Hyundai Motor India Limited (HMIL), a wholly owned subsidiary of Hyundai Motor Company, is planning to launch its 800cc small car by 2011-12.
Heung Soo Lheem, Managing Director of HMIL, said "We are planning to introduce 800 cc small sized car within 2011-12 but not to fight the Nano since we do not have the capability to manufacture Rs1 lakh cars. By the time this car will be launched in the Indian market, demand for small cars will be about two million units."
Research and development (R&D) work for the new car has already started at R&D centres in Hyderabad and Namyam (Korea).
Unlike Maruti 800 sold in the domestic market, the HMIL car would cater to domestic and export markets, added Lheem.
HMIL currently had capacity of manufacturing 20,000 units per month and 600,000 units per year at its two manufacturing units.
Of its total sales, 55 per cent was from the domestic market and 42 per cent from exports last year.
HMIL promised a preview of its i20 car, with code name PB, in the hatchback syle, at the Auto Tariff Show on October 2, in Paris.
In the eastern region, HMIL reported market share of 17 per cent last year with its i10 range now outselling the Santro.
HMIL under its Corporate Social Responsibility (CSR) programme, would be backing the Student Traffic Volunteer Scheme (STVS) of the traffic arm of Kolkata Police.
The scheme would develop road safety awareness and help in traffic management.
The Student Traffic Volunteer Scheme was first introduced in Delhi in 2006 followed by Chennai.
Lheem said, "The Student Traffic Volunteer Scheme which started in New Delhi in 2006 has been very successful scheme, so much so, that we have inducted 100 more volunteers in the scheme this year. We feel priviledged to be partnering Kolkata Police in introducing the scheme."
Under the STVS scheme, student representatives will assist the traffic police in controlling traffic at intersections like Jawaharlal Nehru road, Raja bazaar, Shyam Bazaar, Park Circus, besides organising parking of vehicles in commercial areas and educating pedestrians about traffic rules.
HMIL would support this initiative financially by giving out stipends to all 80 student volunteers selected out of 350 candidates.
Hyundai sponsored insurance cover for students against accident or injury.
Monday, September 1, 2008
Crorepati CEO club gets 219 new members
As a result, the crorepati club (those earning more than Rs 1 crore annually) saw 219 new entrants, taking the total membership to 596.
The list of crorepati CEOs could be much longer — some HR consultants say it would more than double to between 1,200 and 1,400 people — if one includes senior executives from unlisted companies, including the big international firms, management consultancies and foreign banks, investment bankers, unlisted retail billionaires and sundry others.
Consultants estimate that top salaries in sectors like retail and management consulting would be between Rs 5 crore and Rs 7 crore.
Tech Mahindra had the highest number (10) of senior executives drawing a Rs 1 crore-plus salary. Larsen & Toubro and Tata Motors had eight each; Nagarjuna Constructions seven and Aditya Birla Nuvo, Bharat Forge and Indian Hotels six each.
Thirty of the new members in the crorepati club were from newly-listed companies and 53 entered the bracket by switching jobs. The compensation package of 88 CEOs more than doubled over the previous year, although the number of those drawing Rs 10 crore-plus salaries was unchanged at 18.
Collectively, these executives from 298 companies took home Rs 1,524 crore from salaries, commissions and perquisites (excluding stock options and deferred pay).
The aggregate net profit of these 298 companies increased by the same level of 34.5 per cent at Rs 1,21,454 crore (Rs 90,327 crore) in FY08, but employee cost jumped 26 per cent to Rs 76,124 crore (Rs 60,257 crore). The share of director remuneration to net profit has been almost constant in the last four years at 1.09 per cent.
For the second year in a row, Reliance ADAG Group Chairman Anil Ambani has toppled his elder brother, Reliance Industries Chairman Mukesh Ambani as the highest-paid Indian CEO.
KAUN BANA CROREPATI
(CEO remuneration in Rs crore)
Name Flagship company 2007 2008
Anil Ambani * Reliance Comm 32.34 48.01
Mukesh Ambani Reliance Ind 30.46 44.02
Kalanithi Maran Sun TV Network 23.26 32.41
Kavery Kalanithi Sun TV Network 23.26 32.41
P R R Rajha Madras Cement 24.78 32.39
Kumar Mangalam Birla Grasim Ind 17.53 20.14
Malvinder Mohan Singh Ranbaxy Lab 6.57 19.58
Sunil Bharti Mittal Bharti Airtel 14.96 19.55
Sajjan Jindal JSW Steel 13.25 16.73
Onkar S Kanwar Apollo Tyres 9.98 15.54
*Includes Rs 34.65-crore proposed commission for FY08 by Reliance Comm
While Mukesh took home a total compensation of Rs 44.02 crore (Rs 30.46 crore in the previous year), Anil is set to get Rs 47.98 crore (Rs 32.34 crore).
The catch is the younger Ambani has so far received Rs 13.2 crore as commissions (his salary was a mere Rs 11 lakh) even though five months have gone by since the end of the last financial year.
That is because the Reliance Communications (RCom) remunerations committee and the board are yet to approve disbursal of the Rs 35-crore commission.
But that’s a mere formality, and going by the proportion last year, Anil Ambani’s share in the total commission to be paid by RCom will be Rs 34.65 crore.
The company disbursed the commission for 2006-7 only in the next financial year, and Anil’s share in the total commission of Rs 30.33 lakh was Rs 30 lakh. On his part, Mukesh received a commission of Rs 42.75 crore and a salary of Rs 1.27 crore.
While Mukesh Ambani’s commission was 0.21 per cent of the combined net profit of his group companies, the amount Anil Ambani received was almost one per cent of his group’s net profit of Rs 4,905 crore in FY08.
The list of crorepati CEOs could be much longer — some HR consultants say it would more than double to between 1,200 and 1,400 people — if one includes senior executives from unlisted companies, including the big international firms, management consultancies and foreign banks, investment bankers, unlisted retail billionaires and sundry others.
Consultants estimate that top salaries in sectors like retail and management consulting would be between Rs 5 crore and Rs 7 crore.
Tech Mahindra had the highest number (10) of senior executives drawing a Rs 1 crore-plus salary. Larsen & Toubro and Tata Motors had eight each; Nagarjuna Constructions seven and Aditya Birla Nuvo, Bharat Forge and Indian Hotels six each.
Thirty of the new members in the crorepati club were from newly-listed companies and 53 entered the bracket by switching jobs. The compensation package of 88 CEOs more than doubled over the previous year, although the number of those drawing Rs 10 crore-plus salaries was unchanged at 18.
Collectively, these executives from 298 companies took home Rs 1,524 crore from salaries, commissions and perquisites (excluding stock options and deferred pay).
The aggregate net profit of these 298 companies increased by the same level of 34.5 per cent at Rs 1,21,454 crore (Rs 90,327 crore) in FY08, but employee cost jumped 26 per cent to Rs 76,124 crore (Rs 60,257 crore). The share of director remuneration to net profit has been almost constant in the last four years at 1.09 per cent.
For the second year in a row, Reliance ADAG Group Chairman Anil Ambani has toppled his elder brother, Reliance Industries Chairman Mukesh Ambani as the highest-paid Indian CEO.
KAUN BANA CROREPATI
(CEO remuneration in Rs crore)
Name Flagship company 2007 2008
Anil Ambani * Reliance Comm 32.34 48.01
Mukesh Ambani Reliance Ind 30.46 44.02
Kalanithi Maran Sun TV Network 23.26 32.41
Kavery Kalanithi Sun TV Network 23.26 32.41
P R R Rajha Madras Cement 24.78 32.39
Kumar Mangalam Birla Grasim Ind 17.53 20.14
Malvinder Mohan Singh Ranbaxy Lab 6.57 19.58
Sunil Bharti Mittal Bharti Airtel 14.96 19.55
Sajjan Jindal JSW Steel 13.25 16.73
Onkar S Kanwar Apollo Tyres 9.98 15.54
*Includes Rs 34.65-crore proposed commission for FY08 by Reliance Comm
While Mukesh took home a total compensation of Rs 44.02 crore (Rs 30.46 crore in the previous year), Anil is set to get Rs 47.98 crore (Rs 32.34 crore).
The catch is the younger Ambani has so far received Rs 13.2 crore as commissions (his salary was a mere Rs 11 lakh) even though five months have gone by since the end of the last financial year.
That is because the Reliance Communications (RCom) remunerations committee and the board are yet to approve disbursal of the Rs 35-crore commission.
But that’s a mere formality, and going by the proportion last year, Anil Ambani’s share in the total commission to be paid by RCom will be Rs 34.65 crore.
The company disbursed the commission for 2006-7 only in the next financial year, and Anil’s share in the total commission of Rs 30.33 lakh was Rs 30 lakh. On his part, Mukesh received a commission of Rs 42.75 crore and a salary of Rs 1.27 crore.
While Mukesh Ambani’s commission was 0.21 per cent of the combined net profit of his group companies, the amount Anil Ambani received was almost one per cent of his group’s net profit of Rs 4,905 crore in FY08.
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