All posts by Sujata Achary

Bengaluru, February 12, 2025: TVS Motor Company (TVSM) – a leading global automaker in the two and three-wheeler segment – will set up a global capability center in Karnataka, expand its production and engineering capabilities in Mysuru, build a test track and set-up new company office infrastructure in the state. Sudarshan Venu, Managing Director, TVS Motor Company, outlined the company’s plan at the inaugural event of the Global Investors Meet (GIM), Invest Karnataka 2025. TVSM today signed a Memorandum of Understanding with the Government of Karnataka to invest Rs. 2,000 crore in the state over the next 5 years.

Speaking at the event, Sudarshan Venu, said, “We envision a capability center that will draw top talent and great ideas, and have research capability to be the birthplace of next-gen bikes. The office and allied infrastructure will bring together engineers, designers, innovators, AI and ML experts, who will define what is next! Karnataka is a place where great ideas take off and we are excited to expand our footprint in the state.”

“TVS Motor has emerged as the world’s fourth largest two wheeler company, with 58 million users globally – an achievement that would not be possible without the guidance of stakeholders in the government. As we make progress towards our 2030 goals, the plan that we have outlined today will help deliver impactful solutions in personal and commercial mobility, setting new benchmarks,” Sudarshan added.

TVSM operates a state-of-the-art manufacturing facility in Mysuru that employs more than 3,500 people and has an annual production capacity of 1.5 million vehicles. Two-wheelers manufactured at the Mysuru factory fulfill domestic demand and are also exported. Export revenues alone, from the factory are more than INR 1,200 crore, out of a total of INR 7,600 crore generated. With the initiatives outlined today, the company will aim to double its export and overall revenues from its Mysuru operations.

The company operates two other factories in India – one on the outskirts of Bengaluru, spread over 300 acres in Hosur, and the other at Nalagarh in Himachal Pradesh.

Mumbai,12th February 2025 – Prashanthi Balamandira Trust (PBT), a renowned public charitable trust that has been at the forefront of offering quality education and healthcare services to underserved communities, has made history with the filing of India’s largest Draft Fund Raising Document (DFRD) on the NSE-Social Stock Exchange (SSE) platform. The project aims to raise Rs. 18 Crores for the construction of a state-of-the-art Emergency and Trauma Care Wing at its upcoming 600-bed hospital in Muddenahalli, Chikkaballapur, Karnataka.

This milestone builds on the trust’s registration with the NSE’s Social Stock Exchange in February 2024 and reflects PBT’s steadfast commitment to transparency, good governance, and advancing humanitarian initiatives. The announcement of this momentous IPO took place on Tuesday, 11th February 2025, at 11:30 AM at the National Stock Exchange, BKC, Mumbai.

Sri Madhusudan Sai, a revered humanitarian leader and trustee of Prashanthi Balamandira Trust, shared his vision for this unique venture: “We all have to come together and work—that is what I call the ‘Sarkar, Samaj and Sanstha’ model, or the 3S formula. This means policymakers must create the right policies, society must provide the resources, and charitable organizations must implement social welfare schemes. The very idea of a Social Stock Exchange embodies the synergy of these three elements—government, society, and independent organizations—coming together for a common cause.”

Sri Madhusudan Sai’s visionary leadership has not only impacted the lives of millions across 80 countries through free healthcare, nutrition, and education but also inspired a global community dedicated to serving humanity with compassion. His efforts have earned him international recognition for integrating spirituality with service to the community.

The funds raised through SSE will be dedicated to the establishment of a vital Emergency and Trauma Care Wing within PBT’s new 600-bed hospital. This hospital will be the second teaching hospital under the Sri Madhusudan Sai Institute of Medical Sciences and Research (SMSIMSR) and will offer free-of-charge medical education in disciplines like MBBS, post-graduate studies, super-specialty courses, and allied health sciences. The initiative further strengthens healthcare delivery in rural India and empowers the next generation of medical professionals committed to service in underserved regions.

Mumbai, India, February 12, 2025 – Honeywell (NASDAQ: HON) and AM Green today signed a memorandum of understanding (MoU) during India Energy Week 2025 to assess the techno-economic feasibility of producing sustainable aviation fuel (SAF) from ethanol, green methanol from various carbon dioxide (CO₂) emission sources, and green hydrogen. This collaboration underscores the alignment of Honeywell’s portfolio to three compelling megatrends which includes the energy transition.

The companies will work together to identify opportunities to enhance India’s energy security and:

•  Reduce crude oil import dependence.
•  Help position the country as a competitive global exporter of green methanol to aid shipping companies in adopting this low-emission alternative fuel.
•  Help airlines in meeting CORSIA mandates for low-carbon, drop-in fuel replacements.

“The collaboration with AM Green will help advance India’s low-carbon economy and create an ecosystem that supports the government’s SAF blending mandates, positioning India as a global leader in alternative fuel innovation,” said Ashish Modi, President, of Honeywell India. “By combining Honeywell’s proven carbon capture technologies and ethanol-to-jet solution with AM Green’s expertise in green hydrogen and ethanol production, we will pave the way for a sustainable future and reinforce our commitment to environmental stewardship.”

Mahesh Kolli, Co-Founder and Group President of AM Green said, “We are delighted to partner with Honeywell, which is one of the world’s largest technology companies that is positively shaping the future of energy. This partnership demonstrates AM Green’s emerging leadership position as a global clean energy transition solutions platform while contributing to India’s ambition of emerging as an exporter of reliable, sustainable, and lowest-cost green molecules and its derivatives accelerating industrial decarbonization globally.”

The collaboration benefits Indian farmers by creating demand for ethanol feedstocks. It also aligns with the government’s National Green Hydrogen Mission to boost green hydrogen production through green methanol for domestic and export use.

The feasibility study is expected to conclude by mid-2025, marking a critical step toward achieving large-scale decarbonization.

Mumbai / New Delhi, 12 February 2025: Honda India Foundation (HIF) has signed a Memorandum of Cooperation (MoC) with the Government of Uttar Pradesh today, marking the commencement of ‘Project Annadata- Sashakt Kisan, Samridh Rashtra’, aimed at supporting and strengthening Farmer Producer Organizations (FPOs) in the state. This project focuses on enhancing the overall development of FPOs by improving their access to resources, improving market linkages, and driving sustainable growth in the agricultural sector.

The MoC signing ceremony took place in New Delhi in the esteemed presence of prominent dignitaries including Shri Surya Pratap Shahi, Hon’ble Minister of Agriculture, Uttar Pradesh, and Honda India Foundation Trustees namely Mr. Vinay Dhingra and Mr. Katsuyuki Ozawa. Representatives from Honda Motorcycle and Scooter India (HMSI), Honda India Power Products (HIPP), and Honda Cars India Ltd. (HCIL) were also present, highlighting Honda’s collaborative approach to rural development.

Speaking on the occasion, Mr. Vinay Dhingra, Trustee, of Honda India Foundation, said, “At Honda India Foundation, we are dedicated to empowering rural communities and enhancing agricultural productivity, aligning seamlessly with the Government of India’s vision as also reflected in the 2025 Union Budget. Initiatives such as Prime Minister Dhan-Dhanya Krishi Yojana, the mission for Atmanirbharta in Pulses, and ensuring fair prices for farmers resonate with our objectives. Our efforts to strengthen Farmer Producer Organizations (FPOs) through Project Annadata are in harmony with these priorities as we work towards improving resource access and creating a resilient agricultural ecosystem that will benefit farmers at scale. This collaboration will enable us to create a meaningful impact at the grassroots. We will continue to contribute towards the development of a more resilient and prosperous agricultural ecosystem.”

Under this initiative, HIF, through its implementation partner, will onboard and strengthen 10 FPOs across two clusters of 5 FPOs each, focusing on systematic evaluations, capacity-building initiatives, business planning, and operational enhancements. This association aims to provide technical handholding to ensure smooth FPO operations and the adoption of modern agricultural practices. The initiative aims to engage with farmers, youth, environmental advocates, educational institutes, policymakers, non-profit organizations, and other stakeholders who are committed to fostering long-term sustainable practices and preserving the resources for future generations. The project is expected to reach over 1 lakh people in its initial phase, with the potential to impact 10 lakh individuals associated with agriculture in the long run.

Honda’s corporate philosophy is founded on the fundamental principles of “Respect for the Individual” and the “Three Joys” to support Honda’s universal passion: to improve the quality of people’s daily lives. The FPO initiative is a part of HIF’s broader commitment to community development and rural empowerment, reinforcing its role as a responsible corporate entity contributing to India’s economic progress.

Mumbai, February 2025: In a bold move that redefines how beauty brands connect with their audience, Maybelline New York has launched an innovative consumer-first campaign for its latest range, the Sunkisser. A revolutionary 2-in-1 highlighter and blush, Maybelline Sunkisser, available in 5 shades, is designed to deliver a radiant glow with a pop of sunkissed color, offering the perfect golden hour glow that lasts 12 hours, embodying the effortless beauty Maybelline is known for.

This campaign reimagines advocacy by engaging real consumers in shaping the product launch. It underscores the brand’s belief that the true power of beauty lies in the collective influence and authenticity of its community, which is the real voice of beauty.

At the heart of this campaign was Maybelline’s mission to empower consumers and make them an integral part of the product journey. To bring this vision to life, the brand partnered with leading beauty Key Opinion Leader, Malvika Sitlani, with a decade in the beauty creator industry, and whose dedication to empowering her community perfectly aligned with Maybelline’s brand vision of consumer-centric innovation.

The campaign unfolded through a distinctive first-of-its-kind four-city tour across Mumbai, Delhi, Bangalore, and Kolkata, where Malvika Sitlani connected with her followers at exclusive blind-testing meet-and-greet events. At these events, attendees had the opportunity to swatch and experience the Maybelline Sunkisser without knowing the brand or product name, allowing them to focus solely on its quality, blend-ability, and glowy finish. Each participant provided their feedback through a detailed questionnaire, and the overwhelming response was glowing—affirming Sunkisser’s appeal and effectiveness.

In partnership with Maybelline, Malvika brings the product’s magic to life in a campaign video, where she’s on a mission to capture the perfect golden hour glow while getting clicked as many of us do. Trying different angles and lighting, she struggles to catch that sought-after warm glow—until she reaches for the Maybelline Sunkisser. With just one swipe, the innovative highlighter + blush duo product delivers the radiant, sun-kissed glow she’s been chasing, proving that Sunkisser gives you the golden hour, anytime, anywhere.

Commenting on the campaign, Jessica Rode, General Manager, Maybelline New York India said “At Maybelline New York, our mission is to create products that resonate with our consumers and empower them to express themselves confidently. With the launch of Maybelline Sunkisser, we’re redefining the way we connect with our consumers. Rather than just launching the product and telling them what is great, we enabled our consumers to experience the product firsthand, contribute to the dialogue, and share their authentic beauty journeys. This marks a new era—one where beauty is not just created for the community but powered by it. More than a product launch, this is a celebration of self-expression and the creativity that makes Maybelline truly unstoppable.”

This campaign is a testament to Maybelline’s evolving philosophy—empowering consumers to shape beauty with their insights and preferences. By inviting real voices to take center stage, the brand is not just introducing Sunkisser; it’s cultivating a sense of inclusion, trust, and collaboration, ensuring the product is not only introduced but truly validated by its community.

Mr Anand Mahindra, Chairman, of Mahindra Group, today arrived at Invest Karnataka 2025 in the striking new BE6 – a moving embodiment of the group’s bold ambitions in the state.

Chandigarh, 12th February 2025: Cosmo First Limited today declared its financial results for the quarter ended Dec 2024.

The improvement in EBIDTA from Q3, FY24 is backed by higher specialty sales, enhanced volume and better BOPP and BOPET film margins. The Company has reached speciality sales of 73% of total volume in Q3, FY25 and 71% in Dec 2024 YTD basis as against 64% in FY24.

BOPET vertical (about 15% of Company’s sales for Q3, FY25) has also witnessed better margins and posted EBITDA in mid-teens during Q3, FY25.

The Net Revenue and margins are lower in Q3’FY25 from Q2’FY25 due to temporary break-down in one of the lines causing volume loss of 5%. BOPP Film margin has also witnessed pressure for few weeks in Q3, FY25 with some capacity commissioning in domestic industry though recovered due to strong demand. The BOPP base film margins are expected to remain subdued in FY26 due to expected capacity addition in the domestic industry. Q2’FY25 also had one time income of 9 crores due to property sales and tax incentives.

The Specialty Chemical subsidiary is advancing well to achieve high teens EBITDA and 30%+ ROCE in FY25.

Ms. Yamini Kumar (Jaipuria) has been appointed as Whole time Director (Corporate Strategy, ESG & CSR) for 5 years. The appointment will take effect from the date of allotment of DIN by Ministry of Corporate Affairs.

Commenting on Company’s performance Mr. Pankaj Poddar, Group CEO, Cosmo First Ltd said “For Film business, the Company’s focus remains on specialty film, expanding in international geographies, faster scaling up of new capacities and cost rationalization opportunities. Growth projects (BOPP Film line, CPP line and Sun-control Film) are expected to add to the topline and bottom-line from FY26. In Zigly, we have launched multiple Private labels and enhanced our Vet care services which favourably impacted topline and margins in Q3. The Rigid Packaging vertical shall start making positive EBIDTA from FY26.”

Chandigarh, February 12, 2025: Black Box Limited (BSE: 500463) (NSE: BBOX), a leading digital infrastructure solution provider, announced its results for the quarter and nine months ending 31st December 2024. The Company’s focus on continuous improvement and enhanced productivity measures led to significant growth YoY in both EBITDA and PAT.

Revenue for Q3FY25 stood at INR 1,502 crore, compared to INR 1,655 crore in Q3FY24. For 9mFY25 revenue stood at INR 4,422 crore compared to INR 4,801 crore in 9mFY24. Revenue was predominantly affected due to a subdued order book as a result of delayed decision-making with some of our large customers coupled with the company’s strategy to exit the tail customers. However, the company’s pipeline for digital infrastructure, across industry verticals including hyperscalers, continues to grow, positioning Black Box for sustained growth and market leadership. Order book stood at US$ 465 million (approx. INR 3,900 crore) as of December 2024.

The Company reported robust quarterly and nine-month EBITDA and PAT. EBITDA for the quarter was INR 134 crore, reflecting a growth of 15% YoY. For 9mFY25, EBITDA grew by 25% YoY and stood at INR 384 crore. EBITDA margins for Q3FY25 improved by 130 basis points YoY to 8.9% whereas for 9mFY25, EBITDA margins improved by 230 bps YoY and stood at 8.7%. The EBITDA margins improved due to better efficiencies and improved productivity.

Profit after tax for Q3FY25 stood at INR 56 crore, the highest ever, growing by 37% YoY and 10% QoQ. For 9mFY25, PAT increased to INR 144 crore, reflecting a growth of 49% YoY. PAT margins improved by 120 bps YoY and stood at 3.7% in Q3FY25 whereas for 9mFY25 PAT margins stood at 3.3%, reflecting a growth of 130 bps YoY. Strong operating performance has resulted in better profitability, despite higher exceptional items.

Black Box is capitalizing on the accelerating demand for digital infrastructure, particularly in the context of AI adoption. Recently, the company was awarded three large U.S. sites by one of the world’s leading hyperscalers for new data center build-outs, along with orders worth INR 250 crore. With hyperscalers significantly increasing their capital expenditure—projected at US$ 325 billion in 2025, a 55% year-over-year rise—Black Box is well-positioned to support the next-gen digital infrastructure powering AI and AI-driven models. These innovations are expected to accelerate IT infrastructure demand, driven by industries’ growing reliance on AI technologies for improved operational efficiencies and user experiences.

In addition to its hyperscaler engagements, Black Box is expanding its footprint across various sectors. Recent wins include an INR 100 crore cybersecurity project for a major municipal corporation, a global telecom network integration, and an INR 45 crore order for an airport. Black Box anticipates sustained demand for digital infrastructure across sectors, driven by the need for improved end-user experiences.

Black Box remains focused and committed to building the next-generation digital infrastructure for its global clients as it sees this decade as the era of a highly digital world, offering a sustained business growth opportunity.

Commenting on the results and performance Mr. Sanjeev Verma, Whole Time Director, Black Box said, “The rapid advancements in AI and the ongoing developments in this field are expected to drive a global surge in demand for AI tools across businesses. This, in turn, will accelerate the need for robust digital infrastructure. As a result, hyperscalers are making significant capital investments in AI infrastructure and data centers, reinforcing our confidence in reaching our growth target of US$2 billion in revenue by FY29.”

Mr. Deepak Kumar Bansal, Executive Director and Global Chief Financial Officer of Black Box, commented, “Our relentless focus on improving operating performance allowed us to achieve highest ever quarterly PAT. The company has, over the last few years, consistently generated strong ROE and ROCE, and remains committed to generating positive cash flows and better returns for the shareholders. Better efficiencies and productivity helped us in achieving stronger than estimated margins.”

Chandigarh, February 12, 2025: Nadir Godrej, Chairperson of the Godrej Industries Group, visited the World Economic Forum’s annual meeting in Davos recently, where he offered his insights on a range of topics from Artificial Intelligence (AI) and agriculture to climate change.

Mr. Godrej sounded an optimistic note on AI technology, highlighting its potential to be used as a force for good.

AI can be used in agriculture, he said, to catch disease and pest outbreaks early or analyze soil and crop conditions so farmers can better calibrate nutrient and fertilizer use.

In this way, it can help boost farmland productivity so that farmers can grow enough food to feed the world’s surging population. This is especially crucial at a time when climate change has made it harder than ever for them to grow that food.

Satellites can be used to photograph large tracts of land, he said. AI can then be deployed to study those photographs to determine early on whether there is an outbreak and what sort of outbreak it is, empowering farmers to take action before any disease or pest attack has had a chance to spread.

AI can similarly help analyze soil and crop health helping farmers gauge the timing and quantity of inputs like nutrients and fertilizers, avoiding overuse which can be damaging.

Mr. Godrej also addressed the thorny question of whether AI is going to take away human jobs. He compared the advent of artificial intelligence to other game-changing technological breakthroughs of the past, which resulted in productivity increases and ultimately created more jobs and opportunities.

While bullish on AI’s potential, Mr. Godrej sounded a note of caution saying AI needed to be used ethically. He advocated for a system of checks and balances to guard against any misuse.

Vedanta’s demerger received another endorsement as five leading proxy advisory firms issued reports recommending shareholders vote in favor of the company’s proposed demerger, which would eventually create five separate listed entities. The voting process for shareholders and creditors will occur electronically from Feb. 13 to Feb. 17, ahead of the respective meetings scheduled for Feb.18.

Proxy advisors that have issued the reports include US-based Institutional Shareholder Services Inc (ISS), Glass Lewis, along with Indian firms Institutional Investor Advisory Services (IiAS), InGovern and Stakeholder Empowerment Services (SES).

The demerger will eventually result in five listed entities: Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, and Vedanta Iron & Steel, while certain existing and upcoming businesses will remain under Vedanta Ltd. The demerger will likely be completed by July.

Acknowledging Vedanta’s rationale that the demerger will help create independent global-scale companies, US-based ISS noted that Vedanta’s existing shareholders will get shares in each of the newly listed entities, resulting in no dilution. It said, “Shareholders of the company would continue to participate in the growth prospects of the four businesses through their direct equity interest upon completion of the scheme. The shareholding of [the resulting four companies] each will mirror the shareholding of the company. Each of these companies will eventually get listed on the two stock exchanges [NSE & BSE]. Given the above considerations and the sound strategic rationale behind the demerger…. this resolution warrants shareholder support.”

Proxy advisor Glass Lewis said in its report that the one-to-one share exchange ratio ensures that shareholders will not experience any adverse economic effects from the eventual listing of the demerged entities. It also added that Vedanta’s management and the board are in the best position to determine what operational decisions are best in the context of the company’s business.

InGovern expects Vedanta’s minority shareholders to benefit as existing shareholders will get shares in the demerged entities. “Minority shareholders will effectively increase their total number of shares across multiple entities, potentially enhancing their overall investment value as these companies grow independently,” InGovern said in its report. “Given the clean swap of shares, which is beneficial for the minority shareholders as well as for the growth of all the companies, we recommend shareholders vote FOR this scheme of arrangement,” it added.

SES, too, observed in its report that the proposed valuation and overall distribution under the demerger is fair. “Effectively, pursuant to the demerger, these resulting companies shall create a mirror image of Vedanta’s shareholding pattern since all of them are wholly-owned subsidiaries of the company, and subsequently its shares shall be publicly listed. Additionally, the company has adequately justified the rationale for the Scheme. Therefore, no concern is identified with respect to the proposed scheme for demerger,” it said.

Mumbai-based Institutional Investor Advisory Services (IiAS) also backed the demerger. As per IiAS, the proposed scheme of arrangement will result in unlocking the value of the four resulting companies. “The shares of the [four] resulting companies…. will be listed on the stock exchanges with mirror shareholding. Therefore, the economic interest of shareholders remains unchanged. Hence, we support the transaction,” the firm said in its report.

Brokerages are also bullish on Vedanta’s demerger. In its recent report on Jan. 31, Nuvama maintained a “Buy” rating on Vedanta with a target price of INR 663. “We expect demerger of the business to be likely conclude by end-Q1FY26 as Vedanta seeks lenders’ and equity shareholders’ approval on 18th Feb 25,” it said.