But its financial leverage has risen since 2016-17 fiscal. Mr Agnivesh Agarwal is the son of … As per the government's notification, the States/UTs are being asked to take up surveillance and monitoring of birds, for any signs of ... Is permanent work from home possible in India? A potential acquisition of BPCL will give Agarwal’s conglomerate a cash-rich refinery business with a retail network and a 22% share in the market. Missing BloombergQuint's WhatsApp service? Stocks in the news: HDFC, Larsen & Toubro, JSPL, Sun Pharma and SBI, Supreme Court finds no infirmity in clearances granted to build new Parliament, When Deep Kalra almost sold MakeMyTrip for $10 million, FMCG & pharma stocks can outperform banks for the next 3 years, UK PM Boris Johnson cancels India visit, citing need to oversee virus response, Covid-19 is the X factor in legal battle between wealthy exes. According to JPMorgan, a special purpose vehicle with additional partners would allow spreading the risk. Watch now | India's premier event for web professionals, goes online! The promoter group holds 64.92% in HZL, and thus will get a lion’s share of the dividend amounting to Rs 17,630 crore for the FY17. There are 30+ professionals named "Kanishk Agarwal", who use LinkedIn to exchange information, ideas, and opportunities. A successful takeover of Vedanta would have enhanced the access to Vedanta’s cash flow, improving bond yields and refinancing options, it said. He made Navin Agarwal, his brother, chairman of Cairn India which is promoted by Vedanta Resources. Agnivesh Agarwal 41,154 0.01 Pravin Agarwal 25,000 0.01 Pratik Agarwal 5,000 0.00 Annanya Agarwal 17,640 0.01 Naivedya Agarwal 17,006 0.01 Ruchira Agarwal 17,014 0.01 . Kalpathi Investments is a Chennai-based venture capital firm which picked up a stake in Primex Scans in August 2010. He shaped the Group’s strategic vision and now plays the role of chief mentor to a … Vedanta ends up selling more than 75% of it to private companies including Reliance Industries Ltd. and Nayara Energy at a discount. View Navin Agarwal’s professional profile on LinkedIn. To be sure, Vedanta has cash of around Rs 35,560 crore on a consolidated basis as of September. Agnivesh, referred to as Swami Agnivesh (born Vepa Shyam Rao; 21 September 1939 – 11 September 2020), was an Indian social activist and the founder of Arya Sabha, a political party based on the principles of Arya Samaj. According to the company's website, Agarwal was appointed on the board with effect from … He set up Sterlite Industries to manufacture jelly-filled cables in 1986. That forced the company to lower its targets from 270,000-300,000 units a day in FY19 to 225,000 in FY20 and 190-195 in FY21. He has been instrumental in the growth of the group through global organic projects as well as acquisitions. Cairn India contributes 28% to operating profit. Mr Agarwal plays a key role in the strategic and governance framework of the Vedanta Group and provides leadership for its long-term planning, business development and capital planning. Navin Agarwal is Executive Director, Deputy Chairman at Vedanta Resources Ltd. View Navin Agarwal’s professional profile on Relationship Science, the database of decision makers. Vedanta is said to be following that model for a potential acquisition. Hindustan Zinc Limited (HZL) posted a 38% jump in net profit to Rs 2,379 crore in the third quarter ended December 31, 2014 against Rs 1,723 crore in the same period last year. His daughter Priya, 28, is a non-executive director at Vedanta. Yet, billionaire Anil Agarwal needs the oil refiner more than ever.The output from its oilfield in Barmer, Rajasthan has been falling. His wife, then Kiran Gupta, was an old family friend and a fellow cyclist. "Agnivesh Agarwal has informed that he is stepping down as chairman and director of Hindustan Zinc Ltd to pursue other interests," the company said in an exchange filing. Mining mogul Anil Agarwal says the group is "too big to have a family succession plan". Agnivesh Agarwal joined Talwandi Sabo Power Limited (TSPL) as Director and Chairperson of the Company effective from 27th April, 2019. Vedanta Group firm Hindustan Zinc Ltd (HZL) Friday said Agnivesh Agarwal has stepped down as chairman of the company. Agarwal has earlier acquired and turned around three state-run units — Hindustan Zinc Ltd., Sesa Goa Ltd. and Bharat Aluminium Co. Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. Total income declined marginally by 1.8 per cent to Rs 6,090 crore. This is excluding BPCL’s 61% holding in the Numaligarh refinery. Bloomberg reported that Agarwal is planning to invest $10 billion by teaming up with London-based Centricus Asset Management Ltd. to seek investments in Indian companies, offering substantial growth opportunities. The Vedanta boss' daughter met the business tycoon at an industry event. View the profiles of professionals named "Kanishk Agarwal" on LinkedIn. "The y-o-y decrease for Q2 2016-17 was due to higher depreciation and lower investment income on account of smaller corpus despite higher mark to market gains.". We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences. The output from its … Sequential top line and bottom line growth stood at 38 per cent and 83 per cent, respectively, on higher volumes and metal prices. Mr. Anil Agarwal is the Founder and Chairman of Vedanta Resources Limited, a globally diversified natural resources company which extracts and processes minerals and Oil & Gas. Commenting on the performance, Hindustan Zinc Chairman Agnivesh Agarwal said: "In our golden jubilee year we have delivered the best ever performance.". Anil Agarwal – the independent very rich person, with individual total assets of $2 Billion is the glad Founder and Chairman of Vedanta Resources. View Sanjay Agarwal’s profile on LinkedIn, the world’s largest professional community. Zambia’s plan to sell the copper mines it seized last year from billionaire Anil Agarwal’s Vedanta Resources Ltd. is bogged down in legal challenges that are discouraging buyers. Let's reshape it today, Hunt for the brightest engineers in India. Agnivesh Agarwal is registered with the Ministry of Corporate Affairs with a DIN (Director Identification Number) of 00038950, and is currently associated with 6 companies. Also, an acquirer would have to make an open offer for the 26% stake from the public, costing additional Rs 21,700 crore. To access international capital markets, Anil Agarwal and his team incorporated Vedanta Resources Plc in 2003 in London. Agnivesh Agarwal is chairman of Hindustan Zinc, which at 39% contributes most to Vedanta Ltd's operating profit. Share Via. Vedanta Ltd. joined the race for acquiring state-owned Bharat Petroleum Corp. three months after its failed delisting and when analysts have flagged risks about its leverage. It, he said, can be a leveraged buyout and a potential candidate for asset sweating — the process of increasing profits generated from a company’s assets. The average oil output from Barmer peaked in 2014 at 218,651 barrels of oil equivalent a day. Based in Dubai, Agnivesh Agarwal runs his own business recovering metal from scrap. See the complete profile on LinkedIn and discover Sanjay’s connections and jobs at similar companies. Her love for reading inspired her to write a series of books catering to Indian ethos. His daughter Priya, 28, is a non-executive director at Vedanta. For reprint rights: Axis Bank is conservative but keen on growth: CEO, WHO expert visit to China under negotiation, India now has 73 Covid cases with the UK strain, D-Mart’s Radhakishan Damani set to acquire 8-acre Thane plot from Mondelez, Invesco India Largecap Fund Direct-Growth, Serum, Bharat Biotech jointly pledge for smooth vaccine roll out. in 2011 for more than $8.5 billion. See the complete profile on LinkedIn and discover Pravin’s connections and jobs at similar companies. Anil Agarwal founded Hamsher Sterling Corporation, a business operating in the Industrial sector and a manufacturer of enameled copper, among other products, with a bank loan In 1976. Vedanta Ltd on Friday announced the appointment of Agnivesh Agarwal as the Chairman of its wholly-owned arm TSPL.“TSPL (Talwandi Sabo Power Ltd) a wholly-owned subsidiary of Vedanta … His brothers Navin and Pravin, closely associated with Vedanta, also have two children each. (Psychology) with Business Management from the University of Warwick in the UK. Vedanta Group firm Hindustan Zinc Ltd (HZL) Friday said Agnivesh Agarwal has stepped down as chairman of the company. Talwandi Sabo Power Limited or TSPL, a wholly owned subsidiary of Vedanta Limited, has appointed Agnivesh Agarwal as the chairman of the board of directors. Kolkata: Kiran Agarwal has been appointed as Additional Director and Chairman of Hindustan Zinc Limited, with effect from March 2, 2019.Her appointment follows the resignation of Agnivesh Agarwal who recently stepped down from the post of chairman and director of HZL to pursue other interests. Agarwal bought Cairn India from Cairn Plc. Younger sister Priya Agarwal has been on the Cairn India board as non-executive director since 2012. The company which has adopted Indian Accounting Standards (Ind-AS) for reporting earnings, said its revenue declined 10 per cent YoY to Rs 3,820 crore. A global diversified natural resources group operating primarily in India, Africa, Australia and UAE. Join financial experts to secure your golden years with early planning. As a trustee on Vedanta Foundation, a philanthropic arm of Vedanta Limited, she pursues her passion for social causes, concerns related to children and women especially close to her heart. top Anil Agarwal, billionaire and chairman of Vedanta Resources Plc in London, U.K. (Photographer: Simon Dawson/Bloomberg). Chairman, Vedanta Ltd, India’s leading diversified natural resources company with assets across Oil & Gas, Zinc-Lead-Silver, Copper, Iron Ore & Steel, Aluminium & Power. Agnivesh Agarwal is chairman of Hindustan Zinc, which at 39% contributes most to Vedanta Ltd’s … The balance sheet and uncertainty among minority shareholders around dividend may put downward pressure on the company, Citi said in its second-quarter earnings review. Agarwal’s son, Agnivesh, 41, is the non-executive chairman of Hindustan Zinc and also manages Fujairah Gold in Dubai. Bloomberg | Quint is a multiplatform, Indian business and financial news company. Join our. Vedanta Resources Limited | 164,499 followers on LinkedIn. Agarwal’s son, Agnivesh, 41, is the non-executive chairman of Hindustan Zinc and also manages Fujairah Gold in Dubai. Then he founded Vedanta Resources and developed. Navin Agarwal has been associated with the Group since its inception and has over 35 years of strategic executive experience. Sanjay has 4 jobs listed on their profile. Vedanta Ltd. joined the race for acquiring state-owned Bharat Petroleum Corp. three months after its failed delisting and when analysts have flagged risks about its leverage. Agnivesh Agarwal, son of Vedanta Group chief Anil Agarwal, has acquired 60 per cent stake in Chennai-based Primex Healthcare and Research Pvt … Yet, the acquisition would require cash when Vedanta’s own financial leverage has been rising. Vedanta Group firm Hindustan Zinc Ltd (HZL) today reported a 19 per cent growth in its net profit at Rs 1,921 crore for the first quarter. The firm, in which billionaire Anil Agarwal-led Vedanta has a majority stake, added that closure of zinc mines across the world has led to a stronger price outlook for the metal in the medium term. Read Full Story. Metals and mining magnate Anil Agarwal turned a tiny scrap metal business into London-headquartered Vedanta Resources. Axis Bank, Tata Steel, NMDC among 65 stocks look set to rally, suggests MACD, Adani Wilmar halts all Fortune ads featuring Sourav Ganguly, Committed to protect interest of NPS subscribers: Government, Six reasons why SC upheld the clearance to Central Vista project in New Delhi. According to Rakesh Arora, a commodities sector veteran, the main rationale behind Vedanta’s BPCL bidding could be attractive valuations and high dividend yield. Hindustan Zinc Q1 net rises to Rs 1,918 crore 23 Jul, 2018, 09.07 PM IST Anil has 5 jobs listed on their profile. The company also posted a 10 per cent decline in revenue from operations to Rs 4,777 crore. At Dec. 28 closing price, the government’s 52.98% in BPCL is worth more than Rs 44,400 crore. Agarwal’s wife . Yet, billionaire Anil Agarwal needs the oil refiner more than ever. Vedanta Ltd. joined the race for acquiring state-owned Bharat Petroleum Corp. three months after its failed delisting and when analysts have flagged risks about its leverage. JPMorgan in a report said BPCL dividends could easily cover the cost of debt of any acquisition. It also produces a waxy crude that state-run refiners refuse to take despite the mandate to buy as part of the oil exploration contract. Agarwal, with a stint at London School of Journalism, is an avid reader, prolific writer and a woman of many facets. The output from its oilfield in Barmer, Rajasthan has been falling. Not many know that he, in reality, controls Vedanta by implication through Volcan Investments, which is a holding organization and has a 61.7% stake in the business. View Anil Agarwal’s profile on LinkedIn, the world’s largest professional community. Moody’s Investors Service in a note said Vedanta Resources’ failed takeover of Vedanta heightens refinancing risk and is credit negative. NEWSLETTER. That was the story in the pre-liberalisation eighties an See the complete profile on LinkedIn and … Vedanta Group and Shree Cements: Anil Agarwal's son Agnivesh is married to Puja Bangur, the daughter of Hari Mohan Bangur, who is the managing director of Shree Cement. Agarwal has joined TSPL as the director and chairperson of the company from April 27. Vedanta Anil Agarwal-promoted Vedanta has appointed Agnivesh Agarwal as the new chairman for its power subsidiary Talwandi Sabo Power (TSPL), the group said in a statement on Friday. TSPL operates 1,980 MW—three units of 660 MW each—thermal coal-based power plant at Talwandi, Punjab. Agnivesh also holds the position of Chairman and Managing Director at Fujairah Gold FZC, a part of Vedanta Resources Limited, which operates a precious metal refinery and a continuous cast copper rod plant, strategically located at Fujairah Free Zone II, UAE. The output, however, has since declined despite $1-billion investment. Vedanta Group firm Hindustan Zinc Ltd. said Agnivesh Agarwal has stepped down as chairman of the company. Subscribe to our Newsletter right now to be updated. HZL has posted a 7 per cent rise in net to Rs 1,640 crore in the second quarter (Q2) ended September 30, 2013. Agnivesh Agarwal joined Talwandi Sabo Power Limited (TSPL) as Director and Chairperson of the Company effective from 27th April, 2019. With BPCL being one of its targets, Vedanta group has been planning a fund with a 10-year lifespan that will use a private equity-type strategy, buying into companies and boosting their profitability before seeking an exit, the report said. Agarwal’s brother. That can help boost the flagging oil and gas unit. LinkedIn is the world's largest business network, helping professionals like Navin Agarwal discover inside connections to recommended job candidates, industry experts, and business partners. As noted above, these Vedanta Shares shown in the table above have been assented ... Vedanta Shares that are unconditionally allotted or issued before the Offer becomes or is Vedanta chairman Anil Agarwal's daughter Priya Agarwal completed B.Sc. Yet, billionaire Anil Agarwal needs the oil refiner more than ever. They both got married at a very young age- he was 21 and she was 16. India Business News: Successful businessmen like their children to marry children of other successful businessmen. "Agnivesh Agarwal has informed that he is stepping down as chairman and director of Hindustan Zinc Ltd to pursue other interests," the company said in a filing to the BSE. Though Vedanta has no experience in running refining and fuel marketing but has been able to create significant value from state-owned companies, it said. His childhood passion for cycling led him to marital bliss. Pravin has 2 jobs listed on their profile. The group later consolidated all companies, excluding Hindustan Zinc, under Vedanta. Tomorrow is different. 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