Indias Best PSU Winner
Sagar BhosaleCategories: PSU Special
ROLL OF HONOUR
ROLL OF HONOUR
Oil & Natural Gas Corporation
Maharatna Of The Year ( Non-Manufacturing)
Shashi Shanker
CMD, ONGC
ONGC is a Schedule-‘A’ listed Maharatna CPSE in the Crude Oil cognate group under the administrative control of Ministry of Petroleum and Natural Gas, with the Government of India holding 68.94% of its shareholding. ONGC is engaged in hydrocarbon exploration and exploitation of petroleum resources and production of crude oil and natural gas in India. ONGC also produces value-added products, viz. C2, C3, LPG, Naphtha, SKO, HSD, ATF etc. ONGC carries out oil and gas production activities through business units called ‘assets’; exploration activities are carried out through business units called ‘basins’. Presently, ONGC has 13 assets and 7 basins.
The revenue of the company registered an increase of Rs 704.75 crore to Rs 85,455.86 crore in 2016-17 from Rs 84,751.11 crore in 2015-16. The profit of the company has also gone up by Rs 1,760.04 crore to Rs 17,899.97 crore in 2016-17 from Rs 16,139.93 crore in the previous year. This was mainly due to rise in crude oil prices.
ONGC Petro Additions Ltd. (OPAL) plant has been set up with an investment of Rs 30,000 crore and production capacity of 14 lakh tonnes of polymers and 5 lakh tonnes of chemicals per annum.
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Coal India
Most Efficient & Fastest Growing Maharatna Of The Year (Non Manufacturing)
Gopal Singh
CMD, Coal India Ltd
Coal India Ltd. is a Schedule-‘A’ listed Maharatna CPSE in the Coal cognate group under the administrative control of Ministry of Coal with 78.86% shareholding of the Government of India. CIL is engaged in the business of coal mining (including acquisition), manufacturing of coke and other business, coal bed methane and byproducts and exploration, production, sales and distribution of coal through its subsidiary companies. It has nine wholly-owned subsidiaries.
The revenue of the company on a standalone basis registered a decrease of Rs 1,990.62 crore during 2016-17, going down to Rs 15,315.93 crore in 2016-17 from Rs 17,306.55 crore in 2015-16. The profit of the company has also gone down by Rs 2,092.47 crore to Rs 14,500.53 crore in 2016-17, from Rs 16,593 crore in the previous year. The decrease in profit was due to decrease in dividend and other income and increase in expenditure.
The company has entered into an agreement with BEML and DVC. The equity participation of BEML, CILand DVC was 48 per cent, 26 per cent and 26 percent, respectively. After revamping the Durgapur plant of the erstwhile MAMC, manufacturing of equipment would commence in this plant soon. CIL has also entered into collaboration with state government and Indian Railways for development of major railway infrastructure projects in growing coalfield.
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Indian Oil Corporation Limited
Maharatna & Most Efficient Maharatna Of The Year (Manufacturing)
Sanjiv Singh
Chairman, Indian Oil Corporation
IOCL is a Schedule ‘A’ Maharatna CPSE in the Petroleum (Refinery and Marketing) cognate group under the administrative control of Ministry of Petroleum and Natural Gas with 57.34% shareholding of Government of India. IOCL is a major player in the field of petroleum refining, pipeline transportation of crude and petroleum products, marketing of petroleum products, R&D, blending and production of lubricants. In pursuit of creating a diversified business profile, IOCL is steadily integrating its business downward into petrochemicals and upward into E&P.
The revenue of the company registered an increase of Rs 40,431.34 crore during 2016-17, with the total revenuegoing up to Rs 4,49,581.49 crore in 2016-17 from Rs 4,09,150.15 crore in 2015-16. The profit of the company has gone up by Rs 7,864.17 crore to Rs 19,106.40 crore in 2016-17 from Rs 11,242.23 crore in the previous year. This was mainly on account of inventory gains and exchange gains during the current year, which were partly offset by additional provision for contingencies.
The Government of India had disinvested 3,32,76,129 equity shares in January 2017 and 1,24,64,272 equity shares in March 2017 in IOCL in favour of CPSE ETF. Consequently, the holding of the President of India in the equity share capital was reduced to 57.34 per cent.
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NTPC Fastest Growing
Maharatna Of The Year (Manufacturing)
Gurdeep Singh
CMD, NTPC
NTPC is a Schedule ‘A’ Maharatna listed CPSE in the Power Generation cognate group under the administrative control of Ministry of Power with 69.74% shareholding by the Government of India. NTPC’s primary business is power generation through coal and gas/liquid fuel-based sources. The company has its presence across the country with 18 coal-based, 7 gas/liquid based, 1 hydro-based station and 10 solar PV power stations. It has also ventured into nuclear, wind and solar power, equipment manufacturing and providing services for R&M of power stations.
The revenue of the company registered an increase of Rs 7,333.14 crore to Rs 79,342.30 crore in 2016- 17 from Rs 72,009.16 crore in 2015-16. The profit of the company has decreased by Rs 1,384.34 crore during 2016-17 from Rs 10,769.60 crore in 2015-16 to Rs 9,385.26 crore in 2016-17. The decrease is mainly due to the increase in employee benefits expense and impairment loss in investment.
The compliance of new environmental norms notified by MOEF and CC is a major challenge for which NTPC has proposed a phased implementation plan to achieve the revised environmental norms. Adequate availability of fuel is another challenge for which the company is speeding up captive mining.
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SAIL
Turnaround Shoots
(Maharatna - Manufacturing)
P. K. Singh
Chairman, SAIL
Steel Authority of India Ltd. (SAIL) was incorporated on January 24, 1973,with the objective to plan, promote and organise an integratedand efficient development of iron and steel and associated inputindustries.It has nine manufacturing plants, including 5 integrated plants.
The revenue of the company saw an increase of Rs5,832.8crore to Rs50,302.7crore in 2016-17. The loss of the company has also gone down by Rs1,188.2crore to loss of Rs2,833.24crore in 2016-17. After two difficult years of FY16 and FY17, the company has been able to break even at the operating profit level from Sept. 2017 onwards. This was largely due to higher global prices due to the shutdown of capacities in China, anti-dumping duty on Chinese steel products and pick-up in domestic demand for steel.
Few initiatives taken by the company which helped the company see the shoots of revival were the development of Rowghat-Jagdalpurrail corridor, formation of JV with RITES for manufacture and rehabilitation of railway wagons, JV with Arcellor Mittal for production of automotive steel and setting up of ultra-mega steel plant in Bastar, Chhatisgarh.
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Power Grid Corporation of India
Navratna Fastest Growing Navratna Of The Year (Non-Manufacturing)
I S Jha
CMD, Power Grid Corporation
Power Grid Corporation is a Schedule-‘A’ listed Navratna CPSE in the Power Transmission cognate group under the administrative control of the Ministry of Power with 57.90% shareholding by the Government of India. Power Grid, being the Central transmission utility of the country, has been entrusted with the task of transmission of electric power through its inter-state transmission system by way of construction, operation and maintenance of extra high voltage AC and DC transmission lines and sub-stations. It has also diversified into telecom and consultancy business and is providing services to domestic and international clients with global footprint in 19 countries.
The revenue of the company has gone up by Rs 5,338.16 crore in the financial year 2016-17 from Rs 21,243.30 crore in 2015-16 to Rs 26,581.46 crore in 2016-17. The profit of the company has also increased by Rs 1,571.65 during 2016-17 from Rs 5,948.50 crore in 2015-16 to Rs 7,520.15 crore in 2016-17. The increase in profit is on account of commissioning of assets.
Power Grid’s transmission system wheels about 50 percent of the country’s total generated power with transmission system availability being consistently maintained at more than 99 percent, which is at par with international utilities, by deploying best operational and maintenance practices. The company is playing an active role in development of SAARC grid and enhancement of IR power transfer capacity.
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NMDC
Most Efficient Navratna Of The Year (Non - Manufacturing)
N Baijendra Kumar
CMD, NMDC
NMDC is a Schedule-A listed Navratna CPSE in the other Minerals and Metals cognate group under the administrative control of Ministry of Steel with 74.94% shareholding of the Government of India. It is currently engaged in the mining of iron ore, diamond and production of sponge Iron. It is operating three iron ore production units, two in Chhattisgarh and one in Karnataka. It has one diamond mining project in Madhya Pradesh, one wind mill project in Karnataka and one sponge iron unit in Telangana. It also has one pellet plant in Karnataka.
The revenue of the company registered an increase of Rs 1,471.93 crore during 2016-17, going up to Rs 9,738.45 crore in 2016-17 from Rs 8,266.52 crore in 2015-16. The profit of the company has decreased by Rs 123.08 crore to Rs 2,589.14 crore in 2016-17, from Rs 2,712.22 crore in previous year.
The company has planned to set up a 3 MTPAgreenfield integrated steel plant at Nagarnar in the Bastar district of Chhattisgarh. An MoU has been signed between NMDC and Indian Railways for doubling of the 150 km Jagdalpur-Kirandul section of the Kottavalsa-Kirandul line of the East Coast Railways. Also, it has started work for setting up 15 MTPA slurry pipeline project consisting of 2 MTPA ore beneficiation plant at Bacheli and 2 MTPA pellet plant.
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Rural Electrification Corporation Ltd
Highest Employee Efficiency (Navratna - Non Manufacturing)
PV Ramesh
CMD, REC
Rural Electrification Corporation Ltd. (REC) was incorporated on July 25, 1969, to promote and finance rural electrification schemes in the country. Subsequently, the scope was expanded to include financing of all power projects including generation, transmission and distribution.
The revenue of the company registered an increase of Rs.339.3cr during 2016-17 to reach Rs24,095.3crore,while profit increased by Rs.618.1cr to touch Rs6,245.8crore. The profitability of the company increased on account of growth in loan book. Due to increased profitability and lower employee count, the profit per employee was the best in the Navratna category.
The company has also enlarged its mandate to finance and provide assistance for those activities having a forward and/or backward linkage with power projects including, but not limited to, development of coal and other mining activities for use as fuel in power projects, development of other fuel supply arrangements for the power sector and to meet other enabling infrastructure facilities that may be required for the speedy and effective development of the power sector.
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Container Corporation of India Limited
Highest Wealth Creator - Market Returns ( Navratna - Non Manufacturing)
V. Kalyana Rama
CMD, Container Corporation of India
Container Corporation of India Limited (CONCOR) was incorporated on March 10, 1988, with the objective of serving as a catalyst for boosting India’s export-import trade as well as domestic trade and commerce by providing efficient and reliable multimodal logistic support.
The revenue of the company registered a decrease of Rs343.8crore to Rs5,895.37 crore in 2016-17, while the net profit of the company decreased by Rs92.8crore in the year 2016-17 due to rising costs and competition in the business. The company earned a net profit of Rs858.02 crore in 2016-17 as against profit of Rs950.82 crore in 2015-16. On Dec. 2017 TTM basis, the company has been seeing improvement in margins and profitability, registering TTM net profit of Rs1091crore. Due to this, the stock gave return of 22% over the last 12 months. The stock price touched a high of Rs1487 in the month of January 2018. CONCOR competes with not only with the other container train operators (CTOs) but also with road transporters to grab as much container traffic as possible.
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NBCC (India) Ltd
Highest Order Book (Navratna - Non Manufacturing)
Anoop Kumar Mittal
CMD, NBCC
NBCC (India) Limited (formerly known as National Buildings Construction Corporation Limited) was incorporated on September 1, 1960.The company provides construction, engineering and project management consultancy services in India.
The revenue of the company increased by Rs454.8crore to Rs6,367.9 crore in 2016-17, while profit shot up by Rs64.15crore to Rs351.1crore in 2016-17 due to robust operational performance and sound fundamentals. NBCC will benefit from its robust order book of Rs 80,000crore (as of Q3FY18) due to healthy order intake and expected improvement in execution, post the resolution of land acquisition issues. The company expects order inflows of Rs25,000-30,000 crore in FY19E.
NBCC is focusing on consolidation in areas such as real estate, power, roads, EPC contracts, etc. and entry in the new segment of energy efficient environment-friendly green buildings. Apart from this, development of all real estate projects focusing on the task of redevelopment of old government colonies in the capital by replicating the financially sustainable model adopted earlier for redevelopment of government colony at Kidwai Nagar East, New Delhi in all future projects.
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Hindustan Petroleum Corporation
Navratna & Fastest Growing Navratna Of The Year (Manufacturing)
M K Surana
CMD, Hindustan Petroleum
Hindustan Petroleum Corporation is a Schedule ‘A’ listed CPSE with Navratna status in the Petroleum (Refinery &Marketing) cognate group under the administrative control of Ministry of Petroleum and Natural Gas. HPCL is engaged in crude oil refining and marketing of petroleum products. It has two refineries, one each at Mumbai in Maharashtra and Visakhapatnam in Andhra Pradesh, with a design capacity of 7.5 MMTPA and 8.3 MMTPA, respectively. In addition, the company has a lube refinery with a capacity of 450 TMT, 119 regional offices, 62 depots, 42 terminals/TOPs, 37 ASFs, 47 LPG bottling plants and 14,412 retail outlets.
The revenue of the company registered an increase of Rs 16,429.72 crore during 2016-17, going up to Rs 2,15,317.71 crore in 2016-17 from Rs 1,98,887.99 crore in 2015-16. The profit of the company has gone up by Rs 2,482.64 crore to Rs 6,208.80 crore in 2016-17 from Rs 3,726.16 crore in the previous year. The increase in profit was mainly due to increase in refining throughput, higher domestic market sales, better operating efficiencies and inventory gains.
The strategic challenges for the company are to increase the product self-sufficiency by expanding the refinery capacity, growing market share in the changing dynamic market scenario with the re-entry of private players, consolidation of new business line of natural gas and diversification to new business lines such as renewable and petrochemicals.
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Bharat Electronics
Most Efficient Navratna Of The Year (Manufacturing)
M V Gowtama
CMD, Bharat Electronics
Bharat Electronics Limited (BEL) is a Schedule - ‘A’, Navratna Company and a listed CPSE in the Heavy andMedium Engineering cognate group under the administrative control of Ministry of Defence with 68.19 % shareholding of the Government of India. The company is engaged in production/manufacturing/ services of radars, communication transmitters-cum-receivers andelectro-optic products. The company has nine operational units.
The company’s revenue registered an increase of Rs 1,379 crore during 2016-17 to Rs 9,611.45 crore in 2016-17 from Rs 8,232.45 crore in 2015-16. The profit of the company has gone up by Rs 240.26 crore to Rs 1,547.62 crore in 2016-17 from Rs 1,307.36 crore in previous year due to an increase in turnover. BEL has taken several strategic initiatives for maintaining and enhancing the growth rate in a competitive scenario. These initiatives include laying emphasis on in-house R&D, restructuring of SBUs, thrust on exports and offset, formation of strategic alliances to bridge technology gaps, new business development initiatives, etc. These will help the company to meet competition and maintain leadership position in strategic electronics.
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Mahanadi Coalfields
Miniatna Of The Year (Non Manufacturing)
A. K. Jha
CMD, Mahanadi Coalfields
Mahanadi Coalfields Ltd is a wholly-owned subsidiary of Coal India Limited (CIL). It is a schedule-‘B’ Miniratna CPSE under the administrative control of Ministry of Coal. The company is engaged in production and sale of coal and other incidental and allied activities. The company has sixteen open cast and six underground operational units at Angul, Jharsuguda and Sundargarh districts of Odisha.
The revenue of the company registered an increase of Rs 440.69 crore to Rs 16,468.29 crore in 2016-17 from Rs 16,027.60 crore in 2015-16. The profit of the company has gone up by Rs 296.25 crore to Rs 4,492.01 crore in 2016-17 from Rs 4,195.76 crore in the previous year due to increase in turnover and better price realization.
In addition to its core business of coal production and marketing, the company had taken new initiatives through its subsidiaries and joint venture forsetting up of washeries and undertaking railway works and roads for transportation of coal.
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FCI Aravali Gypsum & Minerals India
Most Efficient Miniratna Of The Year (Non Manufacturing)
Smt Alka Tiwari
CMD, FCI Aravali Gypsum & Minerals India
FCI Aravali Gypsum & Minerals India is a Schedule ‘C’ Miniratna CPSE in the other Minerals and Metals cognate group under the administrative control of Ministry of Chemicals and Fertilizers, Department of Fertilizers, with 100% shareholding of the Government of India. The company is presently engaged in the mining and marketing of mineral gypsum (ROM) and agriculture grade gypsum. Gypsum is used mainly as a sulphur nutrient to the soil, as a soil amendment to sodic soil and also as an input raw material in cement manufacturing.
The revenue of the company registered a decrease of Rs 12.97 crore during 2016-17, going down to Rs 68.42 crore in 2016-17 from Rs 81.39 crore in 2015-16. The profit of the company has gone up by Rs 1.83 crore to Rs 36.03 crore in 2016-17 from Rs 34.20 crore in the previous year.
Most of the high grade gypsum deposits are depleting gradually and, therefore, new areas are required to be explored. In this context, the company had applied for a total of 32 gypsum mines at different locations in Rajasthan, but 25 mining leases became ineligible due to MMRD Amendment Act 2015 and only 7 leases are proposed to be sanctioned, subject to clearance by MOEF. Further, good quality gypsum is being imported by cement industries, which is undermining the market position of the company.
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EdCIL (India)
Fastest Growing Miniratna (Non Manufacturing)
Diptiman Das
CMD, EdCIL (India) Ltd.
EdCIL is a Schedule-‘C’ Miniratna CPSE in the Contracts & Construction and Technical Consultancy Services cognate group under the administrative control of Ministry of Human Resources Development, Department of Higher Education, with 100% shareholding of the Government of India. EdCIL is the only consultancy organization in the education sector covering the entire spectrum of education and human resources development activities on a turnkey and modular basis as a key enabler to set new standards in quality education. EdCIL is also acting as a nodal agency for promotion of Indian education overseas and coordinating as a single window agency for admission of international students to institutions in India. The revenue of the company registered a decrease of Rs7.34 crore during 2016-17, going down to Rs168.22crore in 2016-17 from Rs175.56 crore in 2015-16. The profit of the company has also gone down by Rs2.51 crore to Rs28.45 crore in 2016-17 fromRs 30.96 crore in the previous year due to decrease in revenue.
The company’s growth strategy includes consolidation of existing markets, expanding presence in new markets in a phased manner, adopting a focused approach and revalidating market potential and networking with similar organisations in potential markets.
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Mangalore Refinery & Petrochemical
Miniratna Of The Year (Manufacturing)
Shashi Shanker
CMD, Mangalore Refinery and Petrochemicals
Mangalore Refinery and Petrochemicals Limited (MRPL) is a Schedule ‘A’ Miniratna CPSE in the Petroleum (Refinery &Marketing) cognate group under the administrative control of Ministry of Petroleum and Natural Gas. MRPL is engaged in the business of refining of crude oil. It has two sets of primary process units (Phase I and Phase II) at Mangalore, Karnataka, with an installed capacity of 9.69 MMTPA. The installed capacity has been revised to 11.82 MMT effective from November 2009.
The revenue of the company registered an increase of Rs 8,116.86 crore to Rs 59,853.69 crore in 2016-17 from Rs 51,736.83 crore during 2015-16. The profit of the company has gone up by Rs 2,496.75 crore to Rs 3,643.69 crore in 2016-17 from a profit of Rs 1,146.94 crore in previous year due to exceptional items on account of exchange rate variation and highest ever gross crude processed during the year.
The company commenced the expansion plan for retail outlets in the states of Karnataka and Kerala and it is in the process of establishing its retail network in the refinery zone. The letters of intent have been issued to several shortlisted applicants for time-bound commissioning of new retail outlets. The feasibility study for the locations of additional retail outlets is under progress and the company is expecting to commission a sizeable number of retail outlets over the next few years.
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Numaligarh Refinery
Most Efficient& Fastest Growing Miniratna Of The Year (Manufacturing)
D Rajkumar
Chairman, Numaligarh Refinery
Numaligarh Refinery Limited, (NRL) is a Schedule ‘B Miniratna Category - I CPSE in the Petroleum(Refinery &Marketing) cognate group under the administrative control of Ministry of Petroleum and Natural Gas. The company is primarily engaged in production of petroleum products. The company has a single location petroleum refinery at Numaligarh and two oil marketing terminals, one at Numaligarh and the other at Siliguri
The revenue of the company registered an increase of Rs 2,250.76 crore during 2016-17 toRs 14,317.21 crore in 2016-17 from Rs 12,066.45 crore in 2015-16. The profit of the company has also gone up by Rs 890.75 crore to Rs 2,100.57 crore in 2016-17 from Rs 1,209.82 crore in the previous year due to higher sales realization and better refining margin.
NRL has planned for augmenting its refining capacity from 3.0 MMTPA to 9.0 MMTPA, sourcing incremental crude through imports from Paradip port in Odisha to Numaligarh. It is pursuing a biorefinery project for production of ethanol from bamboo. The proposal is under active consideration of the government.
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MOIL
Highest Wealth Creator - Market Returns (Miniratna - Manufacturing)
M.P.Chaudhari
CMD, MOIL
MOIL is the largest indigenous producer of high grademanganese ore, which is the raw material for manufacturing ferro alloys, an essential input for steel making and dioxideore for manufacturing dry batteries. Presently, it has 10 mines, six of them in Maharashtra and four in Madhya Pradesh. The company has two 50:50 joint ventures with RINL and SAIL.
The revenue of the company registered an increase of Rs324.21 crore during 2016-17, going up to Rs.1210.97 crore in 2016-17, while profit has also gone up by Rs 132.85 to Rs305.83 crore in 2016-17 due to increase in average sales realisation on account ofrise in prices, positive market with good marketing strategies and better product mix. Due to improved financial performance, the stock gave return of 25% over the last one year ended March 2018. In the month of Nov 2017, it touched a high of Rs271.
Manganese ore is one of the most crucial materials for the production of steel and, therefore, the performance of manganese ore industry is interlinked with the performance of the steel industry. The company has planned a production target of 2.2 million tonnes by 2020.
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SJVN
Highest Dividend Yield (Miniratna - Manufacturing)
N.L.Sharma
CMD, SJVN
SJVN is engaged in the generation of power and rendering technical consultancy services for hydroelectric projects and tunnelling works. The three projects commissioned by SJVN are in operation, namely, 1500 MW NathpaJhakri HPS in HP, 412 MW Rampur HPS and 47.6 MW Khirvirewind power project in Maharashtra. The company has also ventured into other forms of energy by taking up ultramega hybrid renewable energy park with a power generation capacity of 4000-5000 MW in Gujarat, 5 MW solar PV project in Gujarat, 1320 MW thermal project in Bihar. SJVN has also diversified into power transmission business for evacuation of generated power.
The revenue of the company registered an increase of Rs216.08crore to Rs3,119.90crore in 2016-17 from Rs2,903.82crore in 2015-16. The profit of the company has also gone up by Rs136.80crore to Rs1,544.14crore in 2016-17 from Rs1,407.34crore in the previous year due to increase in operational efficiency and other income. Company is providing a good dividend yield of 8.12 percent and has been maintaining healthy dividend pay-out ratio of 43.8 percent.
The company management aims to transform the company to cope up with the major challenges arising due to vertical and horizontal growth and excel in all the fields of activities related to power generation from different sources and transmission of the same.
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Chennai Petroleum
Sanjiv Singh
Chairman, CPCL
Turnaround In Profits (Miniratna - Manufacturing) CPCL is a schedule-’B’ Mini-Ratna listed CPSE in Petroleum (Refinery & Marketing) cognate group under the administrative control of Ministry of Petroleum and Natural Gas. CPCL is engaged in refining of crude oil and manufacturing of petroleum products through its two refineries at Manali and Pannangudi near Nagapattinam, both in Tamil Nadu. The product range of the company comprises of motor spirit, high speed diesel, LPG, ATF, naphtha, kerosene, etc. and other allied products like propylene, sulphur, wax, etc. The revenue of the company registered an increase of Rs 5,640.59 crore during 2016-17, going up to Rs 40,647.56 crore in 2016-17 from Rs 35,006.98 crore in 2015-16. The profit of the company has gone up by Rs 287.88 crore to Rs 1,029.75 crore in 2016-17 from a profit of Rs 741.87 crore in the previous year. Major turnaround in profits was seen from FY13 onwards with losses declining from Rs 1766.8 crores in FY13 to net profits of Rs 1029.75 crores in FY17.
The fluctuations in foreign exchange rate and fluctuation in the price of crude and products in the international market present major challenges for the company.
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State Bank OF India
Most Efficient Bank
Rajnish Kumar
Chairman, State Bank India
SBI is the oldest commercial bank in India and is headquartered in Mumbai. The bank provides a wide range of products and services to individuals, commercial enterprises, large corporates, public bodies and institutional customers through its various branches and outlets, joint ventures, subsidiaries and associate companies. SBI now finds itself amongst the world’s largest banks, with a treasury pool of Rs 9,01,642 crore, with 24,017 branches and 59,263 ATMs.
Net interest income increased by 3.8% from Rs72,387 crore in FY16 to Rs75,110 crore in FY17. The operating profit in FY17 rose by 10.87% to Rs 59,572 crore from Rs 53,733 crore. The net loss in FY17 stood at Rs 1,383 crore, as against net profit of Rs 11,590 crore in FY17. The total assets of thebank have increased by 12.21% from Rs 29,61,695 crore at the end of March 2016, to Rs 33,23,191 crore as at the end of March 2017. The net NPA ratio stood at 5.19% in FY17 as against 3.73% in FY16.
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Vijaya Bank
Fastest Growing Bank
R A Sankara Narayanan
MD & CEO, Vijaya Bank
Vijaya Bank was founded on October 23, 1931, by late A.B.Shetty and other enterprising farmers in Mangalore, Karnataka. Vijaya Bank today is a pan-India bank serving diverse sectors of the society. The bank has built a network of 2031 branches, 13 extension counters and 2001 ATMs as on March 31, 2017 that span across all states and Union territories in the country. The driving force behind Vijaya Bank’s every initiative has been its 15,000-plus strong dedicated workforce.
The bank’s total business reached an all-time high level of Rs 2,29,833 crore in FY17. The Savings Bank deposits recorded robust growth of 28.41% to reach Rs 28,835 crore for FY17. The CASA deposits increased to Rs 37,398 crore, up by 28.41%. The bank’s total deposits increased from Rs 1,25,441 crore in FY16 to Rs 1,33,012 crore in FY17, up by 6.04%. The total advances increased from Rs 90,765 crore in FY16 to Rs 96,821 in FY17, up by 6.67%. The credit-deposit ratio improved to 72.79% as on March 31, 2017. Its operating profit increased to Rs 2,421.15 crore from Rs 1,548.87 crore, up by 56.32%, while net profit increased by 96.56% to Rs 750.48 crore from Rs 381.80 crore.
General Insurance Corporation of India
Insurer Of The Year
Alice G Vaidyan
CMD, GIC of India
GIC of India (GIC Re) is a state-owned enterprise in India. It was the sole reinsurance company in the Indian insurance market with over four decades of experience until the insurance market was open to foreign reinsurance players by late 2016 including companies from Germany, Switzerland and France. GIC Re has its registered office and headquarters in Mumbai.
The company’s gross direct premium has increased from Rs18,435.81crore in FY16 to Rs33,585.44 crores in FY17, recording a growth of 82.17% during FY17. The net premium increased from Rs 16,374.78 crore in FY16 to Rs 30,174.55 crore in FY17. The operating profit improved by 51.02% to Rs 2,446.18 crore in FY17 from Rs 1,619.68 crore. The net profit rose by 9.8% from Rs 2,848.39 crore to Rs 3,127.67 crore in FY17. During FY17, the board of directors recommended Rs 1,002 crore at the rate of 233% as the full and final dividend as against Rs 860 crore at the rate of 200% in FY16.
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New India Assurance
Highest Market Share In Gross Premium For 5 Years
G. Srinivasan
CMD, New India Assurance
New India Assurance Co. Ltd., founded by Sir Dorabji Tata in 1919, is a multinational general insurance company headquartered in Mumbai, India. It operates in 28 countries across the world. As on March 31, 2017, the company had a network of 31 regional offices, 7 large corporate offices, 1 auto hub, 457 divisional offices, 588 branch offices, 27 direct agent branches and 1345 micro offices, totalling 2456 offices.
The company’s gross direct premium in India has increased from Rs 15,149.51 crore in FY16 to Rs 19,114.69 crore in FY17, recording a growth of 26.17% during FY17. The company’s foreign operations saw a gross premium turnover of Rs 3,164 crore and a net premium of Rs 2,502.53 crore in FY17. The foreign operations recorded an underwriting profit of Rs 31 crore and profit before tax was Rs 166.63 crore.
The company continues to have dominance in the market share of gross premium in all the product segments since last five years in the insurance industry in India. Its gross premium increased at a CAGR of 15.18% over FY13-17.
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