All posts by Sujata Achary

Chandigarh, 30 January 2025: Air India today announced it will resume its non-stop services between Delhi and Tel Aviv from 02 March 2025.

Air India will operate 5x weekly to Tel Aviv, using its Boeing 787-8 Dreamliner aircraft that offers 18 flat beds in Business Class and 238 spacious, cushioned seats in Economy Class.

Bookings for flights between Delhi and Tel Aviv are open on all channels, including Air India’s website, mobile app, and through travel agents.

Air India’s decision to resume operations on the Delhi-Tel Aviv route follows the requisite approvals.

Chandigarh, India, January 30, 2025

Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, reported results today for the third quarter ended December 31, 2024.

Ritwik Bhattacharjee, Chief Executive Officer* of Embassy REIT, said,

“We are delighted to report another strong quarter, with a robust 13% increase in distributions, record quarterly NOI and revenue, amidst very strong demand for office space in our gateway markets. Embassy REIT’s portfolio remains the first port of call for GCCs and other leading companies in arguably the world’s most dynamic market for talent and innovation. CY2024 was a record year of absorption in India, and we are perfectly poised to capitalize on these leasing tailwinds in CY2025.”

The Board of Directors of Embassy Office Parks Management Services Private Limited (‘EOPMSPL’), Manager to Embassy REIT, at its Board Meeting held earlier today, declared a distribution of ₹559 crores or ₹5.90 per unit for Q3 FY2025. The record date for the Q3 FY2025 distribution is February 01, 2025, and the distribution will be paid on or before February 07, 2025.

Business Highlights

•  Leased 1.1 msf across 21 deals including 0.7 msf of new leases and 0.4 msf of renewals
•  Global Capability Centers (GCCs) from technology, financial services, engineering, and manufacturing sectors accounted for ~70% of leasing
•  Portfolio occupancy at 90% by value*, with key markets Bengaluru, Mumbai, and Chennai achieving occupancy levels​ of over 90%

Financial Highlights

•  Grew Revenue from Operations and Net Operating Income (NOI) by 9% YoY to ₹1,022 crores and ₹829 crores, respectively
•  Distributed ₹559 crores or ₹5.90 per unit, up 13% YoY; 9-month distributions stand at record ₹1,643 crores
•  Raised ₹1,000 crores of debt at ~7.73%, and secured c.70 basis points savings in interest cost

Operational & Growth Highlights

•  Delivered 0.6 msf office block to global banking major at Embassy TechVillage in Bengaluru
•  Development pipeline of 7.4 msf in Bengaluru and Chennai with an expected 19% yield on cost
•  Hotel portfolio continues to perform strongly with 20% YoY EBITDA growth and occupancy rising to 59%, up from 55% last year

Investor Materials and Quarterly Investor Call Details

Embassy REIT has released a package of information on the quarterly results and performance, that includes (i) condensed standalone and condensed consolidated financial statements for the quarter and nine months ended December 31, 2024 (ii) an earnings presentation covering Q3 FY2025 results, and (iii) supplemental operating and financial data book that is in-line with leading reporting practices across global REITs.

Chandigarh, 30 January 2025: Vedanta Resources, a diversified global natural resources, energy, and technology company spanning across India, South Africa, Zambia, Saudi Arabia, UAE, South Korea, Taiwan, Japan, Namibia, and Liberia, today announced the appointment of Deshnee Naidoo as Chief Executive Officer with effect from 20 January 2025. In her previous assignment, Deshnee was CEO of Vale Base Metals, which is a leading nickel and copper producer. She was also associated with Vedanta from 2014 to 2020, where she served in senior leadership roles including CEO of Africa Base Metals and CEO of Vedanta Zinc International. A reputed and dynamic global leader, Deshnee brings 27 years of experience in the resources business across different geographies and diversified metals and minerals.

Announcing the appointment, Anil Agarwal, Chairman, of Vedanta Group said, “Deshnee joins us at an exciting phase in our journey. After an amazing 25 years in which we have emerged as India’s champion in the resources sector, we are now embarking on a new phase of growth that will make us a $100 billion critical minerals, energy, and technology company, serving India and the world. At Vedanta, we always do business with a purpose. Deshnee’s growth mindset along with her commitment to sustainability aligns perfectly with our core values.”

Vedanta Resources is undergoing a fast-paced transformation, positioning itself as a key driver of growth in India and globally. Guided by its “Transformational Blueprint,” the company is focused on sustainable expansion, advancing green energy, circular economy initiatives, and digital transformation to redefine the resource sector. Its Indian subsidiary, Vedanta Ltd, is demerging its businesses to unlock significant value for stakeholders, with the acquisition of key mineral blocks to strengthen its portfolio. The appointment of Deshnee Naidoo as CEO marks a pivotal step in this journey, with her proven track record in sustainability and operational excellence poised to deliver the business’s full potential value.

Speaking on her appointment, Deshnee Naidoo said, “This is a homecoming for me, and I look forward to an exciting growth phase at Vedanta, enabled by the demerger. Guided by the Chairman, Mr. Anil Agarwal’s vision, we will work to make Vedanta a leading global conglomerate in critical minerals, renewable energy, and emerging technologies.”

Financial Results for the Quarter/Nine Month ended 31st December 2024 Bank’s Global Business is at ₹12.61 lakh Cr, up by 8% YoY

Key Highlights (Quarter ended Dec’24 over Dec’23)

•  Net Profit up by 35% YoY at ₹2852 Cr in Dec’24 from ₹2119 Cr in Dec’23
•  Operating Profit improved by 16% YoY to ₹4749 Cr in Dec’24 from ₹4097 Cr in Dec’23
•  Net Interest Income increased by 10% YoY to ₹6415 Cr in Dec’24 from ₹5815 Cr in Dec’23
•  Fee based income grew by 9% YoY to ₹931 Cr in Dec’24 from ₹852 Cr in Dec’23
•  Return on Assets (ROA) up by 28 bps to 1.39% in Dec’24 from 1.11% in Dec’23
•  Return on Equity (RoE) increased by 108 bps to 21.00% in Dec’24 from 19.92% in Dec’23
•  Yield on Advances (YoA) up by 14 bps to 8.92% in Dec’24 from 8.78% in Dec’23
•  Yield on Investments (YoI) increased by 32 bps to 7.12% in Dec’24 from 6.80% in Dec’23
•  Cost-to-Income Ratio reduced by 234 bps to 44.56% in Dec’24 from 46.90% in Dec’23
•  Gross Advances increased by 10% YoY to ₹559199 Cr in Dec’24 from ₹509800 Cr in Dec’23
•  RAM (Retail, Agriculture & MSME) advances grew by 13% YoY to ₹334739 Cr in Dec’24 from ₹296845 Cr in Dec’23
•  RAM contribution to gross domestic advances stood at 64.35%. Retail, Agri & MSME advances grew by 16%, 13.5% and 8% YoY respectively. Home Loan (including mortgage) grew by 12% YoY in Dec’24
•  Priority sector advances as a percentage of ANBC stood at 43.85% (₹192761 Cr) in Dec’24 as against the regulatory requirement of 40%
•  Total Deposits increased by 7% YoY and reached to ₹702282 Cr in Dec’24 as against ₹654154 Cr in Dec’23. Current, Savings & CASA deposits grew by 5%, 3.5%, and 4% YoY respectively
•  Domestic CASA ratio stood at 40% as on 31st Dec’24
•  CD ratio stood at 79.63% as on 31st Dec’24
•  GNPA% decreased by 121 bps YoY to 3.26% in Dec’24 from 4.47% in Dec’23, NNPA% reduced by 32 bps to 0.21% in Dec’24 from 0.53% in Dec’23
•  Provision Coverage Ratio (PCR, including TWO) improved by 219 bps YoY to 98.09% in Dec’24 from 95.90% in Dec’23
•  Slippage Ratio improved by 50 bps to 0.78% in Dec’24 from1.28% in Dec’23
•  Capital Adequacy Ratio improved by 34 bps to 15.92%. CET-I improved by 91 bps YoY to 13.27%, Tier I Capital improved by 89 bps YoY to 13.77% in Dec’24
•  Earnings Per Share (EPS) increased by 26% to ₹84.70 in Dec’24 from ₹67.12 in Dec’23

Key Highlights (Quarter ended Dec’24 over Sep’24)

•  Net Profit up by 5% QoQ to ₹2852 Cr in Dec’24 from ₹2707 Cr in Sep’24
•  Return on Assets (RoA) improved by 6 bps to 1.39% in Dec’24 from 1.33% in Sep’24
•  Yield on Advances (YoA) improved by 15 bps to 8.92% in Dec’24 from 8.77% in Sep’24
•  NIM (Domestic) increased by 8 bps to 3.57% in Dec’24 from 3.49% in Sep’24
•  GNPA decreased by 22 bps to 3.26% in Dec’24 from 3.48% in Sep’24, NNPA reduced by 6 bps to 0.21% in Dec’24 from 0.27% in Sep’24
•  Slippage ratio decreased to 0.78% in Dec’24 from 1.06% in Sep’24.
•  Credit Cost decreased by 18 bps to 0.47% in Dec’24 from 0.65% in Sep’24

Key Highlights (Nine Months ended Dec’24 over Dec’23)

•  Net Profit up by 37% YoY to ₹7962 Cr in 9MFY25 from ₹5816 Cr in 9MFY24
•  Operating Profit increased by 11.5% YoY to ₹13980 Cr in 9MFY25 from ₹12535 Cr in 9MFY24
•  Net Interest Income grew by 9% YoY to ₹18787 Cr in 9MFY25 from ₹17258 Cr in 9MFY24
•  Net Interest Margin (NIM) Domestic stood at 3.53% in 9MFY25
•  Return on Assets (RoA) improved by 27 bps to 1.31% in 9MFY25 from 1.04% in 9MFY24
•  Return on Equity (RoE) increased by 137 bps to 20.62% in 9MFY25 from 19.25% in 9MFY24
•  Cost-to-Income Ratio reduced by 50 bps to 44.67% in 9MFY25 from 45.17% in 9MFY24

Network:

•  The Bank has 5877 domestic branches (including 3 DBUs), out of which 1987 are Rural, 1543 are Semi-Urban, 1179 are Urban & 1168 are in Metro category. The Bank has 3 overseas branches & 1 IBU (Gift City Branch).
•  The Bank has 5224 ATMs & BNAs and 13292 number of Business Correspondents (BCs).
• Digital Banking:
•  Business of ₹1,18,981 Cr has been generated through Digital Channels in 9MFY25. A total of 117 Digital Journeys, Utilities and Processes have been launched so far.
•  Number of Mobile Banking users has grown by 18% year over year, reaching 1.86 Cr.
•  UPI users and Net Banking Users have seen a 24% & 9% YoY increase respectively, reaching 2.04 Cr and 1.12 Cr respectively.
•  The Credit Card users increased by 52% YoY to 2.83 lakh. The transactions in Point of Sale (PoS) terminals has increased by 23% YoY, reaching to 35 lakh.

Awards & Accolades:

•  The Bank received prestigious SKOCH Award for “Project WAVE”, an Indian Bank’s digital transformation journey and for “SMA Collection Proclivity Predictor”- a model built to predict the probability of default for Special Mention Accounts (SMA) and reduce risks by outlining a targeted collection journey.
•  The Bank was honoured with the “Best Public Sector Bank” award in the organisational category and the MD & CEO of the Bank received “CEO of the Year” award at Tamil Nadu Leadership Awards 2024.
•  The Vertical Head of CMS/SCF conferred with PT100 Leadership Award as an “Innovator & Disruptor in Asia Pacific” at the Payments Transformers conference in Singapore.
•  In the 9th Banking Leadership Summit 2024 of Indian Investors Federation, the Bank received award for “Best Infrastructure & Ambience in UP”, “Best Marketing Strategies for business in the year 2024 in UP” and runner up for “Banker of the Year 2024”.
• In the IBA Annual Banking Technology Conference, 2024 – Special Mention under Large Bank segment, the Bank received award for “Best Digital Sales, Payments & Engagement”, “Best Tech Talent & Org., “Best AI and ML Adoption” and “Best FI”.
•  During the 5th Annual BFSI Technology Excellence Awards 2024, the Bank was awarded “Best Cloud Initiative of the Year” – ET Edge recognition 2024 and “Best Team Project in Cloud Implementation (PSB)”.

Our Focus

Our focus is to deliver value-added, innovative and tailored solutions to the customers through omni-channel experience and with dedicated and skilled workforce. We will focus on achieving compliant, sustainable and inclusive growth, with a clear emphasis on customer service, CASA, MSME, and continued digital transformation.

MUMBAI—January 29, 2025—Prime Video, India’s most loved entertainment destination, today unveiled an intriguing trailer for its much-anticipated Original movie, The Mehta Boys. The movie is directed by Boman Irani, who has co-written it alongside Academy Award winner Alex Dinelaris, and is produced by Boman Irani, Danesh Irani, Vikesh Bhutani, and Shujaat Saudagar under the banner of Irani Movietone LLP in association with Chalkboard Entertainment LLP. A heartfelt father-son story, the movie features a highly talented and versatile cast, featuring Boman Irani, Avinash Tiwary, Shreya Chaudhry, and Puja Sarup in lead roles. The Mehta Boys is set to premiere exclusively on Prime Video in India and over 240 countries and territories worldwide in Hindi, with dubs in Tamil, Telugu, Malayalam, and Kannada and subtitles in multiple languages on February 7.

The trailer for The Mehta Boys offers a heartfelt and emotionally charged glimpse into a story brimming with family conflict, vulnerability, and growth. The stellar performances of its cast shine through, in the trailer, capturing the raw, unfiltered dynamics of a father-son relationship strained by misunderstandings and unspoken emotions. With its blend of light-hearted moments and intense emotional depth, the narrative unravels the imperfections of its characters, making them deeply relatable and authentic. This moving tale promises to explore the complexities of human connections, offering viewers of all ages, a story that’s as thought-provoking as it is entertaining.

“For me, The Mehta Boys is an extremely personal journey,” said writer, actor, director, and producer, Boman Irani. “The relationship between a father and son is one of the most complex and emotionally charged dynamics. With this film, I wanted to delve into how the bond between two people who deeply care for each other can be tested by time, misunderstandings, and unresolved issues. It is a story that has stayed with me for years, and I’m thrilled to finally share it with audiences in India and across the world on Prime Video. I am deeply grateful to the talented cast for bringing their characters to life with such depth and authenticity, enriching the story in every way.”

Avinash Tiwary, who portrays the role of Boman Irani’s son Amay in the movie, shared, “Amay’s character is layered with complexities, torn between familial loyalty and personal resentment. Certain circumstances force him into an intense and transformative encounter with his father, reshaping his perspective in ways he never anticipated. Portraying this journey was both challenging and rewarding. I am proud to be part of a movie that explores such relatable themes of family ties and reconciliation. I am sure the viewers, not only from India but from across the world, will truly enjoy and connect with this beautiful story of human relationships when it premieres on Prime Video on February 7.”

Shreya Chaudhry who plays Zara, says, “My Character Zara, Amay’s girlfriend, is a strong, independent woman with her own perspective. She plays a key role in encouraging Amay to confront his issues with his father instead of continuing to pretend they don’t exist. What I loved about my character was that she is not in the shadows as someone’s love interest, but has a meaningful role in shaping the story with her strength and individuality, even though the storyline revolves around the dynamics of a father-son relationship. I am incredibly proud to bring this story to life along with talented actors such as Boman Irani, Avinash Tiwary, and Puja Sarup. I am looking forward to the audience witnessing the compelling narrative when The Mehta Boys premieres on Prime Video in India and worldwide on February 7.”

Puja Sarup who plays Anu said, “Anu, in many ways, is the anchor of the story. As the daughter and sister caught in the crossfire between two stubborn men, my character tries to be the voice of reason, tries to step into her mother’s shoes. It has been an incredible experience, collaborating with Boman, Avinash and Shreya. We’ve seen the love and appreciation the The Mehta Boys has garnered thus far and I am thrilled that we’re taking the story to a global audience with the film premiering on Prime Video in India and across the world.”

Kochi, January 29: South Indian Bank proudly celebrates its 96th Foundation Day on January 29, a significant milestone marking nearly a century of trust, innovation, and exceptional service in the banking sector. To commemorate this special occasion, the Bank has launched “96 Debit Card Offers,” an initiative designed to provide exclusive benefits to its debit card customers.

Since its inception in 1929, South Indian Bank has grown into a cornerstone of the Indian banking landscape, consistently delivering value-driven financial solutions while adapting to changing customer needs. This milestone reflects the Bank’s legacy of resilience, customer-centricity, and innovation.

As part of the “96 Debit Card Offers” campaign, South Indian Bank has partnered with leading brands, including Amazon, Zomato, MakeMyTrip, Croma, Lulu, EazyDiner, and BookMyShow, to offer tailored deals across a wide array of categories. Customers can enjoy benefits in lifestyle, travel, food, wellness, home décor, dining, entertainment, jewelry, gifting, leisure, and education.

Reflecting on the journey of 96 years, Mr. Sanchay Sinha, CGM & Head – Retail Assets of South Indian Bank, said, “The 96th Foundation Day is not just a celebration of our achievements but a testament to the trust and loyalty of our customers. Over the years, we have embraced innovation while staying true to our core values. With the launch of these exclusive debit card offers, we aim to express our heartfelt gratitude to our customers and reaffirm our commitment to enhancing their banking experience.”

South Indian Bank’s journey of 96 years stands as a symbol of its unwavering commitment to fostering growth, enabling financial inclusion, and delivering excellence in banking. For more information on the “96 Debit Card Offers,” customers are encouraged to visit the Bank’s official website or contact their nearest branch.

India, January 29, 2025 – The Wellness Co., a leader in integrative luxury wellness, is thrilled to announce the opening of its newest center in Punjabi Bagh, New Delhi. This expansion reflects the brand’s ongoing commitment to providing personalized, state-of-the-art wellness solutions designed to enhance health and elevate lifestyles. Strategically located in the vibrant heart of Delhi, the new 1,800-square-foot centre in Punjabi Bagh offers a perfect blend of tranquillity and sophistication, creating an ideal environment for relaxation and renewal. The space harmonizes modern luxury with a calming ambiance, ensuring visitors experience an unparalleled setting for their wellness journey. With this latest addition, The Wellness Co. continues to set the standard for holistic wellness, making its advanced therapies more accessible to individuals seeking transformative care.

The new clinic is equipped with cutting-edge, FDA-approved wellness technologies that ensure every treatment is both safe and effective, providing clients with optimal results. Notable offerings include whole-body cryotherapy for recovery and circulation, IV Drip Therapy for energy and hydration, Hyperbaric Oxygen Therapy for cellular rejuvenation, and Red-Light Therapy for reducing inflammation and improving skin health. Additional services such as EMS Training, Far Infrared Sauna Therapy, and Advanced Genetic Testing offer innovative solutions for fitness, detoxification, and personalized wellness insights. Guided by certified professionals, The Wellness Co. tailors each treatment to meet individual health goals, providing transformative results.

Reach out to The Wellness Co. to book your free consultation and start your wellness journey now!

Quote by Anny Paul, COO, of The Wellness Co.:
“We are excited to expand The Wellness Co. to Punjabi Bagh, bringing cutting-edge, FDA-approved therapies to empower individuals in all aspects of their lives. This clinic embodies our commitment to transforming lives through wellness and supporting clients in their journey toward enhanced health and well-being. At The Wellness Co., wellness is more than a service—it’s a lifestyle. Our personalized treatments are designed to help individuals feel better and live better.”

Globe Textiles, a leading name in the textile sector offers existing shareholders and new investors a unique opportunity to participate in the company’s steady growth journey by participating in its rights issue.

Below are the key details:

• Closing price: ₹ 3.84 closing price on 28th January 2025
• Right issue price: ₹ 3 per share
• Right Entitlement: 1 share for every 2 shares held
• Rights Issue Opening Date: January 24, 2025
• Rights Issue Closing Date: February 6, 2025
• Renunciation of Rights Entitlement Period: January 24, 2025, to January 31, 2025
• Record Date: January 17, 2025
• Rights Issue Size: ₹ 4,504 lakhs

The Rights Issue shares offered at a favorable price of ₹3 compared to the current market price of ₹ 3.84 closing price as of 28th January 2025, present an appealing opportunity for investors seeking to invest in this potential stock. Investors can buy any portion of Rights Issue at ₹3 per share, offering a strategic and cost-efficient way to gain exposure to a steadily growing company.

The offer is already attracting significant interest, showcasing its strong appeal to investors. The subscription window for Global Textile RE (Rights Entitlement) will remain open from January 24 to January 31, 2025. The record date was January 17, 2025.

As a dynamic and resilient player in the textile industry, Globe Textiles has consistently showcased its adaptability to market trends and its commitment to delivering sustainable performance.

Speaking about the rights entitlement Mr. Bhavik Parikh, Chairman and Managing Director of Globe Textiles states “The Company is poised for growth in the upcoming year, focusing on key investments in infrastructure, research and development, product innovation, and market expansion to sustain its progress and enhance profitability. The Rights Issue offers investors a great opportunity to increase their stake and be part of the Globe Textiles growth journey. This initiative underscores our commitment to delivering long-term value for all stakeholders while seizing opportunities for future growth.”

Globe Textiles aims to raise ₹4,504 lakhs from the Rights Issue. The funds to be raised are strategically earmarked for critical business objectives, including expansion initiatives, and enhancing working capital leading to further growth of the company. These measures are aimed at strengthening the company’s operations, fostering innovation, and paving the way for future growth.

For the six months ended September 30, 2024, the company achieved a remarkable Net Profit of ₹652 lakhs, surpassing the ₹575 lakhs recorded for the entire FY2023-24. Additionally, for the quarter ended September 30, 2024, the company reported a significant 102.20% increase in Net Profit, reaching ₹380.76 lakhs compared to ₹188.31 lakhs in the same period of the previous financial year. This robust performance underscores the success of the company’s strategic initiatives aimed at driving revenue growth, improving profitability and expanding its market share.

The above performance also highlights the positive impact of Globe Textiles’ strategic acquisition of a 70% stake in Globe Denwash, a company renowned for its expertise in sustainable denim washing and finishing. Globe Denwash employs advanced sustainable processing techniques that significantly reduce energy consumption and incorporate a Zero Liquid Discharge system to maximize water recycling this acquisition has significantly bolstered Globe Textiles’ presence in key international markets, including the UK, US, Europe, and other regions that prioritize partnerships with sustainability-driven organizations.

In today’s fast-paced business landscape, companies are under constant pressure to stay competitive while efficiently managing daily tasks. Partnering with the right service providers is key to boosting productivity, streamlining operations, and ensuring security.

With a wide range of solutions available, selecting the right partners can be daunting. To help businesses navigate this, here are four companies that are making a significant impact. From seamless payment systems to robust security and flexible financing, these brands offer the tools and expertise necessary for businesses to thrive and remain agile in an ever-evolving market.

Seqrite
Seqrite is a leading enterprise cybersecurity solutions provider. With a focus on simplifying cybersecurity, Seqrite delivers comprehensive solutions and services through their patented, AI/ML-powered tech stack to protect businesses against the latest threats by securing devices, applications, networks, cloud, data, and identity. They are differentiated by their easy-to-deploy, seamless-to-integrate comprehensive solutions providing the highest level of protection against emerging and sophisticated threats powered by state-of-the-art threat intelligence and playbooks backed by world-class service provided by best-in-class security experts at India’s largest malware analysis lab – Seqrite Labs. Seqrite Data Privacy management solution enables organizations to stay fully compliant with the DPDP Act and global regulations.

Easebuzz
Easebuzz is a software-enabled payments platform designed to digitize payments for small businesses, including educational institutes. Its smart APIs and cost-effective solutions make it easier to integrate online payment collections, vendor payouts, and financial operations into existing tech stacks, websites, and apps. With Easebuzz, institutes can streamline financial processes without worrying about complex business scenarios.

Arete
Arete is transforming the way organizations prepare for, respond to, and ultimately, prevent cyberattacks. With decades of experience, their global team of cybersecurity experts has been on the front lines of some of the world’s most challenging data breaches and ransomware attacks. Their complete offerings — from incident response to managed and advisory services — are designed to help companies address the full threat life cycle while also strengthening their overall cyber posture.

Barracuda
Barracuda strive to make the world a safer place. They believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. They protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers’ journey. Hundreds of thousands of organizations worldwide trust Barracuda to protect and support them so they can focus on taking their business to the next level.

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

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

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

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

Product Innovation

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

Human Resources

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

Wind Turbine Generator (WTG) Manufacturing

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

OMS

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

Awards and Recognition

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