PSUs: Marching ahead of challenges
Suparna / 02 Jan 2012
Notwithstanding rising interest rates and obdurate inflation taking a toll on India's projected economic growth, which has created a fresh challenge, Indian PSUs are looking optimistic that the growth rate will not go down substantially.
Central Bank of India: Spreading Overseas
Backed by a strong NRI customer base and a network spread across the world, Central Bank of India is planning to open its representative offices in Hong Kong, Norway and West Asia by the end of FY 2012. Relying on robust domestic demand, the bank is aiming to cross 4000 branches across the country from the present 3870 branches. One of the largest Public Sector banks and the first Swadeshi Bank of the country, Central Bank of India celebrated its Centenary Day on Dec 21, 2011.
OIL: It’s Honour Time For Oil Indians
Backed by a strong NRI customer base and a network spread across the world, Central Bank of India is planning to open its representative offices in Hong Kong, Norway and West Asia by the end of FY 2012. Relying on robust domestic demand, the bank is aiming to cross 4000 branches across the country from the present 3870 branches. One of the largest Public Sector banks and the first Swadeshi Bank of the country, Central Bank of India celebrated its Centenary Day on Dec 21, 2011.
OIL: It’s Honour Time For Oil Indians
Oil India was conferred with the award of ‘Company of the Year’ among all the Navratna and Miniratna companies at the PSE Excellence Award ceremony at New Delhi. The award was instituted by the Indian Chamber of Commerce, supported by the Department of Public Enterprise, Government of India. This is the most prestigious award given to the company for its all-round achievements in the areas of physical and financial performance, CSR, HSE and sustainability parameters. N M Borah, Chairman and Managing Director, Oil India, while accepting the award on behalf of the company, dedicated the same to all Oil Indians for their commitment and hard work. Oil India has been showing sustained growth and stellar results in the past few years, and has achieved record levels of crude oil production and natural gas production potential during the last fiscal. The company also bagged the Golden Peacock Award 2010-11 for Excellence in Corporate Governance for the year 2010-11 from the World Council of Corporate Governance (WCFCG) and the Centre for Corporate Governance (CFCG).
GRSE: Building On a Strong Order Book
Garden Reach Shipbuilders & Engineers (GRSE), one of India’s largest defence shipyards, has bagged a prestigious export order for an Offshore Patrol Vessel. The ship will be built in the new slipway, which is coming up under the modernisation programme, and will be delivered within 42 months from the date of signing of the contract. GRSE has shown an increase in productivity, quantity and human resource. For the year ended Mar 2011, the company reported a Profit Before Tax of Rs 162.76 cr, registering a growth of 25%. The company has achieved a turnover of more than Rs 1000 cr for the first time in its history.
GRSE: Building On a Strong Order Book
Garden Reach Shipbuilders & Engineers (GRSE), one of India’s largest defence shipyards, has bagged a prestigious export order for an Offshore Patrol Vessel. The ship will be built in the new slipway, which is coming up under the modernisation programme, and will be delivered within 42 months from the date of signing of the contract. GRSE has shown an increase in productivity, quantity and human resource. For the year ended Mar 2011, the company reported a Profit Before Tax of Rs 162.76 cr, registering a growth of 25%. The company has achieved a turnover of more than Rs 1000 cr for the first time in its history.
Oriental Insurance Company
- Dr R K Kaul, CMD, Oriental Insurance Company
“Last year, we posted revenues of Rs 5457 cr, and our target for this year is Rs 6500 cr. However, our main focus is not on the topline but on the bottomline, because we do not want to grow at the cost of the latter. That has been our philosophy for some time. We are presently growing at the rate of 16.5% per annum”.
“Last year, we posted revenues of Rs 5457 cr, and our target for this year is Rs 6500 cr. However, our main focus is not on the topline but on the bottomline, because we do not want to grow at the cost of the latter. That has been our philosophy for some time. We are presently growing at the rate of 16.5% per annum”.
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