Piramal Enterprises Annual Report FY2017 Receives Global Recognition
Author(s): Business Wire India2nd Best From India & Featured Among Top 50 in Asia-Pacific Region at the League of American Communications Professional Awards Mumbai, Maharashtra, India, July 18, 2018: Piramal Enterprises Annual Report...
2nd Best From India & Featured Among Top 50 in Asia-Pacific Region at the League of American Communications Professional Awards
Mumbai, Maharashtra, India, July 18, 2018: Piramal Enterprises Annual Report FY2017 Receives Global Recognition; 2nd Best from India & Featured Among Top 50 in Asia-Pacific Region at the League of American Communications Professional Awards.
Receives Global Recognition: Silver Award in Conglomerates, Holding Companies, Diversified Interest category at the global level
The award recognises best practices in international financial reporting
Piramal Enterprises (PEL) (‘PEL’, NSE: PEL, BSE: 500302), one of India’s large diversified conglomerates, was 2nd best from India (across all industries) for its Annual Report FY2017 and among the Top 50 Reports in Asia-Pacific region (across all industries) at the Vision Awards Annual Report Competition 2017, held by the League of American Communications Professionals (LACP). In addition, PEL also won the Silver Award in ‘Conglomerates, Holding Companies, Diversified Interest’ category at the global level. This award benchmarks and recognises the best practices in international financial reporting.
Built on its core values of Knowledge, Action, Care & Impact, Piramal Group is committed to ensuring the highest standards of transparency, communication and excellence in all its financial and non-financial disclosures and reporting, including governance and ethics.
Mr. Vijay Shah, Executive Director, Piramal Enterprises Limited, said, “We are delighted that Piramal Enterprises’ Annual Report FY2017 was once again recognised at the Vision Awards 2017, alongside some of the top global companies. This award is a testament of our continued efforts at improving the quality and transparency of our disclosures and enhancing the depth of our reporting, enabling investors to make informed decisions.”
PEL’s Annual Report FY2017 demonstrated the company’s ability to consistently transform, evolve, create positive change by efficient capital allocation, strong corporate governance, and foster an entrepreneurial spirit through a values-driven culture.
The Vision Awards Annual Report Competition 2017 drew one of the largest number of submissions ever representing companies across a broad range of industries and organisational sizes. Nearly 1,000 entries were received in this year’s competition, including multiple Fortune 500 companies.
The League of American Communications Professionals LLC (LACP) is an association established in 2001 in order to create a forum within the public relations industry that facilitates discussion of best-in-class global practices within the profession while also recognising those who demonstrate exemplary communication capabilities. The Vision Award in one the largest annual report competitions in the world.
About Piramal Enterprises Ltd
Piramal Enterprises Limited (PEL) is one of India’s large diversified companies, with a presence in Financial Services, Pharmaceuticals and Healthcare Insights & Analytics. PEL’s consolidated revenues were over US$1.6 billion in FY2018, with around 46% of revenues generated from outside India.
In Financial Services, Piramal Capital & Housing Finance Ltd 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 ranging from early-stage private equity, structured debt, senior secured debt, construction finance, and flexi lease rental discounting. The wholesale business in non-real estate sector includes separate verticals - Corporate Finance Group (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 through its group companies provides customized strategies for institutional and retail investors such as Mumbai Redevelopment Fund and Apartment Fund focused (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 long-term equity investments worth ~US$1 billion in Shriram Group, a leading financial conglomerate in India.
In Pharma, through an end-to-end manufacturing capability 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 Product segment in India.
PEL’s Healthcare Insights & Analytics business is the premier provider of healthcare analytics, data & insight products and services to the world’s leading pharma, biotech and medical technology companies and enables them to take informed business decisions.
PEL is listed on the BSE Limited and the National Stock Exchange of India Limited in India.