Star Health – another year of sterling performance
It was another year of spectacular growth for Star Health Insurance. The gross underwriting premium income recorded a 40 per cent growth to a whopping Rs 4155 crore. The company continues to be a leader in the health insurance business.
While most other general insurance companies register underwriting losses or low margins, India’s first stand-alone health insurance company has been recording consistent profits and growth. It has been ensuring a high rate of renewal/retention of around 90 per cent testifying to its customer confidence.
In 2007, Star Health introduced the Rajiv Aarogyasri Health Insurance Scheme in Andhra Pradesh providing health cover for 2.33 crore BPL families covering 6.55 crore lives. The scheme expanded and blossomed into the Chief Minister’s Comprehensive Health Insurance Scheme in Tamil Nadu. The state passed on the business to public sector general insurance companies. This is the largest such scheme provided by a state, covering close to 60 per cent of its population. This brilliant concept, originated by V Jagannathan, was the inspiration for this year’s Union budget proposal that seeks to provide ten crore families health cover of Rs 5 lakh for each family.
The company already covers more than a crore lives and seems ready to get a big chunk of the enormous growth promised by Modicare.
NTPC targets generation of 268 billion units
It has been another year of impressive growth for NTPC, India’s largest power generating company. NTPC has a total installed capacity of 53,651 MW. There is an exciting mix of conventional and non-conventional power stations – 21 coal-based, seven gas-based, 11 solar PV and one each of a large hydro, small hydro and wind power stations; NTPC also has nine subsidiaries/joint venture power stations with employees close to 24,000.
The company has set even more ambitious targets for 2018-19: revenue from operations at Rs 85,500 crore and generation of 268 billion units.
NTPC accounts for nearly a fourth of power generated in the country. The company, set up in the late 1970s, with such renowned leaders like D V Kapur and P S Bamy, has been operating consistently at an average high PLF close to 80 per cent. (The national average PLF has been less than 60 per cent and in several state-run utilities, even less than 40 per cent).
The company has demonstrated robust capability in turning around under-performing state-owned power stations. It recently signed a MoU with the Government of Bihar envisaging transfer of Barauni Thermal Power Station, Bihar State Power Generation Company (BSPGCL) and Nabinagar Power Generating Company Pvt Limited (NPGC) to NTPC. The transfer of these power stations will result in their optimal and efficient utilisation.
Shriram Automall targets Rs 5000 crore revenues in FY 2019
Seven years ago Shriram’s flagship company STFC set up the Shriram Auto Mall India Ltd (SAMIL) that pioneered in offline and online vehicle transaction. During 2017-18 the company transacted business worth over Rs 3000 crore in collaboration with MXC Solutions India Pvt. Ltd which runs both CarTrade.com and CarWale.com, India’s leading online auto marketplace.
SAMIL deals with acquisition and disposal of pre-owned commercial vehicles, construction and industrial equipment, tractors and agricultural equipment, passenger vehicles, three and two-wheelers… The company has been awarded ISO 9001:2015 certification for its quality management system.
SAMIL is India’s most significant physical and online bidding platform for transactions of pre-owned vehicles and equipment and transacted over 120,000 pre-owned cars and equipment valued at Rs 2300 crore during 2017-18 through its 75 Automall outlets. The company has added 500,000 vehicles and equipment on its combined platform.
SAMIL has been conferred with over 20 nationally recognised awards in a short span of seven years. The company aims business worth Rs 5000 crore in the current fiscal.
CarTrade, India’s leading online automotive business, will acquire 51 per cent in SAMIL and will outsource 100 per cent auction business to SAMIL.
