November 21, 2014 Hotel Four Seasons, Mumbai Organised by:
ASAPP Media Information Group
A perfect backdrop, the stage set, lights on, a packed audience and a group of stellar achievers ready to celebrate victory - the 12th CW Annual Awards were indeed the stuff of magic.
Achange is gonna come! That could well have been the theme song of this year´s event, a clear shift from the sombre mood last year, evident in the buoyancy displayed by winners and industry leaders alike.
Indeed, the achhe din sentiment was palpable. Adding to the upbeat mood was the presence of Anil Swarup, Secretary, Ministry of Coal, Government of India. Our Guest of Honour and CW Man of the Year, he exhorted the private sector to engage with the government in a relationship of trust to steer the country towards growth.
There was a sense of agreement among most people present, though, that the positive sentiment is yet to translate into reality and business. As Somnath Bhattacharjee, President & CEO, Material Handling Solutions Equipment & Project Solutions Business, TIL Ltd, said in his award acceptance speech, ´When the decks are ready and ship is set to sail, we wait for the wind, and in the next few quarters, we are going to see achhe din.´ Vipin Sondhi, Managing Director & CEO, JCB India Ltd, agreed, saying, ´Next year when we meet the mood will be upbeat, and two to three years down the line it will be exhilarating.´
For his part, MV Satish, Senior Vice President and Head Buildings & Factories, Larsen & Toubro Ltd, who won four awards, also envisaged great days ahead for India. ´Last year has been tough, but a great one,´ he said. ´The company´s infrastructure unit contributed 50 per cent along with L&T´s leadership and entrepreneurial qualities. But now, good times just need to be converted into action.´ And K Subrahmanian, Vice Chairman & Managing Director, Afcons Infrastructure Ltd, urged, ´Let us create achhe din.´ He gave the example of the company´s recently completed 64-km road project in Jammu & Kashmir as a rare project that was actually completed six months ahead of schedule. Meanwhile, Vivek Agrawal, CMO, UltraTech Cement, shared, ´In transit outside the recently completed T2 terminal in Mumbai, we saw a foreigner couple clicking a selfie with the airport in the background. This is something we do when we go overseas and that is what India is transforming into.´
Winners of the newly constituted category - India´s Top Challengers - revealed what kept them going in tough times. For Kalyani Steel, it was keeping costs under control by exploring energy options. ´The turf has evolved,´ said Subrahmanian. ´One needs to deploy all tactical management practices; traditional measures will not work.´ While Tata Projects thanked CW and ASAPP Media for bringing the Oscars to the construction industry, Jagdish Gupta, Chairman & Managing Director, J Kumar Infraprojects Ltd, said confidently, ´The development we are about to witness in the next five years, India has not seen in 50 years.´ And Rajeev M Pai, CFO, JSW Steel Ltd, added, ´The next will be the golden decade for India.´
The awards ceremony commenced with the unveiling of the 18th edition of the CW Annual, which carried details on the process followed in selecting the winners, along with viewpoints of top industry doyens on the measures required to forge ahead. Further, Atul Tandan, Chairman, ASAPP Media Information Group, in his speech (Read full speech on page 60), introduced the audience to ASAPP Media´s most recently launched magazine, in addition to its 11 existing publications, ´SOLAR TODAY´.
He said, ´Solar energy is the current focus
of the leader of our nation. Prime Minister Narendra Modi has shown the direction to generate green energy in his earlier role while leading one of the Indian states. In that background, the time for a publication like SOLAR TODAY has arrived.´
Also, with the existing awards category of Most Admired Companies, a new category of ´India´s Top Challengers´ was introduced this year. The Most Admired category takes into cognisance a holistic view of an EPC company´s performance, cutting across functions. Under the Top Challengers category, companies in the universe of contracting, engineering, building materials and equipment were honoured for their resourcefulness and grit. Pratap Padode, Editor-in-Chief & Managing Director, ASAPP Media Information Group, added, ´The selected companies have already seen a lead in their market value, reflecting a vote of confidence from shareholders.´ (Read speech on page 60) And finally, there was a new category, introduced by the jury - Newsmaker of the Year - nominating an industry stalwart who has peopled the news pages in the past year for more than just one reason. The winner: Abhishek Lodha, Managing Director, Lodha Group.
The selection process
To deliberate upon the winners in various categories of India´s largest and fastest growing companies and select the show stealer - the Man of the Year - the panel (Meet the jury on page 58) came together on September 23, 2014, at the Indian Merchants Chamber of Commerce in Mumbai. Anil Swarup, Secretary, Ministry of Coal, Government of India, and Former Additional Secretary, Cabinet Committee on Investments, was awarded CW Man of the Year for his exceptional performance as head of the Project Monitoring Group (PMG).
(Read award acceptance speech on page 59).
Further, a presentation was made on the companies to be considered for India´s fastest growing companies across six categories: Construction; Equipment & Allied Equipment; Cement; Steel; Paints; and Tiles, Ceramics & Sanitaryware. As per practice, a report with quantitative analysis - data sourced from published annual reports and results published by companies - was submitted to the panel to assess.
Even in the case of non-listed firms, such data was sourced from the company directly by seeking audited figures. To ensure authenticity of data during compilation, various checks and balances were put into place. Companies not considered for the awards were those with insufficient data available; or those that suffered losses in FY2014; or whose figures derived mainly from ´in-house performance.´
The jury members discussed the all-round performance of various companies during the period under review and ´industry perceptions´ about them. Data was comprehensively scrutinised, a decision made, and India´s fastest growing companies were arrived at and awarded.
Read on for insights from our guest of honour, list of winners, and images that bring the event to life...
A warm welcome! Pratap Padode with (left) Somnath Bhattacharjee, President & CEO, Material Handling Solutions Equipment & Project Solutions Business, TIL Ltd.