Crisil reaffirms GVC rating of Bharti Tele-Ventures

Mumbai, Apr 21: Crisil has reaffirmed its 'Crisil GVC Level 1' (governance-and-value-creation) rating on the corporate governance and value creation practices of telecom major Bharti Tele-Ventures Limited (BTVL).

A release here said that the rating indicates the company's capability with respect to creating wealth for all its stakeholders while adopting sound corporate governance practices is the highest.

The rating reflects BTVL's excellent corporate governance practices, superior management and its strong relationships with its vendors and other stakeholders, the release said, adding, ''BTVL displays outstanding corporate governance practices on all counts while its board practices are exemplary with an extremely high focus on strategic oversight and business performance, processes, systems, audits, and disclosures.'' ''The BTVL board provides strong strategic direction and management aided by the meaningful contribution of the independent directors to the board's functioning and the strong capabilities of BTVL's operating management,'' it added.

The release also highlighted BTVL's highest standards of dissemination of corporate, financial and operational information to all its stakeholders.

Pointing out that in its ten years of operations, BTVL has been successful in creating optimal wealth creation for its stakeholders, the release stated that for its equity shareholders, BTVL has generated strong market returns with an appreciation in the stock trading at Rs 405 levels currently, up from Rs 193 in a year ago period.

''BTVL's value creation to its debt holders is reflective of Crisil's highest safety rating of ''AAA/Stable/P1+'' on BTVL's debt instruments,'' the release stated.

The company's active Human Resources Committee which convenes every quarter to discuss issues on employee attrition, employee productivity and training, ensures a high level of value creation for its employees with the company being ranked second as per the Hewitt study in terms of value creation to its employees.

UNI