A

COMPREHENSIVE PROJECT REPORT

ON
CASE STUDY ON FIVE WOMEN ENTREPRENEURS
Submitted to
C K SHAH VIJAPURWALA INSTITUTE OF MANAGEMENT
IN PARTIAL FULFILMENT OF THE
REQUIREMENT OF THE AWARD FOR THE DEGREE OF
MASTER OF BUSINESS ADMINISTRATION
Under
Gujarat Technological University
UNDER THE GUIDANCE OF
Faculty Guide
Ms. Savitha K. (Associate Professor)
Submitted by
Pankti Shah (097050592030)
Hansa Karena (097050592038)
M.B.A SEMESTER IV
C K SHAH VIJAPURWALA INSTITUTE OF MANAGEMENT,
M.B.A PROGRAMM
Affiliated to Gujarat Technological University
Ahmedabad
April 2011
1
A
COMPREHENSIVE PROJECT REPORT
ON
CASE STUDY ON FIVE WOMEN ENTREPRENEURS
Submitted to
C K SHAH VIJAPURWALA INSTITUTE OF MANAGEMENT
IN PARTIAL FULFILMENT OF THE
REQUIREMENT OF THE AWARD FOR THE DEGREE OF
MASTER OF BUSINESS ADMINISTRATION
Under
Gujarat Technological University
UNDER THE GUIDANCE OF
Faculty Guide
Ms. Savitha K. (Associate Professor)
Submitted by
Pankti Shah (097050592030)
Hansa Karena (097050592038)

M.B.A SEMESTER IV
C K SHAH VIJAPURWALA INSTITUTE OF MANAGEMENT,
M.B.A PROGRAMM
Affiliated to Gujarat Technological University
Ahmedabad
April 2011
1
College certificate

2
College certificate

PREFACE
SOUND BECOMES MUSIC, IF A TRAINED PERSON USES IT
The above proverb itself is the significance of the industrial training with
the theoretical knowledge in the fields of management.
In order to understand the importance of practical aspect with the
managerial mind, it is a field of a practical training especially in the field of
management one must know the real situation of running business in order to
strengthen the decision making and training ability in the area of management.
So, all the useful information was made available from firm, which is
presented over here with best managerial efforts.

PREFACE
SOUND BECOMES MUSIC, IF A TRAINED PERSON USES IT
The above proverb itself is the significance of the industrial training with
the theoretical knowledge in the fields of management.
In order to understand the importance of practical aspect with the

managerial mind, it is a field of a practical training especially in the field of

management one must know the real situation of running business in order to
strengthen the decision making and training ability in the area of management.
So, all the useful information was made available from firm, which is
presented over here with best managerial efforts.

3
ACKNOWLEDGEMENT
The successful and timely completion of this Project would not possible without
the kind co-operation and guidance of Ms. Savitha K.
We are grateful to all the faculties and other staff of our college for their support
and guidance towards the project which was our part of training.
We would like to thank Dr. Rajesh Khajuria, Director of C K Shah Vijapurwala
Institute of Management, Vadodara for his motivation.
PLACE : Vadodara
Date :

Yours Faithfully,

Pankti Shah

Hansa Karena

4
ACKNOWLEDGEMENT
The successful and timely completion of this Project would not possible without
the kind co-operation and guidance of Ms. Savitha K.
We are grateful to all the faculties and other staff of our college for their support
and guidance towards the project which was our part of training.
We would like to thank Dr. Rajesh Khajuria, Director of C K Shah Vijapurwala
Institute of Management, Vadodara for his motivation.
PLACE : Vadodara
Date :

Yours Faithfully,

Pankti Shah

Hansa Karena

4
DECLARATION
We , Pankti Shah and Hansa Karena, hereby declare that the
Comprehensive Project entitled CASE STUDY ON FIVE WOMEN
ENTREPRENEURS is a result of our own work and our indebtedness to other
work publications, references ,if any ,have been duly acknowledged.
Place: Vadodara
Date :

Yours faithfully,

Pankti Shah

Hansa Karena

5
DECLARATION
We , Pankti Shah and Hansa Karena, hereby declare that the
Comprehensive Project entitled CASE STUDY ON FIVE WOMEN
ENTREPRENEURS is a result of our own work and our indebtedness to other
work publications, references ,if any ,have been duly acknowledged.
Place: Vadodara
Date :

Yours faithfully,

Pankti Shah

Hansa Karena

5
Executive Summary
If you are a woman and especially a person of colour, there are two strikes
against you. Immigrant, person of colour, and woman, three strikes against you
So I would work extra hard at it. More hours, yes. More sacrifices and trade-offs,
yes. That has been the journey.
-Ms. Indra Nooyi
A successful woman entrepreneur is extremely ambitious, has an inner urge or
drive to transform an idea into reality. she is ready to seize opportunities, sets
goal, possess clear vision, steps confidently forward and is ambitious to succeed.
Every successful woman entrepreneur is truly determined to achieve goals and
make her business flourish. In-depth knowledge of the field is essential to
success. She comes with new innovative solutions to old problems to tide over
issues.
Here we are discussed about five successful women entrepreneurs in India and
their success. We also discussed how they running their organization
successfully.
1.Ekta Kapoor , Creative Director, Balaji Telefilms

2. Indra Nooyi , Chief Executivedesignate, Pepsi Co.

3.Anu Aga- Chairperson (former) Thermax Group
4.Dr.
Kiran
Mazumdar
Shaw( Chairman
&
Managing
Director
of Biocon Limited.)
5.Shahnaz Husain,(CEO of Shahnaz Herbals)
6
Executive Summary
If you are a woman and especially a person of colour, there are two strikes
against you. Immigrant, person of colour, and woman, three strikes against you
So I would work extra hard at it. More hours, yes. More sacrifices and trade-offs,
yes. That has been the journey.
-Ms. Indra Nooyi
A successful woman entrepreneur is extremely ambitious, has an inner urge or
drive to transform an idea into reality. she is ready to seize opportunities, sets
goal, possess clear vision, steps confidently forward and is ambitious to succeed.
Every successful woman entrepreneur is truly determined to achieve goals and
make her business flourish. In-depth knowledge of the field is essential to
success. She comes with new innovative solutions to old problems to tide over
issues.
Here we are discussed about five successful women entrepreneurs in India and
their success. We also discussed how they running their organization
successfully.
1.Ekta Kapoor , Creative Director, Balaji Telefilms
2. Indra Nooyi , Chief Executivedesignate, Pepsi Co.
3.Anu Aga- Chairperson (former) Thermax Group
4.Dr.
Kiran
Mazumdar
Shaw( Chairman
&
Managing
Director
of Biocon Limited.)
5.Shahnaz Husain,(CEO of Shahnaz Herbals)

6
TABLE OF CONTENTS

Preface
Acknowledgement
Declaration
Executive summary
SR. NO.
PARTICULARS
PAGE NOS.
1
Ekta Kapoor , Creative Director, Balaji
8
Telefilms
Ekta Kapoor Career Graph
9-15
Balaji Telefilms Information
16-36
2
Indra Nooyi , Chief Executivedesignate,
37
Pepsi Co.
Ms. Indra Nooyi Career Graph
39-41
Pepsi Co. Information
42-61
3
Anu Aga- Chairperson (former) Thermax
62
Group
Ms. Anu Aga Career Graph
63-66
Thermax Group Information
67-79
4
Dr. Kiran Mazumdar Shaw( Chairman &
80
Managing Director of Biocon Limited.)
Dr. Kiran Mazumdar Shaw Career Graph
81-86
Biocon Limited. Information
87-101
7

TABLE OF CONTENTS

Preface
Acknowledgement
Declaration
Executive summary
SR. NO.
PARTICULARS
PAGE NOS.
1
Ekta Kapoor , Creative Director, Balaji
8
Telefilms
Ekta Kapoor Career Graph
9-15
Balaji Telefilms Information
16-36
2
Indra Nooyi , Chief Executivedesignate,
37
Pepsi Co.
Ms. Indra Nooyi Career Graph
39-41
Pepsi Co. Information
42-61
3
Anu Aga- Chairperson (former) Thermax
62
Group
Ms. Anu Aga Career Graph
63-66
Thermax Group Information
67-79
4
Dr. Kiran Mazumdar Shaw( Chairman &
80
Managing Director of Biocon Limited.)
Dr. Kiran Mazumdar Shaw Career Graph
81-86
Biocon Limited. Information
87-101
7
5
Shahnaz

Husain,(CEO
of
Shahnaz
102
Herbals)
Shahnaz Husain Career Graph
103-105
Shahnaz Herbals Information
106-111
Bibliography

8
5
Shahnaz
Husain,(CEO
of
Shahnaz
102
Herbals)
Shahnaz Husain Career Graph
103-105
Shahnaz Herbals Information
106-111
Bibliography

1.Ekta Kapoor ,
(Creative Director,
Balaji Telefilms)

1.Ekta Kapoor ,
(Creative Director,
Balaji Telefilms)

9
General Information
ABOUT EKTA KAPOOR
Ekta Kapoor , born on June 7, is the Creative Head of Balaji
Telefilms. She is aptly called the Queen of Indian Television Industry. The serials
produced by her company Balaji Telefilms are a smashing hit with the masses
and dominate all the major T.V. channels in India. Ekts serials have not only
captured the imagination of the masses but also their soul. She did her schooling
from Bombay Scottish School and after that she joined Mithibai College. After the
college her father Jitendra suggest her to open balaji TV production house which
now a days no.1 telefilms. At that time ekta only turned 19. she enter like child in
indian television and become the queen of indian tv serials.
Her shows have broken all Previous records of TV serial Production and
popularity in India. For her entrepreneurial skills and achievements
Ekta Kapoor was rewarded the Ernst & Young (E&Y) Startup Entrepreneur Of
The Year award in 2001. Although she hasn`t clearly followed the footsteps of
her father - actor Jeetendra and current emerging star Tushar Kapoor, she has
already become a shooting star in the genre of production and programming.
Since producing her first blockbuster television program at the age of 19, Ekta
Kapoor has successfully rewritten the script on TV entertainment for the masses.
She has very successfully created more than 20 soaps on 10 major Indian
networks. The Indian showbiz community keeps a vigil on her every move, and

older, more experienced producers are quic to copy any new concept brought in
by thSOAP QUEENf Indian television.
She is a smart woman with a definite agenda and has also been appropriately
termed as Asis most powerful communicator and the lady no.1 in Hindi
10
General Information
ABOUT EKTA KAPOOR
Ekta Kapoor , born on June 7, is the Creative Head of Balaji
Telefilms. She is aptly called the Queen of Indian Television Industry. The serials
produced by her company Balaji Telefilms are a smashing hit with the masses
and dominate all the major T.V. channels in India. Ekts serials have not only
captured the imagination of the masses but also their soul. She did her schooling
from Bombay Scottish School and after that she joined Mithibai College. After the
college her father Jitendra suggest her to open balaji TV production house which
now a days no.1 telefilms. At that time ekta only turned 19. she enter like child in
indian television and become the queen of indian tv serials.
Her shows have broken all Previous records of TV serial Production and
popularity in India. For her entrepreneurial skills and achievements
Ekta Kapoor was rewarded the Ernst & Young (E&Y) Startup Entrepreneur Of
The Year award in 2001. Although she hasn`t clearly followed the footsteps of
her father - actor Jeetendra and current emerging star Tushar Kapoor, she has
already become a shooting star in the genre of production and programming.
Since producing her first blockbuster television program at the age of 19, Ekta
Kapoor has successfully rewritten the script on TV entertainment for the masses.
She has very successfully created more than 20 soaps on 10 major Indian
networks. The Indian showbiz community keeps a vigil on her every move, and
older, more experienced producers are quic to copy any new concept brought in
by thSOAP QUEENf Indian television.
She is a smart woman with a definite agenda and has also been appropriately
termed as Asis most powerful communicator and the lady no.1 in Hindi
10
serials and movies. As the creative director of Balaji Telefilms in Mumbai,
Ekta continues to produce absorbing dramas - whether about an ambitious
tycoon or a charismatic but scheming wife or a 70-year-old grandmother
looking for a job - that consistently strikes a chord with viewers across the
subcontinent.
"It's been seven years of hard work. But I enjoyed myself."
- Ekta Kapoor, Associate Director, Balaji Telefil
Why did we take Ekta Kapoor?
Ekta Kapoor is considered to be one of the most vibrant and innovative

businessperson of India. She is rightly called the "ruling queen of Indian

television industry". The serials made by her production house Balaji
Telefilms are smashing hits in all across India. These daily soaps produced
by Ekta Kapoor dominate all the major television shows in various channels in
India. Her serials have not only caught the imagination of the crowds but also
their heart.
What position is Ekta Kapoor now in Balaji Telefilms?
Ekta Kapoor is the creative director of Balaji Telefilms. Her company has
produced more than 25 serials and each one is being shown, on an average,
four times a week on different television channels. Ekta Kapoor's serials have
captured the imagination of masses. She broken all previous records of TV
serial production and popularity in India.
11
serials and movies. As the creative director of Balaji Telefilms in Mumbai,
Ekta continues to produce absorbing dramas - whether about an ambitious
tycoon or a charismatic but scheming wife or a 70-year-old grandmother
looking for a job - that consistently strikes a chord with viewers across the
subcontinent.
"It's been seven years of hard work. But I enjoyed myself."
- Ekta Kapoor, Associate Director, Balaji Telefil
Why did we take Ekta Kapoor?
Ekta Kapoor is considered to be one of the most vibrant and innovative
businessperson of India. She is rightly called the "ruling queen of Indian
television industry". The serials made by her production house Balaji
Telefilms are smashing hits in all across India. These daily soaps produced
by Ekta Kapoor dominate all the major television shows in various channels in
India. Her serials have not only caught the imagination of the crowds but also
their heart.
What position is Ekta Kapoor now in Balaji Telefilms?
Ekta Kapoor is the creative director of Balaji Telefilms. Her company has
produced more than 25 serials and each one is being shown, on an average,
four times a week on different television channels. Ekta Kapoor's serials have
captured the imagination of masses. She broken all previous records of TV
serial production and popularity in India.
11
What are the process of coming to a director position?
Ekta Kapoor or the K lady is the king-pin of the Indian Television Industry.

Born on 7th June 1975, she has a typical look: soft tussled brown hair with a
large red tika on her forehead. She heads Balaji Telefilms, a Production
House based in Mumbai.
Ektas father is none other than Jeetendra, the superstar, and her brother
Tusshar Kapoor, current Bollywood actor.
In Television as a Producer:
Ektas first soap was KyunkiSaas Bhi Kabhi Bahu Thi. It started in 1999,
and was aired on Star Plus till November 2008, making it not only one of the
longest running serials in the history of Indian Television, but also one of the
most loved. The central character, Tulsi became one of the most recognized
faces on the TV screen.
Then came Kutumb in 2000 on Sony TV, and lasted a year. It was rather
popular initially, but the ratings dwindled towards the closure of the soap.
The same year Kahaani Ghar Ghar Kii hit the screen. Ekta specializes in
family drama, and this was no different. The audience loved it as much as her
other
soaps.
In 2001 came another superhit series Kasautii Zindagii Kay. It was aired on
Star Plus as well.
Kkusum (2001), told the story of a simple yet strong girl. Needless to say the
audience fell in love with the central character, comparing their own
daughters and daughter-in-laws to her!
12
What are the process of coming to a director position?
Ekta Kapoor or the K lady is the king-pin of the Indian Television Industry.
Born on 7th June 1975, she has a typical look: soft tussled brown hair with a
large red tika on her forehead. She heads Balaji Telefilms, a Production
House based in Mumbai.
Ektas father is none other than Jeetendra, the superstar, and her brother
Tusshar Kapoor, current Bollywood actor.
In Television as a Producer:
Ektas first soap was KyunkiSaas Bhi Kabhi Bahu Thi. It started in 1999,
and was aired on Star Plus till November 2008, making it not only one of the
longest running serials in the history of Indian Television, but also one of the
most loved. The central character, Tulsi became one of the most recognized
faces on the TV screen.
Then came Kutumb in 2000 on Sony TV, and lasted a year. It was rather
popular initially, but the ratings dwindled towards the closure of the soap.
The same year Kahaani Ghar Ghar Kii hit the screen. Ekta specializes in
family drama, and this was no different. The audience loved it as much as her

other
soaps.
In 2001 came another superhit series Kasautii Zindagii Kay. It was aired on
Star Plus as well.
Kkusum (2001), told the story of a simple yet strong girl. Needless to say the
audience fell in love with the central character, comparing their own
daughters and daughter-in-laws to her!
12
Her other serials that have done well are: Kavyanjali (2005), Kasamh Se
(2006).
She has also produced few Bollywood films `Kyu Kii... Main Jhuth Nahin
Bolta,` `Kucch To Hai,` `Krishna Cottage,` `Koi Aap Sand `Kyaa Kool Hai
Hum,` `Shootout at Lokhandwala,` `Mission Istanbulnd produced nce
Upon a Time in Mumbai.
Who are the persons behind Ekta Kapoor?
Ekta kapoor gives credit to her family for her success,
Ekta kapoor with jiterdra(ekta's great dad)
Starting off from a scratch with her star father Jitendras status helping little in
pulling off her dream ambition - Ekta Kapoor gambled her way into television
production.
Though her dreams appeared to shatter as her creative products flopped on the
small screen, her confidence in her self and her belief in the Almighty saw her
pulling off success with a hilarious comedy show Hum Paanch. After that there
has been no looking back for this young wizard-ress of Indian television.
Ekta kapoor with shobha kapoor(ekta's great mother)
Mrs. Shobha Kapoor, the Managing Director of Balaji, is in charge of the overall
administrative and production activities of the company.
Ms. Ekta Kapoor, the creative director in the company, oversees the creative
side of the company's business. She has been the instrumental factor behind
BTL's foray into regional channels. Academically she has a graduation degree in
Commerce from the University of Mumbai.
13
Her other serials that have done well are: Kavyanjali (2005), Kasamh Se
(2006).
She has also produced few Bollywood films `Kyu Kii... Main Jhuth Nahin
Bolta,` `Kucch To Hai,` `Krishna Cottage,` `Koi Aap Sand `Kyaa Kool Hai
Hum,` `Shootout at Lokhandwala,` `Mission Istanbulnd produced nce
Upon a Time in Mumbai.
Who are the persons behind Ekta Kapoor?

Ekta kapoor gives credit to her family for her success,

Ekta kapoor with jiterdra(ekta's great dad)
Starting off from a scratch with her star father Jitendras status helping little in
pulling off her dream ambition - Ekta Kapoor gambled her way into television
production.
Though her dreams appeared to shatter as her creative products flopped on the
small screen, her confidence in her self and her belief in the Almighty saw her
pulling off success with a hilarious comedy show Hum Paanch. After that there
has been no looking back for this young wizard-ress of Indian television.
Ekta kapoor with shobha kapoor(ekta's great mother)
Mrs. Shobha Kapoor, the Managing Director of Balaji, is in charge of the overall
administrative and production activities of the company.
Ms. Ekta Kapoor, the creative director in the company, oversees the creative
side of the company's business. She has been the instrumental factor behind
BTL's foray into regional channels. Academically she has a graduation degree in
Commerce from the University of Mumbai.
13
Ekta kapoor with tushar kapoor
"Full of flavours" is how Tushar Kapoor defines his relationship with sister Ekta. One is
cool, calm and cooperative while the other is temperamental, terse and touchy.
She is still very determined to prove what she thinks is right. She never gives up and he
really admire her for the patience she has to wait for her efforts to bear fruit. When he
decided to enter in the film industry, he was surprised to know the amount of labour
required there. Part of it had to do with his good academic background.

QUOTES BY EKTA KAPOOR

"Being in a city like Mumbai, its hard for us to accept the reality of small
towns and villages; the shows reflect this. Our viewers are not Mumbai, but in
the smaller townships across the country. Its not a geopolitical divide, but
psychological
- Ekta Kapoor
"I am looking forward to some exciting and hitherto unknown facts to emerge
from her association"
- Ekta Kapoor
"In a biopic, the central character should have one distinctive trademark feature
that stands out so we thought, 'why not let Ajay wear white?' We had made 40
different sets of clothes for him in various colours but couldn't use them. We had
to scrap them all"
- Ekta Kapoor

"I will essay the younger son of Bhoopat Rai Sood. His elder brother is no more
and the property has been passed to the son of the elder brother Siddharth
14
Ekta kapoor with tushar kapoor
"Full of flavours" is how Tushar Kapoor defines his relationship with sister Ekta. One is
cool, calm and cooperative while the other is temperamental, terse and touchy.
She is still very determined to prove what she thinks is right. She never gives up and he
really admire her for the patience she has to wait for her efforts to bear fruit. When he
decided to enter in the film industry, he was surprised to know the amount of labour
required there. Part of it had to do with his good academic background.

QUOTES BY EKTA KAPOOR

"Being in a city like Mumbai, its hard for us to accept the reality of small
towns and villages; the shows reflect this. Our viewers are not Mumbai, but in
the smaller townships across the country. Its not a geopolitical divide, but
psychological
- Ekta Kapoor
"I am looking forward to some exciting and hitherto unknown facts to emerge
from her association"
- Ekta Kapoor
"In a biopic, the central character should have one distinctive trademark feature
that stands out so we thought, 'why not let Ajay wear white?' We had made 40
different sets of clothes for him in various colours but couldn't use them. We had
to scrap them all"
- Ekta Kapoor
"I will essay the younger son of Bhoopat Rai Sood. His elder brother is no more
and the property has been passed to the son of the elder brother Siddharth
14
instead of me. This is annoying to me. Initially, I am not being depicted as a gray
character but eventually I might change."
- Ekta Kapoor
ANSWERS BY EKTA KAPOOR
What does it take to succeed in the creative economy?
She told,
You need to evolve and re-evolve to align yourself with changing
tastes.
Great content is all about great basic thoughts! Things you and I can

see all around, but no one has been able to pick up and use as a
concept.
Do you see yourself as an entrepreneur? Give us your sense of the creative
economy.
She said,
Yes, I am an entrepreneur but not in the conventional sense. I have learnt
business as time passed, but I do not have a B-school education.
Speaking of the creative economy, it is a completely new field. Films have been
there for the last 100 years but television, media, content for mobiles have just
made everything so much larger. We now suddenly realize that this is an
environment friendly industry which requires very little capital; though it requires
absolute skills. And when the medium gets aligned to the content, it creates a
whole new breed of professionals.
I think the time has come for media schools to be considered mainstream and
present a choice of professions. We are going to have various niche channels
15
instead of me. This is annoying to me. Initially, I am not being depicted as a gray
character but eventually I might change."
- Ekta Kapoor
ANSWERS BY EKTA KAPOOR
What does it take to succeed in the creative economy?
She told,
You need to evolve and re-evolve to align yourself with changing
tastes.
Great content is all about great basic thoughts! Things you and I can
see all around, but no one has been able to pick up and use as a
concept.
Do you see yourself as an entrepreneur? Give us your sense of the creative
economy.
She said,
Yes, I am an entrepreneur but not in the conventional sense. I have learnt
business as time passed, but I do not have a B-school education.
Speaking of the creative economy, it is a completely new field. Films have been
there for the last 100 years but television, media, content for mobiles have just
made everything so much larger. We now suddenly realize that this is an
environment friendly industry which requires very little capital; though it requires
absolute skills. And when the medium gets aligned to the content, it creates a
whole new breed of professionals.
I think the time has come for media schools to be considered mainstream and
present a choice of professions. We are going to have various niche channels
15

and we are going to have regional movies coming up. Be it music, films or new
media, there is going to be need for fresh content. In it, the creative and the
business side will get enough prominence.
I think we are seeing the creative economy as just the tip of an iceberg. It is
going to fully reveal itself after 10 years. The mediums are actually developing
and evolving. Once 3G or 4G comes in, people will want instant gratification as
far as entertainment goes. So, there will be professionals catering to that need.
What are the critical qualities one needs to succeed in the creative
economy?
She said,
One is basic instinct! You have to know and smell your viewer. Whoever I am
catering to--[even] the housewife sitting at home--I need to know her taste! So,
instinct is probably the driving force that would stand out for any creative
entrepreneur. The second and most important thing would be "evolving". I have
realized that the taste of the viewer can constantly change. So you need to sniff
out the need for change. Constantly restructuring your own business to cater to
changing taste is imperative. You can become successful by doing a certain kind
of content [as per] your instinct. [But] you need to reach out to people constantly.
The very next year you might have to revolve that same instinct to align yourself
to the new state and probably pre-empt it.

16
and we are going to have regional movies coming up. Be it music, films or new
media, there is going to be need for fresh content. In it, the creative and the
business side will get enough prominence.
I think we are seeing the creative economy as just the tip of an iceberg. It is
going to fully reveal itself after 10 years. The mediums are actually developing
and evolving. Once 3G or 4G comes in, people will want instant gratification as
far as entertainment goes. So, there will be professionals catering to that need.
What are the critical qualities one needs to succeed in the creative
economy?
She said,
One is basic instinct! You have to know and smell your viewer. Whoever I am
catering to--[even] the housewife sitting at home--I need to know her taste! So,
instinct is probably the driving force that would stand out for any creative
entrepreneur. The second and most important thing would be "evolving". I have
realized that the taste of the viewer can constantly change. So you need to sniff
out the need for change. Constantly restructuring your own business to cater to
changing taste is imperative. You can become successful by doing a certain kind
of content [as per] your instinct. [But] you need to reach out to people constantly.

The very next year you might have to revolve that same instinct to align yourself
to the new state and probably pre-empt it.

16
AWARDS OF EKTA KAPOOR
In the short span of her career this young entrepreneur of India has achieved
many awards and civic honors. She was chosen to lead the Confederation of
Indian Industries' (CII) entertainment committee. In the last two years she has
also bagged the Indian Telly Awards. The other awards she received are:
The Society Achiever Award
The Best Entrepreneur of the Year 2001
The 6th Indian Telly Awards 2006
Ekta Kapoor receives Most Outstanding Woman Entrepreneur award
Asia's Most Powerful Communicator is the very nice award for ekta kapoor
Education of Ekta Kapoor
Ekta Kapoor completed her schooling from Bombay Scottish School. After
completion of schooling, she attended Mithibai College. Since she was not so
interested in academics, her great actor-father Jeetendra advised her to open the
Balaji Television production house. At that time, Ekta was only 19 years of age.
EKTA KAPOOR WAS AT IIM BANGALORE
A few years ago, she received an unusual invitation from the British Council and
the Indian Institute of Management, Bangalore, to speak to a group of young
people undergoing a weeklong management program to become entrepreneurs
for a "creative economy". Chosen on the basis of a national-level competition,
they were to be taken to the U.K. with the idea that if they were to start their
businesses, they should register their companies in the U.K., or raise investment
there.
17
AWARDS OF EKTA KAPOOR
In the short span of her career this young entrepreneur of India has achieved
many awards and civic honors. She was chosen to lead the Confederation of
Indian Industries' (CII) entertainment committee. In the last two years she has
also bagged the Indian Telly Awards. The other awards she received are:
The Society Achiever Award
The Best Entrepreneur of the Year 2001
The 6th Indian Telly Awards 2006
Ekta Kapoor receives Most Outstanding Woman Entrepreneur award

 Asia's Most Powerful Communicator is the very nice award for ekta kapoor
Education of Ekta Kapoor
Ekta Kapoor completed her schooling from Bombay Scottish School. After
completion of schooling, she attended Mithibai College. Since she was not so
interested in academics, her great actor-father Jeetendra advised her to open the
Balaji Television production house. At that time, Ekta was only 19 years of age.
EKTA KAPOOR WAS AT IIM BANGALORE
A few years ago, she received an unusual invitation from the British Council and
the Indian Institute of Management, Bangalore, to speak to a group of young
people undergoing a weeklong management program to become entrepreneurs
for a "creative economy". Chosen on the basis of a national-level competition,
they were to be taken to the U.K. with the idea that if they were to start their
businesses, they should register their companies in the U.K., or raise investment
there.
17
That is when she started tracking the creative economy which is expected to
remain recession-proof and low on carbon footprint. Think of it this way: What
natural resources do you need to set up a girl-band? If four girls got together and
cut an album, it could be a billion dollar industry before anyone knew it, and
countries like the U.K. are seriously pushing such entrepreneurs. In India, it is
time we looked at this new sector consisting of television and video
programming, software games, arts and crafts.
ABOUT HER SERIALS
Ekta Kapoor's serials always says:
" The rich do not need values, the poor do not have time for them. It is middle
class values that my serials are about."
And that is working very fine.

18
That is when she started tracking the creative economy which is expected to
remain recession-proof and low on carbon footprint. Think of it this way: What
natural resources do you need to set up a girl-band? If four girls got together and
cut an album, it could be a billion dollar industry before anyone knew it, and

countries like the U.K. are seriously pushing such entrepreneurs. In India, it is
time we looked at this new sector consisting of television and video
programming, software games, arts and crafts.
ABOUT HER SERIALS
Ekta Kapoor's serials always says:
" The rich do not need values, the poor do not have time for them. It is middle
class values that my serials are about."
And that is working very fine.

18
BACKGROUND OF HER COMPANY
Balaji Telefilms was incorporated in 1994 and has redefined the Indian
television space in this period. Making a strong start with hit shows like Hum
Paanch, the company rose to unprecedented heights in the late 1990s and
2000s.
The satellite boom in India can in a sense be said to have been
created and led by Balaji. The performance of the Hindi television channels
and the dominance of the Hindi General Entertainment Channel was
pioneered by Balaji content and run successfully for over a decade, with
blockbuster shows like Kyunki Saas Bhi Kabhi Bahu Thi and Kahaani Ghar
Ghar Ki garnering unheard of TRPs. The company has produced over
15,000 hours of television content since its inception, including content in
Hindi, Tamil, Telegu, Kannada and Malayalam
Balaji also entered the motion picture business in the late
1990s, producing and distributing a number of films.
Today, the company occupies a dominant space in the
television content creation space, with the No.1 show on Indian television to
its credit and all of its shows among the Top 50 on television. Balaji has also
diversified itself into all the 4 screens by bringing in new teams for the motion
pictures, internet and mobile space. The company has also evolved with the

times and significantly corporatized itself, bringing in a Group CEO and

experienced professional team for driving the future strategic direction of the
company. From a television content provider, we have evolved into a media
conglomerate with organizational divisions responsible for television, motion
pictures, internet and mobile.
19
BACKGROUND OF HER COMPANY
Balaji Telefilms was incorporated in 1994 and has redefined the Indian
television space in this period. Making a strong start with hit shows like Hum
Paanch, the company rose to unprecedented heights in the late 1990s and
2000s.
The satellite boom in India can in a sense be said to have been
created and led by Balaji. The performance of the Hindi television channels
and the dominance of the Hindi General Entertainment Channel was
pioneered by Balaji content and run successfully for over a decade, with
blockbuster shows like Kyunki Saas Bhi Kabhi Bahu Thi and Kahaani Ghar
Ghar Ki garnering unheard of TRPs. The company has produced over
15,000 hours of television content since its inception, including content in
Hindi, Tamil, Telegu, Kannada and Malayalam
Balaji also entered the motion picture business in the late
1990s, producing and distributing a number of films.
Today, the company occupies a dominant space in the
television content creation space, with the No.1 show on Indian television to
its credit and all of its shows among the Top 50 on television. Balaji has also
diversified itself into all the 4 screens by bringing in new teams for the motion
pictures, internet and mobile space. The company has also evolved with the
times and significantly corporatized itself, bringing in a Group CEO and
experienced professional team for driving the future strategic direction of the
company. From a television content provider, we have evolved into a media
conglomerate with organizational divisions responsible for television, motion
pictures, internet and mobile.
19
VISION AND VALUE

Vision
To consistently provide delightful and innovative entertainment experiences by
engaging audiences and nurturing talent
Values
Storytelling
We always delight audiences with our content and the way we deliver it to them
Passion
We go that extra mile because we love what we do
Integrity
We are honest and ethical in all our dealings
Compassion
We care about our people, we listen, we take the initiative to understand what
each one of us wants and work together as a team
Excellence
We push the bar and never settle for second-best

20
VISION AND VALUE
Vision
To consistently provide delightful and innovative entertainment experiences by
engaging audiences and nurturing talent
Values
Storytelling
We always delight audiences with our content and the way we deliver it to them
Passion
We go that extra mile because we love what we do
Integrity
We are honest and ethical in all our dealings

Compassion
We care about our people, we listen, we take the initiative to understand what
each one of us wants and work together as a team
Excellence
We push the bar and never settle for second-best

20
MILESTONES SINCE INCEPTION
From an relaxed 16-year-old to a young entrepreneur running an kingdom
today, Ekta Kapoor has come a lengthy way. The journey wasnt effortless,
but her talent to go all out and attain her dreams has made this promising.
At 16, Ekta Kapoor was like any other teenager looking to go in front a freezing
out life. But soon things altered. Ekta Kapoor got serious about her job and
slowly and steadily set out to achieve her dreams. Ekta Kapoor dreamt big, but
she dreamt the achievable. And she is at present ruling an empire. Ekta has had
her share of ups and downs, but at the end of it all what mattered was her grit to
fulfill her ambitions. Heres her story in her own words...
Those early days were no cakewalk:
She wasnt much of dreamer initially. She started dreaming only when my work
started happening. When She was 16, all she thought about was eating good
food, basically just relaxing. She was like this youngster who was looking to
make around 20,000 a month, so that She could have a happy fun disco-pubbing
lifestyle. When She was 18 they planned their venture. Her dad said this is a big
opportunity and put a lot of money in this company. That was in 1994 that we set
up Balaji Telefilms. The company was losing money because She had made
some pilots and they didnt go on air. Her pilots were ok, not really amazing. Her
first six pilots were were not approved. Money got clogged. Her dads career at
the time was not peaking, they were his last few acting years. Money was
important to us and here She was losing more money. She kept telling herself
What have I done? Im not good for this. Im not good for anything in life.
Coping with insecurities:
She believes that anything that goes up has to come down. But She always
remember what her dad said: This too shall pass. Good, bad, ugly...everything
21
MILESTONES SINCE INCEPTION
From an relaxed 16-year-old to a young entrepreneur running an kingdom
today, Ekta Kapoor has come a lengthy way. The journey wasnt effortless,

but her talent to go all out and attain her dreams has made this promising.
At 16, Ekta Kapoor was like any other teenager looking to go in front a freezing
out life. But soon things altered. Ekta Kapoor got serious about her job and
slowly and steadily set out to achieve her dreams. Ekta Kapoor dreamt big, but
she dreamt the achievable. And she is at present ruling an empire. Ekta has had
her share of ups and downs, but at the end of it all what mattered was her grit to
fulfill her ambitions. Heres her story in her own words...
Those early days were no cakewalk:
She wasnt much of dreamer initially. She started dreaming only when my work
started happening. When She was 16, all she thought about was eating good
food, basically just relaxing. She was like this youngster who was looking to
make around 20,000 a month, so that She could have a happy fun disco-pubbing
lifestyle. When She was 18 they planned their venture. Her dad said this is a big
opportunity and put a lot of money in this company. That was in 1994 that we set
up Balaji Telefilms. The company was losing money because She had made
some pilots and they didnt go on air. Her pilots were ok, not really amazing. Her
first six pilots were were not approved. Money got clogged. Her dads career at
the time was not peaking, they were his last few acting years. Money was
important to us and here She was losing more money. She kept telling herself
What have I done? Im not good for this. Im not good for anything in life.
Coping with insecurities:
She believes that anything that goes up has to come down. But She always
remember what her dad said: This too shall pass. Good, bad, ugly...everything
21
will pass. Although these are strong logics when things happen to you they do
affect you. But life is afterall a lot of experiences put into one. Any kind of
shakeup is an experience that you will cherish all your life. As far as insecurity
goes, She is quite insecure as a person. Her insecurity fuels a sense of
determination, a sense of passion and that passion is what takes you forward.
She try to work on her insecurities and make it work for her. The base is
insecurity.
Means of communication
The Company believes that all stakeholders should have access to adequate
information, regarding the Companys position to enable them to accurately
assess its future potential. In accordance with the applicable guidelines / listing
agreements with the stock exchanges, all information which could have a
material bearing on the Companys share price is released at the earliest. The
Companys financial results were published in Business Standard, Free Press
Journal and Navshakti/Sakal (regional daily). The financial results and official
news
releases
were

displayed
on
the
Companys
web
site
www.balajitelefilms.com. Presentations made to the institutional investors and
analysts are displayed on the Companys website. No such presentations were
made in the current financial year. The Company sends a copy of its half-yearly
results to each shareholder.

22
will pass. Although these are strong logics when things happen to you they do
affect you. But life is afterall a lot of experiences put into one. Any kind of
shakeup is an experience that you will cherish all your life. As far as insecurity
goes, She is quite insecure as a person. Her insecurity fuels a sense of
determination, a sense of passion and that passion is what takes you forward.
She try to work on her insecurities and make it work for her. The base is
insecurity.
Means of communication
The Company believes that all stakeholders should have access to adequate
information, regarding the Companys position to enable them to accurately
assess its future potential. In accordance with the applicable guidelines / listing
agreements with the stock exchanges, all information which could have a
material bearing on the Companys share price is released at the earliest. The
Companys financial results were published in Business Standard, Free Press
Journal and Navshakti/Sakal (regional daily). The financial results and official
news
releases
were
displayed
on
the
Companys
web
site
www.balajitelefilms.com. Presentations made to the institutional investors and
analysts are displayed on the Companys website. No such presentations were
made in the current financial year. The Company sends a copy of its half-yearly

results to each shareholder.

22
Our Brands
Balaji today is a different firm from what it was even one year back. Pioneering
widely different genres of content across several distribution media, the firm has
completely redefined its brand architecture to reflect these far-reaching changes.
The new Balaji logo reflects its fresh new outlook, while still reflecting the core
values it stands for. The Balaji logo will be used for all of its traditional television
content, as well as family-oriented, large scale feature films.
Envisaged as a cutting-edge, youth oriented brand, the Alt Entertainment brand
will be used on all content catering to a younger, more urban demographic,
across the television, movie, mobile and internet space.
Hoonur is our recently-launched online portal for media professionals and
entertainment consumers. The brand will be used in the online and mobile space
both for the entertainment portal and for user generated content.
ICE is the latest initiative of Balaji Telefilms aimed at providing world class quality
education to aspirants wanting to make careers in the Media & Entertainment
industry. ICE covers all major specializations like Acting, Cinematography,
Direction, Editing, Production, Scriptwriting, Sound and Vfx.

23
Our Brands
Balaji today is a different firm from what it was even one year back. Pioneering
widely different genres of content across several distribution media, the firm has
completely redefined its brand architecture to reflect these far-reaching changes.
The new Balaji logo reflects its fresh new outlook, while still reflecting the core
values it stands for. The Balaji logo will be used for all of its traditional television
content, as well as family-oriented, large scale feature films.

Envisaged as a cutting-edge, youth oriented brand, the Alt Entertainment brand

will be used on all content catering to a younger, more urban demographic,
across the television, movie, mobile and internet space.
Hoonur is our recently-launched online portal for media professionals and
entertainment consumers. The brand will be used in the online and mobile space
both for the entertainment portal and for user generated content.
ICE is the latest initiative of Balaji Telefilms aimed at providing world class quality
education to aspirants wanting to make careers in the Media & Entertainment
industry. ICE covers all major specializations like Acting, Cinematography,
Direction, Editing, Production, Scriptwriting, Sound and Vfx.

23

ORGANIZATION STRUCTURE

24

ORGANIZATION STRUCTURE

24
Core-strengths are:
Leading figure in the fastest growing entertainment market: We have refined
the entertainment taste of the nation and become India's leading entertainment
content provider. We have also redefined the business space for the entire
nation.
Targeted Content: We have raised the industry benchmark of content
making with our highly focused and creatively driven projects. Balaji has
emerged, not just as a content provider , but a powerful communicator which
influences how people lead theirs.
Constant Improvisation: Adapting to the ever changing preferences of target
markets, requires improvisation to be a constant and dynamic process.
Continuous innovation and technology upgradation has kept us, always a step
ahead of the times.
Exploring New Vistas: We have maintained our leadership stance only
because of our deep understanding of the industry trends. Thus, we've entered
into newer fields such as non-fiction, reality shows and events as well. We have
entered into the world of motion pictures and succeeded in capturing the
attention of this target segment. The animation industry is another possibility, we
are currently considering.
Strong Management: The overall performance and operation at Balaji is
carried out following stringent management guidelines. The entire business
model has been 'corporatised' with a view of allowing smooth movement of
systems and processes.
25
Core-strengths are:
Leading figure in the fastest growing entertainment market: We have refined
the entertainment taste of the nation and become India's leading entertainment
content provider. We have also redefined the business space for the entire
nation.
Targeted Content: We have raised the industry benchmark of content
making with our highly focused and creatively driven projects. Balaji has

emerged, not just as a content provider , but a powerful communicator which

influences how people lead theirs.
Constant Improvisation: Adapting to the ever changing preferences of target
markets, requires improvisation to be a constant and dynamic process.
Continuous innovation and technology upgradation has kept us, always a step
ahead of the times.
Exploring New Vistas: We have maintained our leadership stance only
because of our deep understanding of the industry trends. Thus, we've entered
into newer fields such as non-fiction, reality shows and events as well. We have
entered into the world of motion pictures and succeeded in capturing the
attention of this target segment. The animation industry is another possibility, we
are currently considering.
Strong Management: The overall performance and operation at Balaji is
carried out following stringent management guidelines. The entire business
model has been 'corporatised' with a view of allowing smooth movement of
systems and processes.
25
2.PRODUCTION DEPARTMENT
Organization structure and all activities
STUDIOS
Set No : 4B Killick Nixion (Dimensions- Area 60 ft X 100 ft
This set has a Huge Furnished haveli with a hall, a Kitchen & three Bedroom with
all property
Set No : 5A Killick Nixion - ( Dimensions: Area 40 ft X 72 ft )
This set has Huge Furnished hall & One Bedroom with all property.
Set No : 7B Killick Nixion ( Dimensions: Area 150 ft X 50
This set has Huge Furnished haveli with a hall, Aangan & Four Bedroom with all
property. The haveli exhibits extravagance of wealth belonging to rural rich,
lavishly furnished with vibrant colors, gilded furniture, classy tapestries, towering
wooden pillars and sprawling staircases all add mood and dimension to the show
and characters.
The similar look and extravagance flows into the rest of the rooms of the house.
The aagan or the courtyard, a prominent feature in every vernacular structure
has been traditionally decorated, with a temple for the pantheon of gods and the
centrum stationing the sacred tulsi plant.
Set No : 4K Killick Nixion ( Dimensions: Area 60 ft X 67 ft)
26
2.PRODUCTION DEPARTMENT

Organization structure and all activities

STUDIOS
Set No : 4B Killick Nixion (Dimensions- Area 60 ft X 100 ft
This set has a Huge Furnished haveli with a hall, a Kitchen & three Bedroom with
all property
Set No : 5A Killick Nixion - ( Dimensions: Area 40 ft X 72 ft )
This set has Huge Furnished hall & One Bedroom with all property.
Set No : 7B Killick Nixion ( Dimensions: Area 150 ft X 50
This set has Huge Furnished haveli with a hall, Aangan & Four Bedroom with all
property. The haveli exhibits extravagance of wealth belonging to rural rich,
lavishly furnished with vibrant colors, gilded furniture, classy tapestries, towering
wooden pillars and sprawling staircases all add mood and dimension to the show
and characters.
The similar look and extravagance flows into the rest of the rooms of the house.
The aagan or the courtyard, a prominent feature in every vernacular structure
has been traditionally decorated, with a temple for the pantheon of gods and the
centrum stationing the sacred tulsi plant.
Set No : 4K Killick Nixion ( Dimensions: Area 60 ft X 67 ft)
26
This set has a Huge Furnished haveli with a hall, & a Bedroom with all property.
Today this set is positioned as an ancient haveli of a feudal lord based in a
village in Gujarat.
The set captures the feel of rich traditional Indian house, the ancestral portraits
adorned on the walls boast about the grandeur and augustness, from the ornate
columns towering high to the checkered floors, from beveled windows to stained
glass doors, from wooden staircases sprawling into the hall to the overlooking
intricate balustrades, all remind you of the colonial architecture and feudal
opulence.
Set No : 2A Killick Nixion (Dimensions: Area)
This set has been especially designed Chawls better known as ghettoes of India,
the look of the set and the props have been designed keeping in mind the
meager means and basic necessities the characters survive on. This set have A
Hall & A kitchen, two bedroom with all property & exterior of chawl building
replicating the old chawls of Girgaum. This set divided into two parts. Other part
called as set no. 2B. It contains A Hall & A kitchen & One Bedroom.
Set No : 2D Killick Nixion (Dimensions: Area 40 ft X 80 ft)

This set have Huge Furnished Wada (Kolhapur style), a hall with Aangan & Two
Bedroom with all property.
The show have Maharashtrian feel. So it get changed to Rich traditional
maharashtrian house.
27
This set has a Huge Furnished haveli with a hall, & a Bedroom with all property.
Today this set is positioned as an ancient haveli of a feudal lord based in a
village in Gujarat.
The set captures the feel of rich traditional Indian house, the ancestral portraits
adorned on the walls boast about the grandeur and augustness, from the ornate
columns towering high to the checkered floors, from beveled windows to stained
glass doors, from wooden staircases sprawling into the hall to the overlooking
intricate balustrades, all remind you of the colonial architecture and feudal
opulence.
Set No : 2A Killick Nixion (Dimensions: Area)
This set has been especially designed Chawls better known as ghettoes of India,
the look of the set and the props have been designed keeping in mind the
meager means and basic necessities the characters survive on. This set have A
Hall & A kitchen, two bedroom with all property & exterior of chawl building
replicating the old chawls of Girgaum. This set divided into two parts. Other part
called as set no. 2B. It contains A Hall & A kitchen & One Bedroom.
Set No : 2D Killick Nixion (Dimensions: Area 40 ft X 80 ft)
This set have Huge Furnished Wada (Kolhapur style), a hall with Aangan & Two
Bedroom with all property.
The show have Maharashtrian feel. So it get changed to Rich traditional
maharashtrian house.
27
Set No : 6 Killick Nixion ( Dimensions:Area 84 * 52 FT)
A traditional looking house the set is revamped to give it a more urbane look for
the chic society, a contemporary circular staircase, bold reds, daring blacks and
soothing white dominate in furniture and geometric motif designs. This set have
Huge Furnished hall with a Kitchen & Four Bedroom with all property.
Disco - (Dimensions: Area 66 * 52 FT)
Welcome to the disco set, with its metallic silvers, psychedelic purple, electronic
blue splash of colors on the dance floor it sets the characters in a perfect mood
to break into a groovy gyrating Bollywood.

Current Productions
TV Series
Original Run
Network Time Slot
Pavitra Rishta
June 1, 2009 Zee TV
Mon - Fri at
Present
9:00 PM IST
Pyaar Kii Ye Ek October 18, 2010 STAR
Mon - Sat at
Kahaani
Present
One
8:30 PM IST
Kitani
Mohabbat November 1, 2010 Imagine
Mon - Fri at
Hai Season 2
Present
TV
8:00 PM IST
(So many past productions also)
28
Set No : 6 Killick Nixion ( Dimensions:Area 84 * 52 FT)
A traditional looking house the set is revamped to give it a more urbane look for
the chic society, a contemporary circular staircase, bold reds, daring blacks and
soothing white dominate in furniture and geometric motif designs. This set have
Huge Furnished hall with a Kitchen & Four Bedroom with all property.
Disco - (Dimensions: Area 66 * 52 FT)
Welcome to the disco set, with its metallic silvers, psychedelic purple, electronic
blue splash of colors on the dance floor it sets the characters in a perfect mood
to break into a groovy gyrating Bollywood.
Current Productions
TV Series
Original Run

Network Time Slot

Pavitra Rishta
June 1, 2009 Zee TV
Mon - Fri at
Present
9:00 PM IST
Pyaar Kii Ye Ek October 18, 2010 STAR
Mon - Sat at
Kahaani
Present
One
8:30 PM IST
Kitani
Mohabbat November 1, 2010 Imagine
Mon - Fri at
Hai Season 2
Present
TV
8:00 PM IST
(So many past productions also)
28
3.HUMAN RESOURCE MANAGEMENT
PRESENT MANPOWER STATUS
Jeetendra Kapoor, Chairman
A popular movie star throughout the 1970s and 1980s, Mr. Kapoor starred in
more than 200 films in a 45 year film career. In his long film career, he won a
number of awards including a Filmfare Lifetime Achievement Award, the Legends
of Cinema Award and the Dadasaheb Phalke Academy Award. Mr. Kapoor has
been the company's Chairman since 2000.

Shobha Kapoor, Managing Director

Mrs. Kapoor has been instrumental in building the company from its small
beginnings in 1994 to India's largest television content company today. From its
inception, Mrs. Kapoor has been hands-on in the operational management of the
company, controlling on set activity, operational efficiency. Given her wealth of

experience, today, she works closely with the Group CEO in helping him
discharge his responsibilities. Her stellar work in creating the Balaji organization
and brand has resulted in a slew of awards, including CEO of the Year (Indian
Telly Awards), Businesswoman of the Year (The Economic Times), and
numerous Best Producer awards for television shows produced by Balaji.

29
3.HUMAN RESOURCE MANAGEMENT
PRESENT MANPOWER STATUS
Jeetendra Kapoor, Chairman
A popular movie star throughout the 1970s and 1980s, Mr. Kapoor starred in
more than 200 films in a 45 year film career. In his long film career, he won a
number of awards including a Filmfare Lifetime Achievement Award, the Legends
of Cinema Award and the Dadasaheb Phalke Academy Award. Mr. Kapoor has
been the company's Chairman since 2000.

Shobha Kapoor, Managing Director

Mrs. Kapoor has been instrumental in building the company from its small
beginnings in 1994 to India's largest television content company today. From its
inception, Mrs. Kapoor has been hands-on in the operational management of the
company, controlling on set activity, operational efficiency. Given her wealth of
experience, today, she works closely with the Group CEO in helping him
discharge his responsibilities. Her stellar work in creating the Balaji organization
and brand has resulted in a slew of awards, including CEO of the Year (Indian
Telly Awards), Businesswoman of the Year (The Economic Times), and
numerous Best Producer awards for television shows produced by Balaji.

29
Ekta Kapoor, Joint Managing Director
Ekta Kapoor has almost single-handedly revamped the television landscape in
India. She pioneered an entire genre of television content, creating among the
most successful shows and heralding the satellite television boom in the country.

Balaji's shows have been channel drivers for broadcasters in India, and even
today, have a place in the top 2 - 3 shows on each channel.
As the creative force behind Balaji's success, Ekta believes in a hands-on
approach to the day-to-day creative direction of each of Balaji's TV shows and
films, routinely putting in 16 - 18 hour work days move with the rapidly .
HUMAN RESOURCE PLANNING
Assistant Manager - HR
Balaji Telefilms Ltd.
Balaji Telefilms Ltd - Mumbai
Media Production industry
June 2008 March 2010 (1 year 10 months)
Responsible for making the organization structures for all departments.
Employee counseling and grievance handling.
Providing inputs for salary and HRIS.
Personal File Maintenance.
Co-ordination with the accounts department for salary and reimbursements.

30
Ekta Kapoor, Joint Managing Director
Ekta Kapoor has almost single-handedly revamped the television landscape in
India. She pioneered an entire genre of television content, creating among the
most successful shows and heralding the satellite television boom in the country.
Balaji's shows have been channel drivers for broadcasters in India, and even
today, have a place in the top 2 - 3 shows on each channel.
As the creative force behind Balaji's success, Ekta believes in a hands-on
approach to the day-to-day creative direction of each of Balaji's TV shows and
films, routinely putting in 16 - 18 hour work days move with the rapidly .
HUMAN RESOURCE PLANNING
Assistant Manager - HR
Balaji Telefilms Ltd.
Balaji Telefilms Ltd - Mumbai
Media Production industry
June 2008 March 2010 (1 year 10 months)

Responsible for making the organization structures for all departments.

Employee counseling and grievance handling.
Providing inputs for salary and HRIS.
Personal File Maintenance.
Co-ordination with the accounts department for salary and reimbursements.

30
REMUNERATION POLICY
The remuneration of the Directors is decided by the Board of Directors as per the
remuneration policy of the Company within the ceiling approved by
shareholders.No performance linked incentives were paid or is payable to the
Managing Director and the Joint Managing Director for the year under review.
Though both Executive and Non-Executive Directors are entitled to commission
@ of 2.5% each, due to insufficient profits none of them were paid any
commission. no remuneration was paid to non-executive directors apart from
sitting fees. Although there is eligibility of commission at fixed rate of 0.80% to
the Chairman and 0.20% of the net profits of the Company computed in
accordance with Sections 349 and 350 of the Companies Act, 1956, to all other
Non-Executive Directors as on date with a ceiling of Rs. 3 lakhs each, no
commission was paid to any director due to insufficient profits. Besides the sitting
fees, rent amounting to Rs. 23.38 lakhs paid to Mr. Jeetendra Kapoor (refer Note
No. B-8 in Schedule 15 Notes on Accounts, annexed to the Financial
Statements of the year), there is no other pecuniary transaction by the Company
with Non-Executive Director

31
REMUNERATION POLICY
The remuneration of the Directors is decided by the Board of Directors as per the
remuneration policy of the Company within the ceiling approved by
shareholders.No performance linked incentives were paid or is payable to the
Managing Director and the Joint Managing Director for the year under review.

Though both Executive and Non-Executive Directors are entitled to commission

@ of 2.5% each, due to insufficient profits none of them were paid any
commission. no remuneration was paid to non-executive directors apart from
sitting fees. Although there is eligibility of commission at fixed rate of 0.80% to
the Chairman and 0.20% of the net profits of the Company computed in
accordance with Sections 349 and 350 of the Companies Act, 1956, to all other
Non-Executive Directors as on date with a ceiling of Rs. 3 lakhs each, no
commission was paid to any director due to insufficient profits. Besides the sitting
fees, rent amounting to Rs. 23.38 lakhs paid to Mr. Jeetendra Kapoor (refer Note
No. B-8 in Schedule 15 Notes on Accounts, annexed to the Financial
Statements of the year), there is no other pecuniary transaction by the Company
with Non-Executive Director

31
4 FINANCE DEPARTMENT
Balance sheet
Mar
' Mar
' Mar
' Mar
' Mar
'
PARTICULARS
10
09
08
07
06
Sources of funds
Owner's fund
Equity share capital
13.04
13.04

13.04
13.04
13.04
Share application money
Preference share capital
Reserves & surplus
388.74
375.84
351.80
291.12
237.43
Loan funds
Secured loans
Unsecured loans
Total
401.78
388.88
364.85
304.16
250.47
32
4 FINANCE DEPARTMENT
Balance sheet

Mar
' Mar
' Mar
' Mar
' Mar
'
PARTICULARS
10
09
08
07
06
Sources of funds
Owner's fund
Equity share capital
13.04
13.04
13.04
13.04
13.04
Share application money
Preference share capital
Reserves & surplus
388.74
375.84
351.80
291.12
237.43
Loan funds
Secured loans
-

Unsecured loans
Total
401.78
388.88
364.85
304.16
250.47
32
Mar
' Mar
' Mar
' Mar
' Mar
'
PARTICULARS
10
09
08
07
06
Uses of funds
Fixed assets
Gross block
148.81
98.14
94.77
77.68
66.95
Less : revaluation reserve
Less : accumulated depreciation
67.50
57.68
50.49
38.10
30.70

Net block
81.31
40.45
44.28
39.58
36.26
Capital work-in-progress
2.90
51.39
17.62
3.83
5.07
Investments
209.79
245.67
249.89
178.76
162.39
Net current assets
Current assets, loans & advances
135.31
92.37
126.26
123.09
108.60
Less : current liabilities & provisions
27.52
41.01
73.21
41.09
61.84
Total net current assets
107.78
51.36
53.05
82.00
46.75
Miscellaneous expenses not written
Total
401.78
388.88

364.85
304.16
250.47
33
Mar
' Mar
' Mar
' Mar
' Mar
'
PARTICULARS
10
09
08
07
06
Uses of funds
Fixed assets
Gross block
148.81
98.14
94.77
77.68
66.95
Less : revaluation reserve
Less : accumulated depreciation
67.50
57.68
50.49
38.10
30.70
Net block
81.31
40.45
44.28
39.58
36.26
Capital work-in-progress
2.90
51.39

17.62
3.83
5.07
Investments
209.79
245.67
249.89
178.76
162.39
Net current assets
Current assets, loans & advances
135.31
92.37
126.26
123.09
108.60
Less : current liabilities & provisions
27.52
41.01
73.21
41.09
61.84
Total net current assets
107.78
51.36
53.05
82.00
46.75
Miscellaneous expenses not written
Total
401.78
388.88
364.85
304.16
250.47
33
Mar
' Mar
' Mar
' Mar

' Mar
'
PARTICULARS
10
09
08
07
06
Notes:

Book value of unquoted investments

209.79
245.67
244.76
178.76
157.25
Market value of quoted investments
5.03
4.98
5.08
Contingent liabilities
5.45
5.70
30.20
2.87
Number of equity sharesoutstanding
(Lacs)
652.10
652.10
652.10
652.10
652.10

34

Mar
' Mar
' Mar
' Mar
' Mar
'
PARTICULARS
10
09
08
07
06
Notes:

Book value of unquoted investments

209.79
245.67
244.76
178.76
157.25
Market value of quoted investments
5.03
4.98
5.08
Contingent liabilities
5.45
5.70
30.20
2.87
Number of equity sharesoutstanding
(Lacs)
652.10
652.10
652.10
652.10
652.10

34
5 MARKETING DEPARTMENT
Punyashlok Bhakta has been appointed as Chief Executive Officer New Media
at the Ekta Kapoor-backed content production house Balaji Telefilms.
Bhakta was previously the Business Head (Consumer Business) and Head of
Marketing at Hungama Digital Media Entertainment Pvt. Ltd where his focus was
on building Hungama.com.
Bhakta has over ten years of experience in marketing, and has worked at
companies such as Asian Paints and LOreal, where he worked on brands like
Garnier and LOreal Paris. His expertise is in brand management with a focus on
communication development and consumer insights.
News of his appointment comes even as the company publicly announced its
intent to sell the new media and training divisions in January 2011. The new
media division of Balaji runs artist hiring portal Hoonur.com and mobile content
production.
During his three year stint at Hungama Digital Media, Bhakta helped build the
consumer business and marketing team from grounds up. As marketing head, he
oversaw brand building and communication for the consumer and B2B brands,
mobile marketing for VAS products, online and social media marketing, insights
and research, as well as corporate communications. Bhakta was also
instrumental in developing and implementing Hungamas pan-India retail
strategy. He also managed international business development and strategic tieups for Hungama with entertainment and sport entities, in collaboration with the
company agent Creative Artists Agency.
Shlok holds an MMS in marketing from Narsee Monjee Institute of Management
Studies and a B. Sc. in Statistics from University of Mumbai.
35
5 MARKETING DEPARTMENT
Punyashlok Bhakta has been appointed as Chief Executive Officer New Media
at the Ekta Kapoor-backed content production house Balaji Telefilms.
Bhakta was previously the Business Head (Consumer Business) and Head of
Marketing at Hungama Digital Media Entertainment Pvt. Ltd where his focus was
on building Hungama.com.
Bhakta has over ten years of experience in marketing, and has worked at
companies such as Asian Paints and LOreal, where he worked on brands like
Garnier and LOreal Paris. His expertise is in brand management with a focus on
communication development and consumer insights.
News of his appointment comes even as the company publicly announced its
intent to sell the new media and training divisions in January 2011. The new
media division of Balaji runs artist hiring portal Hoonur.com and mobile content
production.

During his three year stint at Hungama Digital Media, Bhakta helped build the
consumer business and marketing team from grounds up. As marketing head, he
oversaw brand building and communication for the consumer and B2B brands,
mobile marketing for VAS products, online and social media marketing, insights
and research, as well as corporate communications. Bhakta was also
instrumental in developing and implementing Hungamas pan-India retail
strategy. He also managed international business development and strategic tieups for Hungama with entertainment and sport entities, in collaboration with the
company agent Creative Artists Agency.
Shlok holds an MMS in marketing from Narsee Monjee Institute of Management
Studies and a B. Sc. in Statistics from University of Mumbai.
35
Corporate Announcements
The company is battling a notice from sales tax authorities for an aggregate
amount of Rs. 223.63 crores (including interest and penalty) pertaining to sales
tax for the financial Years 2000-2001 to 2004-2005. It had previously received a
show cause cum demand notice from the Commissioner of Sales Tax in Mumbai
for Rs. 2897.74 lakhs for sales tax in 2008-09 and 2009-10 on exports made to a
customer. It had also received another notice for Rs 403.12 lakhs for service tax
for the years 2006-07 and 2009-10.
Net profit for the quarter ended December 2010 declined to Rs. 121.46 lakhs
from Rs. 181.54 lakhs in the same quarter in 2009 but has increased quarter on
quarter from a net loss recorded of Rs. 640 lakhs.
Meanwhile, subsidiary Balaji Motion Pictures paranormal/ romantic movie Ragini
MMS is slated for release. The company also plans to release its maiden
Marathi film this year, marking its first foray into regional cinema.

36
Corporate Announcements
The company is battling a notice from sales tax authorities for an aggregate
amount of Rs. 223.63 crores (including interest and penalty) pertaining to sales
tax for the financial Years 2000-2001 to 2004-2005. It had previously received a
show cause cum demand notice from the Commissioner of Sales Tax in Mumbai
for Rs. 2897.74 lakhs for sales tax in 2008-09 and 2009-10 on exports made to a
customer. It had also received another notice for Rs 403.12 lakhs for service tax
for the years 2006-07 and 2009-10.
Net profit for the quarter ended December 2010 declined to Rs. 121.46 lakhs
from Rs. 181.54 lakhs in the same quarter in 2009 but has increased quarter on

quarter from a net loss recorded of Rs. 640 lakhs.

Meanwhile, subsidiary Balaji Motion Pictures paranormal/ romantic movie Ragini
MMS is slated for release. The company also plans to release its maiden
Marathi film this year, marking its first foray into regional cinema.

36
SWOT ANALYSIS
Strengths
Strong creative team: The companys serials accounted for 79% of the
aggregate TRP of the weekday prime time shows featuring in the top 100
Hindi cable and satellite shows. Being the leader in the Hindi mass
entertainment space, accounting for more than 40 of the top 100
programmes, some of its popular serials have been on air for years now
but still dominate the TRP ratings. Balaji has also been very successful in
regional programming.
Low overheads: Balajis budgeting discipline is responsible for a strict
control of costs. The budgeting discipline has the following priorities. Each
programme is appraised as a profit center and costs are compared with
the budgeted target across every episode, artiste, location, and people
expenses. Secondly, project life cycle management comprises of a holistic
perspective of shooting schedules, scene wise artiste requirements,
ongoing shooting progress and final product delivery before shooting
commences.Balaji has two state of the art post production suites, which
accelerates the conversion of recorded material into episodes and
enhances the flexibility to review the produced content with the objective
of revision and improvement.
Weaknesses
Over dependence on key personnel: Ekta Kapoor is the creative
director of Balaji and is chiefly responsible for the companys success.
Although Balaji has a proper structured creative team in place, it still
heavily depends on Ekta Kapoor. Balaji Telefilms evinces a lot of interest
from aspiring actors who are eager to work with it. Initially the company
doesnt have to pay high fees to these aspiring stars. However if any of
37
SWOT ANALYSIS
Strengths
Strong creative team: The companys serials accounted for 79% of the

aggregate TRP of the weekday prime time shows featuring in the top 100
Hindi cable and satellite shows. Being the leader in the Hindi mass
entertainment space, accounting for more than 40 of the top 100
programmes, some of its popular serials have been on air for years now
but still dominate the TRP ratings. Balaji has also been very successful in
regional programming.
Low overheads: Balajis budgeting discipline is responsible for a strict
control of costs. The budgeting discipline has the following priorities. Each
programme is appraised as a profit center and costs are compared with
the budgeted target across every episode, artiste, location, and people
expenses. Secondly, project life cycle management comprises of a holistic
perspective of shooting schedules, scene wise artiste requirements,
ongoing shooting progress and final product delivery before shooting
commences.Balaji has two state of the art post production suites, which
accelerates the conversion of recorded material into episodes and
enhances the flexibility to review the produced content with the objective
of revision and improvement.
Weaknesses
Over dependence on key personnel: Ekta Kapoor is the creative
director of Balaji and is chiefly responsible for the companys success.
Although Balaji has a proper structured creative team in place, it still
heavily depends on Ekta Kapoor. Balaji Telefilms evinces a lot of interest
from aspiring actors who are eager to work with it. Initially the company
doesnt have to pay high fees to these aspiring stars. However if any of
37
their actors becomes very popular then high fees have to be paid to them.
Besides this the popularity of the serial hinges on the performance of
these key actors to some extent and their exit can hurt the TRPs of the
show.
Difficult to sustain success: Balajis programmes accounted for 79% of
the aggregate TRP of the weekday prime time shows featuring in the top
100 Hindi cable and satellite shows. The tastes of the viewers are fickle
and it will be very difficult for Balaji to sustain these high TRPs leave
alone improving them. Thus Balajis impressive track record may prove to
be its bane in the future.
Lack of scalability: Production of entertainment software is not a very
scalable business. The channels that Balaji services are limited in number.
Besides, talented directors, technicians, artistes required for expanding
operations are not easily available. Most of the other production houses
produce only one or two serials at a time finding it very difficult to scale up
their level of operations.
Opportunities
Growth opportunities: The penetration of television sets and cable TV is
very low in India. It is expected to increase due to the rise in incomes and
a decline in the prices of television. Digitalization (CAS and DTH services)

will increase cable penetration from 70 m homes in 2006 to around 113 m

homes by 2011. The Indian television industry had a market size of US$
3.24 bn in 2005 and is expected to reach US$ 9.34 bn by 2010, a CAGR
of 24%. Advertisement spending in India is directly linked to the growth in
GDP. In view of the countrys projected GDP growth, the countrys TV
advertising market is expected to grow from Rs 66 bn in 2006 to Rs 123
bn by 2011.
Entry of new players in the Hindi General entertainment space: The
Hindi general entertainment space will get more competitive with the entry
of NDTV, UTV, INX Media. The broadcasters would try to maintain or
38
their actors becomes very popular then high fees have to be paid to them.
Besides this the popularity of the serial hinges on the performance of
these key actors to some extent and their exit can hurt the TRPs of the
show.
Difficult to sustain success: Balajis programmes accounted for 79% of
the aggregate TRP of the weekday prime time shows featuring in the top
100 Hindi cable and satellite shows. The tastes of the viewers are fickle
and it will be very difficult for Balaji to sustain these high TRPs leave
alone improving them. Thus Balajis impressive track record may prove to
be its bane in the future.
Lack of scalability: Production of entertainment software is not a very
scalable business. The channels that Balaji services are limited in number.
Besides, talented directors, technicians, artistes required for expanding
operations are not easily available. Most of the other production houses
produce only one or two serials at a time finding it very difficult to scale up
their level of operations.
Opportunities
Growth opportunities: The penetration of television sets and cable TV is
very low in India. It is expected to increase due to the rise in incomes and
a decline in the prices of television. Digitalization (CAS and DTH services)
will increase cable penetration from 70 m homes in 2006 to around 113 m
homes by 2011. The Indian television industry had a market size of US$
3.24 bn in 2005 and is expected to reach US$ 9.34 bn by 2010, a CAGR
of 24%. Advertisement spending in India is directly linked to the growth in
GDP. In view of the countrys projected GDP growth, the countrys TV
advertising market is expected to grow from Rs 66 bn in 2006 to Rs 123
bn by 2011.
Entry of new players in the Hindi General entertainment space: The
Hindi general entertainment space will get more competitive with the entry
of NDTV, UTV, INX Media. The broadcasters would try to maintain or
38
increase their market share by improving their quality of content. Thus the
broadcasters expenditure on content would increase. INX media has

requisitioned Balaji to produce a couple of shows for it. Balajis

programming hours would increase as well as its realisations per hour
should also continue to increase in the future.
Threats
Plummeting share of mass entertainment: Balaji has produced many
successful serials in the mass entertainment genre. However, it has not
been very successful in other programme genres such as comedy shows,
reality shows, music contests that are getting increasingly popular and are
telecast on prime time. In fact, the share of mass entertainment channels
in terms of viewership and revenues is reducing (as seen from the table
below). If this trend amplifies in the future, then it can adversely affect the
profits of Balaji.
FUTURE OUTLOOK
Future strategies
Corporate Level
Grow beyond being a television content provider
Further strengthen the professional identity
De-risk and Diversify Revenue Model (channels,
regional programming, other business divisions)
Establish ALT and Hoonur as recognized brands
Expand management bandwidth

39
increase their market share by improving their quality of content. Thus the
broadcasters expenditure on content would increase. INX media has
requisitioned Balaji to produce a couple of shows for it. Balajis
programming hours would increase as well as its realisations per hour
should also continue to increase in the future.
Threats
Plummeting share of mass entertainment: Balaji has produced many
successful serials in the mass entertainment genre. However, it has not
been very successful in other programme genres such as comedy shows,
reality shows, music contests that are getting increasingly popular and are
telecast on prime time. In fact, the share of mass entertainment channels
in terms of viewership and revenues is reducing (as seen from the table
below). If this trend amplifies in the future, then it can adversely affect the
profits of Balaji.
FUTURE OUTLOOK
Future strategies
Corporate Level
Grow beyond being a television content provider
Further strengthen the professional identity
De-risk and Diversify Revenue Model (channels,

 regional programming, other business divisions)

Establish ALT and Hoonur as recognized brands
Expand management bandwidth

39
SUMMARY
EKTA KAPOOR is a smart woman with a definite agenda and has also
been appropriately termed as Asis most powerful communicator and the
lady no.1 in Hindi serials and movies. As the creative director of Balaji
Telefilms in Mumbai, Ekta continues to produce absorbing dramas - whether
about an ambitious tycoon or a charismatic but scheming wife or a 70-yearold grandmother looking for a job - that consistently strikes a chord with
viewers across the subcontinent.

40
SUMMARY
EKTA KAPOOR is a smart woman with a definite agenda and has also
been appropriately termed as Asis most powerful communicator and the
lady no.1 in Hindi serials and movies. As the creative director of Balaji
Telefilms in Mumbai, Ekta continues to produce absorbing dramas - whether
about an ambitious tycoon or a charismatic but scheming wife or a 70-yearold grandmother looking for a job - that consistently strikes a chord with
viewers across the subcontinent.

40

2. Indra Nooyi
( Chief Executive
designate, Pepsi Co.)

41

2. Indra Nooyi
( Chief Executive
designate, Pepsi Co.)

41
GENERAL INFORMATION
ABOUT INDRA NOOYI

Indra Krishnamurthy Nooyi is her full name and she belongs to the Southern
Indian city of Chennai. She was born in 28 October 1955 in Madras, now
Chennai. She has done her graduation from Madras Christian College (MCC) in
Chemistry, Physics and Math. On completion of her graduation she went to
Indian Institute of Management in Calcutta for doing Masters in Finance and
Marketing. Soon after completion of her MBA she joined ABB and then Johnson
and Johnson (J&J) in Mumbai. One of her achievement with J&J is her close
association with launch of the sanitary napkin Stayfree. From there she has been
no stopping her life.
However, her career profile was not satiating her wishes to do more in life and
she persuaded her parent to let her study at Yale Management School in US.
She completed her Masters in Public and Private Management from Yale. Here
in US before landing in the Pepsi in 1994, she had worked with Boston
Consulting Group and Motorola. Indra coaxed the CEO Roger Enrico of the
Pepsi to follow-up the companys restaurant division, including brands such KFC,
Pizza Hut and Taco Bell, as the chief strategy officer.
Her quick decision making ability and sticking to the work until its got
accomplished has drawn this comment. If she gets an idea, she goes after it.
Theres no stopping her.? No doubt her firmness and go getting attitude has won
her laurels in the company and this helped her to build a strong foundation in the
career graph to reach the top echelons in the organization where many people
just day dream to reach.
42
GENERAL INFORMATION
ABOUT INDRA NOOYI
Indra Krishnamurthy Nooyi is her full name and she belongs to the Southern
Indian city of Chennai. She was born in 28 October 1955 in Madras, now
Chennai. She has done her graduation from Madras Christian College (MCC) in
Chemistry, Physics and Math. On completion of her graduation she went to
Indian Institute of Management in Calcutta for doing Masters in Finance and
Marketing. Soon after completion of her MBA she joined ABB and then Johnson
and Johnson (J&J) in Mumbai. One of her achievement with J&J is her close
association with launch of the sanitary napkin Stayfree. From there she has been
no stopping her life.
However, her career profile was not satiating her wishes to do more in life and
she persuaded her parent to let her study at Yale Management School in US.
She completed her Masters in Public and Private Management from Yale. Here
in US before landing in the Pepsi in 1994, she had worked with Boston
Consulting Group and Motorola. Indra coaxed the CEO Roger Enrico of the
Pepsi to follow-up the companys restaurant division, including brands such KFC,
Pizza Hut and Taco Bell, as the chief strategy officer.
Her quick decision making ability and sticking to the work until its got
accomplished has drawn this comment. If she gets an idea, she goes after it.

Theres no stopping her.? No doubt her firmness and go getting attitude has won
her laurels in the company and this helped her to build a strong foundation in the
career graph to reach the top echelons in the organization where many people
just day dream to reach.
42
Why did we take Ms. Indra Krishnamurthy Nooyi?
She is the only Indian woman to become the Chief Executive Officer of the more
$ 25 Billion Multinational, and perhaps the first Indian to reach to this level. As of
now she has been deliberately being used so as to see more and more Indian
transcendent to that level in future. For Ms. Indra this has been a both tough and
exciting experience. As she has said in her own word that being a woman,
immigrant and colour made it thrice difficult for her to reach to this destination,
but only mantra which she followed during the course of time was working hard
twice as the male counterpart.
What position is Ms. Indra nooyi now in pepsico?
Ms.INDRA K. NOOYI, 55, has been PepsiCos Chief Executive Officer since
2006 and assumed the role of Chairman of PepsiCos Board of Directors in 2007.
She was elected to PepsiCos Board of Directors and became President and
Chief Financial Officer in 2001, after serving as Senior Vice President and Chief
Financial Officer since 2000. Ms. Nooyi also served as PepsiCos Senior Vice
President, Corporate Strategy and Development from 1996 until 2000, and as
PepsiCos Senior Vice President, Strategic Planning from 1994 until 1996.
What are the process of coming that CEO position?
Prior to becoming CEO, Mrs. Nooyi served as president and chief financial officer
beginning in 2001, when she was also named to PepsiCo's Board of Directors. In
this position, she was responsible for PepsiCo's corporate functions, including
finance, strategy, business process optimization, corporate platforms and
innovation, procurement, investor relations, and information technology. Between
February 2000 and April 2001, Mrs. Nooyi was senior vice president and chief
43
Why did we take Ms. Indra Krishnamurthy Nooyi?
She is the only Indian woman to become the Chief Executive Officer of the more
$ 25 Billion Multinational, and perhaps the first Indian to reach to this level. As of
now she has been deliberately being used so as to see more and more Indian
transcendent to that level in future. For Ms. Indra this has been a both tough and
exciting experience. As she has said in her own word that being a woman,
immigrant and colour made it thrice difficult for her to reach to this destination,
but only mantra which she followed during the course of time was working hard
twice as the male counterpart.

What position is Ms. Indra nooyi now in pepsico?

Ms.INDRA K. NOOYI, 55, has been PepsiCos Chief Executive Officer since
2006 and assumed the role of Chairman of PepsiCos Board of Directors in 2007.
She was elected to PepsiCos Board of Directors and became President and
Chief Financial Officer in 2001, after serving as Senior Vice President and Chief
Financial Officer since 2000. Ms. Nooyi also served as PepsiCos Senior Vice
President, Corporate Strategy and Development from 1996 until 2000, and as
PepsiCos Senior Vice President, Strategic Planning from 1994 until 1996.
What are the process of coming that CEO position?
Prior to becoming CEO, Mrs. Nooyi served as president and chief financial officer
beginning in 2001, when she was also named to PepsiCo's Board of Directors. In
this position, she was responsible for PepsiCo's corporate functions, including
finance, strategy, business process optimization, corporate platforms and
innovation, procurement, investor relations, and information technology. Between
February 2000 and April 2001, Mrs. Nooyi was senior vice president and chief
43
financial officer of PepsiCo. Between 1996 and 1999, Mrs. Nooyi was senior vice
president of corporate strategy and development.
Before joining PepsiCo in 1994, Mrs. Nooyi spent four years as senior vice
president of strategy and strategic marketing for Asea Brown Boveri, a Zurichbased industrials company. She was part of the top management team
responsible for the company's U.S. business as well as its worldwide industrial
businesses, representing about $10 billion of ABB's $30 billion in global sales.
Between 1986 and 1990, Mrs. Nooyi worked for Motorola, where she was vice
president and director of corporate strategy and planning, having joined the
company as the business development executive for its automotive and industrial
electronic group. Prior to Motorola, she spent six years directing international
corporate strategy projects at the Boston Consulting Group. Her clients ranged
from textiles and consumer goods companies to retailers and specialty chemicals
producers. Mrs. Nooyi began her career in India, where she held product
manager positions at Johnson & Johnson and at Mettur Beardsell, Ltd., a textile
firm.
Who are the persons behind Ms. Indra Nooyi
In fact, standing up for what she believed in is a quality that Nooyi inherited from
her mother. Along with sister Chandrika, who went on to work at the Citibank, the
World Bank, the New York Universitys Stern School of Business and then set up
Tandon Associates, the Krishnamurthy girls were honed in on the art of
leadership at a very young age.
In her childhood Every night after dinner, her mother used to ask them to make
speak on what they wanted to do when they grew up also make them to compete
to solve it as if they were a President or Prime Minister and the winner was
awarded a piece of chocolate.
44

financial officer of PepsiCo. Between 1996 and 1999, Mrs. Nooyi was senior vice
president of corporate strategy and development.
Before joining PepsiCo in 1994, Mrs. Nooyi spent four years as senior vice
president of strategy and strategic marketing for Asea Brown Boveri, a Zurichbased industrials company. She was part of the top management team
responsible for the company's U.S. business as well as its worldwide industrial
businesses, representing about $10 billion of ABB's $30 billion in global sales.
Between 1986 and 1990, Mrs. Nooyi worked for Motorola, where she was vice
president and director of corporate strategy and planning, having joined the
company as the business development executive for its automotive and industrial
electronic group. Prior to Motorola, she spent six years directing international
corporate strategy projects at the Boston Consulting Group. Her clients ranged
from textiles and consumer goods companies to retailers and specialty chemicals
producers. Mrs. Nooyi began her career in India, where she held product
manager positions at Johnson & Johnson and at Mettur Beardsell, Ltd., a textile
firm.
Who are the persons behind Ms. Indra Nooyi
In fact, standing up for what she believed in is a quality that Nooyi inherited from
her mother. Along with sister Chandrika, who went on to work at the Citibank, the
World Bank, the New York Universitys Stern School of Business and then set up
Tandon Associates, the Krishnamurthy girls were honed in on the art of
leadership at a very young age.
In her childhood Every night after dinner, her mother used to ask them to make
speak on what they wanted to do when they grew up also make them to compete
to solve it as if they were a President or Prime Minister and the winner was
awarded a piece of chocolate.
44
About her husband she says "He helps me. He supports me. He's a man with a
big heart,"
Why she get success?
She began her discourse with the exhortation that there are no limits to what you
can do, but cautioned the audience not to let others define the concept of
success for them, adding, not even me. In Indra Nooyis regard, success isnt
money, prestige, or power because net worth can never define self worth. True
success is being happy with yourself, is being fulfilled. And that comes from
devoting your time, your life, to doing what you love the most.
The core of the concept of success lies in knowing what you want to do in life
and those who have triumphed at figuring out that issue should consider
themselves tremendously blessed, she explained. Such advice does not seem
simplistic, coming from a business leader with verve, like Indra Nooyi, who
reportedly balances and blends her corporate role with her other talents that
include playing the guitar and singing, skills that she presumably developed as
part of an all-girl rock band while attending college in India.
Finally she explained that the three critical pillars of success are, family, friends

and faith, she said, when things look bleak and uncertain, its your family,
friends and faith that pull you through.And when Im wrestling with change in
my life, good or bad, the first place I turn to, is my religion. I tell you, it really
helps.

45
About her husband she says "He helps me. He supports me. He's a man with a
big heart,"
Why she get success?
She began her discourse with the exhortation that there are no limits to what you
can do, but cautioned the audience not to let others define the concept of
success for them, adding, not even me. In Indra Nooyis regard, success isnt
money, prestige, or power because net worth can never define self worth. True
success is being happy with yourself, is being fulfilled. And that comes from
devoting your time, your life, to doing what you love the most.
The core of the concept of success lies in knowing what you want to do in life
and those who have triumphed at figuring out that issue should consider
themselves tremendously blessed, she explained. Such advice does not seem
simplistic, coming from a business leader with verve, like Indra Nooyi, who
reportedly balances and blends her corporate role with her other talents that
include playing the guitar and singing, skills that she presumably developed as
part of an all-girl rock band while attending college in India.
Finally she explained that the three critical pillars of success are, family, friends
and faith, she said, when things look bleak and uncertain, its your family,
friends and faith that pull you through.And when Im wrestling with change in
my life, good or bad, the first place I turn to, is my religion. I tell you, it really
helps.

45
Ms.Indra nooyis education
School : Holy Angels School, Chennai
College
:
* Bachelor's degree (Chemistry, Physics, Maths) from Madras Christian College,
Chennai
(1974).
* Master's Degree in Finance and Marketing from the Indian Institute of
Management
in

Calcutta
(1976).
* Master's Degree in Public and Private Management from Yale University's
School of Organization and Management (1978).
Leadership qualities of Ms. Nooyi
Vision
Dedication
Assertiveness
Creativity

46
Ms.Indra nooyis education
School : Holy Angels School, Chennai
College
:
* Bachelor's degree (Chemistry, Physics, Maths) from Madras Christian College,
Chennai
(1974).
* Master's Degree in Finance and Marketing from the Indian Institute of
Management
in
Calcutta
(1976).
* Master's Degree in Public and Private Management from Yale University's
School of Organization and Management (1978).
Leadership qualities of Ms. Nooyi
Vision
Dedication
Assertiveness
Creativity

46
BACKGROUND OF THE COMPANY
PepsiCo, Incorporated (NYSE: PEP) is a Fortune 500, American global
corporation headquartered in Purchase, Harrison, New York, with interests in the
manufacturing, marketing and distribution of grain-based snack foods,
beverages, and other products. PepsiCo was formed in 1965 with the merger of
the Pepsi-Cola Company and Frito-Lay, Inc. PepsiCo has since expanded from
its namesake product Pepsi to a broader range of food and beverage brands, the
largest of which include an acquisition of Tropicana in 1998 and a merger with
Quaker Oats in 2001 - which added the Gatorade brand to its portfolio as well.
As of 2009, 19 of PepsiCo's product lines generated retail sales of more than $1
billion each,and the companys products were distributed across more than 200
countries, resulting in annual net revenues of $43.3 billion. Based on net
revenue, PepsiCo is the second largest food & beverage business in the world.
Within North America, PepsiCo is ranked (by net revenue) as the largest food
and beverage business.
Indra Krishnamurthy Nooyi has been the chief executive of PepsiCo since 2006,
and the company employed approximately 285,000 people worldwide as of
2010.The companys beverage distribution and bottling is conducted by PepsiCo
as well as by licensed bottlers in certain regions.PepsiCo is a SIC 2080
(beverage) company.

47
BACKGROUND OF THE COMPANY
PepsiCo, Incorporated (NYSE: PEP) is a Fortune 500, American global
corporation headquartered in Purchase, Harrison, New York, with interests in the
manufacturing, marketing and distribution of grain-based snack foods,
beverages, and other products. PepsiCo was formed in 1965 with the merger of
the Pepsi-Cola Company and Frito-Lay, Inc. PepsiCo has since expanded from
its namesake product Pepsi to a broader range of food and beverage brands, the
largest of which include an acquisition of Tropicana in 1998 and a merger with
Quaker Oats in 2001 - which added the Gatorade brand to its portfolio as well.
As of 2009, 19 of PepsiCo's product lines generated retail sales of more than $1
billion each,and the companys products were distributed across more than 200
countries, resulting in annual net revenues of $43.3 billion. Based on net
revenue, PepsiCo is the second largest food & beverage business in the world.
Within North America, PepsiCo is ranked (by net revenue) as the largest food
and beverage business.
Indra Krishnamurthy Nooyi has been the chief executive of PepsiCo since 2006,
and the company employed approximately 285,000 people worldwide as of

2010.The companys beverage distribution and bottling is conducted by PepsiCo

as well as by licensed bottlers in certain regions.PepsiCo is a SIC 2080
(beverage) company.

47
Pepsicos Mission and Vision
At PepsiCo, they believe being a responsible corporate citizen is not only the
right thing to do, but the right thing to do for our business.
Mission
Our mission is to be the world's premier consumer products company focused on
convenient foods and beverages. We seek to produce financial rewards to
investors as we provide opportunities for growth and enrichment to our
employees, our business partners and the communities in which we operate. And
in everything we do, we strive for honesty, fairness and integrity.
Vision
"PepsiCo's responsibility is to continually improve all aspects of the world in
which we operate - environment, social, economic - creating a better tomorrow
than today."
Our vision is put into action through programs and a focus on environmental
stewardship, activities to benefit society, and a commitment to build shareholder
value by making PepsiCo a truly sustainable company.
Performance with Purpose
At PepsiCo, we're committed to achieving business and financial success while
leaving a positive imprint on society - delivering what we call Performance with
Purpose .
Our approach to superior financial performance is straightforward - drive
shareholder value. By addressing social and environmental issues, we also
deliver on our purpose agenda, which consists of human, environmental, and
talent sustainability.
48
Pepsicos Mission and Vision
At PepsiCo, they believe being a responsible corporate citizen is not only the
right thing to do, but the right thing to do for our business.
Mission
Our mission is to be the world's premier consumer products company focused on
convenient foods and beverages. We seek to produce financial rewards to
investors as we provide opportunities for growth and enrichment to our
employees, our business partners and the communities in which we operate. And
in everything we do, we strive for honesty, fairness and integrity.
Vision

"PepsiCo's responsibility is to continually improve all aspects of the world in

which we operate - environment, social, economic - creating a better tomorrow
than today."
Our vision is put into action through programs and a focus on environmental
stewardship, activities to benefit society, and a commitment to build shareholder
value by making PepsiCo a truly sustainable company.
Performance with Purpose
At PepsiCo, we're committed to achieving business and financial success while
leaving a positive imprint on society - delivering what we call Performance with
Purpose .
Our approach to superior financial performance is straightforward - drive
shareholder value. By addressing social and environmental issues, we also
deliver on our purpose agenda, which consists of human, environmental, and
talent sustainability.
48
PepsiCo Values & Philosophy
Our Values & Philosophy are a reflection of the socially and environmentally
responsible company we aspire to be. They are the foundation for every
business decision we make.
Competition
The Coca-Cola Company has historically been considered PepsiCos primary
competitor in the beverage market,and in December 2005, PepsiCo surpassed
The Coca-Cola Company in market value for the first time in 112 years since
both companies began to compete. In 2009, the Coca-Cola Company held a
higher market share in carbonated soft drink sales within the U.S.In the same
year, PepsiCo maintained a higher share of the U.S. refreshment beverage
market, however, reflecting the differences in product lines between the two
companies.As a result of mergers, acquisitions and partnerships pursued by
PepsiCo in the 1990s and 2000s, its business has shifted to include a broader
product base, including foods, snacks and beverages. The majority of PepsiCo's
revenues no longer come from the production and sale of carbonated soft drinks
Beverages accounted for less than 50 percent of its total revenue in 2009. In the
same year, slightly more than 60 percent of PepsiCo's beverage sales came from
its primary non-carbonated brands, namely Gatorade and Tropicana
PepsiCo's Frito-Lay and Quaker Oats brands hold a significant share of the U.S.
snack food market, accounting for approximately 39 percent of U.S. snack food
sales in 2009] One of PepsiCo's primary competitors in the snack food market
overall is Kraft Foods, which in the same year held 11 percent of the U.S. snack
market share.
49
PepsiCo Values & Philosophy
Our Values & Philosophy are a reflection of the socially and environmentally

responsible company we aspire to be. They are the foundation for every
business decision we make.
Competition
The Coca-Cola Company has historically been considered PepsiCos primary
competitor in the beverage market,and in December 2005, PepsiCo surpassed
The Coca-Cola Company in market value for the first time in 112 years since
both companies began to compete. In 2009, the Coca-Cola Company held a
higher market share in carbonated soft drink sales within the U.S.In the same
year, PepsiCo maintained a higher share of the U.S. refreshment beverage
market, however, reflecting the differences in product lines between the two
companies.As a result of mergers, acquisitions and partnerships pursued by
PepsiCo in the 1990s and 2000s, its business has shifted to include a broader
product base, including foods, snacks and beverages. The majority of PepsiCo's
revenues no longer come from the production and sale of carbonated soft drinks
Beverages accounted for less than 50 percent of its total revenue in 2009. In the
same year, slightly more than 60 percent of PepsiCo's beverage sales came from
its primary non-carbonated brands, namely Gatorade and Tropicana
PepsiCo's Frito-Lay and Quaker Oats brands hold a significant share of the U.S.
snack food market, accounting for approximately 39 percent of U.S. snack food
sales in 2009] One of PepsiCo's primary competitors in the snack food market
overall is Kraft Foods, which in the same year held 11 percent of the U.S. snack
market share.
49
Products and brands
PepsiCos product mix as of 2009 (based on worldwide net revenue) consists of
63 percent foods, and 37 percent beverages.On a worldwide basis, the
companys current products lines include several hundred brands that in 2009
were estimated to have generated approximately $108 billion in cumulative
annual retail sales
The primary identifier of companies' main brands within the food and beverage
industry are those which generate annual sales exceeding $1 billion, and 19 of
PepsiCo's brands met this description as of 2009: Pepsi-Cola, Mountain Dew,
Lay's, Gatorade, Tropicana, 7Up, Doritos, Lipton Teas, Quaker Foods,
Cheetos, Mirinda, Ruffles, Aquafina, Pepsi Max, Tostitos, Sierra Mist,
Fritos, and Walker's.
Areas of business
The structure of PepsiCo's global operations has shifted multiple times in its
history as a result of international expansion, and as of 2010 it is separated into
four main divisions PepsiCo Americas Foods, PepsiCo Americas Beverages,
PepsiCo Europe, and PepsiCo Asia, Middle East and Africa. As of 2009, 71
percent of the companys net revenues came from North and South America, 16
percent from Europe and 13 percent from Asia, the Middle East and Africa.

50
Products and brands
PepsiCos product mix as of 2009 (based on worldwide net revenue) consists of
63 percent foods, and 37 percent beverages.On a worldwide basis, the
companys current products lines include several hundred brands that in 2009
were estimated to have generated approximately $108 billion in cumulative
annual retail sales
The primary identifier of companies' main brands within the food and beverage
industry are those which generate annual sales exceeding $1 billion, and 19 of
PepsiCo's brands met this description as of 2009: Pepsi-Cola, Mountain Dew,
Lay's, Gatorade, Tropicana, 7Up, Doritos, Lipton Teas, Quaker Foods,
Cheetos, Mirinda, Ruffles, Aquafina, Pepsi Max, Tostitos, Sierra Mist,
Fritos, and Walker's.
Areas of business
The structure of PepsiCo's global operations has shifted multiple times in its
history as a result of international expansion, and as of 2010 it is separated into
four main divisions PepsiCo Americas Foods, PepsiCo Americas Beverages,
PepsiCo Europe, and PepsiCo Asia, Middle East and Africa. As of 2009, 71
percent of the companys net revenues came from North and South America, 16
percent from Europe and 13 percent from Asia, the Middle East and Africa.

50
Our Goals and Commitments
Products
Provide more food and beverage choices made with wholesome ingredients that
contribute to healthier eating and drinking.
increase the amount of whole grains, fruits, vegetables, nuts, seeds and
low-fat dairy in our global product portfolio.
reduce the average amount of sodium per serving in key global food
brands by 25 percent.
reduce the average amount of saturated fat per serving in key global

food brands by 15 percent.

reduce the average amount of added sugar per serving in key global
beverage brands by 25 percent.
Marketplace
To encourage people to make informed choices and live healthier.
display calorie count and key nutrients on our food and beverage
packaging by 2012.
advertise to children under 12 only products that meet our global
science-based nutrition standards.
eliminate the direct sale of full-sugar soft drinks in primary and secondary
schools around the globe by 2012.
increase the range of foods and beverages that offer solutions for
managing calories, like portion sizes.

51
Our Goals and Commitments
Products
Provide more food and beverage choices made with wholesome ingredients that
contribute to healthier eating and drinking.
increase the amount of whole grains, fruits, vegetables, nuts, seeds and
low-fat dairy in our global product portfolio.
reduce the average amount of sodium per serving in key global food
brands by 25 percent.
reduce the average amount of saturated fat per serving in key global
food brands by 15 percent.
reduce the average amount of added sugar per serving in key global
beverage brands by 25 percent.
Marketplace
To encourage people to make informed choices and live healthier.
display calorie count and key nutrients on our food and beverage
packaging by 2012.
advertise to children under 12 only products that meet our global
science-based nutrition standards.
eliminate the direct sale of full-sugar soft drinks in primary and secondary
schools around the globe by 2012.
increase the range of foods and beverages that offer solutions for

managing calories, like portion sizes.

51
Milestones
PepsiCo is named to the 'Best Companies for Multi Cultural Women' list by
Working Mother magazine
PepsiCo joins Ceres, a leading coalition of investors, environmental groups and
public interest organizations working to address sustainability efforts
Near East brand launches two new productsPearled Couscous side dish and
Near East Gourmet Meal Kits
SoBe Lifewater introduces two new zero-calorie flavors Acai Fruit Punch and
Mango Melon
Pepsi celebrates its 75th anniversary in Canada
PepsiCo honored with 'Respect Award' for its commitment to diversity by the
Gay, Lesbian and Straight Education Network (GLSEN)
PepsiCo-Almarai joint ventures acquires stake in Jordanian dairy company,
Teeba
Frito-Lay Turkey honored with 'Environment-Friendly Industrial Plant' award from
the Kocaeli Chamber of Industry
PepsiCo creates Baked Snacks North America Business Unit to meet consumers
interest in more nutritious snacks and foods
PepsiCo opens new Russian beverage plant in Domodedovo, the largest bottling
plant in PepsiCo's global system
Naked Juice becomes the first nationally distributed brand to use 100% recycled
plastic bottles with the Naked reNewabottle
PepsiCo Russia celebrates 50th Anniversary
Frito-Lay North America adds more than 1,000 fuel-efficient vehicles to its fleet

52
Milestones
PepsiCo is named to the 'Best Companies for Multi Cultural Women' list by
Working Mother magazine
PepsiCo joins Ceres, a leading coalition of investors, environmental groups and
public interest organizations working to address sustainability efforts
Near East brand launches two new productsPearled Couscous side dish and
Near East Gourmet Meal Kits

 SoBe Lifewater introduces two new zero-calorie flavors Acai Fruit Punch and
Mango Melon
Pepsi celebrates its 75th anniversary in Canada
PepsiCo honored with 'Respect Award' for its commitment to diversity by the
Gay, Lesbian and Straight Education Network (GLSEN)
PepsiCo-Almarai joint ventures acquires stake in Jordanian dairy company,
Teeba
Frito-Lay Turkey honored with 'Environment-Friendly Industrial Plant' award from
the Kocaeli Chamber of Industry
PepsiCo creates Baked Snacks North America Business Unit to meet consumers
interest in more nutritious snacks and foods
PepsiCo opens new Russian beverage plant in Domodedovo, the largest bottling
plant in PepsiCo's global system
Naked Juice becomes the first nationally distributed brand to use 100% recycled
plastic bottles with the Naked reNewabottle
PepsiCo Russia celebrates 50th Anniversary
Frito-Lay North America adds more than 1,000 fuel-efficient vehicles to its fleet

52
STRATEGIES TO DRIVE OUR GROWTH
1. Expand the Global Leadership Position of Our Snacks
Business.
2. Ensure Sustainable, Profitable Growth in Global
Beverages.
3. Unleash the Power of Power of One.
4. Rapidly Expand Our Good-for-You Portfolio.
5. Continue to Deliver on Our Environmental Sustainability Goals and
Commitments.
6. Cherish Our Associates and Develop the Leadership to
Sustain Our Growth.

53
STRATEGIES TO DRIVE OUR GROWTH
1. Expand the Global Leadership Position of Our Snacks
Business.
2. Ensure Sustainable, Profitable Growth in Global
Beverages.
3. Unleash the Power of Power of One.
4. Rapidly Expand Our Good-for-You Portfolio.
5. Continue to Deliver on Our Environmental Sustainability Goals and
Commitments.
6. Cherish Our Associates and Develop the Leadership to
Sustain Our Growth.

53
PRODUCTION DEPARTMENT
Our OperatiOns

We are organized into three business units, as follows:

(1) PepsiCo Americas Foods (PAF), which includes Frito-Lay North America
(FLNA), Quaker Foods North America (QFNA) and all of our Latin
American food and snack businesses (LAF), including our Sabritas and
Gamesa businesses in Mexico;
(2) PepsiCo Americas Beverages (PAB), which includes PepsiCo Beverages
North America and all of our Latin American beverage businesses; and
(3) PepsiCo International (PI), which includes all PepsiCo businesses in
Europe and all PepsiCo businesses in Asia, Middle East and Africa
(AMEA).
Our three business units are comprised of six reportable segments
(referred to as divisions), as follows:
FLNA,
QFNA,
LAF,
PAB,
Europe, and
AMEA.

54
PRODUCTION DEPARTMENT
Our OperatiOns
We are organized into three business units, as follows:
(1) PepsiCo Americas Foods (PAF), which includes Frito-Lay North America
(FLNA), Quaker Foods North America (QFNA) and all of our Latin
American food and snack businesses (LAF), including our Sabritas and
Gamesa businesses in Mexico;
(2) PepsiCo Americas Beverages (PAB), which includes PepsiCo Beverages
North America and all of our Latin American beverage businesses; and
(3) PepsiCo International (PI), which includes all PepsiCo businesses in
Europe and all PepsiCo businesses in Asia, Middle East and Africa
(AMEA).

Our three business units are comprised of six reportable segments

(referred to as divisions), as follows:
FLNA,
QFNA,
LAF,
PAB,
Europe, and
AMEA.

54
MARKETING DEPARTMENT
Our Distribution network
We are brought to market through DSD, customer
warehouse and foodservice and vending distribution networks.
The distribution system used depends on customer needs,
product characteristics and local trade practices.
Direct-store-Delivery
We, our bottlers and our distributors operate DSD systems that
deliver snacks and beverages directly to retail stores where the
products are merchandised by our employees or our bottlers.
DSD enables us to merchandise with maximum visibility and
appeal. DSD is especially well-suited to products that are restocked
often and respond to in-store promotion and merchandising.
Customer warehouse
Some of our products are delivered from our manufacturing plants
and warehouses to customer warehouses and retail stores. These
less costly systems generally work best for products that are less
fragile and perishable, have lower turnover, and are less likely to
be impulse purchases.
Foodservice and Vending
Our foodservice and vending sales force distributes snacks, foods
and beverages to third-party foodservice and vending distributors

and operators. Our foodservice and vending sales force also

55
MARKETING DEPARTMENT
Our Distribution network
We are brought to market through DSD, customer
warehouse and foodservice and vending distribution networks.
The distribution system used depends on customer needs,
product characteristics and local trade practices.
Direct-store-Delivery
We, our bottlers and our distributors operate DSD systems that
deliver snacks and beverages directly to retail stores where the
products are merchandised by our employees or our bottlers.
DSD enables us to merchandise with maximum visibility and
appeal. DSD is especially well-suited to products that are restocked
often and respond to in-store promotion and merchandising.
Customer warehouse
Some of our products are delivered from our manufacturing plants
and warehouses to customer warehouses and retail stores. These
less costly systems generally work best for products that are less
fragile and perishable, have lower turnover, and are less likely to
be impulse purchases.
Foodservice and Vending
Our foodservice and vending sales force distributes snacks, foods
and beverages to third-party foodservice and vending distributors
and operators. Our foodservice and vending sales force also
55
distributes certain beverages through our bottlers. This distribution
system supplies our products to restaurants, businesses, schools,
stadiums and similar locations.
Our Competition
Our businesses operate in highly competitive markets. We compete against
global, regional, local and private label manufacturers on the basis of price,
quality, product variety and distribution. In U.S. measured channels, our chief
beverage competitor, The Coca-Cola Company, has a larger share of CSD

consumption, while we have a larger share of liquid refreshment beverages

consumption. In addition, The Coca-Cola Company has a significant CSD share
advantage in many markets outside the United States. Further, our snack brands
hold significant leadership positions in the snack industry worldwide. Our snack
brands face local, regional and private label competitors, as well as national and
global snack competitors, and compete on the basis of price, quality, product
variety and distribution. Success in this competitive environment is dependent on
effective promotion of existing products, the introduction of new products and the
effectiveness of our advertising campaigns, marketing programs and product
packaging. We believe that the strength of our brands, innovation and marketing,
coupled with the quality of our products and flexibility of our distribution network,
allow us to compete effectively.
Market Risks
We are exposed to market risks arising from adverse changes in:
commodity prices, affecting the cost of our raw materials
and energy,
foreign exchange rates, and
interest rates.
56
distributes certain beverages through our bottlers. This distribution
system supplies our products to restaurants, businesses, schools,
stadiums and similar locations.
Our Competition
Our businesses operate in highly competitive markets. We compete against
global, regional, local and private label manufacturers on the basis of price,
quality, product variety and distribution. In U.S. measured channels, our chief
beverage competitor, The Coca-Cola Company, has a larger share of CSD
consumption, while we have a larger share of liquid refreshment beverages
consumption. In addition, The Coca-Cola Company has a significant CSD share
advantage in many markets outside the United States. Further, our snack brands
hold significant leadership positions in the snack industry worldwide. Our snack
brands face local, regional and private label competitors, as well as national and
global snack competitors, and compete on the basis of price, quality, product
variety and distribution. Success in this competitive environment is dependent on
effective promotion of existing products, the introduction of new products and the
effectiveness of our advertising campaigns, marketing programs and product
packaging. We believe that the strength of our brands, innovation and marketing,
coupled with the quality of our products and flexibility of our distribution network,
allow us to compete effectively.

Market Risks
We are exposed to market risks arising from adverse changes in:
commodity prices, affecting the cost of our raw materials
and energy,
foreign exchange rates, and
interest rates.
56
HUMAN RESOURCE MANAGEMENT
PepsiCo is a company full of strong, talented individuals starting with the
company leadership. Get to know the inspiring people helping lead PepsiCo on
its 'Performance with Purpose' journey.
1. Indra K. Nooyi
Chairman and CEO, PepsiCo
2. John Compton
CEO, PepsiCo Americas Foods
3. Massimo d'Amore
CEO, PepsiCo Beverages Americas
4. Eric Foss
CEO, Pepsi Beverages Company
5. Zein Abdalla
CEO, PepsiCo Europe

57
HUMAN RESOURCE MANAGEMENT
PepsiCo is a company full of strong, talented individuals starting with the
company leadership. Get to know the inspiring people helping lead PepsiCo on
its 'Performance with Purpose' journey.
1. Indra K. Nooyi
Chairman and CEO, PepsiCo
2. John Compton
CEO, PepsiCo Americas Foods
3. Massimo d'Amore

CEO, PepsiCo Beverages Americas

4. Eric Foss
CEO, Pepsi Beverages Company
5. Zein Abdalla
CEO, PepsiCo Europe

57

FINANCIAL DEPARTMENT
Financial News
PepsiCo has enjoyed a long history of delivering strong financial growth for
shareholders. With some of the world's most powerful brands, our commitment to
sustainability and top global talent, PepsiCo is positioned to win in the long term.
Financial Highlights
PepsiCo, Inc. and subsidiaries (in millions except per share data; all per
share amounts assume dilution)

58

FINANCIAL DEPARTMENT
Financial News
PepsiCo has enjoyed a long history of delivering strong financial growth for
shareholders. With some of the world's most powerful brands, our commitment to
sustainability and top global talent, PepsiCo is positioned to win in the long term.
Financial Highlights
PepsiCo, Inc. and subsidiaries (in millions except per share data; all per
share amounts assume dilution)

58
Operating Activities
During 2010, net cash provided by operating activities was $8.4 billion, compared
to net cash provided of $6.8 billion in the prior year. The increase over the prior
year primarily reflects the incremental operating results from our acquisitions of
PBG and PAS, as well as favorable working capital comparisons to the prior
year. Also see Management Operating Cash Flow below for certain other items
impacting net cash provided by operating activities.
In 2009, our operations provided $6.8 billion of cash, compared to $7.0 billion in
2008, reflecting a $1.0 billion ($0.6 billion after-tax) discretionary pension

contribution to our U.S. pension plans, $196 million of restructuring payments

related to our Productivity for Growth program and $49 million of merger cost
payments related to our acquisitions of PBG and PAS. Operating cash flow also
reflected net favorable working capital comparisons to 2008.
Investing Activities
During 2010, net cash used for investing activities was $7.7 billion, primarily
reflecting $3.2 billion for net capital spending, $2.8 billion of net cash paid in
connection with our acquisitions of PBG and PAS, and $0.9 billion of cash paid in
connection with our manufacturing and distribution agreement with DPSG. We
also paid $0.5 billion to acquire WBD American Depositary Shares in the open
market.
In 2009, net cash used for investing activities was $2.4 billion, primarily reflecting
$2.1 billion for capital spending and $0.5 billion for acquisitions.
Subsequent to year-end 2010, we paid $0.2 billion to acquire WBD American
Depositary Shares in the open market. We also spent approximately $3.8 billion
to acquire approximately 66% of WBDs outstanding ordinary shares, increasing
our total ownership of WBD to approximately 77%. In addition to these
transactions, we expect to incur an additional $1.4 billion of investing cash
59
Operating Activities
During 2010, net cash provided by operating activities was $8.4 billion, compared
to net cash provided of $6.8 billion in the prior year. The increase over the prior
year primarily reflects the incremental operating results from our acquisitions of
PBG and PAS, as well as favorable working capital comparisons to the prior
year. Also see Management Operating Cash Flow below for certain other items
impacting net cash provided by operating activities.
In 2009, our operations provided $6.8 billion of cash, compared to $7.0 billion in
2008, reflecting a $1.0 billion ($0.6 billion after-tax) discretionary pension
contribution to our U.S. pension plans, $196 million of restructuring payments
related to our Productivity for Growth program and $49 million of merger cost
payments related to our acquisitions of PBG and PAS. Operating cash flow also
reflected net favorable working capital comparisons to 2008.
Investing Activities
During 2010, net cash used for investing activities was $7.7 billion, primarily
reflecting $3.2 billion for net capital spending, $2.8 billion of net cash paid in
connection with our acquisitions of PBG and PAS, and $0.9 billion of cash paid in
connection with our manufacturing and distribution agreement with DPSG. We
also paid $0.5 billion to acquire WBD American Depositary Shares in the open
market.
In 2009, net cash used for investing activities was $2.4 billion, primarily reflecting
$2.1 billion for capital spending and $0.5 billion for acquisitions.

Subsequent to year-end 2010, we paid $0.2 billion to acquire WBD American

Depositary Shares in the open market. We also spent approximately $3.8 billion
to acquire approximately 66% of WBDs outstanding ordinary shares, increasing
our total ownership of WBD to approximately 77%. In addition to these
transactions, we expect to incur an additional $1.4 billion of investing cash
59
outflows in connection with our intended purchase of the remaining outstanding
WBD shares, funded primarily through existing international cash.
We anticipate net capital spending in 2011 of about $3.7 billion, which includes
about $150 million of capital spending related to the integration of PBG and PAS,
as well as capital spending related to our acquisition of WBD.
Management Operating Cash Flow
We focus on management operating cash flow as a key element in achieving
maximum shareholder value, and it is the primary measure we use to monitor
cash flow performance. However, it is not a measure provided by accounting
principles generally accepted in the U.S. Therefore, this measure is not, and
should not be viewed as, a substitute for U.S. GAAP cash flow measures. Since
net capital spending is essential to our product innovation initiatives and
maintaining our operational capabilities, we believe that it is a recurring and
necessary use of cash. As such, we believe investors should also consider net
capital spending when evaluating our cash from operating activities. Additionally,
we consider certain items (included in the table below), in evaluating
management operating cash flow. We believe investors should consider these
items in evaluating our management operating cash flow results.

60
outflows in connection with our intended purchase of the remaining outstanding
WBD shares, funded primarily through existing international cash.
We anticipate net capital spending in 2011 of about $3.7 billion, which includes
about $150 million of capital spending related to the integration of PBG and PAS,
as well as capital spending related to our acquisition of WBD.

Management Operating Cash Flow

We focus on management operating cash flow as a key element in achieving
maximum shareholder value, and it is the primary measure we use to monitor
cash flow performance. However, it is not a measure provided by accounting
principles generally accepted in the U.S. Therefore, this measure is not, and
should not be viewed as, a substitute for U.S. GAAP cash flow measures. Since
net capital spending is essential to our product innovation initiatives and
maintaining our operational capabilities, we believe that it is a recurring and
necessary use of cash. As such, we believe investors should also consider net
capital spending when evaluating our cash from operating activities. Additionally,
we consider certain items (included in the table below), in evaluating
management operating cash flow. We believe investors should consider these
items in evaluating our management operating cash flow results.

60

Consolidated Balance Sheet

61

Consolidated Balance Sheet

61
SWOT ANALYSIS

Strengths
The company has strong background established since 1903 as Pepsi Cola.
Pepsi has been marketing its products in a strong way.
Well known brand in the world
Good sales and profit figures.
Increase in mineral water and fresh juices market share.
It has broader products width.
Strong distribution channels.
Pepsi sponsor number of sports event e.g. National Football League, National
Hockey League and Major League Baseball. Pepsi also sponsors Major League
Soccer.
Weaknesses
Differences among the employees on basis of racism.
Facing strong competition in mineral water market from Nestle.
Pepsi is far away from Coca Cola as far as financials and brand image is
concerned.
Opportunity
Growth in mineral water segment.
Food products should be promoted in untapped areas.
Launch health drinks in India to improve the brand image in the eyes of
customers
Joint ventures
Focus on social responsibility and sponsoring events.
62
SWOT ANALYSIS
Strengths
The company has strong background established since 1903 as Pepsi Cola.
Pepsi has been marketing its products in a strong way.
Well known brand in the world
Good sales and profit figures.
Increase in mineral water and fresh juices market share.
It has broader products width.
Strong distribution channels.
Pepsi sponsor number of sports event e.g. National Football League, National
Hockey League and Major League Baseball. Pepsi also sponsors Major League
Soccer.
Weaknesses
Differences among the employees on basis of racism.
Facing strong competition in mineral water market from Nestle.
Pepsi is far away from Coca Cola as far as financials and brand image is
concerned.
Opportunity
Growth in mineral water segment.
Food products should be promoted in untapped areas.

 Launch health drinks in India to improve the brand image in the eyes of
customers
Joint ventures
Focus on social responsibility and sponsoring events.
62

Threats
Food and beverages industry is mature.
Pepsi was blamed in multiple occasions for excess percentage of pesticide in
their products.
People are more health conscious so they prefer healthy drinks and juices.
Ongoing recession in majority of countries.
Random Currency fluctuation
Political instability and tax policies.
Pepsi is competing with major competitors in various segments such as Coca
cola in beverage, nestle in water and Kraft foods.
Company majority of sales are dependent on few products which is major risk.
Entry of new entrants
Coca Cola outsells Pepsi in US Market.

63

Threats
Food and beverages industry is mature.
Pepsi was blamed in multiple occasions for excess percentage of pesticide in
their products.
People are more health conscious so they prefer healthy drinks and juices.
Ongoing recession in majority of countries.
Random Currency fluctuation
Political instability and tax policies.
Pepsi is competing with major competitors in various segments such as Coca
cola in beverage, nestle in water and Kraft foods.
Company majority of sales are dependent on few products which is major risk.

 Entry of new entrants

Coca Cola outsells Pepsi in US Market.

63

3.Anu Aga
- Chairperson (former)
Thermax Group

64

3.Anu Aga

- Chairperson (former)
Thermax Group

64
General Information
ABOUT ANU AGA
Anu Aga was born on 3 August, 1942 in an upper middle-class, Parsi family
in Mumbai. She did her B.A. in Economics from St Xavier's College, Mumbai, and
post graduation in medical and psychiatric social work from the prestigious Tata
Institute of Social Sciences (TISS), Mumbai. She had also been a Fulbright
Scholar and studied in the United States for four months.
Anu started her career in Thermax in 1985 and later headed its human resources
division, 1991 to 1996, when after the death of husband, Rohinton Aga, she took
over as Chairperson of Thermax, finally retiring in 2004, succeeded by her
daughter and company vice-chairperson, Meher Pudumjee. Anu has since
remained on company's Board of Director ]and involved in social work.
She is an Indian businesswoman and social worker, who led Thermax Ltd., the
Rs 3246-crore energy and environment engineering major, as its chairperson
1996-2004.She had figured among the eight richest Indian women, and in 2007
was part of 40 Richest Indians by net worth according to Forbes magazine.
Why did we take Ms. Anu Aga?
Ms. Anu started her career in Thermax in 1985 and later headed its human
resources division, 1991 to 1996, when after the death of husband, Rohinton
Aga, she took as Chairperson, Thermax, finally retiring in 2004 succeeded by her
daughter and company vice-chairperson, Meher Pudumjee. Anu has since
remained on company's Board of Directors, and involved in social work.
65
General Information
ABOUT ANU AGA
Anu Aga was born on 3 August, 1942 in an upper middle-class, Parsi family
in Mumbai. She did her B.A. in Economics from St Xavier's College, Mumbai, and
post graduation in medical and psychiatric social work from the prestigious Tata

Institute of Social Sciences (TISS), Mumbai. She had also been a Fulbright
Scholar and studied in the United States for four months.
Anu started her career in Thermax in 1985 and later headed its human resources
division, 1991 to 1996, when after the death of husband, Rohinton Aga, she took
over as Chairperson of Thermax, finally retiring in 2004, succeeded by her
daughter and company vice-chairperson, Meher Pudumjee. Anu has since
remained on company's Board of Director ]and involved in social work.
She is an Indian businesswoman and social worker, who led Thermax Ltd., the
Rs 3246-crore energy and environment engineering major, as its chairperson
1996-2004.She had figured among the eight richest Indian women, and in 2007
was part of 40 Richest Indians by net worth according to Forbes magazine.
Why did we take Ms. Anu Aga?
Ms. Anu started her career in Thermax in 1985 and later headed its human
resources division, 1991 to 1996, when after the death of husband, Rohinton
Aga, she took as Chairperson, Thermax, finally retiring in 2004 succeeded by her
daughter and company vice-chairperson, Meher Pudumjee. Anu has since
remained on company's Board of Directors, and involved in social work.
65
What position is Ms. Anu aga now in Thermax?
After her husbands death Thermaxs growth curve dipped and share prices
plummeted from Rs 400 to Rs 36. An anonymous letter from a shareholder
accusing her of letting him down forced her to take stock of the situation. I
realised I wasnt capable but was only pretending to run the business, she says.
Losing no time, she detached herself from day-to-day operations and brought in
a foreign consultant to restructure the company the move revived its fortunes.
Ms. Aga was the Chairperson of Thermax, the Rs. 3246 crore leading Indian
player in energy and environment management. She was instrumental in turning
around the company and bringing it to its growth path. Ms. Aga retired in 2004
and is a Director on the Board of Thermax.
Since retiring, Mrs. Aga has chosen to focus on education for the
underprivileged. She is closely involved with Akanksha, an NGO which
supplements the educational needs of the slum children. In partnership with
Pune Municipal Corporation and Akanksha, Thermax Foundation has adopted
two municipal schools in Pune. She is on the Board of Teach for India, an
initiative that attempts to bridge the inequity gap in education.
What was the process to come at Chairpersons position?
The year 1996 marked the beginning of the reinvention of Anu Aga. Her
husband, Rohinton Aga, passed away suddenly, leaving Thermax, the company
he transformed from a small boilermaker into a leader in energy and
environmental solutions, in Anus hands. This was a crucial period for Thermax
as the company was in the midst of going public. A mere 14 months later, Anus

25-year-old son Kurush died in a fatal car crash. If this wasnt enough to bring
Anu Agas life to a shuddering halt, Thermax began to unravel at its seams.
The culture that Rohinton Aga had built within Thermax apparently couldnt deal
with the complexities of an unplanned succession. A host of diversifications into
66
What position is Ms. Anu aga now in Thermax?
After her husbands death Thermaxs growth curve dipped and share prices
plummeted from Rs 400 to Rs 36. An anonymous letter from a shareholder
accusing her of letting him down forced her to take stock of the situation. I
realised I wasnt capable but was only pretending to run the business, she says.
Losing no time, she detached herself from day-to-day operations and brought in
a foreign consultant to restructure the company the move revived its fortunes.
Ms. Aga was the Chairperson of Thermax, the Rs. 3246 crore leading Indian
player in energy and environment management. She was instrumental in turning
around the company and bringing it to its growth path. Ms. Aga retired in 2004
and is a Director on the Board of Thermax.
Since retiring, Mrs. Aga has chosen to focus on education for the
underprivileged. She is closely involved with Akanksha, an NGO which
supplements the educational needs of the slum children. In partnership with
Pune Municipal Corporation and Akanksha, Thermax Foundation has adopted
two municipal schools in Pune. She is on the Board of Teach for India, an
initiative that attempts to bridge the inequity gap in education.
What was the process to come at Chairpersons position?
The year 1996 marked the beginning of the reinvention of Anu Aga. Her
husband, Rohinton Aga, passed away suddenly, leaving Thermax, the company
he transformed from a small boilermaker into a leader in energy and
environmental solutions, in Anus hands. This was a crucial period for Thermax
as the company was in the midst of going public. A mere 14 months later, Anus
25-year-old son Kurush died in a fatal car crash. If this wasnt enough to bring
Anu Agas life to a shuddering halt, Thermax began to unravel at its seams.
The culture that Rohinton Aga had built within Thermax apparently couldnt deal
with the complexities of an unplanned succession. A host of diversifications into
66
other areas such as co-generation of power, finance and software either
went belly up or began to flounder. Also, industries that relied on Thermaxs
products such as capital goods and textiles began to see a downturn,
further affecting the companys revenues even as costs were increasing. The
companys market cap nosedived from Rs 990 crore in 1996 to Rs 186 crore in
2000.
Today, Anu Aga is a poster woman for Indian entrepreneurs and worth a
whopping $1.1 billion, according to Forbes magazine. Thermaxs turnover has
ballooned to more than Rs 3,246 crore. Its offices are sprawled across the globe
in China, the UK and the US as demand for its heating, waste heat

recovery and waste water solutions has been robust. From an abysmal Rs 13
crore loss in 2001, Thermax posted a net profit of more than Rs 250 crore in
2008.
Education of Ms. Anu aga
She did her B.A. in Economics from St Xavier's College, Mumbai, and post
graduation in medical and psychiatric social work from the prestigious Tata
Institute of Social Sciences(TISS), Mumbai. She had also been a Fulbright
Scholar and studied in the United States for four months.
Why she got success?
How could Anu Aga accomplish all of this, especially in the face of such
overwhelming tragedy? Aga turned to Vipasana meditation after her sons death,
which gave her the courage to pick up the pieces and move on. Aga had
originally joined Thermax in 1985 as an HR head, but didnt have much of a role
in the operations of the company. My corporate life lasted only 20 years, says
the 65-year-old Aga. I never intended to work in the company; I was interested
67
other areas such as co-generation of power, finance and software either
went belly up or began to flounder. Also, industries that relied on Thermaxs
products such as capital goods and textiles began to see a downturn,
further affecting the companys revenues even as costs were increasing. The
companys market cap nosedived from Rs 990 crore in 1996 to Rs 186 crore in
2000.
Today, Anu Aga is a poster woman for Indian entrepreneurs and worth a
whopping $1.1 billion, according to Forbes magazine. Thermaxs turnover has
ballooned to more than Rs 3,246 crore. Its offices are sprawled across the globe
in China, the UK and the US as demand for its heating, waste heat
recovery and waste water solutions has been robust. From an abysmal Rs 13
crore loss in 2001, Thermax posted a net profit of more than Rs 250 crore in
2008.
Education of Ms. Anu aga
She did her B.A. in Economics from St Xavier's College, Mumbai, and post
graduation in medical and psychiatric social work from the prestigious Tata
Institute of Social Sciences(TISS), Mumbai. She had also been a Fulbright
Scholar and studied in the United States for four months.
Why she got success?

How could Anu Aga accomplish all of this, especially in the face of such
overwhelming tragedy? Aga turned to Vipasana meditation after her sons death,
which gave her the courage to pick up the pieces and move on. Aga had
originally joined Thermax in 1985 as an HR head, but didnt have much of a role
in the operations of the company. My corporate life lasted only 20 years, says
the 65-year-old Aga. I never intended to work in the company; I was interested
67
in social sciences and ended up in the corporate by default. Nevertheless, she
had to galvanise herself into action. Aga sacked the entire board including
daughter Meher Pudumjee replacing them with fresh members in an effort to
turn the culture of the company around. She pruned employees, cut unnecessary
investments in non-core businesses and hired the Boston Consulting Group to
restructure the company.
Despite her legendary success with Thermax, Anu Aga has always harboured
another passion inspired by Kurush. For the past two years, education has
become my priority, she says. This is where the company can make a
difference, and it was my sons wish that I did something for children.
Anu Aga of Thermax India Awarded the Padma Shri
Anu Aga, the ex-Chairman of Thermax India has been awarded the Padma Shri.
Her name featured on the list of awardees announced by the Government on the
occasion of Republic Day 2010.
Mergers and Acquisitions
Thermax Acquires Denmark-Based Boiler Maker Danstoker
Thermax Limited has acquired Danstoker A/S, a leading European boiler
manufacturer, and its German subsidiary, Omnical Kessel- und
Apparatebau Gmbh. The acquisition valued at US$40 million will play a
key role in Thermax's plans for growth in the European energy market.
68
in social sciences and ended up in the corporate by default. Nevertheless, she
had to galvanise herself into action. Aga sacked the entire board including
daughter Meher Pudumjee replacing them with fresh members in an effort to
turn the culture of the company around. She pruned employees, cut unnecessary
investments in non-core businesses and hired the Boston Consulting Group to
restructure the company.
Despite her legendary success with Thermax, Anu Aga has always harboured
another passion inspired by Kurush. For the past two years, education has
become my priority, she says. This is where the company can make a

difference, and it was my sons wish that I did something for children.
Anu Aga of Thermax India Awarded the Padma Shri
Anu Aga, the ex-Chairman of Thermax India has been awarded the Padma Shri.
Her name featured on the list of awardees announced by the Government on the
occasion of Republic Day 2010.
Mergers and Acquisitions
Thermax Acquires Denmark-Based Boiler Maker Danstoker
Thermax Limited has acquired Danstoker A/S, a leading European boiler
manufacturer, and its German subsidiary, Omnical Kessel- und
Apparatebau Gmbh. The acquisition valued at US$40 million will play a
key role in Thermax's plans for growth in the European energy market.
68
BACKGROUND OF THE COMPANY
Thermax Ltd. (BSE: 500411|NSE: THERMAX) is a multi-national energy and
environment engineering company based in India; and in Britain. It manufactures
boilers, vapour absorption machines, offers water and waste solutions and
installs captive power projects. Thermax is also a historic brand name of boilers,
and the name of a former toughened-glass company.
Anu Aga was the chairperson of the company 1996-2004, till she handed over
the reigns to her daughter, Meher Pudumjee , and figured amongst the eight
richest Indian women, and in 2007 was part of 40 Richest Indians by net worth
according to Forbes magazine, in 2009 she was at number 55, and continues to
be a board member.
Vision
To be a globally respected high performance organization offering
sustainable solutions in energy and environment.
Mission
We aspire to become a leading technology company with a global outlook
delivering world-class products and services to customers.
We exist to fulfill the needs of our customers best understood through an
enlightened partnership with him.
Our challenge is to continually expand and define new markets by
expanding the frontiers of research and engineering and customer
69

BACKGROUND OF THE COMPANY

Thermax Ltd. (BSE: 500411|NSE: THERMAX) is a multi-national energy and
environment engineering company based in India; and in Britain. It manufactures
boilers, vapour absorption machines, offers water and waste solutions and
installs captive power projects. Thermax is also a historic brand name of boilers,
and the name of a former toughened-glass company.
Anu Aga was the chairperson of the company 1996-2004, till she handed over
the reigns to her daughter, Meher Pudumjee , and figured amongst the eight
richest Indian women, and in 2007 was part of 40 Richest Indians by net worth
according to Forbes magazine, in 2009 she was at number 55, and continues to
be a board member.
Vision
To be a globally respected high performance organization offering
sustainable solutions in energy and environment.
Mission
We aspire to become a leading technology company with a global outlook
delivering world-class products and services to customers.
We exist to fulfill the needs of our customers best understood through an
enlightened partnership with him.
Our challenge is to continually expand and define new markets by
expanding the frontiers of research and engineering and customer
69
Acquisitions
In November 2010, Thermax acquired European boiler manufacturer
Danstroker A/S, and its German subsidiary, Omnical Kessel for Euro 29.5M.
Structure
It has four main offices Thermax (Europe) Ltd is based in Fenny Stratford, Milton Keynes in
England (not far from IKEA).
Thermax Inc - based in Northville, Michigan, USA
Thermax do Brasil Energia e Equipamentos Ltda - Brazil
Thermax (Zhejiang) Cooling & Heating Engineering Co - China
Its main divisions are Cooling and Heating (C & H)division.
Boilers and Heaters (B & H)division.
Power division.
Enviro division.

 Chemical and Water division.

Solar energy division.

70
Acquisitions
In November 2010, Thermax acquired European boiler manufacturer
Danstroker A/S, and its German subsidiary, Omnical Kessel for Euro 29.5M.
Structure
It has four main offices Thermax (Europe) Ltd is based in Fenny Stratford, Milton Keynes in
England (not far from IKEA).
Thermax Inc - based in Northville, Michigan, USA
Thermax do Brasil Energia e Equipamentos Ltda - Brazil
Thermax (Zhejiang) Cooling & Heating Engineering Co - China
Its main divisions are Cooling and Heating (C & H)division.
Boilers and Heaters (B & H)division.
Power division.
Enviro division.
Chemical and Water division.
Solar energy division.

70
Products
The main company makes absorption chillers used for large air conditioning
systems.
The joint venture with Babcock & Wilcox makes B&W-licensed boilers for
circulating fluidised beds and HRSGs.
Thermax, as a part of its social obligation, is committed to:
Provide quality education to the underprivileged children.
Create an environment that respects the communities and the natural
environment.
As a signatory to CIIs initiative on affirmative action, work to achieve the
defined objectives.
Involve and encourage employees and their families to participate in the

various social initiatives of the company.

71
Products
The main company makes absorption chillers used for large air conditioning
systems.
The joint venture with Babcock & Wilcox makes B&W-licensed boilers for
circulating fluidised beds and HRSGs.
Thermax, as a part of its social obligation, is committed to:
Provide quality education to the underprivileged children.
Create an environment that respects the communities and the natural
environment.
As a signatory to CIIs initiative on affirmative action, work to achieve the
defined objectives.
Involve and encourage employees and their families to participate in the
various social initiatives of the company.

71
MILESTONES SINCE INCEPTION

1966 to 1986
Wanson India starts operations in Pune, manufacturing small coil-type
packaged boilers (Vaporax), in collaboration with Wanson, Belgium..
Wanson India becomes Thermax Pvt Ltd. Conserving energy, preserving
the environment was adopted as the corporate vision.
R D Aga appointed Chairman and Managing Director of Thermax Pvt Ltd.
In 1981
1987 to 2006
The company forms the joint venture Thermax Babcock & Wilcox Ltd.
Combined Heating and Power Group (CHAP) is formed which later

became the Cogen division.

Tata McGraw-Hill publishes R D Agas book Changing the Mindset Reflections of a Chief Executive.
19 Feb 1996 - Anu Aga is appointed as Executive Chairperson.
June - Thermax acquires boiler company, M E Engineering Ltd, in UK.
In March 2001, Thermax starts subsidiary company, Thermax Inc, in the
US.
April 2002 - Thermax gets ISO 14001 certification for its chemical plant at
Paudh.
In March 2003 - Anu Aga honoured with Lifetime Achievement Award by
Financial Express/Electrolux.
In 2004 Anu Aga retires as Chairperson and Meher Pudumjee takes over.
Thermax among the 20 Indian companies featured in the Forbes Asia List
of Asias Best under a Billion companies.
72
MILESTONES SINCE INCEPTION

1966 to 1986
Wanson India starts operations in Pune, manufacturing small coil-type
packaged boilers (Vaporax), in collaboration with Wanson, Belgium..
Wanson India becomes Thermax Pvt Ltd. Conserving energy, preserving
the environment was adopted as the corporate vision.
R D Aga appointed Chairman and Managing Director of Thermax Pvt Ltd.
In 1981
1987 to 2006
The company forms the joint venture Thermax Babcock & Wilcox Ltd.
Combined Heating and Power Group (CHAP) is formed which later
became the Cogen division.
Tata McGraw-Hill publishes R D Agas book Changing the Mindset Reflections of a Chief Executive.
19 Feb 1996 - Anu Aga is appointed as Executive Chairperson.
June - Thermax acquires boiler company, M E Engineering Ltd, in UK.
In March 2001, Thermax starts subsidiary company, Thermax Inc, in the
US.
April 2002 - Thermax gets ISO 14001 certification for its chemical plant at
Paudh.
In March 2003 - Anu Aga honoured with Lifetime Achievement Award by
Financial Express/Electrolux.
In 2004 Anu Aga retires as Chairperson and Meher Pudumjee takes over.
Thermax among the 20 Indian companies featured in the Forbes Asia List
of Asias Best under a Billion companies.

72
AWARDS AND RECOGNITION
Mrs. Anu Aga, Director of your company was honoured with the Padma
Shri by the President of India. The Award is in recognition of her
distinguished service in the field of social work.
Thermax won the Enertia Award 2009 for setting up the state-of-the-art
manufacturing facility for boilers and allied equipment at Savli, Gujarat.
The award was given in the 'Manufacturing power generation equipment
and related auxiliaries' category.
Her company's manufacturing plants at Chinchwad won awards for
safety performance and environment management from the Greentech
Foundation. The plants of its Boiler & Heater business also won the
Golden Peacock Award for Occupational Health and Safety from the
Institute of Directors.
Thermax also won the Imai Award for Operational Excellence for
'Exemplary Employee Engagement in Total Productive Maintenance' from
the Kaizen Institute in February 2010 At CII's (Western Region) HR
Awards for Excellence 2008.
Her company received a commendation award for 'Strong commitment to
HR Excellence.

73
AWARDS AND RECOGNITION
Mrs. Anu Aga, Director of your company was honoured with the Padma
Shri by the President of India. The Award is in recognition of her
distinguished service in the field of social work.
Thermax won the Enertia Award 2009 for setting up the state-of-the-art
manufacturing facility for boilers and allied equipment at Savli, Gujarat.
The award was given in the 'Manufacturing power generation equipment
and related auxiliaries' category.
Her company's manufacturing plants at Chinchwad won awards for
safety performance and environment management from the Greentech
Foundation. The plants of its Boiler & Heater business also won the
Golden Peacock Award for Occupational Health and Safety from the
Institute of Directors.

 Thermax also won the Imai Award for Operational Excellence for
'Exemplary Employee Engagement in Total Productive Maintenance' from
the Kaizen Institute in February 2010 At CII's (Western Region) HR
Awards for Excellence 2008.
Her company received a commendation award for 'Strong commitment to
HR Excellence.

73
PRODUCTION DEPARTMENT
Product Range Diverse and Efficient
From our experience of over three decades in the energy sector, we offer a
range of boilers and thermal oil heaters, energy chillers and customized products
like exhaust gas boilers. Thermax absorption chillers have found a niche in
green energy systems in Europe and Australia. We also help industries reduce
energy costs by shifting to abundantly available, alternate energy such as
biomass.
Industry-specific Solutions Clean and Green
Thermax provides industries with clean technologies that recover pollutants;
thereby reducing their hazardous impact on the environment. Today, many iron &
steel, cement, fertilizer and chemical industries reduce emissions using our air
pollution control systems.
Industries in the US and Japan consistently use our hi-grade ion exchange resins
for
specialised
applications
Project Management Capabilities
Our project management capabilities extend to setting up energy-environment
projects for customers in several markets. This is backed by a robust and
innovative R&D setup, involved in technology development and adaptation for
various industrial applications.

74
PRODUCTION DEPARTMENT
Product Range Diverse and Efficient
From our experience of over three decades in the energy sector, we offer a
range of boilers and thermal oil heaters, energy chillers and customized products
like exhaust gas boilers. Thermax absorption chillers have found a niche in
green energy systems in Europe and Australia. We also help industries reduce
energy costs by shifting to abundantly available, alternate energy such as
biomass.
Industry-specific Solutions Clean and Green
Thermax provides industries with clean technologies that recover pollutants;
thereby reducing their hazardous impact on the environment. Today, many iron &
steel, cement, fertilizer and chemical industries reduce emissions using our air
pollution control systems.
Industries in the US and Japan consistently use our hi-grade ion exchange resins
for
specialised
applications
Project Management Capabilities
Our project management capabilities extend to setting up energy-environment
projects for customers in several markets. This is backed by a robust and
innovative R&D setup, involved in technology development and adaptation for
various industrial applications.

74
HUMAN RESOURCE DEPARTMENT
Board of Directors
Meher Pudumjee, Chairperson
Meher Pudumjee took over as Chairperson of Thermax Limited on October 5,
2004, after the retirement of Anu Aga. A Postgraduate in Chemical Engineering
from the Imperial College of Science & Technology, London, Meher joined
Thermax.

M S Unnikrishnan, Managing Director

M S Unnikrishnan, took over as Managing Director on July 1, 2007. Earlier, as
Executive Vice President, he was head of the company's project business, viz.
captive
power,
boilers
&
heaters
and
air
pollution
control.
Anu Aga, Director
Anu Aga, after retiring as Chairperson of Thermax in October 2004 continues as
Director on the Company's Board of Directors. She began her career in Thermax
in 1985 and later was in charge of the Company's human resources function from
1991 to 1996. She took over as the Chairperson of the Thermax Group in
February
1996,
after
her
husband
Rohinton
Aga
passed
away.
Confederation of Indian Industries (CII) and has served as the Chairperson of
CII's Western Region. She has written extensively and given talks on the
subjects of corporate governance, value-based management and on corporate
social responsibility.
75
HUMAN RESOURCE DEPARTMENT
Board of Directors
Meher Pudumjee, Chairperson
Meher Pudumjee took over as Chairperson of Thermax Limited on October 5,
2004, after the retirement of Anu Aga. A Postgraduate in Chemical Engineering

from the Imperial College of Science & Technology, London, Meher joined
Thermax.
M S Unnikrishnan, Managing Director
M S Unnikrishnan, took over as Managing Director on July 1, 2007. Earlier, as
Executive Vice President, he was head of the company's project business, viz.
captive
power,
boilers
&
heaters
and
air
pollution
control.
Anu Aga, Director
Anu Aga, after retiring as Chairperson of Thermax in October 2004 continues as
Director on the Company's Board of Directors. She began her career in Thermax
in 1985 and later was in charge of the Company's human resources function from
1991 to 1996. She took over as the Chairperson of the Thermax Group in
February
1996,
after
her
husband
Rohinton
Aga
passed
away.
Confederation of Indian Industries (CII) and has served as the Chairperson of
CII's Western Region. She has written extensively and given talks on the
subjects of corporate governance, value-based management and on corporate
social responsibility.
75
Corporate Social Responsibility
Thermax believes that corporate organisations should think beyond profit and
reach out for the wellbeing of the larger society. Guided by the vision of its
founder Chairman Rohinton Aga - 'profit is not just a set of figure but of values' over the years, Thermax has worked on a modest CSR agenda to fulfill its
obligations to its wider circle of stakeholders including the communities in which it

operates.
The CSR programme of the company got a formal structure and a governing
body when the Thermax Social Initiative Foundation (TSIF) was formed in March,
2007 as a not-for-profit body registered under Section 25 of the Companies Act.
Convinced that education can be the best enabler to come up in life, the
Foundation has decided to primarily focus on initiatives in this crucial area.
Thermax, as a part of its social obligation, is committed to:
Provide quality education to the underprivileged children.
Create an environment that respects the communities and the natural
environment.
As a signatory to CIIs initiative on affirmative action, work to achieve the defined
objectives.
Involve and encourage employees and their families to participate in the various
social initiatives of the company.
Says Anu Aga, Director and former Chairperson, I would like our company to
play a bigger role in community affairs with complete adherence to the tenets of
good corporate governance. We will actively commit ourselves to initiatives that
can help improve the quality of life of the communities in which we live and work.
76
Corporate Social Responsibility
Thermax believes that corporate organisations should think beyond profit and
reach out for the wellbeing of the larger society. Guided by the vision of its
founder Chairman Rohinton Aga - 'profit is not just a set of figure but of values' over the years, Thermax has worked on a modest CSR agenda to fulfill its
obligations to its wider circle of stakeholders including the communities in which it
operates.
The CSR programme of the company got a formal structure and a governing
body when the Thermax Social Initiative Foundation (TSIF) was formed in March,
2007 as a not-for-profit body registered under Section 25 of the Companies Act.
Convinced that education can be the best enabler to come up in life, the
Foundation has decided to primarily focus on initiatives in this crucial area.
Thermax, as a part of its social obligation, is committed to:
Provide quality education to the underprivileged children.
Create an environment that respects the communities and the natural
environment.
As a signatory to CIIs initiative on affirmative action, work to achieve the defined
objectives.
Involve and encourage employees and their families to participate in the various

social initiatives of the company.

Says Anu Aga, Director and former Chairperson, I would like our company to
play a bigger role in community affairs with complete adherence to the tenets of
good corporate governance. We will actively commit ourselves to initiatives that
can help improve the quality of life of the communities in which we live and work.
76
Corporate Governance
Thermax adheres to high standards of corporate governance. Through its
corporate governance measures, the company aims to maintain transparency in
its financial reporting and keep all its stakeholders informed about policies,
performance and development. Stakeholder confidence is sustained by adopting
and continuing good practices, which is at the heart of effective corporate
governance.
The key elements in the company's corporate governance practice are
transparency, disclosure, supervision and internal controls, risk management,
internal and external communications and high standards of safety, accounting
fidelity, product and service quality. The company's board has empowered
responsible persons to implement its policies and guidelines and has set up
adequate review processes.
Thermax is a Public Limited Company. Its equity shares are listed on two stock
exchanges The National Stock Exchange of India Limited (NSE) and Bombay
Stock Exchange Limited (BSE).

77
Corporate Governance
Thermax adheres to high standards of corporate governance. Through its
corporate governance measures, the company aims to maintain transparency in
its financial reporting and keep all its stakeholders informed about policies,
performance and development. Stakeholder confidence is sustained by adopting
and continuing good practices, which is at the heart of effective corporate
governance.

The key elements in the company's corporate governance practice are

transparency, disclosure, supervision and internal controls, risk management,
internal and external communications and high standards of safety, accounting
fidelity, product and service quality. The company's board has empowered
responsible persons to implement its policies and guidelines and has set up
adequate review processes.
Thermax is a Public Limited Company. Its equity shares are listed on two stock
exchanges The National Stock Exchange of India Limited (NSE) and Bombay
Stock Exchange Limited (BSE).

77
FINANCIAL DEPARTMENT
THERMAX LIMITED - FINANCIALS AT A GLANCE

(crore)
PARTICULARS
200720062005200420032002200108
07
06
05
04

03
02
Domestic Sales
2479
1735
1157
740
446
398
333
Export (including 678
402
308
176
118
116
107
deemed export)
TOTAL SALES
3157 2137 1465 916
564
514
440

CURRENT
1008
929
533
368
265
201
232
ASSETS
Current liabilities
1163
1087
600
368
227

150
145
Net
current (155)
(158)
(67)
0
38
51
88
assets

Equity
Share 24
24
24
24
24
24
24
Capital
Preference share 0
0
0
0
0
0
0
capital $
Reserves
and 712
555
450
332
312
340
324
Surplus
Net worth

736
579
474
355
335
356
333
Loan funds
0
0
0
0
0
0
11
78
FINANCIAL DEPARTMENT
THERMAX LIMITED - FINANCIALS AT A GLANCE

(crore)
PARTICULARS
200720062005200420032002200108
07
06
05
04
03
02

Domestic Sales
2479
1735
1157
740
446
398
333
Export (including 678
402
308
176
118
116
107
deemed export)
TOTAL SALES
3157 2137 1465 916
564
514
440

CURRENT
1008
929
533
368
265
201
232
ASSETS
Current liabilities
1163
1087
600
368
227
150
145

Net
current (155)
(158)
(67)
0
38
51
88
assets

Equity
Share 24
24
24
24
24
24
24
Capital
Preference share 0
0
0
0
0
0
0
capital $
Reserves
and 712
555
450
332
312
340
324
Surplus
Net worth
736
579

474
355
335
356
333
Loan funds
0
0
0
0
0
0
11
78
Profit After Tax (PAT)

PARTICULARS
20082009-10
2009

Total income
3235.23
3
3
0
3.17

Profit before interest, depreciation,

433.88

453.23
tax and extraordinary items
Interest & depreciation
41.94
35.38
Profit before tax & before extraordinary items
391.94
417.85
Extraordinary items of expenses / (income)
114.86
(1.36)
Provision for taxation (incl. deferred tax)
135.64
131.91
Profit after tax & extraordinary items
141.44
287.30
Balance carried forward from last year
548.00
359.20
Profit available for appropriation (cumulative
)
689.44
646.50
Proposed equity dividend
59.58
59.58
Tax on dividend
9.90
10.12
Transfer to general reserves
14.20
28.80
Surplus carried forward
605.76
548.00

Profit After Tax (PAT)

Expenditure on R&D
a. Capital :
Rs. 1.3 crore
b. Recurring :
Rs. 12.9 crore
c. Total :
Rs. 14.2 crore
d. Total R&D Expenditure as a percentage of turnover : 0.46%
79
Profit After Tax (PAT)

PARTICULARS
20082009-10
2009

Total income
3235.23
3
3
0
3.17

Profit before interest, depreciation,

433.88
453.23
tax and extraordinary items
Interest & depreciation

41.94
35.38
Profit before tax & before extraordinary items
391.94
417.85
Extraordinary items of expenses / (income)
114.86
(1.36)
Provision for taxation (incl. deferred tax)
135.64
131.91
Profit after tax & extraordinary items
141.44
287.30
Balance carried forward from last year
548.00
359.20
Profit available for appropriation (cumulative
)
689.44
646.50
Proposed equity dividend
59.58
59.58
Tax on dividend
9.90
10.12
Transfer to general reserves
14.20
28.80
Surplus carried forward
605.76
548.00
Profit After Tax (PAT)
Expenditure on R&D
a. Capital :

Rs. 1.3 crore

b. Recurring :
Rs. 12.9 crore
c. Total :
Rs. 14.2 crore
d. Total R&D Expenditure as a percentage of turnover : 0.46%
79
Summary
This woman became the Chairperson of Thermax Engineering after the death
ofher husband Rohinton Aga. The companys condition was critical at that time.
Its share price dipped to Rs. 36 from Rs. 400. Anu Aga, the then Director of
Human Resource, Thermax, was compelled to take charge of the company.
In order to make the company profitable, she brought a consultant fromabroad
and restructured the company. The strategy worked and the company saw profit
again. She stepped down from the post of chairperson in 2004. Now, she spends
most of her time in social activities. Bombay Management Association awarded
her Management Woman Achiever of the Year Award 2002 2003. After retiring
from Thermax, she took to social work, and 2010 wasawarded the Padma Shri
(Social Work) by Govt. of India.

80
Summary
This woman became the Chairperson of Thermax Engineering after the death
ofher husband Rohinton Aga. The companys condition was critical at that time.
Its share price dipped to Rs. 36 from Rs. 400. Anu Aga, the then Director of
Human Resource, Thermax, was compelled to take charge of the company.
In order to make the company profitable, she brought a consultant fromabroad
and restructured the company. The strategy worked and the company saw profit
again. She stepped down from the post of chairperson in 2004. Now, she spends
most of her time in social activities. Bombay Management Association awarded
her Management Woman Achiever of the Year Award 2002 2003. After retiring
from Thermax, she took to social work, and 2010 wasawarded the Padma Shri
(Social Work) by Govt. of India.

80

4.Dr.Kiran Mazumdar
Shaw
( Chairman & Managing Director
of Biocon Limited.)

81

4.Dr.Kiran Mazumdar
Shaw
( Chairman & Managing Director
of Biocon Limited.)

81
About Dr. Kiran Mazumdar Shaw
Kiran Mazumdar-Shaw (Born: March 23, 1953) is an Indian businesswoman and
founder of Biocon, the biotechnology company based in Bangalore (Bangaluru),
India. She is the Chairperson and Managing Director of Biocon Limited, and
Chairperson of Syngene International Limited and Clinigene International
Limited.
She started Biocon in 1978 and spearheaded its evolution from an industrial
enzymes manufacturing company to a fully integrated bio-pharmaceutical
company with a well-balanced business portfolio of products and a research
focus on diabetes, oncology and auto-immune diseases. She also established
two subsidiaries: Syngene (1994) to provide development support services for
discovery research and Clinigene (2000) to cater to clinical development
services.
Her pioneering work in the sector has earned her several awards, including the
prestigious Padma Shri (1989) and the Padma Bhushan (2005) from the
government of India.She was recently named among TIME magazines 100 most
influential people in the world. She is also on the Forbes list of the worlds 100
most powerful women, and the Financial Times top 50 women in business list.
Born in Bangalore, Kiran Mazumdar-Shaw completed her schooling from the
citys Bishop Cotton Girls High School (1968). She wanted to join medical school
but instead took up biology and completed her B.Sc Zoology Honors course from
Bangalore University (1973). She later did her post-graduation in Malting and
Brewing from Ballarat College, Melbourne University (1975).
82
About Dr. Kiran Mazumdar Shaw
Kiran Mazumdar-Shaw (Born: March 23, 1953) is an Indian businesswoman and
founder of Biocon, the biotechnology company based in Bangalore (Bangaluru),
India. She is the Chairperson and Managing Director of Biocon Limited, and
Chairperson of Syngene International Limited and Clinigene International
Limited.
She started Biocon in 1978 and spearheaded its evolution from an industrial
enzymes manufacturing company to a fully integrated bio-pharmaceutical
company with a well-balanced business portfolio of products and a research
focus on diabetes, oncology and auto-immune diseases. She also established

two subsidiaries: Syngene (1994) to provide development support services for

discovery research and Clinigene (2000) to cater to clinical development
services.
Her pioneering work in the sector has earned her several awards, including the
prestigious Padma Shri (1989) and the Padma Bhushan (2005) from the
government of India.She was recently named among TIME magazines 100 most
influential people in the world. She is also on the Forbes list of the worlds 100
most powerful women, and the Financial Times top 50 women in business list.
Born in Bangalore, Kiran Mazumdar-Shaw completed her schooling from the
citys Bishop Cotton Girls High School (1968). She wanted to join medical school
but instead took up biology and completed her B.Sc Zoology Honors course from
Bangalore University (1973). She later did her post-graduation in Malting and
Brewing from Ballarat College, Melbourne University (1975).
82
Why did we take Dr.Kiran mazmudar?
Kiran Mazumdar Shaw started her professional career as trainee brewer in
Carlton & United Beverages in 1974. In 1978, she joined as Trainee Manager
with Biocon Biochemicals Limited in Ireland. In the same year, Kiran Mazumdar
Shaw founded Biocon India in collaboration with Biocon Biochemicals Limited,
with a capital of Rs.10,000. She initially faced many problems regarding funds for
her business. Banks were hesitant to give loan to her as biotechnology was a
totally new field at that point of time and she was a woman entrepreneur, which
was a rare phenomenon.
What position is Ms. Kiran mazmudar in Biocon?
Kiran Mazumdar-Shaw is an Indian businesswoman and founder of Biocon, the
biotechnology company based inBangalore (Bangaluru), India. She is the
Chairperson and Managing Director of Biocon Limited, and Chairperson of
Syngene International Limited and Clinigene International Limited.
What are the process of coming to chairperson position?
In 1978, she joined Biocon Biochemicals Limited, of Cork, Ireland as a Trainee
Manager. In the same year she started Biocon in the garage of her rented house
in Bangalore with a seed capital of Rs. 10,000.
Initially, she faced credibility challenges because of her youth, gender and her
untested business model. Not only was funding a problem as no bank wanted to
lend to her, but she also found it difficult to recruit people for her start-up. With
single-minded determination she overcame these challenges only to be
confronted with the technological challenges associated with trying to build a
biotech business in a country facing infrastructural woes. Uninterrupted power,
superior quality water, sterile labs, imported research equipment, and advanced

scientific skills were not easily available in India during the time. Never one to
83
Why did we take Dr.Kiran mazmudar?
Kiran Mazumdar Shaw started her professional career as trainee brewer in
Carlton & United Beverages in 1974. In 1978, she joined as Trainee Manager
with Biocon Biochemicals Limited in Ireland. In the same year, Kiran Mazumdar
Shaw founded Biocon India in collaboration with Biocon Biochemicals Limited,
with a capital of Rs.10,000. She initially faced many problems regarding funds for
her business. Banks were hesitant to give loan to her as biotechnology was a
totally new field at that point of time and she was a woman entrepreneur, which
was a rare phenomenon.
What position is Ms. Kiran mazmudar in Biocon?
Kiran Mazumdar-Shaw is an Indian businesswoman and founder of Biocon, the
biotechnology company based inBangalore (Bangaluru), India. She is the
Chairperson and Managing Director of Biocon Limited, and Chairperson of
Syngene International Limited and Clinigene International Limited.
What are the process of coming to chairperson position?
In 1978, she joined Biocon Biochemicals Limited, of Cork, Ireland as a Trainee
Manager. In the same year she started Biocon in the garage of her rented house
in Bangalore with a seed capital of Rs. 10,000.
Initially, she faced credibility challenges because of her youth, gender and her
untested business model. Not only was funding a problem as no bank wanted to
lend to her, but she also found it difficult to recruit people for her start-up. With
single-minded determination she overcame these challenges only to be
confronted with the technological challenges associated with trying to build a
biotech business in a country facing infrastructural woes. Uninterrupted power,
superior quality water, sterile labs, imported research equipment, and advanced
scientific skills were not easily available in India during the time. Never one to
83
give up easily, she took the challenges in her stride and worked within the limiting
circumstances to take Biocon to newer and greater heights.
She is responsible for steering Biocon on a trajectory of growth and innovation
over the years. Within a year of its inception, Biocon became the first Indian
company to manufacture and export enzymes to USA and Europe. In 1989,
Biocon became the first Indian biotech company to receive US funding for
proprietary technologies. In 1990, she upgraded Biocons in-house research
program, based on a proprietary solid substrate fermentation technology. The
commercial success of this program led to a three-fold expansion by 1996 and
Biocon entered the biopharmaceuticals and statins segments. In 1997, she
undertook initiatives in human healthcare through a dedicated manufacturing

facility.
Who are the persons behind Ms. Kiran mazmudar?
For a woman to rise in the workplace, a supportive husband and family are a prerequisite. While it is true that she was single when she built Biocon, the real
growth came when she got married, and her husband has played a vital role in
their success today. They balance and complement each other: she is a scientist
and he has a strong financial background. Men need to be emotionally secure
and should not get a complex with successful partners. Her husband is a very
strong and secure human being. She is a most fortunate to have such an
understanding partner. Her husband has invested in her in every way, and
inspires her every day to build a company that will be a torchbearer for Indian
biotechnology.

84
give up easily, she took the challenges in her stride and worked within the limiting
circumstances to take Biocon to newer and greater heights.
She is responsible for steering Biocon on a trajectory of growth and innovation
over the years. Within a year of its inception, Biocon became the first Indian
company to manufacture and export enzymes to USA and Europe. In 1989,
Biocon became the first Indian biotech company to receive US funding for
proprietary technologies. In 1990, she upgraded Biocons in-house research
program, based on a proprietary solid substrate fermentation technology. The
commercial success of this program led to a three-fold expansion by 1996 and
Biocon entered the biopharmaceuticals and statins segments. In 1997, she
undertook initiatives in human healthcare through a dedicated manufacturing
facility.
Who are the persons behind Ms. Kiran mazmudar?
For a woman to rise in the workplace, a supportive husband and family are a prerequisite. While it is true that she was single when she built Biocon, the real
growth came when she got married, and her husband has played a vital role in
their success today. They balance and complement each other: she is a scientist
and he has a strong financial background. Men need to be emotionally secure
and should not get a complex with successful partners. Her husband is a very
strong and secure human being. She is a most fortunate to have such an
understanding partner. Her husband has invested in her in every way, and
inspires her every day to build a company that will be a torchbearer for Indian
biotechnology.

84
Why she get success?
She is quoted as saying, Success is about pursuing a vision with a sense of
purpose and a spirit of challenge. There are no short cut to success and there is
no substitute for hard work. I also believe success is about doing things in a
differentiated way - dare to be different so that you stand out. Biocon's byline is
The difference lies in our DNA and we all believe in it. We don't imitate other
companies but have charted our own business destiny.

Her principle for life

Do not make judgment on things, people, and issues with half information
Listen to the little drummer in you who keeps saying break free, become large,
build something memorable.
Biocons mergers and acquisitions
Biocon Ltd intends to acquire SIRO Clinpharma Pvt Ltd
Biocon Ltd acquires IDL Specialty Chem-API Bus from Gulf Oil Corp Ltd
Novozymes South Asia Pvt Ltd acquires Biocon Ltd-Enzymes Business from
Biocon Ltd

85
Why she get success?
She is quoted as saying, Success is about pursuing a vision with a sense of
purpose and a spirit of challenge. There are no short cut to success and there is
no substitute for hard work. I also believe success is about doing things in a
differentiated way - dare to be different so that you stand out. Biocon's byline is
The difference lies in our DNA and we all believe in it. We don't imitate other
companies but have charted our own business destiny.

Her principle for life

 Do not make judgment on things, people, and issues with half information
Listen to the little drummer in you who keeps saying break free, become large,
build something memorable.
Biocons mergers and acquisitions
Biocon Ltd intends to acquire SIRO Clinpharma Pvt Ltd
Biocon Ltd acquires IDL Specialty Chem-API Bus from Gulf Oil Corp Ltd
Novozymes South Asia Pvt Ltd acquires Biocon Ltd-Enzymes Business from
Biocon Ltd

85
Her leadership style
The Success mantra is Listen to the little drummer in you who keeps saying break free,
become large, build something memorable.
Strategy: Leadership is about approaching opportunity through strategy.
Motivation: Motivating Oneself
Motivating others
Mission or vision
All leaders need not be visionaries and all visionaries need not be leaders.
There can be a leader without vision but there cant be a leader without mission.
A Leaders Mission :
To inspire people
To help them share aspirations and ideas
Situational leader
A Devastating situation Personal Vs Professional Life
Biocon was busy negotiating with Danish firm Novozymes for the sale of its enzymes
business.
Her husband John Shaw was diagnosed with a cancerous lump in his kidney.
Kiran not just tended to her husband in hospital, but also made all the strategic
decisions needed for the deal.

86
Her leadership style
The Success mantra is Listen to the little drummer in you who keeps saying break free,

become large, build something memorable.

Strategy: Leadership is about approaching opportunity through strategy.
Motivation: Motivating Oneself
Motivating others
Mission or vision
All leaders need not be visionaries and all visionaries need not be leaders.
There can be a leader without vision but there cant be a leader without mission.
A Leaders Mission :
To inspire people
To help them share aspirations and ideas
Situational leader
A Devastating situation Personal Vs Professional Life
Biocon was busy negotiating with Danish firm Novozymes for the sale of its enzymes
business.
Her husband John Shaw was diagnosed with a cancerous lump in his kidney.
Kiran not just tended to her husband in hospital, but also made all the strategic
decisions needed for the deal.

86
Charismatic Leadership
The Most Influential in Bio-business person (outside Europe and USA)
Articulates the vision
Sets the high performance expectations
Conveys a new set of values
Motivational Leader
A great motivational leader in terms of both motivating herself as well as her employees
Inspired by India's software success story. This motivated her to set up Syngene.
Transcendental Leader
Doing the IMPOSSIBLE
Surface courage from FEARS
Touching the UNTOUCHABLES
Understanding the inarticulate needs Strong commitment to goals
She transcended the boundaries of self and her business.
All leaders should be passionate about their sense of purpose
Motivating Oneself
Motivating Troops
Choosing the Right People
Customer Focus
Most Admired Companies
How the Road Ahead Looks
87

Charismatic Leadership
The Most Influential in Bio-business person (outside Europe and USA)
Articulates the vision
Sets the high performance expectations
Conveys a new set of values
Motivational Leader
A great motivational leader in terms of both motivating herself as well as her employees
Inspired by India's software success story. This motivated her to set up Syngene.
Transcendental Leader
Doing the IMPOSSIBLE
Surface courage from FEARS
Touching the UNTOUCHABLES
Understanding the inarticulate needs Strong commitment to goals
She transcended the boundaries of self and her business.
All leaders should be passionate about their sense of purpose
Motivating Oneself
Motivating Troops
Choosing the Right People
Customer Focus
Most Admired Companies
How the Road Ahead Looks
87
ABOUT THE COMPANY
"Our ability to continuously scale new heights across the biopharmaceutical value
chain enables us to realise the promise of future therapeutics." -Kiran MazumdarShaw, Chairman & Managing Director
Biocon is a fully integrated healthcare company that delivers innovative
biopharmaceutical
solutions.
From
discovery
to
development
and
commercialisation, we have the defining science, cost-effective drug
development capabilities and significant manufacturing capacity to move ideas to
market.
Leveraging Indias globally competitive cost base and exceptional scientific
people resource, we are advancing our in-house R&D programs, while also
providing custom and clinical research services to international pharmaceutical

and biotechnology majors through our subsidiary companies, Syngene and

Clinigene.
Biocon has rapidly developed a robust drug pipeline, led by monoclonal
antibodies and several other molecules at exciting stages in the
biopharmaceutical value chain. With the successful commercial launch of our first
anti-cancer drug and several promising discovery partnerships in the clinic, we
remain committed to scaling new heights in frontier science and achieving new
milestones in affordable medicine.

88
ABOUT THE COMPANY
"Our ability to continuously scale new heights across the biopharmaceutical value
chain enables us to realise the promise of future therapeutics." -Kiran MazumdarShaw, Chairman & Managing Director
Biocon is a fully integrated healthcare company that delivers innovative
biopharmaceutical
solutions.
From
discovery
to
development
and
commercialisation, we have the defining science, cost-effective drug
development capabilities and significant manufacturing capacity to move ideas to
market.
Leveraging Indias globally competitive cost base and exceptional scientific
people resource, we are advancing our in-house R&D programs, while also
providing custom and clinical research services to international pharmaceutical
and biotechnology majors through our subsidiary companies, Syngene and
Clinigene.
Biocon has rapidly developed a robust drug pipeline, led by monoclonal
antibodies and several other molecules at exciting stages in the
biopharmaceutical value chain. With the successful commercial launch of our first
anti-cancer drug and several promising discovery partnerships in the clinic, we
remain committed to scaling new heights in frontier science and achieving new
milestones in affordable medicine.

88

GENERAL INFORMATION

BUSINESSES MODEL

Biocons fully integrated business model spans the entire drug value chain, from

pre-clinical discovery to clinical development and through to commercialisation.

Our businesses in custom research (Syngene), clinical development (Clinigene)
and biopharmaceuticals (Biocon) provide multiple revenue streams to balance
risk, drive innovation, deliver products and accelerate growth. As we increase the
complexity and scope of our own R&D and manufacturing operations, especially
in new product discovery and development, we believe our custom and clinical
research services will continue to offer important synergies.
89

GENERAL INFORMATION

BUSINESSES MODEL

Biocons fully integrated business model spans the entire drug value chain, from
pre-clinical discovery to clinical development and through to commercialisation.
Our businesses in custom research (Syngene), clinical development (Clinigene)
and biopharmaceuticals (Biocon) provide multiple revenue streams to balance
risk, drive innovation, deliver products and accelerate growth. As we increase the
complexity and scope of our own R&D and manufacturing operations, especially
in new product discovery and development, we believe our custom and clinical
research services will continue to offer important synergies.
89
Mission
To be an integrated biotechnology enterprise of global distinction.
Essential to this mission is excellence in:
- Intellectual asset creation through discovery, research and development
- State-of-the-art manufacturing capabilities
- Internationally benchmarked quality and regulatory systems
- New medical insight through disease specifi clinical research
- Customer relationship through outstanding products and services
- Human resource development through training, mentoring and empowering
Intellectual Profile of 5300+ Personnel
Biocon, Syngene and Clinigene together employ approximately 5300 qualified
personnel - from biologists, chemists, medical practitioners, pharmacologists,
engineers, finance/legal/marketing analysts, HR generalists to general
administrators. 6% of our employees have PhD degrees, 45% have a master's
degree in science and the remaining are graduates with a bachelor's degree in
science, commerce or arts. 13% of Biocon employees are women (across the
group). The employee attrition for Q2 2010-11 was 5.6% and last year it was
over 20%. The average age of the employee is 29 years.
90
Mission
To be an integrated biotechnology enterprise of global distinction.
Essential to this mission is excellence in:
- Intellectual asset creation through discovery, research and development
- State-of-the-art manufacturing capabilities
- Internationally benchmarked quality and regulatory systems

- New medical insight through disease specifi clinical research

- Customer relationship through outstanding products and services
- Human resource development through training, mentoring and empowering
Intellectual Profile of 5300+ Personnel
Biocon, Syngene and Clinigene together employ approximately 5300 qualified
personnel - from biologists, chemists, medical practitioners, pharmacologists,
engineers, finance/legal/marketing analysts, HR generalists to general
administrators. 6% of our employees have PhD degrees, 45% have a master's
degree in science and the remaining are graduates with a bachelor's degree in
science, commerce or arts. 13% of Biocon employees are women (across the
group). The employee attrition for Q2 2010-11 was 5.6% and last year it was
over 20%. The average age of the employee is 29 years.
90
Milestones
- Biocon is India's first biotechnology company, established in 1978
- Biocon is India's first biotechnology company to export microbial enzymes to
USA and Europe
- Biocon is the first biotechnology company to receive ISO 9001 certification in
India
- Syngene, a Biocon subsidiary, is India's first custom research company in drug
discovery
- Biocon is the first Indian company to be approved US FDA for the
manufacture of lovastatin, a cholesterol-lowering molecule
- Biocon's proprietary bioreactor, the PlaFractor, receives a US patent
- Biocon and Bayer join hands to create awareness for self monitoring for
diabetics, 2010
- Syngene and Endo Pharmaceuticals, USA to jointly discover and develop
novel biological drug molecules to fight cancer, 2010
- Biocon acquires stake of its Cuban partner CIMAB S.A. in their seven year old
JV, Biocon Biopharmaceuticals Pvt. Ltd, 2010
91
Milestones

- Biocon is India's first biotechnology company, established in 1978

- Biocon is India's first biotechnology company to export microbial enzymes to
USA and Europe
- Biocon is the first biotechnology company to receive ISO 9001 certification in
India
- Syngene, a Biocon subsidiary, is India's first custom research company in drug
discovery
- Biocon is the first Indian company to be approved US FDA for the
manufacture of lovastatin, a cholesterol-lowering molecule
- Biocon's proprietary bioreactor, the PlaFractor, receives a US patent
- Biocon and Bayer join hands to create awareness for self monitoring for
diabetics, 2010
- Syngene and Endo Pharmaceuticals, USA to jointly discover and develop
novel biological drug molecules to fight cancer, 2010
- Biocon acquires stake of its Cuban partner CIMAB S.A. in their seven year old
JV, Biocon Biopharmaceuticals Pvt. Ltd, 2010
91
PRODUCTION DEPARTMENT
PRODUCTS
Biopharmaceuticals
Active Pharmaceutical Ingredients (APIs)
Biologicals
Branded Formulations
Oncology
Dosage Forms
Services
Licensing
Biocon collaboratively develops MAbs (Monoclonal Antibodies) and other novel
drug delivery systems-based proteins either in-house or in partnership with other
companies.
Contract Manufacturing
Biocon leverages its India cost base together with its extensive expertise and
technology platforms to offer competitive, high quality, custom manufacturing

services
to
a
global
clientele.

92
PRODUCTION DEPARTMENT
PRODUCTS
Biopharmaceuticals
Active Pharmaceutical Ingredients (APIs)
Biologicals
Branded Formulations
Oncology
Dosage Forms
Services
Licensing
Biocon collaboratively develops MAbs (Monoclonal Antibodies) and other novel
drug delivery systems-based proteins either in-house or in partnership with other
companies.
Contract Manufacturing
Biocon leverages its India cost base together with its extensive expertise and
technology platforms to offer competitive, high quality, custom manufacturing
services
to
a
global
clientele.

92
Research Services
Custom Research - Syngene
Clinical Research - Clinigene
Quality
Biocon follows good manufacturing, laboratory and documentation practices that

ensure consistent high quality results. Our state-of-the-art analytical facilities

monitor and maintain strict quality of our products, processes and services,
consistently meeting, USP and other national and international quality standards.
Biocon's quality chain covers three key functional areas:
- Quality Control
- Quality Assurance
- Regulatory Affairs
Quality Control (QC) is responsible for all analyses undertaken at Biocon. From
analytical support during product development and validations to training Biocon
customers, QC is supported by a highly qualified team of professionals.
Regulatory Affairs ensures compliance with national and international
regulatory requirements.

93
Research Services
Custom Research - Syngene
Clinical Research - Clinigene
Quality
Biocon follows good manufacturing, laboratory and documentation practices that
ensure consistent high quality results. Our state-of-the-art analytical facilities
monitor and maintain strict quality of our products, processes and services,
consistently meeting, USP and other national and international quality standards.
Biocon's quality chain covers three key functional areas:
- Quality Control
- Quality Assurance
- Regulatory Affairs
Quality Control (QC) is responsible for all analyses undertaken at Biocon. From
analytical support during product development and validations to training Biocon
customers, QC is supported by a highly qualified team of professionals.
Regulatory Affairs ensures compliance with national and international
regulatory requirements.

93
HUMAN RESOURCE MANAGEMENT
An organisation is as dynamic and effective as its people. At Biocon, the vast
experience of our distinguished Board of Directors and the strategic focus of the

Key Management Team steer us towards our goals. They are amply supported
by a 3000-strong team of exemplary bioscientists, engineers and business
managers who build our intellectual capital and drive our growth.
Key Management Team
Ms. Kiran Mazumdar-Shaw
-Chairman & Managing Director Founder Entrepreneur, 1978
Mr. John Shaw
- Vice Chairman
with Biocon since 1999
Dr. Arun Chandavarkar
- Chief Operating Officer, Biocon
with Biocon since 1990
Mr. Peter Bains
- Chief Operating Officer, Biocon
with Biocon since 1990
94
HUMAN RESOURCE MANAGEMENT
An organisation is as dynamic and effective as its people. At Biocon, the vast
experience of our distinguished Board of Directors and the strategic focus of the
Key Management Team steer us towards our goals. They are amply supported
by a 3000-strong team of exemplary bioscientists, engineers and business
managers who build our intellectual capital and drive our growth.
Key Management Team
Ms. Kiran Mazumdar-Shaw
-Chairman & Managing Director Founder Entrepreneur, 1978
Mr. John Shaw
- Vice Chairman
with Biocon since 1999
Dr. Arun Chandavarkar
- Chief Operating Officer, Biocon
with Biocon since 1990
Mr. Peter Bains
- Chief Operating Officer, Biocon
with Biocon since 1990

94
Marketing Department
Biocon continues to grow its product presence in India while broadening its
footprint to emerging and developed.Our developed market foray is lead by
our highly successful German subsidiary AxiCorp. Leveraging AxiCorps well
established marketing and distribution network, we are making good progress
in preparing a range of pharmaceuticals including generics, biosimilars
tive biologics for Germany and eventuallyother EU markets.NeoBiocon, our JV
based in Dubai,represents Biocons emerging market thrust. Through
NeoBiocons marketing expertise, we have already made inroads
into the highly promising UAE market emerging markets as key growth ened our
presence in markets like Brazil,Mexico, Chile, and many countries in the Middle
East and Africa this year.Biocons India strategy is reaping rich
reward as we continue to focus on leadership in key therapies within
the domestic branded formulations segment. By building large brands,
entering more therapeutic areas and productions each year, Biocons healthcare
to millions of patients across the country.
Corporate Structure
The Biocon Group's corporate structure comprises of Biocon Limited (the Holding
Company) and its five subsidiaries, Syngene International Limited, Bangalore;
Clinigene International Limited, Bangalore; and AxiCorp GmbH, Germany. The
Biocon Group also has one joint venture company - Biocon Biopharmaceuticals
Private Limited, Bangalore and Biocon Research Limited, NeoBiocon FZ LLC,
Abu Dhabi.

95
Marketing Department
Biocon continues to grow its product presence in India while broadening its
footprint to emerging and developed.Our developed market foray is lead by
our highly successful German subsidiary AxiCorp. Leveraging AxiCorps well
established marketing and distribution network, we are making good progress
in preparing a range of pharmaceuticals including generics, biosimilars
tive biologics for Germany and eventuallyother EU markets.NeoBiocon, our JV
based in Dubai,represents Biocons emerging market thrust. Through
NeoBiocons marketing expertise, we have already made inroads
into the highly promising UAE market emerging markets as key growth ened our
presence in markets like Brazil,Mexico, Chile, and many countries in the Middle
East and Africa this year.Biocons India strategy is reaping rich

reward as we continue to focus on leadership in key therapies within

the domestic branded formulations segment. By building large brands,
entering more therapeutic areas and productions each year, Biocons healthcare
to millions of patients across the country.
Corporate Structure
The Biocon Group's corporate structure comprises of Biocon Limited (the Holding
Company) and its five subsidiaries, Syngene International Limited, Bangalore;
Clinigene International Limited, Bangalore; and AxiCorp GmbH, Germany. The
Biocon Group also has one joint venture company - Biocon Biopharmaceuticals
Private Limited, Bangalore and Biocon Research Limited, NeoBiocon FZ LLC,
Abu Dhabi.

95
FINANCE DEPARTMENT
"We are committed to delivering value to all our stakeholders. By leveraging our
proprietary products and technologies we will achieve robust growth and
sustained financial performance."
- Murali Krishnan K.N, President, Finance
Here, we feature comprehensive information on all aspects of the Company that
concern and interest the investor. From access to financial data, stock quotes,
FAQs and more, we give our existing and potential investors all relevant data and
updates on corporate governance and the overall progress of the company.
PROFIT AND LOSS ACCOUNT

2006 2007 2008 2009

2010
2005
Sales
Bio
557 603 728 787 1372 2036
Pharmaceuticals
Enzymes
90 85 95 46
-

Research
and
Technical
66 100 163 220 237
332
Licensing Fees
Total
713 788 986 1054 1609 2368
Other Income
15 5
4
36
64
37
96
FINANCE DEPARTMENT
"We are committed to delivering value to all our stakeholders. By leveraging our
proprietary products and technologies we will achieve robust growth and
sustained financial performance."
- Murali Krishnan K.N, President, Finance
Here, we feature comprehensive information on all aspects of the Company that
concern and interest the investor. From access to financial data, stock quotes,
FAQs and more, we give our existing and potential investors all relevant data and
updates on corporate governance and the overall progress of the company.
PROFIT AND LOSS ACCOUNT

2006 2007 2008 2009

2010
2005
Sales
Bio
557 603 728 787 1372 2036
Pharmaceuticals
Enzymes
90 85 95 46
Research

and
Technical
66 100 163 220 237
332
Licensing Fees
Total
713 788 986 1054 1609 2368
Other Income
15 5
4
36
64
37
96
Total Revenues
728 793 990 1090 1673 2405
Expenditure
Manufacturing & 488 557 697 748 1285 1896
Other Expenses
Interest
and
Finance
2
2
9
10
18
17
Charges
Depreciation
22 29 67 94
110
140
Total
512 588 773 852 1413 2053
Profit Before Tax
216 205 217 238 260
352

Income Tax
18 31 17 13
12
49
Profit
From 198 174 200 225 240 303
Operations
Exceptional Item, Net
239 (147) Net Profit
198 174 200 464 93
293

97
Total Revenues
728 793 990 1090 1673 2405
Expenditure
Manufacturing & 488 557 697 748 1285 1896
Other Expenses
Interest
and
Finance
2
2
9
10
18
17
Charges
Depreciation
22 29 67 94
110
140

Total
512 588 773 852 1413 2053
Profit Before Tax
216 205 217 238 260
352
Income Tax
18 31 17 13
12
49
Profit
From 198 174 200 225 240 303
Operations
Exceptional Item, Net
239 (147) Net Profit
198 174 200 464 93
293

97
BALANCE SHEET
Biocon Consolidated Financial Performance
(Rs. In Crores)
2005
2006
2007
2008
2009
2010
Share Capital

50
50
50
50
100
100
Reserves & Surplus
691
838
1019
1434
1411
1658
Minority Interest
1
3
-1
-7
25
34
Deferred Tax Liability
23
30
44
46
47
51
Secured Loans
49
68
74
135
396
332
Unsecured Loans
27
37
113
120
128
182
841
1026

1299
1778
2106
2356
Fixed Assets (Net)
578
827
915
1042
1220
1244
Intangible Assets
0
0
51
28
163
170
Investments
235
100
79
475
368
431
Inventories
74
110
161
179
319
372
Receivables
183
224
306
259
367
446
Cash & Bank balances
3
2
9
10

12
140
98
BALANCE SHEET
Biocon Consolidated Financial Performance
(Rs. In Crores)
2005
2006
2007
2008
2009
2010
Share Capital
50
50
50
50
100
100
Reserves & Surplus
691
838
1019
1434
1411
1658
Minority Interest
1
3
-1
-7
25
34
Deferred Tax Liability
23
30
44
46
47
51

Secured Loans
49
68
74
135
396
332
Unsecured Loans
27
37
113
120
128
182
841
1026
1299
1778
2106
2356
Fixed Assets (Net)
578
827
915
1042
1220
1244
Intangible Assets
0
0
51
28
163
170
Investments
235
100
79
475
368
431
Inventories

74
110
161
179
319
372
Receivables
183
224
306
259
367
446
Cash & Bank balances
3
2
9
10
12
140
98
Loans & Advances
17
24
53
87
94
134
Current Liabilities
249
261
275
300
437
580
841
1026
1299
1778
2106
2356

FUTURE OUTLOOK
"We aim to develop novel biopharmaceuticals by
leveraging our exceptional scientific talent pool
and developmental capabilities."

99
Loans & Advances
17
24
53
87
94
134
Current Liabilities
249
261
275
300
437
580
841
1026
1299
1778

2106
2356

FUTURE OUTLOOK
"We aim to develop novel biopharmaceuticals by
leveraging our exceptional scientific talent pool
and developmental capabilities."

99
SUMMARY
"Our ability to continuously scale new heights across the biopharmaceutical value
chain enables us to realise the promise of future therapeutics." -Kiran MazumdarShaw, Chairman & Managing Director
Biocon is a fully integrated healthcare company that delivers innovative
biopharmaceutical
solutions.
From
discovery
to
development
and
commercialisation, we have the defining science, cost-effective drug
development capabilities and significant manufacturing capacity to move ideas to
market.
Leveraging Indias globally competitive cost base and exceptional scientific
people resource, we are advancing our in-house R&D programs, while also

providing custom and clinical research services to international pharmaceutical

and biotechnology majors through our subsidiary companies, Syngene and
Clinigene.

100
SUMMARY
"Our ability to continuously scale new heights across the biopharmaceutical value
chain enables us to realise the promise of future therapeutics." -Kiran MazumdarShaw, Chairman & Managing Director
Biocon is a fully integrated healthcare company that delivers innovative
biopharmaceutical
solutions.
From
discovery
to
development
and
commercialisation, we have the defining science, cost-effective drug
development capabilities and significant manufacturing capacity to move ideas to
market.
Leveraging Indias globally competitive cost base and exceptional scientific
people resource, we are advancing our in-house R&D programs, while also
providing custom and clinical research services to international pharmaceutical
and biotechnology majors through our subsidiary companies, Syngene and
Clinigene.

100

5.Shahnaz Husain,
(CEO of Shahnaz
Herbals Inc)

About Shahnaz Hussain

101

5.Shahnaz Husain,
(CEO of Shahnaz
Herbals Inc)

About Shahnaz Hussain

101
She is one of the most prominent personalities of the corporate world. She is
making a constant effort to beautify the skin of people with her beauty products.
She has been continuously striving hard to slow down the aging process and
nourish the skin of people and thus make them look younger than their age. Well,
we are talking about none other than the ruler of the beauty world, Shahnaz
Hussain. In this article, we will present you with the biography of Shahnaz
Hussain.
She comes from a royal Muslim family and her father was a very powerful man.
She did her schooling from the Irish convent. Since a very young age, she had
an interest in poetry and English literature. She grew up in a traditional family, but
was privileged to receive modern education. She got married, when she was only
fifteen years old. The next year after her marriage, she became a mother.
When she went to Teheran along with her husband, she developed a keen
interest in beauty treatments. Eventually, she decided to study the cosmetology
course. She wanted to be self independent and so she began writing articles for
the Iran Tribune on varied subjects. While pursuing studies, she learnt about the
harmful effects of chemicals on human body. She studied Ayurveda.
After leaving Teheran, she took an extensive training in cosmetic therapy for a
long period of 10 years from the leading institutions of London, Paris, New York
and Copenhagen. She returned to India in the year 1977 and established her first
beauty salon in her abode. Unlike other salons, she did not use chemical
cosmetics. Rather, she made use of Ayurvedic products that are absolutely safe
on the human body. She has ushered an era of herbal cosmetics. The products
launched by her Company head their way to leading global stores such as
Blooming Dales (New York), Harrods and Selfridges (London), Seibu (Japan).
Her beauty products are very skin friendly and give a beautiful glowing look. She
has not only been able to tap the markets of India, but made her presence felt in
102
She is one of the most prominent personalities of the corporate world. She is
making a constant effort to beautify the skin of people with her beauty products.
She has been continuously striving hard to slow down the aging process and
nourish the skin of people and thus make them look younger than their age. Well,
we are talking about none other than the ruler of the beauty world, Shahnaz
Hussain. In this article, we will present you with the biography of Shahnaz
Hussain.

She comes from a royal Muslim family and her father was a very powerful man.
She did her schooling from the Irish convent. Since a very young age, she had
an interest in poetry and English literature. She grew up in a traditional family, but
was privileged to receive modern education. She got married, when she was only
fifteen years old. The next year after her marriage, she became a mother.
When she went to Teheran along with her husband, she developed a keen
interest in beauty treatments. Eventually, she decided to study the cosmetology
course. She wanted to be self independent and so she began writing articles for
the Iran Tribune on varied subjects. While pursuing studies, she learnt about the
harmful effects of chemicals on human body. She studied Ayurveda.
After leaving Teheran, she took an extensive training in cosmetic therapy for a
long period of 10 years from the leading institutions of London, Paris, New York
and Copenhagen. She returned to India in the year 1977 and established her first
beauty salon in her abode. Unlike other salons, she did not use chemical
cosmetics. Rather, she made use of Ayurvedic products that are absolutely safe
on the human body. She has ushered an era of herbal cosmetics. The products
launched by her Company head their way to leading global stores such as
Blooming Dales (New York), Harrods and Selfridges (London), Seibu (Japan).
Her beauty products are very skin friendly and give a beautiful glowing look. She
has not only been able to tap the markets of India, but made her presence felt in
102
international market too. Now, her aim is to set her foothold in the space. People
who go to space usually suffer from skin problems. At present, Shahnaz Hussain
is focusing her attention on creating products that can prove to be beneficial for
the astronauts. To know the complete life history of Shahnaz Hussain, read on.
Her company Shahnaz Hussain Herbals has witnessed tremendous growth
throughout these years. She has launched more than 400 different kinds of
beauty products. In the contemporary times, people are becoming more and
more conscious about the way they look.

Why did we take Shahnaz hussain?

Shahnaz Husain, the woman who had the burning desire to recapture an ancient
heritage and make it relevant to modern demands, the woman with relentless
determination, courage and a crusaders zeal, is rightly honored as the most
successful Indian entrepreneur, as she markets the most sought after product in
the world; which is 'beauty'. All her products are sold as hot bread all around the
globe. She claims that she does not cell mere cosmetics but it is the rich Indian

civilization that is marketed by her. It is high time for every woman to be grateful
to Shahnaz Husain for it is only this women who wipes away the wrinkles from
your faces, it is she who helps you to look like in 20s when you are in 50s, and it
is only she who makes you farer than a European women when actually your
complexion exactly matches a coal piece.

What position Ms. Shahnaz hussain in her company?

103
international market too. Now, her aim is to set her foothold in the space. People
who go to space usually suffer from skin problems. At present, Shahnaz Hussain
is focusing her attention on creating products that can prove to be beneficial for
the astronauts. To know the complete life history of Shahnaz Hussain, read on.
Her company Shahnaz Hussain Herbals has witnessed tremendous growth
throughout these years. She has launched more than 400 different kinds of
beauty products. In the contemporary times, people are becoming more and
more conscious about the way they look.

Why did we take Shahnaz hussain?

Shahnaz Husain, the woman who had the burning desire to recapture an ancient
heritage and make it relevant to modern demands, the woman with relentless
determination, courage and a crusaders zeal, is rightly honored as the most
successful Indian entrepreneur, as she markets the most sought after product in
the world; which is 'beauty'. All her products are sold as hot bread all around the
globe. She claims that she does not cell mere cosmetics but it is the rich Indian
civilization that is marketed by her. It is high time for every woman to be grateful
to Shahnaz Husain for it is only this women who wipes away the wrinkles from
your faces, it is she who helps you to look like in 20s when you are in 50s, and it
is only she who makes you farer than a European women when actually your
complexion exactly matches a coal piece.

What position Ms. Shahnaz hussain in her company?

103
Shahnaz Husain, CEO of Shahnaz Herbals Inc, is a prominent Indian female
entrepreneur

best
known
for
her herbal
cosmetics,
particularly skin
care products. Currently, the Shahnaz Husain Group has over 400 franchise
clinics across the world covering over 138 countries. He.She has been awarded
the Padma Shri, a civilian award by the Government of Indiain 2006, and
Success Magazine's "World's Greatest Woman Entrepreneur" award in 1996.
What is the process of coming at CEO position?
When she went to Teheran along with her husband, she developed a keen
interest in beauty treatments. Eventually, she decided to study the cosmetology
course. She wanted to be self independent and so she began writing articles for
the Iran Tribune on varied subjects. While pursuing studies, she learnt about the
harmful effects of chemicals on human body. She studied Ayurveda and believed
that it is the best alternative to chemical cosmetics.
After leaving Teheran, she took an extensive training in cosmetic therapy for a
long period of 10 years from the leading institutions of London, Paris, New York
and Copenhagen. She returned to India in the year 1977 and established her first
beauty salon in her Home. Unlike other salons, she did not use chemical
cosmetics. Rather, she made use of Ayurvedic products that are absolutely safe
on the human body. She has ushered an era of herbal cosmetics. The products
launched by her Company head their way to leading global stores such as
Blooming Dales (New York), Harrods and Selfridges (London), Seibu (Japan),
Galleries Lafayette (Paris), and La Rinaeccente (Milan).
Her company Shahnaz Husain Herbals has witnessed tremendous growth
throughout these years. She has launched more than 400 different kinds of
beauty products. In the contemporary times, people are becoming more and
more conscious about the way they look. It is here that Shahnaz Hussain comes
104
Shahnaz Husain, CEO of Shahnaz Herbals Inc, is a prominent Indian female
entrepreneur
best
known
for
her herbal
cosmetics,
particularly skin
care products. Currently, the Shahnaz Husain Group has over 400 franchise

clinics across the world covering over 138 countries. He.She has been awarded
the Padma Shri, a civilian award by the Government of Indiain 2006, and
Success Magazine's "World's Greatest Woman Entrepreneur" award in 1996.
What is the process of coming at CEO position?
When she went to Teheran along with her husband, she developed a keen
interest in beauty treatments. Eventually, she decided to study the cosmetology
course. She wanted to be self independent and so she began writing articles for
the Iran Tribune on varied subjects. While pursuing studies, she learnt about the
harmful effects of chemicals on human body. She studied Ayurveda and believed
that it is the best alternative to chemical cosmetics.
After leaving Teheran, she took an extensive training in cosmetic therapy for a
long period of 10 years from the leading institutions of London, Paris, New York
and Copenhagen. She returned to India in the year 1977 and established her first
beauty salon in her Home. Unlike other salons, she did not use chemical
cosmetics. Rather, she made use of Ayurvedic products that are absolutely safe
on the human body. She has ushered an era of herbal cosmetics. The products
launched by her Company head their way to leading global stores such as
Blooming Dales (New York), Harrods and Selfridges (London), Seibu (Japan),
Galleries Lafayette (Paris), and La Rinaeccente (Milan).
Her company Shahnaz Husain Herbals has witnessed tremendous growth
throughout these years. She has launched more than 400 different kinds of
beauty products. In the contemporary times, people are becoming more and
more conscious about the way they look. It is here that Shahnaz Hussain comes
104
to play a major role by providing people with products that can bring the glow
back to their skin.
Her education
She did her schooling from the Irish convent. Since a very young age, she had
an interest in poetry and English literature. She grew up in a traditional family, but
was privileged to receive modern education.
she took an extensive training in cosmetic therapy for a long period of 10 years
from the leading institutions of London, Paris, New York and Copenhagen.
Why she get success?
She is one of the most prominent personalities of the corporate world. She is
making a constant effort to beautify the skin of people with her beauty products.

She has been continuously striving hard to slow down the aging process and
nourish the skin of people and thus make them look younger than their age. Well,
we are talking about none other than the ruler of the beauty world, Shahnaz
Hussain.
Her company Shahnaz Husain Herbals has witnessed tremendous growth
throughout these years. She has launched more than 400 different kinds of
beauty products. In the contemporary times, people are becoming more and
more conscious about the way they look. It is here that Shahnaz Hussain comes
to play a major role by providing people with products that can bring the glow
back to their skin.
Company Profile
105
to play a major role by providing people with products that can bring the glow
back to their skin.
Her education
She did her schooling from the Irish convent. Since a very young age, she had
an interest in poetry and English literature. She grew up in a traditional family, but
was privileged to receive modern education.
she took an extensive training in cosmetic therapy for a long period of 10 years
from the leading institutions of London, Paris, New York and Copenhagen.
Why she get success?
She is one of the most prominent personalities of the corporate world. She is
making a constant effort to beautify the skin of people with her beauty products.
She has been continuously striving hard to slow down the aging process and
nourish the skin of people and thus make them look younger than their age. Well,
we are talking about none other than the ruler of the beauty world, Shahnaz
Hussain.
Her company Shahnaz Husain Herbals has witnessed tremendous growth
throughout these years. She has launched more than 400 different kinds of
beauty products. In the contemporary times, people are becoming more and
more conscious about the way they look. It is here that Shahnaz Hussain comes
to play a major role by providing people with products that can bring the glow
back to their skin.
Company Profile
105

The Shahnaz Husain Group is India's leading company in the field of natural
beauty and anti-aging treatments. Started in the 1970s by Shahnaz Husain in
New Delhi, the group has over time vertically integrated to encompass every
aspect of Ayurvedic care and cure. The group has activities as diverse as beauty
training institutes, growing of its own herbs to manufacturing of its cosmetics line
to retail to specialized treatments through its chain of over 200 beauty centers
worldwide. The group has received many an accolade, the most recent of which
was when it's Chairperson, Shahnaz Husain, won India's highest honor, the
Padma Shree, in the field of Industry and trade for bringing Ayurveda to the
West.
In 1996 Success Magazine, one of the worlds most well-respected business
publications, named Shahnaz Husain the Woman of the Year and estimated the
brand's worth at over $100 million. This number has grown many times since
then.
We remain a completely private company, with no outside shareholders.
INTERNATIONAL BUSINESS
Shahnaz Husain products are exported worldwide. During the last three decades,
we have acquired a tremendous global presence, having sold at prestigious
stores, like Galeries Lafayette (Paris), Harrods and Selfridges (London), the
Seibu chain in Japan, Bloomingdales (New York), La Rinascente in Milan (Italy),
as well as exclusive outlets and clinics all over the world.
While we have exclusive partners in certain regions, we are actively seeking
business partners in most parts of the world.
Products
106
The Shahnaz Husain Group is India's leading company in the field of natural
beauty and anti-aging treatments. Started in the 1970s by Shahnaz Husain in
New Delhi, the group has over time vertically integrated to encompass every
aspect of Ayurvedic care and cure. The group has activities as diverse as beauty
training institutes, growing of its own herbs to manufacturing of its cosmetics line
to retail to specialized treatments through its chain of over 200 beauty centers
worldwide. The group has received many an accolade, the most recent of which
was when it's Chairperson, Shahnaz Husain, won India's highest honor, the
Padma Shree, in the field of Industry and trade for bringing Ayurveda to the
West.
In 1996 Success Magazine, one of the worlds most well-respected business
publications, named Shahnaz Husain the Woman of the Year and estimated the
brand's worth at over $100 million. This number has grown many times since
then.
We remain a completely private company, with no outside shareholders.
INTERNATIONAL BUSINESS
Shahnaz Husain products are exported worldwide. During the last three decades,
we have acquired a tremendous global presence, having sold at prestigious

stores, like Galeries Lafayette (Paris), Harrods and Selfridges (London), the
Seibu chain in Japan, Bloomingdales (New York), La Rinascente in Milan (Italy),
as well as exclusive outlets and clinics all over the world.
While we have exclusive partners in certain regions, we are actively seeking
business partners in most parts of the world.
Products
106
1) Diamond Range
2) Chocolate Range
3) Saffron Range
4) Slimming Range
5) Gold
6) Pearl
7) Herbal
8) Hair Care
9) Sun collection
10) Cosmetics
11) Man Power Range
12)Himalaya Range

Training Institutes
107
1) Diamond Range
2) Chocolate Range
3) Saffron Range
4) Slimming Range
5) Gold
6) Pearl
7) Herbal
8) Hair Care
9) Sun collection
10) Cosmetics
11) Man Power Range
12)Himalaya Range

Training Institutes
107

Over the last three decades, Shahnaz Husains Beauty Institutes have remained
committed to excellence in vocational training in beauty by offering professional
courses of the highest order, tailored to suit the changing demands of the beauty
business. Students have the benefit of theoretical approaches in skin and hair
health, body care, as well as the latest techniques in practical skills. They enable
students to obtain professional qualifications, in keeping with international
standards, opening up a vista of career opportunities.
The following courses are available at Shahnaz Husain:
Diploma in Beauty Therapy
Post Graduate Diploma - Skin and Beauty Therapy
Short-Term Vocational Courses

The Shahnaz Husain Franchise

108
Over the last three decades, Shahnaz Husains Beauty Institutes have remained
committed to excellence in vocational training in beauty by offering professional
courses of the highest order, tailored to suit the changing demands of the beauty
business. Students have the benefit of theoretical approaches in skin and hair
health, body care, as well as the latest techniques in practical skills. They enable
students to obtain professional qualifications, in keeping with international
standards, opening up a vista of career opportunities.
The following courses are available at Shahnaz Husain:
Diploma in Beauty Therapy
Post Graduate Diploma - Skin and Beauty Therapy
Short-Term Vocational Courses

The Shahnaz Husain Franchise

108
The Shahnaz Husain Group runs the largest chain of beauty parlors in the
country. We currently have over 200 franchisees, for both our parlors as well as
our training institutes. Our unique approach to beauty has made our parlors the
most successful in the country.
Requirements of becoming a franchisee
A commitment to excellence
Entrepreneurial spirit
Financial stability
A passion to succeed.
An investment capability of Rs. 20 lacs
Their Support
Equipment
Site Selection.
Project Management
Layout & Interiors planning.
Recruitment & Training.
Interiors planning.
Launch Planning.
Marketing communications. (National & Local area)
IT / Software support.
Standard Operating procedures.
Treatment consumables at competitive rates.
Trouble shooting and hand holding
Financing support through our tie-up with SBI
Franchise Department
901-903 International Trade Tower,
109
The Shahnaz Husain Group runs the largest chain of beauty parlors in the
country. We currently have over 200 franchisees, for both our parlors as well as
our training institutes. Our unique approach to beauty has made our parlors the
most successful in the country.
Requirements of becoming a franchisee
A commitment to excellence
Entrepreneurial spirit
Financial stability
A passion to succeed.
An investment capability of Rs. 20 lacs
Their Support
Equipment
Site Selection.
Project Management
Layout & Interiors planning.

 Recruitment & Training.

Interiors planning.
Launch Planning.
Marketing communications. (National & Local area)
IT / Software support.
Standard Operating procedures.
Treatment consumables at competitive rates.
Trouble shooting and hand holding
Financing support through our tie-up with SBI
Franchise Department
901-903 International Trade Tower,
109
Nehru Place,
New Delhi - 110019 India
Phone: + 91 11 26468301-10
Fax: +91 11 26468310
AWARDS OF SHAHNAZ HUSSAIN
Shahnaz Hussain wins business award
Herbal cosmetic queen Shahnaz Husain has been conferred the 2005 Top
CEO and the Ayurvedic Ambassador Award by the Delhi-based Institute of
Marketing and Management.
The 56-year-old beauty treatment guru was presented the award at a
ceremony at the India Habitat Centre Saturday.
Husain runs one of the world's biggest herbal product companies worth
around $100 million, with more than 450 products of royal Mughal origin,
Husain has promoted Indian herbals for more than 30 years, and has
garnered several high-placed clients like the late novelist Barbara Cartland
and the late Princess Diana.
"The Arch of Europe Gold Star for Quality"
"The 2000 Millennium Medal of Honor"
"Rajiv Gandhi Sadbhavana Award" and many more.
Summary
110
Nehru Place,
New Delhi - 110019 India
Phone: + 91 11 26468301-10
Fax: +91 11 26468310
AWARDS OF SHAHNAZ HUSSAIN
Shahnaz Hussain wins business award

Herbal cosmetic queen Shahnaz Husain has been conferred the 2005 Top
CEO and the Ayurvedic Ambassador Award by the Delhi-based Institute of
Marketing and Management.
The 56-year-old beauty treatment guru was presented the award at a
ceremony at the India Habitat Centre Saturday.
Husain runs one of the world's biggest herbal product companies worth
around $100 million, with more than 450 products of royal Mughal origin,
Husain has promoted Indian herbals for more than 30 years, and has
garnered several high-placed clients like the late novelist Barbara Cartland
and the late Princess Diana.
"The Arch of Europe Gold Star for Quality"
"The 2000 Millennium Medal of Honor"
"Rajiv Gandhi Sadbhavana Award" and many more.
Summary
110
Shahnaz Husain is both the pioneer and the undisputed queen of herbal care in
India. Thirty-four years ago Shahnaz dreamt of pioneering the Indian herbal
heritage and Ayurveda, taking them far beyond the boundaries of her country
and achieving the kind of international acclaim that has surpassed her wildest
dreams. Today, she heads an organization that is the largest of its kind in the
world, with an integrated system of an international salon chain, supported by
product ranges. Shahnaz belongs to a royal family, who originally came from
Samarkhand and later held prominent positions in the royal governments of
Bhopal and Hyderabad, during the pre-independence days. It is also a family of
eminent legal luminaries. Shahnaz had to comply with existing traditions and
entered into an arranged marriage at the tender age of 15, becoming a mother by
the time she was 16. She was fortunate to have a broadminded, Oxfordeducated father, Chief Justice N.U. Beg, who put her through schooling in an
Irish convent and instilled in her a love of poetry and English literature. He also
imbued in her the right combination of traditional values and progressive ideas
and Shahnaz learnt to love and respect the rich heritage of India. It was her
extraordinary personal qualities that made her determined to emerge from a
sheltered and secure life and venture into a totally different world of
entrepreneurship, where she had to wage a lone battle to fulfil her dreams. When
Shahnaz returned to India, after training for 10 years in cosmetology and
cosmetic chemistry, in some of the leading institutions in London, New York,
Paris and Copenhagen, she started her own herbal salon for skin and hair care.
Instead of following the existing salon treatment methods, she decided to adopt
the principle of 'Natural Care and Cure' and to apply the Ayurvedic system and
formulate custom-made products for skin and hair problems. Today, the Shahnaz
Husain Group is engaged in the formulation and marketing of over four hundred
Ayurvedic formulations for skin, hair and body care, which have not only become

widely known, but have received unprecedented international acclaim.

111
Shahnaz Husain is both the pioneer and the undisputed queen of herbal care in
India. Thirty-four years ago Shahnaz dreamt of pioneering the Indian herbal
heritage and Ayurveda, taking them far beyond the boundaries of her country
and achieving the kind of international acclaim that has surpassed her wildest
dreams. Today, she heads an organization that is the largest of its kind in the
world, with an integrated system of an international salon chain, supported by
product ranges. Shahnaz belongs to a royal family, who originally came from
Samarkhand and later held prominent positions in the royal governments of
Bhopal and Hyderabad, during the pre-independence days. It is also a family of
eminent legal luminaries. Shahnaz had to comply with existing traditions and
entered into an arranged marriage at the tender age of 15, becoming a mother by
the time she was 16. She was fortunate to have a broadminded, Oxfordeducated father, Chief Justice N.U. Beg, who put her through schooling in an
Irish convent and instilled in her a love of poetry and English literature. He also
imbued in her the right combination of traditional values and progressive ideas
and Shahnaz learnt to love and respect the rich heritage of India. It was her
extraordinary personal qualities that made her determined to emerge from a
sheltered and secure life and venture into a totally different world of
entrepreneurship, where she had to wage a lone battle to fulfil her dreams. When
Shahnaz returned to India, after training for 10 years in cosmetology and
cosmetic chemistry, in some of the leading institutions in London, New York,
Paris and Copenhagen, she started her own herbal salon for skin and hair care.
Instead of following the existing salon treatment methods, she decided to adopt
the principle of 'Natural Care and Cure' and to apply the Ayurvedic system and
formulate custom-made products for skin and hair problems. Today, the Shahnaz
Husain Group is engaged in the formulation and marketing of over four hundred
Ayurvedic formulations for skin, hair and body care, which have not only become
widely known, but have received unprecedented international acclaim.
111
Shahnaz became the first and only woman in 107 years to receive the World's
Greatest Woman Entrepreneur Award from Success magazine of the USA. The
Shahnaz Husain Group has also received several international awards for
Quality, including the Global Quality Management Award for Quality Excellence
and Outstanding Woman Entrepreneur 2002, in London. In September 2003,
Shahnaz was selected for the prestigious Global Indian "Woman of the
Millenium" Award, presented by Global Indian Congress, based in California,
USA.

CONCLUSION
112
Shahnaz became the first and only woman in 107 years to receive the World's
Greatest Woman Entrepreneur Award from Success magazine of the USA. The
Shahnaz Husain Group has also received several international awards for
Quality, including the Global Quality Management Award for Quality Excellence
and Outstanding Woman Entrepreneur 2002, in London. In September 2003,
Shahnaz was selected for the prestigious Global Indian "Woman of the
Millenium" Award, presented by Global Indian Congress, based in California,
USA.

CONCLUSION
112
India is brimming with the success stories of women. These women
leaders are assertive, persuasive and willing to take risks. They managed to
survive and succeed in this cut throat competition with their hardwork, diligence
and perseverance.Ability to learn quickly from her abilities, her persuasiveness,
open style of problem solving, willingness to take risks and chances, ability to
motivate people, knowing how to win and lose gracefully are the of the Indian
women entrepreneurs.
In a recent survey it is revealed that the female entrepreneurs from India
are generating more wealth than the women in any part of the world. The
basicqualities required for entrepreneurs and the basic characters of Indian
women, reveal that, much potential is available among the Indian women on their
entrepreneurial ability. This potential is to be recognized, brought out and

exposed for utilization in productive and service sectors for the development of
the nation.
Most successful women entrepreneurs possess the following
traits
She is ambitious
A successful woman entrepreneur is extremely ambitious, has an inner urge or
drive to transform an idea into reality. Experience from her previous tenure as an
employee, relying on educational qualifications or lessons learnt from inherited
business, she is ready to seize opportunities, sets goal, possess clear vision,
steps confidently forward and is ambitious to succeed. Every successful woman
entrepreneur is truly determined to achieve goals and make her business
flourish. In-depth knowledge of the field is essential to success. She comes with
new innovative solutions to old problems to tide over issues.
She is confident
113
India is brimming with the success stories of women. These women
leaders are assertive, persuasive and willing to take risks. They managed to
survive and succeed in this cut throat competition with their hardwork, diligence
and perseverance.Ability to learn quickly from her abilities, her persuasiveness,
open style of problem solving, willingness to take risks and chances, ability to
motivate people, knowing how to win and lose gracefully are the of the Indian
women entrepreneurs.
In a recent survey it is revealed that the female entrepreneurs from India
are generating more wealth than the women in any part of the world. The
basicqualities required for entrepreneurs and the basic characters of Indian
women, reveal that, much potential is available among the Indian women on their
entrepreneurial ability. This potential is to be recognized, brought out and
exposed for utilization in productive and service sectors for the development of
the nation.
Most successful women entrepreneurs possess the following
traits
She is ambitious
A successful woman entrepreneur is extremely ambitious, has an inner urge or
drive to transform an idea into reality. Experience from her previous tenure as an
employee, relying on educational qualifications or lessons learnt from inherited
business, she is ready to seize opportunities, sets goal, possess clear vision,
steps confidently forward and is ambitious to succeed. Every successful woman
entrepreneur is truly determined to achieve goals and make her business
flourish. In-depth knowledge of the field is essential to success. She comes with
new innovative solutions to old problems to tide over issues.
She is confident
113
A successful woman entrepreneur is confident in her ability. She is ready to learn
from others, seek help from experts if it means adding value to her goals. She is

optimistic and is more willing to take risks. A successful woman entrepreneur

uses common sense to make sound judgements when encountering everyday
situations. This is gleaned from past experience and knowledge acquired over
the years. It is essential not to get frustrated and give up when you face
obstacles and trials ? a part of setting up any business venture. The ability to
explore uncharted territories and take bold decisions is the hallmark of a
successful woman entrepreneur. A successful woman usually loves what she
does. She is extremely passionate about her tasks and activities. Her high
energy levels motivate her to contribute immensely towards building, establishing
and maintaining a thriving business.
She is open and willing to learn
A successful woman entrepreneur keeps abreast of changes, as she is fully
aware of the importance of evolving changes. She is ahead of her competitors
and thrives on changes. She adapts her business to changes in technology or
service expectations of her clients. She is curious, interested to learn and
accommodative to innovations.
She is cost conscious
A successful woman entrepreneur prepares realistic budget estimates. She
provides cost-effective quality services to her clients. With minimized cost of
operations, she is able to drive her team to maximize profits and reap its
benefits.
She values teamwork and loyalty
She has the ability to work with all levels of people. She is keen on maintaining
relationships and communicates clearly and effectively. This helps her to
114
A successful woman entrepreneur is confident in her ability. She is ready to learn
from others, seek help from experts if it means adding value to her goals. She is
optimistic and is more willing to take risks. A successful woman entrepreneur
uses common sense to make sound judgements when encountering everyday
situations. This is gleaned from past experience and knowledge acquired over
the years. It is essential not to get frustrated and give up when you face
obstacles and trials ? a part of setting up any business venture. The ability to
explore uncharted territories and take bold decisions is the hallmark of a
successful woman entrepreneur. A successful woman usually loves what she
does. She is extremely passionate about her tasks and activities. Her high
energy levels motivate her to contribute immensely towards building, establishing
and maintaining a thriving business.
She is open and willing to learn
A successful woman entrepreneur keeps abreast of changes, as she is fully
aware of the importance of evolving changes. She is ahead of her competitors
and thrives on changes. She adapts her business to changes in technology or
service expectations of her clients. She is curious, interested to learn and

accommodative to innovations.
She is cost conscious
A successful woman entrepreneur prepares realistic budget estimates. She
provides cost-effective quality services to her clients. With minimized cost of
operations, she is able to drive her team to maximize profits and reap its
benefits.
She values teamwork and loyalty
She has the ability to work with all levels of people. She is keen on maintaining
relationships and communicates clearly and effectively. This helps her to
114
negotiate even sensitive issues easily. She is empathetic to people around her
and possess good networking skills that help her to expand contacts and make
use of opportunities.
She can balance home and work
Cautious of not becoming a workaholic, a successful woman entrepreneur is
good at balancing diverse aspects of life. Her multi-tasking ability combined with
support from spouse and family members enables her to blend business
priorities with family and household responsibilities efficiently and effectively.
She is conscious of her responsibility to society
A successful woman entrepreneur is willing to share her success with the
society. She is committed to help others and enjoys doing it.
It is no wonder that millions of aspiring woman entrepreneurs admire Oprah
Winfrey for her entrepreneurial skills, business achievements, and commitment
to philanthropy. A woman can choose self-owned business as her career choice
provided she is to ready to face the challenges that lie ahead of her, ready to
walk the extra mile and ready to rely on her own vast resources and abilities.
Despite difficult economic times, what makes the rising trend of successful
women entrepreneurs so encouraging is that most women seem to innately
possess entrepreneurial traits, as shown in the table below:

115
negotiate even sensitive issues easily. She is empathetic to people around her
and possess good networking skills that help her to expand contacts and make
use of opportunities.
She can balance home and work
Cautious of not becoming a workaholic, a successful woman entrepreneur is

good at balancing diverse aspects of life. Her multi-tasking ability combined with
support from spouse and family members enables her to blend business
priorities with family and household responsibilities efficiently and effectively.
She is conscious of her responsibility to society
A successful woman entrepreneur is willing to share her success with the
society. She is committed to help others and enjoys doing it.
It is no wonder that millions of aspiring woman entrepreneurs admire Oprah
Winfrey for her entrepreneurial skills, business achievements, and commitment
to philanthropy. A woman can choose self-owned business as her career choice
provided she is to ready to face the challenges that lie ahead of her, ready to
walk the extra mile and ready to rely on her own vast resources and abilities.
Despite difficult economic times, what makes the rising trend of successful
women entrepreneurs so encouraging is that most women seem to innately
possess entrepreneurial traits, as shown in the table below:

115
Women
Entrepreneurs
Passionate, creative
Ambitious, innovative
Curious
Open to new things, seeks out help and advice
Values
relationships, Values teamwork, communication, a good netempathetic, loves to talk
worker
Balances
home
and
work Multi-tasks, delegates
responsibilities
Sharing, giving
Committed
to
helping
others
succeed,
conscious of social responsibility
The combination of historical and contemporary women entrepreneur successes
and the entrepreneurial traits that women possess can only serve as further

inspiration and motivation for women with a vision to succeed.

BIBLIOGRAPHY
http://www.balajitelefilms.com
http://kapoorekta.com
http://www.forbes.com
116
Women
Entrepreneurs
Passionate, creative
Ambitious, innovative
Curious
Open to new things, seeks out help and advice
Values
relationships, Values teamwork, communication, a good netempathetic, loves to talk
worker
Balances
home
and
work Multi-tasks, delegates
responsibilities
Sharing, giving
Committed
to
helping
others
succeed,
conscious of social responsibility
The combination of historical and contemporary women entrepreneur successes
and the entrepreneurial traits that women possess can only serve as further
inspiration and motivation for women with a vision to succeed.

BIBLIOGRAPHY
http://www.balajitelefilms.com
http://kapoorekta.com
http://www.forbes.com
116

http://www.india-forums.com
http://connect.in.com/
http://en.wikipedia.org
http://timesofindia.indiatimes.com
http://www.mapsofindia.com
http://www.pepsico.com/
http://www.thermaxindia.com/
http://www.biocon.com/
http://www.shahnaz.in

117
http://www.india-forums.com
http://connect.in.com/
http://en.wikipedia.org
http://timesofindia.indiatimes.com
http://www.mapsofindia.com
http://www.pepsico.com/
http://www.thermaxindia.com/
http://www.biocon.com/
http://www.shahnaz.in

117