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Home arrow News arrow Business News arrow SKF India wins D&B - Rolta Corporate Award for contribution to bearing sector
SKF India wins D&B - Rolta Corporate Award for contribution to bearing sector Print E-mail
Written by Vijay   
Thursday, 28 April 2011
Mumbai: SKF India Ltd has won the Dun & Bradstreet – Rolta Corporate Awards 2010 for its significant contribution to the bearing sector. The awards felicitated 54 of India's leading corporate names across sectors.

Shishir Joshipura – Managing Director, SKF India Ltd. received the award at the award ceremony conducted in Mumbai on Tuesday. On the occasion D&B's India's Top 500 Companies 2010 was released by Dr R C Sinha, IAS (Retd.), Former Additional Chief Secretary, Government of Maharashtra.

"The Dun & Bradstreet – Rolta Corporate Award is widely respected across the industry and we are delighted to receive this honor for the 5th consecutive year," said Shishir Joshipura. "Continued support from our customers and all other stakeholders has enabled us to consolidate our leadership position. SKF is committed to offering innovative solutions, delivering high value for its customers by leveraging its power of knowledge engineering."

"The consistent growth and resilience shown by corporate India is a testimony to the strong economic fundamentals prevalent in the economy. The first three quarters of FY11 remained robust with a renewal in demand across various sectors. The same has been aptly covered in D&B’s India’s Top 500 Companies 2010, reflective of the changing trends in domestic economy; thereby helping these companies to achieve a healthy 19.4% total income growth in FY11 as compared to a meager 0.6% growth for the corresponding period in the previous year," said Kaushal Sampat, President & CEO – India D&B.

"The publication also saw 46 new companies making their debut in this edition of the Top 500. Of these, 8 were newly listed companies. I would like to congratulate the 46 new entrants to the Top 500 and all the award winners," he added.

SKF has has 3 manufacturing plants in Bangalore, Pune and Haridwar. It's services include technical support, maintenance services, engineering consultancy and training.

Key highlights from the publication:

    The recovery phase of FY10 clearly reflected in 37.9% y-o-y growth in average market capitalisation of Top 500 Companies to Rs 47,166.6 bn, accounting for 86.7% of the total average market capitalisation of the Bombay Stock Exchange (BSE) in FY10.
    Further, aggregate total income of Top 500 Companies, which stood at Rs 29,427.2 bn and grew 5.9% y-o-y was equivalent to approximately 47.9% of India’s GDP at market price. This underscores the important role played by Top 500 Companies in the country’s economic development.
    The double-digit bottom line growth of 24.1% of the Top 500 Companies that is growing at a faster pace than the top line, is yet another positive indicator of the healthy quotient of the economy.
    Growth in PAT resulted in direct benefits for investors in the form of dividend, which stood at Rs 732.5 bn and grew 34.3% y-o-y. Banks have been the top dividend payers since the past three editions of Top 500 Companies. However, their contribution in total dividend decreased from 15.7% in the 2009 Edition to 13.6% in the 2010 Edition.
    In terms of ownership, among the Top 500 Companies, private sector companies dominated in their contribution to aggregate income (49.3%), profit (52.3%), net worth (57.6%) and dividend (43.9%).
    However, performance of foreign companies has been far better than private sector companies and public sector enterprises. Foreign companies recorded robust numbers with the highest growth in total income (13.8%) and PAT (39.8%), and higher NPM (11.8%) and RONW (24.7%).
    The Top 500 Companies were able to manage their debt more efficiently during FY10. Debt-equity ratio of these companies, excluding banks and NBFCs, improved from 0.7 times in FY09 to 0.6 times in FY10 and their interest coverage ratio improved from 6 times in FY09 to 7.5 times in FY10.
    Reflecting the depth and dynamism of India Inc., this year’s edition includes 46 new entrants compared with 42 in the previous edition. Of these, 27 new entrants outperformed their sector averages with either better PAT or top line growth and operating efficiency or a commensurately strong equity performance, ensuring their inclusion in this year’s Top 500.
     The Top 500 companies exhibited a stronger performance for the first three quarters of FY11 with a y-o-y income growth of 19.4%, amounting to Rs 25,206.2 bn during Apr-Dec 2010 as compared to Rs 21,114.1 bn during Apr-Dec 2009.
    A total of 39 sectors out of the total 56 in Top 500 witnessed a growth in PAT during Apr-Dec 2010. Some of the sectors which managed double digit growth during this period include oil exploration, oil refining, real estate, mining and Software & ITeS. Around 53.2% of the companies posted a profit growth of more than 10%; of which 84.2% had a profit growth of more than 20%.

Last Updated ( Saturday, 30 April 2011 )
 
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