Archives May 2025

In workshops across India, where every edge matters and every detail counts, the real story of furniture is being shaped. It’s not told in glitzy showrooms or sleek brochures, but in the quiet commitment of carpenters and contractors who build homes, piece by piece. It’s for them and around the whole industry that REHAU India has carved RAUCARP — a simple, affordable solution that gets the job done and gets it done well.

Re-engineered for the everyday grind, RAUCARP is available in 114 versatile shades and 9 practical sizes, suited for everything from wardrobe shutters to kitchen cabinets. It’s easy to apply, long-lasting, and crafted to match the look and strength that today’s projects demand. But more than its features, it’s the intention behind it that stands out i.e. to support the real creators of furniture, with a product that’s honest, efficient, and dependable.

The tagline says it all: Har Takkar Ka Saathi. A companion for every edge. Not just the physical edges of wood and board, but the edges where cost meets quality, where speed meets precision, and where style meets substance. That’s where RAUCARP steps in.

Tushar Verma, Executive Vice President, REHAU India, puts it simply, “We’ve always believed that quality should be within reach, not reserved for the few. RAUCARP is our way of showing that — a product that’s built for the realities of the field, where time, cost and finish all matter. This isn’t about making things fancy. It’s about making things work beautifully, every day. It isn’t a new idea. It is a refined & timeless promise. One that understands the pulse of the community. It doesn’t demand heavy investment or complicated tools. It slips into the everyday workflow seamlessly, offering a level of finesse that holds up over time, even under constant use.”

In an industry that often celebrates what’s premium, RAUCARP stands for what’s practical, without losing sight of good design. It’s an edgebanding solution not only for furniture but for the people who make it. Because at the end of the day, it’s not about flashy innovations. It’s about quietly backing those who bring every corner to life.

Hyderabad, May 30, 2025: His Excellency Dr. Nawab Mir Nasir Ali Khan, Honorary Consul of the Republic of Kazakhstan in Hyderabad for Telangana and Andhra Pradesh, India, attended the Astana International Forum 2025 in Astana, Kazakhstan, as an invited delegate of H.E. Serik Zhumangarin, Hon’ble Deputy Prime Minister of the Republic of Kazakhstan.

Inaugurated by H.E. Kassym-Jomart Tokayev, President of Kazakhstan, the Forum convened over 5,000 participants from 50 countries, including more than 80 Heads of State, Ministers, and CEOs, under the theme “Connecting Minds, Shaping the Future.” The platform fostered global dialogue on security, economic transformation, sustainable development, and climate action.

During his visit, Dr. Khan met with his close associate Mr. Yousuf Aljawder, Chairman of Astana International Airport, to discuss the proposed expansion of Nursultan Nazarbayev International Airport and the launch of direct flights between Hyderabad and Kazakhstan. Both sides acknowledged the strategic importance of strengthening air connectivity to support trade, tourism, and investment.

It was also noted that Astana International Airport has entered into a 25-year operational agreement with Terminal Holding UAE, which is investing USD 1.1 billion to develop and modernize the airport. Additionally, GMR Airport, operator of Rajiv Gandhi International Airport, Hyderabad, has expressed strong interest in initiating direct flight operations to Kazakhstan.

Dr. Khan praised Kazakhstan’s leadership for hosting a visionary global platform and reaffirmed his commitment to further enhancing Indo-Kazakh relations across sectors.

Mumbai, May 30, 2025 — RIR Power Electronics Limited (BSE: 517035), India’s leading manufacturer of silicon-based power semiconductor devices, has announced its audited financial results for the financial year ended March 31, 2025.

Standalone Financial Performance for Q4 FY25:                                    (Amount in ₹ in cr)

Financial Highlights:                                       (Amount in ₹ in cr)                                                                          

Strong revenue growth

RIR Power Electronics Limited delivered a strong financial performance in FY25, with revenue from operations rising by 29.2% year-on-year to ₹86.21 crore, driven by robust demand across its power electronics portfolio. The company maintained healthy profitability, reporting an EBITDA of ₹11.02 crore and Profit After Tax (PAT) of ₹8.02 crore, reflecting a 3.7% YoY increase. EBITDA and PAT margins stood at 12.78% and 9.30%, respectively, while basic EPS was ₹10.91, demonstrating solid earnings power amidst strategic investments.

In Q4 FY25, RIR recorded its highest quarterly revenue of the year at ₹26.46 crore, with EBITDA of ₹3.33 crore and PAT of ₹2.58 crore, translating to EBITDA and PAT margins of 12.58% and 9.75%, respectively. Basic EPS for the quarter stood at ₹3.51, reflecting consistent profitability and strong execution in the final quarter.

Strategic & corporate highlights

Ø  Odisha SiC Plant Underway: The company invested ₹419.5 crore in process know-how from Sicamore Semiconductor Inc., USA for its upcoming Silicon Carbide wafer technology facility, India’s first end-to-end SiC fabrication plant.

Ø  Portfolio Restructuring: RIR divested its 100% stake in Visicon Power Electronics Pvt Ltd to Silicon Power Corporation, USA to sharpen its strategic focus

ØCorporate actions:

Announced 1:1 Bonus Issue and a stock split (from ₹10 to ₹2 face value) to enhance shareholder value.

 Final dividend of ₹2 per share recommended for FY25, subject to approval.

Ø Leadership update:

  Dr. Harshad Mehta has been appointed as Non-Executive Chairman, strengthening long-term strategic oversight

Management comment:

Dr. Harshad Mehta, Founder & Non-Executive Chairman, RIR Power Electronics Ltd, said

“FY25 has been a transformative year for RIR Power Electronics. We delivered strong revenue growth of over 29%, reflecting robust demand for our high-performance power semiconductor solutions across key sectors such as grid infrastructure, defense, renewables, and electric mobility. Our consistent profitability amid strategic investments demonstrates the resilience of our business model and the strength of our operational execution.

What excites me most is the momentum we’ve built toward India’s first Silicon Carbide (SiC) device manufacturing facility in Odisha. The acquisition of advanced process know-how from Sicamore Semiconductor, USA, marks a decisive step in our journey toward deep technology capability and import substitution. This initiative will not only elevate India’s position in the global power electronics ecosystem but also create a sustainable domestic supply chain for high-efficiency devices used in emerging technologies like green hydrogen, EVs, and railways.

As we enter FY26, our focus remains on execution excellence, technological innovation, and value creation for all stakeholders. We are confident that RIR is well-positioned to play a leading role in India’s semiconductor ambitions while continuing to deliver profitable growth.”

Mumbai, May 30, 2025: Sony SAB’s Pushpa Impossible continues to resonate with audiences through its heartfelt and relevant storytelling. The show now enters a powerful and inspiring phase as Pushpa (Karuna Pandey) finds herself at a life-altering crossroads—one that propels her towards a new dream of studying law. Amidst this turning point, the entry of Professor Rajveer ( Gaurav Chopra) adds a dramatic twist to her journey, bringing new challenges and unexpected emotional depth.

In the upcoming episodes, Pushpa’s determined attempt to help retired peon Ghanshyam (Mukul Srivastava) hits a setback when her unconventional plan backfires, leading to Dilip’s (Jayesh More) and Bapodara’s (Jayesh Bharbhaya) arrest. Though Ghanshyam eventually gets his pension, Pushpa faces unexpected accusations from Kadambari (Brinda Trivedi), who feels threatened by her growing bond with Jugal (Anshul Trivedi) and quietly plots against Chirag (Darshan Gurjar) . Amidst this emotional chaos, Professor Rajveer Shastri’s harsh statement that “law is for the powerful” leaves Pushpa shaken. Their clash intensifies during a college debate where Pushpa’s practical wisdom is dismissed, but a student’s support reveals cracks in Shastri’s stoic facade. When she joins a mock jury, Pushpa realizes the case echoes Shastri’s hidden personal pain. Moved by this emotional revelation and Ghanshyam’s struggle, Pushpa takes a bold new step—she decides to study law, marking the beginning of a transformative chapter in her journey.

Karuna Pandey, who essays the role of Pushpa, shared, “This has been one of the most powerful and emotional moments in Pushpa’s journey so far. Her decision to study law isn’t just a personal milestone—it’s a message to every woman out there who thinks it’s too late to start over. Pushpa has always led with her heart, her instinct, and her resilience, but now she’s choosing to empower herself with knowledge and legal understanding. As an actor, portraying this shift has been incredibly fulfilling. I truly believe that whether you’re 25 or 50, it’s never too late for a fresh start.”

Speaking on the occasion, Dr. A Jayachandra, Clinical Director & HOD, Sr. Consultant – Interventional Pulmonology at CARE Hospitals, Banjara Hills, said, “Tobacco is not just about cancer. It’s a major cause of chronic respiratory diseases, oral precancerous conditions, asthma complications, and even cardiovascular problems. What’s even more concerning is how aggressively tobacco and vaping products are being promoted to young people in India.”

“Smoking damages the airways and lungs, making breathing difficult. Long-term smokers often suffer from chronic bronchitis, emphysema, interstitial lung disease, and repeated infections. Smokeless tobacco, gutka, and vaping are no safer — they come with their own set of life-threatening consequences,” added Dr. Jayachandra.

“We need to break the myth that tobacco is a personal choice. It affects not just the individual but also their families and the nation. Youth are especially vulnerable, and the tobacco industry exploits this by packaging harmful products in attractive, flavored formats,” said Dr. Jayachandra.

As for quitting, doctors emphasize that tobacco addiction is medical and behavioral, and help is available. “Nicotine replacement therapies, non-nicotine medications, and counseling work best when combined. Quitting isn’t easy, but with proper support, it is absolutely possible,” he added.

Hyderabad, 30 May 2025: Recently, at a grand function organized at the Grand Ballroom, Hilton Hotel, Panjim, Goa, Gujarat-based Kosol Energie, a frontrunner in India’s renewable energy revolution, was honoured with the coveted title of ‘Brand of the Year 2025’ by BARC Asia.

Mr. Agnelo Fernandes presented the Brand Award – Commissioner- Labour & Employment, Government of Goa, and Ms.Chaity Sen, Publishing Director, Herald Global, and the coveted award was received by Ms. Chandni Sabhani: SBU Head – Manufacturing  &
Mr. Nitin Sangle: CEO – Sunray Solar on behalf of Kosol Energie.

This prestigious recognition solidifies Kosol’s position as a visionary leader in the solar energy domain, known for redefining industry benchmarks and delivering landmark projects across India and global markets, including the USA.

“We are deeply honored to receive the ‘Brand of the Year 2025’ award. This achievement is a tribute to the relentless dedication of our team, the trust of our partners, and the unwavering support of our customers,” shared Mr Kalpesh Kalthia, CMD of Kosol Energie. “It reaffirms our commitment to lead the clean energy transition with groundbreaking innovations and sustainable solutions—and motivates us to keep raising the bar for excellence in the solar industry,” added Mr Kathia.

Kosol Energy’s growing 3.1 GWp manufacturing strength, its recent launch announcement of the highest efficiency panel 620 Wp, Classification as  NTPC’s Category 1  certified panels and today being a key player amongst the largest module suppliers & EPC player for key govt. Players like NTPC, NLC, GSFC, GIPCL,  stands as a live testament to its unwavering commitment to innovation, top-tier quality, and its mission to make clean energy accessible to every household.

Sunray – A legacy brand with 40+ years of trust, serving over 1 million users in residential, commercial, and industrial solar water heating and rooftop solutions.

Koraam – A new-age brand focused on the agricultural sector, offering innovative solar farming technologies such as solar pumps, solar dryers, and solar cookers—enabling energy-efficient practices for India’s farmers.

All solutions from Sunray and Koraam are empowered by Kosol’s high-efficiency, made-in-India solar modules, representing a truly homegrown commitment to clean technology.

30 May, 2025: JSW MG Motor India, today announced that its MY2025 Astor ‘Blockbuster SUV’ is now India’s only 1.5L mid-size SUV to offer a large 10” Infotainment display and a Panoramic Sunroof under INR 12.5 Lakh (Ex-Showroom). 

JSW MG Motor India offers the 10” Infotainment display as standard across the Astor’s entire variant lineup, while the Panoramic Sunroof is offered from the ‘Shine’ trim, recently introduced with the MY2025 Edition. The MG Astor is also the only vehicle in the 1.5L Mid-SUV Automatic segment to offer wireless charging feature under INR 15 Lakh, with its “Sharp Pro” trim. In addition to this, it also offers heated ORVMs – a segment-first feature among ICE vehicles, offered on the Astor.  

These segment-first and best-in-class features reaffirm the brand’s commitment towards its customers, blending exciting performance, sophistication, technology and innovation all in one package. 

MG Motor India recently announced a bold new stance for its Astor, as the ‘Blockbuster SUV’. The MY2025 Edition introduced two new variants – Shine and Select, both packed with a host of features and technology. The Blockbuster SUV is offered with a starting price of INR 11.30 Lakhs (Ex-Showroom) and is available with VTi-TECH engine and 1.5L MT & CVT powertrains.

‘The Blockbuster SUV’ comes with over 50 Safety features, with premium interiors and panoramic sunroof elevating the memorable driving experience to a new level of comfort. With a host of advanced features paired with pleasurable driving experience, MG Astor also offers14 Advanced Driver Assistance Systems (ADAS) features.

MG Astor also comes with Ventilated Seats in the front row, Wireless Charger, Wireless Android Auto & Apple Car Play, and Auto-dimming IRVM for additional security and convenience, along with an updated i-SMART 2.0 with Advanced User Interface for a holistic driving experience and 80+ connected features for a seamless and convenient driving experience. Among its standout features is the JIO Voice Recognition system, enabling advanced voice commands for Weather, Cricket updates, Calculator, Clock, Date/Day information, Horoscope, Dictionary, News and knowledge. The Anti-Theft feature, coupled with Digital Key functionality, ensures security even without a network connection. 

Elgi Equipments (ELEQ) reported a healthy quarter, with revenue growing 14.7% YoY and EBITDA margin improving by 64bps to 15.1%. During the quarter, the domestic order inquiries remained strong though the order finalizations were delayed. ELGI’s newly launched ‘Stabilisor’ is on track for a full market rollout by Q3FY26. High margin Aftermarket sales remain a key focus amid the growing installation base aiding margin expansion. Internationally, the tariff uncertainty still looms over the USA business while weakness in Europe persists. Meanwhile, the Australian business appears to have been bottomed out and shows signs of gradual recovery. The management have guided for a ~10% YoY growth with margins of ~16% in FY26. We roll forward to Mar’27E and downgrade our rating from ‘Buy’ to ‘Accumulate’ given the recent rally in the stock. We value the company at a PE of 37x Mar’27E (37x Sep’26E earlier) with a revised TP of Rs559 (Rs517 earlier). Downgrade to ‘Accumulate’.

Long-Term View: We believe ELEQ is poised for healthy long-term growth on the back of 1) it being among top 2/10 players in the Indian/global air compressors market, 2) technology development along with strong backward integration, 3) its growing global installed base driving high-margin aftermarket sales, 4) new product launches and 5) market leadership in automotive garage equipment. The stock is currently trading at a PE of 38.6x/33.1x on FY26/27E.

Improved operating leverage drive EBITDA margin: Consolidated Revenue increased by 14.7% YoY to Rs9.9bn (Ple: Rs9.5bn) driven by 12.8% YoY growth in Air Compressors sales to Rs9.0bn and 36.6% YoY growth in Automotive equipment sales to Rs938mn. EBITDA grew by 19.7% YoY to Rs1.5bn (Ple: Rs1.4bn). EBITDA margin also expanded by 64bps YoY to 15.1% (Ple:14.5%) primarily due to lower employee cost to Rs1.7bn (-227bps YoY as % of sales). PBT increased by 26.1% YoY to Rs1.4bn (Ple: Rs1.3bn). Adj. PAT increased by 33.4% YoY to Rs1.0bn (Ple: Rs860mn) supported by lower effective tax rate (down by 310bps to 27.5%) and higher other income (+14.4% to Rs167mn).

We attended the annual investor call of Grindwell Norton (GWN) in which the management highlighted the financial performance of the company for FY25 and their strategic focus on the domestic market amid export uncertainties. Significant front-end investments in Abrasives capacity position the company to cater to a broader customer base, while the Ceramics & Plastics segment continues to benefit from healthy domestic demand across precision grinding, glass grinding, defence, and industrial applications. Management’s focus on application engineering, technical servicing, & innovation will position GWN favorably among competitors. However, persistent Chinese dumping in Abrasives and subdued export demand in the C&P segment remain key near-term headwinds. 

Chinese alternative products dumping, global tariff wars and change in mix of consumable demand will be key monitorable, however we remain positive on GWN due to its 1) focus on technologically advanced niche/high performance products in performance plastics, 2) penetration in newer high growth markets, 3) attention on tapping new verticals in Ceramics & Refractories, and 4) capacity expansion in coated abrasives, engineered ceramics and performance plastics. We revise our FY26/27E eps estimates by -4.7%/-6.4% given the continued threat from Chinese competition and subdued export outlook. The stock is trading at P/E of 47.3x/40.8x on FY26/27E earnings. We roll forward to Mar’27E and downgrade the rating from ‘Accumulate’ to ‘Hold’ with a revised TP of Rs1,739 (Rs1,716 earlier) valuing the stock at a PE of 40x Mar’27E (40x Sep’26E earlier). Downgrade to ‘Hold’.

Growth in Abrasives and fending off Chinese competition: Strategic capex in coated and non-woven lines has created ample capacity to meet domestic demand. The company is effectively countering Chinese competition—particularly in coated, non-woven, and thin wheel products—through innovation and enhanced customer engagement, while bonded abrasives remain competitive against European peers. Additionally, GWN’s growing presence in super abrasives positions it well to tap into high-growth sectors like semiconductors and electronics, supported by its strong focus on application engineering and technical services.

Strong domestic demand to drive the C&P segment growth: The segment is unlikely to reclaim the ~20%+ EBIT margins seen in FY23—driven by post-Covid export tailwinds—growth remains supported by domestic demand and capacity expansions at the Halol plant. PRS Permacel faced temporary setbacks due to design-related issues in the EV segment but is poised for recovery with new product introductions in thermal management and insulation. Additionally, GWN is positioned to benefit from emerging opportunities in defence armor ceramics, where approvals are progressing and geopolitical tailwinds strengthen the long-term outlook.

Bengaluru, May 30, 2025:  Myntra, one of India’s leading fashion, beauty and lifestyle destinations, has created over 20,000 employment opportunities through its partners for the 22nd edition of its flagship End Of Reason Sale (EORS), scheduled from 31st May. These additional roles will support logistics, customer service and last-mile operations.

This additional workforce in the warehouse includes ~22% women, fulfilling roles such as sorting, grading and packing across the fulfillment centers in Bengaluru, Mumbai, Kolkata and Delhi. Reflecting geo-diversity, the additional workforce has representation from various parts of India, including states like Arunachal Pradesh, Assam, Bihar, Chhattisgarh, Jharkhand, Mizoram, Odisha, Tripura, West Bengal, Himachal Pradesh, Punjab, Rajasthan, Uttar Pradesh, and Uttarakhand.

Of the 20,000 people, ~4500 delivery partners and ~1000 customer champions have been added in the last mile operations and contact center in the last mile operations and contact center, respectively. Backed by a robust supply chain, through Myntra’s distribution centers and the renowned Kirana network – Myntra Extended Network for Service Augmentation, Myntra’s delivery network, spread across 98% of the serviceable pincodes in the country, will serve as the backbone for the 22nd edition of EORS.

Speaking on the development, Govindraj MK, CHRO, Myntra, said, “At Myntra, we remain focused on building an inclusive and agile workforce that can meet the dynamic needs of our customers. The creation of over 20,000 employment opportunities for the 22nd edition of EORS to meet the expected surge in demand, is a testament to our ‘Customer First’ commitment. It is great to see a strong representation of women and the inclusion of people from diverse regions. As an organisation dedicated to strengthening the ecosystem, we are also happy to provide income augmentation opportunities for our delivery partners in Myntra’s biggest edition of EORS.”

The new job opportunities will play a pivotal role in ensuring smooth deliveries as well as creating a delightful shopping experience for millions of customers during the mega fashion shopping event. The 22nd edition of EORS has an unprecedented scale of offerings, with over 10,000 brands, showcasing more than 4 million styles to Myntra’s base of 70 million+ monthly users.

Over 300K brand-new styles will be debuting at Myntra’s 22nd EORS and the mega event will witness new launches across categories from brands like Lotto, adidas, Puma, GAS, Emporio Armani, Elie Saab, K-18 and Alia Bhatt X L’Oreal casting creme gloss collection. Several popular brands that are expected to witness heightened traction include Levi’s, Nike, adidas, H&M, MANGO, L’Oreal, Lakme, Libas, Decathlon, New Balance, Wrogn, US Polo Assn., Puma, and Rare Rabbit, among others. Adding to the thrill, FWD, Myntra’s Gen-Z proposition, will feature over 200K+ trend-first styles from brands including SZN, Freakins, Bonkers Corner, Glitchez, Anouk Rustic, Lulu & Sky, KPOP, Outzider among many others.

New Delhi, May 30, 2025: Energy Efficiency Services Limited (EESL), jointly with the International Institute for Energy Conservation (IIEC), co-hosted a workshop on “Advancing India’s Low-Carbon Growth through Energy Efficiency Intervention in the Industrial and Building Sector.” The event was organized in collaboration with the Bureau of Energy and CII Godrej Green Business Centre as the Knowledge Partner.

The workshop formed part of the broader initiative, “Creating and Sustaining Markets for Energy Efficiency,” supported by the United Nations Environment Programme (UNEP) under the Global Environment Facility (GEF)-6 Cycle. This strategic initiative aims to accelerate the adoption of energy-efficient technologies across India’s industrial and building sectors, substantially reducing greenhouse gas (GHG) emissions and supporting the Government of India’s ambitious target of cutting down one billion tonnes of GHG emissions by 2030.

A few critical highlights of the event were the report launch of market assessments for Heat Pumps, Waste Heat Recovery Solutions and energy efficient technologies for industrial utilities including innovative business model, “Cooling as a Service,” developed as part of the UNEP GEF-6 Project. This model emphasizes sustainable and efficient cooling solutions with no upfront investment by the client that can radically transform market dynamics and consumption patterns in India’s cooling sectors. During the workshop, several cutting-edge, energy-efficient technologies & solutions, identified under BEE supported DEEP project for large industries and UNIDO supported GEF-5 Project for MSME, were showcased, demonstrating their potential to significantly contribute to India’s decarbonization objectives.

The workshop effectively engaged diverse stakeholders, including industry leaders, building organisations, policymakers, ESCOs and academic institutions, facilitating meaningful dialogue on both the challenges and opportunities associated with adopting energy efficient technologies. It also served as an essential platform for disseminating valuable insights from EESL’s successful programs, alongside compelling case studies illustrating the successful adoption of advanced technologies.

Dr. Ashok Kumar, DDG, BEE: “The support extended under this GEF project by UNEP has been instrumental in aggregating demand and scaling up the deployment of energy-efficient technologies across sectors. This collaboration has not only catalyzed market creation but also reinforced BEE’s efforts under DEEP, enabling wider adoption. Notably, it has enhanced outreach to the MSME sector through the ADEETIE scheme, helping bridge the gap between innovation and implementation at the grassroots level”.

Mr. Prashant Kumar, CGM, EESL, emphasized, “Energy efficiency is the cornerstone of India’s sustainable development agenda. This workshop brought together industry leaders and policymakers, significantly scaling up discussions and commitments towards adopting advanced technologies, thus aligning our collective efforts with India’s national climate goals.”

Mr. Asher Lessels, Head of GEF Climate Mitigation Unit at UNEP: “UNEP remains deeply committed to supporting India’s climate goals. Initiatives such as ‘Cooling as a Service’ provide innovative models with the potential to drive substantial environmental and economic benefits. The outcomes from this workshop represent a vital step forward in promoting sustainable and transformative change in India’s industrial and building sectors.”

Reflecting on the success of the workshop, Mr. Sanjay Dube, CEO, IIEC, remarked, “Since its start, this project has been instrumental in transforming the markets for energy efficiency through EESL in India. This event is a testimony of our efforts in collaboration with UNEP and EESL to continue the momentum for energy efficiency initiatives for decarbonization in line with India’s Net Zero pledge.”

The event concluded with stakeholders affirming their commitment to continued collaboration through Expression of Interests and MoUs, underscoring their determination to pursue aggressive adoption of energy-efficient solutions as part of India’s broader climate resilience strategy.