Cairn India CFO in India Business Today’s best list

Chief Financial Officer Indrajit Banerjee of the leading exploration and production company in the oil and gas sector, Cairn India Limited, the parent company of Cairn Lanka Pvt. Ltd., which will soon begin drilling for oil in Sri Lanka’s Mannar basin, was an award winner of India Business Today’s Best CFOs of The Year (Best Treasurer category), as per the magazine’s annual survey.

This year Business Today picked the best CFOs in the country – the ones who best succeeded in finding the balance between company growth and meeting shareholder expectations, while keeping input costs down during the difficult financial year of 2009/10.

The award was conferred on Banerjee by Finance Minister of India Pranab Mukherjee, who was also the Chief Guest of the function at an event held on Tuesday at ITC Maurya in New Delhi. The event was attended by the Deputy Chairman of India’s Planning Commission Montek Singh Ahluwalia, who was the Guest of Honour.  Business Today, a member of the India Today Group says that this year selecting award winners was a challenging task. The BT Survey used the tested BT 500 companies – ranked by market capitalisation – as the basis for analysis.

Cairn India’s Financial Highlight for Q4 FY 2010-11 as reported on 25 May 2011: Cairn India in June 2011 reported a 10-fold jump in its fourth quarter net profit on back of consistent performance at its Rajasthan oilfield. The Profit after tax (PAT) in Q4 FY 2010-11 at INR 24,578 million (US$ 543 million); FY 2010-11 at INR 63,344 million (US$ 1,390 million).  The company’s cash flow from Operations in Q4 FY 2010-11 was at INR 26,110 million (US$ 577 million); FY 2010-11at INR 67,122 million (US$ 1,473 million). The Net Cash of the company was INR 29,070 million (US$ 651 million) as on 31 March, 2011 Cairn India is one of the largest independent oil and gas exploration and production companies in India.  It is headquartered in Gurgaon near Delhi and has material exploration and production positions in 10 blocks in India and one in Sri Lanka.

Cairn India is listed on the Bombay Stock Exchange and the National Stock Exchange of India. Cairn produces oil and gas from three blocks in India: Ravva in Andhra Pradesh, CB-OS/2 in the Cambay Basin in Gujarat and RJ-ON-90/1 in Rajasthan.

In 2007, Cairn India was listed on the National and Bombay Stock Exchanges and as on date has a market capitalisation of US$ 14 billion. Cairn India is a top 25 Indian company in the NIFTY 50 index.