Credit counselling must be adopted

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The competition in the counseling business is set to get hotter, as banks too are planning to a make a foray into it. Well, the business is not of career or management counselling (as one may think of), rather it is quite unusual, unheard yet – credit counselling – that will help people in making fiscal assessment of their own and guide them accordingly to raise money from the bank. Taking a pro-active approach, Bank of India, the country’s sixth largest bank in terms of assets, has decided to set up counseling centres to assist the bank in reducing the instances of NPAs. The counsellors will caution customers from getting over leveraged. Although Y. V. Reddy, Governor RBI, has also appreciated the concept, “Credit counselling offers solution to current financial problems and creates awareness about the costs of misusing of credit,” there are lot of issues that still need to be tackled.

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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Forget the US threat to bomb Pakistan, thought in both nations is often back to the Stone Age anyway

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Of all international engagements, the one between US President George W. Bush and his Pakistan counterpart Pervez Musharraf is the most entertaining. There is barely a dull day and they can run through a range of emotions from a bear-hug to betrayal in the matter of hours. Over the past few days, they’ve done just that. Consider this exchange after their September summit in the US. First, Bush: “When the President (Mush) looks at me in the eye and says the tribal deal is intended to reject the Talibanisation of the people and that there won’t be a Taliban and there won’t be alQaeda, I believe him.” Then, Mush: “I trust President Bush and I have total confidence in him that he desires well for Pakistan and for our region. And I trust him also that he’s trying to do his best to bring peace to the world. And I trust him also that he’s trying to resolve the core issue of the Palestinian dispute.” Finally, Bush: “This is a person with whom I’ve now had a close working relationship for five-and-a-half years. And when he says, if we find – when we find – Osama bin Laden, he will be brought to justice, I believe him.”

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

GREAT ‘MILE’ WITH A DISTORTED ‘INCH’!

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It’s wonderful that you published a list of top 100 Indian companies (B&E Cover Feature, issue dated October 5, 2006) on the basis of strong, comparable and valid financial parameters like Market Capitalisation (which is normally considered by all the agencies who rank India Inc. every year), Profit After Tax to Sales ratio and Dividend- Yield. However, it would have been great if you could have considered other major parameters like the asset base separately and growth performances over the years, etc. Also it would have been great if valuation techniques would have been used to rank even unlisted entities as many of them are already market leaders even in the major Indian cities with huge market shares. Hence we have slightly distorted the real image here.

Piyush Lahiri
Mumbai (Maharashtra)

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Cultivating profits

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RCF continues to get ‘Excellent’ ratings from the government since the past five years...
Rashtriya Chemicals & Fertilizers Ltd (RCF), a leading PSU with an ISO14001 certification, is not only amongst the top producers of fertilizers in India (with brands like Ujjwala Urea, Microla and Biola), but is also known for pioneering the manufacturing of basic industrial chemicals. RCF churns out 2.4 million tonnes of fertilizers annually (at a capacity utilisation of 88%) at its Trombay and Thal facilities in Maharashtra.

The company reported a net profit of Rs.1.48 billion in FY06, a rise of 4.96% over the previous fiscal. The company’s net sales also climbed to Rs.30.47 billion during the same period. U. S. Jha, Chairman & MD of RCF acknowledges, “We believe that there are adequate triggers for growth. Though there may be some volatility in near term... in the long run, the company will be able to improve its margins signify cantly.” The company has draft ed a Rs.34.6 billion expansion plan spread over the next three years. In August this year, RCF also unveiled its plans to set up an integrated fertiliser plant in Australia for Rs.24.6 billion. The next time you hear about them, remember, they’re our sectoral #1!

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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