Havmor Ice Cream Ltd. Now in New Delhi

   

~ Announces Investment of INR 100 crore and New Manufacturing Facility

~ Expands presence in New Delhi with 160+ Flavors & 35 Exclusive Ice Cream Parlors

Delhi, May 17, 2016: Havmor Ice Cream, India’s leading 100% pure milk ice cream brand that has delighted many with its delicious offerings since 1944, today announced its entry in New Delhi and North India. Havmor will be available in New Delhi and the surrounding states with a diverse range of ice creams giving North India a smooth and creamy taste to relish. The brand will invest INR 100 crores over the next 36 months which included a new state-of-the-art manufacturing facility in Faridabad and a production capacity of 1 lac litres of ice cream per day. This new facility will increase an overall production capacity to 3.5 lac liters of ice cream per day.

Havmor’s strategic business focus and growth plan aims at exploring newer markets and strengthening its presence across India with an aggressive expansion plan which includes over 100 ice cream parlors and 10,000 retail outlets. Havmor continues to provide 100% pure milk ice cream for the last 40 years, while the Indian Industry has moved towards Frozen Dessert, a substitute made out of vegetable oils. Havmor’s diverse range of products includes first of its kind flavors like saffron pinenuts, paan, whisky and a Chotta Bheem range targeting all segments of consumers from kids to adults.

Commenting on the new market entry and diverse range of innovative products, Mr. Pradeep Chona, Chairman & Managing Director, Havmor Ice Cream Ltd said, “We are happy to announce Havmor’s 8th market in India. We will introduce a diverse range of pure ice creams especially for consumers in Delhi taking into consideration the rich history & mouth-watering food as well as high consumption of ice cream. With Havmor, they will now enjoy pure and creamy varieties of unique flavors. We are confident that within no time, Havmor will reach every part of the city; gradually capturing the taste buds across North India.”

The INR 100 crores new state-of-the-art ice cream manufacturing facility at Faridabad aims to complete the first phase by December 2016.  The facility will manage a complete range of pure ice creams using milk as the main ingredient and maintaining the highest quality standards. In addition to the two plants in Gujarat, the new manufacturing facility will streamline the production as well as efficient distribution across the northern market.

Commenting on the growth and expansion plan, Mr. Ankit Chona, Managing Director, Havmor Ice Cream Ltd. said, “We are excited to be in New Delhi. As part of our exclusive retail expansion, we are planning to open 10 exclusive ice cream parlors in New Delhi by June 2016 and another 25 by the end of the year.  We are one of the fastest growing ice cream brands in India and we see huge opportunity for growth in the pure ice cream segment. The group has grown to INR 450 crore in the last fiscal and aims to increase the turnover to INR 1000 crore by 2020.  

He further added “The ice cream industry in India is expected to grow to INR 7000 crore by 2018 and with our new product launches  this summer, we aim at indulging our newer markets with new flavors by treating them with pure, fresh and creamy Havmor ice creams made with 100% pure milk.”

Currently with over 30,000 retail outlets & with a strong presence in Maharashtra, Rajasthan, Madhya Pradesh, Goa & Telangana, Havmor will aggressively expand its operations through various retail partnership and ice cream parlors across the northern region.

Today, Havmor has 160+ ice cream varieties and ranges under its portfolio; which includes Premium Range, Signature Range, Blockbuster, Turbo Cones, 98% Fat Free, 100% Sugar Free, Ice Cream Cakes & Pastries, Ice Cream Sandwich, Assorted Candies, Ready to Eat Cups, Novelties, Bulk Packs, Combo Packs, etc.

Havmor Ice Cream is available in various packs and price range starting at INR 10 to INR 350.

About Havmor:

Havmor, a renowned ice cream & food brand headquartered in Ahmedabad, Gujarat has delighted many with its 30,000+ ice cream outlets spread across Maharashtra, Rajasthan, Madhya Pradesh, Goa, Delhi, Punjab & Telangana apart from Gujarat and it will soon spread pan India. Havmor offers a wide range of over 160 ice creams, each manufactured at its hi-tech plants which are ISO 22000:2005 certified. Havmor has also been honoured with prestigious Times Food Award for being the best ice cream brand for eight consecutive years! It recently won the maximum number of awards in “The Great Indian Ice Cream Contest 2016” organized by Danisco Dupont in Delhi.

Nihar Shanti Amla unveils latest campaign ‘Dikho Khoobsurat, Karo Khoobsurat’ conceptualized by BBH India

The campaign features brand ambassador Vidya Balan

Mumbai, May 17, 2016: Nihar Naturals Shanti Amla, one of the fastest growing hair oil brands in the country launched its latest campaign – Dikho Khoobsurat, Karo Khoobsurat in tandem with its long term commitment to furthering children’s education in the country.

A brand whose name is almost synonymous to its humanitarian approach towards society, Nihar Naturals Shanti Amla has undertaken the cause of children’s education at the heart of its existence. Embarking on this mission four years ago to make education accessible to children across India, the brand contributes 5% of its profits towards children’s educational development, thereby becoming an enabler for consumers to make a positive change to the society.

The TVC created by BBH India showcases Vidya Balan walking through the streets, wherein people are gesturing to ward off the evil eye or traditional Indian habit of ‘Nazar Utarna’. While walking, packs of school children start following her lead. At the end of the TVC, Vidya gives credit to Nihar Shanti Amla for her long, lustrous and beautiful hair, which is garnering her admiration from these people. She adds that not only does the brand help add to her appeal, but also takes on its commitment to educate children, by contributing 5% of its profits towards this cause. The tagline ‘Dikho Khoobsurat, Karo Khoobsurat’ further reiterates the brand purpose of Nihar Shanti Amla of being an ally to progress. 

Speaking about the new campaign, Anuradha Aggarwal, Chief Marketing Officer at Marico Limited says, "It has been four years since Marico started investing in educating underprivileged children through Nihar Naturals Shanti Amla, with a clear objective to bring about a discernible change in the society. The new campaign, ‘Dikho Khoobsurat, Karo Khoobsurat’ captures the essence of our brand purpose of giving you healthy and radiant hair, while focusing on the creation of an environment where children are not compelled to drop out of school for financial reasons.”

Vidya Balan, Actor and Brand Ambassador says, “I’ve been associated with the brand for 6 years now and I can’t say this enough number of times - that it’s been a proud association because its gone beyond its functionality. We have gone on to breaking stereotypes, questioning the status quo and that’s what is so remarkable about the brand. It is constantly evolving and speaking to the customer in the language of today, addressing today’s woman’s needs. I think the new campaign puts across the message very effectively and in a fun way. There’s a lot of colour, there’s a lot of life and the children! The jingle is very very peppy! I think it’s something that people will begin to hum and they will look forward to watching again and again. Like I said it puts forward the message effectively, engagingly and in a fun way"

Subhash Kamath, CEO & Managing Partner, BBH India adds "We've always seen Nihar as a very progressive brand. And progressive brands don't just say things, they do things that make a real difference to people's lives. In that context, Nihar Shanti Amla has been consistently successful by giving it's consumers a dual benefit i.e. get great looking hair as well as do good for society by promoting children's education. We've stayed on this 'Look good & do good' premise for 4 years now and it's paying rich dividends. I believe this new commercial will help grow the brand from strength to strength”

Rajesh Mani, Executive Creative Director, BBH India said, “To bring alive the brand’s twin purposes, we used a very slice of life creative device – “nazar utaarna”. In normal sense, the gesture of nazar utaarna is more for an outward personification of beauty but in this case our brand ambassador – Vidya Balan is being appreciated not just for her great hair but also for being a change agent. The visual narrative is symbolic of what the brand does and the earthy lyrics, sung in a child’s voice, adds memorability to the film.”

Credits

Advertising Agency: BBH Mumbai, India

CEO and Managing Partner: Subhash Kamath

Chief Creative Officer and Managing Partner: Russell Barrett

Planning Head: Sanjay Sharma

Executive Creative Director: Rajesh Mani

Business Director: Anish Kotian

Creative Directors: Kumar Suryavanshi and Shruti Das

Lyricist: Kumar Suryavanshi

Planning Director: Yudhishthir Agrawal

Agency Producer: Khvafar Vakharia

Senior Business Partner: Rajat Pandey

Production House: Chrome Pictures

Director: Hemant Bhandari

TVC Link: https://youtu.be/Y6vIOj-yx60

FINANCIAL RESULTS FOR THE QUARTER/YEAR ENDED March 31,2016

The Board of Directors of Union Bank of India today approved the accounts of the Bank for the quarter and the financial year ended March 31, 2016.

Highlights

^FGlobal Business up 7.0% (y-o-y) to Rs. 620445 crore as on March 31, 2016.

^F  Share of CASA deposits improved by 310 bps to 32.3% from 29.2% in March 31, 2015.

^F Savings deposit grew at 13.4%, while share of high cost deposits declined to 2.1% (Mar 2016) from 3.0% (Mar 2015). In advances, RAM sectors grew at 11.7% (y-o-y), now

contributing more than 52% of domestic loan book.

^F The focus on CASA facilitated in sequential improvement in NIM by 10 bps to 2.32%.

^F  Non-interest Income for FY 2015-16 up 3.1% compared to a year ago.

^F  Increase in Operating expenses during FY 2015-16 contained at 1.30%.

^F Net Profit for FY 2015-16 stood at Rs. 1352 crore. Net Profit for January-March 2016 stood at Rs. 97 crore compared to Rs. 78 crore for October – December 2015.

^F Gross NPAs as percent to gross advances stood at 8.70%. Recovery and upgradation significantly improved to Rs. 395 crore in January-March 2016 from Rs.196 crore in

October – December 2015.

^F Return on average assets for FY 2015-16 stood at 0.35%. Return on average assets (annualised) sequentially improved to 0.10% for January-March 2016 from 0.08% for

October-December 2015.

^F Return on equity stood at 6.84% for FY 2015-16. Return on equity (annualised) too sequentially improved to 1.95% in January-March 2016 from 1.53% in October-December

2015

^F Capital Adequacy Ratio (Basel III) improved both sequentially and on annual basis to 10.56%. Tier I CRAR is 8.14%, within which CET1 is 7.95%.

^F Union Bank of India won all the Six Banking Technology Awards from IBA (Indian Bank’s

Association) in Best Technology Bank of year, Best use of Digital & Channels Technologies, Best use of Technology to enhance Customer Experience, Best Risk Management, Fraud, Cyber Security, Best Financial Inclusion Technology Initiatives and Best Payment Initiatives.

Business

Global Business grew by 7.0% from Rs. 579627 crore as on March 31, 2015 to Rs. 620445 crore as on March 31, 2016.

Global Deposits increased from Rs. 316870 crore as on March 31, 2015 to Rs. 342720 crore as on March 31, 2016, registering a growth of 8.2%. Domestic Deposits increased by 7.6% from Rs. 312230 crore as on March 31, 2015 to Rs. 336086 crore as on March 31, 2016.

CASA deposits grew by 19.7% to Rs. 110869 crore as on March 31, 2016 from Rs. 92650 crore in the previous year. CASA share in total deposits improved to 32.3% as on March 31, 2016 from 29.2% noted in previous year. Domestic CASA ratio stood at 32.9%. Savings bank deposits increased by 13.4% over a year ago and by 8.1% over December 2015. A total of 45 lakh CASA accounts were opened during the year.

Share of high cost deposits in total deposits declined from 3.0% in March 2015 to 2.1% in March 2016.

Global Advances increased from Rs. 252757 crore as on March 31, 2015 to Rs. 277725 crore as on March 31, 2016 recording a growth rate of 5.7%. Domestic Advances increased by 4.3% from Rs. 241323 crore as on March 31, 2015 to Rs. 251653 crore as on March 31, 2016.

Advances to productive sectors of economy, i.e. retail, agriculture, and MSMEs, which we together call as ‘RAM’ sectors, grew by 11.7%, from Rs. 117987 crore as on March 31, 2015 to Rs. 131800 crore as on March 31, 2016.

Overseas Business grew by 25.4% from Rs. 26074 crore as on March 31, 2015 to Rs. 32706 crore as on March 31, 2016. The Bank opened its 4^th overseas branch in Sydney, Australia.

Financial Performance for FY 2015-16

Domestic Net Interest Margin (NIM) stood at 2.39% in FY 2015-16 compared to 2.58% in FY 2014-15. Global NIM for FY 2015-16 was 2.32% as against 2.48% for FY 2014-15.

Net Interest Income for FY 2015-16 stood at Rs. 8314 crore compared to Rs. 8444 crore in FY 2014-15.

Non Interest Income for FY 2015-16 stood at Rs. 3632 crore, up by 3.1%. Increase in Operating expenses during FY 2015-16 contained at 1.30%. Operating profit for FY 2015-16 stood at Rs. 5722 crore compared to Rs. 5823 crore for FY 2014-15. Provisions for the year stood at Rs. 4291 crore, showing a growth of 6.2%.

Net Profit for FY 2015-16 stood at Rs. 1352 crore compared to Rs. 1782 crore in FY 2014-15.

Return on average assets stood at 0.35% for FY 2015-16 as against 0.49% for FY 2014-15.

Cost of funds declined to 6.2% for FY 2015-16 as against 6.5% for FY 2014-15. Yield on funds declined to 8.4% for FY 2015-16 from 8.9% for FY 2014-15. Return on equity stood at 6.84% in FY 2015-16 as against 9.73% FY 2014-15. Earnings per share (annualised) stood at Rs. 20.42 in FY 2015-16 as against Rs. 28.05 in FY 2014-15.

Financial Performance for the quarter ended March 2016

Domestic Net Interest Margin (NIM) stood at 2.46% for January-March 2016 as against 2.31% for October-December 2015. It was 2.43% a year ago. Global NIM for January-March 2016 was 2.32% as against 2.22% for October-December 2015 quarter. It was 2.37% a year ago.

Net Interest Income for January-March 2016 stood at Rs. 2085 crore compared to Rs. 2122 crore in January-March 2015.

Non Interest Income for January-March 2016 stood at Rs. 997 crore compared to Rs. 892 crore for October-December 2015 and Rs. 1143 crore for January-March 2015.

Increase in Operating expenses during FY 2015-16 contained at 3.7%.

Net Profit for January-March 2016 stood at Rs. 97 crore, which is 24.4% higher over October-December 2015.

Return on average assets (annualised) stood at 0.10% for January-March 2016 as against 0.08% for October-December 2015 and 0.47% for January-March 2015.

Yield on funds stood at 8.13% for January-March 2016 as against 8.21% for October-December 2015 and 8.68% for January-March 2015.

Cost of Funds stood at 5.98% for January-March 2016 as against 6.14% for October-December 2015 and 6.44% for January-March 2015.

Return on equity (annualised) stood at 1.95% in January-March 2016 as against 1.53% in October-December 2015 and 9.70% in January-March 2015.

Earnings per share (annualised) stood at Rs. 5.62 in January-March 2016 as against Rs. 4.57 in October-December 2015 and Rs. 27.92 in January-March 2015.

Asset Quality

Gross NPAs stood at 8.70% as on March 31, 2016 as against 7.05% as on December 31, 2015 and 4.96% as on March 31, 2015.

Recovery and upgradation significantly improved to Rs. 395 crore in January-March 2016 from Rs. 196 crore in October – December 2015.

Net NPA ratio is at 5.25% as on March 31, 2016 as against 4.07% as on December 31, 2015 and 2.71% as on March 31, 2015.

Provision Coverage stood at 50.98% as on March 31, 2016 compared to 55.00% as on December 31, 2015. It was 59.23% as on March 31, 2015.

Capital Adequacy

Capital Adequacy ratio of the Bank under Basel III improved to 10.56% as on March 31, 2016 compared to 10.30% as on December 31, 2015 and 10.22% as on March 31, 2015.

The Tier I CRAR is 8.14%, within which Common Equity Tier 1 is 7.95%.

During the year, the Bank has allotted, on preferential basis, 5,56,62,281 equity shares to the Government of India at an issue price of Rs 209.05 per share. On account of this preferential issue to the Government of India, the

Bank’s equity capital increased by Rs 1080 crore. Consequently, the Government’s shareholding in the Bank increased from 60.47% to 63.44%.

The Bank has raised Rs. 1000 crore of Tier 2 capital by way of issuing of 10,000 Basel III compliant Tier 2 bonds of face value of Rs. 10,00,000/- each at par, with 10 year tenure, bearing 8.61% p.a. coupon payable annually and with call option after 5 years on private placement basis on March 29, 2016.

Dividend

The Board of Directors recommended a dividend of 19.5% i.e. Rs 1.95 per equity share for the year ended March 31, 2016. This would be subject to approval by the shareholders.

Financial Inclusion

Under the Pradhan Manrti Jan Dhan Yojana (PMJDY), the Bank has opened more than 58 lakh accounts having a balance of Rs. 858 crore upto March 31, 2016.

55.3 lakh Rupay Card has been issued under PMJDY as at March 31, 2016. Under the DBTL scheme, over 60.30 lakh transactions with benefit amounting to Rs. 151.2 crore has been credited to beneficiaries’ accounts during

Q4/FY16.

Total enrolment under Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Atal Pension Yojana (APJ) increased to 29.0 lakh, 11.7 lakh and 0.46 lakh respectively.

Digital Initiatives during the Year

The Bank has been pioneer in taking various digital initiatives which are recognized by banking industry. The Bank launched various digital products for enhancing the customer services. Following are some of key initiatives during the year:

IMPS through branches for Retail and Corporate customers

Mobile Passbook (M Passbook)

Missed call facility for Mobile Banking & Account balance SMS based value added services

“UNION 24x7 COMFORT Lobby”.

DigiPurse Union Selfie

Online Account Opening

Digital channels presently account for 67% of overall transactions, which is one of the best among Public Sector Banks. The Bank has a strong digital proposition with about 6900 ATMs, Call Centre working in 9 languages 24x7, Internet Banking, Mobile Banking, POS Terminals, Debit, Credit Cards and also Tabulous banking facility.

Awards/Accolades during the Year

Union Bank of India won all the Six Banking Technology Awards from IBA (Indian Bank’s Association) in Best Technology Bank of year, Best use of Digital & Channels Technologies, Best use of Technology to enhance Customer Experience, Best Risk Management, Fraud, Cyber Security, Best Financial Inclusion Technology Initiatives and Best Payment Initiatives.

Golden Peacock Award for excellence in HR practice in 10^th International Conference on Corporate Social Responsibility.

Skoch Financial Inclusion and Deepening Award 2015

NBC TV 18 Financial Advisors Awards 2014 -15 in Best PSU Banks

MSME Banking Excellence Awards 2015 from Chamber of Indian Micro Small & Medium Enterprises (CIMSME)

1.  Best Bank Award for Promotional Schemes – Winner

2.  Best Bank Award for Mudra Yojna - Runner Up

National Award for Innovative Training Practices" (Second Prize for 2014-15) by Indian Society for Training & Development (ISTD)

Excellence in Innovation’ Award 2015 for implementation of M Passbook from

Financial Insights, International Data Corporation (IDC)

“ICT4 Development Awards 2015” from ASSOCHAM in the areas of Green IT

(Tabulous Banking, eKYC application, and M Passbook application

“elets Awards 2015” for “Multi Channel Payment Solution (IMPS)” from elets

Technomedia Pvt. Ltd.

SKOCH order of Merit Awards 2015 for:

1.  eKYC implementation

2.  Financial Inclusion Technology

3.  Kendriya Vidayalaya Fee Collection

NPCI Award 2015 under:

1.  Special category for implementation of IMPS through branches

2.  Recognition Award 2015 in issuance of RuPay cards

1^st Best Corporate Vigilance Excellence Award (2015-16) in corporate category in 7th Conclave of Vigilance Officers

Date: 13^th May, 2016

Place: Mumbai