaxy

Documents