Ahmedabad-based Adani Enterprises Limited (AEL), the flagship company of Rs 22,000 crore Adani Group has been conferred with the Dun & Bradstreet - Rolta Corporate Award 2008. AEL earned the award for an outstanding performance in trading, a company release stated.
The company was conferred with the award after examining performance of over 500 companies. The selection procedure is based on a proprietary financial model as developed by Dun & Bradstreet India which is applied on top companies in each sector. The model is based on the premise of recognising the twin virtues of size and growth of companies, the release stated.
Financial aggregates were identified to fulfill this premise and weights were assigned to each companies while the final ranking of the companies was based on a composite score of these weighted parameters, the release further stated. Among the eight parameters on which companies were evaluated and considered in ranking for the awards included total income, net profit, net worth, net profit margin, return on net worth, average market capitalization for financial year 2008, growth in total income and growth in net profit.
Speaking on the occasion, Pranav Adani, director of Adani Group said "We thank Dun & Bradstreet for this award and for appreciating our efforts. Adani Enterprise Limited has come a long way and institutionalized the trading approach. Today, we have a well diversified trade basket of energy, agro commodities and metal products."
"AEL has been continuously updating its business model and has graduated to value chain enhancer by forward and backward integration and assets. We were engaged in coal and power trading in past, now we have ventured in to coal mining, power generation and transmission to capture value addition across the chain and enhance value for all our stake holders," he added.
Talking about the awards, Manoj Vaish, president and chief executive officer - India, Dun & Bradstreet said, "In FY '08, profit after tax of the top 500 companies as a whole, grew at 27 per cent year-on-year, while aggregate total income grew at 21 per cent. The consistent growth and resilience shown by corporate India is a testimony to the strong economic fundamentals for the economy. However, 2009-10 will be a challenging year for the Indian corporate sector, as it will test its ability to withstand the vicissitudes in the economy. Much of the groundwork laid out in the past year will define the ability of individual companies to ride out this period of slowdown."