"The controversy surrounding the Nano Project is very unfortunate.

That India's leading corporate group, Tatas, with its exemplary record in social consciousness and stakeholder care, has been caught up in an unseemingly political pull and push is unfortunate.

The Nano project has put India's manufacturing capabilities on the world map. A pullout by the Tatas at this stage would be very unfortunate, and would severely tarnish India's image as an investment destination. A constructive approach is required, and all efforts must be made to ensure that the project implementation goes forward"

This was stated by Mr. Gautam Thapar, Chairman & CEO, Avantha Group (which includes BILT, India's largest paper company and Crompton Greaves, India's largest Engineering Company).

Source: Press release distribution via India PRwire

About Avantha:

The US$ 3 bn Avantha Group is one of India’s leading business conglomerates. Its successful entities include BILT, Crompton Greaves, The Global Green Company, Avantha Power & Infrastructure, Solaris ChemTech, Salient Business Solutions, and Avantha Technologies. International subsidiaries include Pauwels, SFI, Intergarden, Ganz, Microsol and Sonomatra.

The Group has business interests in diverse areas including power transmission and distribution equipments and services, paper and pulp, energy and infrastructure, food processing, farm forestry, chemicals, IT and ITES. Led by Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors.

The Group is on an aggressive growth path, with a targeted turnover of US$ 10 bn and a market capitalization of US$ 25 bn by 2013.

Group website – www.avanthagroup.com

*BILT follows a July 1 – June 30 fiscal year; therefore the current announcement covers the Company’s financial performance for the fourth quarter and twelve months of Fiscal 2008.

Performance highlights for FY 2008 vs FY 2007

FY 2008 (July – June 2008) compared with FY 2007 (July – June 2007):

Paper and Paper products revenues are higher by 18.49% to Rs 26113 million compared to Rs.22039 million in the last year. PBIDT has increased by 22.05% to Rs 7146 million from Rs 5855 million, while PBT is higher by 13.82% at Rs 3740 million compared to Rs 3286 million. The Company’s cash generation from operations (PAT + Depreciation & Amortisation + Deferred Tax Liability) has increased by 16.04 % to Rs 5317 million from Rs.4582 million.

Q4 FY 2007 (April – June 2008) compared with Q4 FY 2007 (April – June 2007):

Paper and Paper products Revenues have grown by 3.37 % at Rs 6865 million compared to Rs 6641 million over the same quarter in previous year. EBIDTA for the quarter has improved by 8.48 % to Rs. 1832 Mn compared to 1689 Mn , while PBT has increased by 1.90 % to Rs 903 million from Rs 886 Million. The Company’s cash generation from operations (PAT + Depreciation & amortization + Deferred Tax Liability) has increased 8.74 % to Rs 1331 million from Rs 1224 million.

Operating overview:

1. PBT growth was 13.82 %, while the Net Profit grew by 19.06 % over the previous year.
2. Net Profit has increased by 19.06 % to Rs 3036 millions from Rs 2550 millions.
3. EBITDA for the year increased by 21.38% to Rs. 7240 millions from Rs 5965 millions.
4. EBITDA margin (net of excise, internal transfers and other income) was 25.57% for the year as compared to 25.73 % during the previous year.
5. Fully Diluted EPS grew from Rs. 2.81 to Rs .4.76, reflecting a growth of 69.40%.
6. Total writing and printing paper production of 152351 MT in Q4 FY 2008 compared to 146707 MT in Q4 FY 2007.
7. Total writing & printing paper sales of 159979 MT in Q4 FY 2008 compared with 147808 MT in Q4 FY 2007.
8. Total writing and printing paper sales at 600411 MT compared to 581909 MT in the last year.
9. Interest costs at Rs. 371 million during the fourth quarter 3.23% higher than the corresponding quarter previous year. Yearly interest cost higher by over 47.74% at Rs. 1482 million.
10. The gross revenues for the current year was 3026 Crores registering an increase of 19.90 %.
11. The PAT was Rs.303.59 Crores as against Rs 256 Crores registering an increase of 19.06% .

Avantha

The US$ 3 bn Avantha Group is one of India’s leading business conglomerates. Its successful entities include BILT, Crompton Greaves, The Global Green Company, Avantha Power & Infrastructure, Solaris ChemTech, Salient Business Solutions, and Avantha Technologies. International subsidiaries include Pauwels, SFI, Intergarden, Ganz, Microsol and Sonomatra.

The Group has business interests in diverse areas including power transmission and distribution equipments and services, paper and pulp, energy and infrastructure, food processing, farm forestry, chemicals, IT and ITES. Led by Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors.The Group is on an aggressive growth path, with a targeted turnover of US$ 10 bn and a market capitalization of US$ 25 bn by 2013.

Source: Press release distribution via India PRwire

Ballarpur Industries Limited

Ballarpur Industries Limited (BILT), part of the US$ 3 billion Avantha Group, is India’s largest manufacturer of writing and printing (W&P) paper. BILT’s subsidiaries include Sabah Forest Industries (SFI), Malaysia’s largest pulp and paper company, and BILT TreeTech Limited (BTTL), which runs BILT’s farm forestry programme in several states in India.

BILT has six manufacturing units across India, which give the company geographic coverage over most of the domestic market. BILT has a dominant share of the high-end coated paper segment in India. The company accounts for over 50% of the coated wood-free paper market, an impressive 85% of the bond paper market and nearly 45% of the hi-bright Maplitho market, besides being India’s largest exporter of coated paper. BILT is the only Indian paper company to feature among the global top 100 – its ranking having been elevated to 87 with SFI’s acquisition in 2007.

Mr. Gautam Thapar, Chairman & CEO, Avantha Group said, “Avantha is embarking on a journey to significantly scale up emerging businesses and leverage its leadership position in established businesses in India and globally. Towards this end, we are strengthening Avantha’s organization structure with the appointment of Ash Gupta and welcome him on board.”

Mr. Ash Gupta said, "I look forward to this challenging assignment with the Avantha Group and hope to contribute to its significant growth.”

Source: Press release distribution via India PRwire

About Avantha:

The US$ 3 bn Avantha Group is one of India’s leading business conglomerates. Its successful entities include BILT, Crompton Greaves, The Global Green Company, Avantha Power & Infrastructure, Solaris ChemTech, Salient Business Solutions, and Avantha Technologies. International subsidiaries include Pauwels, SFI, Intergarden, Ganz, Microsol and Sonomatra.

The Group has business interests in diverse areas including power transmission and distribution equipments and services, paper and pulp, energy, infrastructure, food processing, farm forestry, chemicals, IT and ITES. Led by Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors.

The Group is on an aggressive growth path, with a targeted turnover of US$ 10 bn and a market capitalization of US$ 25 bn by 2013.

He also expressed interest in seeking Geographical Indication (GI) status to Anantagiri Coffee, so as to enhance the market value and assure premium price in overseas markets. As per the memorandum of understanding, while the Tribal Welfare Department will provide working capital as soft loan towards coffee procurement to small and marginal farmers, ITDA will provide coffee saplings and implements such as pruners, baby pulpers to farmers and also monitor the entire programme on a monthly basis. Naandi, on its part, will facilitate Fair Trade and Organic certification for coffee, process coffee and establish market linkages – both national and international.

Importantly, Naandi will ensure higher returns for coffee farmers by complying with specific processing and bean-drying methods. It is in this context that a state-of-the-art Central Coffee Processing Unit (CPU) was set up in December 2007, at Thuraiguda village, Visakhapatnam district, which was inaugurated by Jairam Ramesh, Ministry of Commerce & Industry, in December, 2007 Redya Naik, Minister for Tribal Welfare, GoAP, Sri D Kadmiel, IAS, Director of Tribal Welfare Department and A Sharath, MBA, Project Officer, ITDA, Paderu were also present on the occasion.

Source: Press release distribution via India PRwire

About Naandi’s Araku Organic Coffee project:

The Araku Organic Coffee project is part of Naandi’s Sustainable Livelihood initiatives that aims at economic, environmental and social sustainability.

The programme has successfully converted semi-wasteland into environmental-friendly coffee plantations. Importantly, marginalized farmers are given inputs to grow other fruit crops including banana and pepper, which will act as secondary income sources. Naandi, in a mode of expansion, has introduced the organic farming initiative for small farmers in two very eco fragile areas of the country - Nagaland and the Andaman & Nicobar Islands.

About Naandi:

Naandi Foundation is the new generation social sector organization led by corporate heads such as Dr K Anji Reddy, B Ramalinga Raju, Anand Mahindra, G M Rao, Dr Isher Judge Ahluwalia and Padma Bhusan Chiranjeevi. With interventions such as Safe Drinking Water and Sanitation, Child Rights and Sustainable Livelihoods underway across seven states in the country, Naandi is one of the largest national players in the development sector working with national, international, corporate and civil society organizations to serve and empower underserved communities in urban, rural and tribal areas.

Commenting on the survey findings, Mr. R.R. Vederah, Managing Director BILT said, “It is heartening to be recognized for our efforts. At BILT, we believe in engaging with our stakeholders and employees to ensure the sustainable development of the people and communities we work with, and the environment in which we operate.”

Ms. Yashashree Gurjar, Head–CSR, BILT added, “We have a holistic CSR policy that is linked to the overall development of the communities and the environment. BILT is one of the very few organisations that have aligned their CSR initiatives with the United Nations’ Millennium Development Goals.”

Source: Press release distribution via India PRwire

About Avantha:

The US$ 3 bn Avantha Group is one of India’s leading business conglomerates. Its successful entities include BILT, Crompton Greaves, Global Green, Avantha Power & Infrastructure, Solaris ChemTech, Salient Business Solutions, and Avantha Technologies. International subsidiaries include Pauwels, SFI, Intergarden, Ganz, Microsol and Sonomatra.

The Group has business interests in diverse areas including power transmission and distribution equipment and services; paper and pulp; energy and infrastructure; food processing; farm forestry; chemicals; infrastructure, IT and ITES. Led by Mr. Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors. The Group is on an aggressive growth path, with a targeted turnover of US$ 10 bn and a market capitalization of US$ 25 bn by 2013.

About BILT

Ballarpur Industries Limited (BILT), part of the US$ 3 billion Avantha Group, is India’s largest manufacturer of writing and printing (W&P) paper. BILT’s subsidiaries include Sabah Forest Industries (SFI), Malaysia’s largest pulp and paper company, and BILT TreeTech Limited (BTTL), which runs BILT’s farm forestry programme in several states in India.

BILT has six manufacturing units across India, which give the company geographic coverage over most of the domestic market. BILT has a dominant share of the high-end coated paper segment in India. The company accounts for over 50% of the coated wood-free paper market, an impressive 85% of the bond paper market and nearly 45% of the hi-bright Maplitho market, besides being India’s largest exporter of coated paper. BILT is the only Indian paper company to feature among the global top 100 – its ranking having been elevated to 87 with SFI’s acquisition in 2007.

CSR at BILT

As part of its CSR, BILT works with more than 200,000 people living in remote parts of the country on a wide range of issues including livelihood enhancement, health and education. Formation and strengthening of community-based organisations like self help groups and youth groups, andcapacity building thepanchayat members are an important focus of the programme. The company offers skill training and also helpscommunities set upsmall enterprises through the provision of micro finance at the village level. BILT’s CSR initiatives have been widely recognized, and have been conferred with various awards, including TERI Award for CSR (2003-04), Business for Social Responsibility (BSR) Award for CSR (2005-06), Businessworld FICCI- SEDF CSR Award (2005-06), Asian CSR Award (2005-06), Golden Peacock Global Award for CSR in Emerging Economies (2007), Intel - AIM Corporate Responsibility Award (2007) and TERI Corporate Award for Business Response to HIV/AIDS (2008).

Speaking on the occasion Mr. Gautam Thapar, Chairman Avantha Group said, ‘For India to achieve greater heights in the Pulp & Paper business; R&D will have to play a key role. I strongly believe that research is a core competency and a strategic resource for the Paper Industry.”

Mr. R. Vardhan said, “I am excited about this assignment with RCDP as it fills a major gap and long felt need. RCDP will be the premium research provider for the Pulp & Paper industry.”

RCDP will provide the following services:

1. Research and Development services
2. Process and Environmental audits & Consultancy
3. Knowledge Processing outsourcing services through relationships with leading Research Institutes in the country and overseas
4. Testing and Analytical Services

The RCDP will be governed by independent Management Research Advisory Committee comprising select experts, senior executives and eminent scientists. Introduction of the latest global trends and best practices will accelerate growth in the industry.

“It is imperative for the growth of the Industry that research projects are carried out at different levels and I believe that by providing a competent R&D resource we will create a stronger and healthier Industry,” added Mr. Gautam Thapar.

Source: Press release distribution via India PRwire

About Avantha:

Avantha Group is one of India’s leading business conglomerates. Its successful entities include BILT, Crompton Greaves, Global Green, Avantha Power and Infrastructure, Solaris Chemtech, Salient Business Solutions, and Avantha Technologies. International subsidiaries include Pauwels, SFI, Intergarden, Ganz, Microsol and Sonomatra. The over US$ 3 bn Avantha Group is on the path for a turnover of US$ 10 bn and a market capitalization of US$ 25 bn by 2013. The Group has business interests in diverse areas including power transmission and distribution equipment and services; paper and pulp; energy and infrastructure; food processing; farm forestry; chemicals; IT & ITES. Led by Mr. Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors.

About BILT

Ballarpur Industries Limited (BILT), part of the US$ 3 billion Avantha Group, is India’s largest manufacturer of writing and printing (W&P) paper. BILT accounts for over 50% of the coated wood-free paper market, an impressive 85% of the bond paper market and nearly 45% of the hi-bright Maplitho market in India. BILT has six manufacturing units across the country, with a capacity for producing 4.5 lakh tonnes of paper and 1 lakh tonne of pulp every year. In 2007, BILT acquired Sabah Forest Industries or SFI, Malaysia’s largest pulp and paper company with a production capacity of 1.5 lakh tonnes of paper and over 1.3 lakh tonnes of pulp per annum. This acquisition has elevated BILT’s global ranking to 87.

The 9000 plus units across India employing about 3.5lakh workers directly and equal number indirectly and producing about 30 lakh tonnes of Corrugated Boxes are foreced to go on three day strike demanding higher prices declared Mr G B Shenoy, President of Andhra Pradesh Corrugated Box Manufacturers Association addressing a press conference in Association office today in city.

Corrugated boxes perform a very important role in the value chain of conveying goods from products to users in a safe and very cost effective manner. By using recycled and marginal fibres, Corrugated Boxes help in maintaining the green cover there by reducing greenhouse effect. The turnover of the all over India industry is about Rs 10,000crore.

Adding further M L Agarwal Past president "Asian Corrugated Case Association" & Past president "Federation of Corrugated Box Mfrs of India" said their industry comprises of micre and small scale entrepreneurs has been suffering immensely as it neither has any control on the unbated increase in input costs nor over escalating Kraft Paper prices. This situation is critical and the very survival of the industry is under threat, he added.

Speaking further Mr.G.B. Shenoy added that Corrugated Box Manufacturers have been serving its clients as oneof the most crucial supply chain partners and the eco-friendly alternative to wooden packaging. In the last few years, all commodity prices have skyrocketed and it is the case with Corrugated Box Industry's inputs too. This has crippled the industry to the extent that regular production has started getting affected.

Paper and Board prices are increasing relentlessly since March this year. There is an increase of 30 to 35% so far. Other input costs including steel stitching wire, starch, labour, energy, transportation and other costs have witnessed rise thereby increasing the conversion cost by 60 to 70%.

Keeping in view of this grim situation being faced by us, we have no other alternative than going on strike for three days. If situation is not improved we don't mind going on strike for week days which will be reviewed next month, they added.

Source: Press release distribution via India PRwire

Ms. Yashashree Gurjar, Chief General Manager-CSR, BILT, said, “BILT believes that education and vocational training hold the key to a secure future for the youth.” She added, “Ek Mouka is in sync with our CSR policy, and aims to provide education and employment opportunities to the Yamunanagar youth. With expertise from the CAP Foundation and SARD, the programme will surely be successful.”

Ek Mouka is a new-economy livelihood promotion training programme that seeks to bring the poorer sections of the community into the mainstream. It targets dependents of BILT employees, contractual workers and Self Help Group (SHG) members. The course has modules in Spoken English, Personality Development and Basic Computer Operations to meet the burgeoning service sector employment opportunities at malls, hotels and BPOs. The curriculum has been designed after extensive market research, and is in complete conformity with urgent market needs.

Ms. Nalini Gangadharan of CAP Foundation said, “Ek Mouka provides end-to-end livelihood solutions to the youth using the ‘Business for Community’ platform. We hope that BILT’s association with Ek Mouka will encourage other corporate houses to take up similar initiatives.”

Dr. Ashok Kumar, Unit Head at BILT’s Yamunanagar Unit said, “As part of our CSR, we offer opportunities to the difficult-to-reach sections of young people in society, and equip them with skills required to enter the competitive job market.”

The three-month training programme includes both theoretical and practical sessions, and will be implemented by SARD. The participants need to contribute only Rs. 500/- each for the entire course. The balance amount of Rs 4,000/- per participant will be jointly shared by BILT and CAP Foundation through USAID funding. BILT and Cap Foundation hope to reach out to around 500 youth from the vicinity by the year end. BILT, through its CSR programme, will assist the trained participants in seeking suitable placement.

While CAP Foundation is already implementing vocational training programmes in Delhi and NCR region, SARD has been partnering with BILT for the last five years. Through this partnership, BILT has reached out to around 50,000 people over the last five years. SARD has also partnered with CAP Foundation in New Delhi and has trained more than a 1,000 youth and around 85% of them have already been placed with various business establishments.

Source: Press release distribution via India PRwire

About Avantha:

Avantha Group is one of India’s leading business conglomerates. Its successful entities include BILT, Crompton Greaves, Global Green, Avantha Power and Infrastructure, Solaris Chemtech, Salient Business Solutions, and Avantha Technologies. International subsidiaries include Pauwels, SFI, Intergarden, Ganz and Microsol. The over US$ 3 bn Avantha Group is on the path for a turnover of US$ 10 bn and a market capitalization of US$ 25 bn by 2013. The Group has business interests in diverse areas including power generation and distribution, power transmission and distribution equipment and services; paper and pulp; food processing; farm forestry; chemicals; infrastructure, IT and ITES. Led by Mr. Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors.

About BILT

Ballarpur Industries Limited (BILT), part of the US$ 3 billion Avantha Group, is India’s largest manufacturer of writing and printing (W&P) paper. BILT accounts for over 50% of the coated wood-free paper market, an impressive 85% of the bond paper market and nearly 45% of the hi-bright Maplitho market in India. BILT has six manufacturing units across the country, with a capacity for producing 4.5 lakh tonnes of paper and 1 lakh tonne of pulp every year. In 2007, BILT acquired Sabah Forest Industries or SFI, Malaysia’s largest pulp and paper company with a production capacity of 1.5 lakh tonnes of paper and over 1.3 lakh tonnes of pulp per annum. This acquisition has elevated BILT’s global ranking to 87.

CSR at BILT

As part of its CSR, BILT works with more than 200,000 people living in remote parts of the country on a wide range of issues including livelihood enhancement, health and education. Formation and strengthening of community-based organisations like self help groups and youth groups, andcapacity building thepanchayat members are an important focus of the programme. The company offers skill training and also helpscommunities set upsmall enterprises through the provision of micro finance at the village level. BILT’s CSR initiatives have been widely recognized, and have been conferred with various awards, including TERI Award for CSR (2003-04), Business for Social Responsibility (BSR) Award for CSR (2005-06), Businessworld FICCI- SEDF CSR Award (2005-06), Asian CSR Award (2005-06), Golden Peacock Global Award for CSR in Emerging Economies (2007), Intel - AIM Corporate Responsibility Award (2007) and TERI Corporate Award for Business Response to HIV/AIDS (2008).

About CAP Foundation

Initiated in 1997, CAP Foundation is an innovative public-private partnership to address poverty alleviation through linking learning and livelihood needs of working children and youth at risk to equitable and promising market oriented employability opportunities. This Hyderabad-based foundation has developed a very strong resource base not merely in terms of creatively mobilizing monetary resources but also a series of other resources including successfully tested facilitation modules, training of trainer’s modules, professional technical support for market-oriented livelihood programme development, volunteers, business mentor networks, police involvement in protection and rehabilitation, alumni and community goodwill.

The CAP Foundation has an impressive footprint in terms of its approach, training content and methodology, capacity building of service providers, placement support trainees and sustainability of market oriented entry level workforce development with active collaboration with corporates, businesses, professional mentors, government departments and funding agencies.

About SARD

Society for All Round Development (SARD) is a non-profit organization aimed at increasing the participation of minorities and disadvantaged communities in mainstream development processes. SARD’s goal is to empower these groups, particularly women and adolescent girls, by improving their access to quality education and health services; providing vocational training; introducing micro-credit schemes; and promoting environmentally sustainable income generating activities. SARD takes a holistic and integrated approach to development that favours the sustainability of its programmes by providing people access to tools, training and structures they need.

Organized by The Energy and Research Institute (TERI), in association with German Technical Cooperation (GTZ), the award acknowledges the efforts of companies that have successfully launched and executed HIV/AIDS intervention programmes at their workplace, community or supply chain. The award also seeks to mainstream the private sector in the fight against HIV/AIDS. The initiatives of all winners, including BILT, will be subsequently published by TERI in a special compendium titled “Best practices for HIV/AIDS interventions in the Indian Industry.”

Mr. R.R. Vederah, Managing Director, BILT, said, “BILT has a well-defined HIV/AIDS prevention programme that has reached out to over 40,000 people. We are thankful to TERI for recognizing our efforts, and we hope these awards will encourage more private participation in HIV/AIDS prevention initiatives.”

Ms. Yashashree Gurjar, Chief General Manager, Corporate Social Responsibility for BILT said, “We are grateful to TERI and GTZ for this honour. At BILT, we have implemented a comprehensive HIV/AIDS programme that covers employees, casual workers, truckers and transporters as well as communities living around our six manufacturing locations across the country. Besides generating awareness, we are proactively involved in the prevention and treatment of HIV/AIDS. BILT runs an anti-retroviral treatment (ART) centre at Ballarpur, Maharashtra, in collaboration with the State Government. This is the first such public-private partnership in the state. We also have another ART centre coming up later this year at our unit in Sewa, Orissa.”

In the past BILT has won several awards and accolades for its CSR initiatives. These include the national level TERI Award for CSR (2003-04), the national level Business for Social Responsibility (BSR) Award (2005-06), Businessworld FICCI-SEDF CSR Award (2005-06), Asian CSR Award (2005-06), the Golden Peacock Global Award for CSR in Emerging Economies (2007), and the Intel - AIM Corporate Responsibility Award (2007).

Source: Press release distribution via India PRwire

About Avantha:

Avantha Group is one of India’s leading business conglomerates. Its successful entities include BILT, Crompton Greaves, Global Green, Avantha Power and Infrastructure, Solaris Chemtech, Salient Business Solutions, and Avantha Technologies. International subsidiaries include Pauwels, SFI, Intergarden, Ganz and Microsol. The over US$ 3 bn Avantha Group is on the path for a turnover of US$ 10 bn and a market capitalization of US$ 25 bn by 2013. The Group has business interests in diverse areas including power generation and distribution, power transmission and distribution equipment and services; paper and pulp; food processing; farm forestry; chemicals; infrastructure, IT and ITES. Led by Mr. Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors.

About BILT

Ballarpur Industries Limited (BILT), part of the US$ 3 billion Avantha Group, is India’s largest manufacturer of writing and printing (W&P) paper. BILT accounts for over 50% of the coated wood-free paper market, an impressive 85% of the bond paper market and nearly 45% of the hi-bright Maplitho market in India. BILT has six manufacturing units across the country, with a capacity for producing 4.5 lakh tonnes of paper and 1 lakh tonne of pulp every year. In 2007, BILT acquired Sabah Forest Industries or SFI, Malaysia’s largest pulp and paper company with a production capacity of 1.5 lakh tonnes of paper and over 1.3 lakh tonnes of pulp per annum. This acquisition has elevated BILT’s global ranking to 87.

CSR at BILT

As part of its CSR, BILT works with more than 200,000 people living in remote parts of the country on a wide range of issues including livelihood enhancement, health and education. Formation and strengthening of community-based organisations like self help groups and youth groups, andcapacity building thepanchayat members are an important focus of the programme. The company offers skill training and also helpscommunities set upsmall enterprises through the provision of micro finance at the village level. BILT’s CSR initiatives have been widely recognized, and have been conferred with various awards, including TERI Award for CSR (2003-04), Business for Social Responsibility (BSR) Award for CSR (2005-06), Businessworld FICCI- SEDF CSR Award (2005-06), Asian CSR Award (2005-06), Golden Peacock Global Award for CSR in Emerging Economies (2007), Intel - AIM Corporate Responsibility Award (2007) and TERI Corporate Award for Business Response to HIV/AIDS (2008).

This service is now available across 30 countries worldwide and over 39 locations in India at a very affordable price. Each mango is carefully handpicked and checked for blemishes. And only the best Alphonoso mangoes go into the gift pack. The fruits are scientifically packed with air ventilators to ensure that the mangoes reach the destination in a fresh and ready-to-eat condition. TNT Mango Bytes is a single window solution that saves customers from the hassles of choosing the best mangoes, packing and shipping them to the end destination.

“At TNT we have always tried to move beyond the standard operating services in the express industry and provide a high level of customised and cost-effective solution to our customers.

Our in-house studies showed that people are constantly looking for an end-to-end solution that includes the right gift, a tamper-proof packaging as well as a reliable express service. We at TNT India have leveraged this opportunity to offer Mango Bytes, by combining our expertise in global express distribution and a little innovation in gifting, said Mr Sanjiv Kathuria, Country Director Sales& Marketing.

For further information and to place TNT Mango Bytes order, customers can call TNT toll free on 1800 425 9999 from MTNL/BSNL network landlines. Alternatively you can call TNT on 6000 9999 from your mobile phones and private networks or email to in.marketing@tnt.com. To customize and add special touch, TNT encloses a hand-written, personalised message from the sender on a specially designed complimentary card.

TNT in India

TNT India Pvt Ltd is a fully owned subsidiary of TNT N.V. In India, TNT was established in the year 1994, making it the first and the only multinational express company to set up operations on its own. TNT India specialized in providing international door-to-door express delivery solutions. In February 2006, it forayed into the domestic express segment and in September 2006, acquired Speedage Express Cargo Services, one of the leading road express companies in India. TNT’s expansion plan in India is in line with the global strategy of focusing on building quality networks in emerging markets.

Source: Press release distribution via India PRwire

TNT provides businesses and consumers worldwide with an extensive range of services for their mail and express delivery needs. Headquartered in the Netherlands, TNT offers efficient network infrastructures in Europe and Asia and is expanding operations worldwide to maximize its network performance. TNT serves more than 200 countries and employs around 139,000 people. Over 2006, TNT reported €10.1billion in revenues and an operating income of €1,276million. TNT N.V. is publicly listed on the stock exchanges of Amsterdam and New York. TNT recognizes its social responsibility, and has formed partnerships with the United Nations World Food Programme and the United Nations Environmental Programme to fight hunger and pollution in the world.

With NCR’s two-sided thermal (2ST) printing technology, receipts are printed on both sides of the paper simultaneously. This can result in up to a 40 per cent reduction in paper usage at the point of sale and – in some applications – even more. This is in addition to reducing queues at the checkout because of fewer stoppages for roll changes and boosting the green credentials of the retailer through reduction in transport usage as well as less paper.

NCR 2ST also offers retailers the opportunity to customise coupons and other promotions at the point of sale, which can lead to more effective encouragement of consumers to trial new products and increase their frequency of purchase. UK research shows that redemption rates among retailers that use NCR 2ST vary between 50 and 60 per cent and in-store spending increase by between 0.5 and 1 per cent.

The NCR 2ST paper is produced from sustainable managed sources, originating from: wood plantations, regulated forests, recycled saw mill waste and arboreal debris.

Philip Tenwick, Fortoak’s Managing Director comments on the NCR technology, “NCR 2ST is really innovative with lots of attractive features that will interest our varied customer base. I particularly like how it enables retailers to cost effectively print customer communications quickly by store or transaction rather then having pre-printed rolls that might change or expire over time.”

NCR 2ST can print in a different colour on each side of the receipt - blue, black or red. Two-sided thermal printing can be used in a wide range of applications including point-of-sale receipts, ATM statement printing and transaction receipts, event ticketing, gaming and self-service kiosks.

Andy Johnston, NCR’s Channel Director for the UK and Ireland, comments, “Interest in NCR 2ST technology is high. Our partnership with Fortoak will help meet this demand in the UK and Ireland. I expect that in the next few years two-sided thermal printing will replace one-sided receipts for many applications.”

Fortoak has been manufacturing and distributing receipt printers rolls for ATMs, checkout and mobile payment terminals for over 30 years and has a customer base of over 150,000 organisations. As a Gold Level NCR RealPartner, Fortoak benefits from NCR’s Quick Ship programme, an online ordering and tracking service that guarantees a short delivery time, in addition to a range of sales and marketing services.

Source: Press release distribution via India PRwire

Fortoak is a manufacturer and distributor of PDQ rolls, fax rolls, Credit Card Rolls and ATM Rolls. Their Sales Office is based in the East Midlands. Their warehouse facilities are in West Yorkshire, having well-trained staff of over 100 employees who are devoted to great quality service and providing quality products to satisfy their customers.

About NCR Corporation

NCR Corporation (NYSE: NCR) is a global technology company leading how the world connects, interacts and transacts with business. NCR’s assisted- and self-service solutions and comprehensive support services address the needs of retail, financial, travel, healthcare, hospitality, gaming and public sector organizations in more than 100 countries. NCR (www.ncr.com) is headquartered in Dayton, Ohio.

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NCR is a trademark of NCR Corporation in the United States and other countries.

The Award function was organized by Dun & Bradstreet in association with American Express and Rolta India at Mumbai, India. The Dun & Bradstreet – American Express Corporate Awards 2007 internationally honors specific companies from various sectors through developing proprietary financial model. Dun & Bradstreet’s ‘India’s Top 500 Companies 2007’ profiles India’s most respected and high performing companies on the basis of various financial parameters.

Mr. R. R. Vederah, Managing Director, BILT, said, “Over the decades, BILT has consistently maintained a leadership position in the Indian paper industry. Besides our commitment to our investors and stakeholders, we have always endeavored to be a partner in the economic growth and development of India. We thank Dun & Bradstreet and American Express for honouring BILT.”

In the recent past, BILT has won several awards and accolades in the fields of business, environment and CSR. These include the Intel–AIM CSR Award, the Golden Peacock Global Award for Corporate Social Responsibility in “Emerging Economies 2007” and the Asian CSR Award at the international level; the Greentech Environment Excellence Award, the National Award for Excellence in Energy Management, the TERI Award for CSR, the Business for Social Responsibility (BSR) Award, and the BusinessWorld FICCI-SEDF CSR Award at the national level; and the state level Excellence in Energy Conservation & Management awarded by MEDA.

Some of the other companies that have been recognized by Dun & Bradstreet, along with BILT, as leaders in their respective sectors are Reliance Industries Ltd in Oil – Refining & Marketing, SAIL in Iron & Steel, Bharti Airtel in telecom services, Infosys Technologies in software & ITeS and Hindustan Unilever in the FMCG sector.

Dun & Bradstreet, the world’s leading source of global business information, knowledge and insight, has been enabling companies to Decide with Confidence® for 165 years. D&B’s global commercial database contains more than 100 million business records. The database is enhanced by D&B’s proprietary DUNSRight® Quality Process, which transforms the enormous amount of data collected daily into decision-ready insight. Through the D&B Worldwide Network – an unrivaled alliance of D&B and leading business information providers around the world – customers gain access to the world’s largest and highest quality global commercial business information database.

Source: Press release distribution via India PRwire

About BILT:

Ballarpur Industries Limited (BILT) is India’s largest manufacturer of writing and printing (W&P) paper. More than 50% of India’s coated wood-free grades roll out of BILT’s state-of-the-art plants. The company boasts of an impressive 85% of the bond paper market and nearly 45% of the hi-bright Maplitho market in India.

BILT has six paper mills in the states of Orissa (Unit Sewa), Haryana (Unit Shreegopal), Maharashtra (Units: Ballarpur, Bhigwan and Ashti) and Andhra Pradesh (Unit Kamlapuram). BILT’s units have a consolidated capacity of over 465,000 metric tonnes per annum, while Unit Kamalapuram has a pulp mill with a capacity for manufacture of 100,000 tpa of rayon grade pulp. All units (except Ashti) posses captive power generation capacities and, with the exception of Bhigwan & Ashti, also possess captive pulp making capacity. Together, these units give the company geographic coverage over most of the Indian market. BILT’s recent acquisition of Malaysia’s Sabah Forest Industries (SFI) has elevated this over US$ 600 mn company’s global ranking to 87.

About Avantha Group:

Avantha Group is one of India’s leading business conglomerates. Its successful entities include BILT, Crompton Greaves, Global Green, BILT Power, Solaris Chemtech, Biltech Building Elements, and Salient Business Solutions. International subsidiaries include Pauwels, SFI, Intergarden, Ganz and Microsol. The over US$ 3 bn Avantha Group is on the path for a turnover of US$ 10 bn and a market capitalization of US$ 25 bn by 2013. The Group has business interests in diverse areas including power generation and distribution, power transmission and distribution equipment and services; paper and pulp; food processing; farm forestry; chemicals; infrastructure, IT and ITES. Led by Mr. Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors.

For Further Information:
Shravani Dang Zamir Khan
Group Head of Corporate Communications Image Inc.
Ballarpur Industries Limited Tel: +91- 11- 41327970
Tel: +91 124 4099436 / +91-9811261080 Mobile: +91-9871150270
Email: sdang@bilt.com zamir@image-publicrelations.com

“BILT has recorded a strong growth this quarter. Effective cost management, coupled with a firm demand for paper due to stable market conditions, has helped in the growth this quarter. The ongoing positive macroeconomic trends and a positive industry cycle are key factors for strengthening our optimistic outlook in the coming quarters.”

*BILT follows a July 1 – June 30 fiscal year; therefore the current announcement covers the Company’s financial performance for the half-year and second quarter of Fiscal 2008.

BILT (H1 FY 2008 v/s H1 FY 2007)

• Paper Revenues increase 4.6% to Rs 10590.30 million compared with Rs 10123.50 million. Total Revenue at Rs 12285.20 million compared with Rs 11799.90 million.
• PBIDT higher by 9.93% at Rs 3015.40 million compared with Rs 2743 million.
• PBT advances by 11.30% to Rs1736.40 million from Rs 1560 million.
• PAT higher by 12.71 % at Rs 1357.20 million compared with Rs. 1204.10 million.
• Fully Diluted EPS higher by 6.44 % at Rs6.78 compared with Rs. 6.37.
• Cash generation from operations (PAT + Depreciation + Deferred Tax Liability+ Amortisation) has increased by 7.67% to Rs 2364.9 Million from Rs. 2196.40 million.

BILT (Q2 FY 2008 v/s Q2 FY 2007)

• Paper Revenues increase 1.34 % to Rs 5244.20 million compared with Rs 5174.70. million. Total Revenue at Rs 6171.30 million compared with Rs 6024.70 million.
• PBIDT higher by 6.37% at Rs 1495.60 million compared with Rs 1406.10 million.
• PBT advances by 5.97 % to Rs 855.30 million from Rs 807.10 million
• PAT higher by 7.32 % at Rs 667 million compared with Rs.621.50 million.
• Fully Diluted EPS higher by 2.46 % at Rs 3.33 compared with Rs. 3.25
• Cash generation from operations (PAT + Depreciation + Deferred Tax Liability+ Amortisation) has increased by 4.30 % to Rs 1170.60 million from Rs. 1122.30 Million.

• Total paper production of 231935 MT in H1 FY 2008 compared to 229119 MT in H1 FY 2007.
• Total paper production of 114812 MT in Q2 FY 2008 compared to 114723.MT in Q2 FY 2007.
• Total paper sales of 230633 MT in H1 FY 2008 compared with 229099 MT in H1 FY 2007.
• Total paper sales of 114815 MT in Q2 FY 2008 compared with 115603 MT in Q2 FY 2007.
• Interest costs at Rs. 462.40 million during the half year; 9.62 % Higher than the corresponding period of previous year.

Source: Press release distribution via India PRwire

About BILT

Ballarpur Industries Limited (BILT) is India’s largest manufacturer of writing and printing (W&P) paper. More than 50% of India’s coated wood-free grades roll out of BILT’s state-of-the-art plants. The company boasts of an impressive 85% of the bond paper market and nearly 45% of the hi-bright Maplitho market in India.

BILT has six paper mills in the states of Orissa (Unit Sewa), Haryana (Unit Shreegopal), Maharashtra (Units: Ballarpur, Bhigwan and Ashti) and Andhra Pradesh (Unit Kamlapuram). BILT’s units have a consolidated capacity of over 465,000 metric tonnes per annum, while Unit Kamalapuram has a pulp mill with a capacity for manufacture of 100,000 tpa of rayon grade pulp. All units (except Ashti) posses captive power generation capacities and, with the exception of Bhigwan & Ashti, also possess captive pulp making capacity. Together, these units give the company geographic coverage over most of the Indian market. BILT’s recent acquisition of Malaysia’s Sabah Forest Industries (SFI) has elevated this US$ 600 mn company’s global ranking to 87.

About Avantha Group

Avantha Group is one of India’s leading business conglomerates. Its successful entities include BILT, Crompton Greaves, Solaris Chemtech, Global Green, Biltech Building Elements, BILT Power and Salient Business Solutions. International subsidiaries include Pauwels, SFI, Intergarden, Ganz and Microsol. The over US$ 3 bn Avantha Group is on the path for a turnover of US$ 10 bn and a market capitalization of US$ 25 bn by 2013. The Group has business interests in diverse areas including power generation and distribution, power transmission and distribution equipment and services; paper and pulp; food processing; farm forestry; chemicals; infrastructure, IT and ITES. Led by Mr. Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors.

Mr. Raju said the company would be registering a 30 per cent increase , he said the company posted a turnover of Rs 45 crore last year, and targeting turnover of Rs 60 crore for the current year.

Commenting on the fact that Ecoboard had not been in the limelight since 1999, Mr. Raju said the company had faced certain financial problems during the period. During the past three years, it had entered into negotiated settlements of its term liabilities with financial institutions and banks that included interest and partial principal waivers to the tune of Rs 37.8 crore.

The company, he said, had cleared all its debts by March 2007. He added that now the company was focusing on developing its markets and was sure to touch a turnover of Rs 100 crore by 2010.

Mr Raju pointed out that their two facilities at Islampur and Pandharpur, were utilizing only 45 per cent of its capacity. Both the facilities put together have a capacity of 51 lakh sq mt. During 2006, it had manufactured only 23 lakh sq mt of particle board, and during 2007, the target was hiked to 30 lakh sq mt. “When the capacities are utilised fully, we should be able to reach the target. After three years, the facilities would be expanded,” he said.

Source: Press release distribution via India PRwire

The validation consisted of correspondence and meetings with BILT Head-Internal Audit (HIA) and QA team leader, including advising HIA on the QA project and discussing the related processes and tools. The team also carried out a detailed review of the self – study and work papers prepared by the QA team and testing of the procedures and results of the self-assessment.

The validation process was integrated with interviews of the chairperson and members of BILT’s Audit Committee, and senior executives. Post which, IAA reviewed the set audit work papers, as well as reading selected CAS reports submitted to BILT clients and the Audit Committee in 2007. Lastly, a review of the draft report was prepared by the QA team along with supporting documentation of QA findings and evaluation of conformity to the IIA standards and code of ethics.

“The Institute of Internal Auditors, U.S.A., has certified BILT's corporate audit services as India's first internal audit department to conform to its Standards and Code of Ethics. This is a matter of great honour and pride for us. This certification acknowledges our audit department's path breaking efforts in setting up world class structure, policies and processes,” said Mr. B. Hariharan, Group Director - Finance & Member of Board, Avantha Group

Established in 1941, The Institute of Internal Auditors (IIA) is an international professional association with global headquarters in Altamonte Springs, Fla., USA. The IIA is the internal audit profession's global voice, recognized authority, acknowledged leader, chief advocate, and principal educator. Members work in internal auditing, risk management, governance, internal control, information technology audit, education, and security.

The mission of The Institute of Internal Auditors is to provide dynamic leadership for the global profession of internal auditing. The key objectives that are undertaken by the Institute of Internal Auditors include:

• Advocating and promoting the value that internal audit professionals add to their organizations;
• Providing comprehensive professional educational and development opportunities;
• standards and other professional practice guidance; and certification programs;
• Researching, disseminating, and promoting to practitioners and stakeholders knowledge concerning internal auditing and its appropriate role in control, risk management, and governance;
• Educating practitioners and other relevant audiences on best practices in internal auditing;
• Bringing together internal auditors from all countries to share information and experiences;

Source: Press release distribution via India PRwire

About Avantha Group:

Avantha Group is one of India’s leading business conglomerates. Its i successful entities include BILT, Crompton Greaves, Solaris Chemtech, Global Green, Biltech, BILT Power and Salient Business Solutions. International subsidiaries include Pauwels, SFI, Intergarden, Ganz, Microsol. The over US$ 3 billion Avantha Group is on the path for a turnover of USD 10 billion and a market capitalization of US$ 25 billion by 2013. The Group has business interests in diverse areas including Power generation and distribution, Power transmission and distribution equipment and services; paper and pulp; food processing; farm forestry; chemicals; infrastructure, IT and ITES Led by Mr. Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate leveraging its knowledge leadership and operations adding lasting value for its stakeholders and investors.

For further information contact:
Ms. Shravani Dang Mr. Zamir Khan
Group Head – Communications Assistant Manager
Avantha Group Image Inc.
e-mail: sdang@bilt.com e-mail: zamir@image-publicrelations.com
Mobile: +91-9811261080 Mobile: +91-9871150270

The Bid/ Issue closed on August 30, 2007 and it was subscribed 2.95 times. The IPO received bids for 5.19 crore shares, which includes bids for 1.74 crore share at the cut off price. The Qualified Institutional Bidders (“QIBs”) portion was subscribed around 2.34 times; the Non-Institutional Investors portion was subscribed around 3.9 times while the Retail investors portion was subscribed around 3.39 times (Source: National Stock Exchange).

The equity shares are proposed to be listed on the Bombay Stock Exchange Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”).

Magnum Ventures Ltd. is engaged in the business of trading and manufacturing of paper for more than 25 years. The existing manufacturing activities cover writing and printing paper; and duplex boards with an installed capacity of 85,000 MT per annum, based on 3 shifts and 330 working days in a year. The Company has three manufacturing units for its paper facilities, located at plot No. 18/29, 18/30, 18/31 and 18/41, Site-IV, Industrial Area, Sahibabad, Uttar Pradesh. Now, it is planning to modernise its production facilities of its Paper Unit II and III by technological upgradation including replacement of plant and machinery with regard to manufacturing of duplex board, writing and printing paper, and allied sections such as chemicals and fibre recovery section, recycling of backward system, etc., at a project cost of Rs. 50 crore.

The Company also plans to venture into the hospitality sector and is setting up a 4-Star business hotel with 212 rooms, conference halls, food & beverages and other facilities, in Sahibabad District, (Ghaziabad) (close to Delhi), at a cost of Rs. 102.63 crore. It has entered into a Management Agreement and Territory Licence agreement with the Country Development & Management Services Private Limited (CDMS), which has the right to offer franchise of the hotel brand, “Country Inn & Suites By Carlson®”.

Magnum Ventures Ltd. had appointed SREI Capital Markets Ltd. as the Book Running Lead Manager (“BRLM”) to the Issue.

Source: Press release distribution via India PRwire

For further details contact:
Mr. Himanshu Kapadia, Adfactors PR, 91-98213 58418

Asok Kumar, director of Asian operations for Palmetto Industries, said: “The first thing that impresses our customers is the extremely clean operation and organised layout of the entire factory.” He continues, “In over 18 years in this industry, I have never previously seen any company that has a total commitment to customers, employees, the community and the environment.”

Palmetto India’s factory is also claimed to be the first FIBC production plant which is committed to becoming totally “green”. Not only does the company combine leading edge production machinery and highly efficient manufacturing procedures, but all construction materials and labour are sourced from the immediate vicinity. “Though Palmetto has had a rich history in India and has the credit of facilitating the first FIBC made in India, this factory will raise the bar for all other FIBC manufacturers” said Shankar Balan, chairman and CEO. “Today, we are one of the largest manufacturers and distributors of FIBCs, but our intent has never been to become the largest, but to be the best – and by achieving that, growth comes naturally,” continues Balan.

Globally Palmetto has risen to the forefront of FIBC manufacture and distribution, as several leading multi-national chemical manufacturers have recognised the high quality of the company’s products coupled with its exceptional service. With warehouses throughout North America and several parts of Europe and Asia, Palmetto is capable of servicing most locations within a 24-48 hour period. Innovation continues to be the driving force at Palmetto’s factories. New designs and products remain the focal point of the Palmetto Technology Center which was set up early last year in Chennai. Since Palmetto caters for the needs of customers who use more than just FIBCs, the synergies of the other products – whether they be multi-wall paper, PP/BOPP or intermodal container liners – assist in creating and sharing best practices and solutions for its customers. Every product manufactured and distributed by Palmetto goes through a rigorous quality inspection. For this reason it is not surprising that Palmetto has set itself the target of qualifying for 6 Sigma and pharmaceutical/food-grade certifications as mandatory.

Source: Press release distribution via India PRwire

Palmetto Industries International was established in 1994 and ranked as the second fastest growing company in the USA within its second year of operation. It is a 100% vertically integrated manufacturer and distributor of commercial packaging products which include FIBCs, multi-wall paper bags, PP/BOPP bags and intermodal container liners. With a market presence in Asia, Europe, North and South America and Australia and with factories in India and China, Palmetto has become the preferred supplier and industrial packaging partner for many of the Fortune 500 companies.

http://www.palmetto-industries.com/

While recommending to SUBSCRIBE to the issue with a medium to long term outlook, Anand Rathi Securities Ltd.’s analyst report states, The Company has delivered aggressive growth in the last couple of years & post the expansion of the product portfolio, more avenues of growth are being opened to the company. Also, the geographical expansions into Europe & Middle-East will provide further growth momentum to the company.

In its report, Religare states that the Company is “well-packaged”. It mentions, New overseas projects will drive performance amidst strong economic growth. Referring to its valuation, the Religare report mentions, “The IPO price band represents P/E of 16.4 to 17.8X on FY07. The Company’s annualized EPS for 9mFY07 on post-issue equity works out to Rs. 17.7. As the IPO price band of Rs. 220-315, the P/E multiple on annualized FY07 EPS comes to 16.4-17.8X. This appears attractive when compared to the average P/E multiple of 20.3X trailing twelve month (TTM) earnings for the plastic industry and 30.6X TTM for the packaging industry.

Keynote Capitals Research has recommended “Subscribe with a medium term view”. It states

The technology tie-up with Mauser gives TTL a competitive edge in the industrial packaging segment. It has a market share of about 70% in industrial packaging products. The Indian packaging industry has been growing @ 14-15% annually. This growth rate is expected to double in the next two years. Pricing of the IPO is at a small discount to the recent pre-IPO placements. The Company earlier this year did a placement of shares with Zephyr Peacock India fund at Rs 275 and India Business Excellence Fund managed by Motilal Oswal Venture Capital Advisors at Rs 325 a share

Source: Press release distribution via India PRwire