Archives January 2025

Chandigarh, India: Suzlon Group, India’s largest renewable energy solutions provider, reported its third-quarter results for the financial year 2024-25 (Q3 FY25) ending on 31st December 2024.

Girish Tanti, Vice Chairman, Suzlon Group, said, “We are building a future-ready business by fortifying our core strategic pillars: cultivating strategic talent, leveraging next-generation technology, amplifying customer-centricity, and expanding operational capacity. Our sustained focus on these priorities drives consistent growth, performance, and long-term profitability. One emerging trend fuelling our growth is our strategic emphasis on Commercial & Industrial (C&I) and Public Sector Undertaking (PSU) customers. As these organizations prioritize sustainability and renewable energy, we’re delivering reliable, affordable solutions that power their operations. This strategic shift is driving demand, positioning Suzlon as a trusted partner for businesses pursuing green energy ambitions and catalyzing growth in the renewable energy sector.”

JP Chalasani, Chief Executive Officer, of Suzlon Group, said, “We are experiencing consistent quarter-on-quarter growth, with each of our businesses operating as strong, independent entities driving performance. Our manufacturing capacity expansion in India is progressing as planned to fulfill our record-high order book of 5.5 GW. With our ramp-up strategy on track and operational preparedness at optimal levels, we can sustain momentum, create long-term value for our stakeholders, and play a pivotal role in advancing India’s renewable energy ambitions.”

Himanshu Mody, Chief Financial Officer, of Suzlon Group, said, “Our focus in Q3 FY25 was execution, which is visible in our financial performance, marked by significant profit growth driven by volume and margin expansion and enhanced operating leverage. Strong stakeholder support has been instrumental in accelerating our ramp-up efforts. With a robust order book, market-leading products, ample working capital, and a well-established supply chain, we are strategically aligned to seize emerging opportunities and further strengthen our market leadership.”

Product Innovation

S144 continues to dominate the Indian wind market and has received a very strong customer response. It currently accounts for 92% (~5 GW) of our overall order book. We are on track with the production ramp-up of the technology, and in this quarter, we achieved a key milestone in delivering the 300th S144 wind turbine.

Human Resources

Suzlon’s innovative partnership model with the government is revolutionizing the wind energy sector by addressing a critical talent development gap. This strategic collaboration aims to upskill the workforce and nurture industry-ready talent, ultimately supporting India’s transition to a sustainable energy future. A significant milestone in this initiative is Suzlon’s Memorandum of Understanding (MoU) with the Andhra Pradesh Government, which will launch India’s largest green skill program. This program is expected to create approximately 12,000 green careers, empowering individuals with the necessary skills to bridge the employability gap. By fostering a skilled workforce, Suzlon is not only contributing to India’s sustainable energy goals but also enhancing the country’s competitiveness in the global renewable energy market.

Wind Turbine Generator (WTG) Manufacturing

We are making big strides in expanding our manufacturing capacity to meet the growing order book. We have revamped our Daman and Puducherry Nacelle manufacturing facilities and have reached 4.5 GW annual capacity. Two additional production lines are being added at our Ratlam and Jaisalmer facilities to scale operations efficiently. We continue to strengthen our order pipeline with a healthy mix of new and repeat customers, securing three large orders and reaffirming partnerships with key clients like Jindal Renewables and Torrent. These achievements reinforce market confidence in Suzlon’s capabilities and leadership in the renewable energy sector.

OMS

The OMS business remains a significant growth driver for the Suzlon Group, consistently outperforming expectations. Safety is deeply embedded in our culture, and we remain committed to investing in proactive initiatives. Currently, Suzlon is collaborating with leading consultants to enhance field safety and optimise operational efficiency, ensuring long-term sustainable growth.

Awards and Recognition

•  CRISIL Ratings has upgraded Suzlon’s credit rating to ‘CRISIL A’ from ‘CRISIL A-’ with Positive Outlook for the second time in 2024, reflecting the company’s strong performance and enhanced profitability.
•  Suzlon Group has won GEEF’s Global Sustainability Award 2024 for Sustainability Excellence in Renewable Energy (Power Sector).
•  Suzlon Global Services Ltd (SGSL) has been honoured with the ‘Great Indian Renewable Energy Company of the Year’ award at the 3rd Sustainability Conclave, recognising its excellence in sustainable energy practices.
•  SGSL has also received the ‘Gold Award-Green Practices’ under the Service Category at the 3rd CII-Northern Region Green Practices Award by the Confederation of Indian Industry (CII), further reinforcing its commitment to environmental stewardship.
•  Suzlon’s WTG Manufacturing Businesses have been honoured with six prestigious recognitions at the Frost & Sullivan IMEA Awards for outstanding performance across various units, including WTG Unit Daman, Nacelle Cover Unit (Daman), Control Panel Unit (Daman), Rotor Blade Unit (Bhuj), Tubular Tower Unit (Gandhidham), and the Corporate Gold Award in the Engineering Sector.

• Dignitaries who were present in the inaugural ceremony of the 48th International Kolkata Book Fair were Smt. Mamata Banerjee, Hon’ble Chief Minister of West Bengal; Dr. Phillip Ackermann, H.E Ambassador of Germany in India, Dr. Marla Stukenberg, Director Goethey- Institut, South Asia; Abul Bashar, Eminent Author of Bengal; Janab Firad Hakim, Mayor of West Bengal; Sujit Bose, MIC Fire and Emergency Services, Government of West Bengal and MLA of Biddhannagar; Indranil Sen, Minister of Tourism, Govt. of West Bengal; Sovandeb Chattopadhyay, Minister for Agriculture, Govt. of West Bengal; Tridib Kr. Chatterjee, President, Publishers & Booksellers Guild; Mukesh, IPS Commissioner of Police, Bidhannagar Police Commissionerate; Sudhanshu Sekhar Dey, Honorary General Secretary, Publishers & Booksellers Guild; Dola Sen, MP, Rajyasabha; Krishna Chakraborty, Mayor, Biddhannagar; Mala Roy, Member of Lok Sabha; Biman Bandopadhyay, MLA, Baruipur, Pashchim Assembly Constituency; Chandrima Bhattacharya, Minister of State for Finance (Independent Charge), Health and Family Welfare, Land and Land Reforms, Refugee and Rehabilitation, Government of West Bengal
• Shri Abul Bashar was conferred GUILD LIFETIME LITERARY AWARD worth Rs 2,00,000/- in the inaugural ceremony by our Hon’ble Chief Minister Smt Mamata Banerjee.
• CM Mamata Banerjee expressed gratitude being a part of the opening ceremony of the 48th Kolkata International Book Fair. The ceremony saw the launch of books like Salute 2, Lipiboddho- KIchu Kaj and Banglay Nirbachan o Amra
• Participation from almost 20 countries like Germany, USA, UK, France, Russia, Nepal, Spain, Peru, Argentina, Guatemala, Costa Rica and other Latin American countries etc .
• Tridib Kr. Chatterjee, President, Publishers & Booksellers Guild reminisced its glorious beginning by mentioning- On 5th March 1976 the first ever kolkata Book fair started its journey with just 52 book stalls but nestled in the love of Bengalis who are extremely fond of books, it did not take very long for the Kolkata Book Fair to grow to its present stature.

Chandigarh, January 29, 2025: Vedanta Limited, a global leader in natural resources and technology, and a committed partner in Odisha’s progress for more than two decades, today signed a memorandum of understanding (MoU) worth Rs. 1 lakh crore with the Government of Odisha, on the opening day of Utkarsh Odisha, the state’s global investment conclave organised in Bhubaneswar. The MoU was signed in the presence of Shri Mohan Charan Majhi, Hon’ble Chief Minister of Odisha and Shri Anil Agarwal, Chairman, Vedanta Limited. This transformative commitment aims to accelerate Odisha’s industrial growth by establishing world-class aluminium production facilities and promoting sustainable development across the state.

The collaboration includes the development of a 3 million tonnes per annum (MTPA) aluminium plant and an aluminium park that is poised to emerge as a major hub for downstream producers of aluminium products. Together, the announced initiatives will not only further cement Odisha’s crucial role in the global aluminium value chain, but will also generate 2 lakh employment opportunities and foster MSME growth across sectors like automotive, power, construction, and logistics.

Shri Anil Agarwal, Chairman, Vedanta Limited, remarked, “Odisha has always been integral to Vedanta’s growth story, and its resources have played an indelible role in India’s rise. This MoU represents a significant step toward driving large-scale industrialization and socio-economic development in the state, and a reiteration of our commitment to its progress. We are proud to deepen our decades-long collaboration with the Government of Odisha, ensuring sustainable growth, skill development, and a better quality of life for millions in the state.”

Vedanta’s current investments have led to the creation of the world’s largest single-location aluminium smelter at Jharsuguda, in addition to a world-class alumina refinery at Lanjigarh, which have helped make Odisha the Aluminium Hub of India. The company also operates FACOR, among the nation’s leading producers of ferrochrome, at Bhadrak, in addition to a growing mines portfolio across the state. These operations have sparked the accelerated socio-economic progress of their surrounding regions through the company’s focus on creating educational and healthcare facilities, skill development centres, and Nand Ghars (modern Anganwadi centres), ensuring inclusive development for Odisha’s communities.

As the global demand for aluminium is expected to double by 2030, this MoU strengthens Odisha’s position as an industrial and economic powerhouse, contributing significantly to India’s vision of becoming a global manufacturing leader while reaffirming Vedanta’s role as a catalyst in Odisha’s transformation and India’s industrial evolution.

Chandigarh, 29 January 2025: Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer, signed a Memorandum of Understanding (MoU), with Sarva Haryana Gramin Bank to enter into a strategic vehicle financing partnership for its customers. This MoU will enable both Ashok Leyland and Sarva Haryana Gramin Bank to offer customized financial solutions to the customers.

The MoU was signed by Mr. Viplav Shah, Head – LCV Business, Ashok Leyland and Mr. Mithilesh Kumar Jha, General Manager, Sarva Haryana Gramin Bank in the presence of Mr. Sanjeev Kumar Dhupar, Chairman, Sarva Haryana Gramin Bank. Under this partnership, Sarva Haryana Gramin Bank will be able to provide end to end financial solutions to the customers of Ashok Leyland. The partnership will focus on meeting customer needs by providing vehicle loans with convenient monthly repayment plans tailored to their preferences.

Mr. Viplav Shah, Head – LCV Business, Ashok Leyland said, “Ashok Leyland is delighted to collaborate with Sarva Haryana Gramin Bank to offer our customers highly attractive financing solutions. This strategic partnership not only strengthens our market presence but also reinforces our commitment to innovation and customer success. With cutting-edge technology and industry-leading total cost of ownership, our products are designed to drive profitability and value for our customers. We remain steadfast in our commitment to deliver exceptional experiences and building long lasting relationships.”

Mr. Sanjeev Kumar Dhupar, Chairman, Sarva Haryana Gramin Bank said, “Sarva Haryana Gramin Bank is pleased to partner with Ashok Leyland to offer seamless vehicle financing solutions. This association reflects our dedication to serving the diverse financial needs of commercial vehicle customers. We are confident that this collaboration will enable us to extend our reach and provide tailored financing options to support the growth of businesses in the commercial vehicle segment in the state.”

Ashok Leyland today offers a comprehensive range of trucks and buses to meet the full spectrum of commercial vehicle needs, from intercity light commercial vehicles to long-haul trucks and a wide variety of buses. Ashok Leyland’s vehicles ensure safe transport and driver-friendly options. As a pioneer in technological innovations within the truck and bus segment, Ashok Leyland is fully equipped with a range of buses powered by alternative fuels, dedicated to reducing pollution and promoting an eco-friendly transport system in India.

Sarva Haryana Gramin Bank (SHGB), established under the Regional Rural Bank Act, 1976, operates under the sponsorship of Punjab National Bank with its head office in Rohtak, Haryana. Serving all 22 districts of Haryana through 686 branches and 11 regional offices, SHGB promotes financial inclusion and rural development. Offering savings, loans, and insurance, the bank supports farmers, small businesses, and rural entrepreneurs. With impeccable credit quality and 0% Net NPA, SHGB thrives on innovative, customer-focused banking solutions, fostering sustainable growth and prosperity in rural Haryana.

By-Nikkhil Jadhav Director – Strategy Heart Health India Foundation

The incidence of heart attacks among younger individuals is alarmingly on the rise, with 1 in 5 heart attack patients now under the age of 40. Similar trends are evident with diabetes, affecting a significant portion of the population. These issues are not solely linked to overall lifestyle changes but also to unhealthy food habits, particularly the consumption of packaged foods.

Despite packaging regulations that mandate the declaration of contents, many people continue to consume products containing harmful levels of trans fats. Foods with more than 1% trans fat have been directly associated with heart attacks, strokes, and type 2 diabetes. The World Health Organization (WHO) recommends that trans fats should constitute less than 1% of an individual’s total energy intake.

Given this scenario, I urge the government to implement the following measures in the upcoming budget to address these pressing health concerns:

 1. Introduction of a Sin Tax on Packaged Foods Containing High Trans Fats
A sin tax should be levied on packaged foods that contain more than 1% trans fat, similar to the taxes imposed on alcohol and tobacco. The revenue collected from this tax can be allocated to:
Subsidizing medicines related to heart disease and diabetes. Despite price caps on pharmaceuticals, these medications remain costly for many citizens. Lowering the cost of treatment and medicines will make them more accessible to all segments of society.
Awareness campaigns to educate the public about the harmful effects of trans fats and promote healthy eating habits.

 2. Introduction of a Production-Linked Incentive (PLI) Scheme for Healthy Indian Snacks
To encourage the production and availability of healthier food alternatives, the government should introduce a PLI scheme for manufacturers of healthy Indian snacks. This initiative will help replace unhealthy packaged foods with nutritious, locally-sourced options, driving positive change through variety and accessibility.

Chandigarh, January 29, 2025: 360 ONE WAM, India’s premier wealth and asset manager, has entered into a definitive agreement to acquire Batlivala & Karani Securities India Private Ltd [B&K] and Batlivala & Karani Finserv Private Ltd for Rs 1,884 crores (inclusive of Rs 200 crores of cash and cash equivalent). B&K is a leading mid-cap brokerage, servicing almost all leading Foreign and Domestic Financial Institutions. The company is a full-service broker dealing with institutional investors and also offers corporate treasury services to its set of clients, serviced by a team of over 300 professionals.

B&K is a pioneer in providing independent and unbiased research with a coverage of over 450 companies making it a leader in the mid and small cap space.

The acquisition, structured as a combination of a stock swap and part-cash transaction, is subject to regulatory approvals. Once complete, this strategic acquisition will help 360 ONE bolster its Broking Platforms across all market segments (UHNI, HNI, Retail, Institutions) along with growing its Equity Capital Markets business to serve its existing client base. Additionally, B&K’s strong presence in the corporate treasury segment is another area of synergy for 360 ONE’s client base.

As part of the transaction, Saahil Murarka, Managing Director, at B&K Securities will also become a part of the 360 ONE Group and lead the Broking and Capital Markets business.

Karan Bhagat, Founder, Managing Director & CEO, of 360 ONE WAM Ltd., stated, “This partnership marks a pivotal moment for both our firms. This acquisition strengthens our position as a market leader, enabling the integration of research, advisory, and execution capabilities across a wider spectrum of services. We are excited to work with Saahil and his team to grow this business line and deliver better value to our institutional, corporate, and ultra-high-net-worth clients.”

Saahil Murarka, Managing Director, B&K Securities said, “We are incredibly proud of B&K’s history and heritage as one of India’s oldest financial services institutions. This partnership with 360 ONE WAM is a natural progression for us, combining the best our organizations have to offer. B&K’s expertise in equities, institutional, and corporate financial services with 360 ONE’s comprehensive wealth management and asset management capabilities. We look forward to working closely and continuing to deliver exceptional service to our clients.”

29th January 2025, Bengaluru : Isuzu Motors India, a subsidiary of Isuzu Motors Limited, Japan, continues to expand its footprint in India with the inauguration of four new touch points across India. This includes two new 3S (Sales, Service, and Spares) dealerships in Indore, Madhya Pradesh, and Patna, Bihar, along with two new Authorized Service Centers (ASCs) in Khammam, Telangana, and Ratnagiri, Maharashtra.

With these new additions, ISUZU’s network has grown to 72 locations across India, reaffirming its commitment to being close to our customers, customer satisfaction, and a seamless ownership experience.

Isuzu Motors India has partnered with Sagar ISUZU for Indore, and with Imperial ISUZU in Bihar. This marks extension of ISUZU brand into Bihar. To enhance service and customer relations reach, the company also inaugurated new ASCs in Khammam, Telangana, and Ratnagiri, Maharashtra. The Khammam ASC, operated by Beyond Auto Care, while the Ratnagiri ASC, operated by Shrine ISUZU. Shrine ISUZU also operates a 3S facility in Kolhapur. These facilities are built according to ISUZU dealership standards and all the staff members are trained by ISUZU experts to provide exceptional customer experiences.

Commenting on the network expansion, Mr. Rajesh Mittal, President & Managing Director, Isuzu Motors India, said, “Our continued network expansion reflects ISUZU’s brand progress and underscores our commitment to staying closer to our customers while delivering a differentiated experience. With the addition of these dealerships and service centers, we are well-positioned to meet the growing demand for ISUZU vehicles across the country. “

Mr. Toru Kishimoto, Deputy Managing Director, Isuzu Motors India, added, “At ISUZU, we prioritize customer delight throughout their ownership journey. These new facilities reinforce our commitment to providing seamless, personalized sales and service experience. We strive to elevate the ownership journey. We wish the very best for our new dealers in their endeavours to take the ISUZU journey forward.”

Chandigarh, January 29, 2025: TVS Motor Company’s operating revenue grew by 10% at Rs. 9,097 Crores for the quarter ended December 2024 as against Rs. 8,245 Crores reported in the quarter ended December 2023.

The Company’s Operating EBITDA grew by 17% at Rs. 1,081 Crores for the third quarter of 2024-25 as against EBITDA of Rs. 924 Crores in the third quarter of 2023-24. The Company’s Operating EBITDA margin for the quarter is highest at 11.9% as against the Operating EBITDA margin of 11.2% reported in the third quarter of 2023-24. The Company’s Profit Before Tax (PBT) grew by 8% at Rs. 837 Crores for the third quarter of 2024-25 as against PBT of Rs. 775 Crores in the third quarter of 2023-24. PBT for the quarter includes a fair valuation loss of Rs. 41 Crores as against a gain of Rs.65 Crores during Q3 of last year.

The overall two-wheeler and three-wheeler sales including exports grew by 10% registering 12.12 Lakh units in the quarter ended December 2024 as against 11.01 Lakh units in the quarter ended December 2023. Motorcycle sales grew by 6% registering 5.56 Lakh units in the quarter ended December 2024 as against 5.23 Lakh units in the quarter ended December 2023. Scooter sales for the quarter ended December 2024 grew by 22% at 4.93 Lakh units as against 4.04 Lakh units in the third quarter of 2023-24. Three-wheeler sales for the quarter under review are at 0.29 Lakh units as against 0.38 Lakh units during the third quarter of 2023-24.

Electric Scooter sales for the quarter ended December 2024 grew by 57% at 0.76 lakh units as against 0.48 lakh units in the quarter ended December 2023.

Cumulative nine months results

Operating revenue grew by 13% at Rs. 26,701 Crores for the nine months ended December 2024 as against Rs. 23,608 Crores for the nine months ended December 2023.

The Company’s Operating EBITDA grew by 21% at Rs. 3,121 Crores for the nine months ended December 2024 as against EBITDA of Rs. 2,588 Crores for the nine months ended December 2023. The Company’s PBT grew by 19% at Rs. 2,517 Crores for the nine months ended December 2024 as against Rs. 2,109 Crores during the nine months ended December 2023. The Company’s PAT grew by 16% at Rs. 1,858 Crores for the nine months ended December 2024 as against Rs. 1,598 Crores during nine months ended December 2023.

The Company’s two-wheeler sales including exports grew by 14% registering 34.29 Lakh units in the nine months ended December 2024 as against 30.13 Lakh units registered in the nine months ended December 2023. Motorcycle sales grew by 10% registering 16.31 Lakh units in the nine months ended December 2024 as against 14.79 Lakh units in nine months ended December 2023. Scooter sales for the nine months ended December 2024 grew by 19% registering 14.01 Lakh units as against the sales of 11.74 Lakh units in the nine months ended December 2023. The Company’s two-wheeler exports grew by 19% at 7.78 Lakh units in the nine months ended December 2024 as against 6.52 Lakh units in the nine months ended December 2023. Total three-wheeler sales is at 0.98 Lakh units for the nine months ended December 2024 as against 1.16 Lakh units during nine months ended December 2023. Electric vehicles grew by 40% registering sales of 2.03 Lakh units for the nine months ended December 2024 as against 1.44 Lakh units during the nine months ended December 2023.

India, January 2025

Chilean cherries, with their vibrant red hue, unmatched sweetness, and juiciness, are celebrated as the perfect fruit for the festive and winter seasons. Now available across Indian markets, they bring the freshest and most delectable produce straight from Chile.

Chile, the world’s leading exporter of cherries, has nearly doubled its export to India in the 2024-25 season. According to the latest data available, the export volume has surged from 367 MT in 2023-24 to 708 MT in 2024-25.

What makes this growth special is the arrival of several containers by sea. The arrival quality was perfect, showcasing the systems and processes that Chilean cherry shipper and packers have adopted to serve a distant Indian market.

Mr. Juan Angulo, Ambassador of Chile to India and Mr. Jorge Andres Loyola Castro, ProChile Trade Commissioner, visited the Delhi’s Azadpur wholesale fruit market to witness the arrival and reception of the Chilean cherries in the market.

Mr. Gustavo Gonzalez Bulo, Consul General of Chile in Mumbai and Ms. Misri Kamlesh Goradia, ProChile Representative in Mumbai visited the Mumbai’s wholesale markets to welcome the cherries and show their support to Indian importers, wholesalers, and retailers.

Juan Angulo, Ambassador of Chile to India, remarked, “The growing popularity of Chilean cherries in India underscores the strong trade relations between our two countries. It is also amazing to see the high quality of Chilean cherries in India, even after they have traveled over 40 days in sea containers.”

Speaking on the occasion, Jorge Andres Loyola Castro, ProChile Trade Commissioner, said, “Our cherries are known for their exceptional quality and freshness and it is heartening to see Indian consumers embracing the vibrant flavours and health benefits of Chilean cherries, making them a key part of their festive and winter celebrations.”

Mrs. Claudia Soler, Executive Director of the Chilean Cherry Committee of Frutas de Chile, remarked, “This season showcases the extraordinary opportunity that these premium Chilean cherries have in the Indian market. Through targeted promotional activities and engaging campaigns, we aim to showcase their versatility, not only as a delightful snacking option but also as a cherished ingredient for festive recipes.”

Hyderabad, 29 January 2025: Hansini, a high school student from Manthan School, Hyderabad has been awarded the prestigious Cambridge Outstanding Learners Award in the World Topper category for Economics at the AS Level. This recognition, presented by Cambridge International, celebrates students worldwide who demonstrate exceptional academic performance.

Hansini attributed her success to her hard work and the academic environment at her school. She said, “The opportunities and resources I had access to were instrumental in helping me excel. I am especially thankful to my teacher, Ruchika Ma’am, for her exceptional guidance and encouragement. Her passion for economics inspired me to push my boundaries and strive for excellence.”

Ruchika Upadhyay, Vice Principal of Manthan School and Hansini’s Economics teacher, expressed her pride in the achievement. She remarked, “Hansini’s dedication and intellectual curiosity have been remarkable. Her achievement reflects her consistent efforts and determination to excel. It’s a proud moment for all of us at Manthan.”

Surjeet Singh, Principal of Manthan School, also praised Hansini’s accomplishment. He stated, “This recognition reflects the high standards of academic excellence that Manthan School aspires to maintain. Hansini’s success showcases not just her talent but also the unwavering support provided by our teachers and staff. We are incredibly proud of her achievement and wish her continued success.”