Edelweiss Annual Report 2013-14

Edelweiss Annual Report 2013-14

Performance Highlights
Consolidated Financial Performance of Edelweiss Financial Services Limited and its subsidiaries
(in ` million except per share data)
Year Ended March 31,

Mr. Kunnasagaran Chinniah

President of Phoenix Advisers Pte. Ltd., an advisory and

Independent Director

principal investing firm and Chairman, Asia Pacific Advisory

Mr. Chinniah recently retired as the Managing Director/Global

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

Total Income

25,555

21,840

16,707

14,289

9,778

9,005

10,888

3,718

1,533

727

281

104

Total Expenditure

22,040

19,247

14,720

10,789

6,450

5,715

6,421

1,971

898

383

175

95

Government of Singapore Investment Corporation (GIC). He

Profit Before Tax

3,515

2,593

1,987

3,500

3,328

3,290

4,467

1,747

636

345

106

joined GIC in 1989 and has held various positions with the

Tax Expenses

1,346

881

681

1,031

879

1,199

1,540

646

218

107

28

Net Profit (after minority)

2,202

1,785

1,277

2,330

2,292

1,864

2,732

1,099

417

237

78

director of Changi Airport International and a member of the

724

719

757

752

375

375

375

45

38

29

28

27

Hindu Endowments Board in Singapore. Mr. Chinniah is a

30,950

26,909

28,748

25,554

24,706

23,303

23,274

7,222

1,787

539

302

226

Head of Portfolio, Strategy & Risk Group with GIC Special

Paid up Equity Capital

Networth*

Investments (GIC SI), the Private Equity arm of the

Mr. Sunil Mitra

Independent Director

Chartered Financial Analyst and his other academic

qualifications include a Bachelors Degree in Electrical

2.31

1.66

3.00

2.94

2.43

4.00

2.08

0.93

0.64

0.24

0.02

Engineering from the National University of Singapore and an

Book Value per share (FV ` 1) (in `)#

35.48

32.13

34.80

30.56

30.04

28.21

24.65

9.36

3.93

1.58

0.92

0.69

MBA from the University of California, Berkeley.

Previous years' figures have been regrouped wherever necessary

Mr. P. N. Venkatachalam
Independent Director
Mr. Venkatachalam has wide experience in the banking sector
in India and abroad and has also worked in the software
industry in Banking & Finance verticals. He joined State Bank of

Total Income (` million)

Net Profit (` million)

21,840

Mr. Berjis Desai

2,292
2,202

1,864

16,707

1,785

14,289
10,888

9,778

Independent Director
Mr. Desai is the Managing Partner of J. Sagar Associates, one of
Indias leading law firms. He has varied experience in the legal

1,277

1,099

field, with specialisation in Corporate Law, Mergers &

9,005

Acquisitions, Derivatives, Securities & Financial Laws,

104
2003

281
2004

727
2005

1,533
5
2006

2007 2008

International Business Laws and International Commercial

417

3,718

2009

2010

2011 2012 2013 2014

78

2003 2004

237

Arbitration. He holds a Masters degree in Law from the

University of Cambridge.

2005

2006

2007 2008

2009 2010 2011

2012

Disinvestment Secretary, Revenue Secretary & Finance

Secretary. In his stint with the Ministry of Finance, Government
of India, Mr. Mitra was engaged in the design of significant tax
reforms. During his stint with the West Bengal Government,
Mr. Mitra was responsible for designing and implementing
widespread policy reforms in the State-owned public sector.

Mr. Navtej S. Nandra

the Indian Institute of Bankers.

2,330

having held diverse positions in Government of India such as

Independent Director

Masters Degree in Economics and is a Certified Associate from

5%
R: 7
CAG
2,732

25,555

Administrative Service. He possesses rich and varied

experience in public administration and general management

India in 1967 and retired in 2004 as its Managing Director. He

Industries & Development Bank of India (SIDBI). He holds a

5%

Mr. Mitra holds a bachelors degree in Science from Delhi

University and belongs to the 1975 batch of the Indian

was a member of the Interim Pension Fund Regulatory

Authority of India and a Director on the Board of Small

R: 6
CAG

Management from the J. L. Kellogg Graduate School of

Management.

Special Investments Department of GIC in their North

2.85

* Networth including minority

University, an MBA from IIM, Ahmedabad and a Master of

American, European and Asian regions. He is presently also a

Diluted earning per share (FV ` 1) (in `)#

# Adjusted for Corporate Actions

Board with Apollo Management. Mr. Misra holds a Bachelor of

Arts degree in Economics from St Stephens College, Delhi

2013 2014

Mr. Sanjiv Misra

Independent Director

Mr. Nandra, a veteran of the global financial services industry, is

the President of E*TRADE Financial Corporation. He also serves
on the Board of Directors of the Centre of Governance,
Institutions and Organisations, at the Business School, National
University of Singapore. Mr. Nandra was CEO of Morgan Stanley
Investment Management Ltd., and also served on the Boards of
Directors of Morgan Stanley Huaxin Fund Management
Company, Morgan Stanley International Ltd., and Morgan
Stanley & Co. International plc. Prior to Morgan Stanley,
Mr. Nandra's career included senior roles at DTZ Holdings,
Merrill Lynch Global Wealth Management, Merrill Lynch Global
Investment Banking, The Cambridge Group Inc., and BoozAllen
and Hamilton Inc. (now Booz & Co.). He has also served on the
Board of Directors of Nuveen Investments, Inc., and Merrill
Lynch India Technology Services. Mr. Nandra holds an MBA
from IIM, Ahmedabad, and a Bachelor's degree in Commerce
(Honors) from the University of Delhi.

Mr. Misra has a rich and varied experience in the financial

services industry, having worked with various organisations
including Goldman Sachs and Citigroup. Mr. Misra is the

02

Performances

Highlights

Board

of

Directors

27

Edelweiss Annual Report 2013-14

B o a rd o f D i re c t o rs

Networth (` million)

Mr. Rashesh Shah

is a qualified Chartered Accountant with a post graduate

Chairman & CEO

diploma in securities law. Mr. Kaji has vast experience in the

Mr. Shah, co-founder of the Company has diverse experience

in the financial services industry in India and has been
instrumental in building Edelweiss into one of India's leading
diversified financial services companies. Prior to founding
Edelweiss, he worked with ICICI Limited. He serves on the
Boards of various companies and has also served on the
Executive Committee of the National Stock Exchange of India
Ltd., India's premiere securities exchange. He has in the past

30,950
28,748
26,909

financial services sector. Before joining Edelweiss in 2009, he

23,303

was corporate advisor to various large companies in the

24,706 25,554

23,274

financial services sector. Mr. Kaji was Honorary Treasurer &

Official Spokesman and Director of Bombay Stock Exchange
(BSE) between 1999-2002. Presently, he is a member of the
Secondary Market Advisory Committee of SEBI.
7,222

Mr. Rujan Panjwani

Executive Director

served on the Executive Committee of the National Stock

Exchange of India Ltd. and presently serves as Chairman,

Mr. Panjwani, an Electrical Engineer by qualification, has

Maharashtra Council of FICCI. He currently serves on the SEBI

extensive experience in the financial services industry working

committee to review the Insider Trading Regulation. His

across all asset classes. At Edelweiss, he helped set up the

academic qualifications include an MBA from IIM, Ahmedabad

Group's Treasury and Balance Sheet unit. Rujan is now a

and a Diploma in International Trade from the Indian Institute

member of the Assets & Liabilities Committee (ALCO) that

of Foreign Trade, New Delhi.

6%

R: 5

CAG

226

302

539

2003

2004

2005

1,787

2006

2007

2008 2009

2010

2011 2012

2013 2014

primarily oversees the implementation of an effective process

for managing Edelweiss' interest rate, liquidity and similar

Mr. Venkat Ramaswamy

market risks relating to the balance sheet and associated

Executive Director

activities, including the adoption of policies, risk limits and

Diluted Earnings Per Share FV `1 (`)

Book Value Per Share FV `1 (`)

capital levels from time to time. He also set up Edelweiss'

Mr. Ramaswamy, co-founder of the Company spearheads one

of the Companys most strategic businesses Financial Markets
and Asset Management. He brings significant experience and
expertise on client relationships to Edelweiss. Prior to
Edelweiss, he worked with Spartek Emerging Opportunities
Fund and ICICI Limited. His academic qualifications include an
MBA from the University of Pittsburgh, United States of
America and a Bachelors Degree in Electronics Engineering.

responsibilities till 2012.

Mr. Himanshu Kaji

Mr. Narendra Jhaveri

Executive Director

Independent Director

Global Risk Group - the nodal point for all risk monitoring and
management. He is now a member of the Global Risk

7%

CAG

on Risk-related issues. He also played a role in setting up

4.00

3%

R: 4

R: 5

Committee - the highest decision-making body in Edelweiss

CAG

34.80
30.04 30.56

several businesses for the Edelweiss Group including Asset

Management and Credit, for which he had oversight

2.94

3.00

35.48
32.13

28.21

2.85
24.65

2.43
2.31
2.08
1.66
9.36

0.93

Mr. Kaji is the Group Chief Operating Officer. He is responsible

Mr. Jhaveri, a public finance expert, has occupied important

for the overall functioning of the Corporate Planning,

positions in various prestigious institutions including National

Operations, Technology, Business Solutions, Governance,

Council of Applied Economic Research (NCAER), Reserve Bank

Compliance, Finance, Stakeholder Relations, Global Risk,

of India and ICICI Limited. Mr. Jhaveri rose to become Joint

Resources, Legal and Administration departments of the

Managing Director and then the Executive Chairman of ICICI

Group. He is involved in formulating strategy and providing

Securities Ltd. His academic qualifications include a Masters in

vital inputs for the effective functioning of the Group. Mr. Kaji

Economics from Gujarat University and M.Sc. in Economics

0.64
0.02
2003

3.93

0.24
2004

2005

2006

2007

2008 2009

2010

2011 2012

2013 2014

0.69

0.92

2003

2004

1.58

2005

2006

2007

2008 2009

2010

2011 2012

2013 2014

from the London School of Economics.

26

Board

of

Directors

Performance

Highlights

03