Indholdsfortegnelse for August 2023 i Outlook Business

Moviegoers across the world have divided themselves into camps: Barbie and Oppenheimer. While theorists will use their data-weapon to argue that escapism sells well in times of crises to predict a win for Barbie, if box office numbers are anything to go by, the popular vote is tilted in favour of Christopher Nolan's film. It is a biopic free from the trappings of hagiography, where you wildly oscillate between sympathy and hate for the protagonist. Till the very end, you just cannot make up your mind whether J. Robert Oppenheimer is a hero or villain; to force a layered view of a subject where the grey does not merge into the black or white is a rarity in today's polarised world. Polarisation has also divided us into the camps of…

What has been your philosophy in the expansion exercise since the 1970s? It has always been our endeavour to create larger value for society and increase our economic contribution. Therefore, the whole idea has been that we should participate in newer segments. So, the philosophy is to identify market opportunities, areas where there is good headroom to grow and where our institutional capabilities can be leveraged. Secondly, we have always forayed into segments with the commitment that we will invest to become leaders. When I say leadership, it is not just the size or merely the financial metrics, but, very clearly, quality which is at the core of our DNA. The other facet that we have always embraced, much before the “ESG” [environmental, social and governance] concept became a currency,…

DDB MudraMax is the media arm of the DDB Mudra Group, and it is led by its President – Integrated Media, Rammohan Sundaram who only in his 4th year at the helm of affairs has moved the needle northwards in unprecedented times like the Covid and subsequently following it up with steep growth curve for the agency. The agency with offices in Gurgaon, Mumbai, Ahmedabad and Bangalore has a total of over 125 people managing over 50 plus businesses across regions. As per RECMA, its billing is in excess of 350M USD and growing. In the last three years the agency has doubled its revenues with a steep growth curve in digital and also winning some of the largest accounts in the country including the entire Adani Group which has…

C entennial companies have weathered the storms of time, evolving their ownership structures to adapt to the changing dynamics at the macro, meso and micro levels and at socio-economicpoliticalinstitutional, business, society and family levels. A few factors include the institutional framework of the country, industryspecific dynamics, profitability and earnings trends, corporate governance practices, family, state or foreign multinational company ownership and mergers and acquisitions. The evolution of the ownership structure is essential to navigate the challenges thrown by the dynamic environment, and its implications extend beyond financial performance. It influences firm strategies, value, dividend policy, corporate governance, corporate social responsibility, environmental sustainability and industry dynamics. This article looks at some factors that have influenced ownership structures in long-lasting companies. The Great Family Sagas Family ownership has been a prevalent characteristic…

POWERFUL PERFORMERS Throughout various sectors, women have demonstrated their capacity to make a significant impact, and in the field of education, one remarkable woman stands out: Dr. Grace Pinto. Her unwavering commitment to providing quality education has touched the lives of countless children in India, making her a leader and an inspiration to others in her field. With a passion for teaching and a vision for accessible and affordable education, Madam Grace Pinto, alongside her husband Dr. A. F. Pinto, Chairman of Ryan Group, embarked on a mission to establish centers of learning across the nation. As the Managing Director of Ryan Group, Dr. Grace Pinto's business acumen, combined with her deep faith in Lord Jesus Christ, has been instrumental in building one of India's largest privately owned and managed…

In the competitive world of health and beauty markets, there are few leaders who stand out as true torchbearers, and Dr. Udayraj Mishra, the dynamic business leader at Amar Aquatic, is undoubtedly one of them. With over 35 years of experience in various sectors, Dr. Mishra has established himself as an inspirational force, setting new benchmarks for quality and services in the industry. Amar Aquatic, a brand possessed by the Amar Group, has garnered exceptional recognition in the international market as a producer and exporter of Fish Collagen and Fish Gelatin. Thanks to revolutionary strategies, imported technology, and a highly experienced team, the company has received numerous accolades and feathers in its cap. Driven by Dr. Mishra's passionate leadership and vision, the brand has become synonymous with trust and excellence…

Dr. Minnie Bodhanwala, the CEO of Wadia Hospitals, is a woman of extraordinary substance, setting the standard for success in healthcare entrepreneurship. With exposure, experience, and expertise as her building blocks, it is her addition of empathy that truly sets her apart as a powerful performer. Her journey has become an inspiration to professionals and ordinary individuals alike, as she embraces her role as CEO at Wadia Hospitals while also serving as a board member and trustee of various companies and philanthropic organizations within the esteemed Wadia Group – a business conglomerate with a legacy stretching back to the preindependence era. Dr. Minnie, a dental surgeon with a Midas touch, has achieved mind-boggling feats few can rival! Beyond her accomplishments, Dr. Minnie's winsome smile exudes an irresistible aura that brings…

Established by Sayajirao Gaekwad III, ruler of the erstwhile princely state of Baroda, Bank of Baroda is the second largest public sector bank in India after the State Bank of India. It was nationalised in 1969 and was listed on stock exchanges in 1996. Because of its wide international presence, it came to be known as India's international bank. Bank of Baroda was the first to launch mobile branches in 1964. The government of India continues to be its largest shareholder. 14,109.62 crore Net profit of BOB in rupees in FY23 99,614 crore BOB's total income in rupees in FY23 8,384 crore Net non-performing assets of BOB in rupees in FY23, down from Rs 13,364 crore in FY22 Key People SAYAJIRAO GAEKWAD III 1863-1939 ■ Founder Sayajirao is credited with…

The journey of Tata Coffee began as Consolidated Coffee Estates (CCE) Ltd Edinburgh, later renamed as Consolidated Coffee Limited (CCL). The company entered the Tata Group's fold in 1991 when Tata Tea acquired controlling interest in it. CCL was renamed as Tata Coffee Ltd in 2000 and became a subsidiary of Tata Consumer Products Ltd last year. The company currently has over 13,000 employees. In the last 101 years of its operation, it has become one of the biggest integrated coffee cultivation and processing companies in the world and the largest corporate producer of Indian origin pepper. Rs 45.59 billion Market capitalisation of Tata Coffee Rs 1,091 crore Total revenue of Tata Coffee in FY23 Rs 231 crore The company's profit after tax in FY23 Milestones Key People R. HARISH…

Founded by Dorabji Tata in Mumbai, New India Assurance is currently India's largest non-life insurer with the largest market insurance share in the industry at 13.42%. Following the government's General Insurance Business (Nationalisation) Act, it left the Tata fold to become a nationalised entity as the subsidiary of the General Insurance Corporation of India in 1973. It remained thus until 2000 when it became an independent company, after the newly constituted Insurance Regulatory and Development Authority reopened the insurance market, and was delinked from GIC in 2002. New India Assurance's pre-nationalisation parent company, the Tata Group, floated Tata AIG general insurance which replaced it as the lead insurer of Air India this year. FINANCIAL PROWESS FY23 40,786.12* 1,055.40 FY22 35,739.34 164.27 Rs 37,957 crore Net worth of the company, including…

1915 First hydroelectric power generating system with installed capacity of 40 MW commissioned at Khopoli. It is followed by ones with 40 MW capacity in Bhivpuri in 1922 and 90 MW capacity in Bhira in 1927 1956 Company's first thermal power station with a capacity of 62.5 MW commissioned at Trombay, followed by three more in 1960, 1965 and 1997 1984 India's first 500 MW generating unit with multi-fuel burning capability commissioned at Trombay 2000 Tata Hydro-Electric Co. Ltd, Andhra Valley Power Supply Co. Ltd and Tata Power Co. Ltd merged into Tata Power Company Ltd 2003 Tata Power enters joint venture with Power Grid Corporation of India Ltd to develop a 1,200 km long transmission line to bring electricity from Bhutan to Delhi 2006-07 Tata Power buys 30% stake…

The business legacy of the Birlas carries the twists and turns of a soap opera. It has figures of national importance, court dramas and corporate glamour in it. Though the origin of the business history of the family can be traced to Shiv Narayan Birla and his son Baldeo Das Birla, the star of the family was Baldeo Das’ son Ghanshyam Das Birla. The journey of the Birlas as a corporate family started in 1919, when Ghanshyam Das established Birla Jute Manufacturing Co. In the next few decades, the family ventured into automobile, cement, chemicals and steel sectors till Baldeo Das’ children started creating their own territories. Key People G.D. BIRLA 1894-1983 ■ Founder Ghanshyam Das was a towering personality in the Birla family. He was a pioneering industrialist, politician…

Central Bank of India was established as the first commercial bank to be wholly owned and managed by an Indian. The bank was founded by Sorabji Pochkhanawala, a Parsi banker from Mumbai who was influenced by the swadeshi movement. The bank was nationalised in 1969. It is currently present in 28 states and seven Union Territories of India. Key People SORABJI POCHKHANAWALA 1881–1937 Founder Pochkhanawala began his career at the Chartered Bank in London. Deeply affected by the British dominating Indian banking, he decided to open a bank that would be controlled entirely by Indians. PHEROZESHAH MEHTA 1845–1915 First Chairman Mehta was invited by Sorabji Pochkhanawala to became the chairman of the proposed Central Bank of India in 1911. He was the first Parsi barrister called to the Bar from…

Back to Bharat Nagaraja Prakasam (July 2023) The book, through case studies, addresses the present dilemma of Indian entrepreneurs and consumers in terms of economic development and environmental threats as they look for sustainable alternatives in the areas of production and consumption. World Upside Down Sujan Chinoy (July 2023) In his book, Chinoy attempts to provide a seamless narrative of emerging geopolitical challenges with his assessment of India's outlook, responses and role in a rapidly evolving world order. Play to Transform Avinash Jhangiani (July 2023) The author draws from reallife examples to show how play can be used as a catalyst for transformation and innovation. He argues that in the postpandemic world, business leaders need to be more empathetic and agile than ever. The Global Trade Paradigm Arun Kumar (June…

OUTLOOK BUSINESS INITIATIVE Hardly anyone in agriculture does not know about Advanta Seeds. With this in mind, we talked to Mr. Bhupen Dubey, Global CEO of Advanta Seeds. Talking to Mr. Dubey showcased that Advanta Seeds, a seed company of UPL Group, is committed to helping farmers respond to food security challenges and climate change by providing new seed technology and innovation. Advanta aims to re-imagine sustainability. To achieve our goal, we apply new technologies to provide climate smart crops with greater biomass and higher resource efficiency. Currently the governments around the world are becoming increasingly concerned about food security which is the foundation of a country's stability. This is why a lot of attention is given to the food supply. One of the more progressive trends is the growing…

COVER STORY INDIA'S TOP CENTURIONS How has Tata Steel navigated challenges in the last 100 years? Tata Steel, obviously, is the original Make in India story. The idea of Atmanirbhar Bharat that we are talking about is what drove the founder of the Tata Group to set up Tata Steel, Tata Power and Indian Institute of Science, among other notable institutions of modern India. But what is interesting about the origins of Tata Steel is that the best talent was brought from across the world to build the steel plant and a township. So, you had the Americans running blast furnaces, the Germans running a steel mill shop and the English running or rolling mills. Those days, it took months to come by ship to India from Europe or America. There…

COVER STORY INDIA'S TOP CENTURIONS Tell us about the idea behind establishing Bank of Baroda. Bank of Baroda was founded on July 20, 1908, by Maharaja Sayajirao Gaekwad III in the Baroda state, now in Gujarat. Maharaja Sayajirao undertook many progressive reforms for the economic development of the state. One among these was establishing the Bank of Baroda. Its first branch was set up in Mandvi area. Where does the bank stand at present? It has come a long way and is today recognised as a world-class, highly respected Indian financial services institution with presence across the country as well as in 17 other countries. After 115 years, in 2023, it became India's second-largest public-sector bank with a total business of Rs 21,73,236 crore as of March 31, registering a growth…

COVER STORY INDIA'S TOP CENTURIONS How has Brand Hamdard stayed relevant over the last 100 years? It is because of our philosophy of providing quality products to the masses at an affordable price. We have always stayed true to that mission. That is one of our core focus areas, and we have been very successful. This has been proven with Rooh Afza, which is not only the highest selling, but also the most economical, sharbat in that category. It is also known for having the most number of ingredients in that category. Others use synthetic products. They use just sugar and colour. But we use ingredients such as mint, rose petals, orange juice, pineapple juice and cloves. Our motive is also to earn profits, but how to use these profits is…

Zerone Technologies Pvt Ltd is a renowned organization known for its expertise in the field of technology solutions and services. The company is a leading technology solutions provider, offering a wide range of services to clients across various industries. It has established itself as a reliable and trusted partner for businesses seeking innovative and customized IT solutions. Zerone Technologies Pvt Ltd is committed to delivering high-quality products and services, ensuring customer satisfaction and business success. The organization has a team of highly skilled professionals who possess deep domain knowledge and expertise in cutting-edge technologies. The company focuses on providing end-toend solutions, including software development, system integration, cloud services, data analytics, and digital transformation. The company's commitment to innovation and staying up-to-date with the latest technological advancements enable them to deliver…

The landscape of leadership in Indian corporates has evolved over the years, mirroring the dynamic shifts in politics, business, technology, customer expectations, societal demands and globalised markets. The definition of leadership should not be limited solely to individuals who govern and manage organisations, but should also encompass the capabilities that organisations develop to enhance their ability to tackle challenges. The 17 centennial companies in India [which have been profiled in this issue] have diverse origins, ownership and governance mechanisms. Some of these have ventured into related or unrelated sectors, depending on the available opportunities and the leadership vision within the organisation. Indian businesses have adopted a variety of approaches to ensure their survival and success in the upcoming century. The adoption and effectiveness of these approaches may vary among the…

POWERFUL PERFORMERS Dr. Sudhindra Bhat, the driving force behind SS Law Firm, is redefining the legal landscape with his powerful performances and innovative approach. Specializing in crime, family/divorce, civil, IPR, personal injury, property, arbitration, mediation, and corporate law, Dr. Bhat and his team have earned a reputation for delivering top-notch legal services with a personal touch. As a visionary advocate and legal strategist, Dr. Sudhindra Bhat leads SS Law Firm with an unwavering commitment to excellence. Despite years of experience in the field, he continues to learn and grow, always going back to the fundamentals for every task. This dedication sets SS Law apart from its competitors and ensures that the firm stays ahead of the curve. What truly sets SS Law Firm apart is its capacity to generate “out-ofthebox”…

POWERFUL PERFORMERS In the rapidly evolving landscape of the Indian financial industry, one man stands out as a beacon of expertise and guidance, transforming the way individuals perceive and manage their finances. Meet Mr. Ojha, a Patnabased Financial Advisor, Tax expert, Certified Retirement Advisor, CPFA, and Wealth Manager. With an impressive track record in the banking sector, having worked with prestigious institutions like Axis Bank and HDFC Bank, Mr. Ojha is spearheading a revolutionary movement in personal finance. For years, the average investor in India has struggled to keep up with economic growth and make the most of their hard-earned money. Despite a high savings rate and traditional investment options like real estate and gold, many have navigated their financial journey haphazardly, lacking a structured approach to financial planning. But…

The International School of Business and Media (ISB&M) is the Best Media B-School with a successful alumni network and a AICTE approved full fledged media program that focusses on media competence, modern perspectives, and career development that builds upon the 23-year legacy of excellence. ISB&M is led by Dr. Pramod Kumar, an accomplished management expert and educator, who has previously worked at top institutions like XLRI, IIMAhmedabad, and Symbiosis. The faculty is made up of highly qualified graduates from top institutes like IIMs, XLRI, FMS, and SP Jain. With campuses in Pune, Kolkata, and Bangalore, ISB&M has a strong reputation in the field of management education and has established itself as a preferred choice for top industry recruiters. ISB&M PGDM communication and media management program offers a 2 years'full time…

Starting out as Tata Iron and Steel Company, popularly known by its acronym TISCO, Tata Steel now has a market capitalisation of over Rs 1.4 trillion. It was conceptualised by Jamsetji Tata and established by his son Dorabji after his death. It came to be seen as a building block of Nehruvian India. The first block of steel rolled out of the company's Jamshedpur plant in 1912 in the midst of momentous political events, like World War I and when the decision to move the capital of British India to Delhi had been made. What started out as an industrial replica of the Western companies after Jamsetji's American tour now has an annual crude steel capacity of 35 million tonnes per annum (March 2023). 2,43,353 crore was the consolidated revenue…

India has a rich legacy of a century-old companies that started small. However, very few of them grew out of a small shop. MDH, or Mahashian Di Hatti, as Mahashay Chunnilal Gulati's small shop in Sialkot was called, is one such company. Chunnilal's son Mahashay Dharampal Gulati and others in the family shifted to Delhi after Partition, where Dharampal Gulati set up a shop. The journey of MDH as a packaged brand of spices started soon after. Before MDH arrived on the scene, spices were considered household items, which were either prepared within the families or bought unpackaged from the grocer. MDH was one of the first successful companies that changed this perception. Key People MAHASHAY CHUNNILAL GULATI Founder MAHASHAY DHARAMPAL GULATI 1923-2020 ■ Founder The journey of MDH is…

The journey of the multinational conglomerate began when Parmanand Deepchand Hinduja arrived in Mumbai. He started out with the trading business. Five years later, he set up his company's first overseas office in Iran. The company headquarters remained in Iran till 1979, after which it moved base to London owing to the Islamic Revolution of 1979. The Hinduja Group is spread over sectors like automotive, oil and specialty chemicals, banking and finance, IT & ITeS, etc. and is present in 37 countries. The group posted a total income of Rs 3,783.20 million in FY23. Key People PARMANAND DEEPCHAND HINDUJA 1901–1971 ■ Founder Parmanand Hinduja first arrived from Sindh, then a part of undivided India, to work in Mumbai at 14. Initially, he carried out trade between India and Persia, later…

Britannia's origin can be traced back to Kolkata where a group of British businessmen set up a biscuit-making company with an initial investment of Rs 295 in 1892. However, it was in 1918 that the Britannia Biscuit Company Ltd was formed. The company, which specialises in the food industry and is a major FMCG player in India, changed hands multiple times before textile tycoon Nusli Wadia took over the reins. Over the years, it added several products to its bouquet that resonated well with the Indian consumers. Milestones SUSTAINABILITY TARGETS 60% Targeted share of renewable energy in the energy mix used at Britannia plants by 2024 40% Targeted reduction in water consumption by 2024 15 lakh kg of plastic trays in packaging to be eliminated by the end of 2023…

Berger Paints India began its journey in the country in 1923 as Hadfield's (India) Ltd set up by George Hadfield. It changed hands several times—British Paints, Celanese Corporation USA, Berger, Jenson & Nicholson UK, Hoechst AG and United Breweries—before finally landing with brothers K.S. Dhingra and G.S. Dhingra and their associates in the UK Paints Group. Currently, the Dhingra brothers hold almost 73% stake in the company. It is a listed company with market capitalisation of around Rs 652.36 billion. It has 25 manufacturing plants in India, besides plants in Nepal, Poland and Russia. It is also the only supplier to nuclear power plants for protective coatings. Key People GEORGE HADFIELD 1923-1947 ■ India Founder Hadfield, an Englishman, set up Hadfield's (India) Ltd in 1923 with the first factory on…

The origin of the group can be traced back to a cotton mill, Juggilal Kamlapat Cotton Spinning & Weaving Mills, that was started in 1921 by Lala Kamlapat Singhania. In the following years, several other enterprises were launched under the J.K. banner. The organisation has grown to become a multinational conglomerate with varied businesses. It is an association of 40 companies in sectors like cement, paper, tyre, etc. Today, its annual turnover has exceeded $4 billion. It has over 10,000 distributors and an employee base of over 40,000 people. The company has overseas manufacturing operations in Mexico, Indonesia, Romania, Belgium, Portugal and UAE. Key People LALA KAMLAPAT SINGHANIA 1884–1937 Founder Lala Kamlapat Singhania belonged to a Marwari bania family in Kanpur, which was into business since 1775. While his family…

1921 Introduction to the home savings safe deposit scheme to build saving habits among people 1923 Central Bank of India acquires Tata Industrial Bank, which was established in 1917 1924 An exclusive women's department started to cater to the bank's women clientele 1969 Central Bank of India nationalised along with 13 other banks 1976 The merchant banking cell is established 1980 Central Bank launches its credit card, Central Card; is among the first to do so 1989 The bank's housing subsidiary, Cent Bank Home Finance Ltd, launched with headquarters in Bhopal, Madhya Pradesh 2021 Government infuses Rs 4,800 crore capital in the Central Bank through noninterest bearing recapitalisation bonds…

In 1976, Bruce Henderson, the celebrated founder of global management consulting firm Boston Consulting Group (BCG), wrote in a memorandum to BCG Partners: “It would be nice to say that I foresaw the future and planned it as it eventually turned out. But at the beginning, for every firm, the overriding question is: Can you survive?” Henderson sensed way back in 1976 that it was not as difficult to reach the top as it was to stay there—strong and committed. India is home to multiple enterprises that have redefined strength and commitment in their path of survival. They are not only older than the Indian democracy, but stories of their resilience spread through the landscape of 200 years of subjugation under imperial England. Take the case of the Wadia Group.…

During COP 27, India committed to reducing its emissions intensity by 45% from 2005 levels by the year 2030. In the past few years, driven by investments among key stakeholders, particularly in advanced digital infrastructure, manufacturing and energy transition technologies, India has emerged as a prominent force in the global economy. The country's transition to renewable energy (RE) has at its basis the goal of Net Zero emissions by 2070 and within this target, there is a view to create access to reliable and productive green electrification while enabling growth of jobs in the RE sector. As of February 2023, the country's RE capacity stood at 168.96 GW and an estimated $1.3 trillion is required in investments to help India achieve its target of 500 GW RE by the year…

Britannia has changed hands many times, what has made the brand recall persistent? I think Britannia as a brand is rock solid. And I think what builds the centennial companies is their robust business model and strong brand. Without these two, it is almost impossible for a company to sustain for such a long time. The interesting thing about Britannia is that it has changed many hands and remained a fairly robust business. Another interesting thing is that about 10 years back, our market cap was only Rs 3,500 crore, but now it has gone to Rs 1,25,000 crore. So, the journey has had many phases, but for this kind of companies, which have been in existence for a long time, something clicks at some stage, and then they become…

The year 2022 was a momentous one for India as it surpassed the UK as the fifthlargest economy in the world. As for the Raymond Group, it opened what is possibly its most ambitious chapter—the ceremonial handover of Raymond Realty's maiden venture, Ten X Habitat. For a brand reckoned globally for its finest quality fabrics and menswear fashion, it is a reflection of foresight and a testimony to the enduring qualities of trust, quality and excellence that have propelled the group's turnaround. One of Raymond's many privileges in its 98-year-old journey has been growing with and for India. As our country embarks upon a journey of transformation, real estate has been identified as a key growth driver towards nationbuilding. I believe that this is the rise of a new-age India…

My definition of a brand is simple. The brand is a thought that lives in a person's mind. As many people, those many different thoughts of this one brand in question. And that is brand complexity, something that brand-custodians within companies grapple with all the time. As I peek into the lives and times of century-old companies, I am struggling to find that one common element in all of them. Is there one at all? Or are there many? And does knitting all of them together make for the creation of a trueblue timeless brand that has the ability to nurture the love of every generation it caters to, has catered to and will cater to in the future? The 17 companies [profiled in this issue] span literally every type…

In the rapidly advancing realm of sustainable agriculture, there exists a trailblazer that has risen to prominence: AlgaEnergy. Spearheading innovative solutions for agriculture, aquaculture, animal and human nutrition, and cosmetics, AlgaEnergy stands at the forefront of the biotechnology industry. Leading the charge for this transformative company is Mr. Debabrata Sarkar, Chairman & Managing Director of MicroAlgae Solutions India Pvt Ltd & Vice President – Asia Pacific (AlgaEnergy). With over 26 years of experience in the International Agriculture sector and a proven track record as a C-level executive, Debabrata Sarkar has played a pivotal role in revolutionizing the agri industry in India and beyond. Agriculture graduate and IIM Kolkata alumnus, Debabrata Sarkar, possesses exceptional skills in various facets of business, including P&L management, marketing, brand development, and product launch. As CMD…

Be it in your educational sphere, career or personal life, balance is imperative to a well-rounded lifestyle. Similarly, a balanced portfolio is imperative to an optimal investment journey and this balance can be attained through effective diversification. Let us consider how alternate investments, which fall beyond the purview of traditional ones like listed equity and vanilla fixed income, can play a leading role in bolstering your portfolio. Understanding Alternate Investments In simple terms, alternate investments are all investments which do not adhere to the traditional categories of bonds, stocks, mutual funds, and cash. These include a variety of asset classes such as hedge funds, private equity, real estate, private debt, and commodities among other emerging segments. While hedge funds are entities which pool capital from a group of individuals with…

With the current market capitalisation of around Rs 5.8 trillion, this multi-sector company has undergone many changes in over a century of its existence. Right from the name to its portfolio of consumer products, the FMCG major has created a new identity to reflect the changing times. It started as the Imperial Tobacco Company of India—hence the initials—in Calcutta. It was a British company dealing in tobacco products, whose Indian ownership was reflected in the change of name to India Tobacco Company in 1970. Within four years, it dropped the full name, ostensibly to dissociate from the negative connotation of “tobacco”, and was rechristened as I.T.C. Limited. The new name, anyway, better reflected its diversification in other FMCG sectors. ITC continues to be headquartered in Kolkata. 230 million The number…

Catholic Syrian Bank, the first private bank of Kerala, was established in Thrissur district by a group of Syrian Catholic businessmen. Fairfax India Holdings Corporation, a Canadabased investment holding company, acquired it in 2018 when it was making huge losses. Its fortunes changed following the acquisition. The bank registered net profit of Rs 547 crore in FY23, up from Rs 13 crore in FY20. 2019 The year when Catholic Syrian Bank went public with IPO of Rs 409.67 crore 2.15 million Client base of the bank currently 0.35% Net NPA ratio as of March 31, 2023, down from 0.68% the previous year 100 The number of branches opened in FY23, taking the total to 704 CURRENT LEADERSHIP PRALAY MONDAL Managing Director and CEO Mondal took charge as the managing director…

T.V. Sundaram Iyengar was all of 34 years old when he decided to become an entrepreneur in 1911 by starting a bus service in Madurai under the banner T. V. Sundaram Iyengar and Sons Limited. Under this banner, Iyengar started other businesses too, and, with time, it became the biggest family-run business group of south India. Its transport and parcel business went to Southern Motors Limited in 1946. The TVS Group soon added the Madras Auto Service Ltd. and the Sundaram Motors Ltd under its banner and brought General Motors to south India as its largest dealer. Over the years, the group diversified into many sectors with a plethora of companies and saw ownership division among Iyengar's children. FAMILY WEB The TVS Group has three holding companies that hold most…

Another century-old entity in the Tata Group's basket, Tata Power's market capitalisation is around Rs 709.2 billion. It is India's largest integrated power plant, with conventional and renewable energy-generating capacity. The company forayed into renewable energy with Tata Power Renewable Energy Limited in 2007, tapping into wind and solar energy. It aims to be carbon-neutral by 2050, with its focus over the last decade on expanding green energy generation capacity. 10,183 MW Installed capacity for conventional energy generation 3,927 MW Installed capacity for renewable energy generation 56,033 crore Total revenue in rupees in FY23, a 32% y-o-y growth 10,068 crore EBITDA in rupees in FY23, 23% higher than in FY22 14,110 MW Power generation capacity of Tata Power along with its subsidiaries and joint entities 37% Share of power generated…

1760 Lewis Berger lays the foundation of Berger Paints when he arrives in London to sell Prussian blue colour manufacture by him 1923 George Hadfield sets up Hadfield's (India) Ltd with a small paint company in Howrah, West Bengal 1947 British Paints acquires Hadfield's (India) Ltd; company renamed British Paints India 1969 Celanese Corporation, USA, whose subsidiary CELEURO NV, Holland, had acquired British Paints India, sells its India operations to Berger, Jenson & Nicholson, UK, making British Paints (India) a part of the global Berger group 1970 West German company Hoechst AG acquires Berger, Jenson & Nicholson. In 1976, the foreign holding in the company is reduced below 40% after the sale of a portion of the share to Vittal Mallya's United Breweries 1983 British Paints India renamed as Berger…

1924 J.K. Cotton mill incorporated as a private company. It closed down in 1989 following union issues but was reopened in 2009, after the efforts of Yadupati Singhania, great grandson of Kamlapat Singhania 1938 J.K. Paper commences operations with manufacturing of straw boards. It claims to produce paper without harming natural forest trees 1951 J.K. Tyre established. It is said to be the first Indian manufacturer of radial tyres in the country. It has 9 plants in India and 3 in Mexico, and exports to 100 countries 1975 J.K. Organisation acquires Fenner (India) after being a strategic investor of Fenner Cockill Ltd since 1987. It is rebranded as J.K. Fenner (India) Ltd in 2013 2004 J.K. Cement begins operations with grey cement unit in Nimbahera, Rajasthan. Currently, the company has…

COURT ON TRIAL: A DATA-DRIVEN ACCOUNT OF THE SUPREME COURT OF INDIA AUTHORS: APARNA CHANDRA, SITAL KALANTRY, WILLIAM H.J. HUBBARD PUBLISHER: PENGUIN RANDOM HOUSE PAGES: 208 PRICE: Rs 599 We begin with the fact that the judges of the Supreme Court face a crushing case load. As we described in Chapter 1, the Court's pursuit of being a ‘people's court’ has led it to invite a massive flow of SLPs that it must sift through. The Court receives over 60,000 petitions per year. It devotes two days per week—Monday and Friday—to hearings on whether to admit or dismiss these petitions. And because it holds at least one hearing per petition, and sometimes more, before admitting or dismissing the petition, this means that on any given Monday or Friday, the Court…

FAVOURITE MOVIE My all-time favourite is Guide (1965) for its timeless essence. The Dev Anand and Waheeda Rahman-starrer, based on a novel by R.K. Narayan, revolves around the life of a small-time tourist guide in a charming Indian town and his profound journey of self-discovery. The film beautifully portrays the idea that genuine happiness resides within oneself. FAVOURITE BOOK One of my long-standing favourite reads is The Upside of Irrationality by Dan Ariely. Currently, I am re-reading Freakonomics by Steven Levitt and Stephen Dubner. These unconventional books provide intriguing insights into how seemingly logical notions may not always hold true. Perhaps my curiosity is piqued due to the interesting times we are currently living in. FAVOURITE SPORT Golf. It demands patience and reminds players of the importance of paying attention…