29, Apr 2025
Sonata Unveils ‘Sonata Gold’ Watches This Akshaya Tritiya, Redefining Gold Gifting
Chandigarh, 29 April 2025 – Sonata, India’s most loved watch brand, introduces Sonata Gold – a stylish and thoughtfully crafted collection that reimagines the way we experience gold. At the intersection of form and function, Sonata Gold presents a bold new way to wear your love for gold – not just as a tradition, but as a personal style statement.
With Akshaya Tritiya, a time associated with prosperity and positive beginnings, just around the corner, Sonata Gold offers a refreshingly modern take on gold gifting. Each timepiece in this collection features a genuine 0.15g 22K Tanishq Gold Coin set into its dial, a gleaming detail that speaks volumes about craftsmanship, legacy, and design.
This collection is perfect for those who appreciate the finer details, from the sleek case design to the contrast of a lacquered high-polish black dial with the embedded gold coin, and a genuine leather strap that adds a touch of quiet sophistication.
Speaking on the new offerings, Mr. Prateek Gupta, Brand Head at Sonata, said, “Sonata Gold isn’t just a watch – it’s an experience. We wanted to create something that feels premium, timeless yet trend-forward. These watches are for those who value design – a subtle yet strong expression of gold, for yourself or for someone you love.”
- 0
- By Team
29, Apr 2025
Financial Results Announced for Quarter and Year Ended March 31, 2025
Key Highlights of the Results -Q4FY – 2024-25
|
Business Highlights
- Total Business grew by 14.12% Y-o-Yto Rs. 5,13,527Crore as on 31.03.2025 from Rs. 4,50,007 Crore as on 31.03.2024.
- Total Deposits increased by 11.56% Y-o-Y basis to Rs. 2,93,542 Crore as on 31.03.2025 from Rs. 2,63,130 Crore as on 31.03.2024.
- Gross Advances grew 17.72% Y-o-Y to Rs. 2,19,985 Crore as on 31.03.2025 as against Rs. 1,86,877 Crore as on 31.03.2024.
- RAM (Retail, Agri & MSME) business stood at Rs.1,22,613Crore as on 31.03.2025as against Rs.97,516Croreas on 31.03.2024, registering a growth of 25.74% Y-o-Y basis.
- Retail Advances stood at Rs. 54,255 Crore as on 31.03.2025 as against Rs .40,161 Crore as on 31.03.2024 registering a growth of 35.09%Y-o-Y basis, backed by growth in Home loan and Vehicle loan portfolio which registered a growth of 18.13% and 58.99% respectively on Y-o-Y basis.
- Agriculture Advances stood at Rs. 29,575 Crore as on 31.03.2025 as against Rs. 24,641 Crore as on 31.03.2024, showing a growth of 20.02% Y-o-Y basis.
- Advances to MSME sector stood at Rs. 38,783 Crore as on 31.03.2025 as against Rs. 32,714 Crore as on 31.03.2024, registered a growth of 18.55% Y-o-Y basis.
- Business per employee improved to Rs.24.35Croreas on 31.03.2025 as against Rs.20.93Crore for the same period of preceding year.
- Operating Profit for the quarter ended 31.03.2025 stood at Rs. 1,699 Crore registering a growth of 33.48% Y-o-Y basis as against Rs. 1,273 Crore for the same period of preceding year. For the year ended March 2025, Operating Profit has grown by 31.92% to Rs. 6,037C rore as against Rs. 4,576 Crore for the year ended March 2024.
- Net Profit for the quarter ended 31.03.2025 stood at Rs.652Crore as against Rs.526Crore for the same period in the preceding year, registering a growth of 23.98% Y-o-Y. Net profit stood at Rs. 2,445 Crore for the year ended March 2025 showing a growth of 47.80% Y-o-Y as against Rs. 1,654 Crore for year ended March 2024.
- Net Interest Income (NII) for the quarter ended 31.03.2025 stood at Rs. 2,698 Crore registering a growth of 23.35% Y-o-Y basis as against Rs. 2,187Crore for the same period of preceding year. For the year ended March 2025, Net Interest Income(NII) grew by 18.88% Y-o-Y basis to Rs. 9,630 Crore as against Rs. 8,101 Crore for the year ended March 2024.
- NIM for the year ended March 2025 stood at 3.08% as against 2.92% for the year ended March 2024..
- Earning per share improved to Rs. 2.04 as on 31.03.2025 as against Rs. 1.38 as on 31.03.2024.
Asset Quality
- Gross NPA improved to 2.69 % as on 31.03.2025 as against 3.46% as on 31.03.2024, registering an improvement of 77 bps Y-o-Y.
- Net NPA improved to 0.50 % as on 31.03.2025as against0.89% as on 31.03.2024, registering an improvement of 39 bpsY-o-Y.
- Provision Coverage Ratio stood at 96.69% as on 31.03.2025.
Dividend
- Dividend @ 3.90% (i.e @ 39 paise per equity share) is proposed for the year 2024-25.
Branch Network
- As on 31.03.2025 Bank hada network of 3302 domestic branches and 2 overseas branches each at Hong Kong and Singaporeand 1 Representative Office in Iran. Out of the total branches, Bank has 2031 (61%) branches in rural & semi-urban areas. Bank has 2522 ATMs and 10653 BC Points making the total number of 16480 touch points as on 31st March 2025.
29, Apr 2025
TVS Credit reports highest ever PAT of Rs. 767 Crore for the year ended March’25, PAT growth of 34%
Chennai, 29 April 2025: TVS Credit Services Limited, one of India’s leading NBFCs, announced its financial results for the fourth quarter and financial year ended March 31, 2025. The Company reported a Total Income of Rs. 1,674 Crore for Q4 FY25, a growth of 10% from Q4 FY24 and Net Profit After Tax of Rs.226 Crore for Q4 FY25, a growth of 53% from Q4 FY24.
FY2025 Performance Highlights:
- AUM at Rs. 26,647 Crore in FY25, a 3% increase compared to FY24.
- Total Income for FY25 was Rs. 6,630 Crore, a 14% growth compared to FY24.
- Profit Before Tax for FY25 was Rs. 1025 Crore, a 35% increase compared to FY24.
- Net Profit After Tax amounted to Rs. 767 Crore for FY25, a 34% increase compared to FY24.
In Q4 FY25, the industry witnessed moderation in the growth of credit following the festive surge in Q3. TVS Credit maintained its strategic focus on building a diversified book, primarily targeting consumer finance and retail segments. The Company took a risk calibrated approach and focused on chosen customer segments particularly in Consumer Loans and Vehicle Finance. During this period, TVS Credit disbursed loans to over 13 lakh new customers, bringing its total customer base to nearly 1.9 crore.
TVS Credit will continue to focus on steady growth by increasing market penetration and share, expanding product offerings and distribution, driving digital transformation, and enhancing customer experience and operational efficiency.
Item | Q4FY24 | Q4FY25 | Growth % | FY2024 | FY2025 | Growth % |
AUM | 25,900 | 26,647 | 3% | 25,900 | 26,647 | 3% |
Total Income | 1,519 | 1,674 | 10% | 5,795 | 6,630 | 14% |
Profit – Before Tax | 196 | 301 | 54% | 762 | 1,025 | 35% |
Profit – After Tax | 148 | 226 | 53% | 572 | 767 | 34% |
29, Apr 2025
Strong Strategy Fuels 26 Percent PBT Surge to 108.3 Crore in FY25 as Bank Marks 5 Years of Profit
Navi Mumbai, 29 April 2025 – Fino Payments Bank Limited (NSE: FINOPB | BSE: 543386) today announced its financial results for the fourth quarter and full year ended 31 March 2025. The Bank reported robust growth across its digital, annuity, and deposit verticals, underpinned by platform scalability, sustained customer acquisition, and effective technology optimisation.
Key Highlights
- First Payments Bank to maintain consistent profitability for five consecutive years (Q4 FY’20 – Q4 FY’25)
- FY’25 revenue at ₹1,847 crore, in line with guidance, reflecting 25% YoY growth
- High-margin CMS and CASA products contributed 38% to the revenue in FY’25
- Digital (UPI) transactions volume crossed 288 crore in FY’25 up 80% over FY’24
- Bank clocked over ₹1,260 crore transactions on a daily basis in FY’25 thereby demonstrating a record annual throughput of ₹4.6+ lakh crore, registering 29% YoY growth
Financial Highlights
Particulars
(₹ 000 crore) |
Q4’25 | Q4’24 | YoY Growth | FY’25 | FY’24 | YoY Growth |
Throughput | 130.6 | 102.8 | 27% | 461.0 | 358.5 | 29% |
Digital Throughput | 74.9 | 42.9 | 75% | 225.5 | 132.6 | 70% |
Segment-wise Highlights
Digital Momentum
- Digital throughput rose 70% YoY to ₹225,482 crore in FY’25
- Contributed 1.62% of national UPI transaction volume in Q4’25
- Digital payments revenue grew 4.2x YoY to ₹390 crore
Customer Ownership
- Customer base reached 1.43 crore, a 30% YoY increase
- 33+ lakh new accounts opened during FY’25. (Over 9,000 accounts opened everyday)
- Average deposits rose 37% YoY to ₹1,849 crore.
- Strong liability franchise augurs well to mobilise low cost deposits and explore future growth opportunities, including Small Finance Bank transition
- CASA renewal income reached ₹190 crore, up 48% YoY
- ~ 53 lakh customers digitally active in Mar’25 setting base for higher balances and renewal revenue.
CMS (FY’25)
- Client base expanded to 230, a 11% YoY increase
- CMS throughput grew 24% YoY to ₹83,451 crore
Technology Update
-
- Invested over ₹ 150 crore+ in FY’25, will continue to invest in superior technology.
- Core banking platform (CBS) migration to Finacle is progressing as planned and is expected to be completed by Q1’26
- UPI: Handled ~1 crore daily transaction volume in Q4’25
Management Commentary
Rishi Gupta, MD & CEO, said:
“FY’25 has been a transformational year for Fino. Our endeavour to position ourselves as a leading digital player is reflected in our growth. Leveraging our technology-enabled network and digital ecosystem has been our mantra for sustainable growth. Our diligent customer centric approach enhances our long-term vision of monetising our customer base. Importantly, our strategic focus on customer ownership, digital-first approach, continuous innovation and exploring value creating avenues is at the core of our commitment to inclusive growth and profitability.”
Ketan Merchant, CFO, added:
“We delivered on our revised guidance of 25% YoY (5% up from earlier guidance of 20%) growth in topline and remain focused on creating long-term shareholder value with discipline and agility. Our sustained performance has made Fino the first payments bank to remain profitable for five consecutive years. Our continued focus on the highly profitable digital segment has delivered exceptional results, with digital now contributing 21% to the total revenue – exceeding our expectations in FY’25.”
29, Apr 2025
Q1’25 Hiring Trends: Apna Reports 1.8 Cr Job Applications and Major Upswing in Female Talent
Mumbai, 29th April 2025: India’s job market is surging ahead with renewed momentum in 2025, as revealed by Apna’s latest “India at Work – Q1 2025” report. The platform witnessed a record-breaking 1.81 crore job applications, a 30% increase from the previous year, reflecting India’s growing economic optimism and digital hiring boom across sectors.
Women’s participation in the workforce soared, with over 62 lakh applications—a 23% year-on-year jump. Notably, applications from women for enterprise roles doubled, marking a 92% surge. This growth was most pronounced in Tier 2 and 3 cities such as Chandigarh, Indore, and Jamshedpur, driven by flexible work options, gender-inclusive hiring, and expanded opportunities in sectors like BPO, finance, and HR.
Freshers also powered India’s employment engine, contributing over 66 lakh applications—a 46% YoY increase. With companies increasingly recruiting from beyond metro cities, emerging talent hubs like Rajkot, Warangal, and Meerut are now part of the mainstream hiring narrative.
On the supply side, Apna saw 3.1 lakh job postings, up 26% from Q1 2024. SMBs led the charge, posting over 2.1 lakh jobs, including 28,547 roles exclusively for women. Enterprise hiring rose sharply with companies like LIC, Paytm, Delhivery, and Flipkart creating over 1 lakh openings, expanding recruitment beyond metros and tapping into the national talent pool.
Reflecting on India’s evolving workforce, Nirmit Parikh, Founder & CEO of Apna, shared: “When we launched Apna, we weren’t just building a jobs platform — we were building a movement to unlock access for every Indian, regardless of their pin code or past experience. In Q1 2025 too, we witnessed this vision materialize in ways we had always hoped for. From Delhi to Dehradun, Surat to Samastipur, we saw hiring become truly decentralized. Tier 2 and Tier 3 cities contributed over 40% of new users, with many of them showing double-digit growth in job applications. Applications from women for enterprise roles didn’t just rise, they saw a 92% leap. Fresher applications crossed 66 lakh. Enterprises scaled hiring into non-metro regions, and SMBs emerged as the largest job creators — not just in metros, but across 900+ cities. The hiring process itself is evolving too — with AI now matching candidates faster, improving conversion rates, and empowering job seekers to prepare smarter. We’re seeing people find not just any job, but the right job — faster than ever before. In just one quarter, over 1.81 crore job applications were submitted on Apna. That’s not just a statistic — it’s 1.81 crore stories of determination. From Tier 1 metros to the most remote Tier 3 towns, India is not just working — India is winning. And Apna is proud to be enabling that revolution.”
India’s digital transformation continues to gain momentum, particularly in Tier 2 cities, where the demand for advanced tech talent is soaring. In Q1 2025, Apna recorded a remarkable 65.4% increase in job postings for Software/Web Developer roles, alongside a 42.2% rise in fresher applications for these positions compared to the previous year. This surge highlights the growing need for specialized professionals in fields such as AI/ML, cybersecurity, business intelligence, and data-driven operations, as enterprises in these regions expand their digital capabilities.
While traditional tech hubs like Delhi-NCR, Bengaluru, and Mumbai maintain their dominance, cities such as Indore, Jaipur, Lucknow, Rajkot, and Warangal are rapidly emerging as key players in the tech hiring landscape. These cities have experienced a 30-50% year-on-year growth in tech job applications, driven by increased access to engineering talent, certifications, and stronger digital infrastructure. The rise of remote-first work models has further enabled these cities to tap into a broader pool of tech professionals.
With India’s digital economy on track to reach $1 trillion by 2030, the shift toward decentralized tech talent hubs is gaining momentum. Tier 2 and Tier 3 cities are no longer just participating in India’s tech revolution — they are at the forefront of driving the country’s digital future, fostering innovation, and reshaping the tech hiring landscape for the years to come.
28, Apr 2025
Sadguru Sri Madhusudan Sai Recognized with Fiji’s Highest Civilian Award for Humanitarian Service
28 April 2025, Fiji: On Friday the 25 April, world-renowned humanitarian leader, Sri Madhusudan Sai, was conferred Fiji’s highest honour, the ‘Companion of the Order of Fiji’, by the President of Fiji His Excellency Ratu Naiqama Lalabalavu. The function was held at the State House of Fiji and attended by dignitaries from Fiji and around the world. The previous recipients of Fiji’s highest honour include the Prime Minister of India Hon. Shri Narendra Modi and the President of India H.E. Smt. Droupadi Murmu.
In accepting his award, Sri Madhusudan Sai stated: “I am deeply humbled and honoured to receive this recognition from His Excellency The President of Fiji. I accept on behalf of our entire global team of the One World One Family mission. Fiji has always held a special place in my heart, it is truly a second home to me. This honour is a testament to the collective efforts of so many who have worked tirelessly to uplift and support communities across the country as well as the entire Pacific region. Through establishment of the Sri Sathya Sai Sanjeevani Children’s Hospital as well as a multitude
of humanitarian efforts in the fields of healthcare, education and nutrition, we remain committed to the betterment of Fijians. It has been an immense pleasure to collaborate closely with the Government of Fiji, the vibrant community of former Fijians abroad and our extensive global network of Foundations. Together, we continue to strive for a more compassionate, inclusive, and healthier Fiji”.
Sri Madhusudan Sai’s influence in Fiji is most notably reflected through the creation of the Sri Sathya Sai Sanjeevani Children’s Hospital, the first state-of-the-art, fully free children’s hospital in the South Pacific. This facility stands as a beacon of hope for thousands of children and their families, offering advanced medical care that is otherwise inaccessible due to financial constraints.
The hospital’s work focuses on providing cutting-edge treatment to children, regardless of their background, and has already saved countless lives. The establishment of this institution represents a monumental leap forward in healthcare for the region, providing a foundation for future generations to thrive.
In addition to the Sri Sathya Sai Sanjeevani Children’s Hospital, Sri Madhusudan Sai founded the Sai Prema Foundation in Fiji, which has become a leading force for social welfare and humanitarian service across the nation. Through the Foundation, he has spearheaded numerous initiatives aimed at addressing key areas of need, such as healthcare, education, disaster relief, and food security. Under His guidance, the Sai Prema Foundation has become a critical partner in strengthening the healthcare infrastructure in Fiji, organising mobile medical camps, offering health screenings, providing scholarships, and extending aid during natural disasters.
The Foundation’s work is a testament to Sadguru’s deep love and commitment to the people of Fiji, and it serves as a beacon of compassion and service that embodies the spirit of unity, solidarity, and community. Beyond Fiji, Sri Madhusudan Sai’s humanitarian efforts have spanned across over 80 countries, impacting millions of lives. His ability to reach the farthest corners of the world and provide aid where it is needed most has garnered global recognition. One of the most notable aspects of his work is his commitment to addressing hunger and malnutrition, particularly through his globally
renowned feeding program, where over 10 million children are fed every single day. This program not only addresses immediate nutritional needs but also instils in the communities a sense of empowerment, dignity, and hope for the future.
Sadguru’s contributions to healthcare are equally profound. He has founded more than a dozen hospitals in India and abroad, all of which provide free healthcare to individuals who would otherwise not have access to life-saving treatment. These hospitals are equipped with modern medical facilities, staffed by highly trained professionals, and offer a wide range of specialised services in fields such as cardiology, orthopaedics, neurology, and paediatrics. These institutions have saved thousands of lives and provided relief to communities in urgent need of medical care.
Perhaps one of Sadguru’s most remarkable accomplishments is the establishment of the world’s first free medical college, located in India, which trains the next generation of doctors with a focus on selfless service. This college, where students are given free education, aims to produce compassionate and highly skilled medical professionals who provide free healthcare to underserved populations. By breaking down financial barriers to medical education, Sri Madhusudan Sai is ensuring that the healthcare system remains accessible to all, irrespective of their financial background.
Furthermore, Sadguru’s reach extends to various other humanitarian causes globally. His global network of volunteers provides timely assistance and resources to communities in distress, including food, shelter, and medical aid, thereby offering much-needed relief in some of the world’s most vulnerable regions. His focus on values-based education also includes schools, vocational training programs, and initiatives aimed at empowering young people with the tools they need to build better futures.
Sri Madhusudan Sai’s philosophy is simple yet profound: “Serve others as you would serve yourself.” This guiding principle has shaped his life’s work and has inspired millions of individuals across the world to adopt selfless service as a way of life. His humanitarian initiatives emphasise not only material assistance but also the fostering of spiritual and emotional well-being. His teachings remind all that service to others is the highest form of living, and that true success lies in the ability to make a positive difference in the lives of others.
Through his personal example, Sri Madhusudan Sai has demonstrated what it means to live a life of compassion, humility, and service. His tireless efforts to address pressing global challenges, such as poverty, hunger, and lack of access to healthcare and education, have had an immeasurable impact. His work serves as a beacon of hope, inspiring individuals, communities, and nations to come together for the greater good.
More about ‘One World One Family’: The ‘One World One Family’ is a unique humanitarian movement of Sri Madhusudan Sai, a social and spiritual leader, who is treading the road less travelled to reach the unreached, serve the unserved and do the undone in unimaginable ways.
The movement proclaims the survival of the weakest in society to create equitable societies, thus aligning with the central promise of the 2030 Agenda for Sustainable Development – ‘Leaving no one behind.’ By taking strides across sectors of Nutrition, Education, and Healthcare, the Sri Madhusudan Sai Global Humanitarian Mission has transformed the lives of over 13 million individuals across the world over the last 12 years.
‘Let no child go to school hungry ever’ was the call, and it galvanised into a morning nutrition movement. From feeding just 50 children in the outskirts of Bangalore, the programme has today grown to become India’s largest morning nutrition programme. More than 10 million children receive fresh multinutrient supplement drink every morning, eradicating their hidden hunger through more than 1 billion servings to date.
‘Erase affordability from the equation of education’ was the message which promulgated the expansion of the educational arena into 28 campuses that provide values-based integral education completely free of charge from Grade 6 to Doctoral Studies to over 3,700 students. A one-of-a-kind free medical college was inaugurated by the Honourable Prime Minister of India, Shri Narendra Modi in March 2023. More than 200 students from the rural strata of society are being trained at the medical college to be moulded into capable and compassionate healthcare professionals who will serve in rural areas.
‘Compassion without Commercialisation’ is at the core of the healthcare services provided by the mission as single-speciality services for paediatric cardiac care, mother and child hospitals, multi-speciality services, outreach programmes, and diagnostic and wellness centres for preventive primary care. Over 3 million outpatient consultations and screenings, and 100,000 inpatient treatments including surgeries have been performed thus far. The world’s largest chain of complete free of charge paediatric cardiac hospitals have been set up in India, Fiji and Sri Lanka with the motto ‘Sirf Dil Bina Bill’, healing more than 34,000 little hearts.
Note-worthy Achievements
• India’s largest morning nutrition programme
• India’s one-of-a-kind completely free of charge chain of residential schools
• India’s first completely free of charge University with a self-sustainable model
• World’s first completely free medical college
• World’s largest chain of completely free of charge paediatric cardiac hospitals
A wave of transformation is surging forth continuously creating a ripple effect of gratitude, servitude, and sacrifice in the society through these acts of compassion that gives more and takes nothing.
28, Apr 2025
Logitech Leads in Sustainable Innovation with Full Move to Paper Packaging
National, April 28 2025 – Logitech today announces significant progress in eliminating plastic clamshell packaging from its hallmark mice categories, with the transition to paper now nearly complete. The magnitude of this initiative is estimated to remove 660 tons of plastic and reduce 6,000 tons of carbon dioxide from the air, equivalent to eliminating over 37 million single-use plastic water bottles annually. The global transition to paper packaging across tens of millions of products continues across various retailers, with expected completion dates by the end of 2025.
“Shifting away from plastic clamshell packaging marks a significant step toward our goal of completely eliminating single-use plastics from our portfolio. This milestone is about 90% complete and is our largest packaging endeavor to date,” said Delphine Donné, GM of the Personal Workspace Solutions business group at Logitech. “Before this transition, we successfully eliminated 1,800 tons of packaging material by implementing design modifications in other areas across our packaging. Every step forward brings us closer to saying goodbye to single-use plastic.”
A custom study conducted in partnership with GlobeScan’s Healthy & Sustainable Living report identified that 61% of consumers globally say they are interested in choosing recyclable packaging in the coming year. Single-use plastics and mixed-material packaging contribute to significant waste, as well as confusion about recyclability. While Logitech advocates 100% recycling of all materials, current waste management methods across geographical areas fall short. Instead, Logitech is proactively eliminating single-use plastics at the source.
“People increasingly value and actively seek out packaging less harmful to the environment. Using paper instead of single-use plastic enhances the customer experience by making packaging easier to open, visually appealing, and informative,” said Bliss Buter-Thompson, head of packaging at Logitech. “At the same time, we can optimize the weight and size of the package and lower the product carbon footprint – all in alignment with meeting our customers’ needs.”
Nearly 80% of a product’s environmental footprint can be influenced during its design process, impacting material choices and efficiency. As part of its Design for Sustainability initiative, Logitech has implemented packaging solutions that minimize environmental impact, including an FSCTM-certified paper packaging program introduced in 2019 and a Single-Use Plastics Policy introduced in 2021. The company also removed plastic shrink wrap in its Logitech G gaming division, and implemented recyclable materials like paper pulp hang tabs and wood fiber bags for many products.
28, Apr 2025
Recycled PET Sector Fully Compliant with New FSSAI Guidelines for Food Contact Use: APR Bharat
New Delhi, April 28, 2025: FSSAI’s recent guidelines on use of r-PET as a food contact material, is set to give a huge fillip to circular economy in India. This guideline also aligns well with The Plastic waste Management Rules 2016 (as amended from time to time), which mandates the use of 30 per cent recycled content in rigid plastic packaging and is already effective from April 1, 2025.
Commenting on the recently released guidelines by FSSAI, Shailendra Singh, Director General of Association of PET Recyclers (Bharat) – APR Bharat, said, “It is a significant move by the regulator and is expected to fast track the adoption of recycled PET in food-contact packaging in a big way thereby giving a huge boost to the country’s circular economy.”
According to Mr. Singh, a combined investment of Rs 7500-8000 crores has been made into world class PET recycling plants, capable of making the safest grade of r-PET to be used as a food contact material. This investment is estimated to generate 10,000 new jobs and also benefit the rag picker community of over 2 million people who collect post-consumer PET bottles and send them for recycling.
The industry, which has already created a capacity of close to 4 lakh MT (commissioned), is hopeful of taking it up to 7.5 lakh MT by 2027 and further increase the installed capacity to 11 lakh MT by 2030. These capacities are being built across the country.
The current mandate requires using 30 per cent recycled content for rigid packaging, and there is more than adequate capacity available to meet emerging demand for r-PET, he said and also added that with the guidelines being notified by FSSAI a significant chunk of capacities will also be made available very soon, thereby enabling producers and brand owners to meet their targets of use of recycled PET content.
28, Apr 2025
UGRO Capital Limited – Q4’FY25 Results
Hyderabad, April 28, 2025: UGRO Capital, a leading DataTech NBFC focused on MSME lending, today announced its robust financial performance for the quarter and financial year ended 31st March 2025. Continuing its journey toward becoming the largest small business financing institution driven by data and technology, the Company reported Assets Under Management (AUM) of INR 12,003 crore as of March 2025, reflecting a 33% year-on-year growth.
UGRO Capital recorded its highest-ever quarterly loan origination of INR 2,436 crore, compared to INR 1,554 crore in the same quarter last year — a growth of 57% YoY and 16% QoQ. Its Emerging Market LAP (formerly the Micro Enterprises business) also witnessed strong performance, with disbursements reaching INR 669 crore for Q4’FY25, up from INR 203 crore for Q4’FY24, marking a 230% YoY and 23% QoQ increase. UGRO’s embedded finance platform, MSL, continued its upward trajectory, crossing an AUM of INR 700 crore as on March 31, 2025. This reflects strong traction and reaffirms UGRO Capital’s commitment to empowering small businesses.
In terms of financials, Total Income for FY25 stood at INR 1,442 Cr (up 33% YoY), with FY24 reporting INR 1,082 Cr (up 58% from FY23). Additionally, the Company reported a Profit After Tax (PAT) of INR 144 Cr for FY25, marking 21% YoY growth. For Q4’FY25, PAT was reported at INR 41 Cr, indicating 24% YoY growth.
On the liability side, UGRO Capital mobilized its highest-ever debt of INR 1,500+ crore during Q4’FY25, bringing its total debt to INR 6,904 crore as of 31st March 2025. These robust quarterly figures, along with GNPA/NNPA metrics of 2.3%/1.6% on the total AUM, underscore the sterling quality of UGRO’s portfolio, highlighting a well-structured risk management approach. UGRO Capital’s distinctive co-lending approach, off-book accounts for 42% of AUM, and its strategic partnership with 17 Co-lending partners, 59 lenders, over 10 green anchors, and 730+ GRO partners, facilitates data-driven, tailored financial solutions for more than 150,000 MSMEs across India.
Speaking on the performance, Mr. Shachindra Nath, Founder and Managing Director of UGRO Capital, said, “Our FY25 performance underscores the strength of our DataTech-driven business model and the progress we have made in reaching underserved MSME segments. With record quarterly originations and robust AUM growth, we remain on track to expand our Emerging Markets portfolio, driving both yield enhancement and greater financial inclusion. Our diversified liability mix, and industry-leading collection efficiency demonstrate the resilience and scalability of our risk-management framework. As we set ambitious targets for FY26, backed by continuous innovation and a growing branch network, UGRO Capital is more committed than ever to empowering MSMEs across India with tailored, high-impact financial solutions.”
28, Apr 2025
HMD to Launch Direct-to-Mobile Phones in India Before Field Trials
Mumbai April 29, 2025 – HMD in collaboration with Free Stream Technologies (incubated at Indian Institute of Technology (IIT), Kanpur) and other D2M partners announces launch plans underway to meet mass consumer demand for Direct-to-Mobile (D2M) phones ahead of large-scale field trials in India. The announcement will be made at the World Audio Visual & Entertainment Summit (WAVES) 2025 held at Jio World Centre, Mumbai.
Direct-to-Mobile is a breakthrough Next-Generation Broadcasting technology that delivers OTT & live TV, video, audio, and text messages directly to mobile phones without requiring Wi-Fi or internet service. This aligns with Prime Minister Narendra Modi’s vision for Viksit Bharat (economic transformation of India) and supports the ‘Make in India’ and ‘Design in India’ initiatives.
Giving a boost to the ‘Make in India’ and ‘Design in India’ efforts, low cost feature phones, smartphones and tablets are powered by Tejas Networks. This technology has undergone extensive testing in live networks by Prasar Bharati in collaboration with IIT Kanpur and Tejas Networks for several years.
On this occasion, Ravi Kunwar, VP and CEO, HMD India and APAC expressed, “HMD has always been committed to staying ahead of the innovation curve and delivering the best consumer experience. With this philosophy at the core of our mission, we’re excited to be a part of the D2M journey. This groundbreaking, first-of-its-kind platform worldwide enables our consumers to access a vast array of multimedia content”
“Sumeet Nindrajog, Director of FreeStream Technologies said, D2M is a technology that can transform how content & data gets consumed by the end users and the commitment from companies like HMD to establish the foundation for a robust device ecosystem is instrumental for our nationwide deployment strategy. Their ability to supply devices at scale demonstrates strong confidence in D2M’s future success.”
Parag Naik, co-founder of erstwhile Saankhya Labs and Executive Vice President, Tejas Networks, said, “The phones are powered by Saankhya Labs’ award winning SL-3000 chipset, which is the foundational D2M enabler. We have also developed the Core Network platform that will enable delivery of targeted Ads, CDN offload, educational content, emergency alerts and other apps that will empower the consumers furthering PM Modi’s vision of a digitally empowered India. Our collaboration with HMD has truly been path breaking and we truly expect the best out of it.”
Chris Ripley, President and CEO, Sinclair, Inc. expressed, “Large scale adoption of ATSC 3.0 in affordable mobile devices vindicates Sinclair’s forethought in leading US and global deployment of this broadcast standard as “mobile first” and in investing in Made by India technology. To meet future 6G goals, we are spearheading the next release of the standard – “Broadcast to everything” (B2X) which will unleash next generation broadcast apps for numerous verticals. We are proud to have companies like HMD as our partners in this initiative.”
The implementation of D2M technology will enable Indian consumers to access entertainment, sports, educational programming, and emergency alerts directly on their mobile devices through terrestrial TV broadcast airwaves. This technology has been under development and testing in India for several years, with HMD now positioning itself as one of the first device manufacturers ready to bring this capability to market.



