Piramal Enterprises’ FY2019 Annual Report Ranked 1st in India and 8th Globally by League of American Communications ProfessionalsPTI | Mumbai | Updated: 27-02-2020 16:05 IST | Created: 27-02-2020 16:05 IST
• Recognized by the League of American Communications Professionals (LACP) for the 4th consecutive year
o Ranked 8th globally across ~1,000 participating companies; Among Top-10 Annual Reports globally for the 2nd consecutive year
o Recognized as the best Annual Report from India – 3rd time in the last four years
o Best Annual Report in the ‘Conglomerates’ category globally (Platinum Award), across both print and digital formats
o Recognized as ‘Best Report – Financials’ worldwide (Platinum Award)
Piramal Enterprises (PEL) (‘PEL’, NSE: PEL, BSE: 500302, 912460) has been ranked 1st in India and 8th globally, for its FY2019 Annual Report by the League of American Communications Professionals (LACP), at the Vision Awards Annual Report Competition 2018-19. In addition, PEL has been ranked 1st globally (Platinum Award) in the ‘Conglomerates’ category, across both print & digital formats.
PEL’s FY2019 Annual Report, titled “Prudence. Persistence. Performance.” presents the Company’s prudent business strategy and consistency in its execution, which have enabled it to deliver resilient performance in a volatile business environment. The report also highlights the Company’s ability to build a differentiated business model that has stood the test of time.
Mr. Vijay Shah, Executive Director, Piramal Enterprises Limited, said, “We are pleased that Piramal Enterprises’ Annual Report has been again ranked 1st in India and amongst the top-10 globally by LACP, alongside other highly reputed global companies. This is an affirmation of our commitment towards improving the quality and transparency of our disclosures that facilitate informed decision making by our stakeholders.”
Some of the other global companies in the Top-100 rankings include: Johnson & Johnson (rank #9), HDFC Life (rank #22), Dominion Energy (rank #23), Hyundai Elevator (rank #50), Caterpillar Inc. (rank #61), China Mobile (rank #65), Kia Motors (rank #68), Coca-Cola FEMSA (rank #75), CITIC Securities (rank #79), Nornickel (rank #94). Other major companies that also participated in LACP awards include BASF, Citigroup, Infosys, Vedanta, etc.
LACP LLC is an association established in 2001 to create a forum within the public relations industry that facilitates discussion of best-in-class global practices within the profession, while recognising those that demonstrate exemplary communication capabilities.
The Vision Awards competition benchmarks and recognises best practices in international financial reporting, and is one the largest annual report competitions in the world. In 2018-19, over 6,000 entries were accepted from nearly 1,000 companies, across a range of industries and organizational sizes globally.
About Piramal Enterprises Ltd
Piramal Enterprises Limited (PEL) is one of India’s leading diversified companies, with a presence in Financial Services and Pharmaceuticals. PEL’s consolidated revenues were ~US$1.9 billion in FY2019, with around ~40% of revenues generated from outside India.
In Financial Services, Piramal Capital & Housing Finance Limited (PCHFL), wholly owned subsidiary of Piramal Enterprises Limited (the flagship company of Piramal Group), is registered as a housing finance company with National Housing Bank (NHB) and engaged in various financial services businesses. It provides both wholesale and retail funding opportunities across sectors. In real estate, the platform provides housing finance and other financing solutions across the entire capital stack such as structured debt, construction finance, flexi lease rental discounting etc. The wholesale business in non-real estate sector includes separate verticals- Corporate Finance (CFG) and Emerging Corporate Lending (ECL). CFG provides customized funding solutions to companies across sectors such as infrastructure, renewable energy, roads, industrials, auto components etc. while ECL focuses on lending towards, Small and Medium Enterprises (SMEs). PCHFL’s group companies provides customized strategies for institutional and retail investors such as Mumbai Redevelopment Fund and Apartment Fund (through Piramal Fund Management) and strategic partnerships with leading global pension funds such as CPPIB, APG and Ivanhoe Cambridge. The division has also launched a Distressed Asset Investing platform with Bain Capital Credit - IndiaRF that will invest in equity and/or debt in assets across sectors (other than real estate) to drive restructuring with active participation in turnaround. PEL also has equity investments in Shriram Group, a leading financial conglomerate in India.
In Pharma, through end-to-end manufacturing capabilities across 13 global facilities and a large global distribution network to over 100 countries, PEL sells a portfolio of niche differentiated pharma products and provides an entire pool of pharma services (including in the areas of injectable, HPAPI etc.). The Company is also strengthening its presence in the Consumer Products segment in India.
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