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Forbes
Asia selected a group of 50 listed companies with
the best aggregate scores for long term profitability,
sales and earnings growth. It also took into account
projected earnings and stock price gains for the
"Fabulous 50" award. Grasim Industries
Limited, an Aditya Birla Group company was one
of the Indian companies to make the elite list.
The
award ceremony was held in Putrajaya, Malaysia
on 4 December 2007. The award was given by Mrs.
Rafidah Aziz, the Hon'ble Minister of International
Trade & Industry of Malaysia. Other Indian
companies in the list included ICICI Bank, Infosys,
L&T, Satyam, TCS and Wipro.
Forbes
Asia Fabulous 50 award selection
500 public companies in the Asia-Pacific region
that matched the definition of 'big' decided by
Forbes Asia were screened for sustained and rising
profitability. The ranking did not go by size like
Forbes Global 2000 or by the measure of brand value.
The award winners were selected on the basis of
their performance with sharper growth results amidst
fast-paced competition prevailing in the present
market situation.
Excellent
performance by Grasim
Grasim, a flagship company of the Aditya Birla Group,
has posted good results for the second quarter ended
30 September 2007. Cement and Viscose Staple Fibre
(VSF), its core businesses, have been the growth
drivers. The chemical and sponge iron businesses
have contributed as well. Ongoing modernisation
efforts, upgradation of plants and energy optimisation
have been instrumental to the growth process.
Grasim
has notched up a consolidated net profit of Rs.620
crore, up by 50 per cent and consolidated net
revenue of Rs.3,973 crore, up by 25 per cent .
About
Grasim
Grasim Industries Limited, a flagship of the Aditya
Birla Group, ranks among India's largest private
sector companies, with a consolidated turnover
of Rs.141 billion and a consolidated net profit
of Rs.20 billion (FY2007). Grasim - a VSF and
cement major with strong competitive edge and
global sized operations has domestic leadership
in cement and is a leading global player in VSF
business.
About
Aditya Birla Group
The Aditya Birla Group is India's first truly
multinational corporation. The Group is driven
by a performance ethic pegged on value creation
for its multiple stakeholders. A US$ 24 billion
conglomerate, with a market capitalisation of
US$ 31.5 billion, it is anchored by an extraordinary
force of 100,000 employees belonging to over 25
different nationalities. Over 50 per cent of its
revenues flow from overseas operations.
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