MUMBAI, July 20, 2017 /PRNewswire/ -- Vedanta Limited has been recognized as an 'Honored Company' for its Investor Relations program by Institutional Investor magazine in its 2017 All-Asia (ex-Japan) Executive Team rankings. This accolade is awarded only to 4.7% of the total 2,510 companies covered. Vedanta also ranks among the top 3 companies in the Basic Materials sector.
"We are indeed humbled by this recognition from our global investors and analysts. Our teams deserve the credit of Vedanta's leading rank, a testimony of our world-class management and transparent disclosures. We remain committed to strive for excellence, and create even higher benchmarks in the global natural resources sector," said Mr. Tom Albanese, CEO, Vedanta.
The company has been recognized for the 'Best Investor Relations' (nominated by the sell-side), in the Basic Materials industry. Mr. Tom Albanese, CEO, Vedanta Limited, has been ranked as the 'Best CEO' (nominated by the sell-side), while Mr. Ashwin Bajaj, Director-Investor Relations, Vedanta Limited, won the second place in the 'Best Investor Relations Professional' category (nominated by the sell-side) in the industry in Asia (ex-Japan).
Vedanta has a market capitalisation of about US$15 billion and is a part of India's premier index, the Nifty 50. Vedanta is also among the top contributors to the country's exchequer at nearly Rs. 40,000 crores in FY 2017.
The company declared record dividends of Rs. 7,100 crores last year, amounting to about Rs. 19.50 per share. Its subsidiary Hindustan Zinc too announced record dividends of Rs. 27,157 crore during the period.
About Institutional Investor Awards:
Institutional Investor is a leading business to business publisher, focused primarily on international finance. For over 30 years, Institutional Investor has recognized people and firms in the financial services industry for excellence.
'Honored Companies' earned at least one overall top 3 combined Buy-side and Sell-side for Best CEO, Best, CFO, Best Investment Relations Professional, or Best IR Program.
Voters rank the top-four companies that they believe demonstrate excellence in each of the IR characteristics or performance attributes. Their votes are then weighted by the rank they have assigned each company and aggregated to produce buy-side, sell-side and combined buy- and sell-side rankings for each sector.
The Award process has voters rank IR programs, evaluating them on attributes of accessibility of senior executives, constructive conference calls/meetings, quality corporate documents and investor kits, timely and appropriate financial disclosure and quick and thorough responses to requests.
In 2017, global Buy-side participation in the survey tripled to 3,074 compared to 1,007 in 2016, while Sell-side participation rose sharply to 868, up from 611 in 2016. This resulted in deep and detailed data to support the results, and a record number of companies nominated: 2,510 companies across 18 sectors, compared to 1,541 companies last year.
Respondents from the buy side are associated with institutions that collectively manage US$1.5 trillion in Asia equities excluding Japan.
For further information, please contact:
Manager, Group Communications
Director – Investor Relations
VP – Investor Relations
Manager – Investor Relations
Associate Manager – Investor Relations
About Vedanta Limited
Vedanta Limited is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power. The company has a presence across India, South Africa, Namibia, Australia and Ireland.
Vedanta Limited is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Governance and Sustainable Development are at the core of Vedanta's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. The company is conferred with the Confederation of Indian Industry (CII) 'Sustainable Plus Platinum label', ranking among the top 10 most sustainable companies in India. To access the Vedanta Sustainable Development Report 2016, please visit http://sustainabledevelopment.vedantaresources.com/content/dam/vedanta/corporate/documents/Otherdocuments/SDreport2015-16/Vedanta%20SDR%20FY%2015-16.pdf
Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.
For more information please visit www.vedantalimited.com
Vedanta, 75, Nehru Road,
Vile Parle (East), Mumbai - 400 099
Regd. Office: 1st Floor, 'C' wing, Unit 103,
Corporate Avenue, Atul Projects,
Chakala, Andheri (East),
Mumbai – 400 093
This press release contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
SOURCE Vedanta Limited