Deloitte Private announces India’s Best Managed Companies for 2023

Mumbai, 13 January 2024: In the third edition of India’s Best Managed Companies, Deloitte Private announced six winners for 2023. The winning companies are Marico Limited, Crompton Greaves Consumer Electricals Limited, Syngene International Limited, Carborundum Universal Limited, Welspun Living Limited (formerly known as Welspun India Limited), and CEAT Limited.

Among those awarded this year, Crompton Greaves Consumer Electricals Limited and Welspun Living Limited have made it to the list for the second time consecutively, and Carborundum Universal Limited made it to the list in 2023 after qualifying once before in 2021. The programme successfully culminated in the Awards on 12 January 2024 in Mumbai, with the announcement of the winners.

"The Best Managed Companies 2023 honorees, emerging from a meticulous and comprehensive evaluation process, are more than just winners in a competition; they are pioneers redefining industry standards. Their leadership in adopting cutting-edge technologies, their commitment to sustainable practices, and their ability to navigate complex global markets have set them apart. These companies are not just driving economic growth; they are shaping the future of their respective industries, demonstrating that ethical practices and innovative strategies are key to long-term success in the rapidly evolving business world,” said K.R. Sekar, Partner, Deloitte India.

“It was gratifying to see several of last year's participants make it to the list again, displaying their excellent management, resilience, and innovation in a dynamic business environment. Participants engaging in this programme undergo a thorough and independent evaluation, where they are assessed based on a uniform framework focusing on four key aspects of business excellence: strategy, capabilities and innovation, culture and commitment, and governance and financials. The Best Managed Companies programme significantly contributes to the advancement of private businesses, thereby securing a more promising future for stakeholders,” said Dhiraj Bhandary, Partner, Deloitte India.

Candidates gain value from Deloitte coaching while participating in the Best Managed Applicant Lab, where they reflect on what it takes to be “Best Managed” based on leading practices from nearly three decades of programme insights and interactions. After a rigorous evaluation process, the winners are announced, who help set the bar for future years and inspire potential “Best Managed” companies to strive for the achievement. The Best Managed Companies programme has brought value to almost 1,300 private companies across 45+ countries.

The winners were assessed by a panel of exemplary jury consisting of industry experts Kalpana Morparia, Former Chairperson of JP Morgan, South and Southeast Asia, Ajay Tyagi, Former Chairman of the Securities and Exchange Board of India (SEBI); Dr. Alka Mittal, Former CMD and Director (HR) at ONGC; and Harish Bijoor, Brand and business-strategy expert and founder of Harish Bijoor Consults Inc.

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Notes to the editor (for reference purposes only)

About India’s Best Managed Companies
The Best Managed Companies is a marquee Deloitte programme that aims to celebrate and build a community of private businesses that are creating a better future. It is backed by a significant history of nearly 30 years and a proven framework that has brought value to almost 1,300 private companies across 45+ countries. Every year, hundreds of entrepreneurial companies across the globe undergo a rigorous application process, but only the best are awarded with the prestigious title of a ‘Best Managed Company’.

Since 2021, the globally celebrated programme has been brought to India by Deloitte Touche Tohmatsu India LLP (Deloitte India).

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities (collectively, the “Deloitte organisation”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.
This press release has been issued by Deloitte Touche Tohmatsu India LLP.

Winners’ list (in alphabetical order):

• Carborundum Universal Limited
• CEAT Limited
• Crompton Greaves Consumer Electricals Limited
• Marico Limited
• Syngene International Limited
• Welspun Living Limited (Formerly known as Welspun India Limited)