Tom Albanese, CEO, Vedanta, and Ms. Roma Balwani, President, Group Communications and Sustainable Development, receive the ‘Dun & Bradstreet Corporate Award – 2017’ in ‘Mining – Metals & Minerals’ category from Honorable Minister of State (MoS) for Finance & Corporate Affairs, Arjun Ram Meghwal
India CSR News Network
NEW DELHI: Vedanta Limited, India’s leading diversified natural resources company, has been conferred the ‘Dun & Bradstreet Corporate Award – 2017’ in ‘Mining – Metals & Minerals’ Category, for its contribution to the metals and mining’s sector.
Hindustan Zinc Limited, a Vedanta company won the ‘Dun & Bradstreet Corporate Award – 2017’ in ‘Non-Ferrous & Precious Metals’ Category, for the 9th consecutive year. The ceremony was graced by the Chief Guest, Arjun Ram Meghwal, Honourable Minister of State for Finance & Corporate Affairs, Government of India. Leading corporates from 49 sectors were felicitated on the occasion.
“Vedanta Limited is a compelling investment case. The company delivered strong shareholder returns of 205% during FY2017. We are a large diversified asset base geared to base metals and oil, providing sector leading production growth and we are thankful for the faith reposed in the company by all our stakeholders. This award recognizes our commitment and the dedication of our teams to contribute to the India growth story,” said Tom Albanese, Chief Executive Officer, Vedanta Limited.
Vedanta Limited is one of the largest diversified natural companies in the world. Vedanta has got the strongest balance sheet among the Indian and global peers with the net debt-to-EBITDA ratio of 0.4 and gearing of 9%. The company has a low-cost production profile in the lowest quartile and many of the assets aid the company in generating positive free cash flow even at low commodity prices. Recently the company merged with its subsidiary Cairn India to create the only corporate entity with diversified interests across a basket of commodities. The company has established an online platform ‘Eureka’ to nurture and incubate the in-house innovation and technology development with special emphasis on waste products such as fly ash, red mud and slag materials utilization for road building, construction materials, and other applications.
This year was the 11th edition of the Dun & Bradstreet Corporate Awards and was held at Mumbai on 1st June. The theme of this year’s Dun & Bradstreet Corporate Awards 2017 is “Building a New India”. Dun & Bradstreet India has developed a proprietary financial model for identifying the top companies in each sector. The model takes into consideration key financial indicators like business size, growth, profitability, leverage and solvency, among others.