Tag: Business

New Delhi [India], November 16: Ingersoll Rand, a global leader in mission-critical flow creation and industrial technologies, has announced a strategic executive leadership role enhancement aimed at strengthening the company’s capabilities and advancing its long-term growth strategy. This leadership change is expected to fortify Ingersoll Rand’s mission to create value for employees, customers, and communities across India.

The Company’s Board of Directors has appointed Mr. Sunil Khanduja as the Managing Director for Ingersoll Rand (India) Limited for a five-year term from November 12, 2024, to November 11, 2029. He will be leading a complete Compression Systems & Services business in India.

Prior to this, he served as the Business Head for one of the key verticals in Ingersoll Rand India and also managed Ingersoll Rand EMEIA (Europe, Middle East, India, and Africa) Operations as Director of multiple global manufacturing locations and warehouses. In these roles, he significantly contributed to business growth, supply chain and operational excellence.

 

His strategic vision, ownership mindset, and unwavering focus on delivering results align with organizational goals to make life better for our customers and employees while maximising shareholder value.

Commenting on his appointment, Sunil Khanduja said, “Our ‘in the region, for the region’ approach is closely aligned with global Ingersoll Rand’s strategy. By focusing on local innovation and customer needs, we aim to drive growth in India while contributing to our broader organizational goals.”

About Ingersoll Rand

Ingersoll Rand is dedicated to enhancing the lives of its employees, customers, and communities through mission-critical industrial solutions. With multiple reputable brands under its portfolio, Ingersoll Rand offers cutting-edge, technology-driven expertise in flow creation that thrives in the most challenging environments. Ingersoll Rand’s commitment to productivity, efficiency, and customer service creates customers for life.

New Delhi [India], November 15: Mr. Devidas Shravan Naikare is a well-known name in both business and spirituality. He is one of India’s top coaches who teaches people how to succeed in business while also focusing on their minds and spirit. He started his own company, Devidas Group of Companies, and has become famous for mixing smart business skills with spiritual knowledge. With 17 years of experience, his work shows how combining business strategies with mental training and spirituality can lead to success. He is also the author of 12 insightful books.

Having learned from five esteemed Gurus, Mr. Naikere’s teachings are deeply rooted in spiritual growth and personal transformation. This unique combination of spiritual knowledge and business expertise allows him to coach professionals in a way that helps them grow both in their careers and personal lives.

Mr Naikare’s coaching approach is unlike traditional business training. He empowers individuals by focusing not just on business functions but also on the mental well-being of professionals. By teaching how to foster a positive mindset, he helps businesses achieve rapid and sustainable growth, with an emphasis on both the outer world of work and the inner world of peace.

Mr Naikare has been honoured with 30 prestigious national awards in his career. Some of the awards are the Young Entrepreneur Award in 2022, the Maharashtra Business Icon Award in 2023, and the Shri Mahatma Gandhi National Honor Award in 2023. These awards honor his great work in business and helping people spiritually.

For Mr. Naikare, success isn’t limited to business growth alone. He emphasises holistic development, teaching individuals how to find balance in key areas of life such as relationships, health, wealth, happiness, and mental peace. His coaching fosters transformation, guiding people towards a fulfilling and prosperous life.

In Maharashtra, Mr. Naikare’s influence is seen in various businesses, where his coaching has led to exponential growth. By helping professionals adopt efficient systems and practices, he creates a roadmap for success that goes beyond traditional business models, showing how spirituality and professional success can go hand in hand.

Mr. Naikare’s journey is not just about personal success. It’s about uplifting others and sharing his knowledge for the greater good. His teachings go beyond the business world, aiming to inspire individuals to live balanced, purposeful lives that contribute to their communities and society.

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Ahmedabad (Gujarat) [India] November 15: Asian Granito India Limited (AGL), one of the largest Luxury Surfaces and Bathware Solutions brands in the country has reported improved operational and financial performance during Q2 and H1 of FY 2024-25 ended 30^th September 2024.

Financial Highlights (Consolidated)

	Q2 FY25	Q2 FY24	Y-O-Y	H1 FY25	H1 FY24	Y-O-Y
Net Sales (Rs. Cr)	383.7	400.9	-4%	726.9	735.7	-1%
EBITDA (Rs. Cr)	15.6	21.1	-26%	32.2	36.3	-11%
EBITDA Margin (%)	4.1%	5.3%	-120 bps	4.4%	4.9%	-50 bps
Net Profit (Rs. Cr)	4.7	-2.8	268%	5.0	-6.3	179%
Net Profit Margin (%)	1.2%	-0.7%	190 bps	0.7%	-0.9%	160 bps

Consolidated Highlights: – Q2FY25 Results

The Company has reported a consolidated net profit of Rs. 4.7 crore for the Q2FY25 ended 30^th September 2024 as compared to the net loss of Rs. 2.8 crore for Q2FY24. Consolidated Net sales of the company in Q2FY25 was reported at Rs. 384 crore as against net sales of Rs. 401 crore in Q2FY24. EBITDA for Q2FY25 stood at Rs. 15.6 crore (EBITDA Margin 4.1%) as against EBITDA of Rs. 21.1 crore (EBITDA Margin 5.3%) in Q2FY24, decline 1.2% Y-o-Y. Exports for the Q2FY25 was reported at Rs. 77 crore, rise of 26% Y-o-Y as compared to export of Rs. 61 crore in Q2FY24.

Commenting on the results and performance, Mr. Kamlesh Patel, Chairman and Managing Director said, “Despite challenges like raw material cost fluctuations, export policies and intense competition impacting the business and margins, company has reported satisfactory set of numbers for Q2 and H1 FY25. We are steadfast on our commitment to achieve total revenue of Rs. 6,000 Crores. Strategic initiatives like the AGL demerger, focus on retail presence, showroom expansion and the appointment of Ranbir Kapoor as brand ambassador demonstrate the company’s strong commitment to growth and its aspiration to become a global brand.”

Financial Highlights (Standalone)

	Q2 FY25	Q2 FY24	Y-O-Y	H1 FY25	H1 FY24	Y-O-Y
Net Sales (Rs. Cr)	322.7	341.4	-5%	600.0	634.1	-5%
EBITDA (Rs. Cr)	10.1	20.6	-51%	23.3	36.5	-36%
EBITDA Margin (%)	3.1%	6.0%	-290 bps	3.9%	5.8%	-190 bps
Net Profit (Rs. Cr)	2.2	8.4	-74%	6.9	14.1	-51%
Net Profit Margin (%)	0.7%	2.5%	-180 bps	1.2%	2.2%	-100 bps

Standalone Highlights: – Q2 FY25 Results

The Company has reported a standalone net profit of 2.2 crore for Q2 FY25 ended 30^th September 2024 as compared to the net profit of Rs. 8.4 crore in Q2FY24. Standalone net sales for the second quarter of FY24-25 reported de-growth of 5% to Rs. 323 crore as against net sales of Rs. 341 crore in Q2 FY23-24. EBITDA for Q2 FY25 stood at Rs. 10.1 crore (EBITDA Margin 3.1%) as against EBITDA of Rs. 20.6 crore (EBITDA Margin 6.0%) in Q2 FY24.

Pursuant to the National Company Law Tribunal order dated 25 October 2024 company has conveyed meeting of equity shareholders on 17 December 2024 for the purpose of considering, and if though fit, approving the proposed Composite Scheme of Arrangement amongst Asian Granito India Ltd and Affil Vitrified Pvt Ltd, Ivanta Ceramics Industries Pvt Ltd, Crystal Ceramic Industries Ltd, Affil Ceramics Ltd, Ivanta Ceramic Ltd, Crystal Vitrified Ltd, Amazoone Ceramics Ltd and AGL Industries Ltd and their respective Shareholders and Creditors. Company had earlier received “No Objection” letter from stock exchanges – Bombay Stock Exchange and National Stock Exchange for the proposed demerger.

Company board on 15 October by way of passing circular resolution has approved allotment of 47.14 lakh equity shares on conversion of an equal amount of warrants at an issue price of Rs. 48.15 per share (including a premium of Rs. 38.15 per share) to person belonging to the Promoter / Promoter- Group Category, on preferential basis, upon receipt of the amount aggregating to Rs. 17.02 crore. On 8th October, company board allotment of 77.82 lakh equity shares on conversion of an equal amount of warrants to person belonging to non-promoter group at Rs. 48.15 per share upon receipt of the amount aggregating to Rs. 28.10 crore. Promoter Group holding in the company as on 15 Oct 2024 stands at 29.80%.

With its in-house manufacturing capacity and robust R&D team, the company has recently launched a new range of 60 products in kitchen and bathware to its extensive catalogue thereby expanding their SKUs.  The company has established a 0.66 million pieces per annum cutting-edge tech plant at Morbi, Gujarat for bathware products, marking a significant shift from third-party sourcing to internal manufacturing.

Business Highlights

• Exports for Q2 FY25 at Rs. 77 crores; Exports for H1 FY25 at Rs. 127 crores
• Meeting of equity shareholders on 17 December for the purpose of considering, and if though fit,
  approving the proposed demerger amongst Asian Granito India Ltd and other entities
• Approved allotment of 47.14 lakh equity shares to promoter group and 77.82 lakh equity shares to
  non-promoter group on conversion of equal amount of warrants at an issue price of Rs. 48.15 per
  share
• Company recently launched a new range of 60 products in kitchen and bathware expanding SKUs
• Company signed renowed Bollywood star Ranbir Kapoor as brand ambassador and launched
  campaign “Premium ka Pappa”
• Company signed renowed Bollywood actress Vaani Kapoor for its Bonzer7 brand

Highlights: – H1FY25 Results

For the six months ended September 2024 (H1FY25), on the consolidated basis, company has reported a net profit of Rs. 5.0 crore, EBITDA of Rs. 32.1 crore and net sales of Rs. 727 crore.

On Standalone basis, the company has reported a net profit of Rs. 6.9 crore, EBITDA of Rs. 23.3 crore and net sales of Rs. 634 crore.

About AGL

Established in the year 2000, AGL has emerged as India’s leading Luxury Surfaces and Bathware Solutions brand in a short span of two decades. The Company manufactures and markets a wide range of Tiles, Engineered Marble and Quartz, Bathware and Faucets. AGL products are synonymous with reliability, adaptability, innovation, quality consciousness and the company has created a strong brand identity, well recognized globally and loyal customer following across segments. Today it is 4^th largest listed ceramic tile company in India with Strength of more than 400 field force.

Ranked amongst the top ceramic tiles companies in India, AGL has achieved over 65 times growth in its production capacity, from 0.83 Million Sq. Mtrs. Per Annum in FY 2000 to 54.5 Million Sq. Mtrs. Per Annum in FY 2023. AGL is also the only tiles company to be acknowledged in the Vibrant Gujarat Summit 2015 for achieving phenomenal growth.

The Company has 14 state-of-the-art manufacturing units spread across Gujarat and 277 plus exclusive franchisee showrooms, 13 company owned display centres across India. Further, the Company has an extensive marketing and distribution network pan India with 18,000 plus touchpoints including distributors, dealers and sub-dealers in India. The company also exports to more than 100 countries.

The Company looks to strengthen its identity as the leader in the Indian ceramic industry by consistently introducing innovative and value-added products in the market to keep pace with its valued customers. Headquartered in Ahmedabad, AGL is listed on NSE & BSE and reported net consolidated turnover of INR 1530.6 crore in FY 2024. (For more information, please visit: www.aglasiangranito.com)

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New Delhi [India], November 15: As India undergoes rapid urbanisation, gated communities have become increasingly popular for their secure, community-focused environment. However, rapid urbanisation is also leading to challenges to the safety and security of the residents. The onus of such safety, especially from outsiders, falls on the shoulders of society’s management. Susheel Agarwal, Founder of Ethika Insurance broking, emphasises the need for specialized insurance policies tailored for gated communities to address such challenges and ensure a safe, harmonious living environment.

“India is transforming into an urban society, and gated communities offer a secure lifestyle that resonates with urban residents. However, they also bring complex needs that traditional insurance policies struggle to meet,” says Susheel Agarwal. “At Ethika, we have developed insurance solutions along with multiple insurance companies designed specifically for the evolving requirements of such communities. Our solutions ensure the protection of not only the residential areas but also the common ones. More importantly, we have tailored solutions that can protect the society’s management.”

Addressing the Unique Needs of Gated Communities

Unlike individual homeowners, gated communities require policies that cover common spaces, infrastructure, and shared assets. Traditional insurance products often fail to address issues arising from shared ownership, such as liabilities arising in common areas, unexpected damage, and heightened security risks due to rising crime rates in urban neighborhoods. Ethika’s approach provides comprehensive protection that encompasses all aspects of community living, mitigating potential risks and ensuring peace of mind for residents.

Susheel Agarwal explains, “Our solutions extend beyond the standard policies. We aim to cover every facet of a gated community’s needs, including liability coverage for the community’s management, protection for shared assets like clubhouses and pools, personal accident coverage for security staff and employers liability for the community’s management. Our vision is to ensure that the communities we serve can focus on thriving without worrying about unexpected setbacks.”

Solutions to Common Challenges in Gated Communities

One pressing issue is liability in shared spaces. Accidents in common areas, disputes over property damage, and injuries involving maintenance staff or third-party vendors can become complicated legal and financial challenges. Ethika’s insurance solutions address these liabilities by covering potential disputes and legal costs, ensuring smooth resolution for the community.

Furthermore, Ethika offers customizable insurance plans that address the unique concerns of each gated community, such as natural disaster protection, fire insurance, group health insurance and personal accident insurance for staff. By offering specialized plans, Ethika enables communities to tailor their coverage to align with specific needs and budgets.

An Urban Shift in Living, A New Standard in Security

India’s move towards urban living has accelerated the adoption of gated communities. With this shift comes a greater demand for robust risk management. Ethika’s comprehensive insurance offerings ensure that residents feel safe, and community management can confidently address challenges without risking financial losses.

“Our goal is not just to provide insurance but to foster a peaceful, well-protected environment where community residents and management teams feel supported,” Agarwal adds. “Ethika’s specialized policies are designed to bring real value to gated communities, enabling them to flourish in a rapidly urbanizing India.”

About Ethika Insurance Broking Pvt. Ltd.

Susheel Agarwal founded Ethika on a commitment to ethical, customer-first insurance practices; Ethika Insurance Broking has emerged as a leader in providing customised insurance solutions across India. By offering innovative and flexible coverage plans, Ethika continues to redefine insurance, making it accessible and meaningful for a diverse range of clients, including gated communities, corporations, and individual customers.

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Kochi (Kerala) [India], November 14: KLM Axiva Finvest Limited has announced the Company’s eleventh public issue of secured redeemable Non-Convertible Debentures (NCDs) with a face value of ₹1000. The base issue size of the public issue size is ₹5000 lakhs with an option to retain oversubscription up to ₹5000 lakhs, aggregating up to ₹10,000 lakhs. The NCD issue opened on Thursday, 14th November 2024, and will be closed on Thursday, 28^th November 2024.

The NCDs offer ten different investment options for individual investors to choose from. Effective yield for various investment options is ranging from 9.92% p.a. to 11.30% p.a. The face value of NCDs is ₹1000, with multiple investment tenures ranging from 400 days to 79 months, and the minimum investment amount is ₹5,000.

Investors can apply for NCDs through the company’s branches and the BSE online platform. Application forms are available at https://klmaxiva.com/ncd. All investors proposing to participate in the public issue of NCDs of KLM Axiva Finvest Limited should invest only based on information contained in the Prospectus. Please see the section entitled “Risk Factors” beginning on page 18 of the Prospectus for risk in this regard.

“Entire funds raised through the NCD will be utilized for onward lending, financing, and repayment/prepayment of principal and interest on existing borrowings and general corporate purposes “, said Mr. T. P. Sreenivasan, Chairman, of KLM Axiva Finvest Ltd.

Kindly contact us at +91-9961033333 for any further information regarding the Public Issue.

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Surat (Gujarat) [India], November 14:  KP Energy Limited, Gujarat’s leading Balance of Plant (BOP) solutions provider for wind and wind-solar hybrid projects, celebrated a significant milestone today with its listing on the mainboard of the National Stock Exchange (NSE). The occasion marks a new chapter for KP Energy as the company steps onto a larger platform to drive sustainable growth and play a central role in India’s renewable energy revolution.

Notably, at the time of the bell-ringing ceremony at NSE, the stock debuted at Rs. 541.00 and reached Rs. 544.90 in the next session.

The listing ceremony, held at SEICC’s Platinum Hall, Surat, witnessed a gathering of prominent stakeholders, industry leaders, and investors, underscoring the company’s prominent position in India’s renewable energy landscape. KP Energy’s journey, from its founding in 2010 to this remarkable event, showcases its unwavering commitment to innovation, sustainability, and excellence in wind and hybrid power solutions.

“We are immensely proud to celebrate KP Energy’s listing on the NSE,” said Dr. Faruk G. Patel, Managing Director of KP Energy. “This milestone is more than a financial achievement; it’s a reflection of our dedication to empowering India with clean, sustainable energy. It also highlights the confidence our partners, investors, and the government have in our mission to build a greener future.”

KP Energy’s listing on the NSE aligns with its rapid growth trajectory. The company reported a consolidated Profit After Tax (PAT) of ₹43.1 crore for the first half of FY25, representing an 84% year-over-year increase. With a robust project pipeline of nearly 2 GW, the company is well-positioned to expand its operations and meet the growing demand for renewable energy in India.

Mr. Affan Faruk Patel, Whole-Time Director of KP Energy, addressed the audience, expressing gratitude to all stakeholders. “This listing is a testament to our collective commitment to innovation and sustainability. We are honoured by the trust placed in us by our investors and partners, and we pledge to continue delivering on our promises, fostering growth, and creating lasting value for all,” he said.

KP Energy’s portfolio boasts over 866 MW renewable energy project energized to date, along with a 520+ MW projects under its operations and maintenance (O&M) purview. The company is also pioneering advancements in technology, including the deployment of LIDAR technology and a centralized Network Operations Center (NOC) to ensure optimal performance and reliability of its renewable energy assets.

As KP Energy embarks on this new phase, the company is positioned to lead India’s transition to renewable energy, supporting the nation’s commitment to reducing carbon emissions and building a sustainable, clean energy ecosystem.

The event was graced by KP Group’s brand ambassador and T-20 Delhi Capitals bowling coach, Munaf Patel, along with Bollywood actors Aditya Pancholi and Sooraj Pancholi. Additionally, Gujarat’s Minister of Forest, Environment, and Climate Change, Mukesh Patel, attended the ceremony, offering his best wishes and highlighting the government’s commitment to renewable energy initiatives.

 

For further information, please visit www.kpenergy.in or contact us at info@kpenergy.in.

About KP Energy Limited: 
Founded in 2010, KP Energy Limited is Gujarat’s premier BOP solutions provider, specializing in wind and wind-solar hybrid projects. The company offers comprehensive, end-to-end solutions across engineering, procurement, construction, commissioning, and operations for utility-scale renewable energy projects. KP Energy successfully listed on the BSE SME Platform on 25th February 2016 and later migrated to the BSE Main Board on 10th October 2018. The Initial Public Offer (IPO) was ₹6.44 crores. As of 5th November 2024, the company boasts a market capitalization of ₹4,232 crore and the company falls under the Top 1000 companies listed on BSE as on March 31, 2024.

About KP Group: Founded in 1994 by Dr. Faruk G. Patel, KP Group has grown to become a highly respected conglomerate in India. Originally established as a logistics service provider, the group has expanded over the years into diverse sectors, achieving cumulative commissioning of 1.37+ GW of renewable energy projects & 3.4+ GW Renewable Energy Orders in hand. We are well on track to achieve 10GW target by 2030.

With more than 30 years of successful operations, KP Group now comprises multiple companies, each playing a vital role in its steady and dynamic growth. In the past decade, KP Group has experienced remarkable growth through strategic diversification into fabrication and galvanizing, renewable energy (solar and wind), and telecom infrastructure. Key entities within the group include KPI Green Energy Limited, KP Energy Limited, KP Green Engineering Limited, and KP Human Development Foundation. Through its expansion in renewable energy, KP Group continues to support India’s industrial progress and economic development, aligning with the nation’s push for sustainable growth in solar and wind energy.

Surat (Gujarat) [India], November 14: BrahmVeda Ventures, an AI-focused venture studio with a mission to build transformative AI-powered businesses, has completed the acquisition of Vedvaani, a pioneering Astro AI app, through a landmark cash and equity deal. Vedvaani has made its mark by blending traditional astrological insights with state-of-the-art AI technology, delivering personalized predictions and habit-building features to its users. This strategic acquisition reflects BrahmVeda’s dedication to harnessing artificial intelligence as a disruptive force to revolutionize industries and deliver impactful, consumer-driven solutions.

Founded by three visionary entrepreneurs – Vipul Kapoor, Nachiket Patel, and Kashyap Pandya – BrahmVeda Ventures is shaping the future of AI innovation by merging AI brilliance with entrepreneurial energy.

Vipul Kapoor, Co-founder of BrahmVeda Ventures, shared his excitement about the acquisition: “We are thrilled to bring Vedvaani into the BrahmVeda family. This acquisition is an essential step in our journey to build ventures that leverage the full power of AI, delivering meaningful and accessible solutions to consumers.”

Rushabh Agarwal, Founder of Vedvaani, reflected on the transition and the future: “It has been an incredible journey building Vedvaani and watching it grow. BrahmVeda’s recognition of the value in what we’ve created validates the potential of this platform.”

Nachiket Patel, Co-founder of BrahmVeda Ventures, emphasized the long-term vision for Vedvaani: “Vedvaani’s distinct Astro AI platform presents an extraordinary opportunity to revolutionize astrology by making it more personalized, predictive, and accessible to a global audience. We look forward to scaling the platform, enhancing its capabilities, and enriching users’ lives with AI-powered spiritual insights.”

Kashyap Pandya, Co-founder of BrahmVeda Ventures, spoke on the venture studio’s growth model: “At BrahmVeda, we actively identify opportunities and validate startup ideas, leveraging our in-house tech team’s expertise to develop cutting-edge AI products. Once the MVP is ready, we take the product to market, providing the necessary expertise, network, and resources to grow the business.”

As BrahmVeda continues to expand its portfolio, the acquisition of Vedvaani reinforces the venture studio’s commitment to developing cutting-edge AI solutions. BrahmVeda aims to accelerate Vedvaani’s growth, enhancing the app’s reach and delivering personalized Astro AI insights to a global audience.

This acquisition comes at a time when India’s AstroTech sector is gaining significant attention from investors. In May, online astrology platform Astrotalk secured INR 110 Cr ($14 Mn) through a mix of primary and secondary funding. That same month, Noida-based astrotech startup InstaAstro raised INR 18.5 Cr ($2.3 Mn) in a Pre-Series A round led by existing investor Artha Venture Fund. In September, Melooha, an Astro SaaS Platform, raised $635,000 in an angel round. The Indian astrotech market, currently valued at approximately INR 30K Cr ($4 Bn), is projected to grow to INR 50K Cr ($6.5 Bn) by 2025.