The Hindu Business Line : B.K. Birla group not drawing up long-term plans

The B.K. Birla group companies are not drawing up any long-term corporate plans. Only short to medium-term strategies and targets of two-year tenure are being prepared.

It is not known whether this marks the beginning of the much-talked-about succession exercise in this group, which is still headed by the octagenarian industrialist.

Mr Birla scotches all such rumours but, at the same time, he doubts how long he will be able to attend important corporate engagements such as the annual general meetings of the company's shareholders.

On Thursday, while chairing the 87th AGM of Kesoram Industries Ltd, a Rs 1666-crore outfit dealing with cement and tyre, he said: "I am 85-plus. I don't know how long I will be able to continue but I will keep on meeting you as long as my health permits."

He went on to say that he joined the company as a trainee when he was 18, and five years later he was made a director. He became chairman of Kesoram when he was 53.

"For the last 62 years I have been a director of this company and have attended 53 annual general meetings of the shareholders," Mr Birla said. While talking to reporters, he said only two-year plans - be it expansion programme or financial targets - were being readied at Kesoram Industries and all his other companies.

He clarified that this exercise had started from April this year. So the current plans were spread over 2006 to 2008. When asked whether he would stop heading the group after March 2008, he smiled and said: "No, I have not said that."

Succession plan

Mr Birla has already prepared a succession plan for his group under which Ms Manjushree Khaitan, his younger daughter, will get Kesoram Industries, of which she is already a director.

His other daughter, Ms Jayshree Mohta, is likely to get Jay Shree Tea & Industries. A successor for Century Enka has not yet being finalised. On several occasions Mr Birla has said that he wants to give it to his grandson, Mr Kumarmangalam Birla.