BS Awards: Rate performances with a 360-degree perspective, says Sitharaman

Defence Minister Nirmala Sitharaman on Saturday presented the Business Standard Annual Awards in the presence of top India Inc leaders and bankers at Hotel Taj Mahal in Mumbai.

"The jury has done a fantastic job as they have searched performers from various corners of this large country. Other than recognising the size and performances of companies, the jury has looked at the purpose of these companies. Are you looking at performances with a 360-degree perspective rather than market capitalisation alone? I really appreciate Business Standard for this wonderful attempt to highlight some great companies and leaders," the Defence Minister said in her speech.

This year awards were given to outstanding organisations and individuals who took their respective fields of operations to newer heights while delivering on scale, sustainability, leadership, and innovation. They were chosen by three separate juries comprising some of the most respected names in India Inc. While the corporate excellence awards were chosen by a jury led by Maruti Suzuki Chairman R C Bhargava, the ‘Banker of the Year’ was selected by a jury led by C M Vasudev. The CSR awards were chosen by a jury headed by the Tata Institute of Social Sciences Chairman S Ramadorai.

The jury chose JSW Steel Chairman and Managing Director Sajjan Jindal as CEO of the Year. The steelmaker is turning out to be a beacon of entrepreneurship for the rest of India Inc at a time when the economy is going through a slowdown. Betting on the future of India’s steel industry, JSW Steel has emerged as the number one player with a capacity of 18 million tonnes per annum, overtaking the century-old Tata Steel. "I receive this award on behalf of my 50,000 employees. Our great nation needs great infrastructure and we are committed to provide that," Sajjad Jindal said.

One of India’s biggest success stories of foreign direct investment in the country, Maruti Suzuki India, won the Company of the Year award. The automaker has changed the way Indians commute, and its hard work has been recognised by the stock market; it has become the seventh-most valuable listed company in the country. "Tomorrow is the new year, I wish there will be sound development for India and the industry," Kenichi Ayukawa, MD and CEO, Maruti Suzuki, said.

The jury discussed several outstanding individuals who have left a deep and lasting impact on India’s corporate history, but quickly decided on HDFC group Chairman Deepak Parekh as the winner of the Lifetime Achievement award. Former State Bank of India chairman Arundhati Bhattacharya got the Banker of the Year award. "I am truly honoured by this award, I'd like to acknolwedge the 270,000 SBI workers and my family. When we look at the negatives we often forget the positives. We have the best ports and roads, core industries, none of them would have been possible if bankers didn't lend them," Arundhati Bhattacharya said.

Bharat Petroleum Corporation won the Star PSU of the Year award. "We are honoured and privileged to receive this award," D Rajkumar, CMD, BPCL. 3M India bagged the Star MNC of the Year award and Sheela Foam was declared the Star SME of the Year. 

"This is truly the Oscars of the business world. Thank you for recognising the impact we have made in India," said Debarati Sen, MD  3M India. "We are committed to tirelessly work towards making sure every Indian 'sleepwell'," Rahul Gautam, Chairman and Managing Director, Sheela Foam, said.

Education technology player Byju’s was chosen the Start-Up of the Year. "Exams should be more about learning, good teachers are hard to find. We have yet not even reached out to 5% of the school going population of India, there is a long way to go. 75 % of our students come from non metros, next year it will go up to 85%," Byju Raveendran said.

The Social Entrepreneur of the Year award was won by Mathew Spacie, Founder, of Magic Bus, an organisation he set up two decades ago with a small fund, largely put together with his own contribution and that of his friends. Today, Magic Bus affects 400,000 children in 69 districts across 21 states in India. "Nearly 90% of our money comes from corporate India. We see this immense turning point where India and Indians want more accountability. You cannot leave a child's hand, you need to deliver financial sustainability," Mathew Spacie said.

 

Mahindra & Mahindra was chosen as the Socially Aware Corporate of the Year. The company has built a strong foundation in the social sector in diverse fields such as education, road safety, farmer livelihoods, eradication of hunger, and many others. "There has been a major change in the perspective of business people globally. I am hoping the best performing businesses will be socially aware businesses," Chairman Anand Mahindra said after getting the award.

The Social Enterprise of the Year award was won by Pradan, both for its reach in terms of programmes underway and its wide and deep network of non-governmental organisations and social entrepreneurs that it has built. "I receive this award on behalf of thousands of women we work with and the volunteers of Pradan," Narendranath Damodaran of Pradan said.

List of Awards & Winners:

CEO Of The Year: Sajjan Jindal, CMD, JSW Steel

Company Of The Year: Maruti Suzuki India

Lifetime Achievement Award: Deepak Parekh, Chairman, HDFC

Banker Of the Year: Arundhati Bhattacharya

Star PSU Of The Year: Bharat Petroleum Corporation

Star MNC Of The Year: 3M India

Star SME Of The Year: Sheela Foam

Start-up Of The Year: Byju’s

Social Entrepreneur Of The year: Mathew Spacie, Founder, Magic Bus

Socially Aware Corporate Of The Year: Mahindra & Mahindra

Social Enterprise (NGO) Of The Year: Pradan