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Mumbai | October 25, 2024: Chalet Hotels Limited announces its results for the second quarter of the fiscal year 2025 ending September 30, 2024.

Other Highlights:

• Chalet Hotels have been recognized for its work in ESG.
  • Won the KPMG ESG Excellence Award 2024 in Mid-cap/Small-cap Companies.
  • Chalet continues to be ‘India’s Best Workplaces for Women’ 2024 by Great Place To Work.
• Acquired 11-acres beachfront land in the pristine white sand beaches of Varca Goa with a development potential of ~170 upper upscale rooms.

Consolidated Performance for Q2FY25                                                                       

The Finance (No. 2) Act, 2024 withdrew the indexation benefit on long-term capital gains, as a result the company

reversed the deferred tax assets created on certain capital assets (carried at indexed cost) having one time non cash

Segmental Performance for Q2FY25                                                                                                                                                   

Development Pipeline Updates:

• Hotel inventory expansion at Bengaluru Marriott Hotel Whitefield (~125-130 rooms) in Q3 FY25
• Renovation, upgradation and expansion of The Dukes Retreat (65 rooms) completion in Q4 FY25
• ‘Taj’ at the T3 Terminal Delhi International Airport (385-390 rooms), ‘Hyatt Regency’ at Airoli, Navi Mumbai (~280 rooms) and CIGNUS POWAI^® Tower II in Mumbai are now scheduled for completion in FY27
• Renovation of Four Points by Sheraton Navi Mumbai has commenced. Currently 35 rooms are under renovation and not available for sale.

Speaking on the financial results, Mr. Sanjay Sethi, MD & CEO, Chalet Hotels Limited, “We are pleased to report another outstanding quarter of growth, driven by positive momentum in room rates and backed by strong EBITDA margins, an indication that our strategic initiatives and efforts to drive operational excellence are paying off. Our upcoming 11-acre beachfront development in Goa is set to transform the region over the next three years. As we enter the second half of the year, we are confident in maintaining this upward trajectory to maximise returns across our diverse portfolio.” 

New Delhi, October 23, 2024:  NIIT Learning Systems Limited (Ticker Symbol: NIITMTS), a global leader in managed learning services, announced the results for the second quarter ended September 30, 2024.

During the July to September 2024 quarter, the company recorded a consolidated Net Revenue of , up 4% YoY with EBITDA  and EBITDA Margin stood at 24%. Profit After Tax was and the EPS stood.

The results were taken on record at the meeting of the Board of Directors held on October 23, 2024.

NIIT MTS added two new global Managed Training Services (MTS) customers during the quarter, including one of the top FMCG brands globally and a leading energy major. NIIT MTS now partners with four of the top ten companies in the energy sector. Additionally, the company maintained its track record of 100% renewals, with four contract renewals and expanding the scope of one client, bringing revenue visibility .

Commenting on the results, Vijay K. Thadani, Vice Chairman & Managing Director, NIIT MTS stated, “In Q2 FY25, NIIT MTS has continued to showcase its resilience and adaptability, delivering year-on-year growth and robust profitability. We added two marquee MTS clients and maintained a 100% renewal record. Our strategic focus on innovative solutions, including GenAI-powered platforms, have been key drivers of strong customer addition and retention.”

Commenting on the results, Sapnesh Lalla, CEO and Executive Director, NIIT MTS, said, “Our Q2 FY25 performance reflects strong customer trust and enduring partnerships. Despite tighter industry budgets, we continued with industry-leading growth, customer addition and retention. The positive reception to our AI-driven solutions reinforces our leadership in this space. Our work continues to receive industry recognition such as 63 Brandon Hall awards. These awards are testament to the pioneering work we do for our customers.”

 Awards and Accreditations

• NIIT MTS earned 63 Brandon Hall HCM Excellence Awards jointly with customers including 31 gold awards, 16 silver awards and 16 bronze awards across a broad range of categories.
• NIIT MTS was accredited Gold Standard for the ninth consecutive year by the Learning and Performance Institute
• NIIT MTS was named to Training Industry’s Top 20 Experiential Learning Companies for the fourth consecutive year 

National, 23 October, 2024: Welspun Corp Limited part of Welspun World through its subsidiary Sintex-BAPL Limited has announced the acquisition of 100% of the equity shares and non-cumulative redeemable preference shares of ‘Weetek Plastics Private Limited’ for an enterprise value of INR 85 Crores. With this acquisition, Weetek will become a wholly owned step-down subsidiary of Welspun Corp, further expanding its footprint in India’s plastics manufacturing sector.

Weetek Plastics operates a state-of-the-art facility in Raipur, Chhattisgarh, with an annual production capacity of 19000 metric tons and Sintex will investing to enhance the capacity and capability of this plant. The facility specializes in a wide range of products, including cPVC, uPVC, SWR pipes & fittings, and water storage solutions. Welspun Corp will further enhance the facility’s capability through a fresh round of investments to tap into new regional markets with immediate effect.

This acquisition is in line with Welspun’s strategy to accelerate its market presence and scale up production ahead of its planned expansion of four additional plastic pipe manufacturing plants, to be located in Madhya Pradesh, Telangana, Odisha, and Jammu & Kashmir.

Acquisition of Weetek Plastics’ with its advanced infrastructure provides a competitive edge to Sintex, enabling faster penetration into key markets such as Jharkhand, Bihar, Odisha, and West Bengal. The acquisition offers Welspun a ready platform to expand its product offerings and boost its capacity in India’s growing plumbing and water management sectors.

Commenting on the acquisition, Mr. BK Goenka, Chairman, Welspun World, said: “The acquisition of Weetek Plastics aligns with our vision to become a leader in the building materials industry. This state-of-the-art facility will help us enhance our market presence and deliver superior products to customers across the country. It offers us a unique opportunity in accelerating our growth strategy on PVC pipes and fittings and fast-tracking our entry into new markets with an already operational facility.”

By leveraging Weetek Plastics’ advanced facilities and strategic location, the company is poised for accelerated growth. Welspun remains focused on creating long-term value for its stakeholders through innovation and strategic expansion.

Mumbai, Thursday, 19 October 2024 — DCW Limited, a leading specialty chemical company in India, has announced a significant investment to expand its CPVC (Chlorinated Polyvinyl Chloride) production capacity from 20,000 metric tonnes (MT) to 50,000 MT. This expansion involves increasing capacity by 30,000 MT through a combination of new installations, de-bottlenecking existing facilities, and process optimization.

The capacity increase will be rolled out in phases, with 20,000 MT expected to be operational in the second half of Q2 FY26 and an additional 10,000 MT by the end of FY26. This phased approach ensures rigorous quality control while effectively meeting the growing demand for CPVC, which is renowned for its superior thermal and chemical resistance properties in construction, plumbing, and industrial piping applications.

DCW Limited’s competitive edge lies in its ability to use its own S-PVC (Suspension PVC) as a raw material when market conditions are favourable. This capability guarantees a consistent quality and supply of inputs for CPVC production, further strengthening the company’s position in the market.

The total investment of Rs. 140 crore aligns with the rising demand for CPVC across various sectors. To maintain financial prudence, DCW Limited plans to fund approximately 30% of the project through internal accruals and balance through debt, but maintaining its position for a reduction in overall debt in the coming years.

Saatvik Jain, President of DCW Limited commented:

“This investment is a key pillar of our growth-with-deleveraging strategy, which allows us to expand while maintaining a strong financial position. By utilising our existing infrastructure and expertise for growth, we are positioning DCW as a major player in the specialty chemical space. With a demand-supply mismatch for CPVC in India, this expansion further aligns with the” ‘Make in India’ initiative of our Hon’ Prime Minister and supports the country’s growing infrastructure needs.” This capacity expansion positions DCW Limited to further solidify its leadership in the specialty chemicals market catering to more sophisticated and stable end-user markets, ensuring better profitability and long-term growth opportunities.”

Bengaluru, 15th October, 2024: Kinetic Green Energy and Power Solutions Limited, India’s premier electric two-wheeler (e2W) and electric three-wheeler (e3W) manufacturer, is thrilled to announce a limited edition of Safar Smart passenger vehicle available in both lead acid and lithium battery variants. Designed for customers who require dual functionality, it offers space for both passengers and cargo. It features a hard top roof with a dedicated carrier, allowing passengers to travel comfortably while securely storing their goods on top. Additionally, it includes a new music system, floor mats, and stylish wheel caps—all for just more than the standard model.

In alignment with the upcoming festive season, Kinetic Green is also offering special deals across its entire e3W range, combining affordability with enhanced features to deliver exceptional value. These electric three-wheelers, including the special edition, are paired with attractive financing options from leading partners, making ownership easy and accessible. These offers can be availed at dealerships starting from the first day of Navratri.

Kinetic Green has teamed up with two prominent financiers, Cholamandalam Finance and ReVfin Finance, to offer an appealing financing package, making it convenient for customers to own their desired e3W. For instance, the Kinetic Green Passenger Safar Smart Lead Acid e3W now requires a down payment as  the Kinetic Green Lithium Battery version comes with a down payment of  and  can choose either a one-year warranty and 18 months loan term for the lead acid e3W or a three-year warranty and three-year loan period for the lithium model, based on their individual preferences and usage patterns. These initiatives will ensure that e3W ownership becomes easier and more accessible while offering a seamless buying experience for consumers.

Commenting on these initiatives, Mr. Debashish Mitra, President of Kinetic Green’s 3 Wheeler Business said, “This is an exciting opportunity as we aim to make electric vehicles more accessible by offering attractive financing and choice of batteries for their Kinetic Green electric three-wheelers. These options will enable people to switch to sustainable mobility with ease. By making electric vehicles more accessible and feature – loaded, we hope to encourage a larger segment of the population to embrace sustainable transportation solutions and decarbonize last mile connectivity in India.”