Mr Ch Anantha Reddy, Managing Director of Pennar Industries, has been conferred the ‘Manager of the Year’ award by the Hyderabad Management Association for the year 2010. The award was presented to Mr Anantha Reddy by Smt. D Purandeswari, Hon’ble Minister of State for HRD at a function held by HMA on 10th July 2010 at Hyderabad.
Mr Anantha Reddy is a gold-medalist in Metallurgical Engineering from NIT (then REC) Warangal and a PG Diplomate in Materials Management from IIMM.
Becoming the Executive Director of Pennar in 2000, Mr Anantha Reddy assumed the leadership mantle when the company was adversely impacted by high debt and a severe slowdown in the Indian economy, he turned it around with an effective three-pronged strategy of business and manpower restructuring, financial reengineering, productivity improvement with transparency and result-oriented operation.
Under Mr Anantha Reddy’s guidance, Pennar Industries’ turnover has recorded an impressive increase from Rs 760 million in 2002 to Rs 8600 million in 2009-10. It now has a positive networth of Rs 1600 million, and debt reduced drastically from Rs 2200 million to Rs 180 million.
With a visionary outlook, Mr Anantha Reddy has given Pennar a remarkable makeover from a basic cold-rolled steel maker to a multi-product and multi-location company covering a wide range of industries.
In recognition of his outstanding leadership and managerial skills, as exemplified by the exceptional performance and growth of Pennar Industries, and for the lofty standards of business and professional ethics he has set for himself and his organization, the Hyderabad Management Association has conferred upon him the award of ‘Manager of the Year 2010’.
Under Mr Anantha Reddy’s stewardship, Pennar is poised for another series of significant strides in the engineering, heavy engineering, and infrastructure sectors.