Category business

Bengaluru, May 10th, 2023: Embarking on its journey to become a billion-dollar company by the end of December 2024, NIBAV Home Lifts, India’s largest home lift brand, today announced the expansion of its India-made home lift manufacturing operations. The company has announced the launch of its fourth manufacturing facility, spread across 50,000 Sq.Ft. and located in Akkarai on ECR – Chennai, which will accommodate new state-of-the-art home elevator production equipment with the world’s most advanced technology. The additional manufacturing capacity will allow NIBAV to increase the supply of its Indian-made European standard home lifts to 14 foreign countries, while India continues to be a primary market.

NIBAV Home Lifts also announced its ongoing recruitment plans of adding over 4,500 employees by the end of December 2023, taking the total headcount to 6000. While expanding the company’s ECO network (Experience Centre and Office) in India and worldwide will drive most of this recruitment, the newly opened high-tech corporate office, four manufacturing facilities, and 2 R&D centers in Chennai will also be further strengthened with the addition of the industry’s best talent pool.

Commenting on the occasion, Mr. Vimal R. Babu, CEO and Founder of NIBAV Home Lifts said, “Right from its inception in December 2019, NIBAV Home Lifts has seen strong business growth. While we have grown from the sales value of Rs. 150 crores in 2021 to Rs. 400 crores in 2022, we have already crossed the product sales milestone of 1000 lifts in Q1 of this calendar year 2023. Our international expansion started in the year 2022, is proof that we can deliver exactly what homeowners need when it comes to in-home mobility solutions, and we are confident that the new manufacturing unit will accelerate the company’s growth in the global home lift segment too. With the demand for in-home mobility solutions increasing worldwide and the growing preference for Indian-made products, we are aiming to emerge as the number one home lift-selling brand in the world by December 2024 and mark our entry into a billion-dollar revenue club in a more meaningful manner.”

Commenting on the recruitment plans, he added, “We have been witnessing a great customer demand for NIBAV’s home elevators not just in India but from countries such as Canada, Switzerland, Australia, Malaysia, Thailand, and elsewhere. To cater to this demand, we have already strengthened our core HR team and are now in the process of on-boarding a global staffing firm to welcome over 4500 industry-best minds joining the NIBAV family. With over 6000 NIBAVians by the end of the current calendar year 2023, we will further establish our market leadership in countries with the largest number of older adults and stay committed to enhancing the in-home mobility experiences for homeowners by providing the world’s best and safest Indian-made home lifts.”

As part of these two announcements at a press conference, NIBAV Home Lifts also unveiled its latest home elevator product – SERIES 3 MAX. The SERIES 3 MAX lift is the world’s largest in-home lift product that covers G+3 with a capacity of 240 KG and is designed with enhanced safety features, improved energy efficiency, and a sleek, modern design. With this new product, NIBAV Home Lifts is setting a new standard of excellence in the industry, and customers can look forward to a superior user experience.

Engineered to European standards, NIBAV has been installing pneumatic in-home elevators that transformed the quality of life in every home – allowing homeowners to embrace the sustainable eco-friendly home lift, safely enter and exit for those using a wheelchair or walking frame, those wishing to travel with loved ones, affected by a reduction in mobility, recovery from a medical procedure, retirement, disability or suffering with severe asthma. Nibav’s patented home elevators use less power than conventional hydraulic systems and with industry-leading features such as Zero Civil Work, Self-Supporting Structure, Grease Less Technology, and Wheelchair Compatibility.

Mumbai, 08 May 2023: EaseMyTrip.com, one of India’s largest online tech travel platforms, has today launched its first offline retail store in Patna, Bihar. This is a strategic move aligned with the company’s expansion plans and objective of tapping customers who prefer ‘meet and greet’kind of an experience.

As the brand is keen to spread its footprints and scale its operations, the new office has been launched in the prime location of Maharaja Kameshwar Complex on Frazer Road in Patna. The store interior is made keeping in mind the latest designs including brand colours to have a solid customer’s brand recall. The store will offer marque services like flight and hotel bookings, purchasing bus, train and group fare tickets, and availing holiday, cruise and charter packages. The add-on services of visa application and related formalities will also be offered by EaseMyTrip’s Patna store.

Speaking on the same, Mr. RikantPittie, Co-Founder, EaseMyTrip, said, “We are happy to officially launch our first store in Patna as we intend to establish a strong pan India presence through our franchise model. This is one of the significant steps in long-term objective of expandingfootprintsin the Indian market.”

Early this year, the company announced establishing offline retail stores under their flagship franchise business in India. The store launch in Patna is a part of this strategy and will help the company provide the customers an opportunity to have an in-store retail experience.

Gurugram: The DLF Club5 was abuzz with excitement as the theatrical production, “Play It Right,” brought the age-old tradition of storytelling to life. This satirical play portrayed a comedic outlook on the world of adults through the eyes of teenagers. Co-directed by Aditya Singh and Vaanya Ohri, the play was based on the book “Play it Right” written by Vanessa Ohri. Aditya and Vaanya are senior students of The Shri Ram School, Moulsari branch and, with Play It Right, they are combining their love and passion for theatre with a desire to support underprivileged children battling with cancer.

The funds raised for the event were directly donated to CanKids KidsCan, the National Society for change for childhood cancer in India. The evening witnessed an enthusiastic turnout of art and culture lovers enjoying the play and supporting the cause. With more than 200 registrations, the initial goal of 5 lakhs was easily met and donated to the cancer treatment organization. The fundraiser is still active for another 20 days and the children hope to raise an even greater amount. The talented cast of pre-teens and teens of age group 7-17 years from various schools in Delhi and Gurugram enthralled the audience by delivering a captivating performance and immersive storytelling.

The young directors Aditya Singh and Vaanya Ohri said, “We are thrilled with the success of ‘Play it Right’ and the overwhelming support we received from the community. It has been very gratifying to be associated with this very meaningful cause especially since the event raised not only financial support but also awareness about the treatment of childhood cancer and encouraged more people to make a difference.”

The event was a memorable evening of entertainment, showcasing the power of art to bring people together for a good cause and was an excellent representation of the art of storytelling and a beautiful reminder of the power of theatre to entertain, educate and inspire.

8 May 2023, Dubai, UAE: In its 127th edition, Mahzooz, the UAE’s favorite weekly draw with the biggest and most frequent pay-outs, was crowned the ninth GUARANTEED winner of AED 1,000,000, as part of its recently launched prizes and saw 1,159 participants take home AED 1,487,750 in prize money.

While the top prize of AED 20,000,000 went unclaimed this week, 27 participants matched four out of the following five numbers 23, 32, 35, 37, 49 and shared the second prize of AED 200,000, earning AED 7,407.40 each. 1,131 other winners matched three out of five numbers and received AED 250 each.

As part of Mahzooz’s revamped prize structure, where one lucky participant becomes a guaranteed millionaire every week, the 127th draw awarded Shahabaz from India, holding the raffle ID number 33929708, the guaranteed raffle prize of AED 1,000,000.

While the new prizes have become bolder and better, the rules of participation remain the same and will now be exclusively offered through the Saturday Mahzooz draw, held live at 9.00pm. For only AED 35, participants can purchase a bottle of Mahzooz water, and enter the weekly draw consisting of the Grand Draw, for a chance to win the new top prize of AED 20,000,000 and the new weekly Raffle Draw, which will grant AED 1,000,000 every week to a GUARANTEED millionaire-to-be.

Mahzooz means ‘lucky’ in Arabic and is the UAE’s favourite draw that offers participants a life-changing opportunity to win millions every week. Mahzooz is dedicated to making people’s dreams come true and giving back to the community.

Doodling, an age-old form of human expression, has captivated minds for centuries. Whether etched on a humble napkin or intricately sketched within the pages of a sketchbook, doodling offers a medium for us to convey our thoughts, emotions, and experiences creatively and profoundly. Embracing this art form as a way of life is Atul Kabra, the visionary behind Doodle Kabra.

At the onset of the pandemic, like many of us, Atul found himself confined to his home, yearning for meaningful ways to fill the passing hours. Instead of surrendering to the temptations of binge-watching television or endlessly scrolling through social media feeds, Atul resolved to channel his creativity into a productive endeavour. Armed with a pen, he embarked on a journey of doodling.

Initially, it was simply a pastime, an avenue for personal amusement. However, as Atul continued to breathe life into his creations, he discovered that his doodles were far more than mere lines and shapes on paper—they were narratives. They conveyed tales of people’s lives, chronicled their experiences, encapsulated their passions, and illuminated their dreams.

Thus, Doodle Kabra came into existence. Atul began sharing his doodles on social media platforms, and before long, a wave of admiration ensued. People marvelled at how a seemingly unassuming sketch could capture the very essence of their lives, evoking sentiments in such an extraordinary and profound manner.

Celebrities and influential figures were among the first to be enraptured by Atul’s doodles, commissioning him to create artistic interpretations that mirrored their journeys. From the esteemed Chief Justice of Telangana to renowned actors such as Rana Daggubati and Allu Arjun, Atul’s work has managed to touch the hearts and souls of individuals from all walks of life.

However, Atul’s mission extends beyond the creation of exquisite artwork. His ultimate goal is to inspire individuals to recount their own stories through the power of doodling. Consequently, he has taken his passion to schools, where he imparts the skill of self-expression through doodling to students.

For Atul, doodling is not merely a hobby; it is a way of life. It serves as a medium to forge connections with others, comprehend their experiences, and share their narratives with the world.

If you seek an extraordinary and profound means of capturing your life story, look no further than Doodle Kabra. Atul’s artistic genius and unwavering dedication to storytelling ensure that your doodle will transcend its role as a mere drawing and become a poignant reflection of your very essence.

As Atul aptly remarks, “The pen is mightier than the sword.” With Doodle Kabra, you hold the power to wield the pen, illuminate your own story, inspire others, and create a lasting legacy that will be cherished for generations to come.

Mumbai, May 8, 2023:Wardwizard Innovations and Mobility Ltd., one of India’s leading manufacturers of electric two-wheelers under the brand ‘Joy e-bike’, is continuing its aggressive network expansion to bring electric mobility closer to customers. As a part of its restructuring of the distribution-dealer model, the company has inaugurated an exclusive distributor showroom in Jaipur today. Operating under the banner of Dreams EV World, this showroom represents the company’s first step towards strengthening relationships with taluka-level dealers.

The Distributor Showroom Dreams EV World is located at Mangalam Radiance Airport Plaza, Jaipur, Rajasthan. The distributor is equipped with complete sales and service facilities with an area of 3,500 sqft to facilitate the brand’s outreach in the state.It has been designed to offer a complete range of low- and high-speed electric two-wheelers and three-wheeler, as well as the latest offerings such as the MIHOS electric scooter and the Joy e-rik, the first three-wheeler from the company. The showroom provides customers with an immersive one-of-a-kind experience and showcases the brand’s commitment to innovation and quality.

Commenting on the network expansion in the region, Mr. YatinGupte, Chairman and Managing Director- WardWizard Innovations and Mobility Ltd said,“We are thrilled to announce the opening of our Joy e-bike Distributor Showroom in Jaipur, Rajasthan under the banner of Dreams EV World. This showroom isa part of the first phase of our new distributor model. Our goal is to build stronger relationships with our taluka-level dealers and enhance supply chain efficiency for our distributors and dealers nationwide. The Joy e-bike Distributor Showroom in Jaipur is a cutting-edge facility equipped with top-of-the-line sales and service resources, delivering a comprehensive buying and service experience to customers in the region. Our commitment to providing superior customer service and creating a seamless ownership experience has propelled us to introduce this new model. We are excited about the opportunities it presents and look forward to expanding our network of Distributor Showrooms across the country in the near future.”

The company recently announced its plans to restructure its distribution-dealer model by establishing 150 ‘Distributor Showrooms’ at the district level. This move is aimed at strengthening its relationships with taluka-level dealers, facilitating efficient supply chain management for distributors and dealers, and improving vehicle accessibility for customers. With over 600 touchpoints in the country, the establishment of new distribution models aims to elevate high-performing taluka dealers to the position of District Distributors.

Mumbai, 08 May 2023: TCNS Clothing (TCNS), India’s leading women’s ethnic focused fashion player, today announced that it has entered into definitive agreements for combining with ABFRL, India’s leading fashion & apparel company, and a part of the Aditya Birla group. The transaction entails combination of TCNS into ABFRL and will be carried out through – (1) Acquisition of the founding promoter’s stake through a SPA and a conditional public open offer followed by (2) Merger between the two entities.

The value of the promoter stake and open offer consideration for TCNS is ~ Rs. 1650 Crores for 51% stake, making this one of the largest deals in the Indian fashion space.

Mr. Onkar Singh Pasricha, Chairman and Executive Director of TCNS, commented “This deal marks a true milestone for our company and its stakeholders. Under the support and guidance of ABFRL, TCNS will surely achieve even greater heights of success and excellence. We are happy that we have been able to pass on our legacy to one of the most prestigious and respected groups – one that is known for its values, ethics, corporate governance and employee empowerment. We believe that all stakeholders of TCNS will benefit immensely from this landmark transaction.”

Speaking on the transaction, Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “This deal is yet another marker of the Aditya Birla Group’s faith in the dynamism and buoyancy of the Indian consumer economy. As India stands on the cusp of a multi-decadal consumption boom, ABFRL is a forerunner in shaping the fashion landscape of our vibrant nation. For ABFRL, the TCNS deal is indeed a significant milestone as it complements our existing portfolio of exceptional brands across the entire spectrum of Indian fashion. By embracing TCNS’s portfolio of loved women’s ethnic brands, we are reinforcing our commitment to ethnic wear, the largest category in the apparel industry. With this acquisition, the fast-growing ABFRL platform is poised for the next phase of transformational growth.”

Over the years, TCNS has evolved into a leading women’s branded apparel company with proven playbook of multiple brand creations and seamless execution across multiple channels.

Commenting on the acquisition, Mr. Ashish Dikshit, Managing Director, ABFRL said, “As young Indians identify a new-found confidence in their identities woven around Indian culture and heritage, the next set of leading consumer brands will be built in the Indian ethnic wear space. TCNS, through its brands W, Aurelia, Wishful & Elleven, is catering to the Indian women’s fashion needs across markets and price points. Each of these brands have been built over a long period of time and enjoy tremendous consumer love. This transaction is the pivotal piece of our ethnic strategy and marks the culmination of our stated intent of building India’s most comprehensive ethnic wear portfolio.”

Mr Anant Daga, Managing Director of TCNS said, “TCNS has been a pioneer in branded women’s ethnic wear market in the country. Over the last 20 years, we have built India’s most successful women’s franchise on the back of our leading brands. The market continues to offer long-term growth opportunities and our partnership with ABFRL will help us fully realize this potential. ABFRL’s proven brand- building capability, distribution strength and strong ecosystem of partners will help our brands into its next phase of growth and profitability.”

Credit Suisse acted as the exclusive financial advisor and Shardul Amarchand Mangaldas & Co acted as the legal advisors for the transaction. Grant Thornton acted as independent valuer for TCNS while ICICI Securities provided the Fairness Opinion to the Board of TCNS.

Transaction Structure

As part of the transaction, ABFRL will make a conditional open offer to acquire up to 29% stake at Rs. 503 per share from public shareholders and acquire the remaining stake from the founder promoters to reach an overall shareholding of 51% in TCNS. Pursuant to the above, TCNS will be amalgamated with ABFRL under the merger scheme wherein public shareholders of TCNS (as on effective date) will receive 11 shares of ABFRL for every 6 shares that they hold in TCNS.

The transaction is subject to customary regulatory approvals including approvals from the Competition Commission of India, SEBI, Stock Exchanges, and National Company Law Tribunal.

Hyderabad, May 8, 2023: Zen Technologies Limited, a Hyderabad-based leading manufacturer of sensor and simulator technology-based defense Training systems, Drones, and Anti- Drones solutions with a proven and impeccable track record in building training systems for imparting defense training and measuring combat readiness of security forces has announced its financial results for the Q4FY23.

FY23 Vs FY22 (Consolidated)

•  Total Income stood at Rs. 22609.37 lakhs in FY23 as against Rs. 7,513.07 lakhs in FY22.
•  Revenues from operations were reported at Rs. 21884.63 lakhs as compared to Rs. 6,975.24 lakhs in FY22; up by 213.75%
•  Earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) stands Rs. 7985.86 lakhs in FY23, as against Rs. 994.68 lakhs in FY22. The Company’s EBITDA margin stood at 35%.
•  Profit Before Tax (PBT) stood at Rs. 6972.66 for FY23 as compared to Rs. 358.28 lakhs in FY22. The Company’s PBT margin stood at 31.86%.
•  Profit After Tax (PAT) increased to Rs. 4997.08 lakhs crores in FY23 as against Rs. 260.97 lakhs in FY22. The Company’s PAT margin stood at 23%.

Commenting on the results, Mr. Ashok Atluri – Chairman and Managing Director, said, I am pleased to share an update on our performance in Q4FY23. Continuing on the strong start to the year, we have further gained momentum in Q4FY23, where both of our business verticals, AMC and Equipment, have reported growth. As previously committed, we recorded the highest revenue in the history of ZEN TECHNOLOGIES. We also secured new orders of worth ₹141.67 crores during the quarter. We have strong order book of ₹473 crores and expecting good growth in coming quarters.We appreciate your continued support and look forward to updating you on our future progress.

Bengaluru, 8th May 2023: Gandhian Centre for Philosophical Arts and Sciences, MAHE organised a two-day unique exhibition, ‘Neyge’ which showcased special talks, documentary screenings, and workshops on Udupi sarees. The exhibition was held at Gandhian Centre, Manipal on 5th and 6th May and was inaugurated by Mrs. Indira Ballal, Philanthropist, at Gandhian Centre, MAHE. Mrs. Mamata Rai, President Kadike Trust, was the Guest of Honour, and Dr. HS Ballal, Pro-Chancellor MAHE, presided over the inauguration ceremony. This was followed by documentary screenings and event also included an exhibition of Udupi sarees, a photo exhibition, a history corner, a Yakshagana Corner, and a sale of Udupi sarees by the weavers.

As a part of the Gandhi-King Exchange initiative, Neyge was launched by the U.S. Department of State’s Bureau of Educational and Cultural Affairs. The exhibition of Udupi Sarees aims to bring attention to the significance of sustainable fashion and conversations about conscious consumption.

Speaking about the inauguration, Dr. HS Ballal, Pro-Chancellor, MAHE commented, “This was an attempt to bring Udupi sarees which are close to the philosophy of nature, to the younger generation. We are proud to provide a platform that brought different scholars, academicians, and weavers together to share their ideas and promote sustainable fashion.”

Chief Guest, Mrs. Indira Ballal, Philanthropist said, “Reviving sustainable fashion is a challenging task. It was a delightful experience to be a part of the support system and bringing this closer to the younger generation.”

Mrs. Mamata Rai, President Kadike Trust said, “I am extremely proud to be a part of the movement that aims to combat environmental impacts such air pollution, water pollution, and climate change being caused by the fast fashion.”

Gandhi-King Fellowship has been awarded by the Bureau of Educational and Cultural Affairs, USA. The ultimate goal of the Gandhi-King Fellowship is to inspire and develop a network of aspiring young civic leaders from India and the USA to work together to advance civil rights, social justice, and inclusion locally, nationally, and internationally by exploring the history and legacies of Mahatma Gandhi and Dr. Martin Luther King, Jr. Lavanya N K, who is an alumna of GCPAS, MAHE and Roydon, a commerce graduate from Mumbai are the two recipients of Gandhi-King Fellowship who participated in the training program held at University of Alabama in 2022.

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Hyderabad, May 8, 2023.…. One of the biggest challenges and opportunities in corporations is to grow leadership beyond leaders said Prabir Jha, a Civil Servant turned India’s one of the top HR Professionals. Delivering a keynote address on “Enabling Organisational Effectiveness Today” at the HR Conclave organised by FTCCI (Federation of Telangana Chambers of Commerce and Industry) in the city at Hotel Park Hyatt Prabhir Jha said you can not solve pediatric problems with geriatric solutions. The new-age problems need new-age solutions. If the purpose of people doesn’t match the purpose of the business in the organization, how do you connect? The salaried job people when they get paid in dollars obviously, jump. It is very important to build a culture of collaboration.

Building effective alignment is very important. He talked about change, structure, cultural innovation, leadership etc. Policies no doubt are important. But they should not be mere guidelines. They should be about enablement. Private organisations shouldn’t work like government institutions. Bureaucracy in fact is a killer. Innovation is key to organizational effectiveness. Innovation only comes when you are willing to disrupt your old practices. Power distance is a problem in most organizations for innovation. Talk of innovation should go beyond products, services, business, supply chain, and HR/ Finance models. We should include innovations within ourselves. How much do we innovate in ourselves, our mindsets and our leadership styles? Without that there is no true breakthrough, he said.

Speaking about culture as one of the key elements of organizational effectiveness, he asked is your culture enabling your effectiveness? Culture doesn’t have to be handcuffed. It is an industry norm that the misfit in the culture is not hired. But, that shouldn’t be the case. We need people who think differently. And that is how you will ensure diversity. If you want to transform the company start with people’s agenda he told.

The problem with most of us is we just think the way we always thought. We must hire people better than us. You must hire more intelligent and smarter than you.

Dysfunctional leadership teams easily wreck the best strategic aspirations. Individuals may be great but collectively they fail. Imagine the cost of having such a team at the top! Unimaginable? Intervene before it is too late, he told.

Prabhir Jha gave 8 leadership commandments for Organisational Effectiveness such as 01. Stay genuine and authentic, 02. Challenge Conventional Wisdom; 03. Keep the flock together, 04. Construct meaningful jobs, 05. Build empathy and connect 06. Bring in inspiration, inclusion and innovation, 07. Upgrade your culture and 08. Grow leadership beyond leaders.

Speaking on the occasion, Sri R. Chandra Shekaram Joint Commissioner of Labour Govt of Telangana said the meaning of industrial relation is changed drastically over the period of time. Today all the stakeholders expect relations to be balanced, mutually respectable and trustworthy. The companies which contribute by way of taxes and a partner in the growth story of the government command respect. The Governments encourage industries. Then only the region can prosper. The human element must be given importance in this relationship he said.

Giving a welcome address Anil Agarwal, President of FTCCI said the theme of the conclave “Empowering organizational effectiveness covering People Management, High Performance, Industrial Relations and Effective Future Leaders” is apt and relevant to the current context as we are working towards achieving $5 trillion economy target by FY 2026 and 2027. But the way things are, I have a feeling that we may cross that milestone even earlier. Recently I was in Chennai and astonished to know that the state of Tamil Nadu put its target as 1 trillion and if all the states compete for economic growth with each other we can easily achieve even 10 trillion. HR is a very important function. It is the backbone of our economy. All organizations must have strong HR functions. HR can play a significant role by creating a culture of empowerment, he said.

HR is no longer merely an administrative job. It is much more. There is strong HR backing behind every successful company. If any company wants to grow, it must put HR in the forefront, said R. Ravi Kumar, Chairman of the HR & IR(Human Resources and Industrial Relations) Committee of FTCCI.

The other speakers of the day-long conference include Mr F Israel Inbaraj, Head-HR Compliance, Adani Group, Ahmadabad. He spoke on Achieving Organizational Effectiveness through sound Industrial Relations. He said there are no laws to protect productivity. But how do you ensure productivity? It can only happen through organisational effectiveness through sound Industrial relations.

;Sri Rajorshi Ganguli, President and Global HR Head, Alkem Laboratories Ltd, Mumbai spoke on Nurturing Future Leaders. Sri Mohan R. Sharma Managing Partner, Thought Leaders Academy, Hyderabad spoke on Coaching for High Performance and Mr Arun Leslie George Executive Vice President & Head of Retail Business, Coromandel International Ltd, Hyderabad talked about People Management for Business Development

A panel discussion on Innovation and Digital Transformation in Industry. The panelists were Sri B S Murthy Director, IIT Hyderabad and Mr Saravana Janardhanan, Director of Plant Operations, Schneider Electric India Pvt ltd.

In a changed work environment, leadership serves a variety of purposes in ensuring the smooth operation of an organization. Effective people management practices help in empowering employees, enhance their skills and abilities, maintain a positive work environment, facilitate collaboration and teamwork, foster employee engagement and retention and drive optimal performance observed the speakers.