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Economic issues take a back seat at G20 summit Business Breif TVS Logistics – another acquisition to sharpen the business model Downsizing spree... Digital retail transactions stabilise at higher level… Innovation that helped Chennai port Murugappa- a year of consolidation Hero Motocorp - smooth ride Indigo stays leader with 40 per cent share Chola MS launches motor app TOP 10 CEO Compensation Inclusive and forward moving... Nigeria comes nearer Techies trip to India People Flow Day- Safety European crisis is a global crisis! Placing the right shoe forward... IFCI to raise NCDs upto Rs 2000 crore Reality bytes Veritas Finance- financing the unfinanced Housing Innovation Challenge, 2015 TN budget pragmatic and moderate on fiscal deficit Brand leaders come forward... Climate change may change the way businesses work... Ridley marathon to India An aerospace-defence cluster in Tamil Nadu… Changing dynamics in human resource management STFC raises money Apple maps – finding its way Illicit markets a concern to growing economy Rating of states to be released soon Holiday Inn opens in OMR Chennai ALL to launch electric busses BRICS development bank Secured NCDs from Shriram City Striking cords for 25 years… When Centre visits the state Industry-well poised to invest on expansion Chennai to get a roundabout Metro Waste, a gold mine Scoot offers just Rs.13,500 to ANZ... Bridging the skill deficit in pharma industry Need to focus on ease of doing business... Blue Star plans a new plant in south Is Indian telecom industry heading for a monopoly? ALL-two launches in a row Smart controls for cooling large multi-zone spaces ... LVB gears to become a financial supermarket Realty sector takes a break... Curbing steel imports will hurt small business... ECGC expands operations Adding Zest to Scooty Airlines wage price war World labour laws at a glance Hyundai excites again ISRO's 100th mission Durga - India’s largest blast furnace; now operational Business Briefs Schwing Stetter India joins hands with US-based Gomaco - TCS’ revenues cross Rs 100,000 crore Celebrating 180 years of relevance TiE applauds innovative entrepreneurs CUB: towards card-less withdrawal Realising double digit growth in Tamil Nadu A global plastic event in India Focus on self-certification and third party inspection TII’s single largest investment at Thiruthani On the ‘milky’ way Tata Steel commence operations at Kalinganagar The new look- 4s Verna Automotive Vision Plan II... Big-ticket investments march towards Punjab Steel loses its sheen Applauding enterprise... Flexible labour laws… Towards peace of mind OBO Bettermann for better lightning protection Celebration time at MS Chola Four daughters and a proud father AirAsia India infuses funds to fight out competition WABCO’s second Chennai plant Time to fast-pace the logistics sector Pharma market dozes SumInfra- corridor based development... Auto test tracks launched at GARC Oragadam campus Creating Tamil Nadu Banana brand Dynamic e-commerce scenario Connecting the unconnected ALL – truck industry is recovering from degrowth Nothing to hide... Gem of social service... More gensets and diesel engines from TAFE TII-challenging year with flat growth Well-refined – RIL’s refinery margins zoom Backpack laboratory Strategy war escalates between Hero and Honda Three more leather clusters… Chola MS net crosses 100 crores Chennai Port is at last decongested! Make way for the new and dynamic railways Economic, business and social sustainability Purdue and IIT-M sign the dotted line Chennai will soon get its World Trade Centre Investor friendly Japan Carrefour’s quick exit Research needs more funding An American alliance in the chemical industry? Indian Bank – global businesses crosses Rs 3 lakh crore... Sun Edison launches solar pumps
 
Business Breif

ALL-sales distributed across the nation

IN A RATHER depressing market conditions, Ashok Leyland has gained a market share of 3 per cent even while its target segment, the medium and heavy commercial segment, suffered a sales drop by 25 per cent. “New products, brand establishment and better network coverage have helped us sustain growth,” pointed Vinod K Dasari, Managing Director. With a drop in the traditional MHV, newer products Dost and the ICV segments helped maintain market share. Since its launch, Dost has built a 19 per cent market share with sales of about 35,000 vehicles.

Though the market during the first half of the year is expected to be 10 per cent less than last year, it is expected to go on growth mode from the second half. ALL plans to tap the potential with new product launches and expanded network connections. “Our network grew by 26 per cent in two years and we have 450 full service centers pan India,” pointed Dasari. Apart from the Ashok Leyland brand, brand Dhoni has also added to the sales mileage. What was once a 60-65 per cent sale mainly from southern markets three years ago, it has shifted gear to better distributed sales across the country.

UII’s premium and profits increase

POSTING AN increase in premium income by 13 per cent and profit by 36 per cent, Chennai based United India Insurance Company Ltd had managed to improve the claims ratio to 84.61 per cent. Better underwriting practices and claims control measures deployed throughout the process have helped maintain the niche even during the current turbulent times. “Even after making a provision of Rs 431 crore for pension and gratuity liabilities, profits stood at Rs 527 crore and the premium income at Rs 9266 crore,” said Milind Kharat, Chairman cum Managing Director UIIC.  

The company plans to continue its focus on the retail, MSME and rural sectors. With the recent budget focusing on increasing insurance penetration, UII plans to expand its footprints across tier 4 and tier 5 cities by opening 530 micro offices and employing 25,000 insurance agents. The Rs 600 crore premium Tamil Nadu Chief Minister’s Comprehensive Health Insurance Scheme, rolled out last year covers 1.24 crore families across the state, has been valuable.

“UIICs net worth grew by 9 per cent and our investment income stood at Rs 1777.41 crore,” said S Surenther, Director and General Manager. The premium income was made up by: motor 36.58 per cent, health 28.52 per cent and fire 12.10 per cent.

Bosch sets up greenfield plant

SUBRAMANYA ULLAL, Managing Director, Bosch Electrical Drives India Private Ltd, said that the company expected the net sales to cross Rs 200 crore this year as against Rs 157 crore last year. The Chennai plant has moved from the rented facility at Guduvancherry to a greenfield site spread over 10 acres at Oragadam. Built at an investment of Rs 120 crore, the plant has capacity to manufacture 22 lakh window-lift motors, 700,000 wiper systems and 500,000 thermal systems to leading automobile manufacturers that include Maruti Suzuki, Hyundai, Renault Nissan, Mahindra and Mahindra and Volkswagen.

India’s auto electrical market is estimated at Rs 800 crore and Bosch has a market share of 20 per cent. In the employee strength of 260, women’s share is 90 per cent.

Manfred Baden, Chairman, Bosch Electrical Drives India Private Ltd., was hopeful that the automobile market would revive in the coming year. With India as  base, the company plans to foray into Russia and other emerging markets.

New India domestic premium crosses Rs 10,000 crore

NEW INDIA ASSURANCE has crossed the Rs 10,000 crore premium mark: with domestic premium income of Rs 10,038 crore and overseas’ of Rs 2467 crore. Profits increased from Rs 179.31 crore in 2011-12 to Rs 843.66 in 2012-13. To sustain the momentum and fuel growth, the company plans to introduce more products and focus on overseas markets. “In the current fiscal we will be focusing on Qatar, which is a big market. Canada will be a re-entry and also Myanmar. With our Indian market focus on rural arena, we plan to open more micro-offices in tier III and IV cities and also launch an online platform for motor and health policies,” said Chairman cum Managing Director, G Srinivasan. The company has set up a target of Rs 15,000 crore premium income for the current year.   

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