A 4-page broadsheet feature in Indian Express Newspaper on Indian Enterprises which completed 75 years.
Inside 75 years is indeed a long journey. For a company to travel 75 years is a journey that marvels persistence and balance of thought process through generations. We present few companies which experienced this remarkable journey to tell us their story of survival and triumph. ...Page 3 The Indian Express- Ahmedabad, Chandigarh, Delhi, Jammu, Kolkata, Lucknow, Mumbai, Nagpur, Pune, Vadodara The Financial Express- Ahmedabad, Bangalore, Chandigarh, Chennai, Hyderabad, Kochi, Kolkata, Lucknow, Mumbai, Delhi, Pune A Space Marketing Feature September 30, 2009 SAMUEL ULLMAN, THE AMERICAN BUSINESSMAN, HUMANITARIAN AND POET WHO WROTE YOUTH ONCE SAID, "NOBODY GROWS OLD MERELY BY LIVING A NUMBER OF YEARS. WE GROW OLD BY DESERTING OUR IDEALS. YEARS MAY WRINKLE THE SKIN, BUT TO GIVE UP ENTHUSIASM WRINKLES THE SOUL." THE MANTRA OF BEING 75 YEARS IN BUSINESS ECHOES THIS THOUGHT IN MULTITUDE. THEY BELONG TO THE VINTAGE LEAGUE WHERE COMPANIES HAVE LASTED THE TEST OF TIME BY VIRTUES CHARACTERIZED BY EXCELLENCE, MATURITY, AND ENDURING APPEAL. Companies which have lived to witness the magical 75 years have an impressive identity, they sum up life itself; maturity reached slowly and against many obstacles, losses left behind, grief and despairs overcome, and unconscious risks taken; maturity formed through so many beliefs, hopes, regrets, forgotten things, strategies, market dynamics, slowdown, booms. A company's age represents a fine cargo of experiences and memories. For most Indian companies which have reached or crossed 75 years, it is consistent adherence towards sustaining the initial enthusiasm and sticking to it even after so long that has seen them reach the Platinum Jubilee with immense success as its loyal shadow. But the journey is indeed long. Many have closed shop mid-way; lost the enthusiasm or got over-enthusiastic, took wrong decisions, misinterpreted partners and market dynamics, got stuck in debts... Survival is not just about the fittest during this journey. It is about an amalgamation of varied facets of life. "The journey of 75 years is often filled with ups and downs especially in the initial years. When we started way back in 1932, the infrastructure was miniscule within the confines of a single room. We had to shift this one location to about 14 places from 1932 to 1951 due to varied reasons. But what saw us through was mainly the strong belief in the service that we planned to offer and sticking on to it during tough times," said Madhukar Talwalkar, Chairman, Talwalkars Better Value Pvt Ltd (TBVF). For many companies, the success has been etched from looking beyond profits. For them, while every morning is business as usual, the integral aspect that revolves around any deal or transaction finally translates into maintaining relationships with partners. "The most important aspect in the journey of reaching 75 years is that of ethical values which should be implemented in all facets of management right from customers, employees and all stakeholders. What matters is how you are able to maintain and strengthen relationships with each of them in good and turbulent times," said M L Gupta, Managing director, Everest Industries Limited. This view is echoed by many other companies which have crossed the platinum mark. Says Harish Manwani, chairman, Hindustan Unilever Limited, "Our history is a story of growth powered by ideas and values. Products, brands and profits followed in their wake. And while we will change to meet the challenges of our times, our values will not. These 75 years have built and nourished the roots of not just a company but a culture. Unilever's very birth celebrated the belief that business must have purpose beyond profit and that the success behind the company lies in the strength of its people." Being contemporary is another important facet which most companies believe is integral to growth in the long run. What's new today is redundant tomorrow is the mantra which most companies have understood since beginning and they have been able to mould themselves, gain new knowledge, touch higher standards...finally perfecting themselves to last a year longer. The mantras to touch 75 are many. But one integral facet of reaching 75, unanimous among all companies is the strong belief that tomorrow is another year. True it is in foresight, as Ralph Waldo Emerson, the American essayist, philosopher, and poet once said, "The years teach much which the days never knew." 2 SEPTEMBER 30 I 2009 � � THE FOUNDERS OF BANK OF MAHARASHTRA WERE AWARE OF THE NEED FOR SETTING UP A BANK WITH NATIONAL PERSPECTIVE AND ROOTS IN THE STATE OF MAHARASHTRA. THUS A GROUP OF VISIONARIES LED BY LATE PROF. V.G. KALE AND LATE D.K. SATHE � FOUNDED BANK OF MAHARASHTRA ON 16TH SEPTEMBER, 1935 AT PUNE. THE AUTHORIZED CAPITAL WAS RS. 10 LAKHS AND � ISSUED CAPITAL RS. 5 LAKHS. ommercial and industrial ac tivity in Maharashtra hinter land before 1930 was relatively moderate and did not require specialized banking services. Banking services were made available by the local co-operative banks. The scope and activities of these banks were limited and their localized approach restricted their expansion beyond certain geographical limits to national level. However, in the city centres of Maharashtra mainly in Mumbai, as the economically active urban population was engaged in non-agricultural and trade-related activities, their financial position gradually rose and as a result, their banking needs also grew. Contrary to this, in the hinterland, the economy was largely unorganised and large-scale job-creation was absent, big commercial banks did not feel like spreading their activities to these areas. This was the time when Bank of Maharashtra happened. The declared objectives of the Bank were to provide banking facilities, promote habit of thrift, and to encourage banking habits and developing trade and industry. What made the Bank distinct from its peers was the concern for the common man. The founders' vision to reach out to and serve the common man meeting his/her banking needs has guided the subsequent leadership of the Bank. "The trust and confidence reposed in it by the people led the Bank to achieve greater glory. The total business of the Bank has grown to Rs. 87,072 crore by 31st March, 2009 comprising Rs.52,255 crore deposits and Rs 34,817 crore advances. Net profit of the Bank reached Rs. 328.39 crore. C During the financial year 2008-09, the Bank recorded excellent growth. The deposits of the Bank recorded 25.14% growth and advances grew by 16.84%. Total business of the Bank grew by 21.68% over the previous year 200809," said Allen CA Pereira, CMD, Bank of Maharashtra. The Bank has a strong base of Current Account and Savings Account (CASA) deposits. The share of CASA to total deposits stood at 35.69% as on 31.03.2009. The bank added 1.14 million new current and savings bank deposit accounts during the year. The Bank has over 12 million customers. The Bank has rolled out 801 branches under Core Banking Solution (CBS) covering 88 per cent of the Bank's business. The bank implemented Real Time Gross Settlement (RTGS) and National Electronic Fund Transfer (NEFT) schemes at 684 branches, facilitating free transfer of funds. All rural and semi-urban branches are computerized through bilingual total branch automation software. BoM has its own corporate network named MAHANET, linking major branches and all its 32 Regional Offices with video conferencing capability. "The Bank is also providing internet banking, phone banking and SMS banking to its customers. The Bank has endeavoured to reach out to the younger generation in order to inculcate the habit of saving and introducing them to banking at young age. The Mahasaraswati Recurring Deposit Scheme has been launched for minors/ students, with add-on Free accident insurance during the tenor of the Deposit. The student will get preferen- tial treatment for Education loan with a concession of 0.25% in rate of interest. In case beneficiary hails from the Below Poverty Line (BPL) family, interest rate concession would be 0.50%. Over 150000 young people have come into banking fold under this scheme," said Pereira. Recently the Bank has formed a Retail Credit Hub at Pune Regional Office in Yashomangal building, facilitating hassle-free and speedy clearance of applications for Housing Loans, Vehicle Loans and Mortgage loans. Two more Retail Credit Hubs by the name Mahabank Retail Credit Hub (MARCH) will be opened. Under its `Maha-Bharati' scheme, the Bank has packaged all its NRI services together and an NRI Cell has been set up in the Head Office. 28 FEX centres and 22 branches spread over 35 cities give special attention to the needs of Non Resident Indians. In order to make investing in Public Issues easier, Bank has launched Application supported by Blocked Amounts (ASBA) system - an application for subscribing to Public Issue, with the facility of blocking the application money in a bank account. Bank established Central Pension Processing Cell (CPPC) at Pune for centralized pension calculations to ensure timely payment of pension and related benefits. An exclusive Pension Payment Branch for the convenience of the pensioners is set up at Pune. The Branch at Lokmangal offers valet parking and banking facility for customers from any of the branches in Pune city. "Our vision is to be vibrant, forward looking, techno-savvy, customer cen- tric Bank, serving diverse sections of the society, enhancing shareholders' and employees' value while moving towards global presence. The Bank is aiming to achieve total business of Rs 150,000 crore by 2012, by crossing Rs 110,000 crore by September 2010. The Bank stepped into its Platinum Jubilee on 16th September, 2009," said Pereira. � Future Plans � Total Business of Rs 1,04,000 crore � st by 31 March 2010 and Rs 1,10,000 crore by 16th September, 2010. � Branch Network - 1500 branches by 31st March, 2010. � All branches to be networked under CBS. � Adoption of 75 backward villages for integrated development with emphasis on providing basic sanitation, health, hygiene, education, energy, water conservation, sustainable economic development with focus on agriculture and self employment. � To have 75000 SHGs. � To be everyone's bank for every banking need. crore of which total deposits more than Rs. 52,255 crore and Gross advances more than Rs. 34817 crore as of 31st March 2009. Branch network comprises of 1375 branches and 3 extension counters spread over 22 states and 2 union territories. The Bank has a network of 345 ATMs with VISA connectivity. The Bank has also tied up with National Financial Switch and MITR Bank has 28 FEX centers to handle FEX business. Toll Free telephones at 11 m a j o r M e t r o centers. Implemented Maha Quick A n y Branch Banking Scheme in 696 branches (CBS) Credit Card and Kisan Credit Card facility available. More than 2,17,100 Kisan Credit Cards issued. � Lending to Priority sector was 48.63%, which is more than stipulated norms of 40%. � Finances to various non-traditional activities through Self Help Groups (SHGs) that have proved to be effective instrument for women empowerment. � Gramin Mahila Va Balak Mandal is a trust sponsored by the Bank in 1989.Its objective is the empowerment of rural women through the medium of Self Help Group. � Assuming responsibility of Lead Banker in 6 districts i.e. Pune, Nasik, Satara, Thane, Aurangabad, and Jalna Districts of Maharashtra State. Established Rural Development Centers at Hadapsar and Bhigwan in Maharashtra. � Floated subsidiary companyThe Maharashtra Executor & Trustee Company Ltd. (METCO) which undertakes Trustee Business, Property Management and Tax Consultancy as well. Highlights � Autonomy secured in � the year 1998 continues. Total business more than Rs. 87027 Allen CA Pereira, CMD, Bank of Maharashtra THE OBEROI GROUP 1934, WITH THE FOUNDER CHAIRMAN OF THE GROUP, RAI BAHADUR M.S. OBEROI, PURCHASING HIS FIRST HOTEL, THE CLARKES HOTEL, FROM HIS MENTOR BY MORTGAGING HIS WIFE'S JEWELLERY AND ALL HIS ASSETS. WAS FOUNDED IN T he late Founder Chairman of The Oberoi Group, M.S. Oberoi started his career in the hotel industry as a front desk clerk at the Cecil Hotel, Shimla, at a monthly salary of Indian Rupees 50. In 1938, M.S Oberoi signed a lease to operate the 500-room Grand Hotel in Calcutta (now known as `The Oberoi Grand, Kolkata. Over several years, M.S. Oberoi had purchased shares in Associated Hotels of India (AHI), which owned Cecil and Corstophans hotels in Shimla, Maidens and Imperial hotels in Delhi and a hotel each in Lahore, Murree, Rawalpindi and Peshawar. In 1943, M.S. Oberoi acquired controlling interest in AHI. He thus became the first Indian to run the country's largest and finest hotel chain. Expansion In 1965, the Company built its first hotel � `The Oberoi Intercontinental', now known as `The Oberoi, New Delhi'. Rai Bahadur M.S. Oberoi was the first Indian hotelier to enter into an agreement with an internationally renowned hotel chain, to open the first modern, five-star hotel in the country. The Oberoi Intercontinental, in New Delhi (The I-Con, as it became popularly known) offered facilities that no other hotel in the country matched and was India's first luxury hotel. "We live in a world that is changing rapidly...changes in tastes, expectations and needs. The challenge always is to be able to anticipate these changes and have the ability to meet new demands in as short a time as is possible. It requires us in the hospitality industry to be accessible yet exclusive, welcoming yet discriminating, protective of valuable tradition but always innovating, without compromising the brands on which our businesses are based. Innovation and creative thinking is almost a daily requirement," said Oberoi. On 9 September 1968, the Company, The Associated Hotels of India Limited and Hotels (1938) Private Limited were merged, with the Company being the surviving entity. As a result of the merger, the Company acquired the ownership of `Maidens Hotel' in Delhi, `The Oberoi Grand' in Calcutta, `Palm Beach' in Gopalpur-on-Sea, `The Oberoi Cecil' in Shimla and `The Mount Everest' in Darjeeling. In April 1973, the Company opened `The Oberoi Sheraton' in Mumbai, now known as `Trident, Nariman Point, Mumbai'. M.S. Oberoi was the first Indian to work in association with international EIH EIH Limited (previously known as East India Hotels Limited) is the largest flagship company of The Oberoi Group. East India Hotels Limited (EIH) was incorporated as a public limited Company on 26 May 1949, under the Indian Companies Act, 1913. The Company started its business activities as the lessee and operator of The Oberoi Palace Hotel in Srinagar, Kashmir. "One of our key strengths is the ability to provide excellent service to our customers. I believe that in the ultimate analysis in any service industry it is service that counts. The words "good service" are often misunderstood. To me "good service" is the manner in which the service is provided. "Good service" does not necessarily mean speed. I strongly feel that most customers expect courtesy and genuine warmth. To provide "good service" we select staff carefully, train them meticulously and keep them motivated," said P.R.S. Oberoi, Chairman, The Oberoi Group. P .R.S. Oberoi, Chairman, The Oberoi Group chains to woo international travellers to India. This led to a heavy influx of international travellers and foreign occupancy soared to an average of 85%. This enabled The Oberoi Group to significantly contribute to the country's foreign exchange earnings. In 1986, the Company opened `The Oberoi, Mumbai' and `The Oberoi, Bhubaneshwar' (now known as `Trident, Bhubaneshwar'). The Company then constructed `The Oberoi, Bangalore', which opened in August 1992. On 1 November 1996, the name of the Company was changed from the `East India Hotels Limited' to `EIH Limited'. * The quality of The Oberoi Group's operations is reflected both in very high guest satisfaction levels and in accolades received in readers' surveys conducted by leading international consumer publications. A summary of recent significant awards is given below: * The Oberoi Udaivilas, Udaipur was ranked the best hotel in the world in the prestigious Travel + Leisure magazine's World's Best Awards readers' survey 2007. This ranking is acknowledged as amongst the most revered in the international travel industry. This ranking is the result of a readers' poll conducted by Travel + Leisure (USA), the world's leading travel magazine. It is the readers who define excellence in travel by rating their experiences and evaluating hotels across the world on characteristics ranging from rooms, facilities, location and service to restaurants, food and value. * `Oberoi Hotels & Resorts' was ranked the best hotel chain (outside the US) in a readers' poll of business travellers in Cond� Nast Traveler magazine's (USA) Business Travel Awards 2007. * Three Oberoi hotels were ranked amongst the 10 best in the world in Cond� Nast Traveler magazine's (USA) Readers' Choice Awards 2007. The Oberoi Udaivilas, Udaipur; The Oberoi Vanyavilas, Ranthambhore and The Oberoi Amarvilas, Agra were rated 2nd, 3rd and 6th best hotels in the world respectively. These results are the outcome of the largest independent poll of consumers' preferences in USA, the Readers' Choice Survey, which is second in size only to the US Census. * `Oberoi Hotels & Resorts' was voted the `Leading luxury hotel brand in Asia' in the World Travel Awards 2007. * `Oberoi Hotels & Resorts' was ranked the best hotel chain (outside the UK) by the readers in the Guardian, Observer and guardian.co.uk Travel Awards 2008. * `Trident Hotels' was rated the `Best first class hotel brand in India' for the 4th consecutive year at the Galileo-Express TravelWorld Awards in 2008. "Several Oberoi hotels have been ranked amongst the best in the world. I have personally received hundreds of letters from guests complimenting us on the excellent standards we have achieved. I am often asked as to what is our biggest asset. Our biggest asset is our people. Good employees and attention to detail are crucial. It is often said that the `devil is in the detail'. This is very true," said Oberoi. Internationally, new projects under planning and development include a luxury Oberoi hotel at the Business Bay in Dubai, two luxury Oberoi hotels in the Emirate of Abu Dhabi, an Oberoi hotel in Oman and in Marrakech. 3 SEPTEMBER 30 I 2009 EVEREST INDUSTRIES LIMITED, ESTABLISHED IN THE YEAR 1934, A COMPLETE BUILDING SOLUTIONS COMPANY, HAS FORAYED INTO PRE-ENGINEERED STEEL BUILDINGS (PEB). A WONDER OF MODERN TECHNOLOGY, PEB HAVE REVOLUTIONIZED THE VERY CONCEPT OF INDUSTRIAL, COMMERCIAL AND RESIDENTIAL BUILDINGS. 75 YEARS IS INDEED A LONG JOURNEY. FOR A PERSON, IT MAY NOT BE ARDUOUS BECAUSE OF ONE LIFE INTERACTING WITH MANY PEOPLE, PLACES AND CIRCUMSTANCES. BUT FOR A COMPANY TO TRAVEL 75 YEARS, WITH ALL THE UPS AND DOWNS, DIFFERENT PEOPLE DRIVING IT, FREEDOM MOVEMENT, VARIED ECONOMIC CONDITIONS, NATIONAL ISSUES, WARS, WAGES, STRIKES...THERE ARE PLETHORA OF FACETS THAT A COMPANY WITNESSES WHILE TREADING THE JOURNEY TO TOUCH PLATINUM. IT IS A JOURNEY THAT MARVELS PERSISTENCE AND THE BALANCE OF THOUGHT PROCESS THROUGH DIFFERENT GENERATIONS OF PEOPLE AND THOSE IN BACKSTAGE. WE LIST FEW COMPANIES WHICH EXPERIENCED THIS REMARKABLE JOURNEY TO TELL US THEIR STORY OF SURVIVAL AND TRIUMPH. PARTICULAR ORDER. THEY ARE LISTED IN NO Bajaj Group Jamnalal Bajaj was the founding father of the Bajaj Group. The Bajaj group comprises 27 companies and was founded in the year 1926. At the turn of the new millennium, this business conglomerate had a sale turnover in excess of US$ 1,300 million. The Net Assets were worth US$ 1,333 million and the Net Profit was US$ 58 million. It was ranked as the 5th largest business family in India by the Centre for Monitoring Indian economy (CMIE) in 2001. It has strength of over 25000 employees. On 20th April 2009, Bajaj Electricals Limited launched its first Green office in Chennai. The order book for the company stands at Rs 1035 crores as on 9th February 2009. Balmer Lawrie Established in 1867 by two Scotsmen, George Stephen Balmer and Alexander Lawrie at Kolkata, Balmer Lawrie & Co. Ltd., the company began its journey as a Partnership Firm. It has ventured in a variety of businesses from Tea to Shipping, Insurance to Banking, and Trading to Manufacturing. Today, Balmer Lawrie has emerged as a multi-activity, multi-technology, multi-location conglomerate with global footprints. Net Sales/Income 3 months ended till 30th June 2009 was set at Rs.415.70 Crores and the net profit from the ordinary activities after tax as was Rs.28.92 Crores. The company is striving hard to surpass a turnover of Rs.2000 crores and profits before tax of Rs.200 crores by 2010. Bridgestone Bridgestone India Private Limited, a part of Bridgestone Corporation, Japan is one of the leading manufacturers of tyres in India. It offers the widest range of tyres and tubes suited for different vehicles. It owns reputed tyre brands like Potenza, Turanza, and Dueler which are available through its network of more than 1000 tyre dealers across India with excellent tyre knowledge and who can help you with queries on tyre selection, tyre care, tyre maintenance, tyre patterns and even tyre size. During the first quarter 2008-09, the net income and Profit Before Tax of the Company were Rs.433 crore and Rs.36.5 crore as against Rs.363 crore and Rs.30.5 crore during the first quarter of 2007-08. CSB The Catholic Syrian bank (CSB) was founded on 26th November 1920 at Thrissur. The genesis of Indian Banking is associated to a large extent with Swadeshi Movement and the enterprising founders of Catholic Syrian Bank Ltd found this period an opportune moment to promote the establishment of a bank. The CBS commenced business on January 1st, 1921 with an authorised capital of Rs.5 lakhs. During the first two decades of its functioning, the Bank concentrated only in Kerala. At present, the bank has a network of 363 branches. The Bank plans to open more number of branches in a phased manner. The bank posted a net profit of Rs.371863 by the end of 31st March 2009. From basic thatched-roof hutments to single-storey stone structures to modern high-rise marvels to gargantuan pillar-less factories, building design and construction has continued to innovate and evolve over time, the world over. Even then, a lot more needs to be done due to increasing globalization, tighter deadlines and stringent governmental policies. Today, building design and the methods and materials of construction need to be more efficient, highly durable and quick to execute. Therefore it is essential to do away with the hassles of hiring a contractor, ensuring a steady supply of raw material, managing logistical and on-site issues like weather conditions and manpower," said M K Gupta, Managing Director, Everest Industries Limited. Historically, Everest has provided rural shelters by making corrugated roofing sheets available to farmers at a competitive price. The company is poised to capitalize on the opportunities in rural India where various housing and infrastructure initiatives are envisaged by the Government. Everest PEB offer many advantages over conventional structures like: � No hassles of hiring contractors or arranging raw material � No on-site issues as entire construction takes place in the factory � Complete logistics and project management � 30% lighter than other structures � 200 times faster than conventional building methods � Highly resistant to seismic shocks � Green buildings, as wood isn't used in any stage of manufacturing " � Energy efficient, as they provide better thermal insulation Everest Pre-Engineered Steel Buildings Everest Pre-Engineered Steel Buildings are the fastest systems of industrial construction today. These buildings are 100% custom-built as per the exact specifications using computeraided design, and with the optimum use of steel. "Everest is perhaps the only company in this industry that not only offers design and manufacturing of complete range of pre-engineered buildings but also provides on-site installation services of the complete structure. Everest manufactures highquality steel frames and metal claddings in its factory and transports them to the site for quick erection, thus saving considerable on-site work," said Gupta. To provide end-to-end PEB solutions, Everest has set-up an ultra-modern manufacturing unit in Bhagwanpur, built with an investment of Rs 90 crore. This plant can manufacture up to 60,000 MT of steel buildings per annum. The capacity can be further expanded to 100,000MT. Since its foray into PEB last year, Everest has already bagged 69 projects to provide more than 85 buildings worth over Rs 85 crore. These buildings that range from a simple warehouse to a huge industrial plant with over 280MT cranes, have been built inside the Everest PreEngineered Steel Building factory and installed on site. Today, the company's product portfolio comprises Steel Buildings, Ceilings, Walls, Floors, Cladding, Doors and Roofing Solutions. Milestones 1934: The first manufacturing facility was established at Kymore in Madhya Pradesh 1937: The Company's second manufacturing facility was established 1938: The Company's third manufacturing facility was established in Kolkata 1953: The Company's fourth manufacturing facility was es- tablished at Podanur in Coimbatore 1994: Company's most modern manufacturing facility was established at Lakhmapur in Nashik. 2005: Asbestos free roofing product Hitech was launched 2006: Prefabricated Everest solid wall panels launched for partitions, walling and other applications. 2007: The company's fifth manufacturing facility commenced trial production at Bhagwanpur in Roorkee. 2008: Diversification into pre-engineered steel buildings (PEB) and setting up of Company's sixth manufacturing facility at Bhagwanpur in Roorkee. 2009: Everest gets IGBC accreditation � for its green product � fibre cement boards which contribute towards LEED-India M K Gupta, Managing Director, Everest Industries Limited Golcha Group Since 1930, Golcha Group is the foremost and largest producer of Talc in India. The name `Golcha' is synonymous with Talc and today it has become a global player in the Talc industry. Golcha Group is mining tons of Talc every year and has estimated reserves of more than 25 million tons from two large mining areas. Golcha Talc meets the growing needs of user industries viz. Paper,Plastics, Paints, Pharmaceuticals, Cosmetics and Soaps etc. Some of the Companies of the Group are recognised as the first Talc company in India with ISO 9001: 2000 certification. Dhanalakshmi Dhanalakshmi Bank was incorporated on 14th November 1927 by a group of ambitious entrepreneurs at Thrissur. The bank started with a Capital of Rs.11,000 and 7 employees and subsequently became a Scheduled Commercial Bank in the year 1977. The Bank increased its net profit to Rs.10.12 crore in the first quarter of 2009. It has recently received approval from the Reserve Bank of India to open 66 branches and 380 ATMs across the country during 2009. This will increase the number of customer outlets from 279 to 725 helping it attain a national stature. Himalaya Drug Co. Seventy nine years ago on a visit to Burma, Himalayas Founder M. Manal saw restless elephants being fed with a root to pacify them. The plant from which this was taken is Rouwolfia Serpentina. Fascinated by the plant's effect on elephants, he had it scientifically evaluated. After extensive research, serpina, the world's first anti-hypertensive drug was launched in 1934. This legacy of researching nature forms the foundation of Himalaya's operation. It pioneered research that converted Ayurveda's herbal tradition into a complete range of proprietary formulations. Federal Bank The Federal Bank Limited (the erstwhile Travancore Federal Bank Limited) was incorporated with an authorised capital of Rupees 5,000/at Nedumpuram, a place near Tiruvalla in Central Travancore on 28th April 1931 under the Travancore Company's Act. The Net Profit of the Bank for the financial year ended March 2009 was Rs.500.49 Crores, up by 35.98 % over the figure of Rs.368.05 Crores clocked during the corresponding period of the previous year. Total income for the fiscal ended 31st March 2009 increased from Rs.2910.16 Crores to Rs.3831.15 Crores. Cipla In the year 1935, Khwaja Abdul Hamied set up the Chemical, Industrial & Pharmaceutical Laboratories which came to be popularly known as Cipla. Dr. Khwaja gave the company all his patent and proprietary formulas for several drugs and medicines, without charging any royalty. On August 17, 1935, Cipla was registered as a public limited company with an authorised capital of Rs.6 lakhs. The company was officially opened on September 22, 1937. As on 26th August 2009, the Company's turnover crossed the landmark figure of Rs.5, 000 Crores, which is an increase of 22 per cent. The exports grew by 30 percent for the same period. Union Bank of India Union Bank of India was flagged off by Mahatma Gandhi and since then the bank has unflinchingly travelled a journey that spans 88 years. Today, Union Bank is a Public Sector Unit with 55.43% Share Capital held by the Government of India. The Bank came out with its Initial Public Offer (IPO) on August 20, 2002 and Follow on Public Offer in February 2006. The Bank recorded a quarterly Operating profit of Rs.787 crores for June,'09 as against Rs.616 crores for the quarter ended June, 2008 registering growth of 27.76%. Net Profit increased by 93.86% to Rs.442 crores from Rs.228 crores due to increase in non interest income by 117.70 percent to Rs.529 Crores. Hindustan Unilever HUL heritage dates back to 1888, when the first Unilever 's product, Sunlight, was introduced in India. Local manufacturing began in the 1930s with the establishment of subsidiary companies. They merged in 1956 to form Hindustan Lever Limited (The company was renamed Hindustan Unilever Limited on June 25, 2007). The company created history when it offered equity to Indian shareholders, becoming the first foreign subsidiary company to do so. Today, the company has more than 360675 resident shareholders.