Archives July 2024

Pune, Maharashtra, India Bajaj Markets, a digital financial marketplace, has partnered with Shriram Finance to offer high-yielding Fixed Deposits (FDs) online. This partnership aims to provide customers a secure investment option, offering interest rates of up to 9.40% p.a.

The Shriram Finance Fixed Deposit caters to a diverse range of investors, including senior citizens and women, offering additional benefits to maximize their returns. Senior citizens can earn 0.50% p.a. higher interest compared to non-senior citizens.

One can enjoy the following benefits of investing in this FD:

• Additional interest of 0.10% p.a. for women
• 0.25% p.a. increase in interest rate upon renewal
• Flexible tenors ranging between 12 months and 60 months
• Cumulative and non-cumulative interest payout options

This strategic partnership underscores Bajaj Markets’ commitment to expanding its offerings and providing superior financial products that meet the evolving needs of today’s investors. Here’s why individuals should invest in fixed deposits through this marketplace:

• Access to the FD calculator
• Minimal documentation
• 100% online process

Individuals who wish to get started with their savings journey can download the Bajaj Markets app or visit the website. Users can also explore loans, credit cards, insurance, and investments on this financial marketplace. These categories cater to the diverse needs of investors, helping them build a corpus, save money, secure their future, and make sound financial decisions.

Gurgaon, Haryana, India  MTG Learning Media is elated to our entry into the realm of early childhood development with the launch of an enchanting new product designed to spark early literacy and a lifelong love for reading: “My First Library.” This delightful collection of ten captivating board books is specially created for toddlers, blending vibrant illustrations with engaging stories for a magical reading experience from the very start.

“My First Library” is thoughtfully created to provide young children (aged 1 to 3 years) with an engaging and interactive reading experience. Each book in the set is designed with vibrant illustrations, simple text, and durable pages, making them perfect for little hands and inquisitive minds.

Key Features of MTG’s “My First Library”

Engaging Content: Each board book is filled with colorful illustrations and simple, easy-to-understand text that captures the imagination of toddlers and keeps them engaged.

Educational Themes: The ten books cover a wide range of topics including colors, shapes, animals, fruits and everyday objects, providing a comprehensive learning experience for young children.

Durable Design: Made from sturdy, child-safe materials. With rounded corners, it is safe to use. These board books are built to withstand the wear and tear of enthusiastic little readers.

Interactive Learning: The books encourage interactive learning through fun activities and questions that prompt toddlers to explore and discover the world around them.

Bonding between Parent-child: These books enhance the bond between kids and parents.

Development of Curiosity: Interactive elements like lift-the-flap and touch stimulate curiosity in young children and give them a hands-on feeling.

Brain & Speech Development: Introduction to basic topics like animals, colors, fruits, etc., helps in cognitive development and enhances vocabulary at an early age.

Love for Reading and Exploration: Promotes a love for reading, nurturing a lifelong habit of learning and exploration in children.

About the Board Books

These board books are based on 10 themes that cover:

• Alphabets
• Numbers & Shapes
• Colors
• Fruits
• Vegetables
• Farm Animals & Pets
• Wild Animals
• Birds
• Transport
• Body Parts

Why Choose “MTG’s My First Library”?

“My First Library” is more than just a set of books; it’s an essential tool for parents and caregivers to support their child’s early development. By providing a rich and interactive reading experience, these books lay the foundation for a lifelong love of learning and knowledge.

Testimonials

“We love ‘MTG’s My First Library’! The books are beautifully illustrated and perfect for our playschool’s kids’ curious minds. It’s amazing to see how quickly they are picking up new words and concepts,” Pratima Misra, Nunkun PlaySchool, Delhi.

“MTG’s My First Library’ has become an integral part of our daily routine. The books are durable, engaging, and educational – everything we were looking for in early reading materials for our child,” Prashant Kumar, Indore.

Where you can get them

“MTG’s My First Library” is now available for purchase online from www.mtg.in, Amazon or Flipkart and at select retailers nationwide. For any bulk buying queries, connect with the MTG support on 0124-6601200.

My First Library is dedicated to creating high-quality, educational, and engaging products for young children. Our mission is to inspire a love for reading and learning from an early age, helping children develop essential skills that will serve them throughout their lives.

Mumbai, Maharashtra, India  MAAC, a premiere institute and a pioneer in high-end 3D animation Gaming & VFX training, has recently unveiled a significant overhaul to five of its flagship courses, integrating cutting-edge technology upgrades and incorporating essential software and techniques. The revamped courses include IPVAD, AD3D Edge, DGWA, VFX plus, and ADVFX, each tailored to meet the evolving demands of the industry. Recognizing the growing need for skilled professionals in emerging fields, MAAC has also introduced two new courses: 3D and Realtime Design Plus, and UI & UX program, aligning with contemporary industry trends. Notably, most of these programs are GEN AI-enabled, offering advanced learning experiences* (*applicable to select courses), ensuring students are equipped with the latest tools and expertise to excel in their chosen fields.

AI’s integration into the animation & VFX industry has been a gradual yet transformative process. The recent trends are seen where established software is becoming smarter in its workflows by giving users multiple AI-enabled features. These tools offer significant time and efficiency savings for creative professionals, traditionally burdened with labor-intensive tasks. However, it’s important to note that AI currently serves as an assistant rather than a replacement for creative artists. While AI can handle repetitive tasks and suggest design elements, it lacks the nuanced understanding and creative vision inherent in human animators. However, what is important is that advancements in AI hold promise for a more sophisticated procedural content creation process, potentially leading to new avenues of exploration such as 3D animation, visual effects, and immersive design.

Staying ahead of the curve and relevant to the current demands of the industry, MAAC’s courses have also undergone a transformative upgrade with the integration of essential software tools. From GEN AI-enabled graphic design platforms like Canva, Photogrammetry, Substance 3D Stager and Adobe Express to innovative tools like Storyboarder for creative visualization, students are equipped with industry-relevant skills. Advanced software such as Marvelous Designer and Photogrammetry enhance 3D modeling capabilities, while Adobe Substance 3D Stager and tools like Katana and Redshift cater to the growing demand of photo-realistic visuals.

From pre-visualization tools to concept art creation and assistive intelligence, GEN AI empowers students to explore new creative horizons and streamline their workflows. By embracing GEN AI, MAAC ensures that its students are not only equipped with the latest industry-standard skills but also prepared to lead the charge in innovation within the animation, VFX, and digital design industry.

As emerging fields such as real-time design, UI/UX along with growing adoption of experiential design in various industries take centre stage, MAAC has taken proactive steps to ensure its course offerings remain relevant. The introduction of the 3D and Realtime Design Plus and UI & UX program reflects MAAC’s commitment to staying abreast of industry trends and equipping students with the expertise needed to thrive in these burgeoning sectors.

New Delhi, Delhi, India  The much vied-for Greece Golden Visa, (Permanent Residency) is currently one of the most affordable residency programs in Europe and across the world, that provides global high-net-worth individuals (with family) and investors a permanent home in Europe along with ‘visa-free travel across Europe’. Free health and education as well as the freedom to set up a business in the county are among other benefits of the PR.

Indians, who’ve always dreamt of buying a holiday home in Greece, can avoid the impending price increase by taking prompt action and advancing their property purchases with Leptos Estates before August 31 in exotic locations such as Paros, Crete, and Santorini.

Owning a dream holiday home in Greece as well as a Golden Visa with Permanent Residency, is set to become more expensive for all from August 31, 2024. In September, the Greek government will implement new laws that will double the minimum investment required for global citizens to own real estate in Greece.

Coral Bay Vilas Cyprus

Leptos Estates, a prominent real estate and property development firm specializing in residential, commercial and holiday residences including premium apartments and luxury villas in Greece and Cyprus, invites high-net-worth individuals and investors from India to act swiftly and make their property investments in Greece before the rules change later this year.

Over the last few years, the popularity and demand for Greece’s Golden Visa Programme launched in 2013, has surged leading the Greek government to reconsider the entry points for real estate investment and Permanent Residency.

As per the new rule regarding Greece’s Golden Visa Program that is expected to be effective on August 31, 2024, there will be two minimum investment slabs for real estate transactions in the country. In Tier I, which comprises popular areas like Attica, Thessaloniki, Mykonos, Santorini, and the islands, the minimum investment is expected to go up to Euro 800,000 from the current Euro 500,000; and in Tier II that covers all other regions of Greece, the entry point will go up to Euro 400,000 from the current Euro 250,000.

“As the deadline approaches, prices are expected to surge, potentially making the dream of owning a Greek home less attainable for Indian investors. We urge high net-worth individuals and investors to grab this unique once-in-a-lifetime opportunity to secure a Permanent Residency in Greece while enjoying the chance to make promising returns on their investment at a minimum cost of an affordable Euro 250,000. Once the new rules come into effect, the cost will double, and it will be a great chance missed. We have some aesthetically and sustainably designed, fully functional apartments and villas across Greece and in regions like Paros Crete, and Santorini that would make great homes for global citizens,” said Sanjay Sachdev, Group Marketing Director, Leptos Estates.

Aphrodite Gardens Cyprus

Investors can still apply under the current Euro 250,000 minimum threshold if they pay a 10% deposit by Aug 31, 2024, and finalise the investment by December 31, 2024.

Among the several benefits of owning both a home and a Permanent Residency in one of the world’s oldest civilizations is visa-free travel within Europe’s Schengen area, high returns from Greece’s booming real estate market, perfect weather throughout the year, and a chance to experience the charming, idyllic Mediterranean culture.

The Residency applies to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse) with eligibility to apply for citizenship also

Foreign homeowners in Greece are not required to reside in Greece and residence permits can be acquired within 6 months. Owners also have the option to rent out their investment property.

Aster DM Healthcare Limited (“Company”), one of the largest integrated healthcare providers in India, has announced its expansion plan for Aster CMI Hospital, a leading multispecialty hospital in Bengaluru. The unit will have an additional infrastructure expansion of 300,000 sq feet thereby increasing its bed capacity from the existing 500 beds to 850 beds. With this development, the company is further strengthening its presence in Bengaluru, reaching a cumulative bed strength of 1602 beds, thereby becoming one of the largest healthcare providers in the city. The Company will invest around Rs. 250 cr to upgrade the existing facility and is expected to be commissioned by FY2027.

Spread across an area of 4.45 lakh square feet in Hebbal, Bangalore, Aster CMI Hospital, is one of the leading super-specialty hospitals with contemporary state-of-the-art facilities offering comprehensive primary care to quaternary care services. Since its launch in 2016, the hospital has secured its place as one of the best multispecialty hospitals in the country today – a testament to the hospital’s dedication of continuously raising the bar for clinical standards in the country.

Dr. Azad Moopen, Founder Chairman, Aster DM Healthcare said, “Our phase-wise expansion is aligned with our vision to serve the growing needs for advanced and quality healthcare. Aster CMI Hospital since its launch in 2016 has revolutionized the healthcare market in Bengaluru and the whole of South India. Today, the hospital stands amongst the leading players in the market. With many innovative and ambitious initiatives, Aster DM Healthcare has radically catalyzed the healthcare revolution in India. The current Indian healthcare market looks highly promising, and our efforts will be to increase our footprint in the country dynamically. We are investing heavily in our people, innovation and infrastructure to differentiate ourselves and create long-term value for all our stakeholders. The expansion of Aster CMI Hospital thus solidifies our unwavering commitment to the Indian business. The overall India business EBITDA for Aster DM Healthcare has grown at the rate of 35% CAGR over the past 5 years, which is reflected in the performance of EBITDA margin as well. We expect the strong performance to continue in the future, which will be supported by operational leverage on account of brownfield expansion and implementing various cost optimization measures.”

Dr. Nitish Shetty, CEO, Aster DM Healthcare, India said, “We are running our existing hospital (Aster CMI) at full capacity, hence we have decided to expand the infrastructure to accommodate the growing needs of patients. Aster CMI Hospital has already set new benchmarks on healthcare excellence and this expansion cements our promise to making quality healthcare easily accessible to the people in the region. This expansion of Aster CMI Hospital is expected to have a positive impact on both EBITDA and PAT, as it involves minimal fixed costs for operating the additional beds. We do not expect any margin dilution in the short term as well. Aster DM Healthcare (“Company”) is poised to make a significant impact on the healthcare landscape its focus on strategic growth, patient-centric care, and expansion in existing and newer geographies.”

The Company plans to add ~1700 beds by FY27 taking the total bed tally in India to 6600+ through the organic route and will further look for expansion through the inorganic route as well to achieve its aim of becoming the top 3 integrated healthcare providers in India along with a strong presence of labs and pharmacies in the geographies that Aster has a presence in. The plan encompasses a mix of brownfield and greenfield projects, including the upcoming Aster Capital in Trivandrum, and Aster MIMS Kasargod and adding bed capacity to the existing hospitals. The Company will also be eyeing potential markets such as Maharashtra and Uttar Pradesh. The capital allocation for this expansion is in the range of 1000cr.

As one of the most trusted healthcare providers, Aster DM Healthcare aspires to keep on raising the benchmark and continue its unwavering dedication of providing outstanding care to its patients.

Hong Kong The Hong Kong Tourism Board and the Hong Kong-China Dragon Boat Association have announced the highly anticipated 2024 Hong Kong International Dragon Boat Races, welcoming tourists from around the world to witness the historic event. The two-day legendary sporting festival is scheduled to take place on June 15 and 16, 2024, against the stunning backdrop of Victoria Harbour. This international event will see over 170 teams and 4,000 global dragon boat athletes compete over an exhilarating weekend.

With summer breaks around the corner, Hong Kong is an ideal destination for tourists from India looking for exhilarating adventures and unique fun-filled water activities in the heart of the city to beat the heat. June is all about exciting “splash-tastic” fun starting with the historic, not-to-be-missed Hong Kong International Dragon Boat Races and moving onto music and water festivities to make the most of summer.

Dragon boat races originated centuries ago; however, the modern version began in Hong Kong around 40 years ago, in 1976. The high-paced sport, which is hosted annually, attracts hundreds of thousands of spectators and overseas visitors, offering them the opportunity to witness the excitement of dragon boat races while also experiencing the rich and authentic local culture.

This year, in addition to race categories for teams of all ages and the colourful fancy dress competition, visitors can explore an array of Instagram-ready dragon boat-themed LINE FRIENDS displays and indulge in local speciality drinks and sweets while cheering on the races. The event will also feature a food lane along the Avenue of Stars for nine days, starting June 8 till June 16, offering local craft beer, refreshing desserts, and ice-cold drinks.

The colourful Fancy Dress Competition, with teams dressing up as different characters in the race, always create a fun-filled ambience. (Photo: Hong Kong Tourism Board)

The Drone and Pyro Show at Victoria Harbour

Not to be missed are the monthly Drone and Pyro shows at Victoria Harbour that elevate the overall appeal of the celebrations. On the night of June 10, a newly curated drone show will be launched over the harbour, adding an extra layer of enchantment to the festivities that resonate throughout the city. A captivating Pyrotechnic Display is scheduled on June 15, the first day of the Hong Kong International Dragon Boat Races, to invite international visitors to enjoy a spectacular show under Hong Kong’s skyline after a full day of exciting races.

More events splashing into town in June

Making its debut this year on June 1st and 2nd is the popular Korean festival called Waterbomb, an event known for its music and water fights. The exciting water festival, hosted at the West Kowloon Cultural District, will showcase vibrant performances by renowned Korean artists such as Jay Park, Rain, Jessi, Hyuna, and more. Tourists and other audiences will also get a chance to experience thrilling water fights with their favourite stars.

The second week of June, i.e., June 8 and 9, will witness Hong Kong celebrate the largest water music festival – S20 – bringing electrifying performances by internationally acclaimed DJs and artists to the Central Harbour Front. From the power, excitement, and cultural splendour of the thrilling Hong Kong International Dragon Boat Races to immersing oneself in the water-splashing music festival at Hong Kong’s world-famous harbourfront, the city promises a fun-filled June to everyone. For more details and to start planning your next visit, head to www.discoverhongkong.com/eng.

Noida, Uttar Pradesh, India Amity Software Systems Limited, a leading provider of cutting-edge software solutions, continues to push the boundaries of technology. Known for its obligation to greatness and consumer loyalty, Amity Software remains as a signal of development in the worldwide programming industry.

Amity Software has consistently delivered state-of-the-art solutions tailored to meet the evolving needs of diverse industries. With an emphasis on development, quality, and client-centricity, the company has earned far and wide praise for its capacity to address complex difficulties with simplicity and efficiency.

“At Amity Software Systems Limited, we are driven by a passion for innovation and a commitment to delivering superior solutions that empower businesses to thrive in a digital world,” said Lt Col Suresh Narayanan, General Manager at Amity Software Systems Limited. “Our team of experts combines technical expertise with creativity to develop solutions that not only meet but exceed the expectations of our clients.”

Amity Software’s employees exemplify the company’s core values of excellence, innovation, and customer focus. At Amity Software Systems Limited, representatives are not just workers; they are esteemed individuals from a dynamic and cooperative group. Employees bring their unique skills, knowledge and experiences to the table, contributing to the company’s success and growth.

Amity Software’s dedication to research and development is one of its key success factors. The company puts vigorously in Research and development drives to remain in front of arising trends and technologies, guaranteeing that its answers are dependably at the front of development. Amity Software Systems Limited empowers its team to push boundaries and explore new software development frontiers by encouraging a culture of continuous learning and exploration.

With a different portfolio of solutions crossing different enterprises like farming, coordinated factors, medical care, and money, Amity Software takes special care of the one of a kind necessities of its clients across the globe. From enterprise resource planning systems to supply chain management solutions, the organization offers an extensive set-up of items intended to smooth out tasks, improve proficiency, and drive development.

In addition to its commitment to development and quality, Amity Software puts extraordinary accentuation on customer satisfaction. The company works intimately with its clients to figure out their particular requirements and difficulties, giving customized arrangements that deliver substantial outcomes. Amity Software Systems Limited has established long-term partnerships with businesses of all sizes, from start-ups to multinational corporations, by focusing on its customers.

“Customer satisfaction is at the heart of everything we do at Amity Software Systems Limited,” said Lt Col Suresh Narayanan, General Manager at Amity Software Systems Limited. “We believe in establishing strong relationships with our clients based on trust, transparency, and mutual respect. By prioritizing their needs and striving for excellence in everything we do, we aim to become their trusted partner in their journey towards success.”

Amity Software stays focused on pushing the limits of advancement and conveying unmatched worth to its clients. With a tireless focus on greatness and an enthusiasm for innovation, the organization is ready to proceed with its development direction and concrete its situation as a worldwide leader in software solutions.

Jodhpur, Rajasthan, India  Marwari Catalysts, a dynamic force in the entrepreneurial landscape, has supported over 25+ innovative startups from Rajasthan within its extensive portfolio of more than 80 startups. This remarkable growth, achieved in just three years, is further bolstered by its unique 100+ co-founders club. By nurturing local talent and fostering innovation, MCats is shaping a stronger and richer future for the region.

With game-changing startups like TURMS, Jaipur Watch Company, Insurance Padosi, Revoquant, Yearbook Canvas and Climekare, MCats, a leading startup accelerator is driving innovation. With four portfolio founders being featured on Shark Tank (Surender S. Rajpurohit, TURMS; Alpna Tiwari, Nushka Kitchen; Jaipur Watch Company, Gaurav Mehta; Deepesh Rajpal, Onedose), We have experienced 50x growth and savored 10x exits. MCats showcases the entrepreneurial spirit that sets Rajasthan’s scene apart from just deserts and palaces. These ventures, collectively generating over 200 crore in revenue, employing more than 1,200 people, and having raised over 125 crore in funds, are revolutionizing industries and paving the way for a prosperous future in the region.

MCats has built strong associations with several esteemed government and private incubators. Notable among these are IIT Jodhpur, iStart Rajasthan, Madhav University, and Ayurveda University. These collaborations enhance MCats’ capacity to nurture and accelerate startups, leveraging the rich resources, expertise, and innovative ecosystems these institutions offer.

Sushil Sharma, the visionary Founder of Marwari Catalysts, has always been motivated by a profound desire to contribute to his homeland and connect like-minded people. He says “gold” lies in Tier 2 and Tier 3 cities. MCats create local opportunities, reducing the need for migration to bigger cities. With a team of seasoned shareholders and mentors who have “been there, done that,” they offer invaluable guidance to emerging entrepreneurs. The 100+ Co-Founders Club fosters a collaborative environment where innovation thrives. This is just the beginning, as Sushil Sharma hints at even more ambitious plans ahead.

Spotlighting Rajasthan’s Leading Startups

Showcasing over 25 innovative startups from Rajasthan, categorised by their unique sectors.

Lifestyle

1. TURMS
2. Jaipur Watch Company
3. Prakrti
4. Thela Gaadi

Fintech

1. Revoquant
2. Insurance Padosi

Consultancy

1. Startup Chaupal
2. Click Catalysts

Edtech

1. Yougami
2. Learn N Build
3. Yearbook Canvas

D2C

1. First Crack Coffee Roasters
2. Freshwoof
3. Nuskha Kitchen
4. Prakrti
5. Thela Gaadi
6. Temporal Trendsetters

E-Commerce

1. Mobi Rapid

Health Care

1. Near Ambulance
2. Pratap IVF
3. Sarathi Health Care
4. One-Dose

Media & Entertainment

1. Jhumo Radio

SAAS

1. Literom

Sustainable & Climate Tech

1. Buy By Scrap
2. Climekare

Community Building

1. WorkAffair
2. Sarathi Health Care
3. The Book Cafe

Agritech

1. Freshokartz

Empowering Rajasthan’s Visionaries

We are incredibly proud of the remarkable startups emerging from Rajasthan,” said Sushil Sharma, Founder of Marwari Catalysts. “These startups embody the innovative spirit and entrepreneurial excellence that we strive to nurture at MCats. By supporting them, we aim to catalyse a new wave of growth and innovation in the state.

Gaurav Mehta, Founder of Jaipur Watch Company, shared his thoughts: “MCats is not just an accelerator, It is a community of like minded people, supporting each other to achieve something greater, More such initiatives are required PAN India to strengthen Indian ecosystem better.”

“MCats has been instrumental in our journey at TURMS, providing us with invaluable resources. Their unwavering support has not only helped us grow but also empowered numerous startups across India. MCats is truly transforming the startup ecosystem, creating opportunities for local talent to thrive and innovate.” remarks Surendra S. Rajpurohit, Founder & CEO of TURMS.

“Marwari Catalysts has transformed our journey with their strategic insights, financial backing, and giving us a second opinion in legal, marketing, branding, infrastructure & pivoting HR. Their unwavering support has fueled our innovation and growth, making a significant impact on the startup ecosystem,” shares Kapil Soni, Founder of Revoquant.

“Marwari Catalysts has been crucial in offering reverse brain-drain, creating the entire ecosystem; cafe, co working space, events, activating angel investor & finally, the acceleration program including funding,” asserts Anish Thomas, Head- Government Initiatives at Marwari Catalysts.

Driving Innovation and Economic Growth

MCats is dedicated to providing startups with the financial resources, strategic guidance, and mentorship they need to thrive, fostering a strong sense of community. By focusing on diverse sectors such as FinTech, SportTech/Gaming, ReligionTech, AR/VR, D2C, Ayurveda, Enterprise AI, MediaTech and Entertainment, PropTech, DefenceTech, BioTech, Food and AgriTech, Climate Change, Healthcare, Supply Chain Logistics, SpaceTech, and Tourism and Hospitality, MCats is addressing critical challenges and unlocking new opportunities for growth and development in Rajasthan. The 100+ Co-Founders Club exemplifies their commitment to collaboration and innovation.

The latest cohort, Thrive 8.0, epitomizes this commitment, supporting innovative startups across these key industries to foster a robust and dynamic startup ecosystem in the region. Additionally, MCats hosts an annual flagship event, Startup Xchange, which brings together entrepreneurs, investors, and industry leaders. This year, four startup Demo Days are scheduled in Mumbai, Bangalore, Delhi and Jaipur, providing a platform for startups to showcase their progress and innovations to potential investors and partners.

Join the Movement

Investors and entrepreneurs are invited to join this transformative journey, contributing to the growth and success of Rajasthan’s burgeoning startup ecosystem. Together, we can create a brighter, more prosperous future for Rajasthan, driving innovation and fostering a culture of entrepreneurship that will benefit generations to come.

Gurgaon, Haryana, India  Reflex Gurugram, is thrilled to announce a significant achievement in their ongoing commitment to quality and community service which was announced in January 2023. Reflex Food Drive initiative has successfully distributed 100,000 packages, underscoring the dedication to providing top-notch culinary experiences across the region.

This milestone represents more than just a number; it is a testament to the hard work, passion, and support from the Reflex team and the community. The Food Drive initiative was launched with the mission to bring the exquisite flavors and exceptional quality of Reflex Gurugram, to more people, especially during challenging times. With 100,000 packages delivered, Reflex is proud to have made a meaningful impact on the community, ensuring that everyone has access to delicious, high-quality food.

Suman Bharti, Founder of Reflex Gurugram, said, “We are incredibly proud to have reached this milestone. This achievement is a reflection of our unwavering commitment to our customers and the community. We are grateful for the continued support and look forward to reaching even greater heights in the future.”

As we celebrate this milestone, Reflex Gurugram extends heartfelt thanks to everyone who has supported us on this journey. From our dedicated staff who work tirelessly to prepare and deliver these packages, to our loyal customers who continue to choose Reflex Gurugram this achievement belongs to all of us.

To join Reflex’s food drive and be a catalyst for change in the community, individuals are invited to visit www.reflexbrewery.com/food-drive. Reflex welcomes participation from all who wish to contribute to this noble cause. Whether through donations, volunteering, or spreading the word, every act of kindness helps make a difference.

New Delhi, Delhi, India Best Agrolife Limited (BSE: 539660, NSE: BESTAGRO), amongst India’s leading agrochemicals manufacturers, announced its audited financial results for the quarter and financial year ended March 31st, 2024 in the Board meeting held on 24th May, 2024.

Commenting on the result and overall update on the financial year 2023-2024, Mr. Vimal Kumar, Managing Director, Best Agrolife Ltd. said, “Despite the many challenges faced during the year, for the full year FY24, our revenue grew by 7% on Y-o-Y basis. This growth was driven by our shift in business strategy from institutional sales to branded sales. This has resulted in the growth of our branded business by 85%. However, the EBITDA margins reduced to 12% in FY24, mainly because of the stress on the gross margin due to pricing pressures in the market, primarily caused by oversupply from China. Combination of weather factors, our shift towards branded products, and an expanding distributor network led to higher trade inventory.

Additionally, employee costs have gone up due to a shift in business strategy. The planned increase in employee cost is a strategic investment to strengthen our sales distribution network. Also, other expenses have risen due to incremental marketing costs for focus on branded business.

Despite the high competition from imports, particularly pricing pressure from China and the challenges posed by the global economic climate, we have maintained good profit margins.

This year, our company achieved several significant operational milestones. We became a major partner in Kashmir Chemicals by acquiring a 99% stake, increasing our formulation capacities. Our strategic acquisition of Sudarshan Farm Chemicals will allow us to leverage SFCL’s robust R&D capabilities, IP portfolio, and backward-integrated technical manufacturing expertise. These developments will be crucial in enhancing our manufacturing and innovation capabilities.

The company continues to build upon a strong registration portfolio having garnered 94 registrations for newer technicals and formulations in FY’24. We have established a strong foundation for accelerated growth by securing patents for newer groundbreaking products. In FY’24 we launched multiple products, including our patented formulation “Tricolor”. Our past investments in research will see us launching multiple patented products such as “Warden Extra”, “Defender”, “Orisulam” and potentially “Shot Down” in FY’25. The new additions to our patent portfolio will see us reaping the fruits of our investments in FY’25 and beyond.

We continue to strategically expand our R&D capabilities with potential yields in the upcoming years. We are committed to developing safer and newer chemistries that are beneficial for the farmer and the environment. With a robust pipeline of new innovative and patented products coupled with an increased market presence, we are well-positioned to capitalize on emerging opportunities and drive value for our shareholders.

We have entered the new fiscal year with an optimistic outlook with our focus on delivering value to the farmer through R&D. I thank all our stakeholders for their continued support and faith in our company.”

For the quarter ended March 31st, 2024:

• Revenue from Operations declined by 46.68% Y-o-Y to Rs. 135.39 crore in Q4 FY24 compared to Rs. 253.91 crore in Q4 FY23, due to an unexpected seasonal failure, of Q3 and Q4 of FY24 as against normal seasonal conditions in same period last year, leading to lower-than-expected sales coupled with surge in sales returns
• Q4 FY24 EBITDA (excluding Other Income) was a loss of Rs. 67.10 crore against a profit of Rs. 7.14 crore in Q4 FY23
• Q4 FY24 PAT stood at loss of Rs. 72.49 crore against a loss of Rs. 8.41 crore in Q4 FY23, caused by price erosion and our investments in brand building

For the year ended March 31st, 2024:

• Revenue from Operations grew by 7.31% to Rs. 1,873.32 crore in FY24 compared to Rs. 1,745.68 crore in FY23. This is mainly due to significant growth in branded sales as compared to the previous corresponding period
• FY24 EBITDA (excluding Other Income) was at Rs. 225.59 crore against Rs. 313.66 crore in FY23, a decline of 28.08% on Y-o-Y basis. This is mainly due to shift in business strategy from institutional sales to branded sales, which has resulted in higher employee costs and other expenses. The increase in employee costs is attributable to the strategic investment in manpower to expand the dealer network. Additionally, other expenses have increased due to incremental travel and marketing expenses
• FY24 PAT stood at Rs. 106.27 crore.
• The Board recommended a final Dividend, subject to approval of shareholders, of Rs. 3 (30%) per equity of face value Rs. 10

Business Achievements/Developments in FY24:

Inorganic developments/Partnerships:

• Partnered with Syngenta for Pyroxasulfone 85% WG Herbicide “Movondo” becoming the first company in India to manufacture both the active ingredient and formulation of Pyroxasulfone
• Acquired 99% stake in Kashmir Chemicals, increasing our formulation manufacturing capacity
• Acquired Sudarshan Farm Chemicals, enhancing our R&D and Technical manufacturing capabilities

Products & Patents:

• Launched patented product “Tricolor”
• Developed a pipeline of patented products for launch in FY’25 and beyond
• Secured patents for 4 innovative groundbreaking agricultural solutions that are expected to have positive outcomes in FY’25.

Others:

• Got listed on National Stock Exchange
• Entered into a three MW solar plant power sharing agreement at the Gajraula unit, reducing energy costs by 33%
• Awarded the “Most Innovative Campaign and Product Development” company by PMFAI at the “Agchem Awards – 2024”