Annual report 2012-2013 - Aditya Birla Nuvo, Ltd

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MANAGEMENT’S DISCUSSION AND ANALYSIS THE CHAIRMAN’S LETTER TO SHAREHOLDERS Aditya Birla Nuvo Limited Our in-house learning university ‘Gyanodaya’ is a globally benchmarked institution. It leverages resources from around the world to meet the development needs of our leadership. Last year, it had 28,000 touch points and partnered with several external institutions and corporations for collaborative learning. More than a 1,000 executives take courses at Gyanodaya each year. The objective of this programme is to prepare our highperforming functional heads to take on P&L roles. The programme has taken off to a solid start. The first batch of participants has been already absorbed in the global immersion programme across 4 different countries. The second batch of “The Cutting Edge” will soon start their programme. To augment talent on the technical side, we have also been hiring, for the first time, a select set of manufacturing professionals directly at the Group level. The first group has already moved into our businesses. Our in-house learning university ‘Gyanodaya’ is a globally bench-marked institution. It leverages resources from around the world to meet the development needs of our leadership. Last year, it had 28,000 touch points and partnered with several external institutions and corporations for collaborative learning. More than a 1,000 executives take courses at Gyanodaya each year. Furthermore, we have institutionalised global career paths–driven both by the individual and the organisation’s needs. To a great extent, this allows an individual to ‘take charge of his own career’. We leverage vacancies across the Group and stimulate talent mobility by identifying and moving leaders across geographies and functions and into new roles as part of their career development. Development for us, today, means providing people opportunities to learn from their work rather than taking them away from their work to learn. Let me give you some statistics relating to fast tracking of talent. Since April 2011, from our management cadre, comprising of 37,600 colleagues, 15%, i.e. 5,824 have been promoted; 18% i.e. 6,481 have moved roles; and 12%, i.e. 4,543 have moved location. Additionally, we seek feedback in an institutionalised way and conduct conversations with our people across the viii Annual Report 2012-2013
Aditya Birla Nuvo Limited THE CHAIRMAN’S LETTER TO SHAREHOLDERS Group to gauge their engagement with our Group. We call it ‘Vibes’. The Vibes survey is carried out by a global reputed external HR research agency. This year, 94% of our 35,000 Executives participated in the Vibes survey, which is an indication of their engagement with the Group. It was very heartening for me to see that 92% of employees have an overwhelming sense of pride in our Group. More than 80% are engaged employees and, again, over 90% say that they understand the connect between their work and goals of business. Today, we are reckoned as an Employer of Choice that offers a World of Opportunities for talent. I take great pride in sharing with you that our Group (Aditya Birla Group) has topped Nielsen’s Corporate Image Monitor 2012-13. An extract from their media release would interest you – “Aditya Birla Group has emerged as the Number 1 corporate, the ‘Best in Class’ across all the six pillars of Corporate Image, according to the annual Corporate Image Monitor 2012-13, conducted by Nielsen, a leading global provider of insights and information into what consumers watch and buy. The six pillars of Corporate Image comprise of Product and Service Quality, Vision and Leadership, Workplace Management, Financial Performance, Operating Style and Social Responsibility. It was very heartening for me to see that 92% of employees have an overwhelming sense of pride in our Group. More than 80% are engaged employees and, again, over 90% say that they understand the connect between their work and goals of business. Today, we are reckoned as an Employer of Choice that offers a World of Opportunities for talent. I take great pride in sharing with you that our Group (Aditya Birla Group) has topped Nielsen’s Corporate Image Monitor 2012-13. Nielsen’s Corporate Image Monitor measures the reputation of the 40 leading companies in India across sectors and serves as an important indicator of the strength of the corporate brand”. The survey was conducted among policy makers, the financial media, financial analysts, investors, professionals from the corporate sector and the general public across 7 metros. The 40 corporates covered in this survey were selected using The Economic Times-500 and the Business Annual Report 2012-2013 ix
Page 1 and 2: ADITYA BIRLA NUVO LIMITED
Page 3 and 4: Aditya Birla Nuvo Limited THE CHAIR
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Page 24 and 25: BOARD OF DIRECTORS Aditya Birla Nuv
Page 26 and 27: CONTENTS Aditya Birla Nuvo Limited
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MANAGEMENT’S DISCUSSION AND ANALY
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DIRECTORS’ REPORT TO THE SHAREHOL
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DIRECTORS’ REPORT - ANNEXURE ‘A
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DIRECTORS' REPORT - ANNEXURE 'B' Ad
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DIRECTORS’ REPORT - ANNEXURE ‘C
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C CORPORATE GOVERNANCE REPORT Adity
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C SHAREHOLDERS’ INFORMATION Adity
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SOCIAL REPORT - TOWARDS INCLUSIVE G
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SOCIAL REPORT - TOWARDS INCLUSIVE G
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MANAGEMENT’S DISCUSSION ENVIRONME
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STANDALONE FINANCIAL STATEMENTS
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INDEPENDENT AUDITORS’ REPORT TO T
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INDEPENDENT AUDITORS’ REPORT TO T
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BALANCE SHEET AS AT 31ST MARCH, 201
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CASH FLOW STATEMENT FOR THE YEAR EN
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NOTES FORMING PART OF FINANCIAL STA
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INDEPENDENT AUDITORS’ REPORT ON T
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CONSOLIDATED BALANCE SHEET AS AT 31
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CONSOLIDATED CASH FLOW STATEMENT FO
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NOTES Aditya Birla Nuvo Limited 222
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NUVO ADITYA BIRLA NUVO & ITS SUBSID
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