PRESS RELEASE Piramal Enterprises Wins Gold at LACP Vision Awards
Piramal Enterprises Limited's Annual Report wins Gold at LACP's 2016 Vision Awards Annual Report Competition
The award recognises best practices in international financial reporting
Mumbai, India; July 19, 2017: Piramal Enterprises Limited ('PEL', NSE: PEL, BSE: 500302), one of India's large diversified conglomerates, has won the Gold Award in 'Conglomerates, Holding Companies, Diversified Interest' category at the 2016 Vision Awards Annual Report Competition, held by the League of American Communications Professionals (LACP). PEL's FY2015-16 Annual Report earned 98 out of 100 points. The awards benchmarks and recognises best practices in international financial reporting.
Built on its core values, 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's Annual Report was recognised at the 2016 Vision Awards, alongside some of the best international companies. This award is a testament to the performance of our teams, and will continue to encourage to improve the quality and transparency of our disclosures, enabling investors to make informed decisions."
Developed under the theme of 'Transforming Consistently. Delivering Value,' PEL's FY2015-16 Annual Report demonstrated the Company's ability to continuously transform, evolve and create positive changes by discovering new or revised business models, based on a vision for the future.
The 2016 Vision Awards Annual Report Competition drew one of the largest number of submissions ever, representing a broad range of industries and organisational sizes. Nearly 1,000 entries were accepted in this year's competition.
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 communications capabilities.
-ends- About Piramal Enterprises Limited
Piramal Enterprises Limited (PEL) is one of India's large diversified companies, with a presence in Pharmaceuticals, Healthcare Insights & Analytics and Financial Services. PEL's consolidated revenues were over US$1.3 billion in FY2017, with 51% of revenues generated from outside India.
In Pharma, through an end-to-end manufacturing capabilities 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, Decision Resources Group, 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.
In Financial Services, PEL, through its Piramal Fund Management Division, provides comprehensive financing solutions to real estate companies. The Division's Corporate Finance Group (CFG) also provides senior and mezzanine growth capital to various businesses across varied sectors that are integral part of India's growth story. The Division has also launched
Distressed Asset Investing platform that will invest in equity and/or debt in assets across sectors (other than real estate) to drive restructuring with active participation in turnaround. The total funds under management under all these businesses are ~US$5 billion. The Company has recently applied for HFC license. The Company also has strategic alliances with top global funds such as APG Asset Management, Bain Capital Credit, CPPIB Credit Investment Inc. and Ivanhoé Cambridge. PEL also has long term equity investments worth ~US$700 million in Shriram Group, a leading financial conglomerate in India.
PEL is listed on the BSE Limited and the National Stock Exchange of India Limited in India.