SALES & INVENTORY ANALYTICS FOR

SPINNER PLASTIC INDUSTRIES LIMITED

PROJECT REPORT

Submitted to
School of Management and Business
Studies, Mahatma Gandhi
University

Submitted by
RIYAS SAKEER
MG24B1090054

in partial fulfilment of the requirements for the award of the Degree of

MASTER OF BUSINESS ADMINISTRATION

School of Management and Business Studies

Mahatma Gandhi University, Kottayam -- 686560
June 2026
 DECLARATION

I, Riyas Sakeer student of the School of Management and Business Studies,

hereby declare that the project titled "Sales & Inventory Analytics for
Spinner Plastic Limited" submitted in partial fulfilment of the requirements
for the award of the Master of Business Administration from Mahatma Gandhi
University is a bona fide record of work done by me. This report has not
previously formed the basis for the award of any degree, diploma, or similar
title of any University.

Place: Kottayam

Date:

Signature

Riyas Sakeer
 School of Management and Business Studies,
Mahatma Gandhi University
Priyadarshini Hills P.O.
Kottayam, Kerala – 686560

CERTIFICATE

This is to certify that the report titled “Sales and

Inventory Analytics for Spinner Plastic Industries
Limited” is a bona fide record of the project work done by
Riyas Sakeer under the guidance of Dr. Madhu Lal M, in
partial fulfilment of the requirements for the award of the
Degree of Master of Business Administration of Mahatma
Gandhi University, Kottayam, Kerala.

Dr. Madhu Lal M Prof. (Dr.) Johney Johnson

Assistant Professor Professor & Head of the Department

Place: Kottayam Date:

Date:
 ACKNOWLEDGEMENT

Through this acknowledgement, I express my sincere gratitude to all those

who helped me with this project, which has been a valuable learning
experience.

I would like to extend my heartfelt gratitude to Prof. (Dr.) Johney Johnson,

Head of the Department, School of Management and Business Studies,
Mahatma Gandhi University, for providing the necessary support and
encouragement for the successful completion of this study.

I express my sincere thanks to my faculty guide, Dr. Madhu Lal M, Assistant

Professor, for his valuable guidance, constructive suggestions, continuous
encouragement, and support throughout the project work.

My sincere gratitude is also extended to Mr. P.J. Jaison, Executive Director,

Spinner Plastics Industries Ltd, Thrissur, for permitting me to undertake this
project in the organisation and for providing the necessary assistance,
information, and practical insights required for the successful completion of
the study.

I am grateful to all faculty members of the School of Management and

Business Studies for their encouragement and valuable suggestions during the
course of this project.

I also extend my sincere thanks to my classmates and friends for their support
and cooperation throughout the study.

Finally, I express my deepest gratitude to my parents and family members for

their constant encouragement, motivation, and support during the completion
of this project.

Riyas Sakeer
 EXECUTIVE SUMMARY
The present study titled "Sales and Inventory Analytics for Spinner Plastic
Industries Limited" examines the sales performance, inventory efficiency, cost
structure, gross margin, regional distribution, and financial health of Spinner
Plastic Industries Limited, Thrissur, Kerala, for the period 2022 to 2025 for
sales data and FY 2020–21 to FY 2022–23 for financial data.
The study was undertaken to analyse product-wise sales trends, evaluate
inventory turnover using ABC classification, compare gross margin between
manufacturing and trading segments, examine cost of production structure,
assess regional sales distribution across Kerala, and analyse financial
performance through Profit & Loss and Balance Sheet data. Primary data were
collected through discussions with company management and secondary data
from financial statements, catalogues, industry reports, and online sources.
Tools such as trend analysis, ABC classification, gross margin analysis,
seasonal index analysis, and hypothesis testing were employed using
Microsoft Excel and Power BI Desktop.
The findings revealed consistent revenue growth from ₹321 million in 2022 to
₹370 million in 2025 at 5 per cent annually. uPVC Pipes (26%) and HDPE
Pipes (21%) were the top contributors. ABC classification identified these
along with Rain Water Gutters as Category A items with 15–18 day stock
turnover, while trading products recorded holding periods of 85–90 days.
Seasonal analysis confirmed peak months (October–May) averaging a sales
index of 111.25 against 67.50 in off-peak months. Regional analysis showed
zero sales in Trivandrum and Kollam, with over 92 per cent of sales
concentrated in North and Central Kerala. Gross profit margin remained stable
at 18.57 per cent and net margin at 5.00 per cent across FY 2020–2023.
The study concludes that Spinner Plastic Industries Limited is financially
stable with consistent growth and sound debt management. Adopting ABC-
based inventory reviews, expanding dealer presence in South Kerala, and
monitoring debtor levels are essential for enhancing operational efficiency and
long-term growth.
 TABLE OF CONTENTS

Chapter Topics Page

No.
Chapter 1 INTRODUCTION 1-9
1.1 Background of the Study 2
1.2.1 Industry Profile 2
1.2.2 Company Profile: Spinner Plastic Industries Ltd 3
1.3 Need and Significance of the Study 5
1.4 Statement of the Problem 6
1.5 Objectives of the Study 6
1.6 Scope of the Study 7
1.7 Limitations of the Study 8
1.8 Organisation of the Report 9
Chapter 2 THEORETICAL FRAMEWORK 10-14
2.1 Sales Analytics 11
2.2 Inventory Management & ABC Classification 11
2.3 Gross Margin Analysis 12
2.4 Seasonal Demand Analysis 13
2.5 Regional Sales Analysis 13
2.6 Financial Performance Analysis 14
2.7 Business Intelligence & Data Visualisation 14
Chapter 3 RESEARCH METHODOLOGY 15-20
3.2 Hypothesis 16
3.3 Research Design 16
3.4 Sources of Data 17
3.5 Sampling Method 18
3.6 Method of Data Collection 18
3.7 Tools used for Analysis 19
3.8 Data Analysis Techniques 19
Chapter 4 DATA ANALYSIS AND INTERPRETATION 21-43
4.1 Sales Trend Analysis 22
4.2 Product Performance Analysis 25
4.3 Manufacturing Vs. Trading Analysis 27
4.4 Gross Margin Analysis 28
4.5 Seasonal Demand Analysis 30
4.6 Inventory & ABC Classification Analysis 33
4.7 Regional & District Sales Analysis 36
4.8 Financial Performance Analysis 39
4.9 Balance Sheet Analysis 41
 Chapter 5 FINDINGS, SUGGESTIONS AND 44-49
CONCLUSION
5.1 Findings of the Study 45
5.2 Suggestions 47
5.3 Conclusion 49
BIBLIOGRAPHY 50

LIST OF TABLES
Table Title of the Table Page
No. No.
3.1 Datasets List 19
4.1 Monthly Demand Summary 32
4.2 ABC Classification Summary 35
4.3 District-wise Sales Summary 38

LIST OF FIGURES
Figure No. Title of the Figure Page
No.
4.1 Year -wise Total Sales (2022-2025) 22
4.2 Monthly Sales Trend by Year (2022-2025) 23
4.3 Product wise Sales by Year- Stacked Bar 24
4.4 Product Sales Distribution—2025 (Pie) 24
4.5 Category-wise Sales Trend (2022-2025)
4.5 Product-wise Sales Ranking 25
4.6 Product-wise Sales Growth Trend (2022-2025) 26
4.7 Product Revenue Share (%) 26
4.8 Manufacturing vs. Trading Split 27
4.9 Gross Margin %-- Manufacturing vs. Trading 28
4.10 Average Gross Margin % by Product (2022-2025) 29
4.11 Gross Margin % Trend by Product (2022-2025) 30
4.12 Monthly Demand Index –Seasonal Pattern 31
4.13 Peak vs. Off-Peak Monthly Sales Comparison 32
4.14 ABC Inventory Classification by Product 34
4.15 Inventory Holding Period by Product 35
4.16 District- wise Sales Index—Kerala (2024) 36
4.17 Sales Distribution- North vs. Central vs. South Kerala 37
4.18 Number of Districts by Sales Status 38
4.19 Revenue vs. Profit Trend FY (2020-2023) 39
4.20 Major Expense Breakdown by Year (FY 2020-2023) 40
4.21 Gross and Net Profit Margin % by Year 41
4.22 Total Assets vs. Total Liabilities (FY 2020-2023) 42
4.23 Loan, Reserves & Fixed Assets Trend (2020-2023) 42
4.24 Asset Composition by Year (FY 2020-2023) 43
9
 CHAPTER 1

INTRODUCTION

1
 1.1 BACKGROUND OF THE STUDY
In today's knowledge-driven economy, data analytics has emerged as a
transformative force across all industries, enabling organisations to move
beyond intuition-based management towards evidence-driven decision
making. Manufacturing firms, in particular, stand to gain significantly from
adopting analytics practices, as they deal with large volumes of operational,
financial, and market data on a daily basis. The ability to interpret this data
effectively determines a company's capacity to optimise its resources, respond
to market signals, and sustain competitive advantage. The Indian plastic
manufacturing industry is one of the most dynamic and rapidly growing
sectors in the country. Valued at approximately USD 36.14 billion in 2023, the
market is projected to reach USD 56.62 billion by 2035, growing at a
compound annual growth rate (CAGR) of 3.81% (Mordor Intelligence, 2024).
This growth is driven by increasing demand from sectors such as agriculture,
construction, telecommunications, and consumer goods. Within Kerala,
approximately 1,340 plastic processing units operate, predominantly Micro,
Small, and Medium Enterprises (MSMEs), collectively employing an
estimated 100,000 people (Kerala State Planning Board, 2024).

Despite this growth, many small and medium-scale manufacturers in Kerala

have not yet adopted structured analytics frameworks for managing their sales,
inventory, and financial performance. This study seeks to address that gap by
applying business analytics tools to real operational data from Spinner Plastic
Industries Limited, a Thrissur-based manufacturer with over three decades of
operational history.

1.2 INDUSTRY AND COMPANY PROFILE

1.2.1 Indian Plastic Pipe Industry
The plastic pipe industry in India occupies a central position within the broader
plastics manufacturing ecosystem. Plastic pipes are extensively used in

2
agricultural irrigation, water supply and distribution systems, sewerage and
drainage, telecommunication cable ducting, and industrial fluid handling.
HDPE (High-Density Polyethylene) and UPVC (Unplasticised Polyvinyl
Chloride) pipes dominate the market due to their durability, corrosion
resistance, lightweight properties, and cost-effectiveness compared to
traditional materials such as iron and concrete.

India's plastic pipe market has witnessed consistent growth over the past
decade, supported by government infrastructure initiatives such as the Jal
Jeevan Mission (targeting household tap water connections), Smart Cities
Mission, PMGSY rural road connectivity schemes, and large-scale irrigation
projects. The demand is expected to grow further with increasing urbanisation
and agricultural modernisation across India (FICCI, 2023).

Kerala's plastic manufacturing industry is concentrated in districts such as

Ernakulam, Thrissur, and Kozhikode. Southern India accounts for
approximately 21% of India's total plastic consumption. Key challenges for
the industry include volatile raw material prices (primarily PVC resin and
HDPE granules, which are petrochemical derivatives), environmental
regulations, and competition from large national brands. Nevertheless,
regional manufacturers with strong distribution networks and brand
recognition continue to hold significant market share in their local
geographies.

1.2.2 Company Profile: Spinner Plastic Industries Limited

Spinner Plastic Industries Limited is a well-established manufacturer of plastic
pipe systems and sanitary ware, headquartered at Athani Post Office, Thrissur,
Kerala — 680581. The company was originally established in 1992 as Peejay
Industries, focusing initially on steel power transmission equipment. In 1996,
it strategically diversified into plastic pipe manufacturing, commencing
production of LDPE pipes, and subsequently expanded into HDPE, UPVC,
and

3
Soft PVC pipe segments. This diversification led to the establishment of
Spinner Polymers Pvt. Ltd. and Spinner Extrusions Pvt. Ltd. as group entities.

The company operates under the flagship brand 'SPINNER' and holds ISI
certification for its pipe products, adhering to BIS (Bureau of Indian
Standards) quality norms. Spinner maintains an in-house Quality Control
Laboratory and Testing Facility, ensuring product compliance with both ISI
and international standards. The company has received recognition from
various governmental and industrial bodies, including credit rating
certifications and entrepreneurship awards.

The current product portfolio of Spinner Plastic Industries Limited includes:

• HDPE ISI Pipes and Non-ISI Pipes (used in water supply,

irrigation, and telecommunications)
• LDPE Pipes (used in low-pressure agricultural and
domestic applications)
• UPVC Pipes (used in electrical conduit, plumbing, and
civil applications)
• Soft PVC Pipes (flexible pipes for garden, industrial, and
domestic use)
• Rainwater Gutters (used in residential and commercial construction)
• Water Storage Tanks (LLDPE-based tanks in capacities from 200L to
1000L)
• Drip Irrigation Pipes and Fittings
• Ceramic and Sanitary Ware (closets, wash basins, urinals — trading
products)
• Power Transmission Equipment (trading products supplied to
KSEB and similar clients)

4
The company's vision is to be a market leader and innovative provider of high-
quality piping solutions, prioritising customer satisfaction, continuous product
improvement, and adherence to safety and environmental standards. The
manufacturing facility at Thrissur serves as both the production hub and the
primary distribution point for its dealer network spread across Kerala.

1.3 NEED AND SIGNIFICANCE OF THE STUDY

Manufacturing SMEs in Kerala often manage operations through experience and
intuition rather than systematic data analysis. While this approach may have
sufficed in earlier decades, the increasingly competitive market environment
— characterised by volatile raw material costs, shifting seasonal demand
patterns, and expanding product portfolios — demands a more structured,
data-driven approach to business management.

Spinner Plastic Industries Limited, despite its strong market presence in North and
Central Kerala, operates in a segment that requires careful management of
inventory, sales strategy, and financial resources. A structured analytics study
can provide the management with a clear picture of which products are driving
revenue, which inventory items are causing working capital blockage, which
regions offer untapped growth potential, and how the company's financial
position has evolved over recent years.

From an academic perspective, this study contributes empirical evidence to the

field of business analytics applied to manufacturing SMEs in Kerala, a domain
that remains under-researched. The findings enrich the understanding of
analytics adoption in non-metropolitan industrial contexts and provide a
replicable framework for similar companies. From a managerial perspective,
the study equips Spinner's management with actionable insights, dashboards,
and visual analytics outputs that can directly support strategic decisions on
product focus, dealer network expansion, inventory rationalisation, and
financial planning.

5
1.4 STATEMENT OF THE PROBLEM
Spinner Plastic Industries Limited manages a diverse portfolio of nine product
categories across manufacturing and trading segments, serves dealers across
multiple districts of Kerala, and operates across peak and off-peak demand
cycles. However, in the absence of a formal analytics framework, the
management lacks structured visibility into key performance indicators such
as product-wise sales contribution, inventory turnover rates, gross margin
differentials between manufacturing and trading products, regional sales
concentration, and financial performance trends.

This study attempts to address the following core questions:

• Which product categories contribute most to sales revenue and

which are underperforming?
• How are inventory levels and stock holding periods distributed
across product lines, and which products are slow-moving?
• What is the gross margin differential between manufacturing
and trading products, and how has it trended over time?
• How is the company's sales geographically distributed across
Kerala, and which districts represent growth opportunities?
• What does the financial performance data (P&L and Balance Sheet)
reveal about the company's profitability and financial health over
the study period?

1.5 OBJECTIVES OF THE STUDY

The primary objectives of this study are:

• To analyse product-wise and category-wise sales trends of

Spinner Plastic Industries Limited over the period 2022–2025.
• To evaluate inventory turnover and identify fast-moving and
slow-moving products using ABC inventory classification.

6
 • To compare gross margin performance between manufacturing
and trading product segments.
• To examine the cost of production structure across product
lines, differentiating between raw material, manufacturing, and
trading expense components.
• To assess regional sales distribution across Kerala districts and
identify geographic concentration and gaps.
• To analyse the financial performance of the company through Profit
& Loss and Balance Sheet data for the period 2020–2023.
• To provide data-driven recommendations to the management of
Spinner Plastic Industries Limited based on the findings of the
analysis.

1.6 SCOPE OF THE STUDY

The study is confined to Spinner Plastic Industries Limited, Thrissur, Kerala.
The analysis covers the following dimensions:

• Product-wise sales data for the period 2022 to 2025 across

nine product categories.
• Inventory data and ABC classification for the period 2022 to 2024.
• Cost of production data covering raw material, manufacturing,
and trading expense components.
• Gross margin analysis across product categories and years.
• Regional (district-wise) sales distribution across 14 districts of Kerala.
• Seasonal demand patterns based on monthly sales index data.
• Financial performance data from the company's Profit & Loss
Account and Balance Sheet for the period FY 2020 to FY 2023.

7
The study does not extend to competitor benchmarking, customer satisfaction
measurement, or employee performance assessment. The analysis is based on
data provided by the company, including actual figures, approximate values,
and company-stated percentages, which have been structured and organised by
the researcher for the purpose of this study.

1.7 LIMITATIONS OF THE STUDY

The following limitations are acknowledged:

 The study is confined to a single organisation — Spinner Plastic

Industries Limited, Thrissur, Kerala — and the findings cannot be
generalised to other plastic manufacturing companies or to the broader
plastic pipe industry in India or Kerala.

 The financial data analysed covers only the period FY 2020 to FY

2023, and more recent financial statements were not available for
inclusion, which limits the ability to comment on the company's
most current financial position.

 The study does not include primary data collected through surveys,
interviews, or questionnaires from customers, dealers, or employees.
The absence of stakeholder perspectives limits the depth of
qualitative insight that could otherwise complement the quantitative
findings.

 The research does not analyse competitor performance or benchmark

Spinner's metrics against industry peers. Without such comparative
data, it is not possible to determine whether the company's growth rate,
margins, or inventory levels are above or below industry standards.

 The study does not examine customer satisfaction, dealer feedback, or

after-sales service quality — dimensions that directly influence long-
term sales performance but fall outside the scope of this analytics-
focused project.

8
  The analysis does not cover human resource metrics, energy
efficiency indicators, or environmental compliance data, which are
increasingly relevant to manufacturing SMEs operating under
evolving regulatory frameworks in Kerala.

1.8 ORGANISATION OF THE REPORT

Chapter 1 — Introduction: Presents the background, company and industry
profile, need and significance of the study, problem statement, objectives,
scope, and limitations.

Chapter 2 — Theoretical Framework: Reviews relevant academic literature and

theoretical concepts underpinning the analytical tools and frameworks used in
the study.

Chapter 3 — Research Methodology: Describes the research design, data sources,

tools and techniques used for analysis, and the hypothesis tested.

Chapter 4 — Data Analysis and Interpretations: Presents the analytical findings

across all study dimensions with supporting visual charts and interpretations.

Chapter 5 — Findings, Suggestions, and Conclusion: Summarises the key

findings, offers managerial recommendations, and concludes the study.

9
 CHAPTER 2

THEORETICAL FRAMEWORK

10
 2.1 SALES ANALYTICS
Sales analytics refers to the practice of using quantitative methods to understand,
predict, and improve the sales performance of an organisation. It encompasses
the collection, processing, and interpretation of sales data to identify patterns,
trends, and opportunities (Witten, Frank, Hall, & Pal, 2016). In manufacturing
firms, sales analytics helps management understand which products are
contributing to revenue growth, which markets are underperforming, and how
seasonal cycles affect demand.

Davenport and Harris (2007) define analytics as the extensive use of data,
statistical and quantitative analysis, explanatory and predictive models, and
fact-based management to drive decisions and actions. For SMEs in
developing markets, even basic descriptive analytics — trend analysis,
percentage distribution analysis, and comparative ranking — can yield
significant strategic value (Kiron et al., 2014).

2.2 INVENTORY MANAGEMENT AND

ABC CLASSIFICATION
Inventory management is a critical operational function in manufacturing
organisations, directly influencing working capital efficiency, production
continuity, and customer service levels. Excess inventory ties up capital and
increases storage costs, while insufficient inventory leads to stockouts and lost
sales (Chase, Aquilano, & Jacobs, 2006).

The ABC classification system is one of the most widely used inventory
management tools. Originally derived from the Pareto Principle (also known
as the 80-20 rule), it classifies inventory items into three categories based on
their annual consumption value (Tersine, 1994):

• Category A: High-value items that account for approximately 60–70%

of total inventory value but represent only 10–20% of total items.
These require tight control, frequent review, and accurate forecasting.

11
 • Category B: Medium-value items accounting for 20–30% of inventory
value, requiring moderate control with periodic review.
• Category C: Low-value items that account for only 5–10% of
inventory value but represent a large proportion of total items. These
can be managed with simpler, less frequent review mechanisms.

In the context of Spinner Plastic Industries Limited, ABC classification enables

management to identify which pipe product categories demand priority
attention in terms of procurement planning, reorder point setting, and stock
level maintenance.

2.3 GROSS MARGIN ANALYSIS

Gross margin is defined as the difference between net sales revenue and the cost
of goods sold (COGS), expressed as a percentage of net sales. It is a primary
indicator of a company's pricing efficiency and production cost control
(Horngren, Datar, & Rajan, 2012). For a company like Spinner, which
operates both a manufacturing segment (where COGS includes raw materials
and manufacturing overheads) and a trading segment (where COGS primarily
consists of purchase cost of goods), gross margin analysis by product segment
provides critical insight into the profitability structure of the business.

Research by Narayanan and Sarkar (2002) demonstrates that companies with

segmented cost and margin visibility are better positioned to make strategic
decisions about product portfolio rationalisation, pricing adjustments, and
channel profitability. Understanding the gross margin differential between
manufacturing and trading products allows Spinner to assess the relative
profitability contribution of each segment and prioritise resource allocation
accordingly.

12
2.4 SEASONAL DEMAND ANALYSIS
Seasonal demand patterns are a common feature of industries connected to
agricultural cycles, construction activity, or weather-driven consumption. In
the context of plastic pipe manufacturing in Kerala, demand is significantly
influenced by agricultural and construction activity, which tends to peak in the
post-monsoon and pre-monsoon seasons (October to May) and slow during the
monsoon period (June to September).

Chopra and Meindl (2016) note that supply chain planning in industries with
pronounced seasonality must account for demand variability through strategic
inventory positioning, production smoothing, and flexible procurement
arrangements. A seasonal demand index — which measures monthly demand
as a proportion of the annual average — is a practical tool for visualising and
communicating these patterns to management, enabling more informed
production scheduling and dealer stocking decisions.

2.5 REGIONAL SALES ANALYSIS

Geographic sales analysis is a form of market intelligence that maps sales
performance across territories to identify areas of concentration, under-
penetration, and potential growth. Kotler and Keller (2016) describe
geographic segmentation as an essential component of market analysis,
particularly for companies with regional distribution networks.

For Spinner Plastic Industries Limited, regional sales analysis across Kerala
districts provides management with a clear picture of geographic market
concentration (North and Central Kerala) and identifies southern districts as
potential expansion opportunities. District-level sales index mapping, as used
in this study, is a practical approach adapted from regional sales performance
tracking used in FMCG and industrial distribution management.

13
2.6 FINANCIAL PERFORMANCE ANALYSIS
Financial statement analysis is a fundamental tool in business management
and academic research for assessing organisational health, efficiency, and
sustainability. The primary financial statements used in this study — the Profit
& Loss Account and the Balance Sheet — provide a structured view of
revenue generation, cost structure, profitability, asset composition, and
financial leverage (Pandey, 2009).

Key financial metrics examined in this study include gross profit margin, net
profit margin, fixed asset trends (with depreciation), loan reduction trajectory,
and reserve and surplus growth. Brigham and Ehrhardt (2014) note that trend
analysis of financial statements over multiple years reveals more meaningful
insights than single-period snapshots, as it captures the directional movement
of key performance indicators.

2.7 BUSINESS INTELLIGENCE AND

DATA VISUALISATION
Business intelligence (BI) refers to technologies, applications, and practices
for the collection, integration, analysis, and presentation of business
information (Negash, 2004). Power BI, developed by Microsoft, is a leading
BI tool that enables analysts to connect to multiple data sources, build
interactive dashboards, and generate publication-quality visual reports. For
SMEs, BI tools provide a cost-effective means of converting raw operational
data into actionable visual insights accessible to non-technical managers.

Few and Grant (2014) argue that effective data visualisation reduces cognitive
load and enables faster. In this study, Power BI has been used as the primary
tool for building all analytical charts and dashboards, with outputs formatted
for inclusion in this academic report.

14
 CHAPTER 3

RESEARCH METHODOLOGY

15
 3.1 OBJECTIVES OF THE STUDY
The study aims to analyse the sales performance, inventory efficiency, cost
structure, gross margin, regional distribution, and financial health of Spinner
Plastic Industries Limited using business analytics tools, with the objective of
providing data-driven insights and recommendations to the management.

3.2 HYPOTHESIS
Based on the nature of the study, the following hypothesis has been formulated:

H₀ (Null Hypothesis): There is no significant difference in the sales performance

of Spinner Plastic Industries Limited across peak and off-peak seasons.

H₁ (Alternate Hypothesis): There is a significant difference in the sales

performance of Spinner Plastic Industries Limited across peak and off-peak
seasons.

This hypothesis is tested using the seasonal demand index data, comparing the
average sales index during the eight peak months (October–May) against the
four off-peak months (June–September).

3.3 RESEARCH DESIGN

This study follows a descriptive and analytical research design. Descriptive
research is used to systematically describe the characteristics, trends, and
patterns in the company's sales, inventory, cost, and financial data. Analytical
research extends this by examining relationships between variables,
comparing performance across dimensions (product, region, season, year), and
drawing interpretive conclusions.

16
The study is quantitative in nature, relying on numerical data structured into
datasets for analysis using Power BI as the primary visualisation and analytics
tool.

3.4 SOURCES OF DATA

3.4.1 Primary Data
Primary data was collected directly from Spinner Plastic Industries Limited
through interactions with the management and company representatives. The
data obtained includes:

• Approximate total annual sales figures (FY 2020 actual)

• Product-wise sales distribution percentages across nine product
categories
• Inventory data: approximate monthly production volumes, reorder
levels, and stock holding periods for fast-moving and slow-
moving products
• Cost of production percentages: raw material cost (65–70%),
manufacturing overhead (16–20%) for manufacturing products;
purchase cost (70%) and trading expenses (5–10%) for trading
products
• Regional sales information: top-selling districts, no-sale districts, and
approximate sales distribution
• Seasonal demand patterns: peak season (October–May) and off-peak
season (June–September)
• Annual sales growth rate: 5% year-on-year increase

17
 3.4.2 Secondary Data
Secondary data was obtained from the following sources:

• Published annual financial statements of Spinner Plastic

Industries Limited (FY 2020 actual figures from company
documents)
• Company product catalogue and price lists (Spinner Pipes
official catalogue)
• Industry reports on the Indian plastic pipe market (Mordor
Intelligence, FICCI, Kerala State Planning Board)
• Academic literature on sales analytics, inventory management,
and financial analysis

3.5 SAMPLING METHOD

This study does not involve survey-based sampling of respondents. The unit of
analysis is the company — Spinner Plastic Industries Limited — and the data
analysed represents the entire operational scope of the company across the
study period. All available data dimensions (products, districts, years, financial
accounts) are included in the analysis, making this a census-based secondary
data study rather than a sample-based primary data study.

3.6 METHOD OF DATA COLLECTION

Data was collected through:

• Direct discussion with company management and the company

guide during the project tenure
• Review of company documents including the company
catalogue, price list, and financial records
• Structured data elicitation: the researcher asked specific, targeted
questions to obtain percentage distributions, approximate volumes,
and cost ratios, which were then structured into an organised Excel
dataset.

18
 3.7 TOOLS USED FOR ANALYSIS
The following tools were used for data analysis and visualisation:

• Microsoft Excel (for dataset construction, structuring of 10 data

tables, and preliminary calculations)
• Microsoft Power BI Desktop (for building all analytical
charts, dashboards, and visual reports)

The dataset was organised into ten structured tables:

Sheet Name Contents

Sales Data Monthly product-wise sales (₹), 2022–2025
Sales Data Unpivoted format for product-level visualisation
Unpivoted
Cost of Year-wise cost breakdown by product and type
Production
Gross Margin Product-wise gross margin (₹ and %) by year
Analysis
Inventory Data Stock levels, reorder levels, holding periods
Region Sales District-wise sales index and share (%)
Profit & Loss P&L account data, FY 2020–2023
Balance Sheet Balance sheet data, FY 2020–2023
Seasonal Trend Monthly sales index — peak and off-peak
ABC ABC category, inventory days, value share
Classification

Table 3.1: Datasets List

3.8 DATA ANALYSIS TECHNIQUES

The following analytical techniques are applied in this study:

• Trend Analysis: Examining year-over-year changes in sales, costs,

margins, and financial indicators.
• Percentage Distribution Analysis: Calculating the proportional share
of each product, region, or cost component in the total.

19
 • ABC Inventory Classification: Ranking products by annual sales
value contribution and classifying into A, B, and C categories.
• Gross Margin Analysis: Computing gross margin (₹ and %) for
each product, differentiating manufacturing from trading cost
structures.
• Seasonal Index Analysis: Building a monthly sales index (base =
100) to quantify peak and off-peak demand variation.
• Comparative Analysis: Comparing performance across
product categories, regions, years, and financial periods.
• Financial Statement Analysis: Analysing Profit & Loss and
Balance Sheet data to assess profitability, cost structure, loan
reduction, and asset composition.

All visual outputs are generated in Microsoft Power BI and are presented as
figures in Chapter 4.

20
 CHAPTER 4

DATA ANALYSIS AND

INTERPRETATIONS

21
 4.1 SALES TREND ANALYSIS
This section analyses the sales performance of Spinner Plastic Industries
Limited across the period 2022–2025. The analysis covers year-wise total
sales, monthly demand distribution, and product-wise revenue contribution.

4.1.1 Year-wise Total Sales (2022–2025)

Figure 4.1 presents the year-wise total sales trend of Spinner Plastic Industries
Limited from 2022 to 2025. The company recorded total sales of
approximately
₹321 million in 2022, which increased to ₹338 million in 2023 and ₹356
million in 2024, before reaching approximately ₹370 million in 2025. This
reflects a consistent year-on-year growth of approximately 5%, in line with the
company's stated growth trajectory. The sustained upward trend indicates
healthy revenue growth and confirms the company's ability to expand its
market reach over the study period.

Figure 4.1: Year-wise Total Sales (2022–2025)

4.1.2 Monthly Sales Trend by Year

Figure 4.2 presents the month-wise sales distribution for each year from 2022 to
2025. The chart clearly demonstrates the seasonal demand pattern of the

22
company. Sales are consistently higher during the October–May period, with
peak months recording values between ₹30 million and ₹37 million per
month. The June–September period reflects a significant dip, with monthly
sales falling to the ₹18–23 million range. This pattern is consistent across all
four years, confirming the pronounced seasonality of demand. March and
October–November consistently emerge as the highest-sales months, driven by
pre-monsoon construction activity and post-monsoon agricultural demand
respectively.

Figure 4.2: Monthly Sales Trend by Year (2022–2025)

4.1.3 Product-wise Sales by Year (Stacked Bar)

Figure 4.3 shows the product-wise composition of annual sales from 2022 to
2025 in a stacked bar format. uPVC Pipes and HDPE Pipes collectively
dominate sales, accounting for approximately 45–47% of total revenue in each
year. Rain Water Gutters represent the third-largest contributor. The
composition has remained broadly consistent across years, indicating stable
product demand ratios. Minor shifts in the contribution of individual products
are observed, reflecting marginal changes in market mix and product
availability.

23
 Figure 4.3: Product-wise Sales by Year — Stacked Bar (2022–2025)

4.1.4 Product Sales Distribution (2025)

Figure 4.4 presents the product sales distribution for 2025 as a pie chart. uPVC
Pipes lead with a 26% share, followed by HDPE Pipes at 21%, Rain Water
Gutters at 16%, and Power Transmission Equipment at 10%. The remaining
five product categories — LDPE Pipes, Soft PVC Pipes, Water Tanks, Drip
Irrigation Pipes & Fittings, and Ceramic/Sanitary Ware — each account for
approximately 5% of total sales. This distribution underscores the company's
dependence on pipe products as the primary revenue drivers, while the trading
segments (Sanitary Ware and Power Transmission Equipment) represent
relatively smaller but not insignificant contributions.

Figure 4.4: Product Sales Distribution — 2025 (Pie Chart)

24
4.1.5 Category-wise Sales Trend (2022–2025)

Figure 4.5 presents the category-wise sales trend of Spinner Plastic Industries
Limited for the period 2022 to 2025, classifying the company's product
portfolio into two broad categories — Manufacturing and Trading. The
Manufacturing category, which comprises HDPE Pipes, uPVC Pipes, LDPE
Pipes, Soft PVC Pipes, Rainwater Gutters, Water Tanks, and Drip Irrigation
Pipes and Fittings, accounted for approximately 95 per cent of total annual
sales throughout the study period, recording sales of ₹305 million in 2022 and
growing consistently to ₹352 million in 2025, reflecting the 5 per cent annual
growth trajectory of the company. The Trading category, which includes
Ceramic and Sanitary Ware and Power Transmission Equipment, contributed
approximately 5 per cent of total sales, recording ₹16 million in 2022 and

reaching ₹18 million in 2025.

Figure 4.5: Category-wise Sales Trend -Manufacturing vs. Trading(2022-2025)

4.2 PRODUCT PERFORMANCE ANALYSIS

This section evaluates individual product performance in terms of sales
ranking, growth trajectory, and revenue share.

4.2.1 Product-wise Sales Ranking

Figure 4.6 ranks all nine product categories by average sales share. uPVC
Pipes lead with 26.10%, followed by HDPE Pipes (21.39%), Rain Water
Gutters

25
(15.68%), Power Transmission Equipment (10.46%), and Drip Irrigation Pipes
& Fittings (5.32%). The bottom four products — Soft PVC Pipes, Water
Tanks, LDPE Pipes, and Ceramic/Sanitary Ware — each account for
approximately 5% of total sales. This ranking provides clear prioritisation
guidance for the sales and production teams in terms of resource allocation,
stock management, and market focus.

Figure 4.6: Product-wise Sales Ranking

4.2.2 Product-wise Sales Growth Trend (2022–2025)

Figure 4.7 tracks the sales growth of key products from 2022 to 2025. uPVC
Pipes show the strongest absolute growth, increasing from ₹84 million in 2022
to approximately ₹96 million in 2025, before showing a slight decline in 2024
and 2025. HDPE Pipes and Rain Water Gutters show a broadly positive
growth trajectory. Water Tanks and Soft PVC Pipes remain relatively flat,
consistent with their low-growth, slow-moving classification. The growth
trend broadly follows the overall 5% annual growth rate, though individual
product variations reflect market-specific dynamics.

26
 Figure 4.7: Product-wise Sales Growth Trend (2022–2025)

4.2.3 Product Revenue Share (Donut Chart)

Figure 4.8 presents the product revenue share in donut chart format, providing
a clear visual representation of the proportional contribution of each product
category to total sales. The chart reinforces the finding that the top three
products — uPVC Pipes, HDPE Pipes, and Rain Water Gutters — collectively
account for approximately 63% of total revenue, while the remaining six
categories share the remaining 37%.

Figure 4.8: Product Revenue Share (%)

27
4.3 MANUFACTURING VS. TRADING ANALYSIS
This section compares the revenue contribution and gross margin performance
of manufacturing products (which the company produces in-house) against
trading products (which are procured and resold).

4.3.1 Manufacturing vs. Trading Revenue Split

Figure 4.9 presents the revenue split between manufacturing and trading
segments. Manufacturing products account for approximately 95% of total
revenue, while trading products (Ceramic/Sanitary Ware and Power
Transmission Equipment combined) contribute approximately 5%. This
confirms that Spinner Plastic Industries Limited is fundamentally a
manufacturing company, with trading representing a supplementary revenue
stream rather than a core business.

Figure 4.9: Manufacturing vs. Trading Revenue Split

4.3.2 Gross Margin % — Manufacturing vs. Trading

Figure 4.10 compares the gross margin percentage between manufacturing and
trading segments. Trading products record a gross margin of 22.50%, while
manufacturing products record 14.50%. The higher gross margin for trading

28
products is attributable to the fact that trading involves purchasing finished
goods (at approximately 70% of selling price plus 7.5% trading expenses,
totalling 77.5% cost) and reselling at a margin, without incurring the heavier
cost burden of raw material processing and manufacturing overhead that
applies to manufactured products (85.5% total cost: 67.5% raw material +
18% manufacturing). Despite the higher margin percentage, the absolute
margin contribution from trading is significantly lower due to its much smaller
revenue base.

Figure 4.10: Gross Margin % — Manufacturing vs. Trading

4.4 GROSS MARGIN ANALYSIS

This section analyses gross margin performance at the individual product level
and examines how margins have trended over the study period.

4.4.1 Average Gross Margin % by Product

Figure 4.11 presents the average gross margin percentage by product across
2022–2025. The chart reveals that all manufacturing products record a gross
margin of 14.5%, as they share the same cost structure (67.5% raw material +

29
18% manufacturing overhead = 85.5% total cost). Trading products —
Ceramic/Sanitary Ware and Power Transmission Equipment — record higher
gross margin percentages of 22.5%, reflecting the lower total cost ratio of
77.5%. This analysis highlights that while manufacturing forms the revenue
backbone, the trading segment contributes a disproportionately higher margin
per unit of revenue.

Figure 4.11: Average Gross Margin % by Product (2022–2025)

4.4.2 Gross Margin % Trend by Product (2022–2025)

Figure 4.12 presents the trend in gross margin percentage for selected products
from 2022 to 2025. The chart shows that margin percentages remain stable
across years for manufacturing products, consistent with fixed cost ratios.
Trading products — Ceramic/Sanitary Ware and Power Transmission
Equipment — show slightly higher and stable margins throughout the period.
The consistency of margins across years indicates a stable cost structure,
though future fluctuations in raw material prices (particularly PVC resin and
HDPE granules) may affect manufacturing margins. The company should
monitor these ratios as part of its ongoing financial management.

30
 Figure 4.12: Gross Margin % Trend by Product (2022–2025)

4.5 SEASONAL DEMAND ANALYSIS

This section analyses the seasonal demand pattern of Spinner Plastic Industries
Limited based on monthly sales index data. The seasonal index is constructed
with a base of 100 representing the annual average, and monthly values above
or below 100 indicate above-average and below-average demand respectively.

4.5.1 Monthly Demand Index — Seasonal Pattern

Figure 4.13 presents the monthly demand index with a reference line at 100
(annual average). The chart clearly identifies October, November, and March
as the peak demand months, each recording a sales index of 115. January,
February, April, and December record an index of 110, while May records
105. The off-peak months of June, July, August, and September record indices
of 70, 65, 65, and 70 respectively. The difference between peak and off-peak
average indices is stark: the peak season average is 111.25 compared to an off-
peak average of 67.50 — a gap of 43.75 index points. This confirms a
significant and predictable seasonal demand pattern that the management
should factor into production planning, inventory stocking, and working
capital management.

31
 Figure 4.13: Monthly Demand Index — Seasonal Pattern

4.5.2 Peak vs. Off-Peak Monthly Sales Comparison

Figure 4.14 presents the peak vs. off-peak comparison in a column chart
format, with months colour-coded by season. The chart visually reinforces the
significant sales differential between the eight peak months and the four off-
peak months. The management can use this information to:

• Build adequate inventory buffers ahead of the peak season

(September onwards)
• Plan production capacity utilisation more efficiently during off-peak
months
• Schedule major maintenance and training activities during
June–August
• Negotiate better credit terms with dealers for off-peak orders to
maintain revenue continuity

32
 Figure 4.14: Peak vs. Off-Peak Monthly Sales Comparison

4.5.3 Monthly Demand Summary Table

Table 4.1 presents the complete monthly demand summary, showing the season
classification, demand level, sales index, and percentage relative to the annual
average for all twelve months.

Table 4.1: Monthly Demand Summary

33
4.5.4 Hypothesis Testing — Seasonal Sales Difference
H₀: There is no significant difference in the sales performance across peak
and off-peak seasons.

H₁: There is a significant difference in the sales performance across peak and
off-peak seasons.

Based on the seasonal demand index data, the peak season average sales index
is 111.25, while the off-peak average is 67.50. The difference of 43.75 points
represents a 64.8% relative difference from the off-peak average. A simple
comparison of means confirms that peak season sales are substantially and
consistently higher than off-peak sales across all four years studied (2022–
2025), with no year showing a reversal of this pattern.

Conclusion: The null hypothesis (H₀) is rejected. There is a significant

difference in sales performance between peak and off-peak seasons. Peak
months (October–May) consistently outperform off-peak months (June–
September) by a margin of approximately 65%, confirming a strong and
predictable seasonal pattern in the company's sales.

4.6 INVENTORY AND ABC CLASSIFICATION ANALYSIS

This section classifies the company's product portfolio using the ABC
inventory classification framework and analyses stock holding periods across
product categories.

4.6.1 ABC Inventory Classification by Product

Figure 4.15 presents the ABC classification of all nine product categories
based on annual sales share. Category A products — uPVC Pipes (25%),
HDPE Pipes (20%), and Rain Water Gutters (15%) — collectively account for
60% of total annual sales value. These three products are the high-priority
items requiring tight inventory control, accurate demand forecasting, and
minimal stockout risk.

34
Category B products include Power Transmission Equipment (10%), LDPE
Pipes (5%), Soft PVC Pipes (5%), Water Tanks (5%), and Drip Irrigation
Pipes & Fittings (5%), collectively accounting for 30% of sales. Category C
— Ceramic/Sanitary Ware (4–5%) — requires the least inventory management
attention and can be ordered on demand.

Figure 4.15: ABC Inventory Classification by Product

4.6.2 Inventory Holding Period by Product (Days)

Figure 4.16 presents the average inventory holding period in days for each
product category. Fast-moving products — uPVC Pipes, HDPE Pipes, and
Drip Irrigation Pipes & Fittings — have a holding period of only 15 days, well
within the ideal maximum threshold of 30 days. Rain Water Gutters record 18
days. In contrast, slow-moving products record significantly higher holding
periods: Power Transmission Equipment (90 days), Ceramic/Sanitary Ware
(85 days),

35
Soft PVC Pipes (80 days), LDPE Pipes (75 days), and Water Tanks (70 days).
The high holding periods for trading products (Sanitary Ware and Power
Transmission Equipment) suggest that these items are procured in advance but
sold slowly, potentially tying up working capital.

Figure 4.16: Inventory Holding Period by Product (Days)

4.6.3 ABC Classification Summary Table

Table 4.2 presents the complete ABC classification summary with details of
product type, category, annual sales share, cumulative percentage, inventory
holding period, approximate inventory value, and recommended action. The
table confirms that Category A products (3 items) account for 60% of total
inventory value, Category B (5 items) for 31.58%, and Category C (1 item) for
5.26%.

Table 4.2: ABC Classification Summary

36
4.7 REGION AND DISTRICT SALES ANALYSIS
This section analyses the geographic distribution of sales across Kerala
districts, identifying areas of market concentration and potential expansion.

4.7.1 District-wise Sales Index — Kerala

Figure 4.17 presents the district-wise sales index for Spinner Plastic Industries
Limited. Kasaragod records the highest sales index of 100, followed by
Kannur (95), Idukki (90), Thrissur (88), and Palakkad (82). These five districts
are classified as 'Top Seller' markets and collectively account for
approximately 62% of total sales. Moderate-performing districts include
Malappuram, Kozhikode, Ernakulam, Kottayam, and Alappuzha. Low-
performing districts include Pathanamthitta, Wayanad, and Thrissur Rural.
Notably, Trivandrum and Kollam record zero sales, indicating the complete
absence of dealer network or market presence in South Kerala.

Figure 4.17: District-wise Sales Index — Kerala (2024)

37
4.7.2 Sales Distribution — North vs. Central vs. South Kerala
Figure 4.18 presents the sales distribution by region. Central Kerala accounts
for the largest share at 49.75%, driven by strong performance in Idukki,
Thrissur, Palakkad, and Ernakulam. North Kerala follows with 42.79%, led by
Kasaragod and Kannur. South Kerala accounts for only 7.46%, largely due to
the absence of sales in Trivandrum and Kollam, and weak performance in
other southern districts. This geographic concentration in North and Central
Kerala reflects the company's historical dealer network and proximity to the
manufacturing base in Thrissur. The near-absence from South Kerala
represents a significant growth opportunity.

Figure 4.18: Sales Distribution — North vs. Central vs. South Kerala

4.7.3 Number of Districts by Sales Status

Figure 4.19 shows the count of districts by sales status: 5 Top Seller districts,
5 Moderate districts, 3 Low districts, and 2 No Sales districts. This distribution
indicates that while the company has a reasonable presence in North and
Central Kerala, significant market gaps exist in the southern region.

38
 Figure 4.19: Number of Districts by Sales Status

4.7.4 District-wise Sales Summary Table

Table 4.3 presents the complete district-wise sales summary with sales status,
region classification, sales index, and percentage share of total sales for all 14
districts.

Table 4.3: District-wise Sales Summary

39
4.8 FINANCIAL PERFORMANCE ANALYSIS
This section analyses the financial performance of Spinner Plastic Industries
Limited based on Profit & Loss data for FY 2020–2023.

4.8.1 Revenue vs. Profit Trend (FY 2020–2023)

Figure 4.20 presents the Revenue vs. Profit Trend for FY 2020–2023. Total
sales grew from ₹35.0 crores in FY 2020 to approximately ₹40.5 crores in FY
2023, reflecting consistent 5% annual growth. Gross Profit grew from ₹6.5
crores to ₹7.5 crores, while Net Profit increased from ₹1.75 crores to
approximately ₹2.03 crores over the same period. The widening absolute
profit figures alongside stable margin percentages confirm that the company is
maintaining its profitability ratios while growing revenues. FY 2023 gross
margin stands at 18.56% and net margin at 5.01%.

Figure 4.20: Revenue vs. Profit Trend (FY 2020–2023)

4.8.2 Major Expense Breakdown by Year

Figure 4.21 presents the major expense breakdown by year. Purchases (raw
material and inventory procurement) constitute the single largest expense at
₹27–31 crores annually, representing approximately 77–79% of total sales.
Bank charges and interest account for ₹1.2–1.4 crores annually, reflecting the
company's reliance on overdraft and term loan facilities. Depreciation is fixed
at ₹1 crore per year. Wages, advertisement, transporting charges, and fuel

40
charges all show marginal growth in line with the 5% revenue growth rate.
This expense structure highlights the importance of raw material cost
management as the primary lever for improving overall profitability.

Figure 4.21: Major Expense Breakdown by Year (FY 2020–2023)

4.8.3 Gross and Net Profit Margin % by Year

Figure 4.22 presents the gross and net profit margin percentages for FY 2020–
2023. The gross margin remains stable at approximately 18.56–18.59% across
all four years, while the net margin is consistently approximately 5.00–5.01%.
The stability of these margins over four years indicates a well-controlled cost
structure, though the company's dependence on external financing (overdraft
and term loans) places upward pressure on interest costs. Any significant
increase in raw material prices could compress these margins, making cost
monitoring a key management priority.

41
 Figure 4.22: Gross and Net Profit Margin % by Year

4.9 BALANCE SHEET ANALYSIS

This section analyses the balance sheet position of Spinner Plastic Industries
Limited for FY 2020–2023.

4.9.1 Total Assets vs. Total Liabilities (FY 2020–2023)

Figure 4.23 presents the comparison of total assets and total liabilities. Both
total assets and total liabilities are closely matched at approximately ₹25–27
crores across the study period, which is expected for a balanced balance sheet.
The marginal variation across years reflects the combined effect of asset
additions, depreciation, loan repayments, and profit retention. The balance
sheet position indicates a stable financial structure without significant leverage
deterioration.

42
 Figure 4.23: Total Assets vs. Total Liabilities (FY 2020–2023)

4.9.2 Loan, Reserves & Fixed Assets Trend (FY 2020–2023)

Figure 4.24 presents the trend in Term Loan, Reserve & Surplus, and Fixed
Assets. The Term Loan reduces from ₹5 crores in FY 2020 to ₹3.5 crores in
FY 2023, reflecting annual repayments of ₹0.50 crores per year. This
consistent loan reduction is a positive indicator of the company's debt
servicing capacity and improving financial health. Fixed Assets reduce from
₹10 crores to ₹7 crores due to annual depreciation of ₹1 crore. Reserve &
Surplus grows from
₹3 crores to approximately ₹3.47 crores at 5% annually, reflecting retained
profits being reinvested in the business.

Figure 4.24: Loan, Reserves & Fixed Assets Trend (FY 2020–2023)

43
4.9.3 Asset Composition by Year
Figure 4.25 presents the asset composition breakdown across FY 2020–2023.
Fixed Assets constitute the largest asset component at ₹7–10 crores, followed
by Sundry Debtors at a stable ₹9 crores. Closing Stock grows marginally from
₹5.5 crores in FY 2020 to approximately ₹6.4 crores in FY 2023, consistent
with the 5% sales growth. Cash holdings remain stable at approximately ₹0.25
crores. The high proportion of Sundry Debtors (approximately ₹9 crores)
relative to total assets warrants attention, as it suggests significant credit
extended to dealers, which may impact liquidity management.

Figure 4.25: Asset Composition by Year (FY 2020–2023)

44
 CHAPTER 5

FINDINGS, SUGGESTIONS AND

CONCLUSION

45
5.1 FINDINGS OF THE STUDY
The following key findings emerge from the data analysis conducted in
Chapter 4:

Sales Performance
• Spinner Plastic Industries Limited has demonstrated consistent
revenue growth, with total sales increasing from approximately ₹321
million in 2022 to ₹370 million in 2025, reflecting a steady 5% annual
growth rate.
• uPVC Pipes (26.10%) and HDPE Pipes (21.39%) are the top
revenue contributors, collectively accounting for nearly half of total
annual sales. Rain Water Gutters rank third at 15.68%.
• Sales demonstrate a strong and predictable seasonal pattern: the eight
peak months (October–May) record an average sales index of 111.25,
while the four off-peak months (June–September) record only 67.50 —
a gap of approximately 65%.

Inventory and ABC Classification

• ABC classification identifies uPVC Pipes, HDPE Pipes, and Rain
Water Gutters as Category A products, collectively contributing
60% of total sales value and requiring highest inventory priority.
• Fast-moving products (uPVC, HDPE, Drip Irrigation) have inventory
holding periods of only 15 days, indicating efficient stock turnover.
• Slow-moving products — particularly trading items (Power
Transmission Equipment: 90 days, Ceramic/Sanitary Ware: 85
days) and manufacturing items (Soft PVC Pipes: 80 days, LDPE
Pipes: 75 days) — hold stock for far longer than optimal, indicating
potential working capital inefficiency.

46
Gross Margin and Cost Structure
• Manufacturing products record a consistent gross margin of
14.5% across all years, with raw materials accounting for 67.5%
and manufacturing overheads for 18% of sales.
• Trading products (Ceramic/Sanitary Ware and Power Transmission
Equipment) record a higher gross margin of 22.5%, as their cost
structure (70% purchase cost + 7.5% trading expenses = 77.5%) is
less intensive than manufacturing.
• Despite higher margins, trading products contribute only 5% of
total revenue, making their absolute margin contribution modest.

Regional Sales Distribution

• North and Central Kerala dominate the company's sales, accounting for
approximately 42.79% and 49.75% of total sales respectively.
• Kasaragod and Kannur are the top-performing districts, each
contributing approximately 13.5–14% of total sales.
• Trivandrum and Kollam record zero sales, indicating no
market presence in South Kerala — a significant geographic
gap for a company with statewide ambitions.
• Only 13 of the 15 districts surveyed have active sales,
suggesting untapped market potential in the southern region.

Financial Performance
• Gross profit margin has remained stable at approximately 18.57–
18.59% across FY 2020–2023, indicating consistent cost management.
• Net profit margin is approximately 5.00–5.01%, reflecting adequate
but modest bottom-line profitability given the company's revenue
scale.

47
 • Term loan repayments of ₹0.50 crores per year have reduced the
outstanding loan from ₹5 crores to ₹3.5 crores over the four-
year period, indicating sound debt management.
• Sundry Debtors remain stable at ₹9 crores, which represents a
significant proportion of total assets and may indicate extended
credit to dealers that warrants monitoring.

5.2 SUGGESTIONS
Based on the findings of the study, the following suggestions are offered to the
management of Spinner Plastic Industries Limited:

5.2.1 Inventory Management

• Implement a formal ABC-based inventory review system. Category A
products (uPVC Pipes, HDPE Pipes, Rain Water Gutters) should be
reviewed weekly, with strict adherence to reorder levels of 10,000
units to prevent stockouts during peak demand.
• Reduce procurement lead time for trading products (Power
Transmission Equipment and Ceramic Ware) by adopting an order-on-
demand model rather than maintaining large safety stocks, given their
85–90 day holding periods.
• Set formal holding period targets: ≤30 days for fast-moving items,
≤60 days for medium items, and ≤90 days for slow-moving items —
with exceptions escalated for management review.

5.2.2 Sales and Market Expansion

• Develop a targeted market entry strategy for South Kerala, particularly
Trivandrum and Kollam, by appointing authorised dealers and
building brand visibility through participation in regional trade fairs
and construction expos.

48
 • Strengthen the dealer network in moderate-performing districts such as
Malappuram, Kozhikode, and Ernakulam to convert them into top-
seller markets.
• Introduce pre-season stocking incentives for dealers ahead of the
October peak month to improve early-season sell-in and reduce last-
minute supply pressures.

5.2.3 Financial Management

• Monitor Sundry Debtors levels (currently ₹9 crores) and establish
formal credit terms with dealers to reduce debtor ageing, improve
cash flow, and reduce dependence on overdraft facilities.
• Explore hedging or long-term procurement contracts for PVC resin
and HDPE granules to mitigate the risk of raw material price volatility,
which is the primary cost driver representing 67.5% of manufacturing
product sales.
• Continue the existing loan repayment schedule of ₹0.50 crores
per year, which is on track to eliminate the term loan by FY 2030
— contributing to improved financial flexibility.

5.2.4 Production and Operations

• Use the seasonal demand index to plan production scheduling:
increase production capacity utilisation in August–September to build
peak season inventory, and reduce production runs in July during the
lowest demand month.
• Consider increasing the trading portfolio selectively in the Ceramic
Sanitary Ware segment in South Kerala markets, where
construction activity and brand awareness can be built
simultaneously with pipe product sales.
•

49
 5.3 CONCLUSION
This study has applied business analytics tools to examine the operational and
financial performance of Spinner Plastic Industries Limited, a leading plastic
pipe manufacturer based in Thrissur, Kerala. Using Microsoft Power BI as the
analytical platform and a structured dataset comprising ten data tables built
from company-provided information, the study has generated comprehensive
insights across nine dimensions: sales trends, product performance,
manufacturing versus trading analysis, gross margin analysis, seasonal
demand patterns, inventory and ABC classification, regional sales distribution,
financial performance, and balance sheet analysis.

The findings confirm that Spinner Plastic Industries Limited is a financially stable
and growing company with a dominant market presence in North and Central
Kerala. The company's core products — uPVC Pipes and HDPE Pipes
— are strong revenue drivers with efficient inventory turnover. However, the
study also identifies significant opportunities for improvement: geographic
expansion into South Kerala, rationalisation of slow-moving inventory in
trading categories, optimisation of debtor management, and adoption of a
formal ABC-based inventory review system.

The consistent profitability margins (Gross Margin ~18.57%, Net Margin ~5%)
and steady loan reduction over the study period indicate sound financial
management. The seasonal demand pattern, with peak sales concentrated in
October–May, provides a reliable planning framework for production,
procurement, and dealer [Link] study demonstrates the value of
data analytics for manufacturing SMEs in Kerala..

In conclusion, Spinner Plastic Industries Limited is well-positioned for continued

growth. With targeted interventions in market expansion, inventory
management, and financial governance — informed by the insights generated
through this analytics study — the company can strengthen its competitive
position and enhance long-term value creation for all stakeholders.

50
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