Archives July 2024

Mumbai, 31 July 2024: TVS Supply Chain Solutions Limited (NSE: TVSSCS, BOM: 543965), a global supply chain solutions provider and one of the largest and fastest-growing integrated supply chain solutions providers in India, today announced its consolidated unaudited financial results for the quarter ended 30th June 2024. The company continued its profit momentum and reported a net profit of Rs. 7.5 Cr in Q1 FY 25 as against a loss of Rs. 51.2 Cr in Q1 FY 24. Its consolidated revenue grew by 10.9% to Rs. 2,539.4 Cr as against Rs. 2,288.9 Cr in Q1 FY 24.

The summary of the financial performance of the two operating segments viz., Integrated Supply Chain Solutions (“ISCS”) segment and Network Solutions (“NS”) segment are provided along with the summary of the consolidated financial performance.

Integrated Supply Chain Solutions (“ISCS”) Segment:

• The ISCS segment posted a quarterly revenue of Rs. 1,425.9 Cr as against Rs. 1,318.9 Cr in the same quarter the previous year, continued its growth trajectory with an 8.1% growth YoY. This growth was driven by a combination of new customer additions, encirclement (additional wallet share with existing customers), and continued diversification of the customer base.

NS segment reported quarterly revenue of Rs. 1,113.5 Cr, as against Rs. 970.0 Cr in the same quarter the previous year marking a 14.8% growth on a Y-o-Y basis. The growth was driven by a volume surge in the ocean freight business.

For Q1 FY 25, on a consolidated basis, the revenue stood at Rs. 2,539.4 Cr as against Rs. 2,288.9 Cr. in the same quarter last year reflecting 10.9% growth on a Y-o-Y basis. Continued growth momentum in the ISCS segment and improved macroeconomic situation in the NS segment helped achieve this topline growth.

Commenting on the Q1 FY25 performance, Mr. Ravi Viswanathan, Managing Director, said, “We had a strong first quarter, driven by topline growth in both our ISCS and NS segments. The ISCS segment continues to lead our performance supported by significant volume improvements in the NS segment. Our customers recognize our supply chain transformation capabilities, tech-led solutions, and the ability to deploy AI-driven solutions resulting in our participation in more large deals.”Top of Form

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He further added, “We see a significant growth opportunity in India following the recent budget announcement, which has provided a strong impetus for the manufacturing sector. This development is expected to open up more outsourcing opportunities for supply chain players like TVS SCS.”

Commenting on the Q1 results, Mr. Ravi Prakash Bhagavathula, Global CFO, said, “Investments in process automation and productivity initiatives have driven improvement in operating margins. This combined with effective debt management has led to PBT improvements for the last four quarters. Our robust order pipeline combined with our focus on operational efficiencies give us the confidence to sustain this growth momentum in the upcoming quarters.”

During the quarter, the company made significant strides by securing key new business wins, including partnerships with global OEMs in the commercial vehicle sector in both India and Singapore. Among the notable achievements, the company received ‘Partner Level Supplier’ recognition from a U.S.-based global farm equipment manufacturer. Additionally, a strategic collaboration with a leading UK-based university was established to drive innovation in artificial intelligence. The company also demonstrated its operational prowess by successfully delivering 500,000 Completely Knocked Down (CKD) kits to a major Indian two-wheeler manufacturer.

BENGALURU, India – July 31, 2024 – Samsung Electronics Co., Ltd. today announced that Jong-Hee (JH) Han, Vice Chairman, CEO, and Head of the Device Experience (DX) Division at Samsung Electronics, is currently on his second visit to India this year. The trip signals the growing importance of the country for the South Korean giant and includes Han’s visit to the company’s Noida factory — where Samsung manufactures smartphones, tablets, and refrigerators.

“India is one of the biggest and fastest-growing markets globally and offers a huge opportunity for Samsung,” said Han. “We were among the first companies to invest in India, and I am happy that the Noida factory has emerged as one of our biggest facilities, manufacturing not only for India but for the world.”

Samsung unveiled its “AI for All” vision — which aims to improve the lives of consumers by bringing artificial intelligence and hyper-connectivity through open collaboration — at the start of the year.

This year, Samsung’s Galaxy AI-powered premium smartphones and Bespoke AI home appliances — such as refrigerators, ACs, and washing machines — have together created a unique connected devices ecosystem, enabling consumers to save energy besides providing convenience, connectivity, and comfort.

This ‘One Samsung’ experience driven by advanced technology has helped create differentiation for the company’s products and is driving strong consumer interest in segments such as premium refrigerators, which has been growing rapidly over the past years in India as consumers shift to big-capacity refrigerators providing enhanced features. Samsung continues to show leadership, introducing premium products into the market with Bespoke design and AI features.

Han also praised the contributions that India-based R&D teams are making in the development of new products and services.

“India has a large population of tech-savvy young consumers that inspire us to innovate,” Han added. “I am proud that many young, enterprising engineers who are playing an important role in the development of AI are working at our R&D centers in India.”

While Samsung is deeply dedicated to its commitment to “Make in India” through its two state-of-the-art manufacturing plants at Noida and Sriperumbudur, it is equally invested in a design center in Noida and three Research and Development (R&D) facilities. Of the three R&D facilities, that drive innovation for both local and global products, two are located in Noida and one in Bengaluru.

Date 31/07/2024: ORRA Fine Jewellery, India’s leading diamond jewellery brand is thrilled to announce the launch of its latest sub-brand, Solis – Always on Shine. This exquisite line epitomizes minimalism, designed to cater to the modern woman’s dynamic lifestyle. From boardroom meetings to casual brunches, and intimate self-care days, Solis offers timeless elegance for every moment of the week.

Solis from the House of ORRA is a perfect match if you are looking for diamond jewellery at an affordable price range with trendy designs. ORRA introduces an unparalleled fusion of elegance and versatility priced affordably, starting at just Solis’s exquisite jewellery is meticulously crafted to enhance natural beauty with diamond-studded precision and refined elegance. Solis enhances your wardrobe, offering stylish designs for every day of the week. Enjoy seven chic looks over seven days, perfect for any occasion. Each design, from delicate pendants to sleek bracelets, elegant rings, and refined earrings, seamlessly transitions from professional settings to casual outings and moments of self-care. The designs’ versatility showcases a professional look on Monday, minimalist chic on Tuesday, classic style on Wednesday, and effortless day-to-night transition on Thursday, it provides casual sophistication on Friday, relaxed elegance on Saturday, and a polished brunch-ready look on Sunday. Under Solis, you have the flexibility to select assorted designs to stay aligned with the latest fashion trends and elevate your styling game.

ORRA’s commitment to craftsmanship and elegance ensures that every piece tells a unique story of art and celebration. The brand is known for providing 100% certified jewellery with complimentary insurance and free lifetime maintenance. Customers can also benefit from ORRA’s lifetime exchange, buyback, and seven-day return policy for conflict-free diamonds. Moreover, ORRA offers a six-month upgrade facility, and all its jewellery is BIS Hallmark Certified.

Maharashtra, 30 July 2024: Ambuja Cements, the cement and building material company of the diversified Adani Portfolio, continues to empower rural communities and promote sustainable agriculture practices. Through CSR efforts, and a focus on fostering sustainable livelihoods, it has met with immense success through initiatives including the Improved Agriculture Project. This project, which focuses on training, access to improved seeds, and sustainable agricultural techniques, has brought about significant transformations in vegetable farming in the rural areas of Nagpur. The recent success of farmer Mr. Umesh Chandrawanshi highlights the transformative impact of this initiative.

Mr. Umesh, a resident of Khandala village in rural Nagpur, previously struggled with limited income from traditional farming. However, with guidance from Ambuja Cements’ CSR team, he embraced modern agricultural techniques like drip irrigation and mulching for his brinjal cultivation. Through this innovative approach, Mr. Umesh achieved remarkable results, generating a net profit of ₹1.26 lakh from just 1.25 acres of land.

The farmer’s success lies not only in adopting modern technologies but in also embracing sustainable practices. Mr. Umesh minimized pesticide costs by applying eco-friendly solutions like yellow sticky traps and bio-pesticides. This commitment to sustainability ensures both financial gains and environmental well-being.

Mr. Umesh Chandrawanshi has witnessed a significant increase in his vegetable production, doubling his income and improving his family’s livelihood. His journey serves as proof of the project’s potential to transform the lives of rural communities. His rise to becoming a millionaire is a powerful inspiration to other farmers, demonstrating that with the right support, knowledge, and technology, agriculture can become a pathway to prosperity.

Ambuja Cements remains committed to creating a positive impact on the lives of farmers and communities through innovative initiatives. The company believes in empowering rural communities to achieve sustainable growth and a better future.

Breakbulk shipping is revolutionizing the logistics sector by introducing specialized handling techniques for diverse cargo types, which necessitate innovative equipment. This method offers greater flexibility, allowing for the transportation of oversized and irregularly shaped goods that don’t fit standard containers.

Modern technology enhances efficiency by streamlining loading processes and reducing operational costs. Additionally, breakbulk shipping opens up new markets and trade routes, particularly benefiting industries such as construction and energy. However, it also introduces complex supply chains, requiring advanced logistics solutions to manage high-value and varied cargo effectively.

Here are the top 5 shipping companies that are providing breakbulk services to strengthen their position in the ever-growing market:

Maersk Line

From our humble beginnings as a steamship company to becoming the Global Integrator of Logistics, our heritage has many facets. They are proud of their long history of connecting the world and delivering value through our actions, commitments, and goals. It stands out with its advanced logistics technology and vast network of shipping routes.

RASPN Shipping

Since 1988, RASPN Shipping has embraced the evolving transportation sector, constantly innovating to bring global standards to India. They specialize in international freight and logistics, offering comprehensive services including breakbulk shipping, multimodal freight forwarding, shipping operations, supply chain management, customs clearance, warehousing, and trucking. At Raspn Shipping, they prioritize quality service, integrity, and cost efficiency, fostering long-term relationships with our customers.

SEAL freight

Established in 1990, SEAL FREIGHT has emerged as a leading Logistics service provider in INDIA.In this short time, the Company has been able to entrench itself as a niche choice for a large number of Indian exporters & importers for any of their logistics needs, and that so at a global level. Working on the principles of Partnership, Proficiency, and Quality management, SEAL has created a win-win situation where its customers get a one-stop solution for any sea, land, and air cargo transportation, direct outbound and inbound services to & from major cargo destinations worldwide.

OOCL

OOCL is well respected in the industry with a reputation for providing customer-focused solutions, quality services, and continual innovation. It is also an industry leader in the use of the latest technologies to enhance global supply chains. OOCL’s modern fleet today includes some of the youngest, largest, fuel efficient, and environmentally friendly vessels carrying cargo on hundreds of trade routes around the world, providing a vital link in Global Trade.

Ocean Network Express

Ocean Network Express (ONE), formed in 2017 from a merger of Japan’s Nippon Yusen Kaisha, Mitsui O.S.K. Lines, and K Line, is a leading global container shipping company. With a combined fleet capacity of about 1.4 million TEU, ONE is now the sixth-largest container fleet in the world. The company focuses on integrating and unifying the operations of its founding lines to streamline business processes.

Conclusion

In the realm of maritime excellence, these top five shipping companies are pillars of reliability, innovation, and global connectivity. From Maersk Line India’s formidable fleet to RASPN Shipping’s expertise in breakbulk services, each plays a crucial role in advancing India’s shipping and logistics sector.

With cutting-edge fleets, a strong commitment to customer satisfaction, and a focus on sustainability, these leaders are propelling India toward new heights in international trade. They seamlessly link Indian ports to global markets, shaping the future of the maritime industry and driving economic growth.

Hyderabad/Mumbai, July 30, 2024: Kansai Nerolac Paints Limited (KNPL), one of the leading Paint companies in India, today at the Board meeting announced its unaudited results for the first quarter of the financial year 2024-25. For the quarter, the company declared Net revenue of Rs. 2050.4 Crores, a degrowth of 1% over the corresponding quarter of the previous year.

EBITDA was at Rs.334.4 Crores, a growth of 0.2% over the same quarter of the previous year. PBT before the exception item was at Rs 323.4 Crores a growth of 6.2% over the same quarter of the previous year.

Commenting on the results, Mr. Anuj Jain, Managing Director, of Kansai Nerolac Paints Ltd said, “The quarter continued to witness good demand for Automotive Coatings. Demand for Decorative was muted due to unprecedented heat waves, labor shortages, and elections. Demand for Performance Coating was subdued however it picked up in June.

A combination of measures like cost control, product mix, and procurement efficiencies helped improve gross margins over the corresponding quarter last year. Raw material prices have now gradually started to harden due to various geopolitical issues. The company is actively taking steps to mitigate this cost increase. The company is also undertaking various initiatives in the digital space to improve its efficiency in the marketplace.

Looking forward, with a favorable monsoon demand should improve for decoration. Given the continued thrust on infrastructure growth, new projects, and order pipeline we believe demand for performance coatings should be strong.”

Houston/US: Dr. Joseph Sunny Kunnassery, Director of the Prayatna Center for Child Development in Kochi and Secretary of the All India Occupational Therapy Association (AIOTA) has been honored with multiple awards in Missouri City, USA, for his innovative treatment methods for children with autism.

The awards were presented at a ceremony inaugurated by Missouri City Mayor and Malayali Robin Ilakkatt. Missouri City Collector Angel Jones presided over the event. Mayor Robin Ilakkatt praised Dr. Joseph’s valuable contributions to the field of child mental health, saying that it’s a matter of pride for the people of Kerala.

Robin Ilakkatt is a mayor in the US for the effective initiatives he came up with, that Malayalis can be proud of.

GURUGRAM, India – 30 July 2024: Samsung, India’s largest consumer electronics brand, today said that consumers are gravitating towards larger washing machines, driven by convenience and superior wash performance.

A larger drum size for the washing machine provides better wash quality while allowing users to wash more clothes per load, eventually reducing the frequency of washing machine usage – making it time and energy-efficient. Bigger drum sizes in washing machines allow more space for the movement of clothes, thus leading to better-cleaned and untangled clothes, Samsung India said.

Larger washing machines are also particularly helpful in washing essential home items like bedsheets, curtains, and saris which are common in Indian households. As Indian consumers continue to prioritize convenience and efficiency, the demand for bigger washing machines is expected to rise even further, according to Samsung India.

The consumer trend resonates with the latest industry data, which shows that sales of front-load washing machines with 9Kg and above capacities have grown by 45% so far this year, while the 7Kg and below front-load washing machine category has witnessed a fall of 26% during the same period.

According to a consumer dipstick survey done by Samsung India, some users ensure the laundry drum is always full, optimizing its use and minimizing energy consumption, while some users tend to run a second wash cycle with just a few clothes, which can lead to water wastage. Further, the survey revealed that Indian households prefer washing almost everything at home, from bed sheets to tablemats and cushion covers.

The shift towards bigger washing machines also marks the growing awareness for sustainability and energy efficiency among Indian consumers, Samsung India said.

Samsung India has a wide range of washing machines in its portfolio with bigger capacities to cater to the rising consumer demand.

CHENNAI, India, July 30, 2024 — LatentView Analytics, a global digital analytics consulting and solutions firm, today announced the ongoing success and momentum of its Global Innovation Hubs. This success is a testament to LatentView’s commitment to driving innovation and excellence in analytics, emphasizing a differentiated approach to developing and operating data-driven mid-sized innovation centers for large firms. The goal of the Global Innovation Hubs is to fill the gap between staff augmentation and a full-fledged Global Capability Center.

According to research from Forrester, organizations that invest in data and analytics saw a two to six-fold return in the first year. LatentView’s Global Innovation Hubs are set apart from typical global capability centers by offering companies relatively lower-cost direct support for their digital innovation initiatives, including technical and industry domain expertise needed to drive change. Beyond serving solely as a set-up consultant, LatentView fully staffs and operates its Global Innovation Hubs on behalf of its customers.

Since its inception, LatentView’s Global Innovation Hubs have provided customers with experienced analytics talent and capabilities rooted in a decades-long digital transformation practice. Latentview is addressing businesses’ most pressing challenges from a shortage of technical talent, implementation, and a desire to get a better return on analytics investment by setting up a remote shore center that helps leverage global talent pools and scale data and analytics initiatives to drive innovation.

There is a growing need for this mid-sized data-driven innovation model, with a capacity of 50-1000 employees, which is being increasingly discussed amongst business and digital leaders across industries and geographies.

“LatentView’s Global Innovation Hubs play a significant role in our growth roadmap and reinforce our commitment to serve as a strategic partner to our clients,” said Rajan Sethuraman, LatentView CEO. “For organizations ready to innovate with analytics but who struggle to find the talent to support rapid growth and transformation, LatentView’s combined technical knowledge and resource-rich support systems allow global business leaders to push initiatives forward and drive value from day one.”

While legacy global capability centers focus on infrastructure setup and navigating regional business regulations, LatentView’s model builds on that important step but operates with a more involved and ownership-driven model, directly addressing the needs of large companies looking for strategic, long-term analytics solutions. LatentView helps companies set up their analytics hub through a build-operate-transfer model, allowing the company to see meaningful innovation while streamlining costs.

“We’ve seen remarkable success stories emanate from our Global Innovation Hubs, each illustrating our capability to foster innovation that genuinely drives business transformation,” said Krishnan Venkata, Chief Client Officer at LatentView Analytics. “This success of our clients reaffirms our commitment to nurturing an ecosystem where innovation thrives.”

LatentView’s Global Innovation Hubs have positioned the company as a leader in industry-specific analytics transformation. One turnkey asset management company saw $37 million in cost savings and a 25 percent increase in revenue. By emphasizing collaboration between analytics and business teams, the hubs are breaking new ground in developing innovative solutions that directly align with organizational objectives.

Gurugram, July 30, 2024: Samsung India today announced the national shortlist for the top 20 teams for its flagship CSR program ‘Solve for Tomorrow’ 2024. The teams, which are set to advance to the subsequent national round, represent great geographical diversity comprising individuals from 12 states and 2 Union Territories across India. Few of the participants hail from some of the remotest locations, such as Imphal in Manipur, East Khasi Hills in Meghalaya, and Bilaspur in Chhattisgarh.

In the 3rd edition of the program, students submitted their ideas under two overarching themes — ‘Community and Inclusion’ and ‘Environment and Sustainability.’ About 20% of the ideas in the school track focus on issues relating to education and access to resources for underprivileged communities, challenges around experiential learning, and digital literacy. About 25% of the ideas in the youth track revolve around the issues of water conservation, arsenic pollution, water wastage, and ecological imbalance around river basins. In addition, nearly 40% of the ideas focus on curbing air pollution caused by traffic, lack of waste management methods, increase of single-use plastics, and wildfires.

“Samsung’s flagship CSR program, ‘Solve for Tomorrow,’ has focused this year on empowering both school and college students to address real-world challenges using technology. This year we focused on encouraging participation from the remotest corners of the country, and we are excited about the representation coming from a diverse geography. We wish the best to the teams moving ahead for the innovation walks at our offices and R&D centers and finally for the national pitch event at IIT Delhi,” said SP Chun, Corporate Vice President, Samsung Southwest Asia.

“We are keen to see how their ideas shape up and contribute to addressing macro-level societal issues,” he added.

“We are proud to continue our partnership with Samsung Solve for Tomorrow. This year’s program structure focused on getting regional talent, which is reflected in the shortlisted teams’ ideas. Some of the ideas are truly inspiring and promising. We are excited to witness the journey of the local talent that will boost the start-up ecosystem in the country,” said Prof. Preeti Ranjan Panda, MD, FITT, IIT-Delhi.

These national 20 teams get a unique opportunity to attend an innovation walk at Samsung India offices, its R&D centers, and its design center. Once they complete their innovation walk, these 20 teams participate in a national pitch event where they will compete within their respective tracks and pitch to the national jury comprising of Samsung experts & leaders.

What do the semi-finalists get:

School Track: Semi-finalists 10 teams will get INR 20000 grant for prototype development & Samsung Galaxy Tabs. Finalists 5 teams will get INR 1 Lakh Grant each for prototype enhancement & Samsung Galaxy Watches

Youth Track: Semi-finalists 10 teams will get INR 20000 grant for prototype development & Samsung Galaxy Laptops. Finalists 5 teams will get INR 1 Lakh grant each for prototype enhancement & Samsung Z Flip Smartphones

What do the winners get:

School Track: The Winning Team will be declared the “Community Champion” of Solve for Tomorrow 2024 and will receive a seed grant of INR 25 Lakh for prototype advancement. The Schools of the winning teams will also receive Samsung Products to boost educational offerings, encouraging a problem-solving mindset.

Youth Track: The Winning Team will be declared the “Environment Champion” of Solve for Tomorrow 2024 and will receive a grant of INR 50 Lakh for incubation at IIT-Delhi. The colleges of the winning teams also receive Samsung products to boost their educational offerings, encouraging social entrepreneurship.

First launched in the US in 2010, Solve for Tomorrow is currently operational in 63 countries globally and has seen over 2.3 million young people participate worldwide.