Tag: Business

Kolkata (West Bengal) [India], April 26: Mr. Madan Mohan Mohanka, Chairman of TEGA Industries, was conferred the Lifetime Achievement Award at the prestigious CMA Management Excellence Awards 2025 in association with The Telegraph.

In recognition of his visionary leadership, transformative contributions to the Indian manufacturing sector, and his lifelong commitment to excellence in management, Mr Madan Mohan Mohanka was honoured with this award.

The Lifetime Achievement Award was presented to Mr. Madan Mohanka by Mr Indranil Banerjee, Vice President, Calcutta Management Association & Mr Sidhartha Roy, former President, Calcutta Management Association and CEO of Response India.

Organized annually by the Calcutta Management Association (CMA)—an affiliate of the All India Management Association (AIMA)—the CMA Management Excellence Awards celebrate exemplary contributions in the field of management across various categories including Business Leadership, Corporate Leadership, Innovation Excellence, Emerging Leader, Public Service, and Lifetime Achievement.

Speaking at the event, CMA dignitaries highlighted Mr. Mohanka’s pivotal role in building TEGA into a world leader in specialized industrial products, with a presence in over 70 countries. His journey as the founder and chairman of TEGA Industries is an inspiring story of entrepreneurial foresight, global expansion, and a values-driven business ethos.

In his speech to the audience, Mr Mohanka emphasized that The Calcutta Management Association (CMA) has a unique opportunity to drive real change by focusing more actively on empowering women through management education and inclusive workplace practices.

He said : “  While CMA’s work with corporate managers is commendable, it’s equally important to reach young women—especially those in high school and early college—who have little exposure to the world of management. Introducing them to leadership concepts through relatable stories and films can spark early interest and confidence. At the same time, true inclusion goes beyond employment. With caregiving still disproportionately falling on women, workplaces must offer support systems like professionally-run childcare facilities for children aged 1 to 12. This ensures women can grow professionally without compromising family responsibilities. Studies show that when women are part of the decision-making process, outcomes improve—thanks to their collaborative approach, long-term thinking, and emotional intelligence. Gender diversity, then, isn’t just about fairness; it’s about smarter, more effective leadership. CMA can champion this change—helping women become not just managers, but transformative leaders.”

Mr. Mohanka’s early education began in a ‘pathshala’ with a tin shed and a mud floor with just  two teachers. Through his hard work and grit, he gained a degree in  Civil Engineering from Birla Institute of Technology, Mesra and is from the 1967 MBA batch from Indian Institute of Management Ahmedabad. IIM A also conferred upon him the Distinguished Alumnus Award on the occasion of the Golden Jubilee Celebrations of the Institute.

His contribution to Management education has been beneficial to students across generations. Mr Mohanka has shared 15 case studies for teaching at IIM Ahmedabad and it is of great pride to note that 7 have been accepted by Harvard Business School. He has also been instrumental in establishing a Case Centre in IIM Ahmedabad for promoting management writing , research and teaching methodologies.

In 2023, A biography on Mr Mohanka’s life ‘I Did What I Had To Do’ by Anjana Dutt was released by Shri Narayana Murthy and Mr Mohanka has also authored a book on his mentor Professor Extraordinaire on his guru and teacher Prof V L Mote, a venerable acamadecian at IIM Ahmedabad.

Mr. Mohanka expressed his heartfelt gratitude to CMA for the honour, dedicating the recognition to his team at TEGA, his mentors, and his family. He spoke about the evolving role of leadership in today’s dynamic business environment and emphasized the importance of innovation, resilience, and values in building institutions that last.

The evening brought together leading names from industry, academia, and the management fraternity, reinforcing CMA’s commitment to fostering excellence and thought leadership in management practices across the region.

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RIL Dividend 2025: Reliance Industries Limited (RIL) has formally proposed a dividend of ₹5.50 per share for the fiscal period FY2024–25, showcasing its unwavering commitment to enhancing shareholder value. Furthermore, the corporation has announced plans to raise up to ₹25,000 crore through non-convertible debentures, indicative of its strategic financial flexibility.

The Reliance Industries dividend, which requires shareholders’ approval, is set to be distributed after the upcoming Annual General Meeting.

RIL’s board has graciously approved the issuance of debentures, aiming to strengthen its balance sheet and support sustainable business expansion. This thoughtful move reflects the company’s ongoing commitment to disciplined capital management and a long-term vision for growth.

Reliance Industries Limited reported a commendable performance for the fourth quarter, with a net profit (pre-minority interests) reflecting an increase of 6.4% year-on-year, driven by its digital and retail sectors. The net profit attributable to the shareholders rose by 2.4% to ₹19,407 crore, surpassing market expectations of ₹18,820 crore. Despite a lacklustre performance in the energy sector, the substantial contributions from Jio and Reliance Retail reaffirmed the group’s diversified resilience.

This dividend announcement highlights how RIL is committed to its strategy, ensuring clear financial stewardship, and demonstrates confidence in its growth journey. The planned fundraising through debentures reflects the group’s dedication to maintaining consistency and transparency in its capital planning—truly an aspect of its operational excellence!

#Reliance | Reliance Industries Limited has named Anant M. Ambani, youngest son of Chairman Mukesh Ambani, as a whole time Director for a five-year term starting 1st May, 2025@KaveriGupta3 | #AnantAmbani #MukeshAmbani #RelianceIndustries pic.twitter.com/g1P9g2r02Y

— News18 (@CNNnews18) April 26, 2025

Investors and market observers await further information regarding the Annual General Meeting (AGM) and the timeline for the dividend, which will be communicated in due course.

As the highest-valued company in India continues to expand in key sectors, this news reinforces its commitment to shareholder returns, trust, and long-term alignment with the country’s growth.

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New Delhi [India], April 26: The aviation sector of India has experienced a significant transformation, propelled by the UDAN scheme—Ude Desh ka Aam Nagrik. Launched in 2016, this initiative was designed to democratise aviation, thereby making air travel accessible to the general populace, which was previously considered a luxury.

As the UDAN Scheme commemorates eight groundbreaking years, it stands as a testament to inclusive growth, linking tier-2 and tier-3 towns through affordable air travel.

With 625 routes in service and 90 airports, including heliports and water aerodromes, UDAN has carried over 1.49 crore passengers, making travel more accessible than ever for our citizens! This initiative has truly kickstarted development in areas that were previously unconnected. At the heart of this remarkable scheme is its Viability Gap Funding model, supported by a wonderful teamwork among the central government, state governments, and airport operators.

“Aviation was once considered the domain of a select few, but that has changed now with the advent of UDAN. My dream is to see a person who wears a ‘hawai chappal’ to fly on the ‘hawai jahaz’.”

– Prime Minister, Shri Narendra Modi

Projects such as UDAN Yatri Cafes, seaplane operations, and the Krishi UDAN scheme for farmers exemplify the dynamic and citizen-centric nature of the initiative. The revamped UDAN program is, however, poised to introduce 120 new destinations with a target of 40 million new passengers, emphasising a particular focus on aspirational districts as well as the North-East region of India.

UDAN isn’t just about aviation—it’s really about our trust in the government, a clear vision for the future, and aligning with what citizens hope for. It emphasises discipline, focus, and a commitment to continuity, ensuring that every single Indian is taken care of, even when soaring at 30,000 feet!

As India rises, so do its people—one flight at a time.

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New Delhi [India], April 24: Cisco, in partnership with Nasscom Foundation, felicitated ten winning student-led start-ups from the 7th cohort of its CSR initiative, thingQbator, at the Neovation 2025 event. Chosen from over 1,367 submissions through a rigorous shortlisting process, these promising teams have turned their innovative ideas into working prototypes and scalable ventures. The event also brought together a distinguished panel of corporates, thought leaders, academia, and industry experts to felicitate innovations aimed at addressing critical societal challenges in areas like healthcare, waste management, transportation, household IoT, and public infrastructure.

• An initiative designed to spark innovation and cultivate an entrepreneurial mindset among students through relevant technologies
• The program, now in its 7th cohort, had a participation of 3734 young students, with the top 10 teams receiving INR 5 lakh each in seed funding at the felicitation event

Designed to empower young innovators, thingQbator provides a platform where college students across the country, especially in tier 2 and tier 3 cities are mentored to turn their ideas into prototypes and viable businesses. This virtual maker space program, held at various partner universities, offers students hands-on experience with digital technologies. It enables them to transform their ideas into working prototypes and devise localized solutions to community problems.

A total of 3,734 students participated in cohort 7 across India, showcasing a strong spirit of innovation. All 1,367 ideas progressed to the ideation stage, reflecting the creative depth across campuses. From these, 125 teams comprising 343 students advanced to the prototyping stage, receiving dedicated mentorship. With 1,233 mentoring hours delivered, students refined their ideas into impactful, tech-driven solutions addressing real-world challenges.

Harish Krishnan, Managing Director and Chief Policy Officer, Cisco India and SAARC, said, “India’s innovation landscape is at an inflexion point, driven by the convergence of technology and purpose. The future of social innovation here holds immense promise—and at Cisco, our purpose of powering an inclusive future for all is deeply aligned with this vision.. We take immense pride in supporting this transformation through initiatives like thingQbator, which provides students with the tools, mentorship, and platform to turn bold ideas into scalable solutions. Through programs like this, we aim to nurture ideas by empowering young innovators. I am very proud of the innovations showcased by the winning teams today and extremely excited at the prospect of their success as they step forward to solve real-world problems using technology and purpose.”

Jyoti Sharma, CEO, Nasscom Foundation, commented, “India is witnessing a remarkable surge in innovation, driven by the passion and creativity of the young minds. Through our continued partnership with Cisco, initiatives like thingQbator are not just nurturing ideas but shaping future entrepreneurs who are committed to building impactful solutions for real-world challenges. It is truly inspiring to see how student-led innovations are translating into scalable ventures, reinforcing the belief that with the right guidance and opportunities, our youth can lead the charge in shaping a better, more inclusive future.”

The top 10 teams with the best solutions felicitated at the Neovation 2025 include:

• Ad Aqua (Surendranath College, Kolkata): Aimed at making water accessible for all by integrating advertisements on packaging while addressing SDGs like Clean Water and Sanitation (SDG 6) and Responsible Consumption (SDG 12).
• Riverant (Amrita Vishwa Vidyapeetam, Coimbatore): Focused on cleaning polluted rivers using IoT-integrated robotics, aligning with SDGs like Climate Action (SDG 13) and Life Below Water (SDG 14).
• FindFake (Vivekanand Education Society’s Institute of Technology, Mumbai): Developed a deepfake detection platform to combat misinformation, supporting SDGs like Peace and Justice (SDG 16).
• Demcare (JNU, Delhi): Created a dementia-tracking device to improve healthcare outcomes, addressing Good Health and Well-being (SDG 3).
• IntelliFlow Vital Tracker (REVA University, Bangalore): Designed a real-time patient monitoring system to enhance healthcare delivery in resource-constrained settings.
• Novel Air Quality Sensing (Vivekanand Education Society’s Institute of Technology, Mumbai): Developed an optical particle counting device using IoT-enabled CMOS camera microchips to measure particulate matter levels. The solution aligns with SDGs 3, 8, 9, 10, 11, 12, and 13, offering a cost-effective way to monitor air pollution.
• Tranquil (VIT, Vellore): An AI-powered mental health support platform offering instant therapy and coping strategies to address mental health struggles. This project aligns with SDGs 3, 5, 8, 10, and 17.
• Water Your Plant from Anywhere (University of Lucknow): A smart irrigation system using IoT and cloud computing to enable remote watering of plants, contributing to SDGs 9, 11, 12, and 13.
• Where is My Bus (MLRIT, Hyderabad): A real-time bus tracking system designed for college transit networks in India, improving accessibility and efficiency using HTML, CSS, JS, and Leaflet technology.
• Plant Microbial Fuel Cell-KIT (Kalaignar Karunanidhi Institute of Technology, Coimbatore): A sustainable energy solution leveraging plant-microbe electrochemical interactions to provide decentralized, eco-friendly electricity. This project aligns with SDGs 7, 12, 13, and 15.

Through its inception in 2018, the Cisco thingQbator initiative has trained over 10262 students, aiming to shift their mindset to innovators. Over the years, with 5351 hours of mentoring, the program has led to the development of 409 prototypes, with 63 teams already registered or incubated at start-up accelerators. At its core, the initiative empowers students to craft innovative solutions for real-world challenges, fostering design thinking, community problem-solving, and essential go-to-market skills.

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Ahmedabad (Gujarat) [India], April 23: Kretto Syscon Limited (BSE Code: 531328), a diversified player in real estate and information technology sectors, will announce its audited financial results for the fourth quarter of 2024-25 and the full fiscal year on April 24.

Incorporated in 1994 and headquartered in Ahmedabad, Kretto Syscon has steadily expanded its footprint in residential and commercial real estate sectors, while also expanding its software and IT services portfolio.

The company’s shares have surged by 40% from Rs. 1.45 per share to Rs. 2.13 in recent quarters. On Tuesday, the stock touched a 52-week high of Rs. 2.15, trading at approximately 22 times the EPS of Rs. 0.09, reflecting growing investor confidence. The company’s market cap stood at more than Rs. 116 crores.

Kretto Syscon posted a robust profit of Rs. 5.83 crore in the second quarter of financial year 2024-25, followed by Rs. 1.83 crore in the third quarter, demonstrating resilience despite market challenges. Analysts expect the fourth quarter performance to remain consistent and expect the stock to continue to attract investor interest in the small-cap segment.

As Kretto Syscon continues to focus on innovation, transparency, and long-term value creation, it remains poised for future growth in both its core sectors.

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Ahmedabad (Gujarat), India, April 24: Adani Energy Solutions has reported a remarkable 79% increase in its consolidated net profit for the fourth quarter compared to the previous year, achieving a total of ₹647 crore, in contrast to ₹361 crore during the corresponding quarter last year.

The impressive performance highlights the company’s commitment to operational excellence and thoughtful execution throughout its energy infrastructure platform. By consistently prioritising transparency, integrity, and financial responsibility, Adani Energy is beautifully strengthening its position in India’s power and transmission sector.

Adani Energy Solutions reported 79% growth in its consolidated net profit at Rs 647 crore in the fourth quarter, compared with Rs 361 crore in the same quarter last year.https://t.co/91Bc0bYWLD

— ETMarkets (@ETMarkets) April 24, 2025

The expansion is attributed to a confluence of enhanced revenue generation, optimised asset utilization, and strategic investments that are presently yielding substantial returns. 

This development is consistent with the organisation’s long-term vision to promote sustainable energy solutions and to make significant contributions to the growing energy demands of India.

As a pivotal entity within the Adani Group, the fourth-quarter performance of Adani Energy Solutions exemplifies the overarching philosophy of the group, which emphasises the integration of business objectives with national growth agendas.

The company prioritises scalability, consistency in performance, and an open governance model that fosters investor confidence.

In considering future prospects, Adani Energy will be poised to further leverage its extensive infrastructure platform and technical expertise to generate additional value for stakeholders, all while maintaining its commitment to a people-first and performance-oriented ethos.

Disclaimer: The views expressed in this release are those of the author and do not reflect the official policy or stand of PNN Digital. While we strive for accuracy, the information is for general informational purposes only and may be subject to change.

• The company received Town Planning Clearance, Land Registration, Gram Panchayat approval and the Non-Agricultural order for setting up an AAC plant on the acquired land.
• The company acquired 57,500 square meters of land for expansion for Rs. 6 crore to strengthen the company’s presence in Madhya Pradesh and nearby regions.
• StarBigBloc is targeting Rs. 428 crore revenues by FY27–28, with a projected EBITDA of Rs. 125 crore and net profit of Rs. 80 crore.

Surat (Gujarat) [India], April 24: StarBigBloc Building Material Ltd, a wholly-owned subsidiary of BigBloc Construction Limited, one of the largest manufacturers of Aerated Autoclaved Concrete (AAC) Blocks, Bricks and ALC Panels in India has received all key approvals for its upcoming project in Indore, Madhya Pradesh. These include Town Planning Clearance (TPC), Land Registration, Gram Panchayat approval, and the Non-Agricultural (NA) order for the acquired land. With these clearances in place, the company is set to establish India’s largest greenfield AAC Blocks manufacturing facility at the proposed site, marking a major milestone in its expansion strategy and reinforcing its leadership in the sustainable building materials space.

Earlier in Feb 2025, the company acquired approximately. 57,500 sq. mts. land at Khasra No. 382, 387, 389/2, Gram Nimrani, Tehsil Kasrawad, District – Khargone, Madhya Pradesh for the purpose of AAC Blocks business expansion in central India. The total consideration for the land deal is Rs. 6 crores and Stamp duty. The company aims to build India’s largest greenfield facility for AAC blocks at the site.

StarBigBloc Building Material Ltd currently operates a manufacturing facility in Kheda, near Ahmedabad, with an installed capacity of 250,000 cubic meters per annum. This plant effectively caters to a broad market, covering major parts of Gujarat and extending its reach to Udaipur in Rajasthan and Indore in Madhya Pradesh. In the third quarter, the company achieved a healthy capacity utilization of 75%. With plans underway for capacity expansion, StarBigBloc is poised to strengthen its footprint across Madhya Pradesh and neighboring regions.

Mr. Mohit Saboo, Director and Chief Financial Officer, Bigbloc Construction Ltd, said, “We are happy to receive all the necessary approvals for the new plant in Madhya Pradesh and plan to start the work on the same soon. The AAC block industry is set to play a pivotal role in India’s construction sector, and our company is ready for a significant leap forward. The proposed expansion in Indore, Madhya Pradesh aligns with our growth strategy, focusing on geographic expansion, R&D investments, product diversification, and strategic branding and marketing initiatives to enhance visibility, increase market share, and strengthen stakeholder trust.”

BigBloc Construction Ltd has recently diversified into the construction chemicals segment, launching a range of high-demand products including Block Jointing Mortar, Ready Mix Plaster, and Tile Adhesives. Strengthening its presence in this space, the company introduced NXTGRIP Tile Adhesives, complementing its well-established NXTFIX and NXTPLAST brands. These products are engineered to deliver enhanced bonding, durability, and performance — aligning with the company’s commitment to innovation and quality in building solutions.

In May 2024, the Board of Directors of StarBigBloc Building Material Ltd approved a proposal to raise funds through an SME IPO or Preferential Issue, subject to necessary approvals and prevailing market conditions. The proposed fundraising will support the company’s ambitious expansion plans, aimed at increasing its production capacity from the current 250,000 cubic meters per annum to over 1.2 million cubic meters per annum over the next 4–5 years. As part of its growth roadmap, the company is targeting revenues of Rs. 428 crore by FY27–28, with a projected EBITDA of Rs. 125 crore and net profit of Rs. 80 crore. For FY23–24, StarBigBloc reported revenues of Rs. 94.18 crore, reflecting a strong CAGR of over 21% over the past four years — underlining its consistent growth and operational strength.

About BigBloc Construction Ltd

Incorporated in 2015, BigBloc Construction Ltd is one of the largest and only listed AAC block manufacturer in India, with a 1.3 million cbm annual capacity across plants in Gujarat (Kheda, Umargaon, Kapadvanj) and Maharashtra (Wada). The company, which markets its products under the ‘NXTBLOC’ brand, is one of the few in the AAC industry to generate carbon credits. With over 2,000 completed projects and 1,500+ in the pipeline, The company’s clients include Lodha, Adani Realty, IndiaBulls Real Estate, DB Realty, Prestige, Piramal, Oberoi Realty, Tata Projects, Shirke Group, Shapoorji Pallonji Group, Raheja, PSP Projects, L&T, Sunteck, Dosti Group, Purvankara Ltd, DY Patil, Taj Hotels, Godrej Properties, Torrent Pharma, GAIL among others.

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