DOCSLIB.ORG

Aditya Birla Group Under Kumar Mangalam Birla: Can He Manage the Mandate?

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Aditya Birla Group Under Kumar Mangalam Birla: Can He Manage the Mandate? 306-0 43-1 Aditya Birla Group under Kumar Mangalam Birla: Can he Manage the Mandate? ,At ffiefrnr.. He's 38, f,wpr Mavatan Bfula has ateady done rnon than what mosl otiers gel lo do in a transfonpd a h;/iebou7t' anghnenb inb a npdem onnpdities giant thafs g6ally anpetitive. Ihw did tE & iI? By rprl efiry hE age.4 ,tt nny appet as ll the whee! has orne full cirde. But tturnr Birla would puhaps teel that in a nNU gtobalisury envfuonmed, his ioumey has only iud begun-z Kgmar Mangalam Birla (KM Birla), Chairman of Aditya Birla Group, India's tttird largest conglomerate, became the youngestleaderof treOroupin 1995,affertredeatr of h'sfutrerand fonnerchairmanAdityaVikam Bjrla.Attrattimghe ROity" ain" Croup recorded rarenues worh INR 15,000 crqes.3 Since then, KM Birla has canied out major managerial in and financial reslucturing in he Grouo, which has resulted in the Group recording revenues of INR 33,000 crores 2005.a KM Birfa revolulionized ihe Grciup by disconlinuing tre ageold tadilions such as Babucultres ,Wornbl*btr'b Paha s4elf and poliry of in{rouse recruitnent He implernented varbus naiv prognms lke '}Ve-lti7l-W and ',Hqpi:nessNW , AWoilindex-dgttrebasicchatlengeforKM Birh fiesin mainbinlng fre leadenhip psilions in treGroup's mre'business andbregain ib pmilion as oneoftrebptrrcconglomerabs in hecounty. KM Birla's nextbigfoo.ts's benbr into tre listof Fortune 500 companies. KM Birh said,lVly call'rng is b build an organisalion thatcan createvalue;anyhing ebeb asubsetof tratThereban elementof legaryhere,butldontseemyselfasacatalystof changeassuch, onlychange as a subsetof organbalion building.{ The Birla Legacy lineage of ttre Aditya Birla Group dates back b 1857, when Seth shiv Narayan Birla sbrted cotton-tsading The -tre the Group, operations in small toun of Pilani in Rajastran, lndia. ln the early 20t century the founding bther of jute lndia dhyanshyamdas Birla (GD Birla), entered into the manufaclrdng sector by sefting up the first mill in Calcuth, set up Kesoram ltSiS; toitoweA byvarious otherfactories for manuhcfuring cotton, sugar and chemicals. ln 19?2.,he dott*.tg"6rtta GD Birla acquired lfnotrsfan Imes in 1927 andesbblished treUppaGanges Sugafactory in 1931- sdt up and ln 1945, he builtSaunastrtra Chemicals at Saurashba, GujaraL ln 1947, Grasim Industries (Gnsim)was incorporated as Gunlior Rayon Silk Manufacfuring Co., which commenced with nyon weaving operalions in Gwalior, .l(|m'r r Suendar T. llig Bcb'. *whlinsruldndadlr Scdsr$6 2F 2004 t Dde Kau** 1s hc aif nntUc mf. w*.hrimqbdatmn Sqtaba l?i ?05 t lbirt I Bah, Crlbn nal wiet fu O#"n! o.dq- IlE! E IUG c m ddcar66 d t/t'on!' llir pdkt mz{ hc afoyca acf dltd sd h. dldra d h. s|phts m grrilcd : Fb' 'r prtr.sldmErnad'rystmfr'rrden*irgirFrco{arndhdartcacrpft*co4ecdtobdgdldDFt3 ' T* orgrizdimMa'. !9.41 7. { r a 306-043.1 Aditya Bida Group under Kumar Mangalarh Birla: Can he Manage'rhe Mandate? MadhyaPm&sh. Hindalco, Group's aluminum di,,ision, was incorporated in 1958,which shrted production in 1962at-b aluminum complex atRenukmt Uthr Pradesh (UP). The Grandson of GD Birla, Aditya Vikram Birla (AV Birla) entered into the business in i964. Hesbrted he Eastern SpinnhgMibard Industies in 1965 in Calcutta. AVBiila acquired a smallspinningmill,lndian RayonCorpn$on Ltd-ir 1966 with an aim to expand the Group's business. However, many of his prcjecb were eiher rejecbd or blocked by fie gwemmentundervarbus prarbions of he'lbense Rf . During he perbd of Lirnse Rry'ln he 1960s and 1 970s, here wae priceresbictions in majorindusties includingfertilizen, sugar, steelandcoal.Alsomany golemment clearances relatedbfoe'gn technology collaboration andimportofcapitalgoods and rawmabdalswererequiredtosbrt any project- Having reahd tratitwould be diffiorltbexpand ib business within frecannby due bredhpism andbureaucncy,AVBirla sbrbdlookhg atothercounbiesforgrowtr opportunites. He tumed h'rs atbniion bwards Souh-EastAsian counbies lke Thailand,Indonesia l/alaysia, and hePhilipplnes.Thefrstglobalexpansion bytreGroupwasin 1969,whenAV Birlaset up Indo-Thd Synthetics Company Limited. The Group furtrer expanded ib intemational presence by establishing P-T. ElegantTex$e in Indonesia (1973) and Pan Century Edible Oils in Malaysia (1977). Duringfie1980s, he Groupfurherdversiled I adding cementandcafton blackb ib prfolio.ln 1980, Birla Coppa, $e copperdvision of Hindalco, was esbblished at Dahej in he Bharuch distictof Gujan[ which b the largest copper smelling plaf ln lndiaro In he same year, the Group set up a carbon bladi plant h Thaihnd. AV Birla also eshblished P.T. IndoBharatRayoninl9S2bbecomefrefrstvbcoseshplefiber(VSF)it poducerinlndonesia.Thrceyearslater,lndia's firstgs$asedferlilizaplantin pimtesecbr; lndoGulf Ferdlisers Limited (lndoGulf)uns eshblshedatJagdishpur, UP.In 1984, Grasimentered hecementbusinessforhelirstlime bysefiing up a plantatJawad,liladhyaPradestr.Afierthe Indbn govanmentfibenlized the petroleum indusfy in 1988, heAditya Birla Group enbred into a jointvenhrre witr H'ndusbn Petoleum Company Limited 12 (HPCL) to set up Mangalore Refineries and Pebociemicah Ltd. (MRPL) at Mangalore, Framabka. In 1988, fte Group esbblished a carbon black plant in Uthr Pndesh followed by anothercarbon black phnt in Alexandria (Egypt) in 1990. TheGnup conlinuedib oveseas o<pansion and in tre early 1990s, Birlaheaded a INR 12 billion overseas empire ofl2companiesinThailand,lndonesia,lvlalaysia,PhilippinesandEgypt,makingittheonlyh:elndianmultinalional.rs The Groupalsoconlinueditsdorneslicexpansion,andin1994VlkramlspatraassetupbyGrasimtoproduceSpongelron. That same year fte Group made ib foray into Russia when it bought a pulp plant UnderAV Bida's leadership the Group's compan'ns became tre vnrld's largest refner of palm oil, lire largest producer ofVSF, tre third largestproducer of insulaton and besixft largestproducerof carbon black in trewodd.la Afurhedeah dAVBida in 1995, hisson Kumarfi,bngalam Birla, aCharteredAccarnhntandan MBAfomLoncion BusinessSdtool,atheageof28 bokorerfrereignof theGro.rp tratwas hadngbblrcvenuesof INR 15,000croreswith asseb of INR 16,000 crores. lt had a strength of75,000 employees and 600,000 shareholders" KumarMangalam Birla: The Catalystof Change After hking up the charge, Kumar Mangalam Birla (KM Birla) decided to consolidate the entire Group's companies underoneumbrellaof teAditya BirlaGratp.Wtr aviewtofurtrerdivenif theGrurp's business,hedecided toenbrthe telecommunicationssectorthroughajointvenfurewithAmericanTelephoneandTelegnphCorporalion(AT&T)in 1995. However, rnany critics were of tre opinion tratKM Birlawould be unable to manage theGroup successfully. When KM$rta succeeded his fttrerin 1995, his crilics dismissed him as a softand shyperson,who lackedhe business expertbe and asserliveness of hls taher. He was accused of inconsistent behaviu, an unapproachable nnnagement style and misplaced pdotities. The result was'hat tre invesion shrted selling off theirshares. ln 1996, the marketvalue of the LlcruR- nbtli0E lcsrcr r.grLtm-dtfr -sitrdrdl+GlHwrc ngtudlo d rp brEmsh lrld lrfi.n d .tcds 0f h. .camt *l cortdcd t hc.i* ad lm w giva lo . sdcd tri r w.lindelcand, r \rSFicztm<tdqhd.lrdeucGr!slhdry.drdd6dthbcdolrErtmlyvsetlcrdsltUqdcdvihobrlbE1VsFisyiddtccdtoin.6*nbi:.trbobws ndHlldlmcdr c lld.daPctrbnrCoAa$mlidtdi0tosEadbgrdif€rdlddfdrft!rd,D*dirgocprnlh lr&rnr.iffio($n616.89Hrm[.lS5l1J(EMloro)ro{ ? 2005. Phnt Gfir triH l*ttrrid, Ps$in 8016 ttd. O Ut 19g', pe 16l r w.dfat*bor s |l*L 306-043-1 Aditya Birla Group under Kumar Mangalam Birla: Can he Manage he Mandate? Group's fourlargestcompanies-Grasim,lndian Rayon, Hindalco and lndo Gulf Ferlilizer, plunged by$1 billion of37%'r! KM Birla took setrenl initialives to prove his oitics wrong. KM Birla discontinued various ancient pnclices and porryer cenbrs witrin tre Gro:p. He hhoduced a relirernent pollry in 1995, on tre basis of l.rhich around325 senioremployees,whowerein the{rearly60s, had to quitthe uganizalion in t}re next five yean. Subsequently about 400 young executives replaced them. With this, Bida reduced $e average o{ the employees in tre Group from 54 years in 1996 to less than 40 years in 2000. Meanwhile, answering tre crilics he said, 'Peoplein the Groupwere aboutfuvice myagewhen lbokoveraschairman.lhad greatrespectforhem personally, but I also felt he need for change"rT In 1996, helaunchedfortrefntlime acorporate identityttratrmrldserveas acorprablogo. TheGroupselectedthe 'Rrsingsur/ as the logo, v*rich signifiedoplimism andswedas aunifralion symbolfortreGroup. KM Birh said,"During trat psio4 wlren tre organisaton r,rns gc.,ing trrur gh trnnoil due b he deah of AV Birla, tre new cuporate logo helped in bringing trevariouscompanies of theGroupbgeher.This helpedtreorganisalion toreanergizeandgetshrted bthe pah ofchange."lr KM Birla also changed ttre Group's poficy of in*rouse recruitnent- In 1996, he also made changes in tre Group's This Human Resource ftlR)systenr. He hired professionalsfiomobercornpanies intohis managementteam [Erhibit 1]. removed he earlier nolion trat people, who dd not find jobs elsaartrere, joined he B:irla companies. KM Birla said, lne of the trings I got to know early ttrat helped me know myself betteruas rny ovtn stengths and weaknesses. lt was very imporhntfor me to get people who are much brighter tlran me, ndjust peopie who have more experience. Thafs what keeps me challenged.'re He canied outvarbus bdrer changes as well- The Parfia System of daily fnancial reporling which foctsed mainly on production was replaced 'sith an Economb VdueAddedmodep. In September 1998,
Load more

Recommended publications
  • HINDALCO INDUSTRIES LIMITED Registered Office: Century Bhavan, 3Rd Floor, Dr
    LETTER OF OFFER November 25, 2005 For Equity Shareholders of the Company Only HINDALCO INDUSTRIES LIMITED Registered Office: Century Bhavan, 3rd Floor, Dr. Annie Besant Road, Worli, Mumbai 400 025, India. We were incorporated on December 15, 1958 as Hindustan Aluminium Corporation Limited under the provisions of the Companies Act, 1956. We changed our name from Hindustan Aluminium Corporation Limited to Hindalco Industries Limited on October 9, 1989. The Registered Office of the Company was shifted from Industry House, 159 Churchgate Reclamation, Mumbai 400 020, India effective September 1, 1970. (For further details see “History of the Company and Other Corporate Matters” on page 80 of this Letter of Offer.) Tel: +91-22-56626666; Fax: +91-22-24227586/24362516 Contact Person: Mr. Anil Malik, Company Secretary and Compliance Officer E-mail: [email protected], Website: www.hindalco.com For private circulation to the Equity Shareholders of the Company only LETTER OF OFFER FOR PRIVATE CIRCULATION TO THE ORDINARY SHAREHOLDERS OF THE COMPANY ONLY ISSUE, ON A RIGHTS BASIS OF 231,936,993 EQUITY SHARES WITH A FACE VALUE OF Re. 1 EACH AT A PREMIUM OF Rs. 95 PER EQUITY SHARE FOR AN AMOUNT AGGREGATING Rs. 22,266 MILLION TO THE EXISTING EQUITY SHAREHOLDERS IN THE RATIO OF ONE EQUITY SHARE FOR EVERY FOUR EXISTING EQUITY SHARES HELD BY THE EXISTING SHAREHOLDERS ON THE RECORD DATE, i.e., NOVEMBER 28, 2005 ON A PARTLY PAID BASIS IN TERMS OF THIS LETTER OF OFFER (“ISSUE”). THE ISSUE PRICE FOR THE EQUITY SHARES WILL BE PAID IN THREE INSTALLMENTS: 25% OF THE ISSUE PRICE WILL BE PAYABLE ON APPLICATION; 25% OF THE ISSUE PRICE WILL BECOME PAYABLE, AT THE OPTION OF THE COMPANY, BETWEEN 9 AND 12 MONTHS AFTER THE ALLOTMENT DATE; AND 50% OF THE ISSUE PRICE WILL BECOME PAYABLE, AT THE OPTION OF THE COMPANY, BETWEEN 18 AND 24 MONTHS AFTER THE ALLOTMENT DATE.
    [Show full text]
  • 11 Aditya Birla Grasim
    ADITYA BIRLA 1111;11 GRASIM 24th September 2018 BSE Limited The Secretary Corporate Relationship Department National Stock Exchange of India Ltd. 1st Floor, New Trading Ring, Exchange Plaza Rotunda Building, Bandra-Kurla Complex, Bandra ( East) P J Towers, Dalal Street, Mumbai - 400 051 Fort, Mumbai - 400 001 Dear Sirs, Sub: Annual Report for the year ended 31st March 2018 under Regulation 34 (1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Pursuant to Regulation 34 (1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith Annual Report of the Company for the year ended 31st March 2018 alongwith Notice dated 14th August 2018. We request you to take the same on your records. Thank you. Yours faithfully, For Grasim Industries Limited Hutokshi Wadia President & Company Secretary Encl.: a/a Grasim Industries Limited Aditya Birla Centre, 'A' Wing, 2nd Floor, S.K. Ahire Marg, Worli, Mumbai 400 030, India T : +91 22 6652 5000 / 2499 5000 I F : +91 22 6652 5114 / 2499 5114 E: [email protected] 1 W: www.grasim.com I ON: L17124MP1947PLC000410 Regd. Office : P.O. Birlagram, Nagda - 456331 (M.P.) ADITYA BIRLA GRASIM FOREST TO FASHION. SUSTAINABLE SOLUTIONS. ANNUAL REPORT GLOBAL VSF PLAYER. 2017-18 TRIBUTE TO A VISIONARY AND A PASSIONATE ENTREPRENEUR Mr. Aditya Vikram Birla (14.11.1943 - 01.10.1995) We live by his Values. Integrity, Commitment, Passion, Seamlessness and Speed. THE CHAIRMAN’S LETTER To THE SHAREHOLDERS India’s economy is emerging strongly from the transitory effects of demonetisation and implementation of Goods and Services Tax (GST).
    [Show full text]
  • Brochure Aditya Birla 2016.Cdr
    CSR ies unit comm ce an govern s e u a l s o c i a l v t y l i b i s u a i n a s t a d en ag co rp ora t e I dream of an India free from poverty. An India“ where every child is educated, where every man and woman enjoys a sense of self-worth through gainful employment. An India which sets a fine example to the world on how social and economic goals can go “hand in hand for the benefit of humanity. To incubate, nurture and accelerate a Aditya Vikram Birla paradigm of sustainable and inclusive CSR in (1943 - 1995) India and across the globe, thereby raising the Human Development Index through poverty Provides an enabling alleviation environment for business to pursue their CSR goals Federation of Indian Chambers of Commerce & Industry (FICCI), a rallying point for free enterprise in India since 1927 and the Aditya Birla Group, a premium Generates awareness business group with a mission to deliver superior value to customers, about holistic CSR shareholders, employees and society at large have come together to practices and sustainable establish the FICCI-Aditya Birla CSR Centre for Excellence. The CSR Centre development for Excellence has evolved in consonance with Mahatma Gandhi's dream: ethics-based business practices leading to improvement in GOALS Creates synergy amongst the quality of life for the common people. CSR stakeholders for exchange of ideas and The Centre will provide strategic direction to the development shared learning of socially inclusive and holistic CSR practices by providing a platform to various stakeholders so that they can share their Supports capacity building experiences, learn, exchange ideas and support of enterprises, partnerships that add value to business.
    [Show full text]
  • Tribute to a Visionary and a Passionate Entrepreneur
    TRIBUTE TO A VISIONARY AND A PASSIONATE ENTREPRENEUR Mr. Aditya Vikram Birla (14.11.1943 - 01.10.1995) We live by his values. Integrity, Commitment, Passion, Seamlessness and Speed. THE CHairman’s LETTER TO THE SHAREHOLDERS Growth in the emerging markets is pegged at 4.5%, driven largely by China, India and the ASEAN region. Dear Shareholders, Global Economy The global economy continued to be subdued in 2016. The slowdown in the advanced economies of the West adversely impacted growth levels, resulting in the slowing of the world economic growth to 3.1% from 3.4% in the earlier year. The growth in emerging markets and developing economies was encouraging. However, China and India experienced a deceleration. Financial markets reflected a broad uptrend, notwithstanding Brexit and the rate hikes by the US Fed. 01-27 CORPORATE OVERVIEW FINANCIAL HIGHLIGHTS STATUTORY REPORTS FINANCIAL STATEMENTS Recent data reveals that the global That said, if there is one subject that needs The merger of Aditya Birla Nuvo Limited economy is gaining momentum. PMIs greater attention on the government’s (ABNL) with your Company, and the (Purchasing Managers’ Indexes), radar for the ensuing years, it is the subsequent de-merger and listing of accelerating trade flows and better revival of investment activity and creation financial service business as approved by business and consumer confidence are of quality jobs in large measure. The you is a major milestone. This merger has the key pointers. The IMF has projected Government is seized of these issues. created a mega entity in manufacturing global growth to notch up to 3.5% in The Government has taken many steps, and service businesses commanding 2017 from 3.1% last year.
    [Show full text]
  • Kumara Mangalam Birla the Ceo and His Business.Qxp 9/8/2005 10:23 AM Page 26
    kumara mangalam birla the ceo and his business.qxp 9/8/2005 10:23 AM Page 26 The CEO & His Business Shaping A Legacy kumara mangalam birla the ceo and his business.qxp 9/8/2005 10:23 AM Page 27 When Kumar Mangalam Birla inherited his father's vast industrial group at the young age of 28, many were sceptical about his abili- ties. A decade later, Birla has proved more than equal to the chal- lenge. Darrel Philip profiles Birla's endeavours to reshape the house his father built. n the ten years since Kumar nies in India — aluminium and copper major Mangalam Birla took the reins of his Hindalco, Grasim the conglomerate with father Aditya Birla's business empire, businesses as diverse as cement, sponge I few would have foreseen the changes iron, viscose and textiles, Indian Rayon he would implement. No one would have which concentrates on yarn, fabrics and thought that the callow 28-year-old Kumar, garments, and IndoGulf which makes fer- grappling with the complexities of the $1.8 tilisers. The group has recently ventured billion conglomerate after his father's sud- into fast growing industries like telecom, den death, would step into his shoes with finance and insurance, software and BPO. such dexterity. In addition, its international businesses Armed with an MBA from the presti- range from copper mines to carbon black gious London Business School, but still wet to palm oil to chemicals to viscose staple behind the ears, the responsibility of run- fibre and fabric. There are ten companies in ning an industrial empire that spanned sev- Thailand which manufacture a diversified eral countries in Asia was thrust upon this mix from fabrics to carbon black to chemi- babe-in-the-corporate-woods.
    [Show full text]
  • LIST of CREDITORS of COSMIC FERRO ALLOYS LIMITED As On
    LIST OF CREDITORS OF COSMIC FERRO ALLOYS LIMITED As on August 03, 2018 IMPORTANT NOTICE 1. The list of creditors presented in the following pages is as of claims received as on August 03, 2018. 2. The list of creditors is not the final list, as the verification / reconciliation of claims is still under process and the same list shall be updated as and when more claims are received and verified. LIST OF CLAIMS BY FINANCIAL CREDITORS OF COSMIC FERRO ALLOYS LIMITED AS ON AUGUST 03, 2018 Claimed Amount Admitted Pending Sr NoName (INR) Amount (INR) verification 1 State Bank of India 45,94,96,098 45,94,96,098 - 2 Phoenix ARC 30,69,02,592 30,69,02,592 - 3 Bank of Baroda 25,98,76,580 25,40,02,667 - 4 Syndicate Bank Ltd. 22,24,84,373 22,24,84,373 - 5 DBS Bank Ltd - Singapore 16,77,33,989 16,77,33,989 - 6 DBS Bank Ltd - India 14,67,74,713 14,53,01,987 - 7 Citibank N.A. 12,69,90,533 12,69,90,533 - 8 ICICI Bank Ltd 7,04,82,724 5,42,02,314 1,62,79,242 9 RBL Bank Ltd 2,24,06,849 2,24,06,849 - 10 Best Commodities 1,52,18,200 1,52,18,200 - 11 Matribhumi Fincap India Ltd 80,06,250 80,06,250 - 12 Ashok Investors Trust Ltd 59,56,500 59,56,500 - 13 Morisson Traders & Development Pvt Ltd 50,61,556 50,61,556 - 14 Pathik Agencies Ltd 46,04,893 46,04,893 - 15 Manali Vinimay Pvt Ltd 36,21,000 36,21,000 - 16 Safe Commercials 36,07,630 36,07,630 - 17 Amodini Sales Pvt Ltd 34,48,500 34,48,500 - 18 The Federal Bank Limited 33,48,156 33,48,156 - 19 Blue motion Trexim Pvt Ltd 32,02,500 32,02,500 - 20 Ranjit distributors 28,64,238 28,64,238 - 21 Swadist Sweets Pvt Ltd
    [Show full text]
  • Change in Directorate
    4 August 2021 National Stock Exchange of India Limited BSE Limited “Exchange Plaza”, Phiroze Jeejeebhoy Towers, Bandra - Kurla Complex, Dalal Street, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Dear Sirs, Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Ref: “Vodafone Idea Limited” (IDEA / 532822) Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that: The Board of Directors of Vodafone Idea Limited, at its meeting held today, have accepted the request of Mr. Kumar Mangalam Birla to step down as Non-Executive Director and Non- Executive Chairman of the Board with effect from close of business hours on 4th August, 2021. Consequently, the Board has unanimously elected Mr. Himanshu Kapania, currently a Non- Executive Director, as the Non-Executive Chairman. Mr. Kapania, a nominee of the Aditya Birla Group, is a telecom industry veteran with 25 years of experience. This includes significant board experience in telecom companies globally. Mr. Kapania has also served on the Global GSMA Board for two years and was also the Chairman of the Cellular Operators Association of India (COAI) for two years. He is presently the Chairman of the FICCI Council on Telecom, Electronics and Digital Economy. Further, based on recommendation of Nomination and Remuneration Committee, the Board has appointed Mr. Sushil Agarwal, a nominee of Aditya Birla Group, as an Additional Director (Non – Executive and Non Independent) with effect from 4th August, 2021. Mr. Sushil Agarwal is not related to any other Director of the Company and is not debarred from holding the office of Director by virtue of any SEBI order or any other authority.
    [Show full text]
  • Hindalco to Acquire Aleris at an EV of US$ 2.58 Billion
    Media Release Mumbai, July 26, 2018 Hindalco to Acquire Aleris at an EV of US$ 2.58 Billion “This will solidify our position as the World’s No.1 Aluminium Value-Added Products player”, says Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group. Acquisition multiple of 7.2x at an expected EBITDA of US$ 360 million . Consolidated Net Debt to EBITDA expected to be below 3.5x at the time of closing . Aleris has a global footprint with manufacturing facilities in Europe, the U.S. and Asia . Strengthens Novelis’ leadership position in the fastest growing automotive segment with best in class assets in Lewisport, U.S. and Duffel, Belgium . Marks Novelis’ entry into the high-end aerospace segment, with technological capabilities in manufacturing and research & development in Aleris’ facility in Koblenz, Germany . Fully integrated metal value-chain play in high growth Asian market with Aleris’ modern Zhenjiang China facility . The Indian Aluminium Value Added Products (VAP) business will draw capabilities for the Building & Construction (B&C) segment Hindalco’s wholly owned subsidiary, Novelis Inc, today announced signing of a definitive agreement to purchase Aleris Corporation, a global aluminium rolled products major, headquartered in the United States, for US$ 2.58 billion in a debt finance deal. Says Mr. Kumar Mangalam Birla, Chairman, Hindalco “Over a decade ago, with the Novelis acquisition Hindalco leap frogged into the global arena of the Aluminium Industry. It made Hindalco a global multinational and brought with it top-tier international customers and best in class capabilities in aluminium value-added products. Since then, Novelis has grown significantly and continues to be the global leader in its markets.
    [Show full text]
  • Aditya Birla Fashion and Retail Limited and Retail Fashion Birla Aditya
    CMYK CMYK ADITYA BIRLA FASHION AND RETAIL LIMITED AND RETAIL BIRLA FASHION ADITYA ADITYA BIRLA FASHION AND RETAIL LIMITED ANNUAL REPORT 2016 -2017 2016 REPORT ANNUAL Thomson Press CMYK CMYK Mr. Aditya Vikram Birla We live by his values. Integrity, Commitment, Passion, Seamlessness and Speed. CMYK LETTER TO THE SHAREHOLDERS: THE CHAIRMAN, ADITYA BIRLA GROUP Dear Shareholder, Global Economy The global economy continued to be subdued in 2016. The slowdown in the advanced economies of the West adversely impacted growth levels, resulting in the slowing of the world economic growth to 3.1% from 3.4% in the earlier year. The growth in emerging markets and developing economies was encouraging. However, China and India experienced a deceleration. Financial markets reflected a broad uptrend, notwithstanding Brexit and the rate hikes by the US Fed. Recent data reveals that the global economy is gaining momentum. PMIs (Purchasing Managers’ Indexes), accelerating trade flows and better business and consumer confidence are the key pointers. The IMF has projected global growth to notch up to 3.5% in 2017 from 3.1% last year. Growth in the advanced economies is estimated at 2%, with US growth at 2.3%, the Euro area at 1.7% and Japan at 1.2%. Growth in the emerging markets is pegged at 4.5%, driven largely by China, India and the ASEAN region. Latin America is expected to grow only 1.1%, affected by the weak trend in Brazil. CMYK LETTER TO THE SHAREHOLDERS: THE CHAIRMAN, ADITYA BIRLA GROUP Indian Economy “India is on a roll. India is on a roll.
    [Show full text]
  • Philippines-India Relations Was One of the Two Most Focal Bilateral Discussions Made
    India–Philippines relations India–Philippines relations India–Philippines relations refers to the foreign relations between the Republic of India and the Republic of the Philippines. Diplomatic relations between India and the Philippines was established in 1949. India maintains an embassy in Manila, whilst the Philippines maintains one in New Delhi. A Treaty of Friendship was signed between the Philippines and India on 11 July 1952. India Philippines Contents History Early history Colonial era Post World War II era 21st Century relations Joint Commission on Bilateral Co-operation Cultural relations Military relations Trade Relations Indian Community in the Philippines History Early history Indian elements in Philippine culture point to early relations between the two societies. However, some works posit that the influx of Indian cultural elements into the Philippines is understood only in terms of the developments in the intervening regions between these two areas, the Malay Peninsula and the Indonesian Archipelago, where there was an intensified process of Indian influences from the 2nd through the late 14th centuries CE. Through the Srivijaya and Majapahit empires, Indian influences would have reached the Philippines from the 10th through the early 14th centuries, based on the events in these two regions, and through direct migration from the Indian subcontinent to the Philippines. Artifacts of Indian orientation have been found in a lot of islands in the Philippines. The golden image of the female Bodhisattva which was found in Agusan, was related to the development of Buddhism in Southeast Asia dating back to the late 13th and 14th centuries. The introduction of Sanskrit words and literature may be dated to the 10th and 12th centuries.
    [Show full text]
  • Modern Indian Business History: a Bibliographic Survey
    Modern Indian Business History: A Bibliographic Survey N. Benjamin and Prabhash Narayana Rath Gokhale Institute of Politics and Economics Pune 411004. Abstract Business history has been a neglected area in both Economics and History due to various reasons. However, some scholars have attempted to write books on business history basing upon whatever material they could lay their hands on, whereas some others have written individual corporate histories, which are usually sympathetic accounts of the perspective corporate houses and are of restricted circulation. Realising the importance of business history accounts for proper understanding of the overall business and economic scenario of India, an attempt has been made to present a bibliographic survey of business history books in English language pertaining to the colonial and modern period. The paper aimed at presenting a comprehensive account of the books of the following types: viz. general business histories; industrial histories; in-house histories of different companies; souvenirs of the various chambers of commerce and industry; histories of the business houses; accounts of the business communities; and biographies and autobiographies of the businessmen. In the study, more than 550 books have been covered under eight sections each representing one of the above-mentioned types of business histories. Business History has been a neglected area in both Economics and History. One reason for this has been the dearth of source material. Many businessmen like Naval H. Tata willed that their papers be torn to pieces and burned after they passed away. Corporate managements have also allowed the papers to be destroyed rather than preserved once a monograph or book was written based on them.
    [Show full text]
  • Article Layout
    Focus Birla set to acquire metal major Novelis for $6 bn Bids and expanding our global presence across our various businesses counter bids have and is consistent with our vision of taking India to the world. become an integral The combination of Hindalco and Novelis will establish a part for expanding global integrated aluminum producer with low-cost alumina horizons and aluminum production facilities combined with high-end transcending aluminum rolled product capabilities. The complementary beyond all physical expertise of both these companies will create and provide a as well as strong platform for sustainable growth and ongoing success.” psychological boundries for Acting Chief Executive Officer of Novelis, Mr. Ed industrialists as Blechschmidt commented after the acquisition formalities presently being were complete, "After careful consideration, the Board has witnessed in the aluminium industry more so in India than unanimously agreed that this transaction with Hindalco anywhere else. After a successful bid for Atlanta-based delivers outstanding value to Novelis shareholders. Hindalco Novelis, Hindalco Indusries is expected to face a counter bid is a strong, dynamic company. The combination of Novelis' from the Russian aluminium major, Russian Aluminium. world-class rolling assets with Hindalco's growing primary aluminum operations and its downstream fabricating assets in Kumar Mangalam Birla-controlled Hindalco Industries, the rapidly growing Asian market is an exciting prospect. the country's largest aluminium producer, recently announced Hindalco's parent, the Aditya Birla Group, is one of the largest the acquisition of Atlanta-based Novelis for an enterprise and most respected business groups in India, with growing value of nearly $6 billion in cash, which will help it gain large global activities and a long-term business view." customers like Coca-Cola, Ford and General Motors.
    [Show full text]