April 11, 2005
Outlook Money Award
As part of its objective of helping individuals to “invest well, borrow wisely and spend smartly”, Outlook Money, India’s first personal finance magazine, instituted the annual Outlook Money Awards in 2002, with an objective to take note of the extraordinary achievements of organisations in facilitating wealth creation while protecting individual interests, through five different awards presented to the winning organisations. One such honour, the Value Creator Award is presented to a company listed on one of the premier stock exchanges (BSE or NSE) with excellent track record of generating returns on equity investments (ROE) and growing sales and profits consistently while following investor friendly and good governance practices.
It is a matter of pride for Tata Sponge Iron Ltd. to be declared runner-up for the Value Creator award for the year 2004 under the category “Best Young Value Creator – small size”. Mr. Ashok Pandit, Managing Director, received the award from Mr. Kamal Nath, Union Minister for Commerce & Industry on 4th April 2005 at a function held in Mumbai.
Creating shareholder value has always been of high priority to Tata Sponge which is substantiated by its financial results and profits consistently delivered over several years under all economic conditions, thus establishing credence in the minds of its shareholders who are investing in Tata Sponge.