Samsung Electronics And Its Managerial Essay Example | Topics and Well Written Essays - 1500 words

Samsung Electronics And Its Managerial - Essay Example The study will investigate the electronics industry in general and it will focus on Samsung Electronics and its managerial, operations and product distribution style as a model which can be duplicated by Chinese Companies. Samsung rose from the bottom of a mass produced, low price, export dumping electronic company to be situated as the number three electronic company in the global market. There are no Chinese Companies which hold this distinction of being a leader in any industry. The study will point out why and how the Korean Company has become an industry leader. The study will pursue this topic because Samsung’s management and operations style is extremely successful, and its importance as a business model can serve as an example to other companies on how an aggressively focused Research and Development department, and a well thought out marketing concept can make the difference in a company’s bottom line. The beneficiaries will at a minimum be two-fold; for studen ts who are interested in how a successful company plans its short and long term objectives for project development. How important it is to identify your primary market during the conception and development of a product and how critical it is to produce high-end quality products and not waver on corporate pricing structures. It will exhibit to the business the person how critical it is to establish policy and make it stick. The information presented by the study will provide the inner details of a strategy which exhibits sound long-range business.... style is extremely successful, and its importance as a business model can serve as an example to other companies on how an aggressively focused Research and Development department, and a well thought out marketing concept can make the difference in a company's bottom line.The beneficiaries will at a minimum be two fold; for students who are interested in how a successful company plans its short and long term objectives for project development. How important it is to identify your primary market during the conception and development of a product and how critical it is to produce high-end quality products and not waver on corporate pricing structures. Moreover, it will exhibit to the business person how critical it is to establish policy and make it stick. The information presented by the study will provide the inner details of a strategy which exhibits sound long range business planning and reflects positive results, based on a system which is successful. 3 Section 2 The objectives of the study will be to show that the system which Samsung functions under is replicable and can be applied to any business which is committed to remain focused. Section 3 "Samsung Electronics, the consumer electronics giant in Korea, posted its financial performance for the first quarter, 2006 at 13.96 trillion won, which represents a one percent growth compared to the first quarter of 2005" (Survival) "Samsung electronics revealed this year's TFT - LCD monitor sales through November. The company has maintained its world market leadership by selling 5

Factors Contributing to Cultural Identity

Factors Contributing to Cultural Identity Cultural identity is assumed to be multidimensional and multifaceted due to cultural diversity and globalization. The concept of cultural identity is relational and constantly evolving. However, it can also be ambiguous, fragmented, paradoxical, and problematic. In resolving these challenges, immigrants undergo self and cultural identity transformation in order to achieve understanding, harmony, and balance within themselves, their environment, and their connection with others . It is necessary to address the definition of culture before discussing cultural identity. Nieto states that culture consists of an ever-changing system of values, traditions, social and political relationships, and world views created and shared by a group of people bound together by a combination of factors that can include shared history, geographic location, language, social class, and/or religion, and how these are transformed by those who share them. In everyday social situations, we use culture to express and give meaning to our identity, which in turn is used to construct affiliations with and boundaries between other individuals and groups . Many historians provided different definitions of cultural identity; some important definitions are given here: According to Lustig and Koester, cultural identity is a sense of belonging to a particular culture or ethnic group. It is formed in a process that results from membership in a particular culture, and it involves learning about and accepting the traditions, heritage, language, religion, ancestry, aesthetics, thinking, patterns, and social structures of culture . Stuart Hall gave two different ways of thinking about cultural identity: the first in terms of one, shared culture, a sort of collective one true self, hiding inside the many other, more superficial or artificially imposed selves, which people with a shared history and ancestry hold in common. Cultural identity, in the second sense, is a matter of becoming as well as of being. It belongs to the future as much as to the past. It is not something which already exists, transcending place, time, history and culture. Cult ural identities come from somewhere, have histories. However, like everything which is historical, they undergo constant transformation. Far from being eternally fixed in some essential past, they are subject to the continuous play of history, culture and power . Culture and cultural identity in the study of intercultural relations have become umbrella terms that subsume racial and ethnic identity. This means both racial identity and ethnic identity lead to the development of the concept of cultural identity. However, these terms have different meanings. For example, race is a classification of the humans, usually by genetic similarities passed hereditarily. Ethnicity has a range of distinctive features, passed by socialization from one generation to another. There are never clear boundaries, cultural or geographic, that mark the limits of ethnic groups, but a group usually shares common culture, language, religion, and behaviors . In this paper, the term ethnic identity is more often synonymously used to refer to cultural identity. However, as I discussed in the previous chapter acculturation is different from ethnic identity. These two are related but separate constructs. Acculturation refers to how ethnic minority individuals adapt to the dominant culture and the changes in their beliefs, values, and behavior that result from contact with the new culture and its members. By contrast, ethnic identity involves an individuals self-identification as a group member, a sense of belonging to an ethnic group, attitudes toward ethnic group membership, and degree of ethnic group affiliation or involvement . For Asian Indians, family is the main element which influences the development of cultural identity. Mainly the parents transmit ethnic identity to their children using a process of enculturation or ethnic socialization. Parents directly and indirectly model and reinforce ethnic behaviors to their children about the traditions, beliefs, and values associated with their cultural background . Children are socialized to be obedient, and are expected to bring honor to their families by exhibiting good behavior, maintaining high academic achievement, and contributing to the well-being of the family. Furthermore, because Indian self-identity is defined by the family and is established by a surname that affiliates individuals to a religion, social class, language, and a state in India, second-generation immigrants face an added challenge of creating a sense of self based on conflicting cultural allegiances. Therefore, the process of adolescent self identification may involve a refusal to ac cept the choice of being either American or Asian Indian and an attempt to create a new self-definition by finding out how to be an Asian Indian on ones own terms rather than on the parents mode of acculturation or preferred ethnic identity . A second important difference between the parents and children is that the phenomenon of adolescence, as it is broadly conceptualized in Western society, rarely exists among traditional Asian Indian families. Although all Asian Indian cultural communities have rites of passage associated with the onset of biological puberty, there is no corresponding change in adolescents roles, status, responsibilities, or autonomy in decision-making . Thus, given the differences between the belief systems of Western and Indian societies and the fact that most immigrant parents expect their children to maintain the traditional values and lifestyles of Indian culture, misunderstanding, miscommunication, and conflict are likely to occur in Asian Indian families . The common pattern for first-generation Asian Indians is to affirm their ethnicity, generally by reinventing Asian Indian culture on foreign soil (Dasgupta, 1998, p. 965-966). Often, Asian Indian immigrants are more Indian than the people they left behind, and they may retain a sense of a culture that no longer exists on the Indian continent. Despite the influence of social class and generation on their cultural identity and world view, many maintain a traditional value system many years after immigration . However second-generation Indian Americans, who do not maintain the traditional value system of their parents, understand the influence of their new culture also affects their ethnic identity development. Uba noted that there are three aspects of Asian American ethnic identity that can be distinguished. These aspects are 1) consciousness of ethnicity, 2) adoption of an ethnic identity; and 3) application of that ethnic identity. Some Asian Americans will strongly identify with many aspects of Asian American ethnicity, but some will only acknowledge that they belong to an Asian American ethnic group. Furthermore, they may deny that they have anything in common with members of their ethnic group . Some may identify with their ethnic group to the extent of knowing the history of the ethnic group and still see the ethnic group as irrelevant today, and some others may identify socially with the ethnic group but have no knowledge of its history . Formation and Development of Cultural Identity The process of identity formation has received much attention in literature. Many models have been proposed to explain the process of identity formation in various ethnic and cultural minority groups. A common feature of these models is that identity formation of ethnic and cultural minorities in the United States occurs in the context of the dominant culture. Phinney maintained that the process of identity formation does not proceed in a linear direction. He proposed a bi-directional model based on an ethnic persons affiliation with his or her ethnic group and his or her acculturation in the mainstream White culture. This model allows an ethnic person four possibilities: a) a strong bicultural identity, b) a strong ethnic identity but a weak identification with mainstream culture, c) a weak ethnic identity but a strong identification with mainstream culture, and d) a weak identification with both cultures. Most educated South Asian immigrants probably fall in category a) with a relatively small number in b) and c), and only a few in category d) . Nieto states individuals growing up in a multicultural environment may develop multicultural and hybrid identities. That is, race, ethnicity, gender, social class, ability, national origin, religion, and other differences combine to influence who immigrants are and how they identify themselves. I mmigrants identify in multiple ways, based on such factors as family structure, race, sexual orientation, and national origin. In spite of these differences, they share a need to belong and to feel free to explore who they are. According to this, identities also change in response to the sociopolitical contexts in which people live. Further, Nieto states that identities have been shaped and continue to be influenced by the people with whom one interacts and the material and social conditions of ones lives . This is, in fact, what Lessinger found in her study, which indicates that people have developed what she calls a transnational identity . Another influence on identity formation that is important to consider is the identity that the dominant White society assigns to members of the visible racial and ethnic groups. The degree to which this affects individual members of a particular group varies from person to person. The whole question of ethnic identity becomes more complex. In the case of biracial children, the numbers seem to be increasing. Sodowsky et al. have identified certain cultural value variables for Asian Indian Americans to some extent. Counselors may find them useful in trying to understand the attitudes and values of South Asian clients . Cultural identity development could involve three stages according to Phinneys model: unexamined cultural identity, cultural identity search, and cultural identity achievement . Unexamined cultural identity is the phase in which immigrants are not aware of ethnic, cultural, or racial differences between themselves and others. (During an unexamined cultural identity stage, immigrants do not typically examine or question their cultural, ethnic, or racial identity). Instead they tend to take their cultural values, norms, beliefs, customs, and other characteristics for granted and are not aware of ethnic, cultural, or racial differences between themselves and others. They rarely show any interest in discovering their backgrounds. However, over time immigrants are confronted with cultural, ethnic, and racial conflict that creates difficulty and confusion in their lives. During this time, they begin their cultural identity search regarding self and others. The immigrants may experience a personal event, hear a comment made by a friend or neighbors or see a message through mass media such as television, the internet, a newspaper, a magazine, or a billboard that triggers a question about their ethnic, cultural or racial identity. They become aware of cultural, ethnic, and racial differences and begin to explore and discover aspects of identity. They may pursue social interaction with cultural and ethnic groups with which they identify, and they may participate in ethnic, cultural, social, and service organizations. In this continuous process, they also reflect and evaluate themselves, others, the world, and how they fit within the various groups. The individuals values, morals, ethics, and beliefs are being influ enced and shaped . In extending Phinneys second phase of cultural identity development, some immigrants experience an identity crisis during this stage. Immigrants struggling with an identity crisis often perceive themselves as belonging to a particular ethnic, cultural, and racial group, but their peers are communicating to them that they do not belong to their group because they do not have similar physical and behavioral characteristics. An immigrant as a minority in a dominant group who denies their ethnic, cultural, and racial identity is known to have an identity crisis. In addition, if the person is exposed to cultural events, activities, educational material, and friendships from the same cultural/ethnic group, this will help him or her to develop a healthy ethnic/cultural identity . When Asian American Indian immigrants suffer a crisis, they revert to their Asian heritage and reject all mainstream and other ethnic minority assumptions and values. Sue explained about this stage that, they may seek out and set up tentative alliances with other minority groups that have been similarly oppressed. Sue further noted that these alliances can be fragile and may disappear when Asian Indian Americans have conflicts with other minorities . The final phase is a cultural identity achievement, where individuals have developed a fairly solid grasp of their own cultural identity. They have reached a state of clarity, confidence, understanding, appreciation, and acceptance of that identity. If they are confronted with discrimination and stereotypical comments, these individuals are able to avoid internalizing the negative communications. This does not mean that negative comments by others are not hurtful to the individual, but that he or she does not question his or her cultural identity. The immigrant generation accepts cultural differences in this stage. There is no pre-encounter or conformity stage as postulated by the models of minority ethnic identity models. The acceptance of cultural differences is a reality of life for this group. In this stage, most Asian Americans are proud of their identity and do not consider it a hindrance. They have completely bought into the American dream that hard work will overcome all diff erences . All these stages of identity formation and development differ for the first, second or third-generation of Asian Indian Americans. The cultural identity development of Asian Indian Americans depends on different elements such as gender, age, class, spiritual, national, regional, and personal identities, which will be considered in more depth below. Elements of Cultural Identity There are various elements of cultural identities such as race, gender, age, class, spiritual, national, regional, and personal identities. Some of these elements are discussed with respective of Asian Indian Americans. Race Research on Asian Americans has assumed race as the most significant, or salient, aspect of identity. Racial identity refers to a sense of group or collective identity based on ones perception that he or she shares a common heritage with a particular racial group . Racial identity most often categorizes individuals based on skin color. Furthermore, people tend to focus on the most visible characteristics, usually regarding race and sex. South Asians are generally regarded as part of visible racial and ethnic minorities. However, Indian immigrants come in all skin colors, from fairest to darkest, and have different facial features. Indian college students, despite their relatively higher educational and occupational status, struggle with an idea of an exclusive racial identity . Gender Gender identity deals with the feminine, masculine aspect of identity. Gender may be a variable in cultural identify in those cultures in which men are more likely to get jobs in the mainstream culture while the women remain at home. There may also be different cultural expectations for men and women, such as the assumption that women are the carriers of ethnic traditions. The very little research that addresses this issue suggests a greater involvement in ethnicity by women than by men. Gender roles are clearly demarcated in Asian Indian American cultures. Obviously, the migrating generation would be most rigid in its definition of gender roles . According to Indian culture, men and women would be strictly bound by the demands of their ethnic culture and their host culture. For instance, men manage business outside the home, while women manage the home. This practice is more widespread in India; to a certain degree it reflects attitudes in the United States as well, though this cust om has slowly been losing its appeal. The role of men and women among Asian Indian Americans varies with generational and educational level, as well as with social class, and economic stability. Men experience a great deal of stress in regard to their role, especially in cross cultural contexts. As immigrants, their family expects them to display their authority in order to make clear to other cultural groups that they are in control of their family. Also, men make the final decision on major topics such as career and property matters, however, women participate in the decision making process, only through private conversations with their husbands. Accordingly, this separation of gender roles also creates a considerable social segregation between the two genders . This however does not mean that the men were able to make decisions without regard for the opinions of others. In actuality, the power and control in the family reside with the oldest person, regardless of gender, and even when the oldest person in the family is far away . Woollett et al. noted that among Asian Indian women, the social construction of gender and ethnicity is fluid and changing, based on the maternal status of the woman. They also state that ethnicity and ethnic identity are not homogenous categories, but operate across gender. The experience of marginality, and being on the outside of the host culture, creates stronger bonds within a family and less rigid gender identification and boundaries . Age Age is the dimension where interactants may identify themselves as young, middle-aged, and old based on actual age, appearance, and how they feel. Parents are to be honored and revered. It is assumed that the older a person gets, the more maturity and knowledge he or she has. Older people are respected for these attributes. Families go to elders to resolve familial conflicts. They also turn to older family members for advice and support when they are in a crisis or when relationships are disrupted in social or work relationships . Children of South Asian immigrants are socialized into two cultures, the culture of the family and the culture of the larger American society. Most parents try to inculcate ethnic pride and awareness of their cultural heritage in their children. For young school-age children, this sometimes poses a problem. They stand out because of their physical appearance and for that reason are often teased or rejected by other children. Most young children lack the inner resources to deal with such hostility and to base their self-esteem on their ethnic heritage. They want to be like everyone else so they can fit in with the crowd and shed any cultural trait that sets them apart.

Mafia - Original Writing :: Papers

Mafia - Original Writing â€Å"Bang, bang, bang!† Francesco fell to the ground with a thunderous thud. His body on top of Fabio’s, who was taken out only moments earlier. Marco was the only one left; this attack has completely gone wrong. He hid behind a crate in the dark room, surrounded by five other men, all his compatriots have been killed or seriously injured. â€Å"Bang, bang† Marco shot blankly around the room; his inexperienced had just cost him dearly, those two shots gave a clear indication of his whereabouts. One of the men crept up behind him, and smashed his solar plexus with a baseball bat. Soon all five men were circling around him; an elbow struck him in the face, at this point his vision was blurred he couldn’t see clearly anymore. Shortly after the attack towards his face, he received a huge blow in the kidney area, he slowly went down. He could hear the chatter amongst the five men; he could hear their footsteps walking away from him. Marco’s once gigantic figure, lay there motionless, in too much pain to move any part of his body. Thoughts started rushing through his head, the events of the past week, has completely changed his life. A week ago, 16th July 1928, Marco Camoranesi was an ordinary man, earning average income, as a taxi driver in the busy street of New York. That night at about 1:30 in the morning, two middle-aged men entered his taxi. Marco approached them in his usual friendly way, but he soon realized that these men weren’t your ordinary New-Yorker. â€Å"Just loose those two cars behind us, you will be rewarded.† Marco was frightened, he knew that there were Mafia gangs around where he lived, but he was one of those people that thought that he was never going to see or be involved in their activities. â€Å"B†¦..but†¦Ã¢â‚¬  Marco stutters, but he had no chance to finish, as one of the men behind him put a gun on his head, â€Å"Drive!!!† Marco had no

Blue shark

Dear George Brady, Hello, my name is Patricia Dwell, I am 14 years old and I got to the Cole Leila North School. My class read the book â€Å"Henna's suitcase† and we learned information's about the holocaust. The â€Å"Henna's suitcase† book taught me a lot, it taught me to appreciate what and who I have in my life. You have inspired me because you stayed strong through everything you had to go through during the holocaust. Whilst we were reading the book, I couldn't imagine what you and Hanna had to go through. I couldn't imagine having such a happy life with my family then next thing you know you're separated from you parents and sibling.First of all I am really sorry for your loss, losing your parents, grandma, and your sister in such a young age must have been really hard to go through. I could never imagine going through what all the Jews did. You're a really good person to look up to because you didn't give up on life, some people did give up and most survivors f rom the holocaust don't ever want to talk about what they went through. So I think that you are brave for deciding to move on life and also for telling yours and Henna's story. I think that it is very special how you are able to tell children about your story and each them to not Judge people for being different.You inspired me to never give up and Just stay strong Just like how you stayed strong through the holocaust and how you never gave up on finding information about your sister Hanna. What you went through was horrible and I hope no one else would ever have to go through what you did. Through separating from your parents and sister, the box cars, having to wear a Jude star etc. You stayed strong and you decided to keep living life really Inspired me. Learning about the Holocaust taught me to never Judge anybody by what they believe In and who they are.What happened during the Holocaust Is so horrible; I honestly can't believe people would treat Jews differently Just because th ey were different, and because they believed In different things. If everyone learned about the Holocaust, world war will hopefully never happen again. From what Vive learned I will for sure never Judge anyone for being different. Blue shark By g-annoyed decided to keep living life really inspired me. Believe in and who they are. What happened during the Holocaust is so horrible; I different, and because they believed in different things. If everyone learned about

Maharashtra Hybrid Seeds Company Limited Expanding Indian Agriculture to Different Nations

MAHARASHTRA HYBRID SEEDS COMPANY LIMITED 1  © This is a licensed product of Ken Research and should not be copied T ABLE OF CONTENTS 1. Executive Summary: Maharashtra Hybrid Seeds Company Limited 2. Maharashtra Hybrid Seeds Company Limited Business Overview 2. 1. 2. 2. Major Investments in the Company Evolution 2. 3. Maharashtra Hybrid Seeds Company Limited Organisational Structure 2. 4. 3. Corporate Timeline Business Model of Maharashtra Hybrid Seeds Company Limited Maharashtra Hybrid Seeds Company Limited Product Portfolio . 1. 3. 2. Field Crop Seeds 3. 3. Oil Seeds 3. 4. 4. Hybrid Cotton Vegetable Crop Seeds Maharashtra Hybrid Seeds Company Limited Financial and Valuation Analysis 4. 1. Valuation Analysis and Financial Summery 5. Maharashtra Hybrid Seeds Company Limited Analyst Recommendations 6. Maharashtra Hybrid Seeds Company Limited SWOT Analysis 7. Maharashtra Hybrid Seeds Company Limited Key Professionals 7. 1. 8. Management Profile Macro Analysis of Seed Industry 8. 1. In dian Hybrid Seed Industry Market Size, FY’2008-FY’2012 8. 2.Indian Hybrid Seed Industry Segmentations, FY’2012 8. 2. 1. 8. 3. By Type of Crops Market Share of Major Players in the Indian Hybrid Seed Industry, FY’2012 8. 3. 1. By Hybrid Cotton 8. 3. 2. By Hybrid Field Crop Seed 8. 3. 3. By Hybrid Vegetable Crop Seed 2  © This is a licensed product of Ken Research and should not be copied 9. Maharashtra Hybrid Seeds Company Limited Competitive Analysis 9. 1. By Products Offered/ Revenue/ Business Strategy 10. Maharashtra Hybrid Seeds Company Limited Management Outlook and Future Projections 10. 1. 11.Maharashtra Hybrid Seeds Company Limited Future Projection Appendix 11. 1. Market Definitions 11. 2. Abbreviations 11. 3. Research Methodology 11. 4. Disclaimer 3  © This is a licensed product of Ken Research and should not be copied L IST OF FIGURES Figure 1: Maharashtra Hybrid Seeds Company Limited Corporate Timeline 1964-2013 Figure 2: Maharashtra Hybrid Seeds Company Limited Organizational Structure Figure 3: Maharashtra Hybrid Seeds Company Limited Business Model Figure 4: Maharashtra Hybrid Seeds Company Limited Product Portfolio Figure : Maharashtra Hybrid Seeds Company Limited Financial Performance on the basis of Revenues and EBIT in INR Crore, FY’2008-FY’2012 Figure 6: India Hybrid Seed Industry Market Size and Contribution in the Overall Indian Seed Market on the Basis of Revenue in INR Crore and percentage, FY’2008-FY’2012 Figure 7: India Hybrid Seed Industry Segmentation on the Basis of Contribution in the Overall Hybrid Seed Industry in Percentage, FY’2012 Figure 8: Market Share of Major Players in Indian Hybrid Seed Market on the Basis of Contribution by Revenue in Percentage, FY’2012Figure 9: Market Share of Major Players in Indian Hybrid Cotton Seed Segment on the Basis of Contribution by Revenue in Percentage, FY’2012 Figure 10: Market Share of Major Players in Indian Hybrid Corn Seed Segment on the Basis of Contribution by Revenue in Percentage, FY’2012 Figure 11: Market Share of Major Players in Indian Pearl Millet Seed Segment on the Basis of Contribution by Revenue in Percentage, FY’2012 Figure 12: Market Share of Major Players in Indian Paddy Seed Segment on the Basis of Contribution by Revenue in Percentage, FY’2012Figure 13: Market Share of Major Players in Indian Vegetable Seed Segment on the Basis of Contribution by Revenue in Percentage, FY’2012 Figure 14: Maharashtra Hybrid Seeds Company Limited Future Projections on the Basis of Revenues and EBIT in INR Crore and Percentage, FY’2013-FY’2017 Figure 15: Non-linear Regression Analysis and Scatter Chart Based upon Indian Hybrid Seed Industry Market size, FY’2008-FY’2012 4  © This is a licensed product of Ken Research and should not be copied L IST OF TABLESTable 1: Maharashtra Hybrid Seeds Company Limited Financial Summary on the B asis of Revenue, Growth and EBIT Margin in INR Crore and Percentage, FY’2008-FY’2012 Table 2: Maharashtra Hybrid Seeds Company Limited Major Investments in Company Evaluation on the Basis Deal Type, Stake, Deal Value and Implied Enterprise Value in INR Crore Table 3: Maharashtra Hybrid Seeds Company Limited Products Offered in Hybrid Cotton Seeds on the Basis of Different Zones in India Table 4: Maharashtra Hybrid Seeds Company Limited Products Offered on the basis of Different Field Crop SeedsTable 5: Maharashtra Hybrid Seeds Company Limited Products Offered on the Basis of Different Oil Seeds Table 6: Maharashtra Hybrid Seeds Company Limited Products Offered on the Basis of Vegetable Crop Seeds Table 7: Company Comparables on the Basis of Revenue in INR Crore, FY’2008-LTM year ending 31st December 2012 Table 8: Company Comparable Analysis on the Basis of Market Capitalization, Net Debt and Enterprise Value and Valuation Multiples in INR Crore and Multiples, LT M 31 st December 2012 Table 9: Relative Valuation Analysis on the Basis of Deal Value, Deal Stake and Multiples in INR Crore, Percentage and MultiplesTable 10: Maharashtra Hybrid Seeds Company Limited Board of Directors Table 11: Company Comparables on the basis of Services Offered, Revenue and Business Strategies Table 12: Regression Coefficients of the Maharashtra Hybrid Seeds Company Limited Table 13: Regression Intercepts of the Maharashtra Hybrid Seeds Company Limited 5  © This is a licensed product of Ken Research and should not be copied E XECUTIVE SUMMARY: MAHARASHTRA HYBRID S EEDS COMPANY LIMITEDMaharashtra Hybrid Seeds Company Limited also known as Mahyco, is a privately owned company and is headquartered in Jalna, Maharashtra. Mahyco is among the largest hybrid seed producers in India. The company is involved in the research and development, production, marketing and distribution of various hybrid seeds such as cotton seeds, field crops, vegetable crops and oil seeds. T he company has a prime focus in the generation and distribution of hybrid cotton seeds in the Indian hybrid seed market.Key Differentiators ? ? ? ? More than 1,000,000 cultivators are involved in seed production Competition and Positioning ? ? ? ? Leading position in the Indian hybrid cotton market Key Developments ? World’s foremost company to commercialize F1 hybrid cotton based on GMS/CMS system ? ? ? ? Financial Summary Maharashtra Hybrid Seeds Company Limited Financial Summary on the Basis of Revenue, Growth and EBIT Margin in INR Crore and Percentage, FY’2008-FY’2012 Particulars FY’2008E FY’2009 FY’2010 FY’2011FY’2012 Revenue Growth% EBIT Profit% 6  © This is a licensed product of Ken Research and should not be copied C ORPORATE TIMELINE On 11th November 1964, the company started its operation with the prime focus towards genetic research of plant and production of different varieties of seeds. In 1966, the company star ted its first research and development center in India with an objective of develop new products and increase its penetration in the Indian seed market. In 2013, Performance Plant Inc. nd Maharashtra Hybrid Seeds Company Limited have entered into a license agreement†¦ Maharashtra Hybrid Seeds Company Limited Corporate Timeline 1964-2013 M AHARASHTRA HYBRID SEEDS COMPANY LIMITED O RGANISATIONAL STRUCTURE The company has 9 processing centers across the nation situated at Maharashtra, Karnataka, Andhra Pradesh, Gujarat, Madhya Pradesh, Rajasthan, Punjab, Haryana and Uttar Pradesh with annual seed processing capacity of over ~ quintal in these 9 centers†¦ 7  © This is a licensed product of Ken Research and should not be copiedMaharashtra Hybrid Seeds Company Limited Organizational Structure B USINESS MODEL OF MAHARASHTRA HYBRID SEEDS COMPANY L IMITED Business cycle of the company starts with the procurement of input supplies for research and development departments. Input su pplies are the principal driver for the production of new and improved hybrid seed products†¦ After harvesting of seeds, the company transfers these seeds to processing centers for further processing and quality testing†¦ 8  © This is a licensed product of Ken Research and should not be copiedOnce the products are finished and packed the company distributes these products to different distributors across the nation†¦ Maharashtra Hybrid Seeds Company Limited Business Model M AHARASHTRA HYBRID SEEDS COMPANY LIMITED P RODUCT PORTFOLIO The company has a product portfolio of more than ~ hybrid products in ~ different crop species offering hybrid cotton, field crops, oilseeds and vegetables crops. The company offered ~ types of hybrid cotton, ~ types of field crops, ~ types of oil seeds and different types of vegetable seeds verities.  © This is a licensed product of Ken Research and should not be copied The company is continuously focusing on the research and developme nts of new products such as genetically modified (GM) rice, wheat, cauliflower, pigeon pea and okra†¦ Under the guidance of Department of Biotechnology, Government of India the company has been involved in different projects for the development of new products and new technologies and also the company has entered into various partnerships with other institutions†¦Maharashtra Hybrid Seeds Company Limited Product Portfolio 10  © This is a licensed product of Ken Research and should not be copied M AHARASHTRA HYBRID SEEDS COMPANY LIMITED F INANCIAL AND VALUATION ANALYSIS V ALUATION ANALYSIS AND FINANCIAL SUMMERY Revenue of the company has shown a CAGR growth of ~ % from FY’2008-FY’2012. The company has witnessed this growth due to constant development of new products and by improvements in its current product portfolio. Mahyco has pent INR ~ core in FY’2011 on research and development as compare to INR ~ crore in FY’2010 which showcase the compan y’s interest to enhance the quality of its products†¦ In FY’2011 and FY’2012 the company has shown a marginal growth of ~% and ~% respectively in revenues mainly due to increased competition in the hybrid cotton market†¦ As on 31st December 2012, Mahyco has been valued at INR ~ crore on company comparables basis. The company has been valued at average revenue multiple of ~x of different publically listed seed companies in India†¦Maharashtra Hybrid Seeds Company Limited Financial Performance on the basis of Revenues and EBIT in INR Crore, FY’2008-FY’2012 700. 0 600. 0 500. 0 400. 0 300. 0 200. 0 100. 0 0. 0 FY'2008 FY'2009 Revenues FY'2010E FY'2011 FY'2012 EBIT 11  © This is a licensed product of Ken Research and should not be copied Company Comparables on the Basis of Revenue in INR Crore, FY’2008-LTM year ending 31st December 2012 Revenue (in INR Crore) FY’2008 FY’2009 FY’2010 FY’2011 FY’2 012 LTM JK Agri Genetics Ltd. * Advanta India Limited** Monsanto India Ltd. Kaveri Seeds Company LimitedNath Seeds India Limited Company Comparable Analysis on the Basis of Market Capitalization, Net Debt and Enterprise Value and Valuation Multiples in INR Crore and Multiples, LTM 31st December 2012 (INR Crore, unless Stated) Company Last Twelve Months (LTM) Year Ending December 2012 Market Cap Net Debt Enterprise Value (EV) EV/Revenue EV/EBITDA P/E JK Agri Genetics Ltd. Advanta India Limited Monsanto India Ltd. Nath Seeds India Limited Kaveri Seeds Company Limited Mean Median 12  © This is a licensed product of Ken Research and should not be copiedRelative Valuation Analysis on the Basis of Deal Value, Deal Stake and Multiples in INR Crore, Percentage and Multiples Date Target Company Deal Type 21-Feb-13 R J Biotech Limited IPO 24-Nov-12 Century Seeds Private Limited Inbound Acquisition 26-Jul-12 Advanta India Limited Inbound Acquisition 21-May-12 Bisco Bio Sciences Private Limit ed Inbound Acquisition 14-May-12 NaanDanJain Irrigation Limited Domestic Acquisition 24-Apr-12 Zero Waste Agro Organics Private Limited Domestic Acquisition 2-Apr-12 Super Agri Seeds Private Limited Private Equity Fund Raise 5-Mar-12 Gold'N ChicksLimited Inbound Acquisition 9-Dec-10 Metahellix Life Sciences Domestic Acquisition 7-Jan-08 Unicorn Seeds Limited Block Trade 22-Dec-07 Syngenta India Limited Inbound Acquisition 1-Jun-07 Golden Seeds Private Limited Deal Value INR (Cr) Stake % Implied EV/ Revenue Implied EV/ EBITDA Implied EV/ PAT Block Trade Mean Median 13  © This is a licensed product of Ken Research and should not be copied M ACRO ANALYSIS OF SEED INDUSTRY M ARKET SHARE OF MAJOR PLAYERS IN THE INDIAN HYBRID S EED INDUSTRY, FY’2012 The Indian hybrid seed industry is dominated by Nuziveedu Seeds Private Limited.The company has a market share of ~ % in the overall Indian hybrid seed industry followed by Mahyco and Monsanto India limited which have a share of ~% an d ~% respectively†¦ For Monsanto India, corn hybrid seed was the single biggest focus in seed business. Through its Project Golden Rays project the company has signed a public-private partnership with Rajasthan state government for increasing the maize hybrid yields by two folds†¦ Market Share of Major Players in Indian Hybrid Seed Market on the Basis of Contribution by Revenue in Percentage, FY’2012Nuziveedu Seeds Private limited Maharashtra Hybrid Corporation (Mahyco) Monsanto India Limited (MIL) Rasi Seeds Private Limited Bayer Crop Science limited – India Pioneer Seeds Syngenta India Ltd. Others 14  © This is a licensed product of Ken Research and should not be copied M AHARASHTRA HYBRID SEEDS COMPANY LIMITED M ANAGEMENT OUTLOOK AND FUTURE PROJECTIONS The company is planning to increase its focus on product portfolio of the company by increasing its expenditure on research and development.It is expected that the company will increase in research and dev elopment expenditure from INR 55. 0 crore to INR 100. 0 crore per year in the next four years. These expenditures will have a direct impact on the company’s revenues by bringing new and innovative products. Additionally, these research and development expenditures will also improve the quality of current product portfolio of the company which will lead to more cost efficient production process for the company. Due to this revenue of the company is expected to cross INR 2,000. crore till FY’2017 as improvement in products of the company through research and development will generate positive cash flows in the future and will lead to amplification of company’s revenues. It is expected that with the increase in revenues, operating margin of the company would also showcase an increasing trend. Additionally, Mahyco is planning to expand its operations in different nation specially neighbor countries of India by bringing new and innovative products so as to increase i ts penetration in the international seed market.M AHARASHTRA HYBRID SEEDS COMPANY LIMITED FUTURE P ROJECTION Maharashtra Hybrid Seeds Company Limited is expected to cover hybrid paddy seed market in different countries such as ~ and ~. In FY’2012 the company has already started its commercial production in these nations and expected to increase the commercial production of these products in future as well. This will increase the market penetration of the company in the international seed market and will amplify the company’s revenues.Additionally, the company is expected to diverse its focus towards the production of hybrid rice seeds in the Indian seed market. As of now hybrid rice is contributing only ~% of the company’s overall revenues†¦ 15  © This is a licensed product of Ken Research and should not be copied Maharashtra Hybrid Seeds Company Limited is planning to introduce genetically modified (GM) seeds in food items in ~ and ~. Introduction of the se GM seeds will increase the company’s revenues from the international seed market†¦ The company is expected to showcase a revenue growth at a CAGR of ~% from FY’2012FY’2017.Mahyco is focusing on the development of Bollgard-II roundup ready flex cotton (BGII RRF)†¦ EBIT margin of the company is expected to be little under pressure as the company is expected to spend substantial amount in research and developments. EBIT of the company is expected to grow at a CAGR of ~% from FY’2012-FY’2017†¦ Maharashtra Hybrid Seeds Company Limited Future Projections on the Basis of Revenues and EBIT in INR Crore and Percentage, FY’2013-FY’2017 2,500. 0 26. 0% 25. 0% 2,000. 0 1,500. 0 23. 0% 22. 0% 1,000. 0 in Percentage INR Crore 24. 0% 1. 0% 500. 0 20. 0% 0. 0 19. 0% FY'2013 FY'2014 Revenue FY'2015 FY'2016 FY'2017 EBIT Margin 16  © This is a licensed product of Ken Research and should not be copied D ISCLAIMER The research reports provided by Ken Research are for the personal information of the authorized recipient and is not for public distribution and should not be reproduced or redistributed without prior permission. You are permitted to print or download extracts from this material for your personal use only. None of this material may be used for any commercial or public use.The information provided in the research documents is from publicly available data and other sources, which are reliable. 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