Mumbai, April 27, 2011: SKF India Ltd. was honoured with the prestigious Dun & Bradstreet - Rolta Corporate Awards 2010, for the 5th consecutive year, for its significant contribution to the bearing sector, at the award ceremony conducted in Mumbai on Tuesday.
The awards felicitated 54 of India's leading corporate names across sectors. The occasion also marked the launch of the eleventh edition of Dun & Bradstreet's premier publication, 'India's Top 500 Companies 2010'. D&B's India's Top 500 Companies 2010 was released by Dr R C Sinha, IAS (Retd.), Former Additional Chief Secretary, Government of Maharashtra, who graced the occasion as the Chief Guest,
Mr. Shishir Joshipura - Managing Director, SKF India Ltd. received the award on behalf of the company in the august presence of industry dignitaries at a ceremony in Mumbai. Commenting on the occasion, Shishir Joshipura said, "The Dun & Bradstreet - Rolta Corporate Award is widely respected across the industry and we are delighted to receive this honor for the 5th consecutive year. Continued support from our customers and all other stakeholders has enabled us to consolidate our leadership position. SKF is committed to offering innovative solutions, delivering high value for its customers by leveraging its power of knowledge engineering."
Speaking at the Awards ceremony, Mr Kaushal Sampat, President & CEO - India D&B said "The consistent growth and resilience shown by corporate India is a testimony to the strong economic fundamentals prevalent in the economy. The first three quarters of FY11 remained robust with a renewal in demand across various sectors. The same has been aptly covered in D&B's India's Top 500 Companies 2010, reflective of the changing trends in domestic economy; thereby helping these companies to achieve a healthy 19.4% total income growth in FY11 as compared to a meager 0.6% growth for the corresponding period in the previous year.
"The publication also saw 46 new companies making their debut in this edition of the Top 500. Of these, 8 were newly listed companies. I would like to congratulate the 46 new entrants to the Top 500 and all the award winners," he added.
About SKF India Ltd.
Part of the AB SKF Group and listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), SKF is a leading global supplier in the areas of bearings, seals, mechatronics, services and lubrication systems. The company's service offer includes technical support, maintenance services, engineering consultancy and training. The company has 3 manufacturing plants namely in Bangalore, Pune and Haridwar and services its customers through its strong channel partner network,
Dun & Bradstreet - Rolta Corporate Awards 2010
The 'Dun & Bradstreet - Rolta Corporate Awards 2010' seeks to recognise and felicitate corporate India's leading companies from various sectors. The Awards event is closely tied to the publication, India's Top 500 Companies 2010. Therefore, the base universe of the companies considered for the Dun & Bradstreet - Rolta Corporate Awards 2010 comprised of the top 500 companies of India as covered under the publication.
The awards methodology was applied to this list of top 500 companies, duly classified in their respective sectors. D&B India developed a proprietary financial model for identifying the top companies in each sector. The model is based on the premise of recognising the twin virtues of size and growth of the companies while awarding them. The analyst team identified pertinent financial parameters to fulfill this premise and assigned weights to them. Winners were chosen on the basis of a composite score of these weighted parameters. The eight parameters considered for choosing the award winners include - total income, net profit, net worth, net profit margin, return on net worth, average market capitalisation for FY10, growth in total income and growth in net profit.
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