I did more research on how to creates reports that can be viewed from Word with less effort. And then I just thought about Rich Text Format. We can view rtf documents from MS Word. After Googling for some time I found about iText. I knew it is used to create PDF documents, but until that morment I didn't knew that it can creates rtf documents as well. So that is the solution..... Create the report using iText.
We can create rtf documents with nice formating with less effort. You can find good tutorial on how to create rtf documents using iText here.