Archives February 2024

South Indian Bank Crowns Champions Of SIB Ignite Quizathon

South Indian Bank Crowns Champions Of SIB Ignite QuizathonBangalore, 05th February 2024: South Indian Bank, a private sector bank in India, announces the Grand Finale winners of the ‘SIB Ignite Quizathon’ – a National Level Quiz Competition held at St Joseph’s University, Bangalore.

The prestigious title of the National Champion was earned by Team Qurious Docs (Gauhati Medical College And Hospital), for demonstrating exceptional knowledge and agility, and was awarded a grand prize of Rs. 1,50,000/-. Team Neanderthals (LNMIIT Jaipur) secured the second prize of Rs. 1,00,000/- while the third prize of Rs. 60,000/- was awarded to Team Cuizzzers (Christ University) for their remarkable performances.

The Grand Finale, held at St Joseph’s University, flagged off with an introductory address by Mr. Thomas Joseph K, Executive Vice President and Chief Business Officer of South Indian Bank. Setting the stage for the event, Mr. Gyanendra Kumar Gangwar IAS, Managing Director of Karnataka Food and Civil Supplies Corporation Ltd, delivered an insightful keynote address, followed by a special address from Rev. Dr. Fr. Victor Lobo SJ, Vice Chancellor of St Joseph’s University. The other prominent attendees also included Mr. Sony A, SGM & CIO, South Indian Bank, Ms. Azmat Habibulla, Joint General Manager & Chief Marketing Officer, South Indian Bank, and Ms. Rekha VR, Regional Head – Bangalore, South Indian Bank.

Mr. Thomas Joseph K, Executive Vice President and Chief Business Officer, South Indian Bank said, “The SIB Ignite Quizathon stands as a testament to South Indian Bank’s unwavering dedication to fostering intellectual curiosity and knowledge among the youth. This competition serves as a platform that tests the participant’s cognitive abilities and encourages them to delve into a diverse range of subjects. The outstanding performances witnessed during the event prove the depth of talent that thrives among the young minds of our nation. South Indian Bank is committed to engaging with the youth and reinforces its dedication through the SIB Ignite Quizathon. This initiative marks a strategic step towards nurturing young minds and establishing lasting connections with the vibrant generation of tomorrow.”

The SIB Ignite competition aimed to captivate and inspire college students nationwide, providing a platform for them to exhibit their general knowledge and enrich their understanding of diverse subjects. The competition comprised of three rounds, starting with a preliminary qualifying round held online for teams across the nation. The winners of the preliminary round proceeded to zonal rounds and the subsequent winners, thereon to the Grand Finale for the coveted title of national champion. The grand finalists included Team Mark Men (IIM Ahmedabad), Team Cuizzzers (Christ University), Team Neanderthals (LNMIIT Jaipur), Team Qurious Docs (Gauhati Medical College And Hospital), Team TURING (RTM Nagpur University), Team Batman & Robin (IIT Palakkad), Team Keynesians (St Berchmans College Changanassery), and Team RM Girls (Pope John Paul II College of Education).

South Indian Bank remains dedicated to fostering knowledge and for providing a platform for young minds to shine. The success of the SIB Ignite Quizathon underscores the Bank’s commitment to education and the promotion of intellectual growth. The ‘SIB Ignite Quizathon’ featured Pinnacle as the associate partner, BrainQuest as the Knowledge Partner, and St. Joseph’s University as the Institution Partner.

A Heartfelt Ode to the Legendary Pt. Birju Maharaj Ji by Kathak dancer Shinjini Kulkarn

5th February 2024: Experience the magic transpire as passionate classical dancer Shinjini Kulkarni presented an exceptional tribute to the life and legacy of the late Pt. Birju Maharaj Ji.

With her distinct performing style and visual concept, Kathak performer Shinjini Kulkarni enthralled the spectators through Mann Bheetar, an emotive tribute to the late Pt. Birju Maharaj Ji. The production reflected a profound loss felt by people upon the loss of their revered guru.

kathak

Being an experienced dancing expert, Shinjini unveiled a surprising spectacle that promised to be a revolutionary blend of innovative technology and classical Kathak dance, equipped with an illusory appearance by the renowned Pt. Birju Maharaj Ji performed alongside her at the Vasant Otsav event.

With an effort to rekindle the luminary maestro and offer the audience a chance to experience his enduring charisma on stage, the soiree packed with cultural diversity, versatile splendor, and conceptual approach was hosted at Kamani Auditorium on February 3, 2024.

“The repertoire was not a performance; rather, it was a memorable portrayal of our affection and reverence for Pt. Birju Maharaj Ji” ,expressed Shinjini Kulkarni. An amalgam of technology and tradition was intended to honor the great maestro’s enduring impression on Kathak and to represent his essence.”

Medicine Has Its Root In The Heart

In this write up we will explore the heart of medicine, focusing on surgery, medications, and myocardial infarction (MI). In this discussion, we delve into the core principles and practices that drive modern healthcare, emphasizing the vital role of the heart in surgical interventions, pharmacological treatments, and managing MI.

Surgery stands as a cornerstone of modern medicine, offering interventions for a myriad of cardiac conditions. Cardiothoracic surgeons perform intricate procedures such as coronary artery bypass grafting (CABG), valve replacements, and heart transplantations to restore cardiac function and improve quality of life. Surgical interventions, guided by precision and innovation, aim to address structural abnormalities and alleviate symptoms, enhancing patients’ cardiovascular health and well-being. Medications play a vital role in the management of cardiovascular diseases, offering targeted therapies to control symptoms, prevent complications, and improve outcomes. Pharmacological interventions aim to optimize cardiac function, reduce the risk of adverse events, and enhance patients’ overall cardiovascular health through evidence-based medicine and personalized treatment approaches.

Myocardial infarction, commonly known as a heart attack, represents a critical manifestation of coronary artery disease, resulting from acute occlusion of coronary blood flow. Prompt recognition and intervention are paramount in the management of MI, with timely reperfusion strategies, including thrombolytic therapy and percutaneous coronary intervention (PCI), aimed at restoring myocardial perfusion and preserving cardiac function. Comprehensive management of MI encompasses risk stratification, secondary prevention measures, and cardiac rehabilitation programs to mitigate complications and optimize long-term outcomes for patients.

Surgical innovations and technological advancements have revolutionized the field of cardiac surgery, enabling minimally invasive approaches, robotic-assisted procedures, and transcatheter interventions. Novel techniques such as off-pump CABG, mitral valve repair, and transcatheter aortic valve replacement (TAVR) offer less invasive alternatives with reduced operative morbidity and enhanced recovery. Cutting-edge imaging modalities, intraoperative monitoring systems, and surgical instrumentation contribute to improved precision, safety, and efficacy in cardiac surgical practice. The landscape of cardiovascular pharmacotherapy continues to evolve, driven by advances in pharmacogenomics, drug discovery, and precision medicine. Multimodal approaches incorporating novel drug classes, targeted therapies, and adjunctive treatments aim to address the diverse needs of patients with cardiovascular diseases, paving the way for personalized and precision-driven care. The management of cardiovascular diseases requires a multidisciplinary approach, fostering collaboration among cardiologists, cardiac surgeons, interventionalists, nurses, pharmacists, and allied health professionals. Integrated care models, comprehensive heart centers, and multidisciplinary heart teams facilitate seamless coordination, continuity of care, and shared decision-making, ensuring holistic management and optimal outcomes for patients with complex cardiac conditions. Patient-centered care, informed by shared decision-making, cultural competence, and empathy, lies at the heart of interdisciplinary collaboration, fostering trust, engagement, and satisfaction among patients and providers alike.

In conclusion, surgery, medications, and myocardial infarction represent pivotal aspects of modern medicine, each intricately connected to the heart of healthcare. Through surgical interventions, pharmacological treatments, and comprehensive management of MI, healthcare providers strive to uphold the principles of precision, compassion, and excellence in cardiovascular care. As we navigate the evolving landscape of cardiac medicine, let us remain steadfast in our commitment to advancing the art and science of healing, guided by the enduring imperative to safeguard the heart—the essence of life itself.  This lecture highlights the integral role of surgery, medications, and myocardial infarction in contemporary cardiac medicine, emphasizing key principles, advancements, and interdisciplinary collaboration in the management of cardiovascular diseases.

Saveetha College of Allied Health Sciences Conducted a session on SDG (Sustainable Development Goals) in Saveetha College of Occupational Therapy on the topic entitled ‘Medicine has its root in the Heart’.

Author: R. Sindhuja- Tutor in the Department of Cardiology,
Saveetha College of Allied Health Sciences,
Saveetha Institute of Medical and Technical Sciences, Chennai.

TATWA Technologies Celebrates 22 Years of Excellence

Bhubaneswar, 5th Feb 2024: of TATWA Technologies Ltd, one of the fastest growing companies in the IT/ITES sector was celebrates its 22nd foundation day across all its Delivery Centers on 4th Feb 2024. On this occasion, a grand event was held in Tatwa’s corporate campus in Bhubaneswar, witnessed by thousands of employees and associates from across the globe, in addition to over 700 attendees and dignitaries.

TATAW

 On this occasion TATWA 2.0 has been unveiled, which is a roadmap for a Billion Dollar
Enterprise in the next decade. TATWA plans to leverage its expertise to help businesses across industries adopt cutting-edge technologies and innovative processes to optimize their throughput. The Company will focus on enhancing its capabilities in areas like cloud computing, artificial intelligence, and cybersecurity to cater to the growing demand for these services. Leverage Human Intelligence as the Creators of Artifical Intellignce, which in effect shall prove to be the guiding force behind innovation and excellence in the Digital Era. The Company aims to further expand its international presence and continue establishing itself as a leading player in the global IT market.

 Rajya Sabha MP Dr Sujeet Kumar attended as chief guest and Co-founder of Mindtree N S Parthasarathy and Managing Partner of NetworkGain Consultancy Koushik Ramani as Guest of Honour.

 Chief Guest DR. Sujeet Kumar, MP, Rajya Sabha said, “Entrepreneurs create wealth for the
nation. Tatwa due to its clear vision and pursuit to achieve it has established itself, a fastest growing IT company in Eastern India.

 Guest of Honour Mr.N S Parthasarathy, Co-Founder, Mindtree | Managing Partner, Mela Ventures said, “40% company that starts, closed down in first 3years, while 80% of companies fail in 20 years of time. So as Tatwa is celebrating its 22nd foundation day, it’s a phenomenal achievement by any company. Countries those invest in building institutions thrive economically, culturally and socially. “

 On the Occasion, Mr. Ayaskanta Mohanty, Managing Director, Tatwa Technologies Limited emphasized the importance of embracing technology for customer success and highlighted the TRUST factor which is the foundation of any successful organization. “When employees trust their leaders and colleagues, they are more likely to be engaged, productive, and innovative,” said Mr. Mohanty.

 Mr. TapendraSenapati, Co-Founder & CEO said “Innovation is embedded as an integral component of Tatwa. There is a systematic process which drives innovation and the resources are always encouraged to bring in new thoughts and ideas”. Indeed, Tatwa has come a long way since its inception 22 years back and is in the verge of leaping into the future of digital technology.

  “TATWA’s commitment to developing a Centre of Excellence in AI, ML, Cybersecurity, and Analytics to offer services and solutions to Global customers is underway, which will help businesses achieve their goals at a fast pace. In order to achieve this goal Tatwa is building competency by skill development and certifications of talents and collaborating with Global Partners and OEMs”, said Ms Smruti Nayak, Director Technologies.

 Mr. David Sahoo, Director of Operations discussed about TATWA’s focus on CX Engineering and the team’s ability to design customized solutions for customers. “As a leading CX Engineering services provider, TATWA is always committed to meet the dynamic needs of customers providing comprehensive cutting edge CX solutions like intelligent Chat Bots, hyper personalization automation, etc.”.

 Mr. Bikram Dash, Vice President – (HR, L&D) discussed about the landscape of TATWA’s talent acquisition which is undergoing a dramatic transformation, fuelled by rapid technological advancements, shifting demographics, and evolving workplace expectations.

 From 2002, TATWA’s relentless endeavors in bringing people closer to technology has transformed a 3 member team to a formidable force of 3000+ digitally skilled professionals. Having established a strong foothold in the Indian markets (Operational Centres in Bhubaneswar, Kolkata, Guwahati, Hyderabad, Thane & NOIDA) , Tatwa has expanded wings overseas as well, catering to the markets of USA, UAE, South East Asia & Africa.

 Riding on its phenomenal success in transforming & managing Business Process across industries, ranging from the BFSI, Digital entertainment, Education, Insurance, Travel & Hospitality, Healthcare, Telecom and the like, TATWA has steadfastly made inroads into the new age Digital Era with proven capabilities. Partnering industries from diverse sectors to digitally transform their processes with embedded technologies and drive enhanced efficiencies with greater agility. This in turn, creates new values for employees, Customers and Stakeholders alike. Tatwa has established business verticals such as Technology Consulting & Implementation, System Consulting & Integration in addition to Hi Tech Business Process Management Services.

 With 2 decades of experience, TATWA innovates Unified Communication Platform as a Service (UCPaaS) – a unique service for the Small & Medium Businesses of the world to leverage the power of digital communication, Which is likely to attract hyper-growth in the future.

Geeta Pariwar Unveils the Roadmap to Gita Bhakti Amṛta Mahotsava At Pune Conference

Geeta Pariwar Unveils the Roadmap to “Gītā Bhakti Amṛta Mahotsava” At Pune ConferencePune, 05th February 2024: The most awaited Gītā Bhakti Amṛta Mahotsava, slated to be celebrated from February 4th till 11th 2024, was announced by Geeta Pariwar at a Press Conference held on 1st February at the Patrakar Bhawan in Pune.

Geeta Pariwar, highly known for donning the role of a Charioteer to steer seekers on to the spiritual path, is organizing the Gītā Bhakti Amṛta Mahotsava – a celebration of the 75 priceless and memorable years of the divine journey of Parama Pujya Swami Shri Govind Dev Giriji Maharaj.

The week-long spiritual festive celebrations are scheduled to take place in the serene and pious surroundings of Alandi, Pune, on the banks of the sacred river Indrāyaṇī from 4th to 11th February 2024.

This spiritual festivity commemorates the Amṛta Mahotsava of the revered spiritual guru, Parama Pujya Swami Shri Govind Dev Giriji Maharaj, affectionately known to his devotees as Swamiji.

The key speakers who graced the press conference included Dr. Sanjay ji Malpani, National Executive President of Geeta Pariwar, Giridhariji Kale, Executive Chairman of the Gītā Bhakti Amṛta Mahotsava Organizing Committee, Pradeepji Rathi, Geeta Pariwar National Executive Member and Trustee, and Shekhar Mundada, Coordination Committee Public Relations Head.

Dr. Sanjay ji Malpani expressed his enthusiasm for the upcoming Mahotsava by stating that “Gītā Bhakti Amṛta Mahotsava” is not just an event, but an observation of spirituality, culture, and selfless service.

He echoed Swamiji’s vision to make this Mahotsava an eventful congregation which would result in creating a tremendous amount of positive vibes for mankind at large, and will inspire millions to share spiritual bliss together. Malpani ji also stated that this event is a testament to the grandeur of our cultural values and how great an impact it can have on the coming generations.  It is also believed that such a grand gathering of saints, yogis, spiritual leaders, and intellectuals from diverse backgrounds will significantly impact the preservation of our nation’s ethos.

The festival promises to be one of its kind. Along with a spectacular cultural extravaganza, it features participation of over 250 artists in an enactment of the great Indian epic Rāmāyaṇa. Śrīmadbhāgavata kathā and dialogues on the Scriptural doctrines such as Vedaśāstra Saṃvāda are some other highlights of the mega event. A grand scale 81 Kuṇḍīya Mahāyajña will be performed by over 2000 Vedic gurus.

Another grand attraction of the event is Kritagyata Gyapan Parva – honouring great personalities from different fields of service to the Nation.

A major attraction for those wanting to further their progress in spirituality is the opportunity to witness rich intellectual discussions on the principles of religion, and the Vedas.

This vibrant showcase aims to highlight the rich cultural heritage of India and foster a sense of unity and harmony among participants. “Gītā Bhakti Amṛta Mahotsava” 2024 promises to be a unique blend of spirituality, culture, and celebration, and Geeta Pariwar invites one and all to partake in this once in a lifetime occasion.

Noida Educational Academy triumphs as the ‘number one school in sports

Noida Educational Academy triumphs as the ‘number one school in sports’ in Delhi, at the SFA ChampionshipsNew Delhi, February 05th, 2024: The inaugural edition of the SFA Championships in Delhi concluded with resounding success, showcasing the remarkable talent and sportsmanship of schools across the city. Noida Educational Academy became the number one school in sports with 119 points securing 7 gold, 4 silver, and 4 bronze medals, displaying unparalleled passion for sports.

Pathways World School, Gurugram took the first runner-up position, and Manava Bhawna Public School, Nathupura claimed the second runner-up award. These achievements highlight the fierce competition and commendable sportsmanship displayed by Delhi schools. 

Mr. Deepak Gaur, Director, Manava Bhawna Public Schoolexpressed, “As we celebrate the resounding success of the inaugural edition of the SFA Championships in Delhi, we commend the dedication and sportsmanship displayed by all participating schools and athletes. Their remarkable achievements not only highlight the immense talent present in our city but also serve as a testament to the transformative power of sports in shaping young lives. We applaud Team SFA for their efforts in promoting grassroots sports development and fostering a culture of athleticism among our youth” 

Individual excellence shone brightly as well, with standout athletes from Delhi schools earning prestigious titles. The coveted ‘Golden Girl’ accolade was awarded to Anika Gupta from Springdales School, Dhaula Kuan, who showcased remarkable prowess with 2 Gold medals, each in Carrom and Chess. Meanwhile, Harsh Kumar, representing Manava Bhawna Public School, Nathupura earned the esteemed distinction of ‘Golden Boy’ by clinching 2 Gold medals, each in Athletics and Kho Kho. 

The SFA Championships in Delhi witnessed an overwhelming participation, with close to 6200 athletes representing over 540 schools. Engaging in thrilling matches across various sports, including skating, shooting, football, athletics, badminton, basketball, and kabaddi, the championship captivated audiences and showcased the city’s vibrant sporting culture. With a balanced participation of 64% male athletes and 34% female athletes, the championship celebrated inclusivity and diversity, fostering a spirit of healthy competition and camaraderie among participants.  

The success of the 1st edition of the SFA Championships in Delhi reflects the commitment and dedication of young athletes, schools, support of the sporting infrastructure teams, in promoting sports and inculcating a spirit of healthy competition. As the city bids farewell to this edition, it looks forward to future editions that will continue to inspire and celebrate the sporting spirit of its future Champions! 

Final results

Top Schools in Sports at the SFA Championships, Delhi, 2023-2024:

S.no Schools Gold Silver Bronze Points
1 Noida Educational Academy 7 4 4 119
2 Pathways World School, Gurugram 8 11 15 112
3 Manava Bhawna Public School, Nathupura 3 5 6 111
4 DLF Public School 8 9 8 99
5 Shiv Nadar School, Gurugram 6 5 5 84

Most Valuable Coach at the SFA Championships, Delhi, 2023-2024: Mr. Charanjeet, Manava Bhawna Public School, Nathupura

Highest Contingent: Manava Bhawna Public School, Nathupura

Top schools in each sport at the SFA Championships, Delhi, 2023-2024:

S. No Sports School Name
1 Athletics GD Goenka Public School, Paschim Vihar
2 Badminton Delhi Public school, Morta
3 Basketball Shiv Nadar SchoolNoida
4 Carrom GD Goenka Public School, Gurugram 

Prudence School, Dwarka

5 Chess DLF Public School
6 Football Shiv Nadar School, Gurugram
7 Kabaddi Noida Educational Academy
8 Karate Gyaananda School, Gurugram
9 Kho Kho Manava Bhawna Public School, Nathupura
10 Shooting Manav Sthali School, New Rajendra Nagar
Squash Kothari International SchoolNoida
11 Skating Indraprastha World School, Paschim Vihar
13 Swimming Pathways World School, Gurugram
14 Table Tennis Manav Sthali School, New Rajendra Nagar
15 Tennis Delhi Public School, RK Puram
16 Volleyball Sarvodaya Vidyalaya, East Punjabi Bagh
17 Yogasana DLF Public School

 The real-time updates, highlights, and exclusive behind-the-scenes moments are available on our social media channels – Facebook, Instagram, Twitter 

VST Tillers Tractors Ltd Net profit surged by 65 Percent to Rs 86.39 Cr for the Nine months ended Dec 23

Bengaluru, February’ 2024: VST Tillers Tractors Limited (VST), India’s leading farm equipment manufacturer, announced their Quarter 3 and Nine-month results for the financial year 2023-24.

For Nine months, VST has achieved a turnover of Rs 694.61 Crore compared to Rs 683.82 Crore during the corresponding period of the previous financial year, an increase of 1.60%. Earnings before interest, taxes, depreciation & amortization (EBIDTA) rose by 45% to Rs 134.5 Cr compared to Rs 92.4 Cr during the same nine-month period of the previous year. Net profit stood at Rs 86.39 crore for YTD Dec 23 compared to Rs.52.22 crore YTD Dec 22 with a growth of 65%.

For the quarter, VST reported a turnover of Rs. 169.96 crores. The company’s earnings before interest, taxes, depreciation & amortization (EBITDA) stood at Rs 27.70 crore for Quarter 3, which is 14.7 % of total revenue. In the previous year Q3, the EBITDA margin was 14.6%.

The company has also registered growth of 38% in the export of tractors for nine months of FY24. The joint venture entity, VST Zetor Pvt Ltd., between the company and HTC Investments a.s (owner of the brand “Zetor”) commenced operations in the quarter.

WILL BLOOD DONATION ACT BENEFICIAL TO DONOR ?

Blood donation is crucial for the general public as it helps save lives by providing essential blood components for medical treatments, surgeries, and emergencies. Regular donations ensure a stable blood supply, benefiting those facing illnesses, accidents, or undergoing major medical procedures. It’s a simple yet impactful way for individuals to contribute to the well-being of their community. On 31/1/24, As a part of UBA and community outreach program, Saveetha College of Allied Health Sciences reached kondancherry village which is Tiruvallur District, Tamil Nadu were the students and faculties conducted an awareness program by stating the Importance of blood donation. Promoting awareness on blood donation involves educating individuals about needs, who can donate blood and how they can donate blood and it’s benifits.“Give the gift that costs nothing to you but means everything to someone else – donate blood.”

Satin Group Records Highest Ever PAT of Rs. 308 Crore in 9M FY24

5th  February 2024, New Delhi:

 Satin Creditcare Network Limited (SCNL) (NSE: SATIN, BSE: 539404) has announced its unaudited financial results for the quarter and nine months ended 31st December 2023. The financial numbers are based on IndAS.

Consolidated Highlights

Particulars (Rs. crore) 9M FY24 9M FY23 % Change Q3 FY24 Q3 FY23 %Change Q2 FY24
Assets under Management (AUM) 11,074 7,945 39% 11,074 7,945 39% 10,100
Disbursement 7,445 5,299 41% 2,921 1,881 55% 2,403
Profit After Tax (PAT) 308 -94 428% 113 59 93% 107
Return on Assets (RoA) 4.5% -1.6% +610bps 4.6% 3.1% +149bps 4.8%
Return on Equity (RoE) 21.1% -8.1% +2914bps 21.7% 15.8% +591 bps 23.6%

 Footprints and Outreach

Particulars 9M FY24 9M FY23
States & UTs 24 23
Branches 1,386 1,267
No. of Employees 13,046 10,641
No. of Loan Officers 9,128 6,992
No. of Clients (Lacs) 34.2 27.0

 Standalone Highlights

Particulars (Rs. crore) 9M FY24 9M FY23 % Change Q3 FY24 Q3 FY23 %Change Q2 FY24
Assets under Management (AUM) 9,811 6,798 44% 9,811 6,798 44% 8,894
Disbursement 6,881 4,844 42% 2,698 1,725 56% 2,202
Profit After Tax (PAT) 298 170 75% 108 55 97% 103
Return on Assets (RoA) 4.5% 3.0% +146bps 4.5% 2.9% +157 bps 4.7%
Return on Equity (RoE) 17.8% 13.3% +456bps 18.4% 12.4% +598 bps 19.7%

 Update on 9MFY24 (Standalone Highlights)

  • Successfully completed equity infusion of Rs. 250 crore via QIP; received strong response from marquee domestic and global investors
  • Long term credit rating upgraded to A (Stable) by ICRA from A- (Stable)
  • Entered into a co-lending arrangement with Karnataka Bank
  • Certified with the highest level of recognition i.e. Gold level in Client Protection Principles by MicroFinanza Rating in accordance with the new framework of SPTF and CERISE
  • PAT stood at Rs. 298 crore, RoA at 4.5% & RoE at 17.8%; profit in the last 9 months surpassed 12 months profit of FY23
  • Observed strong net customer addition of 6.3 Lacs; client base crossed the 3 million mark
  • Disbursed ~Rs. 1,000 crore in a single month, marking the first time such a substantial amount has been distributed
  • Collection against write-offs of ~Rs. 36 crore
  • With operational efficiencies playing out, Opex to Avg AUM has reduced to 5.8% as compared to 6.8% in 9MFY23, decreased by 99 bps
  • Cost to Income ratio stood at 44.9% as compared to 57.5% in 9MFY23

Capital Adequacy and Liquidity

  • Our capital base is strong with a capital adequacy ratio of 28.7% as on 31st December 2023
  • Book Value per share at Rs. 205 on a consolidated basis
  • During 9MFY24, raised Rs. 7,470 crore which is up by 56% as compared to 9MFY23
  • The Company continues to maintain a healthy balance sheet liquidity of ~Rs. 1,800 crore and has undrawn sanctions worth Rs. 1,088 crore as on 31st December 2023

Borrowing Profile

  • Total borrowings stood at Rs. 7,488 crore as on 31st December 2023
  • Debt-to-equity ratio as on 31st December 2023 stood at 3.0x
  • 64% of our borrowings are from banks, followed by overseas funds at 15%, NBFCs at 12% and DFIs at 9%
  • The Company has a diversified and large lender base of 77 active lenders
    • Added 14 new lenders to the portfolio

Asset Quality

  • On-book Gross Non-Performing Assets stood at 2.40% amounting to Rs. 175 crore as on 31st December 2023 as compared to 3.92% as on 31st December 2022 amounting to Rs. 188 crore
  • The portfolio originated from Jul’21 onwards which constitutes ~97% of on-book MFI portfolio has PAR 1 at 2.1% and PAR 90 at 1.0%; better than industry portfolio quality post pandemic
  • We have sufficient on-book provisions amounting to Rs. 146 crore as on 31st December 2023, which is 2.0% of on-book portfolio
  • Gross cumulative collection efficiency for 9M FY24 stood at ~99.0%

Subsidiaries

Satin Housing Finance Ltd. witnessed YoY growth of 58% in AUM, which stood at Rs. 607 crore, having presence across 4 states with 6,512 customers

  • GNPA stood at 1.1% highlighting strong asset quality
  • SHFL has 100% retail book
  • The Company has 24 active lenders including NHB refinance
  • CRAR of 49.5% and gearing of 2.1x
  • PAT for 9MFY24 stood at Rs. 5.2 crore

Satin Finserv Ltd., the Company’s MSME arm, has reached an AUM of Rs. 657 crore

    • Systematically running down the Business Correspondent book to adhere to Principal Business Criteria
    • GNPA stood at 4.6%
    • CRAR of 47.8% and gearing of 1.1x
    • PAT for 9MFY24 stood at Rs. 3.6 crore

Commenting on the performance, Mr. HP Singh, Chairman cum Managing Director of Satin Creditcare Network Limited, said, “In the landscape of robust performance, this quarter has unfolded as an exceptionally triumphant chapter for us, distinguished by a series of notable achievements across various facets of our business operations, like equity infusion of Rs. 250 crore through QIP, a rating upgrade to A (Stable) by ICRA from A- (Stable), gold-level certification in CPP and co-lending agreement with Karnataka Bank, etc. With a strong improvement in business momentum, operating efficiency and asset quality, we delivered our highest ever PAT and recorded a lifetime high AUM of Rs. 11,074 crore. Our growth is backed by strong customer addition coupled with an increase in ticket size to repeat customers. Driven by the robust demand, we recorded a healthy disbursement of Rs. 7,445 crore for 9M FY24, up by 41% Y-o-Y. Since 2008, the company has raised equity of Rs. 1,537 crore, out of which Rs. 595 crore was raised post Covid-19, which signifies the trust placed in us by the market, affirming our standing as a reliable and valued company in the industry. We continue to have a strong liability profile. As we conclude Q3 and look ahead, we remain committed to sustained growth, better cost efficiencies, and maintaining the high quality of our assets. The strong performance in the quarter serves as a foundation for our continued success, and we are well-positioned to seize future opportunities.”

 

CARE Hospitals Unveils Inspirational Video Campaign “ChapterofHope” On World Cancer Day

Hyderabad, India – February 5, 2024 – CARE Hospitals, a leading multi-speciality hospital in India, announced the launch of its latest video campaign, “ChapterofHope,” commemorating World Cancer Day. This initiative aims to raise awareness and extend support to cancer patients, emphasizing the profound strength found in hope.

The campaign, underscored by the theme #ChapterofHope, portrays each day of the cancer journey as a page in a book, symbolizing stages and milestones. It resonates deeply with individuals battling cancer, acknowledging their challenges while highlighting their inherent resilience and unwavering hope.

The heart of the campaign lies in a poignant narrative centered around the life of a vlogger, chronicling a year of his experiences. The video is meticulously crafted to capture slice-of-life moments, revealing that amidst the shadows of a life-threatening illness like cancer, there are bright and optimistic glimpses. It underscores the transformative power of hope, illustrating how a tiny ray of light can illuminate even the darkest days.

 world cancer day

“Our intent with this film is to impart a message of hope—to redefine cancer not as the conclusion of one’s story but as another #ChapterofHope,” shared a spokesperson from CARE Hospitals. “We endeavor to uplift the spirits of those confronting cancer, fostering a sense of optimism. Our dedicated teams of cancer experts and specialists stand committed to delivering advanced treatment and compassionate care, accompanying patients every step of their journey.”

The “ChapterofHope” video campaign is poised to inspire and empower individuals affected by cancer, urging them to embrace hope as an essential companion in their fight against the disease.