CG announces Q1 FY 14 results – strong sales and recovery of international operations

 

Avantha Group Company CG today announced its financial results for the first quarter ended June 30, 2013.

Performance Highlights‐ Q1 FY 2014

•    Q1 FY14 – received orders worth Rs. 2441 crores

•    Backlog orders at a record high – Rs. 9771 crores

•    Q1 FY14 Revenues up by 12.3% over Q1 FY13 – Rs. 3157 crores

•    EBITDA  at 4.6% doubles over Q4 FY13

•    PAT Rs. 60 crores for Q1 FY14 vs Rs. 25 crores in Q4 FY13

Highlights of Q1 FY 2014

•    Power business back to profitability reflecting improvement in performance in Belgium and Hungary.

•    Restructuring operations in Belgium completed and savings realized

•    Bagged contract from Power Grid Corporation of India (PGCIL) for 765 kV Power transformer valued at Rs 231.7 crore

•    Sustained orders from Railway segment in India received orders worth Rs. 176 crores

•    Successful exports of energy efficient motors from India

CEO and Managing Director, Laurent Demortier of Avantha Group Company CG said “Q1

FY14 has been an encouraging quarter for CG, despite a challenging market environment. The strategic alignment in our POWER Transmission business in Belgium and Hungary has started to take shape and is on the path to recovery.  The overall savings program across businesses and regions is on track. The performance of all our businesses in India, have shown significant improvement”.

 

 

Avantha Foundation Urban Governance Programme

Governance requires prioritisation from key players. This is especially the case in smaller towns - Urban Local Bodies (ULBs)- that are undergoing rapid transformation and urbanisation. These areas and governing bodies are in a flux, and need support to adapt to the urbanisation and way of life, particularly as urban democratic governance roles and responsibilities are not clearly defined. Neither is there much focus on strengthening systems in these towns. Resources are available to ULBs from the state and centre, but they are all in the form of tied funds. Besides, most of these towns are unaware of how to channelise these resources.

In order to bridge this gap, and offer support in an area that has remained largely untouched, the Avantha Foundation has decided to seed innovation in democratic governance practices in small towns with a population of 25,000 to 50,000, through a fund created to support such innovation. This programme is unique because it aims to recognise best practices within ULBs as an outcome of good democratic governance, thereby establishing its impact on service delivery.

The Avantha Foundation has constituted the ‘Avantha Governance Innovation Fund’ to create/support models of good urban governance that brings together the key players viz the elected representatives, citizens and the bureaucracy on a single platform to resolve a pressing issue of their town.

The thrust of our programme is on encouraging and strengthening innovations in democratic governance through maximised citizens’ participation. This pioneering programme has been envisaged as a collaborative effort between all stakeholders of the ULB (elected representatives, bureaucrats and citizens) to address governance gaps and put in place sustainable systems for strengthening good governance in their town.

Our objectives:

• To recognise good democratic governance in select ULBs and provide a fillip to innovation
• To create awareness about significance of good democratic governance in small urban bodies
• To facilitate systemic change by highlighting best practices that could be replicated
• To empower ULBs by strengthening the democratic process
• To establish seamless interface between citizens fora and elected representatives to ensure good service delivery by the ULB
• To promote learning and experimentation amongst ULBs by creating a knowledge platform

In 2012-13, the target states are Madhya Pradesh and Chhattisgarh. The Foundation has partnered with an NGO - Samarthan, in these states.

Avantha Foundation seeks to create this seed of change, by developing a platform that addresses democratic governance gaps in ULBs. The seed capital provided by Avantha Foundation will incentivise a movement or issue aimed at strengthening good democratic governance and sustainable development.

Why Avantha?

The US$ 4 bn Avantha Group is one of India’s leading business conglomerates. The Group has business interests in diverse areas, including pulp and paper, power transmission and distribution equipment and services, food processing, farm forestry, chemicals, energy and infrastructure, IT and ITeS. With an impressive global footprint that spans Asia, Europe and North America, Avantha operates in more than 10 countries, employing 20,000 people of over 20 nationalities. Avantha is known for its positive work culture that rewards innovation, breeds initiative and encourages intelligent risk-taking. In recent years, Avantha has evolved into a dynamic and knowledge-driven organisation that inspires employees to collaborate and draw from a common knowledge pool, while helping the organisation leverage diverse intellectual insights. Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors. A global employer of choice, Avantha offers excellent opportunities for growth and self-development.

King’s College London confers Honorary Fellowship on Gautam Thapar

    



London,23July2013: Avantha Group’s Founder and Chairman Mr Gautam Thapar received an Honorary Fellowship of King’s College London (Hon FKC) in recognition of his‘exceptional achievements in the fields of industry and philanthropy.

Founded by King George IV and the Duke of Wellington in 1829, King's College London is one of England’s oldest and most prestigious universities: a multi-faculty research-led institution based in the heart of London. The proposal to establish a fellowship of King’s was first considered by the Council of King’s in 1847. Nobel Prize-winners Archbishop Desmond Tutu and Professor Maurice Wilkins, and composer Sir Harrison Birtwistle among others have set up a precedent for the range of distinctions in fellowship.

Gautam Thapar is the Founder and Chairman of Avantha Group, one of India’s leading business conglomerates. His extensive philanthropic record reflects his sense of duty and service,and includes his endowment of the Avantha Chair in the King’s India Institute.

On congratulating Mr Thapar, Professor Sunil Khilnani, Avantha Chair and Director of King’s India Institute,said: Gautam Thapar is exceptional among corporate leaders in embodying a vision that is at once national and global: as leader of the Avantha Group, and in his various philanthropic activities in India and abroad, he has shown commitment to building long term and globally sustainable conditions for India’s
progress and development.

It’s an honour for King’s College London and for King’s India Institute to be associated with him: we too share his vision of contributing to India’s overall advance in a irreversibly globalized world.

‘In awarding Gautam Thapar an Honorary Fellowship, King’s College London welcomes him into the community of its most distinguished members: a Fellowship that includes Nobel prize winners as well as pioneers in the sciences, arts and business. We look forward to his continuing engagement with King’s, and I am personally delighted that he is now Fellow of King’s.

Crompton Greaves Wins Wind Onshore Projects in France

Mumbai, Maharashtra, India, Wednesday, July 03, 2013 -- (Business Wire India)

• Will produce electricity for over 55,000 households

• Estimated reduction in emissions - 130.000 tons of CO2 per year.

Avantha Group Company CG has been awarded a contract worth € 3.5Mn for the design, engineering, supply, installation & commissioning of a “WINDSUB” (wind farm substation) at the 75 MW Seine Rive Gauche Nord wind farm in France, located in the Aube department on the left bank of the river. CG will also be responsible for upgrading/building the overall electrical system.
The project scope includes all electrical, mechanical and civil engineering works, supply of two 45 MVA step-up power transformers, medium voltage and high voltage Air Insulated Switchgear (AIS), Substation Automation System (SAS), buildings and ancillaries.
The substation will help to integrate wind energy and boost power supplies to meet the growing residential demand besides reinforcing the transmission grid and improving reliability, efficiency and power quality. The total 150GWh of installed capacity will produce electricity for over 55,000 households with an estimated reduction in emissions of 130.000 tons of CO2 per year.
The project is scheduled for completion by mid 2014. Substations include equipments that protect and control the flow of electric power, transform voltage levels and facilitate the safe and efficient transmission and distribution of electricity in the grid.
CG was successful against established industry competition in securing this second reference project in the French renewable sector after the 225kV wind substation commissioned in 2011 for VALECO's wind farm “Les monts de Lacaune”.
Commenting on this win, Avantha Group Company CG's CEO & Managing Director, Mr. Laurent Demortier said: “This is yet another proud moment for us. We thank Nordex and H2air for awarding CG the contract. This win demonstrates CG's local project management strengths, and on and offshore track record besides our cost-efficient approach in offering turnkey “design and build” grid infrastructure solutions. The contract is recognition of our offerings and expertise in the renewable energy sector and our commitment to support France's renewal goal and the growing regional electricity needs”.
About Avantha Group Company CG
Avantha Group Company CG is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers. The company is organized into four business groups: Power, Industrial, Automation and Consumer. CG clocks US$ 2.3 billion in revenues from product lines that cover the entire value chain of engineering offerings.
For more information on CG, please visit: www.cgglobal.com.

Avantha Group: Global Green Recognition Award from YUM! India

Yum! India awarded “Recognition Award for 2013” to Global Green during a felicitation ceremony held on 4^th July 2013 at J W Marriot, Chandigarh during YUM! Supplier Conference 2013.
The award from YUM! India is recognition for Global Green’s integrated tomato paste project – the project has helped YUM! India to achieve 100% localisation of tomato paste.
The award was presented by Mr. Vijay Sukumar, Chief – Food Innovation & Quality Assurance and Mr. Mr.Sunay Bhasin, Director Marketing – PH Dining, YUM! India to Mr.Ravi Jadeja, VP Sales (India, Russia & Middle East), Global Green
The conference is an annual event and was attended by the leader’s hip and management Team of YUM! consisting of more than 150 delegates from a wide base of national and international suppliers of YUM! YUM!  Has 39,000 outlets worldwide and YUM! India has now 600 outlets in India (KFC, Pizza Hut, Pizza Hut Delivery and Taco Bell).  YUM! India became the fastest growing multinational QSR chain in India during 2012 by opening 138 outlets in one year and it has a very clear and aggressive store opening plan to achieve a target of 1000 outlets by 2015 and 2000 outlets by 2020.
Yum! though its stringent process of selecting best-in-class suppliers has rightly selected Global Green who already have vast and varied experiences in global food safety, quality and customer servicing. Both companies are looking forward to a synergistic relationship that will be nefit each other in the long run. http://www.globalgreencompany.com/

Avantha Group: The Admired Indian Transnational Business Houses

The Avantha Group is one of India's leading business conglomerates. The Group has business interests in diverse areas, including pulp and paper, power transmission and distribution equipment and services, food processing, farm forestry, chemicals, energy, infrastructure, Information Technology (IT) and IT-enabled services.

Avantha Group is present in 90 countries with more than 25,000 employees worldwide. The company was founded by Lala Karam Chand Thapar in Kolkatta in the year 1933. Earlier, the company was known as the Thapar Group. Avantha Group is India’s second largest producer of coal prior to coal nationalization, the Thapar Group also had interests in sugar, paper, chemicals, textiles, banking, insurance, and engineering products and services. The Thapar Group went on to establish some of India’s most respected institutions, including Oriental Bank of Commerce, Oriental Insurance and Thapar University, to name a few.

The partition of the Thapar Group’s assets amongst its family members was completed at the turn of the century. Avantha is a thriving consolidation of the old conglomerate and Gautam Thapar represents the third generation of the illustrious business family, the baton having been passed on to him by his uncle, Mr. L.M. Thapar and his father, Mr. B.M. Thapar. The group of companies run by Gautam Thapar was rebranded as Avantha, and the new identity launched worldwide on 15th November 2007.

Presently led by Chairman Mr. Gautam Thapar, the Avantha Group demonstrates strong leadership globally and emerged as a focused corporate, leveraging its knowledge, leadership and operations to add lasting value for its stakeholders and investors.

Avantha Group includes companies like Crompton Greaves Limited, India's largest power equipment company, and Ballarpur Industries Limited (BILT), India's largest paper manufacturer, both listed on the Indian stock exchanges.

Across Avantha, good citizenship is a defined objective, with focused emphasis on education and community

With a rich heritage and a modern outlook, the organisation continues to evolve and expand across the globe and the group aims to become one of the most admired Indian transnational business houses by 2015.