In the fast changing business scenario, good Corporate Governance
helps in achieving long term Corporate Goals of enhancing
Stakeholders’ value. Corporate Governance focuses on commitment
to values adhering to ethical business practices. This includes
corporate structures, culture, policies and the manner in which the
Corporate entity deals with various stakeholders, with transparency
being the key word. Accordingly, timely, adequate and accurate
disclosure of information on the performance and ownership forms
the cornerstone of Corporate Governance.
1. COMPANY’S PHILOSOPHY ON CODE OF GOVERNANCE
Any Corporate strategy needs to be dynamic, vibrant, responsive
to the changing economic scenario and flexible enough to absorb
environmental and fiscal fluctuations. It must harness the inherent
strengths of available human resources and materials, have the
capacity to learn from success or failure and, more importantly,
ensure growth with human face. This has always been the guiding
philosophy in the Company and will continue to be so in future.
The historic structural reforms initiated by the Government in early
90s have irrevocably transformed the Indian business environment
landscape. Deregulation and decontrol, dismantling of trade barriers,
partial convertibility and encouragement of foreign investment pose
challenges to industry but simultaneously have opened up new
avenues for growth.
The current scenario is both vibrant and optimistic. Response, or
lack of it, can make or mar a company. The Company has accepted
the challenges. Its strengths viz. involvement in the construction of
river valley projects, engagement in the business of cement – an
essential input for infrastructure sector which is on sharp focus today,
its large equity base and its wealth of dedicated human resources
are channellised to great advantage in entering new ventures in the
core sector, thus paving the way for sustained growth... [continues]
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