Dena Bank Results

PROFIT GROWTH

 
1. Net Profit recorded a quantum rise of 17.47 %, up from Rs. 359.79 Crs for the year ended Mar 08 to Rs. 422.66 Crs for the year ;  
2. Net Profit for the Qtr ended March 09 was at Rs. 111.17 Crs as against Rs.110.99 Crs for the corresponding quarter in the previous year;
3. Operating Profit for the year improved by 5.82 % up from Rs. 686.44 Crs for the FY 2007-08 to Rs726.36 Crs; 
4. Operating Profit for the Qtr ended Mar 09 at Rs. 187.77 Crs as against Rs. 218.93 Crs for the corresponding quarter in the previous year;
5. Operating profit excluding profit from sale of Securities had shown an increase from Rs. 596.42 Crs for the FY 2007-08 to Rs. 672.04 Crs for the year.
 CAPITAL ADEQUACY RATIO 
 
1. Capital Adequacy Ratio stood at 10.73% as against 11.09% recorded in the previous year ended on Mar 08;
2. The Tier I Capital showed a marked improvement of 15.92 % up from Rs. 1535.55 Crs as on Mar 08 to 1780.97 Crs as at the end of the year;  
3. Tier I CRAR stood at 6.01 % as at the end of the year as against 6.75 % as on March 08;
4. CRAR as per Basel – II stood at 12.07.
 BUSINESS GROWTH
 
1. Business Mix improved by 26.01% to Rs. 72235.97 cr as at the end of the year, from Rs. 57324.34 cr achieved as on March 08;
2. Total Deposits increased by 26.83% to Rs. 43050.61 crore as at the end of the year as against Rs. 33943.18 cr as on March 08 ; 
3. Low-cost deposits constituted 35.97% of the Total Deposits.
4. Gross Advances recorded a growth of 24.82% during the year as compared to a growth of 25.15% posted during the previous year and stood at Rs. 29185.36 crs as against Rs. 23381.16 cr as on March 08; Average advances recorded a growth of 17.53% as compared to 20.20% posted during the previous year ended on March 08; 
5. The Credit Deposit Ratio for the year stood at 67.82%; Incremental CD Ratio was at 63.73 %, though lower than 75.13 %, recorded during the previous year ended on March 08;
6. SME Credit increased from Rs. 3885 Crs as on March,08 to Rs.4775 Crs at the end of quarter under review, representing a growth of 22.91%. SME Credit constituted 16.36% of Gross Credit.
ASSET QUALITY
 
1. Gross NPA increased by 8.41% to Rs. 620.77 crs as at the end of the year, as compared to Rs. 572.60 Crs as on March 08; The Gross NPA Ratio declined by 32 bps from 2.45 % as on March 08 to 2.13 % as at the end of the year;
2. Net NPA increased by 45.46% to Rs. 313.37 as at the end of the year as compared to Rs. 215.43 Crs as on March 08; The Net NPA Ratio increased by 15 bps from 1.09 % as of March 08 to 1.09% as at the end of the year;
3. Cash Recoveries including other credits stood at Rs. 188.72 Crs as compared to Rs. 184.86 Crs achieved during previous year;
4. Percentage of Cash Recovery to Opening NPA was 32.96 % during the year as compared to 24.83% during the previous year;
5. Upgradations improved from Rs. 114.07 Crs posted during the previous year to Rs. 191.38 Crs achieved during the year;
6. The cash recovery & upgradation put together improved to 380.10 crs which amounts to 66.38% of the opening NPA as against previous year’s 40.15%;
7. 949 Recovery Camps were organised which was attended 9692 borrowers resulting in settlement of 1538 accounts;
8. Action innitiated in 1782 accounts involving a sum of 222.68 crs under SARFAESI Act;  
 
EARNINGS ANALYSIS
 
 
1. Interest Income posted a higher growth of 28.84% during the year as compared to 28.17% posted during the previous year; Interest income stood at Rs. 3447.50 Crs for the year as compared to Rs. 2675.90 Crs during the previous year; Interest income for the quarter ended March 09 also posted a higher growth of 22.67 % at Rs. 895.79 Crs as compared to Rs. 730.24 Crs for the corresponding quarter during the previous year;
2. Interest Income on advances increased by 31.36% to Rs.2565.98 cr during the year as compared to Rs. 1953.37 cr for the previous year; The growth in the income was marginally lower as compared to 40.35 % posted during the previous year; Interest income on advances increased by 22.56 % for the Qtr ended Mar 09 as compared to the corresponding quarter in the previous year;
3. Non-Interest Income declained by 10.04% at Rs. 430.12Crs as compared to Rs. 478.12 Crs posted during the previous year. The non-interest income for the quarter ended Mar 09 also declained by 8.31% at Rs. 140.04 Crs as compared to Rs. 152.74 Crs during the corresponding quarter in the previous year; 
4. Interest Expenses rose by 31.14% at Rs. 2383.07 Crs as compared to Rs. 1817.14 Crs incurred during the previous year; The interest expenses for the quarter ended March 09 also increased by 31.11% as compared to the corresponding quarter in the previous year;
5. Interest expenditure on deposits increased by 31.30% to Rs.2255.90 cr during the year as compared to Rs. 1718.11 cr. for the previous year; The increase in the expenditure for the quarter ended March 09 was 32.42% over March 08 and stood at Rs624.14 cr. as compared to Rs. 471.35 Crs during the Qtr ended Mar 08;
6. Operating Expenses increased by 18.10 % during the year and were at Rs. 768.19 Crs as compared to Rs. 650.44 Crs for the previous year ended on March 08; The increase in Operating Expenditure for the quarter ended March 09 was 17.28% over March 08 and stood at Rs191.23 cr. as compared to Rs. 163.06 Crs during the Qtr ended Mar 08;
RATIO ANALYSIS
 
1. Cost of Deposits was up by 46 bps and stood at 6.36 % for the year as compared to 5.90% for the previous year; Cost of Deposits for the Qtr ended Mar 09 was higher by 48 bps at 6.56 % as compared to 6.08% for corresponding quarter in the previous year;
2. Yield on Advances (YoA) increased by 60 bps to 10.71% for the year up from 10.11% posted during the previous year; YoA was higher by 43 bps at 10.51% for the Qtr ended Mar 09 as compared to 10.08 % for the corresponding quarter in the previous year; 
3. Yield on Investments excluding profit on sale of securities for the year increased by 16 bps to 7.04% as compared to 6.88% during the previous year; For the quarter-ended Mar 09, it got dropped by 35 bps to 6.91% as compared to 7.26% for the corresponding quarter in the previous year;
4. Interest Spread to Average Working Funds dropped by 6 bps to 2.57% during the year as compared to 2.63% achieved during the previous year;. 
5. Net Interest Margin dropped by 27 bps to 2.48% during the year as compared to 2.75% achieved during the previous year; The same was also droped by 62 bps to 2.23% for the quarter ended March 09 as compared to 2.85% achieved during the corresponding quarter in the previous year; 
6. Return on Average Assets (annualised) for the year was lower by 4 bps and stood at 1.02 % as compared to 1.06 % posted during the previous year;
7. Cost to Income Ratio increased by 275 bps to 51.40% during the year as compared to 48.65% achieved during the previous year; Cost to Income ratio however stood at 50.46% for the quarter ended March 09 as compared to 42.69% posted for the corresponding quarter during the previous year; 
8. Coverage Ratio for the year was droped by 44 bps to 2.97 as compared to 3.41% achieved during the previous year; 
9. Earning Per share was at Rs. 14.74 as compared to Rs. 12.54 for the previous year; 
10. Book Value Per Share (excluding Revaluation Reserve) improved by Rs.12.48 and stood at Rs.62.06 as at the end of the year as compared to Rs. 49.18 as on March 08;
11. Business mix per branch (with Inter Bank Deposit) improved by 23.00% and stood at Rs. 66.45 Crs as compared to Rs. 54.03 Crs as at the end of previous year;
12. Profit per Branch improved by 14.66% and stood at Rs.38.88 lacs as compared to Rs. 33.91 lacs for the previous year;
 
NEW INITIATIVES AND THRUST
 
Expanding Outreach 
 
1. 26 New Branches were opened during the year including the 1st foot print in the state of Meghalaya, thus increasing the total number of branches to 1184 
2. A new Regional Office at Panchkula (Haryana) was established for accelerating development of branches in the States of Haryana, Himachal Pradesh, Punjab, Jammu & Kashmir and Union Territory of Chandigarh by bifurcating New Delhi Region. The New Delhi Region will now comprise of Delhi and Rajasthan States only.;
3. 50 more branches were awarded ISO 9001:2000 Certification during the year, taking the total tally of ISO Certified Branches to 337.
Technology
 
1. Dena Garima – Bank’s Core Banking initiative gained momentum with rolling out of 498 branches during the year 2008-2009, taking the tally to 606 branches covering 293 centers and 26 states / union territories.
2. All the branches of the Bank are computerized and 99.80% of Bank’s business is conducted through technology based solutions.
3. A total of 387 ATMs have been installed as on 31st March 2009 all over the country. Out of these ATMs, 284 are Onsite and 103 are Offsite covering more than 260 centers. 
4. The Bank has launched Dena International Gold Debit Card to NHI customers with Visa affiliation.
5. The Bank is offering host of other techno enabled products viz. Mobile banking, Tele banking, Dena Billpay, e-payment of indirect Taxes and RTGS/ NEFT etc.
Human Resources Development
 
1. Recruitment process for 553 officers (including specialist officers) for the year 2008-09 was completed in the last week of December 08. 
2. 1610 employees have undergone training during Oct-Dec’08 in various thrust areas like Credit, CBS, Retail, NPA, SME, HR etc. at both in-house through STCs/DIIT/Sir SPBTC and through outside training agencies (both in India & Abroad).
3. Bank ensures to provide training to all employees to update and sharpen their skills.
4. Bank has carried out written test for internal promotion of 800 clerks to Officers (JMGS-I) and promotion of 310 JMG Scale-I officers to MMG Scale-II officers.
5. Bank recognises the efforts of outstanding achievers and encourages by suitable awards. Recently, an excursion tour with family of all achievers was organized at Lonawala during the quarter.
AUGMENTING RESOURCES
 
The following new products are introduced during the period 1st April 2007 – 31st March 2008.
 
 Dena Diamond Deposit Scheme:
 
With a view to remain competitive with other players in the market, the Bank had introduced “Dena Diamond Deposit Scheme” for a limited period with effect from 26th May 2007 with an objective to tap short and medium term deposits. The scheme offered the depositor an opportunity to earn higher interest for their investment for a fixed maturity period of 700 days. The scheme was offered upto 30th November 2007 only. 
 
Dena Recurring Depositors Insurance Scheme 
 
As per the tie-up arrangement with Life Insurance Corporation of India, Dena Recurring Depositors Insurance Scheme provides life insurance cover to Recurring Deposit account holder to the extent of the Maturity value of the Recurring Deposit, against risk of death during the tenure of Recurring Deposit, by paying a nominal annual Insurance premium. In all cases of unfortunate death of depositor during the period of RD, family / dependants of depositor will receive full maturity value of such Recurring Deposit.
  
Dena Tractor Borrowers’ Life Insurance Scheme
 
In tie-up arrangement with Life Insurance Corporation of India, Dena Tractor Borrowers’ Life Insurance Scheme is launched, which provides life insurance cover to Tractor loan borrowers to the extent of outstanding loan against risk of death during tenure of loan. In case of unfortunate death of Tractor Loan Borrower during currency of loan, LIC will settle the claim to liquidate outstanding loan amount. Thus family / dependents of the Tractor Loan Borrower are not burdened with repayment of outstanding loan. The insurance premium can be included in the project cost & financed by the Bank.
 
Garnering Fee Based IncomE
 
Special focus has been accorded to augmenting fee based income;
A separate marketing cell has been created at Corporate Office for selling of third party products viz. Bancassurance & Mutual Funds etc.;
The Bank entered into tie up arrangement with 3 more Mutual funds during the year in addition to existing 8, thus providing a bountiful basket of varied products from the leading mutual funds viz. UTI, ICICI Pru, LIC, Franklin Templeton, HDFC, Reliance, ING, Kotak Mutual, TATA AIG, Birla Sunlife, SBI Mutual Fund, for selling their products;
Bank has also tied up with LIC for selling Life Insurance Products and entered into a referral arrangement with Oriental Insurance for Non-life products. During the year two new products i.e. ‘Oriental Health Royal’ Medi-Claim Scheme & Personal Accident policy, were launched; 
An innovative ‘Dena Grah Swami Suraksha Yojna’ was introduced by the Bank, in association with LIC to provide Loan linked Life Insurance Cover to a Housing Loan Borrower during the currency of a the Loan;
A separate cell has also been created at Corporate Office, for shoring up the Govt Business by providing hassle free service to the customers at delivery channels and quicker processing of information / remittances;
The Bank has extended the facility of franking of stamps, beyond Mumbai, at 11 more branches at New Delhi and in the state of Rajasthan;
Bank entered into a Rupee Drawing Arrangement with UAE Exchange for inward remittances of NRI funds during the year, with a view to enable new client acquisition and help garner NRI / Resident deposits. This adds to the bank’s existing similar arrangements with Western Union Money & Times of Money for foreign inward remittances.
 Priority Lending
 
1. Collaborated with Gujarat Green Revolution Co Ltd for promoting lending under Micro Irrigation Scheme – Drip & Sprinkler Irrigation;
2. ‘Dena Swachha Gram Yojna’, a scheme to provide collateral free finance for construction of Toilets / Bathrooms in rural areas was launched by the Bank, with a view to provide clean and hygienic living conditions to the rural folk;
2.‘Dena Paryavaran Suraksha Yojna’, a scheme to finance auto rickshaw owners for acquiring / fitting CNG / LPG gas kit in old auto rickshaws, was launched as a measure to curb environmental air pollution. The Bank has so far financed 900 such auto rickshaw owners, thus contributing to a safer environment, in a subtle way;
3. Tie up with NBHC for financing to farmers and others against pledge of godown receipts.
4. MoU signed with M/S Zero Microfinance Saving Support Foundation as Service provider and with M/S A Little World As technology provider fo the financial inclusion in 2 districts of Gujrat covering 135 villages.
Corporate Social Responsibility
 
1. The Bank continues to sponsor One Girl Child at each of the villages in its command area of operation in the state of Gujarat, for pursuing secondary education under the scheme Dena Shiksha Protsahan Yojana, and 521 scholarship have been provided under the scheme so far; 
2. The Bank has adopted 51 villages in the State of Gujarat for all round development;
3. Bank has sponsored 2 RUDSETIs at Mehsana & Bhuj in the state of Gujarat to provide training to rural youth and women enabling them acquire skills for self-employment. More than 2864 rural youth trained so far; 
4. Pro-actively promoting the Innovators with need based & collateral free financing; 
 
Road Map ahead
 
1. The Bank plans to open at least 22 new branches during the current year;
2. Another Industrial Finance Branch is slated to be opened at New Delhi;
3. 450 more Branches are planned to be rolled out under CBS during FY 2008-09;
4. To expand outreach and facilitate rural centres with a greater number of bio-metric ATMs;
5. Bank proposes to enter into a tie-up arrangement with Postal Department for engaging their services as Business facilitators for processing and recovery of loans;
6. To continue to offer innovative deposit schemes to augment low cost / retail deposits;
7. The Bank continues to lay focus on credit to productive sectors of the economy viz. SME, Manufacturing and Agriculture etc.;
8. To shore up new avenues of fee based income viz. Selling of Gold, tie ups with more mutual funds / exchange houses etc.;
9. Committed to reposition itself as a robust medium sized Bank with strong fundamentals.

Exports up by 3.4% in April-March 2008-09

INDIA’S FOREIGN TRADE: MARCH, 2009. 


India’s cumulative value of exports for the period April-March, 2008-09 was US $ 168704 million (Rs.766935 crore) as against US $ 163132 million (Rs.655863 crore) registering a growth of 3.4 per cent in Dollar terms and 16.9 per cent in Rupee terms over the same period last year. Exports during March, 2008-09 were valued at US $ 11516 million which was 33.3 per cent lower than the level of US $ 17254 million during March, 2008. In rupee terms, exports touched Rs. 58997 crore, which was 15.3 per cent lower than the value of exports during March, 2007-08. 

India’s imports during March, 2008-09 were valued at US $ 15561 million representing a decrease of 34.0 per cent over the level of imports valued at US $ 23574 million in March, 2007-08. In Rupee terms, imports decreased by 16.2 per cent. Cumulative value of imports for the period April- March, 2008-09 was US$ 287759 million (Rs.1305503 crore) as against US$ 251654 million (Rs.1012312 crore) registering a growth of 14.3 per cent in Dollar terms and 29.0 per cent in Rupee terms over the same period last year.  

  Oil imports during March, 2008-09 were valued at US $ 3806 million which was 58.1 per cent lower than oil imports valued at US $ 9075 million in the corresponding period last year. Oil imports during April-March, 2008-09 were valued at US$ 93176 million which was 16.9 per cent higher than the oil imports of US$ 79715 million in the corresponding period last year. 

  Non-oil imports during March, 2008-09 were estimated at US $ 11755 million which was 18.92 per cent lower than non-oil imports of US$ 14498 million in March, 2007-08. Non-oil imports during April- March, 2009 were valued at US$ 194584 million which was 13.2 per cent higher than the level of such imports valued at US$ 171940 million in April- March, 2007-08.

  The trade deficit for April- March, 2008-09 was estimated at US $ 119055 million which was higher than the deficit at US $ 88522 million during April- March, 2007-08.

CARTIER 100TH ANNIVERSARY IN AMERICA CELEBRATION

Star-studded Event Honoring Bruce Weber and Benefiting ServiceNation

 Who: VIP’s from the world of fashion, music and entertainment joined Bernard Fornas, President & CEO of Cartier International, Frédéric de Narp, President & CEO of Cartier North America, Bruce Weber, Alan Khazei, the founder and CEO of Be The Change, Inc., a lead organizer of the ServiceNation campaign and the Cartier 100th Anniversary in America Host Committee: Lisa Arian, Jessica Biel, Sandra Brant and Ingrid Sischy, Tory Burch, Nan Bush, Graydon Carter, Chiara Clemente, Maria Cuomo Cole, Dayssi Olarte de Kanavos, Beth Rudin Dewoody, Susan Fales-Hill, Anne and Mario Grauso, Audrey B. Gruss, Anne Hathaway, Amanda Hearst, Sir Elton John, Kathleen “Kick” Kennedy, Martin Luther King III, Phillip Lim, Richard Meier, Demi Moore, Zac Posen, Patti Smith, Martha Stewart, Justin Timberlake, Laurie Tisch and Stephen Wynn.  

 Additional VIP guests attending included: Erin Fethersten, Kate Hudson, Dylan Lauren, Eva Mendes, Ashley Olsen, Thakoon Panichgul, Hilary Rhoda and Rachel Weisz.  

 What: Cartier hosted its 100th Anniversary in America Celebration and proudly presented, Cartier… 100 Years of Passion and Free Spirit in America. The exhibition displays 100 one-of-a-kind Cartier Collection creations and is showcased along side pieces loaned from private collections of some of Cartier’s most celebrated clients. The exhibition opened last night at the Cartier Fifth Avenue Mansion in New York and runs through May 21st and will move to Cartier’s Beverly Hills Rodeo Drive boutique and run June 1–14, 2009.  

The event honored Bruce Weber and the launch of his new book, Cartier I Love You: Celebrating 100 Years of Cartier In America. The event marked the first presentation of the book, which will be available for purchase in early June 2009 in bookstores around the world. Published by teNeues, 192 pages, $95 retail.  

 The evening also benefited ServiceNation (www.servicenation.org), a coalition of 190 nonprofit organizations that seeks to expand opportunities for Americans to serve at every life-stage and make service a core element of our culture. The ultimate vision of the ServiceNation coalition—which has a collective reach of some 100 million—is that by 2020 1 million Americans annually will volunteer for a year of national service, and another 100 million will spend time as community volunteers. A portion of the proceeds of the Bruce Weber book will go to ServiceNation.

Jaguar Land Rover to enter Indian market

Gaydon, England, 1st May, 2009 - Jaguar Land Rover has confirmed that it is to begin selling its range of premium performance saloon cars and sports utility vehicles in the Indian market later this year and has today reached agreement with Tata Motors Limited to be the exclusive importer. 

Jaguar and Land Rover's award-winning vehicles, including Jaguar's XF and XKR and Land Rover's Discovery and Range Rover, are renowned around the world for their unique blend of refined luxury, quality and capability and will now become officially available in this rapidly expanding market. 

David Smith, CEO of Jaguar Land Rover, said: "We are delighted to be formally entering the Indian market, an economy which is still growing appreciably, and able to offer our premium products to a whole new group of customers. It is an important strategic move for Jaguar Land Rover and will enable us to realise our competitive potential in this significant market." 

The newly-formed Premier Car Division, within Tata Motors Passenger Car Business unit, will assume responsibility for the distribution of all Jaguars and Land Rovers in India and is also due to open the first showroom at Ceejay House in Worli, Mumbai, in June this year. This flagship facility will offer a range of both Jaguar and Land Rover vehicles and aims to establish a benchmark experience in luxury car sales in India.

Rohit Suri, who has extensive premium automotive sector experience, has been appointed to head the new organisation and is leading plans to develop a dealer network through 2009 and 2010. 

Ravi Kant, Managing Director of Tata Motors, commented: "This is a natural move for both businesses and will allow Jaguar and Land Rover to establish a strong and deserved presence in India. We are very pleased to develop our relationship with Jaguar Land Rover in this way and to provide the opportunity for Indian customers to access their premium products for the first time."

Maruti Suzuki sales in April 2009

New Delhi, May 01, 2009

Car market leader Maruti Suzuki India Limited sold a total of 71,748 vehicles in April 2009. This includes 6,891 units for export.

This is the fourth consecutive month of sales crossing 70,000 units mark. 

The company had sold a total of 62,336 vehicles in April 2008.

Maruti Suzuki's volume in the domestic A2 segment grew by 9 per cent while in the A3 segment the sales volume grew by 69 per cent during the month as compared to sales in April 2008.

Honda Siel Cars India registers a growth of 7.5% in April ’09

New Delhi, May 01: Honda Siel Cars India (HSCI), leading manufacturer of premium cars in India, continued its upward movement in the first month of the new Financial Year 2009 – 10. The company registered sales of 3,656 units during the month of April’09, an impressive growth of 7.5% over 3,400 units sold during April ’08. 

 Expressing delight over the company’s performance Mr. Jnaneswar Sen, Vice President, Marketing, Honda Siel Cars India Ltd. said, “We have shown resilience during the slowdown and have entered the new financial year on a positive note. We are very excited about our new premium car, Honda Jazz which will be launched very soon in India.” 

 Model wise break-up for April ’09: City: 2,801; Civic: 625; Accord: 230

 About Honda Siel Cars India Ltd

 Honda Siel Cars India Ltd., (HSCI) leading manufacturer of passenger cars in India was established in December 1995 as a joint venture between Honda Motor Co. Ltd (Japan) and Siel Limited with a commitment to provide Honda’s latest passenger car models and technologies, to the Indian customers. 


HSCI’s first state-of-the-art manufacturing unit was set up at Greater Noida, U.P in 1997 with an investment of Rs. 450 crore. The total investment made by the company in India till date is Rs. 1620 crores. At present, the company has a capacity of manufacturing 100,000 cars. 


 The company’s product range include Honda City, Honda Civic and Honda Accord which are produced at the Greater Noida facility with an indigenization level of 74%, 74% and 28% respectively. The CR-V & Civic Hybrid are imported from Japan as Completely Built Units. Honda’s models are strongly associated with advanced design and technology, apart from its established qualities of durability, reliability and fuel-efficiency. 

 HSCI’s second manufacturing facility is in Tapukara, Rajasthan. This facility is spread over 600 acres and will have an initial production capacity of 60,000 units per annum, with an investment of about Rs 1,000 crore. The first phase of this facility was inaugurated in September 2008. 

 Corporate Awards of HSCI in 2009 includes: “Indian Car of the Year 2009” (Honda City), “BS Motoring Car of the year” (Honda City), “Zigwheels Car of the year” (Honda City), “Zigwheels Sedan of the year” (Honda City), UTVi - Autocar Viewers Choice Award (Honda City), UTVi - Autocar Best Design and Styling Award (Honda City),UTVi-Autocar Best Luxury Car (Honda Accord), UTVi-Autocar 2009 Green Award (Honda Civic Hybrid), CNBC TV18 Overdrive Awards 2009 Viewer’s Choice Car of the Year (Honda City),CNBC TV18 Overdrive Green Award (Honda Civic Hybrid), “Very Reliable”, “Environmental Friendly” and “Good Advertising” by Apollo Tyres Auto India Best Brand Survey Awards 2009, NDTV Profit – Car India & Bike India Awards 2009 Car of the Year (Honda City), NDTV Profit – Car India & Bike India Awards 2009, Mid-Size Car of the Year (Honda City), NDTV Profit – Car India & Bike India Awards 2009 Viewers’ Choice Car of the Year(Honda City), Top Gear “Bang for your Buck award” (Honda Accord) and “Safety award” (Honda).

 Honda's Exchange and Pre-Owned car division Auto Terrace has been in existence ever since the inception of HSCI in India. Present in all major Honda dealers across the country, Auto Terrace presents itself as the one-stop solution for catering to the needs of customers wanting to exchange their existing cars for a New Honda car.

 The company operates under the stringent standards of ISO 9001 for quality management and ISO 14001 for environment management.

Hyundai sales grow at 10.9% in April ‘09

- Domestic sales up marginally by 3.5% while exports register 19.6% growth

New Delhi, May 1, 2009: Hyundai Motor India Ltd (HMIL), the country’s second largest car manufacturer and the largest passenger car exporter, registered a growth in cumulative sales for the month of April, 2009. While the domestic sales grew by a marginal 3.5% the exports grew by 19.6 %. The cumulative sales however grew by 10.9%.

HMIL’s total sales for April, 2009 stood at 44,371 units against 40,000 units last in April, 2008. The domestic market accounted for 22,247 units, compared to 21,501 units for the same month last year while the exports totaled 22,124 units in April, 2009 against 18,499 units of April, 2008. 

Commenting on April, 2009 sales Arvind Saxena, Sr. Vice President - Marketing and Sales, HMIL said, “As compared to last year we saw a modest growth in April, 2009. However, we still feel that the market is far from a complete turnaround and it will be a while before we see healthy double digit growth. We will however continue to offer our customers innovative schemes and products to offset the effects of the slowdown”.

The segment-wise cumulative sales in the month of April, 2009 are as follows: A2 Segment (Santro, i10, Getz & i20) 41,258 units; A3 Segment (Accent & Verna) 3,073 units; A5 Segment (Sonata Transform) 34 units; and SUV Segment (Tucson): 6 units.


About HMIL 

Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company, South Korea and is the second largest car manufacturer and the largest passenger car exporter from India. HMIL presently markets 33 variants of passenger cars across segments. The Santro in the B segment, the Getz Prime, i10 and the Premium hatchback i20 in the B+ segment, the Accent and the Verna in the C segment, the Sonata in the E segment and the Tucson in the SUV segment. 

Hyundai Motor India, continuing its tradition of being the fastest growing passenger car manufacturer, registering total sales of 489,328 vehicles in the calendar year (CY) 2008, an increase of 49.6 percent over CY 2007. In the domestic market it clocked a growth of 22.4 percent as compared to 2007 with 245,397 units, while overseas sales grew by 92.5 percent, with exports of 243,931 units. 

HMIL`s fully integrated state-of-the-art manufacturing plant near Chennai boasts of the most advanced production, quality and testing capabilities in the country. In continuation of its commitment to provide the Indian customer with global technology, HMIL commissioned its second plant in February 2008 which produces an additional 300,000 units per annum, raising HMIL`s total production capacity to 600,000 units per annum. 

HMIL has invested to expand capacity in line with its positioning as HMC`s global export hub for compact cars. Apart from the expansion of production capacity, HMIL currently has 252 strong dealer network across India, which will be further bolstered in 2009. 

In 2008, HMIL also successfully completed 10 glorious years of operations in India and to commemorate its achievements, initiated a unique trans-continental drive from Delhi to Paris in two of its hugely popular i10 Kappa cars. The drive created automobile history by completing a distance of 10,000km in just 17 days after which the i10s were showcased at the Paris Motor Show in October. In fact it was at the Paris Motor Show that HMIL first unveiled the Hyundai i20 and the car received a phenomenal response from the auto enthusiasts across the world. Hyundai Motor India also accomplished the landmark of producing the fastest 20th lakh cars in India in 2008. 

Like 2008, the year 2007 had also been a significant year for Hyundai Motor India. It achieved a significant milestone by rolling out the fastest 400,000th export car. Hyundai exported to over 100 countries globally; even as it plans to continue its thrust in existing export markets, it is gearing up to step up its foray into new markets. 2007 also saw the launch of the i10 and yet another path-breaking record in its young journey by rolling out the fastest 1,500,000th car. 

Hyundai`s new model i10 made a clean sweep of all the `Car of the Year 2008` awards from the leading automotive magazines and TV channels like BS Motoring, CNBC-TV18 AutoCar, NDTV Profit Car & Bike India and Overdrive magazine. The i10 was also the choice of the discerning automotive media of the country as they conferred the prestigious `Indian Car of the Year` (ICOTY) award to the i10 as well. 

The Santro and the Accent also received the `TNS Voice of the Customer - 2008` award for the Premium Compact Car (Santro) and the Entry Mid size Car (Accent). In March 2008 it achieved yet another milestone by rolling out the fastest 500,000th export car. 

In 2007, the Hyundai Verna had also bagged some of the most prestigious awards starting with the Overdrive magazine`s `Car of the Year 2007`, the `Best Mid-size Car of the Year` award from NDTV Profit Car & Bike India, the `Best Value for Money Car` from CNBC Autocar and `Performance Car of the Year` from Business Standard Motoring. 

Hyundai cars have been a favorite at all awards ceremonies and has won many awards. The Sonata Embera won the `Executive Car of The Year 2006` award from Business Standard Motoring magazine and NDTV Profit Car & Bike India had declared the Tucson as the `SUV of The Year 2006`. 

Not only this, HMIL has also been awarded the benchmark ISO 14001 certification for its sustainable environment management practices.