Category business

Kolkata, 27th May 2023: The Indian Chamber of Commerce organised the 2nd East Energy Conclave, a premier gathering of industry experts, policymakers, and investors held on Friday, 26th May 2023. This significant event aimed to shed light on the abundant opportunities for growth and investment within the power sector. The conclave also served as a crucial forum for participants to discuss the emerging trends, challenges, and advancements in the power industry. With a focus on the Eastern region of the country, the event is intended to highlight the untapped potential and investment prospects in this rapidly evolving sector. This facilitated meaningful dialogues to explore avenues for sustainable growth and explore investment opportunities that can further propel the power sector’s development. Renowned personalities from various sectors of the power industry graced the event as esteemed speakers such as Shri Aroop Biswas, Minister-in-Charge, Power, Youth Services and Sports and Housing, Govt. of West Bengal, Mr. Anil Razdan, Former Secretary, Power GOI, Mr. Gautam Ray, President (HR-Power Group), RPSG Group of Companies, Mr. Tanmoy Kumar Banerjee, CMD, Bhavika Commercial Pvt Ltd, Mr. Naresh Juneja, Director, Fenasia Ltd & Honorary CG, Cuba, Mr. Rajib Sutradhar, ED, Eastern Region Load Despatch Centre, and Dr. Rajeev Singh, Director General, Indian Chamber of Commerce.

Mr. Anil Razdan, Former Secretary, Power GOI, expressed his anticipation in the virtual welcome address, stating, “The East Energy Conclave serves as a remarkable platform for discussing the immense potential for growth and investment in the power industry. I am honored to be part of this event and share my thoughts on this crucial subject. I am amazed how the Eastern energy sector not only presents opportunities for growth but also attracts investments. The region boasts an impressive 87% share of hydrocarbon fuels, showcasing its immense potential. Furthermore, the transition towards renewable energy sources is the way forward. Shifting from fossil fuels to non-fossil alternatives will benefit us all. Additionally, the Eastern region, including Assam, Orissa, and Kolkata, holds great potential for growth in sectors such as automobile manufacturing. Strengthening ties with Bangladesh will be beneficial, especially in the areas of hydroelectric power generation and establishing hydroponic houses in the North East. Furthermore, Kolkata’s strategic position as the heart of the region’s industry and commerce, combined with its favourable climate, makes it an ideal hub for energy development. I must also mention that the Eastern region boasts the best pump storage facility in Purulia, which serves as a reliable source of hydroelectric power. It is an exciting time for the energy sector in this region, and I am eager to engage in fruitful discussions and explore ways to harness its full potential.”

As a leading figure in Bhavika Commercial Pvt. Ltd., Mr. Tanmoy Kumar Banerjee brought a unique perspective to the conclave. He conveyed his enthusiasm, stating, “In the face of economic turmoil and geopolitical uncertainties, we witness remarkable growth in the Indian economy. Termed one of the fastest-growing economies globally, India’s GDP is bolstered by the contributions of Jharkhand, Bihar, Orissa, and West Bengal. In particular, West Bengal stands out with its significant 23% contribution, surpassing its population share. Initiatives aimed at promoting business and fostering a favourable investment climate play a pivotal role in the region’s development. West Bengal is a state that has a great deal of potential to accelerate the expansion of the nation because of the East’s distinctive personality and strategic location. We must harness the power of both quantitative and qualitative data to further strengthen the state’s commerce. It is worth noting that West Bengal, with a land area equal to the size of Serbia, possesses abundant human capital and natural resources. The state has made significant strides in the power sector, including hydroelectric, solar, wind, and tidal energy. The contribution of small and medium enterprises (SMEs) to the growth and economy of the region is noteworthy. Industrialization plays a crucial role, and initiatives like ‘Make in India’ are instrumental in fostering this transformation. Addressing climate change is a pressing issue, and the transition to renewable energy sources is of paramount importance. We must unlock new avenues and facilitate a seamless transition towards sustainable practices. In this context, business matters, as it holds the key to our collective betterment and the long-term prosperity of the region.”

Director, Fenasia Ltd & Honorary CG, Cuba, Mr. Naresh Juneja’s expertise in energy management and international collaboration added immense value to the conclave. He expressed his optimism, stating, “As the Director, Fenasia Ltd & Honorary CG, Cuba, I am proud to share my insights that we are the 3rd largest electricity producer in the region, generating and selling power to meet the growing demand. Due to increased digitalization and the active incorporation of AI technology, the power sector has seen a phenomenal 7.2% annual growth in the output of renewable energy. The dynamics of the market have seen a significant shift, with the increasing importance of power reserves and the surge in demand for electricity, particularly from industries like the leather sector. To address environmental concerns and reduce carbon footprints, it is crucial that we tap into renewable resources as a sustainable solution. I understand the need to embrace renewable energy sources and work towards a greener future. I believe that by combining innovation, technology, and responsible business practices, we can create a positive impact and contribute to a more sustainable energy ecosystem. It is essential for the industry to recognise the significance of reducing our dependence on fossil fuels and actively seek alternative energy solutions. Through collaboration and continuous efforts, we can pave the way for a cleaner and more sustainable energy landscape, benefiting not only our present but also future generations.”

As a prominent representative of the Eastern Region Load Despatch Centre, Mr. Rajib Sutradhar provided valuable insights into regional energy management. He stated, “As the Executive Director of the Eastern Region Load Despatch Centre, I am closely observing the emerging issues in the power sector. One notable trend is the increasing amount of solar energy generation and the challenges associated with its integration into the grid. We need to address issues such as pattern recognition, ramping, and variability in solar generation to ensure a stable and reliable energy supply. Two key solutions that have gained prominence are battery storage and pump storage. Many ongoing projects focus on enhancing battery storage capacity, enabling better management of intermittent renewable energy sources. Additionally, pump storage facilities, like the one in Purulia, have proven to be effective in balancing the grid during peak demand periods. While there is a significant number of pump storage projects, there is a need to augment solar power generation in the region. Collaboration with neighbouring countries such as Nepal, Bhutan, and Bangladesh holds great promise as they are well-connected and possess abundant sources of power generation. These partnerships allow us to explore opportunities for power exchange, taking advantage of each country’s strengths and addressing the energy demands of the entire region. The Eastern region, with its strategic location and diverse energy resources, has the potential to become a hub for power generation. By leveraging these resources and fostering cross-border collaborations, we can achieve a more robust and sustainable energy landscape in the Eastern region.”

As the esteemed Minister-in-Charge, Power, Youth Services and Sports and Housing, Govt. of West Bengal, Shri Aroop Biswas shed light on the government’s initiatives and policies aimed at driving the power sector’s growth. He expressed his commitment, stating, “It is with immense pride and satisfaction that I reflect on the remarkable progress we have achieved in harnessing solar power sources under the leadership of Mamata Banerjee. In the past, load shedding was a common occurrence, but the visionary efforts of our Chief Minister eradicated this issue from the roots. West Bengal has emerged as a frontrunner in the power sector, with notable contributions from NTPC, DVC, Reliance Power, and Adani Power. We have successfully reduced our reliance on imported coal, ensuring energy self-sufficiency for the state. Notably, the installation of 33 KV power plants since 2011 has been a significant milestone, with a staggering capacity of 85 lakh households receiving uninterrupted power supply. Our commitment to renewable energy is evident with the introduction of solar power plants such as Tungadhowa Solar Park and ACDCL, contributing to the clean and sustainable energy transition. The transformational initiatives implemented have witnessed the reduction of carbon emissions, with Durgapur Power Plant’s law seduction resulting in a commendable decrease from 1706 megawatts to zero. Looking ahead, we are determined to continue our efforts towards further power plant introductions, with a target of installing 4,000 megawatts of additional capacity. The East and North East regions of India hold immense potential and play a vital role in providing access to power for all. Inspired by the words of Rabindranath Tagore, ‘Amar ghore esho’, we invite and encourage all stakeholders to join hands in this transformative journey, fostering progress, prosperity, and a brighter future for all.”

Mr. Gautam Ray, President (HR-Power Group), RPSG Group of Companies, a respected figure within the power industry, enlightened the audience with his profound knowledge. He emphasized, “I wholeheartedly agree with Aroop Biswas’s inspiring quote by Rabindranath Tagore, as it resonates with the global energy landscape. As we gather at the 2nd East Energy Conclave, it is crucial to recognize the urgency of transitioning from fossil fuels to non-fossil fuel sources. With a staggering global target of 2.2 billion watts and 2,500 megawatts in Kolkata alone, the growing energy consumption signifies a holistic growth trajectory. To achieve this transition successfully, we must focus on energy dispatch optimization, scheduling, and the utilization of rich renewable resources. The energy sector has witnessed a qualitative change, with a shift in our approach towards the responsible use of energy. Over the past decade, we have witnessed a significant shift in equipment utilization, particularly in the rapidly emerging e-mobility sector. This shift presents immense opportunities for commercial and technical investments. In our pursuit of a net-zero future, we must prioritize energy efficiency and adopt new, innovative products and technologies. Emphasizing the need for commercial and technical investment, we can drive efficiency, enhance capacity building, and unlock the vast potential for job opportunities. Together, by fostering collaborations and leveraging the collective expertise, we can navigate the challenges and seize the opportunities that lie ahead. Let us work towards a sustainable energy future, where efficiency, innovation, and responsible utilization of resources lead us to a better and brighter tomorrow.”

Dr. Rajeev Singh, the Director General of the Indian Chamber of Commerce (ICC), emphasised the importance of the conclave, stating, “The ever-increasing energy demand is a reality we cannot ignore. As the pie continues to grow, we must recognise the need for greener and more sustainable options to meet this demand. The ongoing conflict in Ukraine has disrupted power plant operations, further emphasising the urgency to explore alternative and more environmentally friendly solutions. Sustainability and green growth must be at the forefront of our agenda. It is essential to embrace innovative technologies and policies that promote a cleaner and more sustainable energy ecosystem. We must prioritise the development and implementation of strategies that balance economic growth with environmental stewardship. In conclusion, I would like to extend my heartfelt gratitude to all the esteemed speakers who have shared their valuable insights and expertise. The credit goes to the Chief Minister and Minister Aroop Biswas for their visionary leadership and commitment to driving positive change in the power sector. Aroop Biswas’s emphasis on presenting factual numbers rather than mere rhetoric demonstrates his dedication to practical solutions. I am hopeful that this conclave is rewarding enough for the set of business minds present here and this will create an optimistic effect on the industry.”

Photo Caption of Pic 3 (L-R): Mr. Naresh Juneja, Director, Fenasia Ltd & Honorary CG, Cuba, Mr. Rajib Sutradhar, ED, Eastern Region Load Despatch Centre, Dr. Rajeev Singh, Director General, Indian Chamber of Commerce, Shri Aroop Biswas, Minister-in-Charge, Power, Youth Services and Sports and Housing, Govt. of West Bengal, Mr. Gautam Ray, President (HR- Power Group), RPSG Group of Companies, Mr. Tanmoy Kumar Banerjee, CMD, Bhavika Commercial Pvt Ltd

While WhatsApp calls might seem one of the most convenient options for many, receiving voice/ video calls or messages from unknown international numbers might land one in trouble.

There has been a massive increase in the number of fraudulent calls/ messages received via WhatsApp. People started complaining on Twitter that they are getting calls from countries like Ethiopia (+251), Malaysia (+60), Indonesia (+62), Kenya (+254), Vietnam (+84). Observing the sudden increase in cybercrime, the Zee Business team decided to release an informative video to help citizens avoid falling into the trap of fraudulent WhatsApp calls or messages.

With an aim to let WhatsApp users in India understand the mechanism of fraudulent WhatsApp calls/ messages? Deepika Singh, Social Media Expert & CEO of, DeepCytes presented facts mentioning that specific data sets are sold to hackers. She also mentioned interesting facts on how automation using Voice over Internet Protocol (VOIP) becomes a convenient option for hackers as compared to cellular numbers. There is a high possibility that these WhatsApp calls have been automated for mass calling.

Sachin Dedhia, Ethical Hackers also stated that there are also high chances that hackers might try to hack your phone through missed call on an experimental basis.

As this issue was responsibly raised by Zee Business, WhatsApp further carried out certain measures to block calls from international numbers.

The rise of online scams has prompted tech companies to invest heavily in developing innovative solutions that can identify and prevent fraudulent activities in real time. DoT asked the company to take action, by making SIM card mandatory. WhatsApp will soon make SIM cards mandatory to use the app on the phone. WhatsApp has also started intensifying its efforts toward deploying Artificial Intelligence to combat this menace.

Ashwini Vaishnaw, Telecom Minister, further stated, “The government has discussed the issue of fraudulent calls/messages with WhatsApp. In response to the same, WhatsApp has assured continuous commitment to user safety in India.” The Telecom Minister also launched the Sanchar Sathi portal on the occasion of World Telecommunication and Information Society Day This portal aims at helping users track their lost and stolen phones as well.

Highlighting the relevance of timely reportage on Cyber Crime, Anil Singhvi, Managing Editor, Zee Business said, “Zee Business has been consistent in reporting issues that can heavily impact the daily lives of citizens. We hope the informative videos and regular news updates on the ongoing fraudulent calls / messages have been an eye-opener for WhatsApp users to not answer / reply to calls or messages and report it immediately to the concerned authorities.”

Zee Media Corporation Ltd, one of India’s leading media companies, has a strong presence in the news and regional genres, with 13 news channels in seven different languages, reaching more than 528+ million viewers through its linear and digital properties.

 27th May 2023  Bengaluru NI (India) Pvt. Ltd. and Paninian are happy to announce their Memorandum of Understanding at the IESA Deftronics event in Bengaluru.

This partnership aims to create value for Aerospace, Defense, and Government customers to help accelerate the Product Development, Certification, and Life Extension of strategic platforms including Aero Engines.

This MoU brings together NI’s cutting-edge capabilities in providing a comprehensive ecosystem of hardware cum software solutions for Emulation, Real-time Analysis of physical platforms along with Paninian’s expertise in the Design and Validation of Complex Systems including AeroEngines.

This collaboration brings forth state-of-the-art personalized Digital Twin solutions to empower Indian Aerospace & Defense sector by saving cost and time for achieving faster turnaround in their mission readiness as well as achieving self-reliance to fulfill the vision of Atmanirbhar Bharat.

Mumbai,27th May 2023QuikShef, a flagship brand of Wardwizard Foods & Beverages Ltd.(BSE Code: 539132) and one of the leading quick-service chain restaurants in India, has launched five new delectable items to its already impressive menu at all of its outlets.The new menu includes a variety of delicious and mouth-watering dishes that are sure to tantalize the taste buds of foodies across the country. Through this launch, QuikShef aims to solidify its reputation as one of India’s most dynamic and rapidly-evolving food chains.

The new items that have been launched include a range of burger flavors such as Tex Mex Salsa, Schezwan, Tandoori, Garlic Mayo, and Chipotle. All of these flavors are available at a price of just Rs 45, making them an affordable and tasty option for anyone looking for a quick snack or meal.

In addition to the burgers, QuikShef has also introduced a range of other snacks and dishes, including small French fries at just Rs 35, Cocktail Samosas at Rs 50, PavBhaji at Rs 80, and Aloo Mutter and Veg Club Sandwiches at Rs 75 and Rs 85, respectively. For those looking for something a bit more substantial, QuikShef has also introduced a range of delicious sandwich options such as Paneer TikkaSandwichesat Rs 100 and Cheese CornSandwiches at Rs 110.

Speaking about the launch of QuikShef’s new menu items,Mrs.Sheetal Bhalerao, Chairperson and Managing Director, Wardwizard Foods and Beverages Ltd. said,”We are pleased to introduce these new items to our menu as we understand that our customers are always looking for new and exciting food options. At QuikShef, we strive to deliver the best possible experience to our customers whenever they visit our outlets. With the introduction of these new items, we aim to cater to the diverse tastes and preferences of our customers. We are confident that our new range of dishes will be a hit, and we look forward to serving our customers in the months and years to come.”

These new offerings are a testament to QuikShef’s commitment to providing its customers with a comprehensive and diverse range of food options that cater to a wide range of tastes and preferences. Whether customers are in the mood for something spicy and flavourful or something more hearty and filling, QuikShef has got them covered with its new menu.

QuikShef has been expanding its reach and currently has 28 outlets in various locations across the country, including Kapadwanj, Padra, Sadhli, Manjusar, Karjan, Anklav, Borsad, Petlad, Changa, Jarodh, Valetva, V V Nagar, Waghodia, Jambusar, Kayavarohan, M.G Road, Dabhoi, Anand, Por, Muwal, Halol, Manjalpur, Bill-Chapad, KJIT-Savli, Sankheda, Umreth, Vaso, and Pandora. The company is constantly on the lookout for new locations to open outlets, making it easier for customers to access its delicious food. These new additions in the portfolio shall be available at all 28 outlets of QuikShef.

With such a diverse and delicious range of dishes to choose from, customers are sure to find something that will satisfy their cravings and leave them wanting more.

About Wardwizard Foods and Beverages Ltd.: Wardwizard Foods and Beverages Ltd is a BSE-listed company based in Village-Por, Vadodara, Gujarat. It is a unique food business that combines the spirit of entrepreneurship with traditional Indian flavors. Wardwizard offers an extensive range of products including frozen foods, ready-to-eat foods, beverages, spices, and condiments.

Delhi, 27th May 2023: Lizol, India’s leading disinfectant brand, and India’s leading government research agency, Council of Scientific & Industrial Research’s (CSIR) institution ‘Institute of Genomics and Integrative Biology’ (IGIB) have jointly conducted a study to analyse the presence of germs and pathogens in Indian homes. The study found a variety of germs on floors in Indian homes.

The research team studied the presence of germs in Indian households and found that floor areas across different rooms harbour illness-causing germs such as, Escherichia coli, Moraxella spp, Brevundimonas spp, Acinetobacter spp. The research also revealed that there are over 1000 types of bacteria and 200 types of viruses across surfaces in our homes. The germs identified have been responsible for diseases such as diarrhoea and conditions like skin-infections, urinary tract infections, acne, eye and bloodstream infections.

Dr. Rakesh Sharma, PhD, Chief Scientist at CSIR-IGIB, said, “The study conducted in partnership with Lizol has brought to light details of germs and pathogens found on floors in different parts of Indian homes. Further, the germs found in the study are known to be responsible for certain illnesses and hence highlighting the need to maintain clean and germ-free homes.”

Mr. Saurabh Jain, Regional Marketing Director, Hygiene, Reckitt- South Asia said, “Lizol, a leading disinfectant brand with 130-year-old global heritage, champions the cause of protecting families and keeping them illness-free. This study commissioned in Indian houses is an attempt to build healthier homes by identifying germ-related threats that exist here. Our aim is to raise awareness and educate Indian families on the benefits of adopting better cleaning and disinfection habits by using specialised cleaning solutions that provide superior germ kill than commonly used solutions, like ordinary phenyls.”

He further added, “In India, less than 20% homes use a specialized floor cleaner to mop their floors while majority use detergents or plain water which are ineffective in dirt and germ cleaning. According to recent studies, widely used phenyls were also found to be inadequate, leaving 50% germs behind after mopping^. Only specialized floor cleaners, like Lizol, with disinfecting actives like benzalkonium chloride offer enhanced cleaning & protection from germs with 99.9% germ kill on your floors every time you mop them*.”

Lizol disinfectant floor cleaners offer protection from disease-causing germs for Indian families significantly better than Phenyls, concluded an independent lab testing. Ordinary phenyls have a distinct smell that lingers and may create a false impression that they are effective at killing germs. However, recent independent lab testing has revealed that they kill only 50% germs^. The testing also identified that only 1 cap of Lizol’s superior formulation offers 99.9% Germ Kill^ and 10X Better Cleaning* vs 3 Caps Of Phenyl.

Julie McKinney, PhD, R&D Director, Microbiology and Virology at Reckitt, said, “The recently conducted study has helped us identify specific germs and pathogens that may be found on floors throughout Indian homes. Over 1000 types of bacteria and 200 types of viruses including E. coli, the most common faecal bacterium, were identified in the study. These findings highlight how important it is to adopt effective floor cleaning and disinfection practices in our daily routines. At Reckitt, we develop products with an aim to protect consumers from germs and pathogens. Lizol All-in-One Disinfectant Surface Cleaner offers 99.9% germ kill^.”

Lizol All-in-1 disinfectant surface cleaner is recommended by IMA. It is available in 7 different fragrances across India and e-commerce websites priced as low as Rs. 42/-. It is present in product packs ranging from 200ml to 5L along with value refill packs of 750ml and 1.8L.

* As per lab testing vs ordinary white phenyls

^As per lab testing done on representative bacteria on recommended dilution

***

Mumbai, 27th May 2023 Under Kotak Mahindra Bank’s (“KMBL” / “Bank”) Corporate Social Responsibility initiative, the Bank in association with Shroffs Foundation Trust (SFT) has launched Kushalta Ka Nirman – a CSR Project for skill development in Gujarat. The Bank’s CSR project, will be implemented by SFT with aim to improve livelihood and employability for the youths from tribal, rural and other marginalized communities in Gujarat and surrounding areas.

Through this CSR project, KMBL endeavors to address a skill gap in the construction industry. SFT will train youth in construction equipment to become Backhoe and Forklift operators, supporting their career advancement and creating better job opportunities.

Vinod Chauhan, Sr. Executive Vice President – Commercial Banking, Kotak Mahindra Bank Limited, “It is our constant endeavour to be at the forefront of training and development of the workforce that not only offers additional skills to benefit the individual but also uplifts the overall infrastructure industry. With Shroffs Foundation Trust as our CSR associate, we think that our contribution to the workforce can result in the development of a sizable talent pool to support the sector in Gujarat.”

The Kushalta Ka Nirman project aims to train over 100 individuals in Backhoe and Forklift Operators. Using the National Skills Qualification Framework (NSQF), the comprehensive training program will also include AV tools, Simulator, Classroom sessions and practical operations to equip individuals in future infrastructure-related projects.

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.