New Delhi,27th May 2023: PG Electroplast Ltd. (PGEL), one of the pioneers and leaders in the Electronic Manufacturing Services and Plastic Molding announced its results for the quarter ended March 31st, 2023, as approved by its Board of Directors.

Key Financial Highlights:

Quarter ended March 31st, FY2023

•  Net Sales for the quarter was INR 8.269 billion – a growth of 65.4% YoY.
•  Operating profit for the quarter was INR 744.2 million a growth of 105.0%
•  Quarterly EBITDA stood at INR 769.0 million versus Rs 529.3 million in 4QFY2022 – a growth of 45.3%.
•  Quarterly Net profit stood at INR 401.7 million versus INR 276.3 million in 4QFY2022. 12-Month Year ended March 31st, FY2023
•  Net Sales were INR 21.478 billion – growth of 95.7% YoY.
•  Operating profit for the year was INR 1.639 billion – growth of 115.6%
•  EBITDA for FY2023 stood at INR 1.804 billion vs INR 942.8 million– growth of 91.4%.
•  Net profit for FY2023 stood at INR 774.7 million versus INR 374.2 million – a growth of 107.0%.

Commenting on the results, Mr. Anurag Gupta, Chairman, said “PG’s growth strategy is now bearing fruit and with over Rs 1300 crores in Product business, company has firmly established itself as a credible contract manufacturer & ODM player in Room AC and Washing Machine industry. Growth outlook across current focus segments remains robust and with new initiatives, Company’s addressable market in Consumer Electronics and Consumer Durables will see multifold increase.

Focus on capital efficiency, driven by improving Asset turns through product business growth has been the hallmark of our strategy and we aim to deliver Industry leading growth with best in class return ratios in coming years. We believe that our new initiatives and planned capacities will open new growth horizon for Company in near future.”

Other Highlights:

FY2023 was another landmark year with several milestones of achievement:

o Consolidated Sales crossed INR 21 billion with Product business sales crossing INR 13 billion. PGEL’s 100% subsidiary, PG Technoplast, crossed INR 10 billion in revenue in its second year of operations.

o Developed, validated, and launched successfully new products in washing machines, Room AC and Coolers. During the year company doubled its capacity across Room AC and Washing machine segment and increased its Product business by over 180%.

o Capital efficiency of business improved, and company’s RoCE was 18.7% and RoE was 21.9% for the financial year ending March 2023. Net fixed Asset turns for the consolidated entity crossed 4x.

o In AC business during the season, company achieved over 85% capacity Utilisation on the expanded capacity during the 4th quarter.

o PG group serviced 14 leading brands in the AC for its ODM models and over 20 leading brands for washing machines in ODM model.

o The Product business contributed 70% of the total revenues in 4QFY23 and 62.4% for FY2023. The Product business has grown 121% YoY for the quarter and for FY2023 growth is 180%.

o The Washing machines business had a growth of 56.6% YoY for FY2023, while the AC product Business grew 180.5% for FY2023. Order book for product business remains robust and the company is on track to scale the product business again significantly in FY2024.

o TV & Electronics business contributing 7.5% of the total revenues and grew 131% in FY2023.

o Significant enquiries and commitment for new business are being witnessed across business segments and addition of new clients has been robust across verticals.

o Company plans to further invest in significant capacity enhancement in FY2024 in the product business for future sales growth and further backward integration.

Future Outlook:

Management sees increased opportunities in the existing and new clients and based on the current business environment. With new capacities and capabilities, company is uniquely positioned in the consumer durables & plastics space in India. In coming years, company aspires:

• To have Industry leading growth in Revenues.
•  Gradual improvement in margins due to operational efficiencies and operating leverage.
•  Best in class capital efficiency resulting from improved cash flows & balance sheet optimization.
• Specific guidance for FY2024:
•  Sales guidance of INR 28 billion which will be a growth of 30% over FY2023 consolidated sales and operating profit guidance of INR 2.10 billion which will be a growth of 28% over FY2023 operating profit of INR 1.64 billion.
•  The growth in product business i.e., Washing Machines, Room Air Conditioners and Air Coolers is expected to be ~43% to INR 19.20 billion from INR 13.41 billion in FY2023.
•  Capex for FY2023 will also be in the range of INR 1.70-1.80 billion and Company will invest in new models of washing machines. Also further expand Room AC capacity along with a new location for Integrated AC manufacturing plant in North India.

India, 27th May 2023 – Dynatrace (NYSE: DT), the leader in unified observability and security, today announced new integration capabilities for Event-Driven Ansible from Red Hat. As a result, customers using Red Hat Ansible Automation Platform can integrate AI-powered insights and action from Dynatrace with Event-Driven Ansible to automate a broader range of DevSecOps use cases, including closed-loop problem and security remediation, application healing, and incident response. This helps platform engineering, DevOps, and security teams mature their automation practices and deliver flawless and secure digital experiences for their customers.

“We developed Event-Driven Ansible with the entire automation ecosystem in mind. Our goal is to make it easier to integrate valuable management systems with their established Ansible investments,” said Richard Henshall, Head of Product Management, Ansible, Red Hat. “Making solution integrations like the Dynatrace platform available for Event-Driven Ansible enables our customers to more quickly and efficiently use automation to simplify their Day 2 operations goals for improved efficiency and faster innovation.”

“Dynatrace turns data into answers and action with industry-leading solutions,” said Stefan Greifeneder, VP of Product Management at Dynatrace. “Using Dynatrace with Event-Driven Ansible exemplifies this commitment. By extending Dynatrace’s precise, AI-powered answers to Ansible Automation Platform, our customers can drive greater operational efficiencies while boosting their digital services’ performance, reliability, and security.”

The Dynatrace integration capabilities will be available to customers via the Red Hat Ansible Certified Content Collection within 90 days of this announcement. To learn more about how many of the world’s leading organizations, including Porsche Informatik and Abercrombie & Fitch, use Dynatrace and Red Hat to speed innovation and deliver better business outcomes, visit the Dynatrace website.

Bengaluru,27th May 2023: 100 years in a brand’s journey marks a significant milestone in the annals of a company. Among a handful of brands that can boast of this significant achievement in the country, is the legendary and iconic men’s fashion brand from Bengaluru, P N RAO, founded in 1923. Over the last 100 years, P N RAO with its tagline FINE SUITS SINCE 1923 has earned the reputation of suiting up the cities’ elites staying true to its founding philosophy and values.

To commemorate its centennial year celebrations on May 25th 2023, coinciding with the 120th birth anniversary of its founder late Shri Pishe Narayan Rao, P N RAO has brought global industry leaders in fabrics to share their perspectives on how the ever-changing and ever-evolving space of fashion is dictating the fabrics segment, more specifically the luxury fabrics space, globally and in India. Sharing stage with Mr. Ketan Pishe and Mr. Naveen Pishe, Partners, P N RAO were Mr. Neil Hart, Global Sales Director, Scabal; Mr. Bob McAuley, President, HMS International (parent company of Huddersfield Fine Worsteads), Mr. Chandramouli, Director, Huddersfield Fine Worsteds India and Roger La Viale; Mr. Simone, Global Sales Manager, Reda; Vitale Barberis Canonico and Ms. Vandana, MD, Dormeuil India.

Commenting on the shift in luxury fabrics in India and globally,

Mr. Neil Hart, Global Sales Director, Scabal said, “India is demanding more finer and luxurious cloths and we are also working hard to meet those demands from the global and Indian consumer perspective, who is becoming more demanding and more curious to know about the whole process – from the raw materials stage to the finished products stage. The demand is certainly there, but for higher quality materials”.

Mr. Bob McAuley, President, HMS International, said ”India with a population of 1.4 billion is an aspirational market for all the fabric manufacturers but the needs and requirements are very different. The luxury segment is growing at a very rapid pace and hence the brands like us are ready to customize our product in accordance to the country’s requirements”

Mr. Richard Boide, MD, Dormeuil who joined via video conference, added “An important development that I foresee unfolding in India in future, is that, as more and more people become conscious about the environment, brands that are heavily invested in sustainable and ethical manufacturing processes will benefit, because consumers will increasingly align with brands that have strong sustainability commitments”.

“Dubbed as the equivalent of London’s Saville Row of India for the finest suits, P N RAO has given a new meaning to bespoke tailoring with innovations that never existed or thought of before” added the global executives.

Commenting on the shifts taking place in luxury fabrics in India, they said “as global manufacturers and merchants of the finest fabrics for suits, we have observed a marked shift in demand of fabrics, especially the luxury fabrics, a segment largely dictated by wedding seasons, festive and special occasions in India. A collection of garments in the wardrobe styled in the trending fabric is the name of the game. But it doesn’t end here. As environmental consciousness gains momentum in all walks of life, the fabrics that they choose are also viewed with the same eyes resulting in a marked shift in demand for eco-responsible products. P N RAO has been at the forefront of playing an ‘advisory role’, a core value, to help consumers navigate through these tides of change and relaying back these gravitations to help us innovate and improve our buffet of offerings from time to time”.

Speaking to media persons on the occasion, Ketan Pishe, Partner, P N RAO, said “Year 2023 is a significant year for P N RAO for it marks the centennial year of the brand and more so today as it coincides with the 120th birth anniversary of our great founder late Shri Pishe Narayan Rao. P N RAO and all our global friends and partners have walked hand-in-hand these years to bring to customers the best suits in the finest fabrics which has made us a household name in suits and a force to reckon with. As we prepare for the next 100 years with renewed spirit and vigour and strengthen our partnership with the global fabrics manufacturers, we aim to further consolidate our leadership position in the segment”

“ To offer the finest suits at the most competitive prices to our customers, P N RAO has built one of the largest bespoke tailoring units on the outskirts of Bengaluru which is completely solar powered demonstrating our commitment to the environment and clean, safe and hygienic manufacturing of our apparels”, added Naveen Pishe, Partner, P N RAO.

On this special occasion, representatives from the World Federation of Masters Tailors presented a memento to P N RAO for their outstanding contribution towards bespoke tailoring furthering it and propagating it among suit aspirants. The memento was received by Ketan Pishe and Naveen Pishe, Partners, P N RAO. The memento was presented by Dr. Prakash Parmar, Director, World Federation of Master Tailors.

Later in the evening, P N RAO will give a glimpse of its new Women’s Wear line-up of garments that it will be launching soon along with its specially crafted Centennial Collection of apparels to commemorate its 100 glorious years at a glittering fashion show while also honoring 100 eminent personalities from Bengaluru from various walks of life who have brought name and fame to the city and have been part of the growth story of Bengaluru, akin to P N RAO.

Actress Zita Vass and Miss Europe 2020 & Model Gaby Guha attended one of the most prestigious global events, the Cannes Film Festival and walked on the carpet. For her walk at the 76th Cannes Film Festival, Zita Vass selected a sensational and cutting-edge couture gown by Reynu Taandon that complemented the actress’s aesthetic and demeanor. The designer dress had a halter neck cut that accentuated the attractiveness of the silhouette and was made up of beads, Swarovski, and sequins. The silhouette was coupled with fashionable organza and included a waist cutout. The stunning and regal ingenuity enhanced the grandeur of the complete ensemble. Gaby Guha, a French model, opted to wear Nikhita Tandon’s designs. Inspired by The Archangel Mehra trim energy, whose aura was included in a 10-metre-long hand-embellished sequin net trail, served as the inspiration for the Miss Europe 2020 sequin embroidered orange ray light gown. The prima donna was hugged by the accentuated waistline and plunging neckline, creating a ground-breaking and jaw-dropping appearance.

Zita Vass was astounded by the couture dress’ top-notch design. She claimed that Reynu Taandon’s creation “matched my ideals. She and her team deserve my deepest congratulations for coming up with such a stunning look. “Nikhita and her team curated an inspiration gown that made me look like a celestial angel,” said Gaby Guha in a statement. Thanks to the designer for coming up with such a fantastic and distinctive style that suited what I was looking for.

The journey of a lifetime begins with the right start and Royal Canin is committed to making this journey enriching & valuable for all pet owners. Building on the principle of “Mutuality”, one of the fundamental guiding principles of the way we do business, Royal Canin has for the first time partnered with key stakeholders, i.e. Veterinarians & Breeders to provide them a platform where they can share their precious pearls of wisdom on the Start of Life phase every pet owner goes through. At the same time this common platform will enable pet parents to also reach out to these experts with their queries, concerns and help on this critical life stage, ie the Start of Life. The campaign has created a Kitten & Puppy Growth Programme as a seamless, precise, and holistic experience to help reverse a trend where pet owners fail to provide their puppy or kitten with suitable diets or move to adult food too soon.

The first months of a puppy or kitten lay the foundation of their future health and well-being whose benefits will last a lifetime. Their body requires adapted levels of nutrients – especially energy, proteins, and minerals – to develop them into a healthy adult. Common mistakes include switching to adult food during that period. It directly impacts the growth pattern which may lead, for example, to osteoarticular problems. So, feeding puppies and kittens with diets that reflect their needs in their composition is crucial. Growth diets are complete and balanced, no supplements are necessary.

This is an educative campaign in collaboration with experts in the field of pet care, pushes the boundaries of nutrition and knowledge under the direction of science and pediatric veterinary medicine, with a series of video narratives that are candid, informative, and very practical. The first series will help new pet parents right from choosing the right pet for their homes till they bring them home and the first few months of settling in. This phase moves on to subsequent stages of the pet growing into an adult and will handhold all new pet parents on this unique journey.

This campaign has been a genuine attempt at making a difference in the lives of pets and their parents with an extensive and unique range dedicated to cats and dogs from birth to adulthood – incorporating gestation and lactation – which is available at veterinarians and pet specialty stores.

The campaign is divided into four distinct stages, each made up of nutritional products specifically formulated to fulfil a pet’s unique physiological and behavioral needs from infancy to adolescence in accordance with his breed, age, size, weight, and newly developed common sensitivity. Recipes are created specifically to maintain a robust immune system, aid in the healthy growth of the brain, organs, and skeletal system, support a balanced microbiome, and provide the proper amount of energy. Additionally, a distinctive formula delivered in a specially created kibble that is tailored to the size and shape of each breed’s jaw contributes to the food’s digestibility and palatability.

Speaking about the campaign Mr. Satinder Singh, General Manager (Managing Director) at Royal Canin, India “Growth of kitten & puppies is an intense building phase. Their body requires adapted levels of nutrients – especially energy, proteins, and minerals – to develop themselves into healthy adults. As a leading health through nutrition company, Royal Canin is dedicated to showcasing the cooperation between pet owners and pet specialists. We believe that every pet deserves the best Start in life, and that begins with proper nutrition. Such a sound and enduring relationship demonstrate a belief that every pet deserves the best possible start in life in terms of nutrition, guidance, and care.”

The Start of Life campaign will feature a range of educational materials, including blog posts, social media content, and webinars. Pet owners will have the chance to gain more knowledge about the value of adequate nutrition during their pet’s formative years and learn about the advantages of giving them a diet that is suited to their individual requirements.

We would like to thank Dr. Mohammad Ali – Assistant Professor, Department of Clinics, Madras Veterinary College, Dr. B. Nagarajan – President Association for Veterinary Dermatology India, Dr. Srikanth – Prakruthi Veterinary Clinic and Diagnostic Centre and breeder, Chandrashekhar T K – Breeder of the year 2013 – 2014, Sudhakar Babu Katikineni – World Cat Federation Judge for 5 years, C. Santosh – Bengaluru Canine Club Secretary and Ganesh Anand for their words of wisdom and helping us educating pet parents on responsible pet parenting.

Panaji, 26th May 2023 – In an age where popular food aggregating apps have been accused of running a duopoly and dictating terms to the restaurant sector, the advent of Open Network for Digital Commerce (ONDC) is expected to revolutionize the food industry, according to the Prahlad Sukhtankar, Goa Chapter Head of the National Restaurants Association of India (NRAI).

The Goa Chapter of NRAI recently facilitated an informative session in Panaji on the likely impact of the ONDC on the restaurant sector in particular and the food industry in general in the coastal state, where a senior ONDC official said that the unique central government-run network facilitates seamless integration of various digital services, such as online ordering, delivery logistics, and payment solutions, into a single ecosystem.

According to Sukhtankar, ONDC, which is currently operational in beta phase across the country, would help restaurateurs break the shackles of the food aggregator apps-driven duopoly.

“Currently, food delivery is controlled majorly by a couple of food aggregators which provide the logistics as well as discovery of the brand. It will change with ONDC, because each such component on the network either can be availed of together or separately. Hence prices will also vary and customers would then have the discretion to choose who to do business with,” Sukhtankar said, adding that ONDC’s entry would hopefully rationalise prices, give more control to the user and revolutionise the way people generally do retail business.

“And this is not just for food, it could also apply to shopping for clothes, groceries, etc,” Sukhtankar said.

ONDC enables restaurants to directly connect with consumers, eliminating the need for intermediaries. The network is also expected to democratize the whole interactive experience for both consumers as well as restaurants. This innovative network has emerged as a viable alternative for the restaurant industry, offering new opportunities for growth and profitability, according to Marichi Mathur, F&B Domain Leader at ONDC.

“ONDC has emerged as a game-changer for the restaurant industry by revolutionizing the way businesses connect, transact and engage with customers. By leveraging this network, restaurants can streamline their operations, enhance efficiency and improve customer experiences,” Mathur said.

Sharing his experience or benefits of using ONDC, Murali Krishnan, CEO & CMO of Wow! Momo, a pan-India restaurant chain, said that the new network promises to usher in a new era of profitability for restaurant owners compared to their current reliance on food aggregators.

“By leveraging the power of ONDC, restaurateurs will gain consumer ownership and the ability to hyper-personalise customer experience. Unlike limitations imposed by food aggregators, ONDC will provide restaurants with valuable data, such as details of the customers’ past orders, identifying repeat customers and other relevant information which will help the restaurant improve the customer experience. ONDC will also aid in increased visibility and profitability for the restaurants and result in possible reduction of commissions (which restaurants have to pay) from around 25 percent currently to five to eight percent,” Krishnan said.

New Delhi, 26th May 2023:India’s apex solar organization, National Solar Energy Federation of India (NSEFI) has finalized the location for the upcoming solar-powered EV-charging carport project in Hauz Khas, Delhi. As per the guidelines of this pilot project, Servotech will cover all phases of the upcoming carport from design to fabrication to implementation.

This project will comprise two DC chargers with a capacity of 15 kW and 30 kW each, 12 solar panels for 540wp, a 7 kW AC charger, a 3.3 kW AC charger, and a 10 kW on-grid inverter.

National Solar Energy Federation of India (NSEFI), and Servotech Power Systems Limited had signed a pact to establish a Solar-powered EV Charger-enabled carport as a pilot project.

As per this pilot project, NSEFI had given an opportunity to Servotech Power Systems Limited for demonstrating its capabilities in the solar power and EV charging domains by establishing a carport. This is an innovative project and will definitely show new doors of hope & sustainability to the people.

Hyderabad,India.26th May 2023 PremierEnergiesLimited,India’s2ndlargestintegratedSolarcellandModule manufacturer has been recognised as top performer’ among global PV manufacturers inPVEL’s2023PVmodulereliabilityscorecard.PremierEnergies,backedbyglobalenvironmentfundGEFCapital(basedinWashingtonDC),hasofficesinIndiaandTorontoandoffersreliable,highperformance Solar Cells and Modules across the globe.Tstate-of-the-art, fullyautomatedlineinHyderabad(India)hasannualcapacityof2GWofcellsand3GWofmodules.

Based on PVEL’s rigorous Product Qualification Program (PQP) that includes a battery of tests likethermal cycling, damp heat, mechanical stress sequence, potential-induced degradation (PID), light- induced degradation (LID), light and elevated temperature-induced degradation (LETID) and PANperformance, 88 modules of Premier Energies spanning 400W, 450W, 500W 540W series, have qualified as Top Performer. Premier Energies modules have in fact delivered high reliability scores of less than 1% degradation in critical tests like LID+LETID and less than 2% degradation in PID. These reliability scores, in simulated real world rigorous conditions are highly relevant to solar developers who are looking for modules that perform reliably under varying and testing conditions.

Chiranjeev Saluja, Managing Director of Premier Energies said “As an integrated Solar Cell andModule manufacturer, we have better controls on quality and cost and we are uniquely placed toofferlongtermreliableandcosteffectivemodules.Wehavebeenapioneerinthesolartechnologyand manufacturing space f 28 years. PVEL ‘Top Performer’ achievement is a further testament ofourengineeringcapabilityandmodulereliabilitythatwe havebuiltoverthelast3decades.”

“We congratulate Premier Energies for achieving Top Performer status in the 2023 PV ModuleReliability Scorecard,” commented Tristan Erion-Lorico, VP of Sales and Marketing at PVEL. “This is particularly noteworthy given that they have achieved this distinction in the first year of participating in PVEL’s Product Qualification Program which provides vital knowledge on PV module long termreliability and performance.”

HCLTech, a leading global technology company, is recognized with the 2023 Intel Partner Award for Market Acceleration SI/CSP.The award honors Intel partners demonstrating excellence in technology innovation, go-to-market strategy and growth. This is a recognition of HCLTech’s long-standing and successful partnership with Intel to accelerate digital transformation for clients.

“This award celebrates our 30-year partnership and reinforces HCLTech’s capabilities to leverage Intel’s cutting-edge technologies with our world-class digital, hybrid digital workplace, engineering and cloud services to develop innovative, practical solutions for our clients,” said Anand Swamy, EVP and Head, Tech OEM and Telco Ecosystems and Strategy, HCLTech.

“We are thrilled to recognize Intel’s partner award winners across the APJ region,” said John Kalvin, Vice President and General Manager of Intel’s Global Partners & Support organization. “Our partners have achieved the highest standards in growth, innovation and market acceleration. Congratulations to HCLTechfor your remarkable achievements. We value your Extreme Partnership and look forward to continued success as we unleash the future together.”

“We are proud to honor the exceptional partnership between Intel and HCLTech in driving innovation and excellence in technology. What makes this year’s awards for our APJ partners extra special is our shared commitment in overcoming adversity, exemplifying resilience and determination amidst the prevailing macroeconomic headwinds. APJ continues to be a leading growth region and we value the collaboration with our partners in offering the best solutions and experiences to our customers. Thank You,” said Steve Long, Corporate Vice President and General Manager for Intel Asia Pacific and Japan.

The 2023 Intel Partner Award recognizes Intel partner organizations that are a part of the Intel Partner Alliance and have demonstrated commitment to leverage the technology advancements of Intel and its ecosystem, thereby impacting the enterprise IT landscape and securing its roadmap.

HCLTech and Intel have worked together to embed Intel optimizations into CloudSMART, HCLTech’s unique strategy that provides organizations with a complete, high-value cloud consulting and delivery platform that enables continuous modernization, increased agility and improved operational efficiency.This award also recognizes the acceleration of HCLTech’s Digital Workplace solutions and Intel’s technology portfolio as we continue to co-create solutions that enable seamless, connected and secure hybrid workplaces.

Mumbai,26th May 2023: The Crossword Bookstore at Growel’s 101 Mall has been relaunched within the mall to a brand new refreshing store. The delightful new store is a must-visit for book lovers to explore a vast range of book genres, eclectic office and back-to-school stationery items, among other categories.

This refurbished Crossword Book store is located on the second floor of Growel’s 101 Mall, Suburban Mumbai’s favorite family destination, and spreads over 1200 sq. ft. of retail space. Various categories of merchandise available at Crossword Bookstore include books ranging from fiction, non-fiction, business & management, kids’ books to books for young adults; Toys & Games; Stationery & Gifts – art supplies, general stationery, writing equipment, office stationery, school stationery, premium pens, besides others.

The expansion and new look of the Crossword Bookstore in Growel’s 101 with a profound focus on customer experience, more to explore & choose for booklovers, enhanced happiness quotient for kids and shoppers with increased options for kids learning & kids activities. The bookstore will also be engaging book reading sessions and interactive workshops for kids. These innovative workshops aim to inspire and educate children through a variety of hands-on activities, sparking their imagination and curiosity. The store has also come up with a lot of back-to-school options and an enticing range of travel guides, novels and activity books for families seeking adventures during vacations.

Speaking about the renewed Crossword Bookstore, Gerald Mathew, General Manager, Growel’s 101 Mall, said, “At Growel’s 101 Mall we are constantly working to enhance customer experience and the new Crossword Bookstore is a welcoming space for book lovers to explore and discover merchandise beyond books.”

Growel’s 101 Mall is a wholesome experience for a family’s day out. From shopping at your favourite brands; to a tete-a-tete over coffee or meals with loved ones or to catching a movie at PVR or even enjoying the day with kids in the entertainment zones, Growel’s 101 mall has it all covered. The mall also provides exciting selfie points to take exciting instagramable pictures, which includes a larger-than-life ‘I Love Kandivali’ installation.