The Platinum League by Nadimidoddi Prasad

S EPTEMBER - 2 0 0 9

BANK OF MAHARASHTRA B ANKING A CUMEN THE FOUNDERS WERE AWARE OF THE NEED FOR SETTING UP A BANK WITH NATIONAL PERSPECTIVE AND ROOTS IN THE

VINTAGE SEVENTY FIVE

STATE OF MAHARASHTRA. THUS A

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.

PAGE NO:4

T HE O BEROI G ROUP

E XEMPLIFIED L UXURY

GROUP OF VISIONARIES LED BY LATE

PROF. V.G. KALE AND LATE D.K. SATHE FOUNDED BANK OF MAHARASHTRA.

PAGE NO:6

EVEREST INDUSTRIES LTD. B UILDING S UMMIT

FEDERAL BANK

EVEREST INDUSTRIES LTD, THE PIONEER OF

FEDERAL BANK LIMITED WAS FOUNDED AS TRAVANCORE FEDERAL BANK LIMITED IN THE YEAR 1931, WITH AN AUTHORIZED CAPITAL OF RS. 5000. IT WAS ESTABLISHED AT NEDUMPURAM, A PLACE NEAR TIRUVALLA, IN CENTRAL TRAVANCORE, UNDER TRAVANCORE COMPANY’S ACT.

WITH VISION AND IMAGINATION, MR. OBEROI CONVERTED OLD AND DILAPIDATED PALACES, HISTORICAL

FIBRE CEMENT BUILDING PRODUCTS WAS

MONUMENTS AND BUILDINGS INTO

SHAREHOLDERS- TURNER & NEWALL, UK

MAGNIFICENT HOTELS SUCH AS THE OBEROI GRAND IN CALCUTTA, THE HISTORIC MENA HOUSE IN CAIRO AND THE WINDSOR IN AUSTRALIA.

AND C P CEMENT CO. LIMITED, INDIA.

PAGE NO:12

PAGE NO:18

INCORPORATED IN

1934 WITH TWO

C P CEMENT, WITH OTHER COMPANIES, LATER FORMED ASSOCIATED CEMENT

C USTOMER -F RIENDLY

B ANKING

COMPANIES LIMITED (ACC) IN 1936.

PAGE NO:24

C HAIRMAN OF THE B OARD : V I VECK G OENK A , V ICE P RESIDEN T & H EAD - B P D : S ANDEEP K HOSL A , G ENERAL M ANAGER : B IJU M ATHEWS , D Y . C HIEF M ANAGER : A N THONY D ANIEL , S R . M ANAGER : Y. S. V ENK AT S WAMY , M ANAGERS : L. F RANCIS F ARIA S , A.K. S HUKL A , D Y . M ANAGER : V IJAY K ULK ARNI , E DITORIAL : C HIEF OF B UREAU : V YA S S I VANAND , R EPORTERS : A MAL T E WARI , A MGUTH R A JU , D ESIGN & L AYOUT : N. P RA SAD , P RODUCTION & C IRCUL ATION : M.E.A. M UJAHID S UPPORT & C O - ORDINATION : M. N ARENDER , B. N ARESH , IT S UPPORT : M. H EMAN T K UMAR , R. S UMAN K UMAR A LL

C OPYRIGHT : T HE I NDIAN E XPRESS L IMITED . R EPRODUCTION IN ANY MANNER , ELECTRONIC OR OTHERW ISE , IN WHOLE OR IN PART , WITHOUT PRIOR WRITTEN PERMISSION , IS PROHIBITED . A RTICLES BY CON TRIBUTORS ARE SOLELY THE AUTHOR ' S VIE WS . T HE Y DO NOT REFLECT THE PUBLICATION ' S V IE WS . A LL CORRESPONDENCE SHOULD BE SEN T TO : T HE I NDIAN E XPRESS L IMITED , B USINESS P UBLICATIONS D I V ISION , 6-3-885/7/B, G ROUND F LOOR , V.V. M ANSION , S OMA JIGUDA , H YDERABAD -82 T EL : 23418672, 23418673/674, 679 TO 680, 66631457 T ELE F A X : 23418675 / 681 E- MAIL : BPD . HYD @ E XPRESSINDIA . COM S EPTEMBER - 2 0 0 9 W EBSITE : W W W . E XPRESSINDIA . COM

RIGHTS RESERVED .

S EPTEMBER - 2 0 0 9

Vintage Seventy Five C

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.

ompanies 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.

S EPTEMBER - 2 0 0 9

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, or 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

“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

to shift this one location to about 14 places from 1932 to 1951

THESE 75 YEARS HAVE BUILT AND NOURISHED THE ROOTS OF NOT JUST A COMPANY BUT A CULTURE. UNILEVER’S VERY BIRTH

due to varied reasons. But what saw us through was mainly

CELEBRATED THE BELIEF THAT BUSINESS MUST

initial years. When we started way back in 1932, the infrastructure was miniscule within the confines of single room. We had

WILL NOT.

the strong belief in the service that we planned to offer and

HAVE PURPOSE BEYOND PROFIT AND THAT THE

sticking on to it during tough times,” said Madhukar Talwalkar,

SUCCESS BEHIND THE COMPANY LIES IN THE

Chairman, Talwalkars Better Value Pvt Ltd (TBVF).

STRENGTH OF ITS PEOPLE.”

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.”

S EPTEMBER - 2 0 0 9

Banking Acumen The 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 of Maharashtra distinct from its peers was the concern for the common man.

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 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.

AND LATE

S EPTEMBER - 2 0 0 9

Commercial and industrial activity in Maharashtra hinterland before 1930 was

year 2008-09,” said Allen CA Pereira, CMD, Bank of Maharashtra.

relatively moderate and did not require

The Bank has a strong base of Current

specialized banking services. Banking ser-

Account and Savings Account (CASA) de-

vices were made available by the local

posits. The share of CASA to total de-

co-operative banks.

posits stood at 35.69% as on 31st March

The scope and activities of these banks

2009.

were limited and their localized approach

The bank added 1.14 million new cur-

restricted their expansion beyond certain

rent and savings bank deposit accounts

geographical limits to national level.

during the year. The Bank has over 12

However, in the city centres of

million customers.

1936

Maharashtra mainly in Mumbai, as the

The Bank has rolled out 801 branches

economically active urban population was

under Core Banking Solution (CBS) cov-

F EBRUARY 8: C OMMENCED

engaged in non-agricultural and trade-

ering 88 per cent of the Bank’s business.

BUSINESS.

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.

The bank implemented Real Time Gross Settlement (RTGS) and National Electronic

AS A

1945

funds. All rural and semi-urban branches are

D EPOSITS

computerized through bilingual total

CROSSED

MAHANET, linking major branches and

objectives of the Bank were to provide

all its 32 Regional Offices with video

banking facilities, promote habit of thrift,

conferencing capability. “The Bank is also providing internet banking, phone banking and SMS bank-

What made the Bank distinct from its

ing to its customers. The Bank has en-

peers was the concern for the common

deavoured to reach out to the younger

man. The founders’ vision to reach out

generation in order to inculcate the habit

to and serve the common man meeting

of saving and introducing them to bank-

his/her banking needs has guided the

ing at young age. The Mahasaraswati Re-

subsequent leadership of the Bank.

curring Deposit Scheme has been

R S . 1.00

MARK .

C RORE

branch automation software. BoM has

Maharashtra happened. The declared

S CHEDULED

B A NK .

branches, facilitating free transfer of

it s own corporate net work named

veloping trade and industry.

R ECOGNISED

Fund Transfer (NEFT) schemes at 684

This was the time when Bank of

and to encourage banking habits and de-

1944

1946 E XECUTOR

T RUSTEE C OM -

AND

PANY

FORMED .

1957 F IRST S TAFF T RAINING C ENTRE SETUP AT

P UNE .

1958 L ISTED

B OMBAY S TOCK

E XCH A N GE . 1960

“The trust and confidence reposed in

launched for minors/students, with add-

L ICENSED

it by the people led the Bank to achieve

on Free accident insurance during the

F OREIGN C URRENCIES .(34

greater glory. The total business of the

tenor of the Deposit. The student will get

C OUNTRIES , 36 B ANKS ).

Bank has grown to Rs. 87,072 crore by

preferential treatment for Education loan

31st March, 2009 comprising Rs.52,255

with a concession of 0.25% in rate of

1969

crore deposits and Rs 34,817 crore ad-

interest. In case beneficiary hails from the

153 B RANCHES & T OTAL

vances. Net profit of the Bank reached

Below Poverty Line (BPL) family, interest

Rs. 328.39 crore. During the financial year

rate concession would be 0.50%. Over

2008-09, the Bank recorded excellent

150000 young people have come into

grow th. The deposits of the Bank re-

banking fold under this scheme,” said

corded 25.14% grow th and advances

Pereira. Recently the Bank has formed a

grew by 16.84%. Total business of the

Retail Credit Hub at Pune Regional Office

Bank grew by 21.68% over the previous

in Yashomangal building, facilitating

B USINESS

TO DEAL IN ALL

R S . 152 C RORE 1970

D EPOSIT

BA SE CROSSED

C RORE

R S . 100

MARK .

S EPTEMBER - 2 0 0 9

hassle-free and speedy clearance of ap-

of blocking the application money in a

plications for Housing Loans, Vehicle

bank account.

Loans and Mortgage loans.

Bank established Central Pension Pro-

Two more Retail Credit Hubs by the

cessing Cell (CPPC) at Pune for centralized

name Mahabank Retail Credit Hub

pension calculations to ensure timely pay-

(MARCH) will be opened. Under it s

ment of pension and related benefits.

‘Maha-Bharati’ scheme, the Bank has

An exclusive Pension Payment Branch

packaged all its NRI services together and

for the convenience of the pensioners is

an NRI Cell has been set up in the Head

set up at Pune.

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 Amount s (ASBA) system - an application for subscribing to Public Issue, with the facility

The Branch at Lokmangal offers valet parking and banking facility for custom-

1976

ers from any of the branches in Pune city.

S PONSORED “M ARATHWADA

“Our vision is to be vibrant, forward looking, techno-savvy, customer centric

G RAMIN B ANK ” – RRB H EADQUARTERS

WITH

N ANDED .

Bank, serving diverse sections of the society, enhancing shareholders’ and em-

A PPOINTED

ployees’ value while moving towards glo-

S TATE L E VEL B ANKER ’ S C OMMIT -

C ON VENOR

bal presence.

TO THE

TEE

1978 T HE

THEN

H ON ’ BLE

P RIME M INISTER

I NDIA

S HRI .M ORAR JI D ESAI RATED THE NE W

B UILDING

INAUGU -

H EAD O FFICE ‘L OKMANGAL ’

PUNE. L ATE . P ROF . V. G. K ALE M EMORIAL

LIBRARY OPENED AT

‘L O K M A N G A L ’. 1980 500 TH B RANCH

OF THE

B ANK

N ARIMAN P OINT M UMBAI INAUGURATED BY THE

I NDIRA G ANDHI , M INISTER

L ATE

THE THEN OF

S MT . P RIME

I NDIA .

1981 “A URANGABAD - J ALNA G RAMIN B ANK ” 2 ND RRB OPERATION .

B RANCH ” OF

COMMENCED

“A NANDVAN

OPENED AT THE HANDS

L ATE P ANDMAV IBHUSHAN S HRI B ABA A MTE .

Allen CA Pereira, CMD, Bank of Maharashtra

S EPTEMBER - 2 0 0 9

The Bank is aiming to achieve total

Implemented Maha Quick Any Branch

business of Rs 150,000 crore by 2012, by

Banking Scheme in 696 branches (CBS)

crossing Rs 110,000 crore by September

Credit Card and Kisan Credit Card facil-

2010. The Bank stepped into its Platinum

ity available. More than 2,17,100 Kisan

Jubilee on 16th September, 2009,” said

Credit Cards issued.

Pereira.

Future Plans Total Business of Rs 1,04,000 crore by

31st March 2010 and Rs 1,10,000 crore by 16th September, 2010. Branch Network - 1500 branches by st

31 March, 2010. All branches to be networked under

CBS. Adoption of 75 backward villages for

Lending to Priority sector was 48.63%,

which is more than stipulated norms of 40%. Finances to various non-traditional ac-

tivities 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

D R . M ANMOHAN S INGH ,

THE THEN

G OVERNOR R ESERVE B ANK I NDIA , L AUNCHED

B ANK ’ S

THE

objective is the empowerment of rural

G OLDEN J UBILEE C ELEBRATION .

integrated development with empha-

women through the medium of Self

sis on providing basic sanitation,

1986

Help Group.

health, hygiene, education, energy, water conservation, sustainable economic development with focus on agriculture and self employment.

Assuming responsibility of Lead Banker

in 6 districts i.e. Pune, Nasik, Satara,

1000 TH B RANCH

and Bhigwan in Maharashtra.

Autonomy secured in the year 1998

continues. Total business more than Rs. 87027

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 net work comprises of 1375

branches and 3 ex tension counters spread over 22 states and 2 union territories.

Maharashtra Executor & Trustee Com-

Specialised branches:

• Overseas branches - 2 • Industrial Finance branches - 2 • Agro High-Tech branches - 4 • S.S.I. branches - 14 • Treasury & international Banking - 1 Established Mahabank Self Employ-

ment Training Institute (MSETI) at Hadapsar, Pune under the aegis of MARDEF in coordination with NABARD

also tied up with National Financial

and Maharashtra State Government in

Switch and MITR

December 2001.The institute has

Toll Free telephones at 11 major Metro

centers.

F IRST

OVERSEA S BRANCH OPENED AT

Trustee Business, Property Manage-

with VISA connectivity. The Bank has

business.

1988

pany Ltd. (METCO) which undertakes ment and Tax Consultancy as well.

opened new centers at Aurangabad & Nagpur in 2003-2004. Sponsored three Regional Rural Banks

OPENED AT

I NDIRA V ASAHAT , P UNE .

Floated subsidiar y company- The

The Bank has a network of 345 ATMs

Bank has 28 FEX centers to handle FEX

COMMENCED OPERATION .

1987

To be everyone’s bank for every bank-

Highlights

RRB

of Maharashtra State. Established Rural Development Centers at Hadapsar

ing need.

“T HANE G RAMIN B ANK ”- 3 RD

Thane, Aurangabad, and Jalna Districts

To have 75000 SHGs.

1984

M UMBAI . 1991

E NTRY

B ANK

C REDIT C ARD

BUSINESS

M AHARASHTRA I NDIA

C ARD (M ASTER C ARD )

L AUNCHED .

1996 B ANK ’ S D IAMOND J UBILEE C ELEBRATION

L AUNCHED BY THE

THEN

RBI

G OVERNOR D R . C. R ANGARA JAN 2004 M AIDEN E QUITY I SSUE

B ANK ’ S

SHARES.

A CQUIRED 9%

STAKE IN

G LOBAL

T RADE F INANCE P RI VATE L TD .

in Maharashtra.

S EPTEMBER - 2 0 0 9

2006 S URPA SSED OF

BUSINESS

L ANDMARK

R S . 50,000 C RORES .1 ST CBS BRANCH ROLLED OUT .

M-SETI

(Mahabank

Self-Em-

courses viz. two wheelers, TV and

ployment Training Institute) is an

VCR and domestic appliances, re-

2007

institute established under the aegis

pairs, motor rewinding, photogra-

W ON “R A JBHA SHA P URASK AR ”

of Mahabank Agricultural Research &

phy and video shooting, beauty par-

Rural Development Fund (MARDEF), a

lor, commercial painting, tailoring

trust

etc.

established

Bank

Maharashtra and co-sponsored by the

EDPs specific to the Government

National Bank for rural development

sponsored schemes viz. PMRY,

(NABARD). The institute is recognized

SGSY, SJSRY, SHGs

by the Department of employment & self-employment

Gov t.

Maharashtra.The institute trains unemployed youth from the districts of Pune, Kolhapur, Satara, Sangli, Nashik, Ahmednagar, Jalgaon, Dhule and Nandurbar. The objectives of the Institute are: To train the unemployed youth.

data processing, electronic data enprogrammes. Mahabank Info Center is a retail banking boutique set up by Bank of Maharashtra having the following ac-

status. The following are the training programs identified by M-SETI; the said training is free of cost. Entrepreneurship development

programmes (EDPs) on technical

FOR

FOR THE YEAR

2005-06. W ON B EST P ERFORMANCE A WARD NABARD

FROM FOR

SHG

FOR

2006-07 &

FORMATION

CREDIT

L INK AGE

S MT . P RATIBHA D EVI S INGH P ATIL , H ON ’ BLE P RESIDENT FOR

I NDIA ,

‘B EST B ANK

PRESENTED THE

AWARD

S OL AR W ATER H EATING

F INANCING 07)’

PROGRAMME

B ANK

(2002-

M AHARA SHTRA

provided by the bank at its various Mobilizing deposit s for various

Bank facilities and their subsequent

C OMPE TITION ”

Providing information on services

To increase self-esteem of partici-

placement and counseling them for

I NDIA

“B ILINGUAL H OUSE M AGA ZINE

tivities.

branches and specialized branches,

To help trainees in improvement,

R ESERVE B ANK

tering and computer awareness

To promote rural entrepreneurship.

pants and

Information technology - Electronic

FROM

branches in Pune city, Marketing to increase ATM card base Directing prospective clients to re-

spective branches for financial aid

2008 B ANK

RECEIVED

R A JBHA SHA P URASK AR YEAR

2006-07

etc. Development of business through

bringing in institutional accounts. Image building exercises.

FOR THE

AT THE HANDS OF

H ER E XCELLENCY , P RESIDENT S MT . P RATIBHA D E V I S INGH P ATIL .

on housing, vehicle, consumer durables, education & foreign tours,

I NDIRA G ANDHI

2009 B ANK

WAS AWARDED

I NDIRA

G ANDHI R A JBHA SHA P URASK AR FOR PROMOTING

H INDI ( THE

OFFICIAL L ANGUAGE ) FOR

2007-08

S EPTEMBER - 2 0 0 9

Convenor for State Level Bankers’ Com-

count Holders who maintain quarterly

mittee (Rajbhasha) for Maharashtra.

average balance of Rs 5.00 lakh and

For strengthening MIS and creating

above in their current accounts.

Creating Awareness Bank of Maharashtra had organized a Road Show in Pune City during 2007 with

Savings Bank Accounts

the objective to remind people of the im-

vances accounts, Credit Monitoring

Bank has come out with a novel scheme

portance of Clean and Green in Pune. The

and Administration System (CREAM)

for the benefit of un-banked segment of

show was aimed at creating awareness

was introduced successfully.

the society. The scheme would provide

about Banking Ser vices and also ad-

basic banking facilities by opening ac-

dressed some of the social issues viz. en-

counts with very low initial amount – “no

vironment protection, water conserva-

frills” account. The scheme is to be imple-

tion, rainwater harvesting and observing

mented initially only in the rural and semi

the traffic rules to prevent road accidents.

comprehensive database of all ad-

Bank is the Convenor for Town Official

Language Implementation Committee (TOLIC) at Mumbai, Pune & Solapur. The Bank secured the Fourth Prize for better implementation of Hindi in both “A” and “C” Region under Reser ve Bank of India Rajbhasha Shield Scheme for the year 2006-07. The Bank also secured the Fourth Prize

under R.B.I. Bi-lingual House Magazine Competition for the year 2006-07.

New Initiatives

urban branches, to enable people belonging to low income groups to open an account with the Bank.

Mahabank - YuvaYojana

The Maharashtra Executor & Trustee Co. Ltd. A successful Banker deals not only with

With a view to making children develop

deposits and advances. He deals prima-

the habit of banking and also to make

rily with persons and should be closely

them future customers, it is proposed to

associated with the clients’ affairs as a

introduce suitable schemes for kids /chil-

friend & guide. The Bank of Maharashtra

dren /students.

has also taken active part in welfare of

Mahabank - Pearl

Women’s Loan Scheme

the community and played a key role in

A new current account scheme which

As a part of the efforts oriented to-

serving the society.

provides value addition to Current Ac-

wards improving the economic condi-

To fulfill its social commitments the

count Holders who maintain quarterly

tions of women aimed at their empower-

Bank had established The Maharashtra

average balance of Rs 1.00 lakh and

ment, for ensuring social justice and eq-

Executor & Trustee Co. Ltd. in 1946 as a

above in their current accounts.

uity, a need was felt to provide opportu-

fully owned subsidiary.

Mahabank - Sapphire A new current account scheme which provides value addition to Current Ac-

nities to women by ex tending need based Bank finance with concessions in interest and relaxations in terms of loan schemes. Accordingly certain concession/relaxations have been approved in some existing credit schemes as compared with the loans provided to general public viz. lower interest rates, extended repayment period, lower margin etc. The benefits of the scheme can be pro-

MOVING TOWARDS GLOBAL

vided to a large number of women ben-

PRESENCE.

eficiaries who intend to carry out small

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,”

scale service/business activities. Since the scheme is aimed at empowering women, the widows, destitute women, deserted women will be given adequate consideration and given preference in considering the proposals for credit facilities on merits.

“OUR VISION IS TO BE VIBRANT, FORWARD LOOKING, TECHNOSAVVY, CUSTOMER CENTRIC BANK, SERVING DIVERSE SECTIONS OF THE SOCIETY, ENHANCING SHAREHOLDERS’ AND EMPLOYEES’ VALUE WHILE

S EPTEMBER - 2 0 0 9

Exemplified Luxury Rai Bahadur M.S.Oberoi was fond of saying, “I have been able to accept the challenge and make good. There is comfort in knowing that whatever little I have achieved has also helped to raise the prestige of my country.”

WITH VISION AND IMAGINATION, M.S.OBEROI CONVERTED OLD AND DILAPIDATED PALACES, HISTORICAL MONUMENTS AND BUILDINGS INTO MAGNIFICENT HOTELS SUCH AS THE OBEROI GRAND IN CALCUTTA, THE HISTORIC MENA HOUSE IN CAIRO AND THE WINDSOR IN AUSTRALIA – A HERITAGE MONUMENT IN MELBOURNE, FOR WHICH HE PERSONALLY SUPERVISED THE RESTORATION OF THE HOTEL TO ITS ORIGINAL GRANDEUR AND LATER ACQUIRED IT.

S EPTEMBER - 2 0 0 9

The Oberoi Group, founded in 1934,

Trident hotels are five-star hotels that

Hasheesh in Egypt. The Oberoi Zahra,

operates 27 hotels and three cruisers in

have established a reputation for excel-

Luxury Nile Cruiser, Egypt was launched

five countries under the luxury ‘Oberoi’

lence and are acknowledged for offer-

in 2007.

and five-star ‘Trident’ brands. The Group

ing quality and value. These hotels com-

is also engaged in flight catering, airport

bine state of the art facilities with depend-

lence,

restaurants, travel and tour services, car

able service in a caring environment, mak-

personalised service has ensured a loyal

rentals, project management and corpo-

ing them the ideal choice for business

list of guests and accolades in the world-

rate air charters.

and leisure travellers. Presently there are

wide hospitality industry.

Oberoi Hotels & Resorts is synony-

eight Trident hotels in India located in

mous the world over for providing the

Mumbai, Gurgaon (Delhi National Capi-

right blend of service, luxury and quiet

tal Region), Chennai, Bhubaneshwar,

efficiency. Internationally recognised for

Cochin, Agra, Jaipur and Udaipur. Trident,

all-round excellence and unparalleled lev-

Bandra Kurla, Mumbai is scheduled to

els of service, Oberoi hotels and resorts

open in 2009. The Oberoi Group also

have received innumerable awards and

operates a Trident hotel in the Saudi Ara-

accolades.

bian city of Jeddah.

The Group’s commitment to excelattention

detail

and

“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

A distinctive feature of The Group’s ho-

The last decade has witnessed the de-

mean speed. I strongly feel that most

tels is their highly motivated and well

but of new luxury Oberoi leisure hotels

customers expect courtesy and genuine

trained staff that provides the kind of at-

in India and abroad. In India, these ho-

warmth. To provide good service we se-

tentive, personalised and warm service

tels include The Oberoi Rajvilas, Jaipur;

lect staff carefully, train them meticulously

that is rare today. The Group’s new luxury

The Oberoi Amarvilas, Agra; Wildflower

and keep them motivated,” said P.R.S

hotels have established a reputation for

Hall, Shimla in the Himalayas; The Oberoi

Oberoi, Chairman & CEO, Oberoi Group.

redefining the paradigm of luxury and ex-

Vanyavilas, Ranthambhore; The Oberoi

cellence in service amongst leisure ho-

Cecil, Shimla and The Oberoi Udaivilas,

tels around the world.

Udaipur. Overseas, the new hotels include The Oberoi, Lombok in Indonesia, The Oberoi, Mauritius and The Oberoi, Sahl

Another pioneering landmark was the establishment of the prestigious Oberoi School

Hotel

Management,

recognised by the International Hotel Association in Paris. Recognising the importance of quality training in hospitality management, The Oberoi Group established the school in New Delhi in 1966, which is now known as The Oberoi Centre of Learning and Development. Today, this institution is considered amongst the best in Asia with approximately 100 students graduating each year. Considered India’s premier institute, The Oberoi Centre of Learning and Development continues to provide high quality professional training in hospitality management. The Group is committed to employing the best environmental and ecological practices in technology, equipment and operational processes. The Oberoi Group also supports philanthropic activities that range from education to assistance for the mentally and physically challenged.

Mr. P.R.S. Oberoi, Chairman, The Oberoi Group

The Group is also a keen contributor to

S EPTEMBER - 2 0 0 9

O BEROI H OTELS & R ESORTS HA S BEEN RANKED THE BEST HOTEL CHAIN

They, as members of The Oberoi

Conduct which demonstrates that

Group, are committed to display

people are our key asset, through re-

through their behaviour and actions

spect for every employee, and lead-

the following conduct, which applies

ing from the front regarding perfor-

to all aspects of their business:

mance achievements as well as indi-

Conduct which is of the highest

vidual development.

ethical standards - intellectual, finan-

Conduct which at all times safe-

cial and moral, and reflects the high-

guards the safety, security, health and

est levels of courtesy and consider-

environment of our customers, em-

ation for others.

ployees and the assets of the Com-

Conduct which builds and main-

pany.

tains teamwork, with mutual trust as

Conduct which eschews the short-

the basis of all working relationships.

term quick fix for the long-term es-

Conduct which puts the customer

tablishment of a healthy precedent.

first, the Company second and the self last. Conduct which exemplifies care for the customer through anticipation of

Committed to meeting and exceeding the expectations of guest s through unremitting dedication to every aspect of service.

( OUTSIDE

THE

US) IN

C ONDÉ N AST T RAVELER ’ S 2007 B USINESS T RAVEL

A WARDS

READERS ’

SURVE Y .

O BEROI H OTELS & R ESORTS HA S BEEN RANKED THE BEST HOTEL CHAIN

( OUTSIDE

THE

UK ) IN

T HE G UARDIAN , O BSERVER GUARDIAN . CO . UK

AND

T RAVEL A WARDS 2008 READERS ’

SURVE Y .

O BEROI R A JV IL AS J AIPUR R ATED N O .1 R ATED 2 ND THE

W ORLD

HOTEL IN

A SIA ;

BEST HOTEL IN

T RAVEL &

need, attention to detail, excellence,

Committed to the growth, devel-

aesthetics and style and respect for

opment and welfare of employees,

L EISURE 2008 R EADER ’ S

privacy, along with warmth and con-

people upon whom they rely to make

POLL.

cern.

this happen.

Conduct which demonstrates a

Continue the Oberoi tradition of

two-way communication, accepting

pioneering in the hospitality indus-

constructive debate and dissent

try, striving for unsurpassed excellence

whilst acting fearlessly with convic-

in high-potential locations all the way

tion.

from the Middle East to Asia-Pacific.

O BEROI U DAIV IL A S U DAIPUR - R ATED

THE BEST HOTEL IN

A SIA ; R ATED 4 TH IN THE

W ORLD

BEST HOTEL BY

C ONDÉ

N AST T RAVELER , R EADERS ’ C HOICE A WARDS 2008 POLL

S EPTEMBER - 2 0 0 9

the conservation of nature and of cul-

to fulfilling the job description of a desk

tural heritage.

clerk but sought and shouldered addi-

Rai Bahadur M.S. Oberoi Founder Chairman

tional responsibilities. A few years later, when a Clarke acquired a small hotel he asked Oberoi to assist him. It was here, at

Rai Bahadur Mohan Singh Oberoi was

Clarkes Hotel, that Oberoi gained first

born on 15th August, 1898 in erstwhile

hand experience in all aspects of operat-

undivided Punjab, which is now in Paki-

ing a hotel.

stan. He was only six months old when his father died. Success and fortune did

Budding Entrepreneur

not, therefore, come easily to him. Initia-

In 1934, Oberoi acquired his first prop-

tive, resourcefulness and hard work, com-

erty, The Clarkes Hotel, from his mentor

I N 1943, M.S.O BEROI

WA S

bined with the capability to face and over-

by mortgaging his wife’s jewellery and

CONFERRED THE TITLE OF

R AI

come the most overwhelming odds can

all his assets. Four years later, he signed a

best characterise this phenomenal entre-

lease to take over operations of the five

preneur.

hundred rooms Grand Hotel in Calcutta

B AHADUR

education in Rawalpindi and moved to

demic. With his customary confidence

Lahore for his Bachelor’s degree. Shortly

and sheer determination to succeed, he

F AME

thereafter, to flee the ravages of a viru-

was able to convert this hotel into a highly

lent plague, he went to seek his fortune

profitable business venture.

India. Arriving penniless, he found a job

chased shares in Associated Hotels of In-

at a monthly salary of INR 50, as the front

dia (AHI), which owned Cecil and

desk clerk at the Cecil Hotel. Today, The

Corstophans hotels in Shimla, Maidens

Oberoi Group owns the hotel The Oberoi

and Imperial hotels in Delhi and a hotel

Cecil where the young Oberoi found his

each in Lahore, Murree, Rawalpindi and

métier.

Peshawar. In 1943, Oberoi acquired con-

C ROWN .

SERVICES TO THE

that was on sale following a cholera epi-

Over several years, Oberoi had pur-

B RITISH G OV -

ERNMENT IN RECOGNITION OF HIS

M.S. Oberoi completed his primar y

in Shimla, the summer capital of British

BY THE

HE WA S INDUCTED TO THE BY THE

H ALL

A MERICAN S OCIETY

T RAVEL A GENTS (ASTA)

RECEI VED

M AN

I NTERNATIONAL

AWARD BY THE

H OTEL A SSOCIATION (IHA), N E W YORK. HE

WA S PRESENTED THE

O RDER

T HE R EPUBLIC , F IRST C L ASS P RESIDENT

THE

E GYPT

gence displayed by Oberoi impressed

the first Indian to run the country’s larg-

Grove, the manager of the hotel. A quick

est and finest hotel chain. In the tumultu-

B USINESS A DMINISTRATION

learner, Oberoi did not restrict his efforts

ous years just prior to Indian indepen-

THE

India, all of whom were, at one time or other, guests at his hotels.

International Pioneer Having consolidated his early ventures, Oberoi became 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 Inter Continental, in New Delhi opened in 1965. The I-Con, as

H ONORARY D OCTORATE

AND GOT

trolling interest in AHI. He thus became

acted with the would-be leaders of Free

AND

T HE W ORLD

The diligence, enthusiasm and intelli-

dence, Oberoi met and intimately inter-

FROM

I NTERNATIONAL M ANAGEMENT

C ENTRE , B UCKINGHAM , UK. N E WSWEEK THE

NAMED HIM ONE OF

E LITE W INNERS

1978.

T HE PHDCCI M ILLENNIUM IN

2000

AWARD

WAS PRESENTED IN

RECOGNITION OF HIS ENTREPRE NEURIAL AND BUSINESS SUCCESS .

I N 2001, I NDIA

THE

G OVERNMENT

ACCORDED HIM THE

P ADMA

B HUSH A N .

it became popularly known, offered facilities that no other hotel in the country matched and was India’s first luxury hotel.

S EPTEMBER - 2 0 0 9

This achievement was enhanced with the opening of the 35-storey Oberoi Sheraton in Bombay, in 1973. Oberoi was the first Indian to work in association with international 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 Hotels to significantly contribute to India’s foreign exchange earnings.

Globalisation of The Oberoi Group To place The Oberoi Group on the world map, Oberoi exported management expertise to Australia, Egypt and Singapore, where The Oberoi Group took charge of the management of existing luxury hotels. The success of Oberoi Hotels & Resorts overseas, in the face of global competition, greatly enhanced the image of The Group.

Other notable firsts were the decision to employ women in his hotels and to establish a chain of ancillary industries producing and supplying items like consumables and stationer y to ensure the highest quality. The Oberoi Group was also the first to start flight catering

Today, Oberoi Hotels & Resorts in Indonesia, Egypt, Mauritius, Saudi Arabia and India add value and distinction to

A L AL AOUI W ISSAM ,

erate 27 hotels and three cruisers in these five countries.

Executive Officer of EIH Limited, the flag-

reputed airlines.

ship company of The Oberoi Group. He

Oberoi realised that the hotel and hos-

is also the Chairman of Oberoi Hotels

pitality business is greatly dependent on

Private Limited, the major shareholder of

travel agents, a vital element in the dis-

EIH Limited. Popularly known as “Biki”,

tribution chain. Therefore, he decided to

Oberoi is the son of late Rai Bahadur M.S.

establish his own travel agency. Mercury

Oberoi, the founder of The Oberoi

Travels, part of The Oberoi Group, ranks

Group.

converted old and dilapidated palaces, historical monuments and buildings into magnificent hotels such as The Oberoi Grand in Calcutta, the historic Mena House in Cairo and The Windsor in Australia. It was, in fact, in the face of severe opposition that the State Government of Victoria awarded Oberoi the lease of The Windsor,

heritage

building

Melbourne. He personally supervised the restoration of the hotel to its original grandeur and later acquired it. The Oberoi Cecil in Shimla, built in the early 20th century, was reopened in April 1997 after extensive and meticulous renovation.

THE

OF THE IN RECOGNI -

TION OF HIS CON TRIBUTION TO

I NDO -M OROC -

TOURISM AND TO

REL ATIONS .

CAN

P.R.S. Oberoi P.R.S. Oberoi is the Chairman and Chief

With vision and imagination, Oberoi

P.R.S.O BEROI

than 12,000 people worldwide and op-

flight meals of international quality to

India.

AWARDED

M OROCCO

G RAND O FFICER

Mumbai, Cochin and Chennai, provide in-

amongst the leading travel agencies in

M OHAMMED VI

their host countries; they employ more

operations in India, in 1959. The Oberoi Flight Ser vices, located in New Delhi,

I N 2001, H IS M A JESTY K ING

6 TH I NTERNATIONAL H OTEL S

THE

I N VESTMENT F ORUM

B ERLIN

HONOURED HIM WITH THE

L IFE TIME A CHIE VE -

PRESTIGIOUS

A WARD

MENT

M ARCH 2003.

I N J ANUARY 2004,

S PECIAL A WARD

CONFERRED A THE

HE WA S

D EPARTMENT

T OURISM .

In addition to providing leadership for the management of luxury hotels in sev-

I N O CTOBER 2005,

eral countries, Oberoi has been instru-

I N VESTMENT C ONFERENCE A SIA P ACIFIC (HICAP), HIM WITH THE MENT

P.R.S.O BEROI THE

H OTEL

HONOURED

L IFE TIME A CHIE VE -

A WARD

C ONFERENCE

THE

AT ITS ANNUAL

H ONG K ONG . WAS

CONFERRED

L IFE TIME A CHIE VEMENT

A WARD

AT THE

CNBC T V 18

I NDIA B USINESS L EADER A WARDS 2007. I N J ANUARY 2008, H E AWARDED THE

WA S

P ADMA

V IBHU SH A N .

S EPTEMBER - 2 0 0 9

mental in pioneering the development

ering products and ser vices which en-

of the new Oberoi hotels and resorts.

able it to exceed their expectations. They

The “Oberoi” brand has come to repre-

will always demonstrate care for custom-

sent fine luxury hotels.

ers through anticipation of their needs,

Oberoi is credited with placing Oberoi

attention to detail, distinctive excellence,

hotels on the international luxury travel-

warmth and concern.

lers’ map with the opening of several new

The Group strives to

luxury hotels in important locations, thus redefining architectural and design stan-

Be a responsive organisation where de-

dards in luxury hospitality. A key aspect

cision making is encouraged at each

of this is the development of hotels that

level and which accepts change. An

reflect their environment.

organisation that is committed and re-

It is Oberoi’s firm belief that people are the most valuable asset of any

sponsive to its guests and other stakeholders.

L IFE TIME

RECEIVED THE

A CHIE VEMENT A WARD

AT THE

S OUTH A SIA T RAVEL & T OURISM

organisation. Recognising the importance

Have a multi-skilled workforce, which

of quality in hospitality management,

consists of team players who have

H OTEL I N VESTMENT C ONFERENCE

Oberoi established ‘The Oberoi Centre

pride of ownership in translating the

– S OUTH A SIA

of Learning and Development’ at New

organisation’s vision into reality.

E XCHANGE (SATTE)

A PRIL 2008.

I N A UGUST 2008, H E

Delhi in 1966. Today, this institution is

Be an organisation where people are

considered amongst the best in Asia. As

nurtured through continues learning

PRESENTED WITH THE

a member of the World Wide Fund for

and skill improvement, and are re-

A CHIE VEMENT A WARD

Nature, Oberoi is committed to the con-

spected, heard and encouraged to do

servation of the environment.

their best. Oberoi is recognised as best

Above all, Oberoi is aware of the need to constantly promote quality in ever y

B USINESSWORLD -NID S CHOOL

practice for training and developing its

sorts have received numerous interna-

tures, problems and situations and can

THE

tional awards. Commenting on the chal-

use its experiences to enrich the local

C OMMERCE

lenging journey, Oberoi states, “We live

employees whether in India or over-

in a world that is changing rapidly;

seas.

changes in tastes, expectations and

See the world dotted with hotels of

needs. The challenge always is to be able

The Oberoi Group, in strategic com-

to anticipate these changes and have the

mercial and resort locations.

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.”

Incorporate user-friendly technology en-

hancing value for customers and help-

FROM

A SSOCIATED C HAMBERS

S OCIETY

AND

I NDUSTRY

OF AND

I NDIAN L AW F IRMS

S EPTEMBER 2008. I N N OVEMBER 2008, H E CONFERRED THE MENT

A WARD

WAS

L IFE TIME A CHIE VE AT THE

E RNST &

Y OUNG E NTREPRENEUR

OF THE

Y EAR A WARDS .

more accessible. Be an organisation which is conscious

of its role in the community, support-

B USINESS I NDIA ADJUDGED

ment from within the local community. to the environment, using natural products and recycling items, thus ensur-

in the hospitality industry by understand-

ing proper use of the diminishing natu-

ing its guests, and designing and deliv-

ral resources.

H IM

OF THE

ing social needs and ensuring employ-

The Oberoi Group aims at leadership

B USINESS L EADER A WARD

ing personnel by making information

Be an organisation which is committed

The Organisation

(N ATIONAL

O UTSTANDING

RECEIVED THE

that has been exposed to different cul-

exclusive, welcoming yet discriminating,

AT THE

B RILLIANCE A WARDS .

der his leadership, Oberoi Hotels and Re-

hospitality industry to be accessible yet

L IFE TIME

people. Create a more multinational workforce

a time as is possible. It requires us in the

WA S

D ESIGN ) D ESIGN

segment of the hospitality industry. Un-

ability to meet new demands in as short

4 TH

AND THE

HE FIRST THE

THE

MAGA ZINE

B USINESSMAN

Y EAR 2008.

WA S HONOURED WITH THE

H ALL

F AME A WARD

H OTEL I N VESTMENT F ORUM

I NDIA (HIFI)

F EBRUARY 2009.

S EPTEMBER - 2 0 0 9

Building Summit In light of the current economic climate it makes refreshing news to learn of a company that has endured a number of obstacles since it’s inception in 1934 and remains steadfast even to this day. The company is none other than Everest Industries Ltd.

EVEREST INDUSTRIES LTD, THE PIONEER OF THE FIBRE CEMENT BUILDING PRODUCTS WAS INCORPORATED IN MUMBAI IN APRIL 1934 WITH TWO SHAREHOLDERSTURNER & NEWALL, UK AND C P CEMENT CO. LIMITED, INDIA. C P CEMENT LATER MERGED WITH OTHER COMPANIES TO FORM ASSOCIATED CEMENT COMPANIES LIMITED (ACC) IN 1936.

S EPTEMBER - 2 0 0 9

Everest is celebrating 75 years of pio-

ultra modern plant was set up in Roorkee

The anxious moments of uncertainty

neering the complete building solutions

and later in 2008 a pre-engineering steel

were laid to rest with ACC taking over

approach; following a vision to become

building plant was set up, at the same

the company operations and owning all

India’s deepest penetrated Housing and

location in Roorkee.

responsibilities.

Building Solutions provider, and deliver

The company saw several changes in

impeccable building solutions across In-

terms of its ownership. In 1989 Turner &

dia with strength, speed and safety. For

Newall of United Kingdom sold their

ACC right from the inception had 26%

the last 7 decades, Everest has truly pro-

shareholding to Eternit Group of Belgium

stake in EIL. This was increased in Febru-

vided its customers with great building

and the name was changed from Everest

ary 2002 to 76% thus acquiring the Eternit

solutions. Everest Industries Limited (EIL)

Building Product s Limited to Eternit

Group shareholding.

celebrated its 75th year of the company’s

Everest Limited.

formation on 3rd April 2009.

ACC take over

Thus EIL became an ACC subsidiary and

The shareholding pattern was in favour

M L Gupta, President (Corporate Affairs)

EIL started its journey in the year 1934,

of Eternit which had a majority owner-

of ACC became the Managing Director

in pre-independent India as a joint col-

ship. However ACC continued to hold 26%

with Manish Sanghi, Director Marketing,

laborative effort between a European

of equity in the company.

being inducted as a whole time director on the board.

company and an Indian company. It was an eventful journey for the organization

Intense Turmoil

Turn Around Initiatives

through these seven and a half decades.

In 2001 the Eternit Group of Belgium

These long formative years were complete

decided to quit their Indian operations.

The industry had scrapped the exist-

with innovation, achievement s and

This created a severe uncertainty for the

ence of EIL. The task was to bounce back,

growth.

Everest group.

and meet the shareholders expectations.

The company also had to go through some difficult times and at one point of time its very existence was at stake. But

ACC had a hard task to work with, for EIL employees’ motivation, moral boosting and regaining their faith.

the company not only survived but also emerged as a winner to celebrate its platinum jubilee. One of the important aspects contributing to this stupendous achievement of the company has been that it has, ever since its inception, been professionally managed. EIL, the pioneer of the fibre cement building products was incorporated in Mumbai in April 1934 with two shareholders Turner & Newall, UK and C P Cement Co. Limited, India. C P Cement later merged with other companies to form Associated Cement Companies Limited (ACC) in 1936. The company had set their first plant in Kymore in Madhya Pradesh in 1934 followed by the second plant in Mumbai in 1937, third in Kolkata in 1938 and fourth in Coimbatore in 1953. In 1995, the most modernized plant was set up in Nashik. Subsequently the plant in Mulund in Mumbai was closed. In the year 2007, an

M. L. Gupta, Managing Director, Everest Industries Limited.

S EPTEMBER - 2 0 0 9

The complete system was at standstill and they had to de-bottleneck the pro-

ment s in Greenfield and Brownfield projects.

cesses to yield best output with the least

ACC had empowered the top manage-

cost. EIL had lost price premium position

ment of Everest Industries Limited to take

and market share.

all decisions in the larger interest of the

In line to achieve the lost moral, the

company. Due to this the company be-

address of T M M Nambiar, retired Man-

came far more assertive and quick in the

aging Director of ACC and Chairman of

market place. Further the brand value of

Everest Industries Limited during his first

ACC helped immensely in creating trust.

interaction of EIL employees said, “All the

Towards the close of 2005 the Com-

uncertainties are left behind us now, ACC

pany once again changed hands, when

is with you and we are going to stay in

ACC was taken over by Holcim of Switzer-

this business. We have invested in EIL with

land and decided to quit the businesses

the long term perspective.”

that were considered not significant from

While in his first address to EIL management team, Gupta, Managing Direc-

The entr y of Everest Finvest Ltd has made brand Everest a vast and highly di-

seven days full capacity to produce the

versified building solutions brand.

the Everest price premium position.”

nings in the form of corrugated roofing fessional management, offers a distinguished array of products and solutions

still continued to be rated synonymously

like wall solutions, floor solutions, ceiling

to the best quality and services in the

solutions, cladding solutions, door solu-

specified and end user fraternity.

tions and Pre Engineered Buildings.

EIL core competence lies in the Market-

Today Everest provides building prod-

ing & Sales and Production Team enriched

ucts and building solutions for housing,

with the experience and expertise in sell-

commercial and industrial sectors in over

ing Everest products, produced in their

15 countries. In India, they distribute their

most modern plants comparable to the

products across 1,00,000 villages and

best in the world.

600 cities, through 5 state-of-the-art fa-

manufacturing facilities could cover the

cilities, 5000 outlets, 35 sales depots and 14 offices.

entire national footprint. The strength

Current accreditations awarded by re-

and loyalty of its 5000 dealers has fur-

nowned associations include IGBC and

ther compounded to strengthen the dis-

LEEDS India.

tribution capabilities of EIL.

Everest is specified on countless

The acquisition by ACC seemed to have

projects across the country from Kochi

a profound influence on the fortunes of

to Amritsar, in diverse applications as

the company. It turned the corner and

varied as the Pre Engineered Buildings,

was making fresh investments to boost

Roofing Projects, Acoustic Ceilings and

production.

Pre Fabricated Buildings.

The company’s next step was to en-

A policy of continuous investment in

large its market share and make invest-

R&D has allowed Everest to remain dy-

M ADHYA P RADESH 1937 S ECOND

MANUFACTURING FACILITY

ESTABLISHED IN

M UMBAI

1938 T HIRD

MANUFACTURING FACILITY

ESTABLISHED IN

sheets, today, under a very able and pro-

was its brand “Everest”. Brand Everest

K YMORE

ESTABLISHED AT

A brand which had its humble begin-

The undisputed core strength of EIL

Moreover the strategic location of

MANUFACTURING FACILITY

taken over by Everest Finvest Limited.

the plants round the clock; 24 hours,

Marketing has to sell it all, maintaining

F IRST

the point of Management. EIL was then

tor stated, “Manufacturing has to run all

best and consistent quality product and

1934

K OLK ATA

1953 F OURTH

MANUFACTURING FACILITY

ESTABLISHED AT

P ODANUR

C O IMBATO R E 1981 F ULL

R&D

FLEDGED

PILOT PL AN T IN

CENTRE WITH

B ANGALORE

FOR

Q UALITY U PGRADING . 1992 C OMMENCED

COMMERCIAL PRO -

DUCTION OF FLY ASH BASED P RO DU CT S

1993 L AUNCHED E NVIRONMENT E-B OARD

FRIENDLY

PRODUCTS

1994 C OMPANY ’ S

MOST

MODERN

MANUFACTURING FACILITY WA S ESTABLISHED AT

L AKHMAPUR

N A S HIK .

S EPTEMBER - 2 0 0 9

namic and adjust to new market s

teresting balance of engineering prow-

through product extensions.

ess, superior aesthetics and efficient

“Everest firmly believes that by adopt-

project management.

ing a proactive approach, particularly in

Methods and materials have evolved

seeking business overseas, the company

in variety and efficiency. No customer re-

can attain new heights,” said Gupta.

quirement, however unique, can be con-

Everest Pre-Engineered Steel Buildings

sidered impossible today. Such is the power of the modern building technique. Pre-Engineered Steel Buildings have

Everest Industries Limited has forayed

revolutionized how industrialists and ser-

into Pre-Engineered Steel Buildings (PEB).

vice providers look at building and con-

A wonder of modern technology, PEB

struction.

have revolutionized the very concept of industrial, commercial and residential buildings.

2005 A SBESTOS

Gupta explains, “The entire building is custom-designed as per customer speci-

PRODUCT

H ITECH

fications and requirements, using ad-

Everest now offers Pre-Engineered

vanced engineering software. Then, the

Steel Buildings from their state-of-the-art

entire building is produced in the factory

plant at Roorkee commissioned in July

using high-precision cutting and weld-

2008.

ing machines. Finally, the components are

FREE ROOFING WAS L AUNCHED

2006 P REFABRICATED E VEREST

SOLID

WALL PANEL S L AUNCHED FOR PARTITIONS , WALLING AND OTHER A PP L I C AT I O N S .

From basic thatched-roof hutments to

shipped to customer factor y site for

single-storey stone structures to modern

speedy erection, supervised by Everest’s

high-rise mar vels to gargantuan pillar-

team of professional project managers.

less factories, building design and con-

The entire process saves time and enables

struction has continued to innovate and

faster project completion. It prevents

TURING FACILITY COMMENCED

evolve over time, the world over. Even

unexpected costs and on-site problems.

TRIAL PRODUCTION AT

then, a lot more needs to be done due

Using an Everest Pre-engineered Build-

to increasing globalization, tighter dead-

ing ensures long-lasting strength, speed

lines and stringent governmental policies.

and safety.”

Gupta states, “Today, building design

Everest PEB offer many advantages over

and the methods and materials of con-

conventional structures like:

struction need to be more efficient, highly

No hassles of hiring contractors or ar-

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.” On the other hand, in the wake of global warming, governments and environmental activists are forcing industries to

ranging raw material No on-site issues as entire construc-

tion takes place in the factory Complete logistics and project man-

agement

200 times faster than conventional

building methods Highly resistant to seismic shocks

ing construction goes in the same direc-

Green buildings, as wood isn’t used in

flexible building solutions are the need of the hour. Building design and execution is an in-

T HE

COMPANY ’ S FIFTH MANUFAC -

B HAGWANPUR

R OORKEE

FOR

MANUFACTURING OF PRE FABRICATED SOLUTIONS BA SED ON LIGHT GAUGE STEEL .

2008 D IVERSIFICATION ENGINEERED

INTO PRE -

STEEL

BUILDINGS

(PEB); C OMPANY ’ S

SIX TH

MANUFACTURING FACILITY AT

B HAGWANPUR

30% lighter than other structures

go green. It necessarily dictates that buildtion. Hence, green, clean, fast, durable,

2007

R OORKEE

2009 E VEREST

GETS

IGBC

ACCREDITA -

TION FOR FIBRE CEMENT BOARDS WHICH CON TRIBUTE TO

LEED-

INDIA

any stage of manufacturing Energy efficient, as they provide bet-

ter thermal insulation Everest Pre-Engineered Steel Buildings

S EPTEMBER - 2 0 0 9

are the fastest systems of industrial con-

into PEB last year, Everest has already

(West Bengal), Tristar Infrastructure

struction today. These buildings are

bagged 69 projects to provide more than

(Indore, Mumbai), Ramkey Infrastructure

100% custom-built as per the exact speci-

85 buildings worth over Rs.85 crore.”

(Hyderabad), Vodafone (Punjab), Baxter

fications using computer-aided design,

These buildings that range from a

(Haryana, Chennai) Ericsson (Punjab) and

simple warehouse to a huge industrial

Jain Irrigation (Rajasthan, Gujarat). Cus-

Everest can construct buildings in only

plant with over 280 MT cranes, have been

tomers and consulting Architects have

33% of the time that it takes to construct

built inside the Everest Pre-Engineered

commended the company for timely

a conventional building. This means

Steel Building factory and installed on site.

completion.

and with the optimum use of steel.

200% faster construction!

Today, the company’s product portfo-

Everest is perhaps the only company in

lio comprises Steel Buildings, Ceilings,

this industry that not only offers design

Walls, Floors, Cladding, Doors and Roof-

and manufacturing of complete range of

ing Solutions.

pre-engineered buildings but also pro-

The company has manufacturing facili-

vides on-site installation services of the

ties in Kymore (Madhya Pradesh), Kolkata

complete structure.

(West Bengal), Coimbatore (Tamil Nadu),

Everest manufactures high-quality steel frames and metal claddings in its factory

Nashik (Maharashtra) and Bhagwanpur (Uttaranchal).

and transports them to the site for quick

The company has a state-of-the-art

erection, thus saving considerable on-site

R&D centre in Nashik, which constantly

work.

works on product up-gradation and de-

The use of steel frames also reduces

velopment of new products.

the structural weight by up to 30%, re-

The latest venture of EIL, Everest Steel

sulting in fast and standardized erection

Buildings Division consists of an experi-

process.

enced Design team in New Delhi and a

Future Vision “The company is poised to gain from opportunities arising from the growth of the Indian economy. For 75 years Everest has been a leader in the roofing business covering more than 1 billion sq m of roofing in India,” said Gupta. Everest now offers a wide range of ready-to-install products for the building industr y and custom made pre-engineered steel building for the industrial, commercial, and logistics sectors. These products and services provide strength and safety and can be executed speedily, which is an important requirement in modern project execution.

Gupta said, “To provide end-to-end

dedicated team of Sales, Marketing and

PEB solutions, Everest has set-up an ul-

Project Executives all over India. In the first

tra-modern manufacturing unit in

9 months since commissioning, we have

Nurturing the environment and uplift-

Bhagwanpur, built with an investment of

successfully designed, manufactured and

ing the social standards of the region in

Rs.90 crore. This plant can manufacture

erected factor y sheds, logistic parks,

which people operate are important con-

up to 60,000 MT of steel buildings per

warehouses and commercial buildings in

cerns. Everest undertakes various projects

annum. The capacity can be further ex-

all corners of the country. Our clients in-

through the course of the year.

panded to 100,000 MT. Since its foray

clude Walmart (Amritsar), McNally Bharat

Corporate Social Responsibility

These include tree plantation drives, medical checkups for the underprivileged, blood donation camps and regular educational and medical facilities. They provide assistance to NGOs during local crisis. At Bhagwanpur, where the new plant is situated, Everest has established an NGO to generate rural employment for women. The Everest Award of Excellence established in many leading architectural colleges across India continues to recognize and reward outstanding performance by architectural students, who will shape the future of India’s infrastructure growth.

S EPTEMBER - 2 0 0 9

The Fitness Regime They have been through several ups and downs during this long journey of 75 years. From 1932 till 1951, they had only one branch, which they had to shift almost 14 times due to varied reasons.

ESTABLISHED IN 1932, TALWALKARS BETTER VALUE PVT LTD (TBVF), COMMONLY FAMOUS AS TALWALKARS, IS INDIA’S LARGEST CHAIN OF HEALTH CENTRES. IT HAS ABOUT 72 BRANCHES IN ABOUT 22 CITIES ACROSS THE COUNTRY.

The history of TBVF can be traced to

perceived not as a meeting place for bois-

is to reach more people by going near

V.R Talwalkar, a wrestler of local repute,

terous bodybuilders, but as a health cen-

them. We will essentially be looking at

who started the Ramakrishna Physical

tre where customer health priorities are

tier-II & III cities with few models in major

Culture Institution, after his father in 1932.

managed with sensitivity and care.

cities going by the area,” said Talwalkar.

In 1939 the name was changed to New

“We have been through several ups

The company is also looking at expan-

Physical Culture Home. Soon, Talwalkar’s

and downs during this long journey of

sion through the franchisee model. It cur-

son, Madhukar Talwalkar joined him.

75 years. From 1932, when we started, till

rently has about 10 franchisees. “We are

Years later, Madhukar quit his job as a

1951, we had only one branch, which we

thinking about going for the franchisee

tex tile engineer and set up the first

had to shift almost 14 times due to varied

model in a full-fledged way especially for

Talwalkars Gymnasium in 1965 on Linking

reasons. It was in 1951 when we got es-

the miniature model of our concept. The

Road in Bandra, another Mumbai sub-

tablished and in 1962, our growth actu-

investment could range from Rs 40 lakhs

urb. Talwalkars’ phenomenal growth can

ally started. From 1962 to 1985, we have

to Rs 1 crore depending upon the kind

be attributed directly to the trust their

been stabilizing ourselves and building the

of facilities that the miniature model can

customers have, and the benefits they

brand which has now become synony-

be provided by the franchisee,” said

derive from their expert advice,

mous to fitness. During the last 7-8 years

Talwalkar.

personalised super vision, on-going fa-

we have started to expand,” said

TBVF also has training academies in

cility upgrades, result-oriented approach,

Madhukar Talwalkar, Chairman of the

Pune and Mumbai with specified certifi-

and above all from Talwalkars’ immense

TBVF Group.

cation programme of certain duration.

know-how and experience in these 75

Today the company which has a turn-

TBVP is now looking at expanding its

over of Rs 150 crores is looking at a smaller

presence by adding about 25 branches.

Madhukar gave the business a new di-

version of fitness centers. “We are look-

By March 2010, Talwalkar’s is sure of open-

rection by imparting a scientific, disci-

ing at providing affordable fitness

ing 16-18 branches. The company is also

plined and customer-friendly perspective

through miniature models in specific ar-

looking at going for an IPO by in 2010.

to the fitness and health regimes offered

eas with small investments. While the

at the gyms. Today, Talwalkar gyms are

quality will remain undisturbed, the idea

years of existence.

S EPTEMBER - 2 0 0 9

Customer-Friendly Banking Federal Bank was the first bank to issue GDRs in the year 2006 and had launched Fed+Amrita, an online system for fixing medical consultation, health check up, and in-patient payments, from anywhere during the previous year.

BANKING IS ALL ABOUT RELATIONSHIPS AND FEDERAL BANK BELIEVES IN NURTURING LONG LASTING CUSTOMER RELATIONSHIPS BASED ON MUTUAL TRUST AND CONFIDENCE. FROM HUMBLE BEGINNINGS THE BANK ROSE TO BE A NOTED NATIONAL PLAYER WITH SUPPORT FROM ALL THE STAKEHOLDERS.

S EPTEMBER - 2 0 0 9

Federal Bank Limited was founded as Travancore Federal Bank Limited in the year 1931 in a small village called Nedumpram in Central Travancore (a princely state later merged into Kerala), under Travancore Company’s Act. Thirteen years later, in 1944, K P Hormis and his close relatives /friends took over the controlling interest in the bank. Its registered office shifted to Aluva, in Ernakulam district of Kerala. With the opening of its first branch at Aluva, Travancore Federal Bank commenced its business. In March 1947 the name of the bank was changed to Federal Bank Limited.

Tech-Savvy Bank Better processes, products and services could be made available only by adopting latest technology. Federal Bank has been in the forefront to accept this reality and Bank has a vibrant technology team to cater to the needs. Bank had developed an in-house software to take care of the most of the modern banking needs in mid 1990s. In the year 2000 Federal Bank started the Any Where Banking requirements of the investor community, Bank launched the Depository Services, in association with NSDL. In the same year,

After a gap of 12 years i.e. in 1959, the

Internet Banking ‘FedNet’ was launched,

bank was licensed under Sec. 22 of the

one among the first banks in India to do

Banking Companies Act 1949, after which

so.

it floated several kuries and launched various deposit schemes. In 1964, it took over the liabilities of Chalakudy Public Bank Ltd. (Chalakudy), Cochin Union Bank Ltd. (Trichur) and Alleppey Bank Ltd. (Alleppey).

necting Regional Offices at Mumbai, Bangalore, Chennai, Ernakulam and Chennai

Puthenpally (1965) and Marthandom

switch for networking all the ATMs. Soon

Commercial Bank Ltd, Trivandrum (1968).

enough, it introduced FedAlerts and

Federal Bank became a Scheduled Bank

FedMobile, with real-time transaction alerts and customizable options.

came an authorized dealer in Foreign

Two years later, a call centre was set up

Exchange. Bank went for organic growth

by the bank, attached to the Systems and

in 1970s by adding number of branches.

Technology Department, and co-branded

In 1972 it became an authorized dealer

credit cards were launched, in associa-

in Foreign Exchange. In 1984, Federal

tion with ICICI Bank. Not much time later,

Bank set up an Agricultural Finance De-

Federal Bank claimed the distinction of

partment in its head office, improving its

becoming the first traditional bank with

performance in the field of agricultural

networked branches, having 100 percent

and priority sector lending.

connectivity. The Bank’s ATM card also doubles as an International Visa Debit Card enabling

Federal Bank has 643 Branches and

the Bank’s customers to use the card at

670 ATMs spreading all over India. In the

any of the networked ATMs round the

year 2006 Bank has acquired Maharashtra

world and pay for shopping at retail es-

based Ganesh Bank of Kurundwad. Bank

tablishments.

WAS INCORPORATED

WITH AN AUTHORISED CAPITAL OF RS .

5000

N EDUMPURAM .

1944 S HRI K P H ORMIS , ASSOCIATES

AND HIS CLOSE

OBTAINED

CONTROLLING

B ANK .

INTEREST IN THE

all the branches of the bank were fully Federal Bank started the installation of

added 166 branches in the last 4 years.

B ANK L IMITED )

F&I with Head Office. The following year,

took over St.George Union Bank Ltd.

is on a higher growth trajectory and has

T RAVANCORE F EDERAL

ERST WHILE

With the start of 2001, the bank saw

computerized (using FedSoft). In 2002,

Organic growth

T HE F EDERAL B ANK L IMITED ( THE

the launch of Wide Area Network, con-

In the next five years, Federal Bank

in the year 1970. Two years later, it be-

1931

(ABB) service, in Bangalore. To meet the

1945 P AID TO

UP CAPITAL WAS INCREA SED

R S .71,000.B OARD

D IRECTORS AND FRESH

WA S

RECONSTITUTED

A RTICLES

TION ADOPTED .

A SSOCIA -

T HE R EGD .O FFICE

WAS SHIFTED TO

A LUVA .

1946 T HE B ANK

OPENED ITS SECOND

BRANCH AT

A NGAMALLY .

1964 T HE B ANK

EMBARKED ON MA SSIVE

TAKE OVER BIDS , ACCELERATING ITS GR O W T H .

1965 T HE S T .G EORGE U NION B ANK L TD . P UTHENPALLY

WA S MERGED WITH

THE

B ANK .

S EPTEMBER - 2 0 0 9

Products & Services

Banks to have an e-shopping payment

Federal Bank launched its International

gateway.

Debit Cards in the year 2004. The same year, it also provided Real Time Gross

Reservation (with the first kiosk at the Marine Drive branch of Kochi). Bank has a host of products and services leveraging on the strength of technology. Bank has broad range of Savings Bank, Current Account and Term products in the liability side and flexible retail and corporate asset products.

Customer Convenience Federal Bank has played a pioneer role in developing and deploying new technology assisted customer friendly products and services. A few of its early moves are cited below:

First traditional Bank to introduce Mobile Alerts and Mobile Banking service.

Settlement (RTGS) facility in all the branches, followed by Online Railway

First and only bank among the older

First Bank to implement an Express Remittance Facility from Abroad

First in India to provide RTGS facility in all its branches. The Bank has also the distinction of

being one of the first banks in the coun-

1968

try to deploy most of these technology

T HE M ARTHANDOM C OMMERCIAL

enabled services at the smaller branches including rural and semi-urban areas.

B ANK L TD . T RI VANDRUM AMALGAMATED WITH THE

Banking Partner of NRIs Federal Bank continues to be the favourite choice for NRIs as is evidenced from the fact that about 20% of its de-

WA S

B ANK .

1972 T HE B ANK D EALER

BECAME AN

F OREIGN E XCHANGE .

posits come from the NRI segment. Their

A UTHORISED

1973

1977

short term deposit has been rated by

First, among the traditional banks in

CRISIL and awarded a high score of P1+.

THE BANK ADOPTED MA SSIVE

the country to introduce Internet Bank-

The Bank has correspondent Bank ar-

BRANCH E XPANSION AND GROW TH

ing Service through FedNet

rangements with Banks in most of the

First among the traditional banks to

major cities in the world. Bank has

have all its branches automated.

opened its overseas Representative Of-

First and only Bank among the tradi-

fice at Abu Dhabi, U.A.E in January 2008.

tional Banks in India to have all its

This office is acting as the gateway for

branches inter-connected

enhancing the Bankâ&#x20AC;&#x2122;s operations among

First Electronic Telephone Bill Payment in the country was done through Federal Bank.

the Indian Diaspora in the Gulf Region. SWIFT connectivity ensures speedy transfer of funds to accounts maintained

ORIENTED

O PENED 53 AND

T HE

enabling Non Resident Indians in the Gulf

BRANCHES IN

1975

1976.

BRANCHES IN

PAID UP CAPITAL WAS IN -

CREASED TO

1977

R S .100

L ACS IN

FROM A POSITION OF

R S .10.66

L ACS .

1989

with the Bank. In addition, the Bank has an Express Remittance Facility (FEDFAST)

PROGRAMMES .

C OMMENCED M ERCHAN T B ANKING O P ER AT I O N S .

to effect quick transfer of funds to their accounts. FedFast when combined with

1992

the Mobile Alert facility enables the customer to not only receive quick credit of his remittance in the account but also to receive instant confirmation of the credit

D EPOSITS

M ILLION .A DOPTED

PROFIT

SECTOR

BANKING A S ITS SLOGAN .

on their mobile phone anywhere in the

1994

world, through SMS.

Insurance Business

R S .10,000

CROSSED

T APPED

THE

C APITAL M ARKE T

WITH A PUBLIC ISSUE IN

Bank in association with IDBI Bank and M Venugopalan, MD&CEO, Federal Bank Limited

Fortis Insurance International N.V floated

M A RCH ,1994.

S EPTEMBER - 2 0 0 9

a joint venture company for promoting

Life Insurance business. This company “IDBI Fortis Life Insurance Company Ltd.,’

(3.80 % as on 30th June 2008)

is offering a bouquet of customer friendly products. In addition to distributing the life products of IDBI Fortis, Bank

uting general insurance products.

Return on Average Assets increased from 0.84 % to 1.40 %

Earnings Per Share (annualized) increased to Rs. 31.90 from Rs.15.94

has an arrangement with United India Insurance Company Limited for distrib-

Net Interest Margin (NIM) at 3.31 %

Book Value per share increased from Rs. 233.51 to Rs. 260.90 Total business of the Bank reached Rs.

Subsidiary

55012 Crore, showing an increase of 16.6

Bank’s has a wholly owned subsidiary,

% from the corresponding period of the

“Fedbank Financial Ser vices Limited”

previous fiscal. Total deposits increased

which is engaged in financial services.

by 18.03 % from Rs.26893 Crore as on

FinancialsFinancials at Rs. 136.38 Crore, up by 100.12 % y-o-

Crore to Rs.24601 Crore, during the same

y over the Net Profit of Rs. 68.15 Crore

period.Net Advances went up by 14.72

recorded for the first quarter of last fiscal

% to Rs. 23271 Crore as on 30th June

that ended 30th June 2008. Total income

2009 from Rs. 20285 Crore as on 30th

for the first quarter ended 30th June 2009

June 2008. The retail advances of the Bank

increased to Rs. 1021.79 Crore from Rs.

grew by 24.3 % on y-o-y basis and

841.33 Crore, as on 30th June 2008,

reached Rs.7382 Cr forming 31 % of the

showing an increase of 21.45 %. Total

gross advances. The advance to priority

business of the Bank reached Rs.55012

sector was at Rs.9056.10 Crore as on 30th

Crore. The Net Interest Margin of the Bank

June 2009, the share of priority sector

for the quarter ended June 2009 is at 3.31

lending being 40.4 4 % of Net Bank

% as against 3.80 % in June 2008. The

Credit. Lending to Agriculture sector was

Net NPA, Return on Average Assets and

at Rs. 2609.98 Crore as on 30th June

Capital Adequacy Ratio were at 0.29%,

2009.

0.84% and 20.74% as on 30th June 2008.

Years AheadYears Ahead

30th June 2009 vs quarter ended 30th

drive to take care of its organic growth

June 2008:

plans and this year, we plan to add

Advances increased by 14.72% from Rs. 20285 Cr to Rs. 23271 Cr

Deposits increased by 18.03% from Rs. 26893 Cr to Rs. 31741 Cr

around 1000 personnel in our ranks.

ALL BRANCHES LOCATED IN THE

B ANGALORE T HE B ANK

METRO .

COMMENCED

I NTERNET

B ANKING ‘F ED N ET ’. 2001 A LL 412

BRANCHES FULLY COMPUT ERISED

2002 I NTRODUCES F ED A LERTS , F ED M OBILE ,

AND

ANOTHER FIRST OF ITS

KIND SERVICE AMONG TRADITIONAL

I NDIA .

BANKS IN

2004 B ECOMES

FIRST TRADITIONAL BANK

TO NET WORK ALL ITS BRANCHES AND ATTAIN

100%

CONNECTIV ITY .

which 27 will be outside Kerala. The Bank

I MPLEMENTED C ORE B ANKING

has identified SME as its core segment gional Hubs at important centres to fa-

CONNECTING

2007

30.6.2008)

(20.74% as on 30.06.2008))

B ANGALORE

its network during this calendar year, of

and is in the process of establishing Re-

Capital Adequac y Ratio at 19.11%

(ABB)

Another 30 branches will be added to

Gross NPA at 2.65 % (2.64% as on

Net NPA reduced to 0.29% from 0.46%

S TARTED A NY W HERE B ANKING

Going forward the Bank is targeting a Bank has already started a recruitment

2000

total business of Rs.1 Trillion by 2011. The

Per formance for the quarter ended

INAUGURATED AT

E R A N A K UL A M

30th June 2009, while Retail Customer deposits increased by 33 % from Rs.18519

30th June 2009, compared to 0.46%,

F IRST ATM

30th June 2008 to Rs.31741 Crore as on

The Net Profit for the first quarter was

1.40% and 19.11% respectively as on

1997

cilitate quicker loan processing and disbursal.

S OLUTION

ACROSS ALL BRANCHES

2008 S UCCESSFULLY

COMPLE TED

1:1

R IGHTS I SSUE

S EPTEMBER - 2 0 0 9

Touch of Cure Cipla is an acronym for Chemical, Industrial & Pharmaceutical Laboratories which Khwaja Abdul Hamied, the founder set-up in 1935

CIPLA, ORIGINALLY FOUNDED BY KHWAJA ABDUL HAMIED AS THE CHEMICAL, INDUSTRIAL & PHARMACEUTICAL LABORATORIES IS A PROMINENT INDIAN PHARMACEUTICAL COMPANY, BEST-KNOWN OUTSIDE ITS HOME COUNTRY FOR PRODUCING LOW-COST ANTI-AIDS DRUGS FOR HIV-POSITIVE PATIENTS IN DEVELOPING COUNTRIES. CIPLA MAKES DRUGS TO TREAT CARDIOVASCULAR DISEASE, ARTHRITIS, DIABETES, WEIGHT CONTROL, DEPRESSION AND MANY OTHER HEALTH CONDITIONS, AND ITS PRODUCTS ARE DISTRIBUTED IN MORE THAN 180 COUNTRIES WORLDWIDE. AMONG THE HUNDREDS OF GENERIC MEDICATIONS IT PRODUCES FOR INTERNATIONAL DISTRIBUTION ARE ATORVASTATIN, AMLODIPINE, FLUOXETINE, VENLAFAXINE HYDROCHLORIDE AND METFORMIN.

S EPTEMBER - 2 0 0 9

Khwaja Abdul Hamied, the founder of

letter day in the annals of Bombay Indus-

Cipla, was born on October 31, 1898. The

tries. The first city in India can now boast

fire of nationalism was kindled in him

of a concern, which will supersede all ex-

when he was 15 as he witnessed a wan-

isting firms in the magnitude of its op-

ton act of colonial highhandedness.

erations. India has lagged behind in the

In college, he found Chemistry fasci-

march of science but she is now awaken-

nating. He set sail for Europe in 1924 and

ing from her lethargy. The new company

got admission in Berlin University as a re-

has

search student of “The Technology of

programme and with intelligent direction

Barium Compounds”. He earned his doc-

and skillful production bids fair to estab-

torate three years later.

lish a great reputation in the East. “

mapped

out

ambitious

In October 1927, during the long voy-

July 4, 1939 was a red-letter day for

age from Europe to India, he drew up

Cipla, when the Father of the Nation, Ma-

great plans for the future. He wrote: “No

hatma Gandhi, honoured the factory with

modern industry could have been pos-

a visit.

sible without the help of such centres of

He was “delighted to visit this Indian

research work where men are engaged

enterprise”, he noted later. From the time

in compelling nature to yield her secrets

Cipla came to the aid of the nation gasp-

to the ruthless search of an investigating

ing for essential medicines during the Sec-

chemist.” His plan found many support-

ond World War, the company has been

ers but no financiers. However, Dr

among the leaders in the pharmaceuti-

Hamied was determined to being “a small

cal industry in India.

wheel, no matter how small, than be a cog in a big wheel.” In 1935, he set up The Chemical, Industrial & Pharmaceutical Laboratories, which came to be popularly known as Cipla.

1935 D R K A H AMIED SETS UP “T HE C HEMICAL , I NDUSTRIAL AND P HARMACEUTICAL L ABORATORIES L TD .” IN A RENTED BUNGALOW , AT B OMBAY C ENTRAL . 1941 AS

THE

S ECOND W ORLD W AR

STARTS PRODUCING FINE CHEMI CAL S , DEDICATING ALL ITS FACILITIES FOR THE WAR EFFORT .

On October 31, 1939, the book s showed an alltime high loss of Rs 67,935. That was the last time the company ever recorded a deficit.

1952 S ETS

UP FIRST RESEARCH DIV ISION

FOR ATTAINING SELF - SUFFICIENCY IN TECHNOLOGICAL

In 1942, Dr Hamied’s blueprint for a technical industrial research institute was

CUTS

OFF DRUG SUPPLIES , THE COMPANY

DE VELOPMENT .

1960 S TARTS SECOND PL AN T AT V IKHROLI , M UMBAI , PRODUCING

He gave the company all his patent and

accepted by the government and led to

proprietar y formulas for several drugs

the birth of the Council of Scientific and

FINE CHEMICAL S WITH SPECIAL

and medicines, without charging any roy-

Industrial Research (CSIR), which is today

EMPHASIS ON NATURAL PRODUCTS .

alty.

the apex research body in the country.

On August 17, 1935, Cipla was regis-

In 1944, the company bought the pre-

tered as a public limited company with

mises at Bombay Central and decided to

an authorised capital of Rs 6 lakhs.

put up a “first class modern pharmaceu-

The search for suitable premises ended

1968 C IPL A

MANUFACTURES AMPICILLIN

FOR THE FIRST TIME IN THE COUN TRY.

tical works and laboratory.”

1972

at 289, Bellasis Road (the present corpo-

It was also decided to acquire land and

rate office) where a small bungalow with

buildings at Vikhroli. With severe import

a few rooms was taken on lease for 20

restrictions hampering production, the

years for Rs 350 a month.

company decided to commence manu-

S TARTS A GRICULTURAL R ESEARCH D IVISION AT B ANGALORE , FOR SCIENTIFIC CULTIVATION OF MEDICI NAL PL AN TS .

facturing the basic chemicals required for

1976

Cipla was officially opened on September 22, 1937 when the first products were ready for the market.

pharmaceuticals. In 1946, Cipla’s product for hyperten-

The Sunday Standard wrote: “The birth

sion, Serpinoid , was exported to the

of Cipla which was launched into the

American Roland Corporation, to the

world by Dr K A Hamied will be a red

tune of Rs 8 lakhs.

C IPL A

L AUNCHES MEDICINAL

AEROSOL S FOR ASTHMA .

1980 W INS C HEME XCIL A WARD FOR E XCELLENCE FOR E XPORTS .

S EPTEMBER - 2 0 0 9

1982 F OURTH

FACTORY BEGINS OPERA -

P ATALGANGA , MAHARASHTRA.

TIONS AT

1984 D E VELOPS Dr K A Hamied Institute for Education

and

Research

Palliative Care Science

The Cipla Centre, Warje, Pune was started on May 1, 1997. Right from

The science of taking care of the

the beginning, it was conceived as a

terminally ill through palliative care

unique model for comprehensive

does not yet form part of the medi-

palliative care. This called for team

cal curriculum in our country. Al-

effort, integrating various skills.

though there are a few institutions

Thus, in addition to a core team of

doing some very good work, the

one doctor and two senior matrons

task ahead is enormous, consid-

who underwent training at Oxford,

ering that cancer alone adds seven

UK, the Centre also sought advice

lakh terminal patients every year.

from other international experts.

If one were to count the unfortunate victims of other diseases too, the magnitude of the problem will become a little more apparent. While a lot remains to be done to reach even basic curative care to millions, extending palliative care is an even more complex task. One way to begin is to try and teach palliative care to as many doctors, nursing personnel and socio-medical workers from all over the country. This is the primary aim behind

N ATIONAL C HEMICAL L ABORA P UNE . W INS S IR P C R AY A WARD FOR DE VELOPING INDIG ENOUS TECHNOLOGY .

THE

TORY ,

1985 US FDA

APPROVES

than death. Therefore, rather than name the Centre as a hospice – which has depressing connotations – it was named a Palliative Care Cen-

C IPL A

N ATIONAL A WARD S UCCESSFUL C OMMERCIALISATION OF P UBLICLY F UNDED R&D. WINS FOR

1991 L AUNCHES

ETOPOSIDE , A BREAK -

THROUGH IN CANCER CHEMO THERAPY , AND PIONEERS MANUFAC TURE OF THE AN TIRE TROVIRAL DRUG , ZIDOVUDINE , IN TECHNO LOGICAL COLL ABORATION WITH

IICT,

tre. The focus became promoting health and enhancing life.

BULK

1988

moment one dies, one has the right emphasis ought to be on life rather

C IPL A ’ S

DRUG MANUFACTURING FACILITIES .

The centre believes that until the to live and make the most of it. The

DRUGS ,

HYDERABAD .

1994 C IPL A ’ S

FIFTH FACTORY BEGINS

COMMERCIAL PRODUCTION AT

K URKUMBH .

The Dr K A Hamied Institute for

1997

Education and Research in Pallia-

L AUNCHES TRANSPARENT R OTAHALER , THE WORLD ’ S FIRST

tive Care Science set up by the Cipla Foundation.

Cipla Palliative Care Centre

AN TI - CANCER

VINBL ASTINE AND VINCRISTINE WITH

SUCH DRY POWDER INHALER DE V ICE

S EPTEMBER - 2 0 0 9

Five years later, the company entered into an agreement with a Swiss firm for

fees received during the year 2008-09 amounted to about Rs. 2200 million

manufacturing foromycene. Dr Yusuf

Cipla’s manufacturing facilities have

Hamied, the founder’s son, returned with

been approved by the following regula-

a doctorate in chemistry from Cambridge

tory authorities:

and joined Cipla as an officer in charge of research and development in 1960. In 1961, the Vikhroli factor y started manufacturing diosgenin. This heralded the manufacture of several steroids and hormones derived from diosgenin.

Food and Drug Administration (FDA),

USA Medicines and Healthcare products

Regulatory Agency (MHRA), UK Therapeutic Goods Administration

1998

(TGA), Australia

Today

Medicines Control Council (MCC), South

Cipla has raised $140 million (nearly Rs 671 crore) through a qualified institutional placement (QIP) of shares to fund expansion and retire debt. new pharmaceutical ingredient unit in Bangalore and modernise unit s at and

Patalganga

(Maharashtra). The Rs 800 crore investment that Cipla is putting into a new active pharmaceutical ingredient (API) and formulations

Africa

1,600-2,000 crore which will be tax free.

Financial Profile Quarter ended 30 th June 2009, the Gross Sales was Rs 1339.46 crores as

COMPONENT DRUGS OF RE TROVIRAL

gary

THERAPY .

COMBINATION

1999

(PIC), Germany World Health Organisation (WHO) De-

partment of Health, Canada State Institute for the Control of Drugs,

L AUNCHES

PRE VENT THE TRANSMISSION OF

AIDS

countries.

“NO MODERN INDUSTRY COULD HAVE

C IPL A BECAME THE FIRST COM PANY , OUTSIDE THE USA AND E UROPE TO L AUNCH CFC- FREE INHALERS – TEN YEARS BEFORE PHASE OUT OF CFC. 2002

BEEN POSSIBLE WITHOUT THE HELP OF SUCH CENTRES OF RESEARCH WORK WHERE MEN ARE ENGAGED IN

FROM MOTHER TO CHILD .

2000

Slovak Republic ANVISA, Brazil Cipla products are bought by over 180

N E V IRAPINE ,

ANTIRETROVIRAL DRUG , USED TO

F OUR

STATE - OF - THE - ART MANUFAC -

TURING FACILITIES SET UP IN

G OA

IN A RECORD TIME OF LESS THAN T WELVE

COMPELLING NATURE TO YIELD HER

compared to Rs 1186.98 crores for the quarter ended 30th June 2008.

BECOMING

WORLD TO OFFER ALL THREE

National Institute of Pharmacy (NIP), Hun-

plant at a SEZ in Indore over the next two years is likely to generate sales of Rs

L AMI VUDINE ,

ONE OF THE FE W COMPANIES IN THE

Pharamaceutical Inspection Convention

The company needs funds to set up a

Kurkumbh

L AUNCHES

MON THS .

2003

SECRETS TO THE RUTHLESS SEARCH OF

compared to Rs 1170.76 crores during the

PLAN FOUND MANY SUPPORTERS BUT

L AUNCHES TIOVA, AN INHALED , LONG - ACTING AN TICHOLINERGIC BRONCHODIL ATOR FOR ONCE - DAILY

same period last year.

NO FINANCIERS.

CHRONIC

Net Sales was Rs 1325.26 crores as

Global Presence Exports for the financial year ended March 31, 2009 amounted to more than Rs. 27,500 million. Cipla exports raw materials, intermediates, prescription drugs, OTC products and veterinary products. Cipla also offers technology for prod-

AN INVESTIGATING CHEMIST.” HIS

HOWEVER, DR

HAMIED WAS DETERMINED TO BEING “A SMALL WHEEL, NO MATTER HOW SMALL, THAN BE A COG IN A BIG WHEEL.” - KHWAJA ABDUL HAMIED, THE FOUNDER OF CIPLA, IN OCTOBER 1927, DURING A LONG VOYAGE FROM EUROPE TO INDIA

TREATMENT FOR PATIENTS WITH OBSTRUCTI VE DISEASE

PULMONARY

(COPD).

2005 S ET - UP

FACILITY FOR MANUFACTURE

OF FORMUL ATIONS AT

B ADDI .

2007 S ET - UP

STATE - OF - THE - ART FACILITY

FOR MANUFACTURE OF FORMUL A TIONS AT

S IKKIM .

ucts and processes. Technical know-how/

S EPTEMBER - 2 0 0 9

Natural Health The Himalaya Drug Company is one of the first drug companies in the world to discover the first antihypertensive drug which was launched in 1934.

THE LEGACY OF RESEARCHING NATURE HAS HELPED HIMALAYA TO PIONEER AND USE MODERN SCIENCE TO REDISCOVER AND VALIDATE AYURVEDA’S SECRETS TO THE WORLD.

S EPTEMBER - 2 0 0 9

It all began in 1930 with his mother’s

being fed with a root to pacify them. The

pawned bangles. A young man Manal

plant from which this was taken is Rau-

with a very curious mind pondered the

wolfia serpentina. Fascinated by the

idea of presenting herbal medicine in a

plant’s effect on elephants, he had it sci-

contemporary form. He spent his days

entifically evaluated. After extensive re-

riding his bicycle through the forests and

search, Serpina, the world’s first anti-hy-

learning about herbs from the local heal-

pertensive drug, was launched in 1934.

ers. He knew he must scientifically prove

The legacy of researching nature forms

that herbal medicines do work. He also

the foundation of Himalaya’s operations.

wondered how to make a herbal tablet.

Himalaya has pioneered the use of mod-

He was advised to add kerosene to the

ern science to rediscover and validate

powdered herb to help the tablet keep

ayurveda’s secrets. Cutting edge technol-

its form. And he tried it too, only to

ogy is employed to create pharmaceuti-

quickly realize that he had been tricked!

cal-grade ayurvedic products. As a con-

He continued his efforts on his hand-

firmation that Himalaya is dedicated to

operated tablet-compressing machine. At

providing the highest quality and consis-

night, his shoulders would ache after

tency in herbal care, the Company was

struggling to manually produce a few

awarded an ISO 9001:2000 certification

hundred tablets, one tablet at a time.

in 2003.

Simple as it may sound, the reality was that in his time this had never been done.

Since its inception, the company has focused on developing safe, natural and

Seventy-nine years later, Himalaya has

innovative remedies that will help people

spread its wings to several parts of the

lead richer, healthier lives. Today, Himalaya

globe. With offices in Bangalore, Dubai,

products have been endorsed by over

Grand Cayman, Houston, Johannesburg,

250,000 doctors around the globe and

Riga and Singapore, it is on a roll now.

consumers in over 67 countries rely on

The vision to make Himalaya a household

Himalaya for their health and personal

name, a trusted head-to-heel brand pro-

care needs.

1930 M. M ANAL

T HE H IMAL AYA

FORMS

D RUG C OMPANY . H IS P UT

V ISION :

AYURVEDA ON PAR WITH MODERN

MEDICINE .

1934 L AUNCH

S ERPINA ,

THE

WORLD ’ S FIRST ANTI - HYPERTEN SIVE DRUG , DERIVED FROM

R AUWOLFIA

SERPENTINA .

1950 D R . R OSHAN M. C APTAIN , P H .D.,

JOINS THE COMPANY AND

R&D.

SPEARHEADS

viding scientifically researched herbal solutions for the entire family. Indeed, brand

Mission

Himalaya has substantially increased its

The important mission of the company

visibility in several important markets glo-

is to Establish Himalaya as a science-

bally.

based, problem-solving, head-to-heel

The Beginning The Himalaya Drug Company was founded in 1930 by Mr. M. Manal with a clear vision to bring Ayurveda to society in a contemporary form and to unravel the mystery behind the 5,000 year old system of medicine. This included referring to ancient ayurvedic texts, selecting indigenous herbs and subjecting the formulations to modern pharmacological, toxicological and safety tests to create new drugs and therapies. Seventy nine years ago, on a visit to Burma, Mr. Manal saw restless elephants

brand. It is also striving to harness from

1955 L IV .52,

A HEPATOPROTECTI VE , IS

L AUNCHED AND GOES ON TO BECOME ONE OF THE WORLD ’ S TOP - SELLING

nature’s wealth and characterized by trust and healthy lives. Another significant aspect of Himalaya Drug Company is to develop markets worldwide with an in-depth and longterm approach, maintaining at each step

DRUGS .

1975 AN

ADVANCED MANUFACTURING

FACILITY IS SET UP IN

B ANGALORE .

AND GROWS TO BECOME CORPO -

the highest ethical standards.

RATE

Other aspects that include in the mis-

HEADQUARTERS .

1991

sion is to respect, collaborate with and utilize the talents of each member of the

T HE

Himalaya family and the local communi-

MOVES TO

ties where Himalaya products are devel-

COMPANY ’ S

R&D

CENTER

B ANGALORE . R&D

BECOMES AN IMPORTAN T ASPECT .

oped and/or consumed, to drive our seed-

S EPTEMBER - 2 0 0 9

1996 T HE

COMPANY OPENS ITS

OFFICE AT

H OUSTON , T E X AS .

Himalaya’s commitment to the com-

and posters to local doctors, hospitals

munity is part of its core values. The

and health clinics across India. The leaf-

mission is to make a positive differ-

let s contain easily understandable

ence to the communities in which it

medical information regarding com-

FOR COMMERCIAL LIVESTOCK IS

operates. It believes that every human

mon health conditions like osteoporo-

L AUN CHED .

being has a fundamental right to a

sis, infertility, kidney stones, and meno-

good quality of life. This involves ac-

pause among others. Keeping in mind

cess to health, education, a clean en-

the lingual diversity in India, the leaf-

vironment and freedom from poverty.

lets are made available in English and

Through several community initia-

13 other regional languages. The pro-

tives, which include programs aimed

gram reaches out to both remote rural

at ensuring better health, education,

and urban areas of the country. The

sustainable development and eco-

campaign has a special focus on

nomic empowerment, the best is

women.

done by Himalaya Drug Company to

Investing in the community

bring happiness to the lives of people

At Himalaya it is believe that by giv-

who are marginalized and poor. The

ing the poor a source of stable income,

social philosophy of Himalaya Drug

it can help transform them from pas-

Company is very simple - to prosper

sive recipients to more active partici-

as a business it need to ensure that

pants in the creation of wealth for the

the community prospers along with

country. In pursuit of its social goal of

it. By investing in the community the

promoting economic empowerment

Himalaya group is investing in its own

of marginalized farmers, Himalaya has

business.

outsourced collection of some medici-

1998 A NIMAL H EALTH P RODUCT

RANGE

1999 H IMAL AYA H ERBAL S PERSONAL

L AUNCHES ITS

HEALTHCARE IN

PRODUCTS

I NDIA .

2000 T HE

COMPANY L AUNCHES A

SPECIAL RANGE FOR PE TS CALLED

C OMPANION C ARE

THE

RANGE .

2001 T HE

COMPANY ADOPTS A NE W

UNIFIED BRAND IDENTITY .

2003 W ELL - BEING D IVISION

FORMED .

2003

Good Health campaign

nal herbs to rural farming communi-

The Himalaya drug company’s good

ties in Karnataka. The contract-farm-

ISO 9001: 2000

health campaign had become a great

ing project initiated in 2003 through

AWARDED FOR DESIGN , MANUFAC -

success. The company believes in

Gram Mooligai Corporation Ltd.

TURE AND MARKE TING OF HERBAL

Health and stands by the famous and

(GMCL), a company working with rural

simple message ‘Health is wealth’.

communities in Southern parts of In-

The program focuses on distributing Patient Information Leaflets (PILs)

HEALTH CARE PRODUCTS .

2005

dia, aims at building sustainable livelihoods for small and marginal farmers.

CERTIFICATION

H IMAL AYA

CELEBRATES

YEARS .

S EPTEMBER - 2 0 0 9

to-shelf policy and to rigorously adopt

odology and manufacturing practice,

edies, to formulate a range of personal

eco-friendly practices to support the en-

Himalaya has made available to people

care products that cater to daily health

vironment we inhabit.

all over the world, an alternate method

needs. This range offers the goodness

It is also striving to ensure that each

of treatment, which has no known side

of natural solutions for daily use by the

Himalaya employee strongly backs the

effects. The medicinal range comprises

complete family.

Himalaya promise to exceed the expecta-

over 35 products and is broadly classi-

The use of natural ingredients in per-

tions of the consumer, each time and ev-

fied into four categories viz: Children’s

sonal care products has been practiced

ery time. Nothing less is acceptable.

Health, Men’s Health, Women’s Health,

since time immemorial, leading to in-

and General Health.

creased use of herbs with a curative value.

Largest tablet coating unit in the country Starting off operations in Dehradun

Prominent among Himalaya brands is

Modern research proves that herbs while

Liv.52, a liver formulation, which is also

being effective are also mild and sooth-

the flagship brand of the company.

ing.

way back in the 1930s, the company later

Every one-third of a second, one unit

Launched in 1999, Himalaya Herbals is

spread its wings to Mumbai and across

of Liv.52 is bought somewhere in the

a range of natural herbal personal care

the country. In 1975, the company set up

world. It is ranked number one in the

products spanning Health Care, Oral Care,

an advanced manufacturing facility in

hepatoprotective - lipotropic segment

Hair Care, Skin Care and Baby Care.

Makali, Bangalore, India, which today

and number four among all pharmaceu-

houses the Corporate headquarters. In

The range comprises of fairness cream,

tical products in India. (ORG Marg, July

1991, the company relocated its R&D fa-

soap-free face washes, facial cleansers,

2003). Liv.52 celebrates fifty years in 2005.

face toners, moisturizers, soap-free sham-

cility to Bangalore. The manufacturing facility at Makali has the largest tabletcoating unit in the country. Over one crore tablets are punched every day.

In 1972, continuing its tradition of in-

poos, conditioners, hair-loss control,

troducing safe and natural remedies,

weight control, pimple control, foot care,

Himalaya launched Bonnisan, a natural

multi-purpose creams, skin nutrients,

pediatric digestive tonic.

dandruff control, anti-stress, digestive

A formulation based on years of re-

health, pain relievers, cough & cold re-

Himalaya has a well-defined Research

search and clinical testing, the product

lievers, oral care and baby care products.

and Development policy. Himalaya’s his-

found wide acceptance among doctors and mothers alike. The sweet tasting tonic

Animal Health

tor y is one of innovation through research. The company believes that the

became a trusted part of a baby’s grow-

ideal healthcare system lies in the syn-

ing up.

Research and Development

ergy between ayurveda and modern sci-

After extensive work on the formula-

ence. Himalaya’s constant endeavor is to

tions and related clinical research,

create innovative products that satisfy the

Himalaya introduced Menosan, a herbal

health and personal care requirements

non-hormonal product for menopausal

of contemporary living.

women, Reosto, a comprehensive

Products Himalaya’s products can broadly be categorized into three main ranges, viz:

therapy for osteoporosis and Himplasia, a unique product for benign prostatic hyperplasia, a new dimension in BPH management.

Pharmaceutical, Personal Care, and Ani-

Some of the other well known prod-

mal Health. Pharmaceutical Range . . .

ucts are Abana, Cystone, Gasex, Geriforte,

health maintenance, eye, cardiac and skin

Rumalaya, Diabecon, Mentat, Koflet,

care, immune booster and cough con-

Himcolin, Septilin, Pilex, PureHands, etc.

trol. Medicinal range of products carries the Himalayan hallmark of researching

Personal Care Products

pets like cats & dogs the Himalaya legacy extends to animal health also. The Company offers well-researched, safe, animal health products, harnessed from nature’s wealth to alleviate the suffering of animals, to improve their health and to increase their productivity. Concern for animal welfare prompted Himalaya to launch the Animal Health Range of products for commercial livestock in July 1998. The products in this range alleviate the suffering of animals and improve their health. This results in healthy livestock whose animal products are safe for human consumption. Realizing the importance of companion animals in today’s

ayurveda and capturing its benefits in for-

Himalaya has used its wealth of knowl-

mulations. Using modern research meth-

edge and research, in natural herbal rem-

Leveraging R&D strengths in creating natural drugs and therapies for sensitive

life, Himalaya launched the Companion Animal Care Range of products in 2000.

S EPTEMBER - 2 0 0 9

Buck Strength Dhanalakshmi Bank serviced a business worth Rs.8,212 crores as on 31ST March 2009, comprising of deposits worth Rs.4969 crores and advances worth Rs.3245 crores.

DHANALAKSHMI BANK LIMITED, AND THE COMPANY’S PRINCIPAL ACTIVITIES ARE TO PROVIDE BANKING AND TREASURY SERVICES TO CORPORATE AND PRIVATE CUSTOMERS. IT OPERATES THROUGH

181 BRANCHES AND 26 EXTENSION COUNTERS SPREAD OVER 8 STATES IN INDIA AND 13 OFFSITE ATMS. ITS BUSINESS SEGMENTS ARE TREASURY OPERATIONS, CORPORATE/WHOLESALE BANKING, RETAIL BANKING AND OTHER BANKING BUSINESS OPERATIONS.

S EPTEMBER - 2 0 0 9

Dhanalakshmi Bank was incorporated on 14th November 1927 by a group of

tions, stressing on the highest quality of

Dhanam Kissan Vahana helps increase

service.

efficiency and mobility, which assists farm-

ambitious entrepreneurs at Thrissur, the

On the socio-economic front, the Bank

ers save on valuable time. It also reduces

cultural capital of Kerala. The bank started

plays a leading role in dispensing Micro

their cost of travelling by empowering

with a Capital of Rs.11,000 and 7 em-

Credit among private and public banks

farmers to purchase two-wheelers.

ployees and subsequently became a

based in Kerala.

Scheduled Commercial Bank in the year

With Dhanam Kissan Vahana, farmers

A s at the end of March 2009, the

can reduce wastage of perishable pro-

outstandings under micro credit were

duce, facilitate market sales and better

The Bank has received approval from

Rs.124.40 crores. This involvement is part

profits and supervise agricultural opera-

the Reser ve Bank of India to open 66

of the Bank’s objective to act as a catalyst

tions effectively.

branches and 380 ATMs across the coun-

for the economic prosperity of the coun-

Kissan card

tr y during 2009. This will increase the

try. The Bank’s Corporate Office at Thrissur

The Dhanam Kissan Card is geared to

number of customer outlets from 279 to

and Industrial Finance Branch at Kochi

meet a farmer’s short-term credit needs.

725 helping it attain a national stature.

have been accredited with certification

It facilitates adequate and timely credit

Started seven decades back, at a time

under ISO 9001-2000. Priority Sector Ad-

for a farmer’s comprehensive credit re-

when banking was less known to the

vances of the Bank as on 31st March 2009

quirements under a single window adopt-

people in a high literate state of Kerala,

stood at Rs.1148 crore. The priority sec-

ing a whole farm approach.

the bank grew in strength over the years.

tor ratio as on that date was 53.48%,

1977.

DLB has today 178 branches spread

well above the RBI benchmark of 40%.

The Dhanam Kissan Card essentially covers short-term credit needs and contingent credit needs.

over Kerala, Tamil Nadu, Karnataka,

The Bank surpassed the RBI norm of

Andhra Pradesh, Maharashtra, Gujarat,

18% in respect of agricultural credit by

Agri gold loan

West Bengal (Kolkata) and New Delhi. The

recording 21.40% as on 31st March 2009

The Agri Gold Loan is a loan extended

bank has ambitious plans for growth in

with outstanding of Rs.557 crore.

branches, total business and profits.

Achievements The Bank ser viced a business worth Rs.8,212 crores as on 31 March 2009,

ornaments owned by them for the pur-

sections stood at 10.31% as against the

pose of agricultural activities. This is tar-

RBI benchmark of 10% with outstand-

geted at farmers who are looking for fi-

ing amount of Rs.22.29 crore as on 31st

nancial assistance to meet agricultural

March 09.

and developmental expenses.

comprising of deposits worth Rs.4969

The outstandings in the area of Micro

crores and advances worth R s.3245

credit was Rs.125 crore as on 31st March

crores.

to individuals against the security of gold

The Bank’s achievement under weaker

.2009.

Micro Credit MFI Dhanalakshmi Bank introduced the micro-credit scheme in 1998 after recognizing it s emerging potential as an ap-

The Bank made a net profit of Rs.57.45

The number of Savings Bank accounts

crores during the financial year ended 31st

maintained by Self Help Groups (SHGs)

March 2009 and had a Capital Adequacy

with the Bank was 20740 while the credit

Ratio of 14.44% during the same period.

facilities availed by SHGs stood at Rs.35

Micro Credit SHGs

The Bank has put the Real Time Gross

crore as on 31.03.2009. Kisan Credit

Micro Credit involves the provision of

Settlement (RTGS) and National Electronic

Cards for Rs.5.06 crore were issued to

thrift, credit and other financial services

Fund Transfer (NEFT) systems in place to

1717 farmers as at the end of March 2009.

and products of lower value to the poor

facilitate large value payments and settle-

As a part of Financial Inclusion initiatives,

in rural, semi urban and urban areas for

ments online in real time, on a transac-

the Bank has opened 83046 ‘No frills’

enabling them to raise their income lev-

tion-by-transaction basis.

account with out standing amount

els and improve their living standards.

In an effort to provide NRIs with valueadded services, the Bank has set up NRI Boutiques (Relationship Centres) at 9 locations in the states of Kerala and Tamil

Rs.22.22 crore as on 31st March 09.

Products of Dhanalakshmi Kissan Vahana

Nadu. The Bank also has plans to open

This specially structured vehicle loan

specialized NRI outlets at potential loca-

is designed specifically for farmers.

proach for empowerment of women and poverty alleviation.

It has become a successful instrument for economic empowerment of the underprivileged sections of the society by improving their access to formal credit system through SHG.

S EPTEMBER - 2 0 0 9

Electrical Trust Trust - a simple word that contains a whole philosophy was handed down by Jamnalal Bajaj to his successors. He valued honesty over profit, actions over words and common good over individual gain.

WHAT STARTED OFF AS A SUGAR MANUFACTURING FACTORY IN 1931, HAS GROWN TO BECOME ONE OF THE COUNTRY’S LARGEST BUSINESS HOUSES. WITH ACTIVITIES THAT ENCOMPASS THE MANUFACTURE OF A WHOLE RANGE OF PRODUCTS.

S EPTEMBER - 2 0 0 9

The Bajaj Group is amongst the top 10

Kamalnayan Bajaj and steered the Group

who are in the business of steel, sugar,

business houses in India. Its footprint

from strength to strength for over 22

two wheelers & three wheelers besides

stretches over a wide range of industries,

years. He had also actively participated in

an impressive range of consumer electri-

spanning automobiles (two-wheelers and

the freedom struggle of the country. In

cal products. They are a 70+ years old

three-wheelers), home appliances, light-

post independent India, he had led the

company with a turnover of over Rs. 1404

ing, iron and steel, insurance, travel and

youth movement.

crores aiming to be a Rs. 2001 crore com-

finance.

All along, he actively strengthened the

pany in the next couple of years.

At the turn of the new millennium, this

foundations of business through ethics

Bajaj Electricals has 19 branch offices,

business conglomerate had a sale turn-

and practices both within the group and

a chain of 600 distributors, 3000

over in excess of US$ 1,300 million.

amongst the business community as well.

authorised dealers, over 2,50,000 retail

The Net Assets were worth US$ 1,333

Shekhar Bajaj, Chairman & Managing

outlets and over 230 service franchises

million and the Net Profit was US$ 58

Director of Bajaj Electricals Ltd., started

spread across the country. BEL today has

million. What’s more, in the year 2001, it

his career with Bajaj Sevashram after

five major strategic business units com-

was ranked as the 5th largest business

which he worked at Bajaj International,

prising of home appliances, fans, light-

family in India by the Centre for Monitor-

the group’s export company.

ing, luminaires and engineering & projects.

ing Indian economy (CMIE). It has under

Shekhar Bajaj joined Bajaj Electricals

its umbrella over 25 companies and a

in 1980, became the Managing Director

The company is are also in the busi-

in 1987 and took over as the Chairman

ness of manufacturing, erection and com-

and Managing Director in 1994.

missioning of Transmission Line Towers,

strength of over 25000 employees. It’s core strength, however, is the unshakeable foundation based on its tra-

He is the Chairman of Bajaj Group

dition of trust.

companies Bajaj International and Her-

History

cules Hoist Pvt. Ltd. and on the Board of Directors of Bajaj Auto and IDBI Bank. He

The ‘Bajaj‘ group of India owes im-

was the President of ASSOCHAM, former

mense gratitude to their founding fathers

President of Indian Merchant Chambers

whose vision and dedication over the

(IMC) and Council for Fair Business Prac-

years has greatly helped to build a busi-

tices (CFBP). The social and welfare ob-

ness house that can set standards in In-

jectives of the Bajaj Group are being ful-

dian Industry.

filled through the many Trusts and Foun-

Jamnalal Bajaj was the founding fa-

dations it has established. Spending up

ther of the Bajaj Group, the adopted ‘fifth’

to Rs. 100 million (US$ 2.15 million) every

son of Mahatma Gandhi, and the ‘mer-

year. The assets of these charitable trusts

chant prince’ who held the wealth he cre-

is at present nearly Rs. 700 crore (US$

ated in trust for the people of his coun-

153 million).

tr y. Kamalnayan Bajaj, elder son of

Telecom Towers, Mobile Telecom Towers and Wind Energy Towers. Export of all BEL’s products except of its engineering and projects business unit is taken care of by group company Bajaj International Pvt. Ltd.

Bajaj Auto The group’s flagship company, Bajaj Auto, is ranked as the world’s fourth largest two- and three- wheeler manufacturer and the Bajaj brand is well-known across several countries in Latin America, Africa, Middle East, South and South East Asia. The present Chairman of the group, Rahul Bajaj, took charge of the business

Jamnalal Bajaj, followed footsteps of his

Financial Performance

illustrious father and consolidated the

FY 2008-09 FY 2007-08

bajaj foundation.

Gross Sales Turnover and Other Income

the Bajaj Auto the flagship company has

With characteristic foresight and prag-

for 2008-09 was at Rs. 1,806.39 crores

gone up from Rs.72 million to Rs.46.16

matic vision, he launched a steady diver-

as compared to Rs. 1,407.53 crores in

billion (USD 936 million), its product port-

sification programme which gave the cur-

2007-08. For the year 2008-09, the Profit

folio has expanded from one to and the

rent name “Bajaj” both its shape and

after Tax was at Rs. 89.35 crores as com-

brand has found a global market. He is

size. His unique management style cre-

pared to Rs. 73.13 crores from the previ-

one of India’s most distinguished busi-

ated a work culture that matched well with

ous year period.

ness leaders and internationally respected

the national spirit he had inherited.

Bajaj Electricals

Ramkrishna Bajaj took over the reins of the “Bajaj group” in 1972 after

in 1965. Under his leadership, the turnover of

for his business acumen and entrepreneurial spirit.

Bajaj Electricals Limited (BEL) is a part of the Rs. 20000 crore “Bajaj Group” S EPTEMBER - 2 0 0 9

Pioneer PSU Excellence and Quality in all operations, safety and well-being of employees and concern for the neighbourhood and the Environment is a way of life for Balmer Lawrie.

BALMER LAWRIE & CO. LTD. HAS BEEN RESPONDING TO THE DEMANDS OF AN EVER CHANGING ENVIRONMENT, SEEING IN EVERY CHANGE AN OPPORTUNITY, FULFILLING EACH VISION WITH INNOVATION TO CARVE OUT A SIGNIFICANT PRESENCE IN ITS MANY AREAS OF BUSINESS.

S EPTEMBER - 2 0 0 9

Balmer Lawrie started its corporate

These drums are manufactured in a

facturing plants. Projects have been

journey as a Partnership Firm on 1st

range of various thickness configurations

implemented in India as well as

Februry 1867 at Kolkata, founded by two

to suit different type of products (solid

Abudhabi, Bahrain, Bangladesh, CIS,

Scotmen - George Stephen Balmer and

and liquid), type of filling (cold and hot),

Dubai, Myanmar, Nepal, Sharjah, Srilanka

Alexander Lawrie.

stack ability (conical and cylindrical) etc.

and the United Kingdom.

From Tea to Shipping, Insurance to Bank-

Greases and Lubricants

Tea Blending and Packaging

ing, Trading to Manufacturing - there was

Globally the company is also among

Tea is one of the oldest and traditional

hardly any business, Balme Lawrie did not

the top ten grease manufacturers and ex-

businesses of Balmer Lawrie. The com-

delve into in its formative years, growing

ports significant quantities to other coun-

pany is engaged in the entire spectrum

stronger at every landmark of its remark-

tries. The company has made substan-

of tea operations from sourcing to ex-

able corporate journey.

tial investments in Research & Develop-

ports (both in bulk and value added

Today, Balmer Lawrie has emerged as

ment with the Applications Research

forms). The Company operates from all

a multi-activity, multi-technology, multi-

Laborator y (ARL) at Kolkata boasting

auction centers in India and owns mod-

location conglomerate with global foot-

world class R&D capabilities.

ern warehousing, tasting, blending and

prints - along with its joint Ventures, en-

Because of the technological superi-

packing facilities at Kolkata, Coimbatore

compassing diverse interests in manufac-

ority of its infrastructure, the company is

and Bedford (UK). The company is a Gov-

turing and services sector viz, Industrial

the largest preferred contract processor

ernment recognized ‘Export House’. The

Packaging, Grease & Lubricants, Leather

for oil companies in the country. Besides

company is also the recipient of ‘Certifi-

Chemicals, Tea, Travel & Tours, Logistics

doing contract processing, the company

cate of Merit’ awarded by the Govern-

Infrastructure & Services and Refinery &

also manufactures nearly 200 high per-

ment of India for ‘outstanding export

Oilfield Services.

formance value added products under

performance in packet tea and tea bags’.

History

its brand name BALMEROL.

Leather Chemicals

Logistics Services Balmer Lawrie offers a complete set of

Balmer Lawrie became a private limited

Balmer Lawrie had entered the field of

logistics ser vices through its 15 offices

company in 1924 and a public limited com-

Leather Chemicals in 1983 by taking up

in India including all major airports & sea-

pany in 1936. In 1972 Balmer Lawrie be-

manufacture of Synthetic Fatliquors

ports. Together with over 50 associates

came a Government Company conse-

through commercialisation of a technol-

around the globe, the company offers

quent to the nationalisation of IBP Co.

ogy developed by the Central Leather Re-

an unparalleled reach for its clients with

Ltd of which it was a subsidiar y Com-

search Institute, Chennai.

in time.

pany.

Brief Timeline:

Over the years, Balmer Lawrie has added several new products and formu-

1924 – Private Limited Company

lations, developed inhouse in its modern

1936 – Public Limited Company

R&D facilities at Chennai. The Company

1972 – Government Company

now offers a basket of Synthetic Tanning

1987 – Schedule B PSE 2003 – Mini Ratna II PSE 2006 – Mini Ratna I PSE

Specialisation Industrial Packaging Balmer Lawrie is India’s leading manufacturer of MS drums holding the largest market share in the country. The company has a distributed manufacturing base with factories in Mumbai, Silvassa, Chennai, Kolkata, Mathura, Panipat and Asaoti.

Agents and Synthetic / Semi-Synthetic high per formance Fatliquors manufactured in its modern plants at Chennai .

Engineering and Technology Services Turnkey project implementation capabilities of the company are rooted in the sound foundation of in-house technology and manufacturing facilities. Besides setting up most of it’s own manufacturing facilities and offices, the company has successfully met client requirements in niche areas of infrastructure, petroleum and energy sectors, process and manu-

Financial Performance For the 12 month period ending 31st March 2009, the Total Income stood at Rs. 2038.70 crores as compared to Rs. 1784.57 crores from the period ending 31st March 2008. The Net Profit achieved for the year ending 31st March 2009 was at Rs. 109.15 crores in comparison to Rs. 99.82 crores from the same period of the previous fiscal year. First Quarter results show Total Income at Rs. 428.59 crores on 30th June 2009 as compared to Rs. 432.96 crores from the first quarter of 2008. The Net Profit stood at Rs. 28.92 crores for the first quarter ending 30th June 2009, as compared to Rs. 24.16 crores from the corresponding quarter from the previous year. S EPTEMBER - 2 0 0 9

In Good Faith The real inner strength of a growing organisation lies in its staff resources. The Catholic Syrian Bank has been singularly fortunate all these years in creating an environment in which the employees at all levels could play their role.

THE DECADE OF THE SEVENTIES SAW THE EVOLUTION OF A NEW CULTURE IN INDIAN BANKING. NATIONALISATION OF BANKS IMPOSED “SOCIAL CONTROL” AND IMPARTED NEW ETHOS TO COMMERCIAL BANKING. THE CATHOLIC SYRIAN BANK LTD TOOK UP THE CHALLENGE AND MORE THAN 75% OF ITS CLIENTELE BELONG TO SMALL AND ECONOMICALLY WEAKER STRATA OF SOCIETY. THE BANK HAS A STRONG RURAL BASE WITH AROUND 80% OF THE BRANCHES IN RURAL AND SEMI- URBAN AREAS.

S EPTEMBER - 2 0 0 9

The genesis of Indian Banking is asso-

expansion programme initiated during

an in house equity research wing so as to

ciated to a large extent with Swadeshi

these years gathered momentum in the

face the challenges of the future.

Movement, which inspired many Indians

subsequent years.

to promote Swadeshi Banks in the be-

In August 1969, the Bank was included

The Bank has also geared up its machiner y to increase its market share of

ginning of the 20th Century.

in the Second Schedule to the Reserve

History

Bank of India Act 1934. In 1975, the Bank

The real inner strength of a growing

attained the status of “A” Class Sched-

organisation lies in its staff resources. The

uled Bank when its total Deposits crossed

Bank has been singularly fortunate all

Rs.25 crores.

these years in creating an environment in

The enterprising founders of Catholic Syrian Bank Ltd also found this period an opportune moment to promote the establishment of a bank. Thus was born ‘The Catholic Syrian Bank Ltd’, eight decades ago, on 26th November 1920 to be exact at Thrissur, which in later years acquired the unique distinction of being a centre with the highest concentration of banks in the South. The founder directors of the bank were people of eminence known for their foresight, integrity and initiative. The policy they laid down has been consistently upheld by the successive generations who guided the destiny of the institution. The bank commenced

The necessity of imparting training to staff looked very important and a mod-

corporate finance in the days to come.

which the employees at all levels could play their role.

est beginning was therefore, made in set-

Their contribution to the growth of this

ting up a Training College in 1975. In the

institution has been invaluable. The Bank

same year the Bank entered the field of

has a very dynamic team on its Board of

foreign Exchange.

Directors who is guiding the destiny of

At a ver y early stage, the Bank recognised mechanisation as an effective

the Bank leading to grow th and prosperity.

tool of management and streamlined its

At present, the bank has a network of

accounting procedures by introduction of

363 branches and 1 extension counter

Data processing system.

which includes NRI/SSI/Industrial Finance

From November 1975, reconciliation of

and Ser vice branches. The Bank also

inter-branch accounts was mechanised

plans to open more number of branches

by using IBM Data processing machines.

in a phased manner.

business on Januar y 1st, 1921 with an

The decade of the seventies saw the

authorised capital of Rs.5 lakhs and a

evolution of a new culture in Indian Bank-

paid up capital of Rs. 45270/-

ing. Nationalisation of banks imposed

For the year ended 31st March 2009,

“Social Control” and imparted new

the Bank recorded a Total Income of

ethos to commercial banking.

Rs.656.195 crores, with an Expenditure

During the first two decades of it’s functioning, the Bank concentrated only in Kerala. Banks and credit institutions which

What followed was a massive expan-

proliferated especially in Kerala received

sion of bank branches with a distinct

a jolt and many of them came to their

thrust on remote rural belts.

Financial Performance

of Rs.619.01 crores, resulting in a Net Profit of Rs.37.45 crores.

Corporate Vision

doom following the crash of the

Special schemes were formulated to ca-

By the year 2010, CSB aims to become

Travancore National Quilon Bank in 1938

ter to the diverse credit needs of small

a truly global bank with presence all over

followed by Palai Central Bank in1960.

scale industries, road transport operators,

India and at strategic centres/locations

agriculturists, and other self employed

abroad, absorbing the latest in informa-

entrepreneurs.

tion technology, on the best of sound

During the period many small banks came to the verge of collapse shaking the confidence of the public and what

The Catholic Syrian Bank Ltd did not

followed was a process of consolidation.

lag behind in taking up the challenge and

The strategy of mergers and amalgam-

more than 75% of its clientele belong to

ations of small banks with bigger banks

small and economically weaker strata of

The Bank aims to achieve, by the year

brought the number of banks within con-

Society. The Bank has a strong rural base

2010 – a total business volume of Rs

trollable limit s, thereby making the

with around 80% of the branches in ru-

20,000 crore by deeper penetration in

industry’s base strong. In 1964-65, The

ral and semi- urban areas.

the market; a net worth level of Rs.700

banking principles and traditions.

Vision 2010

Catholic Syrian Bank Ltd took part in tak-

Investments in money market and capi-

crore, to add shareholder value; and a

ing over the liabilities and assets of five

tal market instruments are being ex-

total network of 450 branches, to en-

small/medium sized banks in Kerala. The

panded and steps are being taken to have

hance its geographical reach.

S EPTEMBER - 2 0 0 9

Cover of Confidence From a humble beginning in 1932, Peerless has come a long way to establish itself as a trusted household name through its continued dedication and sustained service to its huge customer base.

THE PEERLESS INSURANCE CO. LTD. WAS LAUNCHED IN 1932, DIRECTING THE NATIONALISTIC FERVOUR OF THE TIME TO BUSINESS ENDEAVOUR, TO ADDRESS THE INSURANCE NEEDS OF INDIANS, A SECTOR THEN MONOPOLIZED BY FOREIGN COMPANIES, BY A 33-YEAR OLD HIGH SCHOOL TEACHER, LATE RADHASHYAM ROY, AND LIKE MINDED IDEALIST FRIENDS, AT DHAKA’S PORT OF NARAYANGANJ, NOW IN BANGLADESH.

S EPTEMBER - 2 0 0 9

Incorporated in 1932 as “The Peerless

self-employment, while ensuring op-

hoped that the net worth would cross

Insurance Co Ltd”, a leading indigenous

erational control of a massive infrastruc-

the Thousand crore mark in two to three

insurance company, the company is now

ture.

years but it happened well ahead of that

known as “The Peerless General Finance & Investment Co Ltd”. Today Peerless is

Distinctions

timeline. This high net worth and the fact that the company is debt-free, if exclud-

the market leader in the area of savings &

The country’s premier financial service

ing the deposits from the public which

investments and has emerged as India’s

provider in the private sector with over

are specifically and adequately secured

largest Registered Residuary Non-bank-

77 years of experience.

by approved securities as required by Re-

ing Company (RNBC), with core compe-

Professionally managed by a host of

serve Bank of India, testify to the finan-

tence of mobilising savings from the grass

eminent corporate leaders on the

cial strength and soundness of the Com-

root level. It’s pan-Indian presence with

Board with Mr. D Basu as the Chair-

pany.

countrywide network and constant en-

man and Mr. S K Roy as the Managing

deavour to offer need-based products

Director.

and superior customer services have enabled Peerless to build an excellent brand image.

History The Peerless Insurance Co. Ltd. was launched in 1932 by a 33-year old high

Total deposits mobilised by the Company last year were Rs.753 crore, lower

A wide variety of tailor-made, co-

by Rs.200 crore than that in the previous

branded, Insurance-linked financial

year, in line with the planned scaling down

products.

of its RNBC business. The year-end fig-

Technology-based, prompt and person-

alized service, right at the Customers’ doorsteps.

school teacher, Late Radhashyam Roy,

Set an immaculately spotless record of

and like minded idealist friends, at

Maturity Payment - Over Rs.15,800

Dhaka’s port of Narayanganj, now in

Crore already disbursed.

ure of outstanding deposits from the public declined to Rs. 3935 crore, from the figure at the previous year-end of Rs.4302 crore. The Company, nevertheless, was able to maintain the operating profit during the year at the previous year’s level mainly because of additional

Tapping the untapped areas - mopping

investment income on the higher net

Directing the nationalistic fervour of the

up huge un-surfaced resources and in-

worth that remained deployed in busi-

time to business endeavour, to address

jecting the same into the mainstream

ness. The company’s Financial Product

the insurance needs of Indians, a sec-

of the country’s economy.

Distribution Business (FPD Business) - the

Bangladesh.

Generating excellent, enormous Self-

new business line that in future should

employment opportunities through

deliver bulk of the income flow as it moves

Starting with paid up capital of Rs.300,

Smart Rojgar Yojna, which is the source

out of RNBC business- made its nascent

it became a leading Provident Insur-

of livelihood for teeming millions across

contribution of Rs.75 crore to the income

ance Company, before moving to

the country.

stream of Peerless Group during the year.

tor then monopolized by foreign companies.

Kolkata. Following nationalization of life insur-

ance in 1956, focus turned on small savings: India’s first Non-banking Finance Company. Late B K Roy pioneered the concept of doorstep service for mobilising small savings from semi-urban and rural areas.

Financial Performance The Directors’ Report for the financial year 2008-09, together with the related Balance sheet and Profit & Loss Account, indicate there were two high points in the company’s financial performance last year. First, the company earned a profit after tax of Rs.236 crore reflecting an in-

Free insurance benefit against acciden-

crease of 64% over that of the previous

tal death, introduced in the year 1972

year. This was also the highest net profit

with savings schemes.

earned by the company since inception.

Peerless introduced the concept of di-

The second that the company’s net

rect marketing by engaging agents

worth crossed the figure of Rs 1000 crore

through its Swarojgar Yojana.

as on 31 March 2009 because of the large

Agency system designed to promote

net profit earned. The Company had

HIGH NET WORTH AND THE FACT THAT THE COMPANY IS DEBT-FREE, IF EXCLUDING THE DEPOSITS FROM THE PUBLIC WHICH ARE SPECIFICALLY AND ADEQUATELY SECURED BY APPROVED SECURITIES AS REQUIRED BY

RESERVE

BANK OF INDIA, TESTIFY TO THE FINANCIAL STRENGTH AND SOUNDNESS OF

COMPANY. TOTAL DEPOSITS MOBILISED BY THE COMPANY LAST YEAR WERE RS.753 CRORE, LOWER BY RS.200 CRORE THAN THAT IN THE PREVIOUS YEAR, IN LINE WITH THE PLANNED SCALING DOWN OF ITS RNBC THE

BUSINESS

S EPTEMBER - 2 0 0 9

Investments In Time Vijaya Bank has been implementing Hindi in all areas of banking since its nationalisation. There is separate Official Language Division which ensures implementation of the Official Language Policy of the Government of India.

VIJAYA BANK HAS THE HIGHEST NUMBER OF BRANCHES IN ITS HOME STATE KARNATAKA. DURING THE FINANCIAL YEAR 2009-10 , SO FAR, THE BANK HAS OPENED 9 BRANCHES. IN LINE WITH THE PREVAILING TRENDS, THE BANK HAS BEEN GIVING GREATER THRUST TOWARDS TECHNOLOGICAL UPGRADING OF ITS OPERATIONS.

THE BANK HAS NETWORK OF 1110 BRANCHES, 43 EXTENSION COUNTERS AND 372 ATMS.

S EPTEMBER - 2 0 0 9

Vijaya Bank, was founded on 23rd Oc-

Facility for its customers. Vijaya Bank is

grow th during the quarter, mainly due

tober 1931 by late Shri A.B.Shetty and

one among the few banks in the country

to additional provisioning of Rs.65 Crore

other enterprising farmers in Mangalore,

to take up principal membership of VISA

towards wage revision under the ongo-

Karnataka. The objective of the founders

International and MasterCard Interna-

ing bipartite settlement and Rs.44.38

was essentially to promote banking habit,

tional. The driving force behind Vijaya

Crore on account of superannuation ben-

thrift and entrepreneurship among the

Bank’s every initiative has been its 11746

efits.

farming community of Dakshina Kannada

strong dedicated workforce.

district in Karnataka State. The bank became a scheduled bank in 1958.

Financial Performance

Business and Support Services Bank had a business of Rs.91802 Crore

Vijaya Bank steadily grew into a large

Vijaya Bank posted a Net Profit of

as on June 30, 2009, comprising depos-

All India bank, with nine smaller banks

Rs.143.38 Crore for the first quarter of

its of Rs.54895 Crore and advances of

merging with it during the 1963-68. The

2009-10, compared to a Net Loss of

Rs.36907 Crore.

credit for this merger as well as growth

Rs.76.64 Crore for the corresponding

goes to late Shri M.Sunder Ram Shetty,

quarter last year.

Within overall advances, priority sector advances recorded 12% growth (y-o-y)

who was then the Chief Executive of the

“Our Q1 core earnings have been very

to reach Rs.13277 Crore. While agricul-

bank. The bank was nationalised on 15th

impressive, especially in the light of some-

tural advances posted 20% grow th to

April 1980. The bank has built a network

what slackened business grow th. Our

reach Rs.4207 Crore, MSME advances

of 1110 branches, 43 Extension Counters

Net Interest Income continued to feature

were of the order of Rs.4534 Crore, sig-

and 372 ATMs as at 31.08.2009, that

progressive improvement sequentially

nifying a y-o-y growth of over 17%.

span all 28 states and 4 union territories

as well as on Q-o-Q basis, leading to a

Advances to weaker sections consti-

in the country.

robust growth in Operating Profit,” said

tuted 8.55% of Adjusted Net Bank Credit,

Shri Albert Tauro, CMD of Vijaya Bank.

while loans to women clientele saw a

Each branch provides effective and efficient services and significantly contrib-

Driven by 53.75 % growth in Net In-

30% growth, accounting for 5.82% of

utes to the growth of the individual, and

terest Income, Operating Profit for the

Adjusted Net Bank Credit as against the

the nation.

first quarter was Rs.209.77 Crore com-

5% norm.

Vijaya Bank has the highest number of

pared to Rs.154.84 Crore for the corre-

Under education loans, the portfolio

branches in its home state Karnataka.

sponding quarter of last year. Net Profit

of Rs.4 44.83 Crore reflected a y-o-y

During the financial Year 2009-10 , so

of Rs.143.38 Crore is arrived at after reck-

growth of 36%, with number of benefi-

far, the bank has opened 9 Branches.

oning for provision for wage arrears of

ciaries increasing from 20,047 to 24,542

In line with the prevailing trends, the bank

Rs.65 Crore, provision for superannua-

between June 2008 and June 2009.

has been giving greater thrust towards

tion benefits to the tune of Rs.44.38

technological upgrading of its opera-

Crore, provision for taxes of Rs.102.75

tions.

Crore and provision for non performing

Bank aims to reach a business level of

advances to the tune of Rs.104.60 crore.

Rs.110000 crore, with a y-o-y growth of

branches, 43 Extension Counters and

There was write back of provision un-

about 22%. Business portfolio is envis-

372 ATMs. All 1110 branches, 39 e xten-

der Investments to the tune of Rs.158.98

aged to be further broad based, with con-

sion counters, 12 service branches are

Crore mainly due to efficient manage-

tainment of high cost liabilities and higher

functioning on CBS platform, and at 723

ment of Investment portfolio. Return on

credit volumes aimed at productive seg-

centres, coverin g 100 % of Bank’s busi-

Assets for the quarter worked out to

ments. Retail segment is planned to be a

ness.

0.93%.

focus area while credit to agriculture will

The bank has net work of 1110

The Year Ahead

Realising customer’s constantly evolv-

Interest on advances for Q1 recorded

receive greater focus, especially in poten-

ing and diverse needs, the bank has di-

a growth of 14.68% over Q1 of last year,

tial Regions. New initiatives contemplated

versified too. Entering several new areas

with Yield on Advances of 10.72%. Total

during FY10 include launching of mobile

such as credit card, merchant banking,

income was helped by a trading income

banking and online trading services as

hire purchase and leasing, and electronic

of Rs.72.28 Crore, driving Other Income

also to offer value added services like e-

remittance services, the Bank has recently

up by 51.70 % to Rs.162.41 Crore. Oper-

ticketing, utility payment and funds trans-

started the provisions of Mobile Banking

ating expenses recorded a 68.72%

fer facility under Internet (V-Net) banking.

S EPTEMBER - 2 0 0 9

Fanning India Usha International is probably the first corporate to run more than 300 sewing schools all over the country. Every year over 14,000 students are trained in ‘sewing and design’ and ‘embroidery’ in these schools.

USHA INTERNATIONAL LIMITED IS ONE OF INDIA’S LEADING SALES, MARKETING, DISTRIBUTION AND MANUFACTURING ORGANISATIONS, STRIVING TO MEET CUSTOMER REQUIREMENTS AND PROVIDING CUSTOMER SATISFACTION, THEREBY BUILDING TRUST IN THE COMPANY AND ITS PRODUCTS.

S EPTEMBER - 2 0 0 9

The Shriram Group was incorporated

Fuel Injection Equipment at Hyderabad

by Lala Shriram (grandfather of Siddharth

and Water Cooler factory at Faridabad.

Shriram) in 1889. Over the next 100 years,

First Indian Company to be awarded

the group expanded into textiles, chemi-

ISO 9001:2000 for Marketing pro-

cals, sugar, automobiles, engines, rayons

cesses.

/ nylon tyre cord, automotive compo-

Industry Associates

nents, edible oils, heavy chemicals (fertilizers/ chlor caustic), engineering foundries, sewing machines, fans, home appliances and other kind of items. In 1989,

Hunter Fan Company, USA Janome Sewing Machine Company, Ja-

pan

the group was split amongst the descen-

Honda Siel Power Products Ltd.

dants of Lala Shriram and the businesses

NGK India

that came to Siddharth Shriram’s group

Diverse Product Portfolio

have been mentioned below.

UIL is a multi product consumer du-

Siddharth Shriram Group is one of

rable sales, marketing, distribution and

India’s renowned business groups with

manufacturing Company with a diverse

interests as diverse as sugar, edible oils

product portfolio that includes the fol-

and industrial chemicals to fans, appli-

lowing product lines:

ances and automobiles. The Group com-

Electric Fans

prises two main industrial endeavours:

Sewing Machines

Mawana Sugars Ltd. which has under it s umbrella the following:

Home Appliances

Sugar business Plantation white sugar

Auto Products

ness activity. UIL believes in providing rea-

Co generated power from bagasse

sonable returns to its shareholders and

customer requirements and providing customer satisfaction, thereby building trust in the Company and its products.

UIL’s Distribution Network

Usha International Limited (UIL), which

Separate product verticals and differ-

became one of the India’s best known

ent channels for the Trade / Dealer Net-

consumer durables sales, marketing, dis-

work, Modern Retail, Government

tribution and manufacturing Companies.

Sales and Commercial Bulk Buyers.

Started in 1937.

Marketing its Products since then un-

der the brand name USHA. Manufacturing facilities for Electric Fans

at Hyderabad and Kolkata.

T HE

FIRST

16 Locational Offices 60 Company run Showrooms across

the Country Dealership in all urban centers with

population greater than 20,000

I NDIAN S E WING

M ACHINE

IS E XPORTED .

1948 F ANS

ARE ADDED TO THE PROD UCT RANGE .

1950 T HE

FIRST

I NDIAN F AN

E XPORTED .

1966 D R . C HARAT R AM C HAIRMAN

APPOINTED A S

OF THE BOARD OF

UIL . 1968

sales, marketing, distribution and manu-

Edible oils business and Packaged oil business.

USHA.

1946

operations. UIL is one of India’s leading

Stable bleaching powder

Usha International Limited

UNDER THE BRAND NAME

adding value to all its principals’ business

facturing organisations, striving to meet

INDIGENOUS

SE WING MACHINE MARKE TED

Usha International’s mission is to pur-

Ethanol

Chlorine

FIRST

Drinking water coolers & dispensers

sue excellence in all its spheres of busi-

Caustic soda (lye and flake)

I NDIA ’ S

Engines, Electrical motors & Pump sets

Refined sugar

Chemical business

1934

D IESEL E NGINES THE

U SHA

ARE ADDED TO

PRODUCT RANGE .

1975 U SHA

BECOMES A

P UBLIC L TD .

C O MPA N Y . 1979 F UEL I NJECTION E QUIPMENT INTRODUCED TO THE

C OMPONENTS

U SHA A UTO RANGE .

1982 U SHA S ALES

IS RENAMED TO

U SHA I NTERNATIONAL .

S EPTEMBER - 2 0 0 9

1984 L AUNCHES

A RANGE OF

H OME

A PP L I A N CE S . 1994 F OURTH Usha International is probably the first corporate to run more than 300 sewing schools all over the country. Started in 1950, the Usha sewing school network include centers run directly by the company,

GENERATION FULLY

S E WING M ACHINES

AUTOMATIC

J ANOME

COLL ABORATION WITH

S E WING M ACHINE C OMPANY

army welfare centres and centres run by individuals that get affiliated

J A PA N .

to the Usha sewing school network. Every year over 14,000 students

1994

are trained in ‘sewing and design’ and ‘embroidery’ in these schools. The sewing school network is aimed at imparting sewing skills to

M ONOBLOCK

PUMPS FOLLOWED BY

women, in order to make them self reliant. The courses are designed

A COMPLETE RANGE OF WATER

with the help of professionals in the industry. The courses cover both

LIFTING EQUIPMENT ARE

theoretical as well as practical training so as to provide students thor-

L AUN CHED .

ough knowledge. The students who join the six month course have to

1996

appear in an examination and successful students are awarded certificates. There is no examination held for the three month course. The Usha sewing schools also provide an opportunity to women to

I NTRODUCES

DIESEL ENGINES FOR POWER

earn their livelihoods by becoming a part of the Sewing Schools net-

GE NER AT I O N .

work. Women can get their sewing schools affiliated to the Usha Sew-

2000

ing School network by conforming to the laid down norms by Usha International. Usha International Limited has instituted an award at NIFT, the premier fashion institute in the country. This award for ‘Best Garment

C OMMENCES

MARKE TING OF

W EIGHT K EROSENE

individual chapters in Mumbai, Bangalore, Chennai, Gandhinagar, Hyderabad and Calcutta. These awards have been instituted for all times to come. The winning student is presented with a cash award, a specially designed

T IE - UP C OMPANY

H UNTER F AN

WITH OF

USA

ING OF PREMIUM CEILING

FOR MARKE T -

U SHA H UNTER FANS .

2005 P URCHA SE

W ATER C OOLER

FACTORY FROM

ENGINES .

2001

trophy and citation certificate, besides an Usha Automatic Zig-Zag Sewing machine.

L IGHT

PUMPSETS

H ONDA

Construction’ is given to a student from amongst all the chapters of NIFT. In addition, smaller awards have also been instituted at the six

A NE W RANGE OF

DAIPL.

S EPTEMBER - 2 0 0 9

Penetration in important modern retail

Company has gone for both technical

comprehensive IT Security policy framed,

outlets (Future Group, Metro, Reliance)

and functional upgrade with new and

which is monitored and adhered to, so

enhanced functionalities of the system.

as to ensure that its business operations

Presence in rural India, contributing to

~ 20% of total sales

Supply Chain Network 33 warehouses leased and managed

With the enhancement of SAP appli-

are not compromised.

cation, the network setup also been upgraded from PSTN to dedicated broadband link at most of the godown loca-

tablished at Rs.80898 lakhs, while the

Similarly Online Service support soft-

corresponding Net Income from the pre-

ware has been introduced at companyâ&#x20AC;&#x2122;s

vious year stood at Rs.70725 lakhs. The

authorized service center to ensure the

Net Profit after Tax achieved was at

faster and prompt response to our valu-

THE FIRST QUARTER RESULTS FOR THE COMPANY SHOW NET INCOME OF RS.24298 LAKHS, AS ON 30TH JUNE 2009, AN INCREASE FROM RS.21396 LAKHS FROM THE PREVIOUS YEAR ON 30TH JUNE 2008. THE NET PROFIT ON 30TH JUNE 2009 STOOD AT RS.1004 LAKHS, WHICH INCREASED FROM RS.621 LAKHS FROM THE CORRESPOND-

Rs.2072 laks for the year ending 31 st

able customer.

ING QUARTER OF THE PREVIOUS

inâ&#x20AC;&#x201C;house SAP enabled across all UIL locations

(Head office, Location offices, Warehouses)

tions, to ensure effective and secure utilization of new / enhanced SAP functionalities and better response time. Supplier Relation Management ( SRM)

Financial Performance For the year ending 31st March 2009, the Net Income from Operations was es-

software has been integrated with the ERP system to enable online interaction with large vendors over the Internet.

March 2009 in comparison to a higher

Security of Information system is ac-

Net Profit of Rs.2194 lakhs from the pre-

corded top priority, A third party

vious year.

ISO17799 audit was carried last year and

YEAR.

The first quarter results for the Company show Net Income of Rs.24298 lakhs, as on 30th June 2009, an increase from Rs.21396 lakhs from the previous year on 30th June 2008. The Net Profit on 30th June 2009 stood at Rs.1004 lakhs, which increased from Rs.621 lakhs from the corresponding quarter of the previous year.

Systems and Technology Year 2001, Journey of SAP started in Usha International Ltd. with roll-out of SAP R/3 Version 4.6C across all locations leaving behind the legacy application. 16 Sales Office, 1 Plant and 20 Godown were brought on private wide area network (VPN) to get the benefit of centralized SAP application hosted on robust and reliable IBM iSeries servers at corporate office. Last year, the ERP system has been upgraded to the latest version i.e mySAP ERP-2005(ECC6) along with the robust and reliable iSeries ser vers from IBM.

S EPTEMBER - 2 0 0 9

Painting Decades The Nation’s first fire-retardant coating ‘Fyretard’ was developed for the Navy and commercial use by Noble. More recently, the first Indian Intumescent coating ‘FyrePruffe’ was developed to match similar imported coatings.

INNOVATION AND PRODUCT DEVELOPMENT HAS ALWAYS BEEN THE MAINSTAY OF NOBLE PAINTS. BESIDES THE NUMEROUS PRODUCTS DEVELOPED FOR THE ARMED FORCES, NOBLE WAS THE FIRST TO DEVELOP A UNIVERSAL BASIC STAINER (UBS) WHICH COULD BE USED TO THIN WATER BASED AS WELL AS SOLVENTBASED PAINTS.

S EPTEMBER - 2 0 0 9

Noble Paints Pvt. Ltd. was established

Never willing to rest on its laurels, Noble

Fyretard does not allow the flames to

in 1934 by the Late Mr. Jal Jamshedji in

continues to innovate. Noble was the first

spread. When subjected to a fire, Fyretard

Bombay. It was one of the first Indian

company in the country to develop fire-

forms a barrier between the flame and

paint manufacturers and is one of the

retardant coatings for defence applica-

the wood. Even after prolonged expo-

Nation’s oldest.

tions and currently specializes in fire-re-

sure to a fire, the Fyretard coating is not

tardant coatings for domestic as well as

destroyed and continues to shield the

commercial/industrial use while at the

wood substrate thereby reducing the

same time manufacturing a gamut of

spread of fire.

In these 71 years, it has been witness to the Depression, World War II, the freedom struggle, the Nation’s Independence, the first Indian President and Prime Minister, their successors, war with neighboring countries and the peace thereafter. Now in its 71st year, Noble has not forgotten the principles upon which it was built – To serve the Nation, its people and innovate.

decorative and industrial finishes.

Products

FyrePruffe ‘FyrePruffe’ from Noble Paints is an in-

Organizations are rapidly realizing the

tumescent fire-retardant paint that not

importance of fire-retarding paints. To ca-

only retards the spread of fire; it also in-

ter to this demand, Noble Paints offers

sulates the substrate from the intense heat

‘Fyretard’ fire-retardant paint and

of a fire. This coating dries quickly to a flat

‘FyrePruffe’ intumescent coating – two

matt finish having the appearance of con-

immensely effective coatings that provide

ventional matt finish paint.

But Noble has not been a mute spec-

the ultimate in fire protection to indus-

On contact with fire or excessive heat,

tator as history unfolded. Soon after its

tries, corporate houses, residences, insti-

the paint puffs up (intumesces), forming

inception in 1934, Noble had hardly got-

tutions, etc.

a thick, sponge-like cellular foam layer over

Fyretard

100 times thicker than the original paint

ten off the ground, when the world was plunged into the Second World War and the Company had an opportunity to show its mettle.

Noble Paints was commissioned by the Indian Navy in 1975 to paint its indig-

Production was stepped up for the

enously built frigates, the result –

war effort and supplies were made to

‘Fyretard’, India’s first fire-retardant paint.

the defence forces of Britain.

As the name suggests, it is a fire-re-

Then came Independence for India and

tarding paint. It consists of a non-flam-

with the cessation of imports in paints,

mable base and special additives. Unlike

Noble became a pioneering first large In-

normal paints which are flammable and

dian paint company with indigenous

aid in the spread of fire, Fyretard prevents

manufactory. Again, with the outbreak

the spread and localizes the fire giving

of war with China and Pakistan, the Com-

you time to seek help. A small fire is easier

pany took up the challenge of manufac-

to fight than an out-of-control blaze and

turing specialized coatings and paint for

the physical and financial damage done

the ordinance factories. For these efforts,

is far less.

Noble received ample appreciation from the Presidents of India.

On metal, normal paint tends to burst into flames even if not subjected to a

film. This foam layer insulates the substrate from the heat of the flame, thus retarding flame spread and delaying structural failure. Fyrepruffe is a highly specialized paint developed using imported technology and raw materials. It is meant for use on any substrate which must maintain its structural integrity in the event of a fire, such as structural steel, load bearing walls/ columns, etc. Depending on the substrate dimensions and the thickness of the paint applied, one-hour and two-hour fire ratings can

achieved

using

Noble’s

‘FyrePruffe’ in-tumescent coating.

Noble Paints is the recipient of three

flame directly. This is because the intense

Warrants of Appointment by Presidents

heat conducted through the metal is suf-

‘Fyretard AAAA’ Finishing Paint

of India for supplies to the Armed Forces.

ficient to ignite the paint and combust

‘Fyreprime AAAA’ Wood Primer

spontaneously.

‘Fyreprime AAAA’ Masonry Primer

Noble supplies to various public and private sector undertakings including

On masonry, normal coatings catch fire

some of India’s leading companies, nu-

and act as fuel. Thus, although concrete

merous government departments, the

does not burn, the paint applied to it does,

Armed Forces as well as paints for do-

aiding the spread of fire.

mestic and industrial use.

On wood, which catches fire easily,

‘Fyreprime’ Zinc Chromate Primer ‘Fyrelac’ Fire-Retarding Clear Lacquer ‘Fyretard Wood Filler’ ‘FyrePruffe’ Intumescent Coating

S EPTEMBER - 2 0 0 9

Powering the Core “ET 500” published by the Economic Times ranked DPSC Limited as the top performer among India’s power supply and distribution.

STARTED AS AN IN HOUSE POWER PLANT OF COAL COMPANIES IN THE PREINDEPENDENT ERA, DPSC HAS GRADUALLY TRANSFORMED IN TO A FULL-FLEDGED POWER GENERATING AND SUPPLY COMPANY UNDER A UNIFIED MANAGEMENT FOR SUPPLYING ELECTRICITY IN THE MINING AREA OF

BENGAL AND BIHAR. TODAY AT

DPSC LIMITED, MODERNIZATION HAS BEEN CONTINUOUS PROCESSES WITH THE OLD TECHNOLOGY JUDICIOUSLY BLENDING WITH THE NEW.

S EPTEMBER - 2 0 0 9

DPSC Limited (DPSCL) and Associated

were debarred from extending their gen-

Power Co. Ltd.,(APC) were incorporated

erating capacity and agreement for bulk

in the year 1919 Primarily to supply power

supply from Damodar Valley Corporation

to the Bengal Coal Company Ltd., then

were made in the year 1951 for supply of

the largest producer of Coal in Asia, and

power to four Receiving Stations.In 1951

also to the Railways, Industries and Town

the two companies have extended its

ships in the Asansol - Raniganj areas.In

service considerably and in 1962, agree-

the pre-Independence era, Coal compa-

ments made for bulk supply of power

nies used to maintain and operate cap-

from West Bengal State Electricity Board

tive generating plants for supply of elec-

(WBSEB) by both Companies to overcome

tric energy to their respective coal mines.

the acute shortage of power in the east-

After incorporation of the said t wo Companies, the generating plants owned

DPSC Limited is pervaded by a unique

by the coal companies for their captive

culture comprising 3 D’s - Discipline, Dedi-

use were gradually transferred to these

cation and Devotion. Over the decade,

new Companies in pursuance of an

this culture has permeated all levels of

agreed comprehensive programme of

the Organization.For Technical personnel

bringing all such plants under one uni-

at DPSC Limited, the strict adherence to

fied management for supplying of elec-

overhauling and maintenance schedules

tricity in the mining area of Bengal and

has always been a creed and constantly

Bihar.

strived to maintain its Plant Load Factor

Accordingly, DPSC Limited and APC were issued licenses for the purpose of

1919

ern region.

at a level far above the national average

DPSC L IMITED I NCORPORATED . 1932 DPSC L IMITED

GOT LICENSE FOR

GENERATION AND DISTRIBUTION OF ENERGY .

ELECTRIC

1949 E STABLISHED AT

C ENTRAL O FFICE

ITS

S ANCTORIA - A SANSOL .

of 68.5%.

1951

generation and distribution of electric

At DPSC Limited, modernization has

energy in the year 1932, 1934 respectively.

been continuous processes with the old

Since then they have been operating

technology judiciously blending with the

Power Station located at Dishergarh,

new improve performance at the plants.

Seebpore and added new plants and

The Chinakuri Power Plant, commis-

GROWING DEMANDS OF

equipment to meet the growing demand

sioned in 1991, bears testimony to the

OF CONSUMERS AND BECAME THE

of electricity. In subsequent years they

use of state-of-the-art technology. In

were converted into Public Limited Com-

1995, the ‘ET 500’ by the Economic Times

panies and APC became a wholly owned

ranked DPSC Ltd. as the top performer

subsidiar y of DPSC Limited and later

among India’s power supply and distri-

merged with the DPSC Limited in the year

bution.

1977. The licensed areas of the two Compa-

During the last 4 years the revenue of

the consumers with high tension distri-

the company has been increasing

bution mains mostly comprising of 11 KV

steadily. In the year 2005-06 it was Rs.

overhead lines and having approximate

2989.1 millions and increased to Rs.

circuit lengths of 395 km. New lines were

3,172.8 million the following year. The

being added every year for rendering in-

revenue for the year 2007-08 was in-

creased stability of supply.In 1949, the two

creased to Rs. 3,1990.0 million and the

Companies established their Central Of-

trend continued for the nex t year to

fice at Jhalbagan, Sanctoria and gradu-

Rs.3435.4 million. Gross profit of the

ally the administration and technical mat-

company has increased from Rs 409.2

ters were centralized. With the enactment

million in 2005-06 to Rs 571.1 million in

of DVC Act, 1948, the Power companies

the year 2008-09.

ENTERED INTO

DVC

AGREEMENTS WITH

S UPPLY

P OWER

FOR

B ULK

TO MEET THE

FIRST CONSUMER OF

POWER

DVC.

1962 A GREEMENTS

WBSEB

WITH

BULK SUPPLY OF

FOR

P OWERS .

1965

Financials

nies were 618 sq. km. They were serving

DPSC L IMITED

COMMISSIONED

O NE 5 MW T URBO - A LTERNATOR &

B OILER .

1975 B IHAR G OV T .

PA SSED AN

ORDINANCE , WHEREIN A LICENSED AREA OF

58- SQ .

KM . SWEPT

AWAY RENDERING THE BAL ANCED AREA OF

618

SQ . KMS .

S EPTEMBER - 2 0 0 9

A Progressive Financier To cater to varied preferences of customers, Lakshmi Vilas Bank has developed new products and service delivery techniques.

THE BANK INITIALLY ESTABLISHED AT TAMIL NADU STARTED EXPANDING ITS BOUNDARIES BEYOND THE STATE SINCE 1974 BY OPENING BRANCHES IN THE NEIGHBORING STATES OF ANDHRA PRADESH, KARNATAKA, KERALA, MAHARASHTRA, MADHYA PRADESH, GUJARAT, WEST BENGAL, UTTAR PRADESH, DELHI AND POND CHERRY. AT PRESENT, IT SPREADS OVER 14 STATES WITH A NETWORK OF 249 BRANCHES, 3 SATELLITE BRANCHES AND 6 EXTENSION COUNTERS ACROSS THE COUNTRY.

S EPTEMBER - 2 0 0 9

The Lakshmi Vilas Bank Limited (LVB)

wide base in the state of Tamil Nadu, one

was founded eight decades ago (in 1926)

of the progressive states in the country,

by seven people of Karur under the lead-

which is politically stable and has a vi-

ership of Shri V.S.N. Ramalinga Chettiar,

brant industrial environment. LVB has

mainly to cater to the financial needs of

been focusing on retail banking, corpo-

varied customer segments. The bank was

rate banking and banc assurance.

incorporated on November 03, 1926 un-

New Developments

der the Indian Companies Act, 1913 and obtained the certificate to commence

To its array of innovative products, Bank

business on November 10, 1926, The Bank

has added 4 more products – 2 savings

obtained its license from RBI in June 1958

accounts (Gold, Star Gold) and 2 current

and in August 1958 it became a Sched-

accounts (Diamond, Diamond plus) from

uled Commercial Bank.

this year. The new savings account

The Lakshmi Vilas Bank Limited (LVB) was founded eight decades ago (in 1926) by seven people of Karur under the leadership of Shri V.S.N. Ramalinga Chettiar, mainly to cater to the financial needs of

and small and medium enterprises

der the Indian Companies Act, 1913 and

Gold account can enjoy a portfolio of

obtained the certificate to commence

services, free of charges like waiver from

business on November 10, 1926, The Bank

DD/PO charges, RTGS/NEFT charges, Cash

obtained its license from RBI in June 1958

Tree ATM ser vices, Internet banking,

and in August 1958 it became a Sched-

Multicity Cheque book etc. In addition to

uled Commercial Bank.

this, Lak shmi Savings Gold account

the bank started expanding its boundaries beyond Tamil Nadu from 1974 by opening branches in the neighboring states of Andhra Pradesh, Karnataka, Kerala, Maharashtra, Madhya Pradesh,

1931 2,900 R IGHTS

1947 10,000 R IGHT

SHARES ISSUED

( PREM . R S .5/ SHARE ;

PROP .

1:1).

1953 5,000 R IGHTS

SHARES ISSUED

( PREM . R S .5/ SHARE ;

PROP .

1:4).

1957

holder can avail a free personal accident insurance of Rs.1 Lakh and Lakshmi Sav-

SHARES ISSUED AT

PA R .

(SME’s).

incorporated on November 03, 1926 un-

lenges in the competitive business world,

K ARUR , S OUTH I NDIA .

scheme for business/trading organization

The account holders of the Lakshmi

considerably. To meet the emerging chal-

WAS INCORPORATED

ings Customers and the current account

Savings Gold and Lakshmi Savings Star

Banks and raised its branch net work

T HE C OMPANY

schemes are targeted at all types of Sav-

varied customer segments. The bank was

During 1961-65 LVB took over nine

1926

12,500 B ONUS

ings Star Gold account holder can avail a

SHARES ISSUED IN

PROPORTION OF

1:2

RATIO

free personal accident insurance of Rs.2

1958

Lakhs. The average monthly minimum balances to be maintained by Lakshmi

T HE B ANK

savings Gold and Lakshmi Savings Star

THE

Gold account holders are Rs.10,000 and

IT BECAME A

B ANKING C OMPANIES A CT

AND

S CHEDULED B ANK

THE

Rs.20,000 respectively.

Gujarat, West Bengal, Uttar Pradesh, Delhi

With the newly enriched current ac-

and Pondicherry. Mechanization was in-

counts, Diamond and Diamond Plus, cus-

troduced in the Head office of the Bank

tomers can enjoy specific services free of

as early as 1977. At present, with a net-

charge Viz collection of outstation cheque

work of 249 branches,3 satellite branches

drawn on LVB centre, cash remittance,

and 6 extension counters, spread over

RTGS/NEFT, Net banking facility, SMS

14 states and the union territor y of

alerts, Folio charges. These customers can

Pondicherry, the Bank’s focus is on cus-

also enjoy the power of multicity cheque

tomer delight, by maintaining high stan-

drawn, besides getting weekly e-mail

dards of customer service and amidst all

statements etc. The average monthly mini-

these new challenges, the bank is pro-

mum balance that needs to be main-

gressing admirably. LVB has a strong and

tained for Lakshmi Current Diamond and

WA S LICENSED UNDER

SAME YEAR .

1960 12,500

RIGHTS SHARES ISSUED

( PREM . R S .10/ SHARE ;

PROP .

1:3)

1961 I N O CTOBER , TILE

THE

K ARUR M ERCAN -

B ANK , L TD . K ARUR ,

AMALGAMATED WITH THE ORDERED BY THE

WAS

B ANK ,

C ENTRAL G OV -

ER NMEN T .

Lakshmi Current Diamond Plus custom-

S EPTEMBER - 2 0 0 9

ers are Rs.5 Lakhs and Rs.10 Lakhs re-

was pegged at 1.24 % as on March 31,

spectively.

2009.

Besides these products the bank is also introducing mobile banking and SMS alert

Growth

services. With the SMS alert facility, cus-

The Bank on a year-on-year basis (up

tomers can get daily balance alerts in the

to December 2008) has clocked eighteen

morning or when a particular amount is

percent growth in total business. In com-

debited or credited in his account. With

parison, this growth pales in to insignifi-

Mobile banking facility, the customers can

cance. Banking system is growing at a very

be updated regarding their accounts by

healthy 25 percent (plus) rate.

balance enquiry, mini statement etc. The

The Bank’s network has increased to

bank has been continuously adding in-

251 branches spread across 15 States /

novative products to its portfolio.

Union Territories. ATM network is mas-

Financials

sive with its entry in to the Cash Tree arrangement. Technology base is strong.

1962 1,191

SHARES ISSUED TO

MEMBERS OF

K ARUR M ERCAN TILE

B ANK , L TD .

ON ITS MERGER .

As on 30th June 2009 the bank earned

Man power at branches and offices is

a total income of Rs 23544.31 lakhs.

strengthened. The Bank is focused well

1964

While the profits from the ordinary ac-

on training needs of all our staff mem-

I N 1964, S ALEM G UGAI S REE

tivities before tax stood at Rs 3393.28

bers. Imparting required knowledge

K RISHNA B ANK , L TD ., S ALEM ,

lakhs. In the same way the net profits for

through in-house training system and

WA S

the period stood at Rs 2266.28 lakhs. In

through external resources has received

the previous quarter the Bank’s business

prime attention. To cater to varied prefer-

had crossed Rs. 12,606 Crores as on

ences of customers, Bank has developed

March 31, 2009. The Bank earned a Net

new products and service delivery tech-

profit of R s. 50.30 Crores. The Net

niques. It is on its way continuously modi-

owned Funds of the Bank reaches Rs.

fying its products, services & technology

453.70 Crores. With a fairly good quality

to meet customer preferences.

of loan assets the Net NPA of the bank

AMALGAMATED WITH THE

B ANK .

N EGOTIATIONS

WERE

BEING CARRIED ON WITH SOME OTHER BANKING CONCERNS FOR A M A LG A M AT IO N .

1971 37

SHARES ISSUED .

1974 1,52,504

SHARES ISSUED

( PREM . R E .1

PER SHARE ).

1982 1,14,388

RIGHT EQUITY SHARES

ISSUED IN PROPORTION OF

1:2.

1986 3,43,164

RIGHTS EQUITY

SHARES ISSUED AT PAR IN PROPORTION OF

1:1.

1997 M R K. R AGHUNATH S HENOY

HA S

BECOME THE CHIEF E XECUTI VE OFFICER AND

C HAIRMAN

L AKSHMI V IL A S B ANK .

S EPTEMBER - 2 0 0 9

Measuring Money Needs Karnataka Bank took shape in the aftermath of patriotic zeal that engulfed the nation during the freedom movement of 20th Century India.

WITH OVER 85 YEARS OF EXPERIENCE THE KARNATAKA BANK IS AT THE FOREFRONT OF PROVIDING PROFESSIONAL BANKING SERVICES AND QUALITY CUSTOMER SERVICE.

TODAY IT HAS A NATIONAL PRESENCE WITH A NETWORK OF 455 BRANCHES SPREAD ACROSS 20 STATES AND 2 UNION TERRITORIES.

S EPTEMBER - 2 0 0 9

Karnataka Bank Limited, a leading ‘A’ Class Scheduled Commercial Bank in In-

3966.87 crore. The net NPA stood at 0.98% at the end of March 2009.

dia, was incorporated on February 18th,

The net profit of the Bank rose to

1924 at Mangalore, a coastal town of

Rs.266.70 crore from Rs. 241.74 crore and

Dakshina Kannada district in Karnataka

posted an operating profit of Rs. 480.21

State.

crore during 2008-09.

The bank took shape in the aftermath

The capital funds of the Bank increased

of patriotic zeal that engulfed the nation

from Rs.1618.73 crore to Rs.1991 crore,

during the freedom movement of 20th

registering a growth of 23%.

Century India.

The Capital Adequac y Ratio of the

Over the years the Bank grew with the

Bank stood at 13.48% at the end of the

merger of Sringeri Sharada Bank Ltd.,

fiscal 2008-09. This is well above RBI’s

Chitradurga Bank Ltd. and Bank of

prescription of 9%. During the year 2008-

Karnataka. Managed by a dedicated &

09, the Bank achieved foreign exchange

professional management team, it has

business turnover of Rs. 7850.65 crore

over 4,900 employees, 71,822 share-

as against Rs.7836.62 crore for the pre-

holders and over 3.7 million customers.

vious year.

Today, the Bank has emerged as a leading financial service institution in India.

Financial Performance The performance of Karnataka Bank during the financial year 2008-09 has registered satisfactory progress in important areas like deposits, advances, recovery of impaired assets, profitability, geographical presence with new branches and their networking, etc. As on 30th June 2009 the bank had earned an amount of Rs 47728 lakhs as interest on deposits. Income on invest is set at Rs 14500 lakhs during the same quarter, while the total income of the bank stood at Rs 60967 lakhs for the same period.

Thane,

Mumbai-Vile

F EBRUARY

DAY OF

M A N G A LO R E . 1952 OF EQUITY SHARES

ISSUED AT PAR .

1958

Parle,

Bommasandra, Bangalore-Chandra Lay-

T HE B ANK

out, Bangalore-Sadashivanagar, Mysore-

SECOND SCHEDULE WITH EFFECT

J P Nagar, Belgaum-Udyambag (Extension Counter upgraded), New Delhi-East

WA S INCLUDED IN THE

11 TH J ANUARY

FROM

UPGRADED FROM

of Kailash, Bangalore-Yelahanka New

‘C’

Town, Pune-Dhankawadi, Doddaballapur, Uppal Kalan, Bellandur and Hoskote. As on March 31, 2009, the Bank had 447 branches, 171 ATM outlets, 8 Re-

‘D’

AND

CL ASS TO

CL ASS .

1963 RS 5

PER SHARE WA S CALLED - UP

ON THE

25,000

gional Offices, One International Divi-

SHARES ISSUED

1952.

sion, One Data Centre, One Customer

1964

Care Centre, 5 Service branches, 2 Currency Chests, 6 Extension Counters and

T HE B ANK

two Central Processing Centers, spread across 19 States and 2 Union Territories. proved customer service, the Bank shifted

Deposits have increased to Rs. 20333.29

15 branches/offices to new premises,

crore at the end of March 2009 from Rs.

during the year 2008-09. The Bank pro-

17016.19 crore during the same period

poses to pay a dividend of 60% for the

last year thus recording a growth of 19.49

year ended March 31, 2009.

%. Advances have touched Rs.11810.05

Technology Initiatives The Bank which is tech sav v y had launched a slew of technology backed

The advances to priority sector have

products over the years - services such

increased to Rs. 4372.16 crore from Rs.

as online shopping facility through

18 TH

THE

Moradabad, New Delhi-Karol Bagh,

Rs.32,143 crore as at 31st March 2009.

ing a rise of 8.93%.

WA S INCORPORATED ON

25,000 N O .

Further, for better ambience and im-

10841.97 crore as on 31.03.2008 indicat-

T HE B ANK

The Bank opened 16 new branches at

The Bank’s total business was at

crore at the end of the year as against Rs.

1924

TOOK OVER THE ASSETS

AND LIABILITIES OF THE

C HITALDURG B ANK L TD . 1966 T HE B ANK

TOOK OVER THE ASSETS

AND LIABILITIES OF THE

B ANK

K ARNATAK A L TD ., H UBLI CONSEQUENTLY OPENED

AND

NE W

BRANCHES IN PL ACES WHERE THE

B ANK

K ARNATAK A L TD .,

FORMERLY

WA S

FUNCTIONING .

S EPTEMBER - 2 0 0 9

MoneyClick payment gateway and KBLQuikRemit (a web based inward remittance facility) which enables NRIs residing in Canada, UK & USA effect remittance from abroad.

Risks and concerns

Human Resources It is my strong belief that human beings are critical to the success of any organisation, especially in the case of banking industry. Efforts are being made to give appropriate training to the staff to improve their skills for efficient service

While Indian banks have limited direct exposure to the international markets for mortgage linked securities, they are unlikely to be completely insulated from the turmoil in the global financial markets. Reduced availability of global finance through external commercial borrowings on the back of rising risk aversion in the global markets could affect domestic growth. The Bank as a financial intermediary is exposed to various kinds of risks both financial and non-financial. With the expansion both in size and business, the Bank has established a comprehensive

to customers. Per Employee Turnover of your Bank has increased from Rs.5.89 crore during 2007-08 to Rs.6.49 crore during the year

RS 5

Future Plans

DURING THE YEAR MAKING THE

The Corporate Plan for 2009-10 envis-

risks through appropriate risk-return pat-

PER SHARES CALLED - UP

SHARES FULLY CALLED - UP .

ages a business turnover of Rs.39000 crore with deposits of Rs.24, 000 crore & Advances of Rs.15, 000 crore and a

1989 T HE C OMPANY

OPENED A MER -

CHAN T BANKING DIV ISION DURING

turnover per employee of Rs. 7.09 crore.

THE YEAR .

Similarly it has a grand plan to open 475 branches and 200 ATMs and strive to

2000

achieve much better profits.

K ARNATAK A B ANK

Accolades

STRATEGIC

risk management structure in tune with the RBI guidelines for managing various

1970

2008-09.

In recognition of the optimal technol-

INITIATED A

TECHNOLOGY

I NFOSYS T ECHNOLOGY

WITH THE

tern which helps in maximizing sharehold-

ogy

Mangalore-based

LIMITED.

ersâ&#x20AC;&#x2122; value.

Karnataka Bank Limited has won the pres-

2002

utilization,

The risks faced by the Bank mainly are

tigious Sun and NDTV Green IT award at

Credit Risk, Market Risk and Operational

a glittering ceremony held at Mumbai re-

Risk, besides other residual risks such as

cently.

Liquidity Risk, Reputation Risk etc. Your

In view of the paramount importance

Bank has put in place a sound Risk Man-

of creating a sustainable planet for our

agement System under the supervision

children and their generations to come,

of the Board of Directors for identifica-

Sun Microsystems and NDTV have taken

tion, measurement, monitoring and

initiatives to recognize organizations

management of these risks.

which have pledged their positive com-

A Board level Integrated Risk Manage-

mitment to the planet and engage in eco-

ment Committee periodically reviews the

efficient green Technologies to run their

risk profile of the Bank, evaluates the over-

business.

all risks faced by the Bank, and develops

Sun Microsystems and NDTV have the

policies and strategies for their effective

Bankâ&#x20AC;&#x2122;s implementation of core banking

management.

in rural branches using thin clients, solar

The Bank has clearly chalked out its

power modules and VSAT connection

plan for Basel II implementation in line

thereby reducing the power and carbon

with the RBI guidelines and we are happy

footprint accounting for global warm-

to report that your Bank is Basel II compli-

ing , a burning issue all over the world.

ant as at 31st March 2009.

L AUNCHES

TIE - UP

MULTI - BRANCH BANKING

SYSTEM IN

CITIES .

2003 R EDUCES R ATES

P RIME L ENDING

ITS

0.50

PLR

NOW THE

PERCENT , AND

WILL BE

12%.

2004 K ARNATAK A B ANK SOLUTION IN

DEPLOYS FINACLE

M ANGALORE

BRANCH

2005 K ARNATAK A B ANK IN

OPENS BRANCH

D ELHI

2006 K ARNATAK A B ANK CDSL-DP

L AUNCHED

SERV ICES AT SELECT BRA N CHE S .

S EPTEMBER - 2 0 0 9

Assisting Finance State Bank of Mysore secured “Second Best Bank” award in the State of Karnataka instituted by NABARD under the Commercial Banks Category for the year 2007- 08.

THE STATE BANK OF MYSORE HAS PROPOSED TO REACH A BUSINESS LEVEL OF OVER RS.75, 000 CRORES DURING THE YEAR 2009-10 AT A GROWTH RATE OF AROUND 30PERCENT. THE BANK PROPOSES TO OPEN 43 (FORTY THREE) NEW BRANCHES AND 2 (TWO) SPECIALIZED BRANCHES TO SUPPORT THE ENVISAGED GROWTH.

S EPTEMBER - 2 0 0 9

State Bank of Mysore was established

on account of growth of around 10 per-

in the year 1913 as Bank of Mysore Ltd.

cent in net interest income and an increase

under the patronage of the erstwhile

of 13.79 percent in other income.

Priority Sector advances Priority sector advances constituted 40.76percent of Adjusted Net Bank

Govt. of Mysore, at the instance of the

Interest on Advances grew, year on

Credit as at 31st March 2009 and the

banking committee headed by the great

year, by 32.74 percent on the back of

Bank has surpassed the bench-mark of

Engineer-Statesman,

Sir

growth of 21.40 percent in the loan port-

40percent .

M.Visvesvaraya. Subsequently, in March

folio. Interest on investments increased,

1960, the Bank became an Associate of

year on year, by 21.59 percent. The In-

State Bank of India. State Bank of India

come from Sale and Purchase of Securi-

holds 92.33 percent of shares. The Bank’s

ties increased to Rs.121.22 crores record-

Late

Dr.

shares are listed in Bangalore, Chennai,

ing a grow th of over 51 percent. The

and Mumbai stock exchanges.

growth in Staff Expenses was contained

The Bank has a widespread network

at 13.92 percent, while other Operating

of 671 branches (as on 31.01.2009) and

Expenses increased by 0.43 percent, year

20 extension counters spread all over In-

on year.

The loans to Agricultural Segment had a satisfactory growth of 31.88 percent. Small Business Segment achieved a big growth of 35.16 percent. The Bank has achieved the Government of India (GOI) stipulated target of doubling SME credit as on 31.03.2005 well ahead of the deadline of March 2010 fixed by GOI. Loans to Housing Sector moderated

dia which includes 6 specialized SSI

The Return on Assets was at 0.91 per-

branches, 4 Industrial Finance branches,

cent and Return on Equity was at 20.16

3 Corporate Accounts Branches, 4 spe-

percent. Net Worth of the Bank increased

cialized Personal Banking Branches, 10

to Rs.1619.44 Crores from Rs. 1341.09

an increase of 42.70 percent.

Agricultural Development Branches, 3

Crores representing a growth of 20.75

Treasur y branches, 1 A sset Recover y

percent. The Bank has been BASEL – II

Agiculture Finance

Branch and 7 Service Branches, offering

compliant since 31st March 2008 and

wide range of services to the customers.

Capital to Risk weighted assets (CRAR)

The Bank has a dedicated workforce

under Basel II, which was at 11.73 percent

of 9720 employees consisting of 3169 su-

as on 31st March 2008 increased to 13.38

per visor y staff, 6551 non-super visor y

percent against the regulatory benchmark

staff (as on 31.03.2008). The skill and

of 9 percent.

competence of the employees have been

The Bank’s Share, which hitherto was

kept updated to meet the requirement of

at a face value of Rs.100, stands split to

our customers keeping in view the

Rs.10 with effect from 22nd Januar y

changes in the environment.

2009. Consequently the Earnings Per

Financial Profile

Share (EPS) stands at Rs.94/- (EPS on Rs.100 share was at Rs.886/- in March,

due to economic downturn. Educational Loans however witnessed

Agricultural advances continued to receive high priority and have recorded a grow th of 31.88 percent to reach Rs.3839 Crores. The Bank has achieved the stipulated bench mark of 18percent. Bank’s advances to agriculture in Karnataka stood at Rs.3026 Crores and constituted 25.50 percent of the total advances of the bank in the State. The Agriculture Debt Waiver and Debt Relief Scheme 2008 of Government of India has been implemented by the Bank.

Aggregate Deposits increased from

2008). The Book Value of a share stood

1,09,957 beneficiaries were extended

Rs.26781 Crores in March, 2008 to

at Rs.449/- (Rs.3725/- in March 2008 for

the benefit under the scheme to the tune

Rs.32388 Crores in March, 2009 regis-

a share of Rs.100 face value). “Business

tering a grow th of 20.94percent

per Employee” has risen from Rs.502

(Rs.5607 Crores).

Lakhs in March, 2008 to Rs.608 Lakhs in

The Forex turnover of the Bank crossed

March, 2009.

Rs.336963.50 Millions during the year

Advances

March 2007 to March 2008 which is

The total advances of the Bank reached

44.66 percent higher.

Rs.25880 Crores in March 2009, regis-

Operating profit

tering a growth of 21.42 percent for the

The Operating Profit increased to

year.

Rs.653.52 Crores as on 31st March 2009

Credit deposit ratio

from Rs. 567.52 Crores as on 31st March,

The Credit Deposit ratio stood at 79.91

2008. The increase in Operating Profit is

percent as at March 31st, 2009.

of Rs.353 Crores.

Housing loans In order to give a boost to the economy and support the flagging construction sector, Government of India announced several fiscal measures and the Indian Banks’ Association formulated a special package for small housing loans. The Bank in response introduced a Special Home Loan Scheme offering the following concessions/incentives for new Homes; Rate of Interest is at 8.5 percent S EPTEMBER - 2 0 0 9

for loans up to Rs.5 Lakhs and Rs.9.25 percent for loans of Rs.5 Lakhs to Rs.20 Lakh. • Free insurance cover on borrower’s life for the loan outstanding. • No processing fees and pre-payment charges/penalty.

Special Package for MSME In response to the Stimulus package initiatives of Government of India, the Bank extended the following concessions/ relaxations to MSME units. Reduction in the rate of Interest on

working capital limits Sanction of Ad-hoc limits

NPA Management Despite slowing down of the economy, which affected almost all the segments of business, NPAs have been controlled and is at Rs.368 crores from Rs.359 crores as at March ’08. While the Gross NPA ratio declined from 1.68 per-

Restructuring of loans

Booking Nano Car

Rural Bank, as on 31st March 2009, stood at Rs.1466 Crores and Rs. 1144 Crores respectively. The Regional Rural Bank has been earning profit. The Bank has computerized all its branches.

Future Plans

cent in March, 2008 to 1.42 percent in March, 2009, the Net NPA ratio stands at 0.50 percent.

The Bank proposes to reach a business level of over Rs.75,000 Crores during the year 2009-10 at a growth rate of

Technology Value added services such as e –payment of direct & indirect taxes and transfer of funds through Real Time Gross Settlement, National Electronic Funds Transfer extended at all branches.

Relaxation in cash margins on Letters

of Credits/Guarantees

deposits and advances of the Regional

ATMs The Bank has installed 62 ATMs during the year. Bank’s 381 ATM’s are networked with the State Bank Groups’ over

around 30percent. The Bank proposes to open 43 (forty three) new Branches and 2 (two) Specialized Branches to support the envisaged growth. The Bank would be setting up 3 (three) Specialized Central Processing Centers under BPR initiatives. The Bank plans to install 450 Automated Teller Machines (ATMs).

Smart Cards

The Bank has entered into tie-up ar-

11400 ATMs allowing easy access to any-

To promote Branch-less Banking, Smart

rangement with Tata Motors for financ-

where anytime banking. Payment of Elec-

Cards have been put in place facilitating

ing the new NANO car. The Bank is fi-

tricity Bills/Telephone Bills/Credit Card

customers to transact banking business

nancing 100 percent for booking of cars.

payment bills etc., are enabled in internet

in remote places under the Business Cor-

banking and through ATM’s of the Bank.

respondent Model. The Smart Card

Financing Self Help Groups

On Line Trading facilities for making in43561 groups were covered during the year with a credit assistance of Rs.281 Crores during the year, with a cumulative

vestments in Capital Market, D-Mat and Depository facilities are made available

The Bank opened 20 (twenty) General

101 percent in terms of the amount dis-

Banking Branches, 9 (nine) Centralized

bursed.

Processing Centers, 1 (one Zonal Office)

The Bank secured “Second Best Bank”

and 2 (two) Regional Offices during the

award in the State of Karnataka instituted

year. The total branch net work of

by NABARD under the Commercial Banks

branches as on March 2009 stood at 674

Foreign Exchange Business

Mobile Banking The Bank proposes to start mobile

Branch Expansion

a growth of 124 percent in numbers and

Category for the year 2007- 08.

District on a pilot basis.

in designated branches.

coverage of 78580 groups and credit assistance of Rs.559 Crores. This represents

scheme has been introduced in Tumkur

banking services after obtaining approval of the RBI.It is the aim to emerge as the Bank of 1st Choice in Karnataka; to attract young and new customers and at the same time retain the existing customers. New IT enabled services and products are being introduced to suit the needs of all customers.

Regional Rural Banks The Cauver y Kalpatharu Grameena

The Foreign Exchange profit for the

Bank is sponsored by State Bank of

year is at Rs.44.39 crores. Export Credit

Mysore. The bank has its Head Office at

was impacted due to the global scenario

Mysore, and is covering Tumkur, Mysore,

and showed only marginal growth over

Hassan, Chamarajanagar, Bangalore Ur-

the previous year.

ban and Bangalore Rural Districts, having a network of 210 branches. The total

S EPTEMBER - 2 0 0 9

Power Up! Ask any Indian consumer to name a Battery and the first brand that comes to mind is Eveready. Not just among batteries, Eveready is a powerful brand across categories.

EVEREADY INDUSTRIES LTD. HAS A PORTFOLIO COMPRISING DRY CELL BATTERIES (CARBON ZINC BATTERIES, RECHARGEABLE BATTERIES AND ALKALINE BATTERIES), FLASHLIGHTS (TORCHES), CFLS (COMPACT FLUORESCENT LAMPS) AND PACKET TEA. RECENTLY IT HAS ALSO FORAYED INTO THE MOSQUITO REPELLENT INDUSTRY.

S EPTEMBER - 2 0 0 9

EIIL started its operation in India in the

independent

brand

consultanc y

year 1905. The first dry cell batteries were

Vertebrands, show Eveready scoring a

imported from USA and sold in the ma-

near-per fect 99% total awareness

jor cities of the country. These batteries

among Target Consumers.

were primarily used in imported torches.

As per Vertebrands’ survey, on a 10-

In 1939, the company set up its first

point scale, Eveready scored 8 on popu-

battery plant in Kolkata. This was followed

larity and 7.7 on contemporariness. Of

by another battery manufacturing plant

all consumers surveyed, 41% called it

in Chennai in the year 1952. To boost up

“The Only Brand for Me”.

the market for batteries, a torch manu-

In the A AUTS (Awareness, Attitude,

facturing plant was set up at Lucknow in

Usher-ship Tracking Study) conducted

the year 1958. Today it is one of the larg-

by AC Nielsen in the year 2007-2008 ,

est torch manufacturing plants in South

Eveready emerged with a Brand Equity

East Asia. The plant manufactures the full

of 7.5 out of 10 and the nearest com-

range of brass, aluminium and plastic

petitor came up with 3.7.

torches.

1905 N ATIONAL C ARBON I NDIAN

STARTS ITS

OPERATIONS WITH SALE OF

BATTERIES IMPORTED FROM

USA.

1926

The same study by AC Nielsen showed

“Give Me Red” - the advertising byline

Eveready having 45% market share vis-

E VER R EADY C OMPANY I NDIA

of the popular Red series of batteries, is

à-vis its nearest competitor having

UP THE FIRST ARC CARBON FACTORY

today symbolic of the empowered urban

30% (2007-2008).

lifestyle that the brand reflects. The original, path-breaking campaign won as

For the year ending 30 March 2009,

rent television commercial on Eveready

Eveready Industries recorded a Total In-

Ultima, which has explored and demon-

come of Rs.86,049.40 lakhs, with a Net

strated the technique of light painting

Profit of Rs.1,940.22 lakhs.

(through the TVC) has been very well received and is a one of its kind commerunmatched consumer confidence is also

on a Term Sheet with France based com-

reflected through the various accolades

pany, CG Holding. The investment was

that the company has got over the years.

both by way of equity and debt up to a overseas JV/Special Purpose vehicle, which in turn would acquire a substantial

tr y (CII)’s ‘Brand of the year’ 2005

controlling stake (minimum 80%) of the

shortlist, Eveready made the top ten

share capital of a French Company,

finalists list, along with brands like

Uniross SA, which is engaged in the busi-

Nokia, HP, Titan, Dabur and five other

ness of manufacturing and distribution

Hindustan Lever Brands.

of rechargeable batteries and allied products.

LISHED AT

C OSSIPORE

K OLK ATA .

1951 R ENAMED

I NDIA L TD ,

U NION C ARBIDE A SUBSIDIARY OF

WORLD WIDE MULTINATIONAL ,

U NION C ARBIDE C ORPORATION . 1958 C OMPANY

SET IT ’ S TORCH MANU -

FACTURING PL AN T IN

L UCKNOW , ONE

OF THE L ARGEST IN SOUTH

N AME TO

OF THE COMPANY CHANGED

U NION C ARBIDE I NDIA L IMITED . 2000

Uniross SA and its subsidiar y/group

B ISHNAUTH T EA C OMPANY

The Economic Times’ Brand Equity sur-

various parts of the world and needless

WITH

vey of Brands by Sales, April 2004, put

to the say that if the transaction is con-

Eveready at no. 22 across brands in all

cluded, the company will be able to in-

categories.

crease its market share and strengthen

Scores in the CII survey done by the

its position.

A SIA .

1959

companies have businesses spread over

of growth in the year 2004-2005.

FIRST

MODERN BATTERY PL AN T ESTAB -

maximum value of 10 Million Euro in an

In the Confederation of Indian Indus-

among all FMCG companies in terms

C AMPERDOWN W ORKS -

Joint Venture Eveready Industries India Ltd. signed

As per AC Nielsen, Eveready stood 7th

1939

cial in the entire batteries segment. The

Highlights

C ANAL R OAD , K OLK ATA .

Financial Performance

many as 11 advertising awards. The cur-

SETS

MERGED

E VEREADY I NDUSTRIES I NDIA LTD. 2005

B RAND EVEREADY

TURNS

100.

S EPTEMBER - 2 0 0 9

Secured Banking Today, with its efficient, value-added services, sustained growth, consistent profitability and development of new technologies, Union Bank has ensured complete customer delight, living up to its image of “GOOD PEOPLE TO BANK WITH”.

THE DAWN OF TWENTIETH CENTURY WITNESSED THE BIRTH OF A BANKING ENTERPRISE PAR EXCELLENCE- UNION BANK OF INDIA - THAT WAS FLAGGED OFF BY NONE OTHER THAN THE FATHER OF THE NATION, MAHATAMA GANDHI. SINCE THAT GOLDEN MOMENT, UNION BANK OF INDIA HAS THIS FAR UNFLINCHINGLY TRAVELLED THE ARDUOUS ROAD TO SUCCESSFUL BANKING; A JOURNEY THAT SPANS 88 YEARS.

S EPTEMBER - 2 0 0 9

Union Bank of India reiterates the objectives of their inception to the profound

is a front runner among public sector banks in modern-day banking trends.

thoughts of the great Mahatama - “We

It is one of the pioneer public sector

should have the ability to carry on a big

banks, which launched Core Banking So-

bank, to manage efficiently crores of ru-

lution in 2002. Under this solution um-

pees in the course of our national activi-

brella, All Branches of the Bank have

ties. Though we have not many banks

been net worked through 1135 ATMs,

amongst us, it does not follow that we

with online Tele-banking facility made avail-

are not capable of efficiently managing

able to all its Core Banking Customers -

crores and tens of crores of rupees.”

individual as well as corporate. In addi-

Union Bank of India is firmly committed

tion to this, the versatile Internet Banking

to consolidating and maintaining its iden-

provides extensive information pertain-

tity as a leading, innovative commercial

ing to accounts and facets of banking.

Bank, with a proactive approach to the

Regular banking services apart, the cus-

changing needs of the society. This has

tomer can also avail of a variety of other

resulted in a wide gamut of products and

value-added services like Cash Manage-

services, made available to its valuable

ment Service, Insurance, Mutual Funds

clientele in catering to the smallest of their

and Demat.

1919 UBI

WA S REGISTERED ON

11, 1919

BER

INAUGURATED BY

Total Business increased from Rs.179737

profitability and development of new

Cr. to Rs.236968 Cr. - an increase of

technologies, Union Bank has ensured

31.84 %

complete customer delight, living up to

Total Deposits increased by an impres-

its image of, “GOOD PEOPLE TO BANK

sive 33.55%, from Rs.103859 Cr. to

WITH”. Anticipative banking - the ability

Rs.138703 Cr.

ahead of real-time - forms the vital ingredient in value-based services to effectively reduce the gap between expectations and deliverables. The key to the success of any organisation lies with its people. No wonder, Union Bank’s unique family of about 26,000 qualified / skilled employees is and ever will be dedicated and delighted to serve the discerning customer with

Core Deposits grew from Rs.85739 Cr.

UBI

M UMBAI

The Bank outperformed its guidance of Rs.220000 crore by achieving a busi-

Union Bank is a Public Sector Unit with 55.43% Share Capital held by the Gov-

reached a level of Rs.98265 crore, a

ernment of India. The Bank came out with

growth of 29.50%.

- 3

S AURA SHTRA ,

CEN T R E S .

1975 T HE G OVERNMENT UBI. A T

NATIONALIZED

THE TIME OF ITS NATION -

ALIZ ATION ,

UBI

HAD

BRANCHES IN

240

STATES .

1930 A PRIVATE LISHED .

UBI

SECTOR BANK ESTAB -

A FTER

MERGED IN

ness mix of Rs.236968 crore by end of Mar’09, a growth of 31.84%.

BRANCHES

ALL CONCENTRATED IN KE Y TRADE

Rs.75878 Cr. to Rs.98265 Cr. - an in-

crore, a growth of 33.55% and Advances

NATIONALIZ ATION ,

B ELGAUM B ANK , .

1985 UBI

MERGED IN

B ANK ,

M IRA J S TATE

ESTABLISHED IN

1929.

2007 UBI

its Initial Public Offer (IPO) in August 20,

The Bank’s advances growth has been

2002 and Follow on Public Offer in Feb-

fuelled by its 4 growth engines; MSME

ruary 2006. Presently 44.57 % of Share

advances grew by 31.91% to Rs.16149

Capital is presently held by Institutions,

crore, Retail advances grew by 28.79%

Individuals and Others.

to Rs10092 crore, Agricultural advances

UBI

grew by 17.84%, while Corporate ad-

K ONG ,

AND

Gross Advances have increased from

crease of 29.50%

HAD ONLY

of 44.75%

professionalism and wholeheartedness.

the reputation of being techno-savvy and

M AHATMA

GANDHI.

to Rs.124103 Cr. - an impressive growth

Deposit s have reached R s.138703

Over the years, the Bank has earned

WAS

1947

Financial Performance

ser vices, sustained grow th, consistent

to gauge the customer’s needs well

AS A LIMITED

M UMBAI . I T

COMPANY IN

needs. Today, with its efficient, value-added

N OVEM -

OPENED

OFFICES IN

REPRESENTATI VE

A BU D HABI , UAE,

AND

S HANGHAI , C HINA . 2008 OPENED A BRANCH IN THE FIRST OUTSIDE

H ONG I NDIA .

vances grew by 35.95%. S EPTEMBER - 2 0 0 9

Leveraging Good Life In the summer of 1888, visitors to the Kolkata harbour noticed crates full of Sunlight soap bars, embossed with the words “Made in England by Lever Brothers”. With it began an era of marketing branded Fast Moving Consumer Goods.

HINDUSTAN UNILEVER WAS RECENTLY RATED AMONG THE TOP FOUR COMPANIES “GLOBAL TOP COMPANIES FOR LEADERS” BY A STUDY SPONSORED BY HEWITT ASSOCIATES, IN PARTNERSHIP WITH FORTUNE MAGAZINE AND THE RBL GROUP. THE COMPANY WAS RANKED NUMBER ONE IN THE ASIA-PACIFIC REGION AND IN INDIA. GLOBALLY IN THE LIST OF

S EPTEMBER - 2 0 0 9

Hindustan Unilever Limited (HUL) is

the market in 1937.

stake in the joint venture to the company.

India’s largest Fast Moving Consumer

In 1931, Unilever set up its first Indian

HUL formed a 50-50 joint venture with

Goods Company, touching the lives of

subsidiary, Hindustan Vanaspati Manu-

the US-based Kimberly Clark Corporation

two out of three Indians with over 20

facturing Company, followed by Lever

in 1994; Kimberly-Clark Lever Ltd, mar-

distinct categories in Home & Personal

Brothers India Limited (1933) and United

kets Huggies Diapers and Kotex Sanitary

Care Products and Foods & Beverages.

Traders Limited (1935). These three com-

Pads. HUL has also set up a subsidiary in

The company’s Turnover is Rs.20,239

panies merged to form HUL in November

Nepal, Unilever Nepal Limited (UNL), and

crores (for the 15 month period – Janu-

1956; HUL offered 10% of its equity to

its factory represents the largest manu-

ary 2008 to March 31, 2009) .

the Indian public, being the first among

facturing investment in the Himalayan

HUL is a subsidiary of Unilever, one of

the foreign subsidiaries to do so. Unilever

kingdom. The UNL factory manufactures

the world’s leading suppliers of fast mov-

now holds 52.10% equity in the com-

HUL’s products like Soaps, Detergents and

ing consumer goods with strong local

pany. The rest of the shareholding is dis-

Personal Products both for the domestic

roots in more than 100 countries across

tributed among about 360,675 indi-

market and exports to India.

the globe with annual sales of •40.5 bil-

vidual shareholders and financial insti-

lion in 2008. Unilever has about 52%

tutions.

shareholding in HUL.

As a measure of backward integration, Tea Estates and Doom Dooma, two plan-

Brooke Bond joined the Unilever fold

tation companies of Unilever, were

Hindustan Unilever was recently rated

in 1984 through an international acquisi-

merged with Brooke Bond. Then in July

among the top four companies globally

tion. The erstwhile Lipton’s links with In-

1993, Brooke Bond India and Lipton In-

in the list of “Global Top Companies for

dia were forged in 1898; Unilever acquired

dia merged to form Brooke Bond Lipton

Leaders” by a study sponsored by Hewitt

Lipton in 1972, and in 1977 Lipton Tea

India Limited (BBLIL), enabling greater fo-

Associates, in partnership with Fortune

(India) Limited was incorporated.

cus and ensuring synergy in the tradi-

magazine and the RBL Group. The com-

Since the very early years, HUL has vig-

tional Beverages business. 1994 wit-

pany was ranked number one in the Asia-

orously responded to the stimulus of eco-

nessed BBLIL launching the Wall’s range

Pacific region and in India.

nomic growth. The growth process has

of Frozen Desserts. By the end of the year,

The mission that inspires HUL’s more

been accompanied by judicious diversifi-

the company entered into a strategic alli-

than 15,000 employees, including over

cation, always in line with Indian opin-

ance with the Kwality Ice Cream Group

1,300 managers, is to “add vitality to

ions and aspirations.

families and in 1995 the Milkfood 100%

life”. The company meets everyday needs

The liberalisation of the Indian

for nutrition, hygiene, and personal care,

economy, started in 1991, clearly marked

with brands that help people feel good,

Ice Cream marketing and distribution rights too were acquired.

an inflexion in HUL’s and the Group’s

Finally, BBLIL merged with HUL, with

look good and get more out of life. It is a

growth curve. Removal of the regulatory

effect from January 1, 1996. The internal

mission HUL shares with its parent com-

framework allowed the company to ex-

restructuring culminated in the merger of

pany, Unilever, which holds 52.10% of

plore every single product and opportu-

Pond’s (India) Limited (PIL) with HUL in

the equity.

nity segment, without any constraints on

1998. The two companies had significant

History

production capacity.

overlaps in Personal Products, Speciality

In the summer of 1888, visitors to the Kolkata harbour noticed crates full of Sunlight soap bars, embossed with the words “Made in England by Lever Brothers”. With it began an era of marketing branded Fast Moving Consumer Goods (FMCG).

In one of the most visible and talked about events of India’s corporate history, the erst while Tata Oil Mills Company (TOMCO) merged with HUL, effective from April 1, 1993. In 1995, HUL and yet another Tata company, Lakme Limited, formed a 50-50 joint venture, Lakme Unilever Limited, to market Lakme’s mar-

Chemicals and Exports businesses, besides a common distribution system since 1993 for Personal Products. The two also had a common management pool and a technology base. The amalgamation was done to ensure for the Group, benefits from scale economies both in domestic and export markets and enable it to fund investments required for aggressively

Soon after, Lifebuoy followed in 1895

ket-leading cosmetics and other appro-

and other famous brands like Pears, Lux

priate products of both the companies.

and Vim. Vanaspati was launched in 1918

Subsequently in 1998, Lakme Limited sold

In January 2000, in a historic step, the

and the famous Dalda brand came to

its brands to HUL and divested its 50%

government decided to award 74 per cent

building new categories.

S EPTEMBER - 2 0 0 9

HUL believes that an organisation’s worth is also in the ser vice it renders to the community. HUL focuses on hygiene, nutrition, enhance-

2008 HUL’S ‘PUREIT’ RECEIVED THE UNESCO WATER DIGEST WATER AWARD 2008-2009 IN THE CATEGORY OF BEST DOMESTIC NON-ELECTRIC WATER PURIFIER.

ment of livelihoods, reduction of greenhouse gases and water footprint. It is also involved in education and rehabilitation of special or

2008

underprivileged children, care for the destitute and HIV-positive, and

HUL WAS AWARDED THE CONFEDERATION OF INDIAN INDUSTRY (CII) WESTERN REGION HR EXCELLENCE AWARD FOR THE YEAR 2008. HUL IS

rural development. HUL has also responded in case of national calamities / adversities and contributes through various welfare measures, most recent being the relief and rehabilitation of the people affected by the Tsunami disaster, in India.

THE FIRST COMPANY TO SCORE

HUL’s Project Shakti is a rural initiative that targets small villages popu-

MORE THAN

600 POINTS IN THE

lated by less than 2000 individuals. Through Shakti, HUL is creating

FOUR YEAR HISTORY OF THE

micro-enterprise opportunities for rural women, thereby improving their

AWARD.

livelihood and the standard of living in rural communities. Shakti also provides health and hygiene education through the Shakti Vani

HUL also runs a rural health programme, Lifebuoy Swasthya Chetana.

2008 HUL WAS AWARDED THE BOMBAY CHAMBER CIVIC AWARD 2007 IN THE CATEGORY OF SUSTAINABLE ENVIRONMENTAL INITIATIVES. HUL WAS AWARDED

The programme endeavours to induce adoption of hygienic practices

FOR ITS WATER CONSERVATION AND

programme. The programme now covers 15 states in India and has over 45,000 women entrepreneurs in its fold, reaching out to 100,000 villages and directly reaching to 150 million rural consumers.

among rural Indians and aims to bring down the incidence of diar-

HARVESTING PROJECT AT

rhoea. It has already touched 120 million people in approximately 50,

KARCHOND VILLAGE, SILVASSA.

676 villages across India.

equity in Modern Foods to HUL, thereby

acquired the government’s remaining

beginning the divestment of government

stake in Modern Foods.

equity in public sector undertakings (PSU)

In 2003, HUL acquired the Cooked

to private sector partners. HUL’s entry into

Shrimp and Pasteurised Crabmeat busi-

Bread is a strategic ex tension of the

ness of the Amalgam Group of Compa-

company’s wheat business. In 2002, HUL

nies, a leader in value added Marine Prod-

2007 HUL WAS CONFERRED THE COMMENDATION CERTIFICATION FOR SIGNIFICANT ACHIEVEMENT IN HR EXCELLENCE BY THE CONFEDERATION OF INDIAN INDUSTRY (CII) WESTERN REGION.

ucts exports.

S EPTEMBER - 2 0 0 9

Modern Integrator Exploring its options over different business, Modern India Limited has grooved its roots on a stabilized platform.

MODERN INDIA LTD. (MIL) TODAY HAS GROW IN TO A FULL-FLEDGED CORPORATE HOUSE HAVING DIVERSE INTERESTS RANGING FROM REAL ESTATE, TEXTILES, GEMS AND JEWELLERY TO EDUCATION. MIL STARTED TO FOCUS ON OTHER AREAS OF BUSINESS AND TODAY OPERATES A REAL ESTATE COMPANY WHICH HAS DEVELOPED MIL’S LAND BANK IN MAHALAXMI, MUMBAI AND IS LOOKING AT NEW DEVELOPMENT PROJECTS.

S EPTEMBER - 2 0 0 9

Founded originally under the British

operating a composite textile mill in the

Raj, MIL was incorporated under the In-

heart of Mumbai with high labour, elec-

dian Companies Act in 1933 and has

tricity, water costs and a heavier tax struc-

weathered many a storms to become a

ture, MML was forced to close down its

financially secure conglomerate, having

manufacturing unit in the year 2004. MML

its offices in 4 cities spread over 3 coun-

at the time of closing was one of the last

tries.

textile mills still functioning in Mumbai.

Jewellery Modern India Ltd. entered the field of Professional education by collaborating with the California Institute of Jewellery Training and launched the Indian Institute of Jewellery (IIJ) as its Promoter and Infrastructure Developer.

The Group’s principal activity is to

After shutting down its manufactur-

manufacture textiles. The Group operates

ing facility, MML changed its identity, re-

in five segments namely Textiles, Trading,

naming itself to “MODERN INDIA LTD”

Business Centre, Real Estate and Voca-

(MIL). With changes in the Government

tional Trading. Textiles segment consists

policy, MIL started to focus on other ar-

of trading in textiles. Trading consists of

eas of business and today operates a real

trading in products other than textiles.

estate company which has developed

Business Center consists of activities con-

MIL’s land bank in Mahalaxmi, Mumbai

The income from the Net Sales and op-

nected with running of business centre.

and is looking at new development

erations of the company as on 30th July

Real Estate consists of property develop-

projects. At the same time MIL has also

2009 is set at Rs.9895.78 lakhs and the

ment and carrying on business or activi-

started a Technical Training Institute called

profit from the ordinary activities for the

ties in real estate business of all types and

the “Indian Institute of Jewellery” (IIJ),

same period is Rs 262.97 lakhs. The net

Vocational trading consists of activities

MIL is also a master distributor of

profit for the company is set at Rs.189.81

connected with training for jeweller y

GemVision Corporation, USA, having ex-

lakhs.

manufacturing and designing.

clusive rights to distribute all GemVision

History

products in India.

MIL entered into an agreement with Gemvision for the supply of their Gem vision’s Revo 540 Milling Machine, SystemSix Camera System and Matrix & Digital Software.

Financials

The company’s investment includes Rs.3, 00, 00, 000/- in Indian Institute of

Modern India Property Developers Lim-

MIL was founded by a British gentle-

Jewellery Limited (IIJL) . The accumulated

ited, a subsidiary Company of Modern

man by the name of Mr. Gordon and

loss as at the end of the year in IIJL is Rs.5,

India Limited is developing an Electronic

was called “The Gordon Mills”. Gordon

05, 21 017/- which have exceeded the Net

Hardware, Software including IT & ITeS

Mills survived the severe hardships and

Worth of the Company. Keeping in view

Special Economic Zone at Khopoli in land

heavy tax structure of the British Empire

the

admeasuring 36.89 Acres, for which for-

with the help of its dedicated owners,

company’s business outlook the amount

mal approval is received & notification

employees and shareholders. Gordon

is put in considered as strategic long term

application is filed with designated De-

Mills was officially incorporated into the

investment for IIJL. MIL has given a loan

velopment Commissioner. This project

Indian Companies Act on 24th October

of Rs.6, 36, 15,000/- to IIJL which is also

is expected to be fully operational by

1933 as the “Modern Mills Ltd” (MML)

considered fully recoverable.

March 2011.

under ownership of the Sirur family. Over years Modern Mills Ltd. became one of

Real Estate

Long Term Dynamics of the

From the year 2006-07 to 2007-08, the company has improved its gross profits considerably i.e. more than Rs.300 lakhs.

the reputed business houses in the In-

MIL has a real estate & infrastructure

dian Textile industry. With the mill work-

development division which has devel-

ers strike in the 1990’s MML went into a

oped 3.68 lakh sq. ft. of prime property

deep financial burden and had to shut

in Mumbai. Projects include a 40 storey

down production facilities and went un-

residential tower called Belvedere Court

der the BIFR scheme. MML was later taken

and a business center called Modern

over by the Jatia family in the early 1990’s.

Center. At present MIL has a total land

The Jatia family infused fresh capital into

bank of 18.94 lakh sq. ft. in Mumbai and

MML and restarted production with up-

its surrounding areas of which the com-

Modern India has declared a dividend

graded facilities. Although the new man-

pany is planning to develop 14.75 lakh

of 50 paise per share of Rs. 2 each for

agement strived hard to revive MML’s

sq ft. of property from its land bank.

the year ended March 31, 2009. It paid a

past glory, the financial unavailability of

During 2007-08 the company’s gross profit before depreciation was Rs.841.82 lakhs and the profit before tax was recorded to be Rs.736.70 lakhs. While during the previous the gross profit after depreciation was set at Rs.518.79 lakhs with a profit before tax Rs.554.90.

dividend of 40 paise per share in 200708.

S EPTEMBER - 2 0 0 9

Life Drug Leader In India, GlaxoSmithKline is one of the market leaders with a turnover of Rs. 1500 crore and a share of 6.2 per cent.

GSK INDIA IS ALIGNING ITSELF WITH THE PARENT COMPANY IN AREAS SUCH AS CLINICAL TRIALS, CLINICAL DATA MANAGEMENT, GLOBAL PACK MANAGEMENT, SOURCING RAW MATERIAL AND SUPPORT FOR BUSINESS PROCESSES INCLUDING ANALYTICS.

S EPTEMBER - 2 0 0 9

Established in the year 1924 in India

pertussis, tetanus and others.

namic vaccines pipeline. The Company

GlaxoSmithKline Pharmaceuticals Ltd.

With opportunities in India opening up,

(GSK Rx India) is one of the oldest phar-

GSK India is aligning itself with the par-

which prevents cervical cancer.

maceuticals company. Globally, the com-

ent company in areas such as clinical tri-

pany is a USD 42 billion entity leading in

als, clinical data management, global pack

Financials

research-based healthcare and pharma-

proposes to launch ‘Cervarix’, a vaccine

management, sourcing raw material and

The grow th in Gross Sales was im-

ceutical. The mission is to improve the

support for business processes including

pacted due to lower selling prices as a

quality of life by enabling people to do

analy tics.GSK has t wo manufacturing

result of excise duty reduction being

more, feel better and live longer. This mis-

units in India, located at Nashik and Thane

passed on to the consumer. Net Sales

sion drives to make a real difference to

as well as a clinical development centre in

grew by 9.7% during the quarter ended

the lives of millions of people with com-

Bangalore. The state of art plant at Nashik

30th June, 2009. Exceptional items (net

mitment to effective healthcare solutions.

makes formulations while bulk drugs are

of tax) for the half year ended 30th June,

Today the company employs over 3500

manufactured at Thane.

2009 include profit on sale of property

people in its various branches.

In 2008, GlaxoSmithKline launched its

Rs.600 lakhs, actuarial gain on employee benefits Rs.1045 lakhs and cost of sepa-

The Company enjoys a leadership po-

flagship patented product in the field of

sition in the segments in which its prod-

Oncology i.e. Tykerb. It also signed two

uct s

including

business development deals with lead-

Dermatologicals, Corticosteroids, Anti-

ing Japanese companies. The deal with

Sales income from operations of the

parasitic, Vitamins, Minerals, Nutritionals

Daiichi Sankyo for Olmesartan, a latest

company as on 30th June 2009 was at

and Pain/Analgesics. Augmentin contin-

Angiotensin Receptor Blocker for treat-

Rs.93643 lakhs, while this was at

ues to be a leader in the Anti-infectives

ing hypertension, resulted in the launch

Rs.88838 Lakhs for the previous year.

segment. Betnesol, Eltroxin and Zentel

of Benitec in the fourth quarter of 2008.

The profits before tax and exceptional

are leaders in the Corticosteroids, Thy-

The agreement with A stellas for

items for the year 2009 as on the same

roid preparations and Anti-parasitic seg-

Micafungin, a critical care anti-fungal,

date is set at Rs.39178 lakhs while this

ments respectively. Calpol, Neosporin and

aligns well with the Company’s critical

was Rs.34833 lakhs during the previous

Cobadex CZS maintained their leadership

care

port folio.

year. The net profits for the year 2009

position in the Anti-pyretic, Topical Anti-

GlaxoSmithKline now has a relationship

and 2008 are 26762 lakhs and 23613

biotic and Antioxidants segments re-

with three out of the four top Japanese

lakhs respectively.

spectively. Cetzine is the number one

pharmaceutical majors.

are

represented

brand in the Cetrizine oral solid segment and Zobactin continues to be the 4th largest brand in the piperacillin combination segment.

Products The GSK India product portfolio includes prescription medicines and vaccines. The prescription medicines range across therapeutic areas such as antiinfectives, dermatology, gynaecology, diabetes, cardiovascular disease and respiratory diseases. The company is the market leader in most of the therapeutic categories in which it operates. GSK also offers a range of vaccines, for the prevention of hepatitis A, hepatitis B, invasive disease caused by H, influenzae, chickenpox, diphtheria,

and

hospital

ration for temporar y workmen at the Nashik factory Rs.588 lakhs.

The growth in Net Sales (net of Excise

Going forward, it intends to focus on

duty), excluding the Fine Chemicals busi-

high growth segments such as CNS (cen-

ness which was divested in 2007, was

tral nervous system), CVS (cardio vascu-

10.1% and in Profit before Tax and Ex-

lar system) and diabetology, known col-

ceptional Items was 14.6% for the year

lectively as the lifestyle diseases segment.

ended 31st December 2008. The Profit

Appropriate investments are planned to

before Tax and Exceptional Items as a

support such strategic priorities and pro-

percentage of Net Sales improved to

vide sufficient traction to new product

40.9% in 2008 compared to 39.3% the

introductions.

previous year, on a comparable basis.

On the premise that prevention is less expensive than therapy, Vaccines technology is rapidly evolving with newer and more sophisticated vaccines being introduced, apart from the development of therapeutic vaccines. Glaxo’s long presence in the Vaccines business will ensure that Indian patients benefit from the GlaxoSmithKline’s research-based dy-

Research & Development Glaxo is Committed to research and development of medicines that will improve the quality of life of people around the world and which truly make a difference to patients. This R&D effort is supported by the Clinical Operations group in India, which conducts clinical studies across a number of disease areas rangS EPTEMBER - 2 0 0 9

1919 T RADING

LINKS WITH

I NDIA

E S TA BL I SHED .

1924

As a part of its Corporate Social Responsibility, Glaxo is continuing with its long term ongoing projects while undertaking many new social responsibility

H J F OSTER & C O

field projects across India. Gramin Arogya Vikas Sanstha (GAVS), a Trust sup-

SOLE

APPOINTED

AGENTS .

ported by the Company launched two new Medical Centers in predominantly

1950

tribal regions in Peth Taluka, Nashik with the objective of providing basic healthcare facilities to rural tribal people. Over 30,000 tribal people are ben-

N AME

CHANGED TO

G L A XO

L A B O R ATO R IE S .

efited by this new healthcare initiative. GAVS also launched three Vocational Training Centers in Peth Taluka, Nashik. The project was undertaken with the long term objective of imparting specialized skills and making them more employable.

1961 V ITAMIN A

AND BETAMETHA SONE

MANUFACTURED AT NE W PL AN T AT

GlaxoSmitLine while collaborating with Pratham, a Non Government Organi-

THANE.

zation (NGO) has started a Shelter for children, located in Behraich, Lucknow, one of the regions from which a large number of children are sent as child labour. The Shelter provides education, food and shelter with psycho-social support to their families.

1984 S MITH K LINE & B EECHAM

BECOMES

A PUBLIC LIMITED COMPANY .

The Company continued its initiative of providing telephonic counseling

2001

through the GSK HIV / AIDS Helpline and disseminated information on the disease with psycho-social support to callers. Donation of essential medicines

M ERGER

/ products for humanitarian causes continued through the year. The Company

P HARMACEUTICAL S (I NDIA ) L IMITED

continued its support to ISKCON Foundation’s Mid-Day Meal project in Mumbai

INTO

S MITH K LINE B EECHAM

G L A XO I NDIA L IMITED .

for less privileged children. It also supported the Salvation Army, an NGO, in

2004

upgrading infrastructure facilities at its Shelter Home for destitute children in

“A UGMENTIN ”

Ahmednagar, Maharashtra.

BECOMES THE

PHARMACEUTICAL BRAND

ing from Cancer, Depression, Acute Coro-

The Company has trained more than 150

nar y Syndrome, Congestive Coronar y

investigators over 60 hospitals across In-

Heart Disease, Diabetes and Hepatitis C.

dia. To support new drugs that benefit

During 2007, the Company conducted 17

quality of life of Indian patients, the Com-

E LO GE N

clinical trials, of which 9 were new stud-

pany submitted 9 New Drug Applications

2007

ies initiated in 2008 and 280 patients par-

and 2 Investigational New Drug Applica-

ticipated. A large number of the clinical

tions to the Central Drugs Standard Con-

trials initiated in 2008 have been in the

trol Organization, Ministry of Health and

field of Oncology and Neuropsychiatry.

Family Welfare, Government of India.

NO.

2005 L AUNCH

OF ORAL CON TRACEPTI VES :

L AUNCHES C AR ZEC ( CARVEDILOL ) AND

Z EMETRIL ( CEFPROZIL )

S EPTEMBER - 2 0 0 9