Author: Team

JEET: Ramakrishna Sarada Samiti & SBI Foundation Unveil Free Lifetime Access to New Learning Platform

22.01.2025, Mumbai: Ramakrishna Sarada Samit i (RKSS), one of the most prominent non- governmental organizations in India, along with the State Bank of India (SBI) Foundation, unveiled JEET today. JEET is an educational platform with an inbuilt LMS that will provide learning content for students from more than 10,000 government schools across six States in India. With the help of this web-based LMS platform, JEET is targeting to serve ten lakh economically disadvantaged students from KG to 12 by providing them with a lifelong free learning platform.

Speaking at the occasion, Shri Raghu Pilaka, Director, RKSS said, “Quality education (SDG 4) is a fundamental right. RKSS has championed education for underprivileged communities for 55 years. During the COVID-19 pandemic, the idea emerged to curate vast online educational content into accessible resources for government schools. By 2023, this vision became a nationwide NGO alliance supporting every child’s education. Inspired by Swami Vivekananda’s words, ‘Educate and raise the masses, and thus alone a nation is possible,’ we proudly launch the FREE Web-Based LMS – JEET today on his 162nd birth anniversary. JEET, a result of collective NGO efforts, will empower underserved children with quality education to overcome socio- economic barriers and become future leaders of India. We are actively using AI to scale our work through EduX platform and many more initiatives in video based learning.”

With the goal of empowering under-resourced and disadvantaged students, JEET will offer more than 12,000 rich and high-quality educational videos in phase one and will soon scale up to 1 lakh videos. The content bank of video links available through the LMS was obtained from NGOs and organisations across India. This includes Avanti Fellows, BCPT, Educomp Mathguru, Khan Academy, Magnet Brains, Pratham NGO, Tic Tac Learn, Vimbue, V.K.R.C.E. Trust, Coimbatore, etc.

Speaking at the launch ceremony, Shri Sanjay Prakash, Managing Director, SBI Foundation said, “As the CSR arm of State Bank of India, SBI Foundation is dedicated to making a lasting and meaningful impact on the society. Since its inception in 2015, our mission has focused on empowering marginalized communities and vulnerable populations, with a particular emphasis on fostering growth, education, and equality. Through Project JEET, we aim to bridge India’s digital divide by providing free, high-quality educational content. In partnership with RKSS, this platform will offer educational videos in regional languages, along with Hindi and English, ensuring accessibility for students across diverse backgrounds. By aligning the content with State Board syllabi, JEET complements classroom learning and supports government schools in delivering quality education. We are confident that JEET will not only expand academic resources but also help overcome technological barriers, creating a more inclusive and equitable education system for all.”

NDR InvIT Makes Strategic Expansion with INR 7,061 Million Acquisition of Warehousing and Industrial Properties

Mumbai, January 22, 2025: NDR InvIT Trust, a leading player in India’s infrastructure investment space, has announced the acquisition of a Grade-A industrial and warehousing portfolio spread across the markets of Surat, Hyderabad, Bengaluru, and Pune. This strategic acquisition adds 2.01 million square feet (MSF) of fully operational, high-quality assets to NDR InvIT’s growing portfolio, underscoring its commitment to creating a diversified and scalable infrastructure footprint across key growth centers.

The acquisition, valued at INR 7,061 million, is expected to deliver robust returns and includes properties with 100% occupancy, marquee tenants, and a weighted average lease expiry (WALE) of 15.4 years. The transaction will be financed through a mix of cash consideration (INR 5,651 million) and a preferential issue (INR 1,410 million), which will see 11.01 million units allotted at INR 128 per unit, representing a 21.6% premium over the trade price.

Portfolio Highlights:

● Surat (0.90 MSF): Warehousing facilities leased to marquee tenants, contributing 41.6% of the portfolio’s Gross Asset Value (GAV).

● Hyderabad (0.40 MSF): Built-to-suit warehouse leased to multiple tenants, comprising 9.5% of GAV.

● Bengaluru (0.33 MSF): Facility leased to NxtGen (backed by IFC and Intel), representing 31.3% of GAV.

● Pune (0.39 MSF): Built-to-suit facility for a leading automotive OEM supplier, contributing 17.6% of GAV.

The acquisition is expected to enhance NDR InvIT’s consolidated GAV by 15.22%, increase its operating area by 12% to 19 MSF, and further diversify its geographic presence by entering the Surat and Hyderabad markets while strengthening its foothold in Bengaluru and Pune.

Key benefits and impact of this acquisition:

1. Enhanced Portfolio Metrics: Post-acquisition, the portfolio’s WALE increases to 12.1 years, ensuring long-term income stability.
2. NAV Accretion: The acquisition is expected to deliver a 3% accretion in Net Asset Value (NAV), increasing it to INR 130.81 per unit.
3. Income Growth: An 8.7% cap rate on FY 2026 NOI underscores the accretive nature of the transaction, with net distributable cash flow (NDCF) per unit anticipated to increase by 0.5%.
4. High-Quality Tenants: The properties are leased to industry-leading tenants, ensuring steady cash flows and long-term lease commitments.

Mr. Amrutesh Reddy, Director, NDR InvIT Managers, said, “This acquisition marks a significant step in strengthening our portfolio with high-quality, diversified assets that align with India’s infrastructure growth ambitions. As the country focuses on modernizing supply chains under initiatives like the Gati Shakti National Master Plan and the ‘Make in India’ campaign, these strategic investments reaffirm our commitment to advancing the warehousing and industrial sectors while delivering long-term stable returns to our stakeholders. By expanding into key markets such as Surat and Hyderabad, we are well-positioned to address the rising demand for world-class industrial and logistics infrastructure.”

‘Daakroom – The Letter Writing Carnival’ by JK Paper Ltd. Captivates Mumbai Audience

Mumbai, 22nd January 2025 – After five successful editions across Northern India, Daakroom – The Letter Writing Carnival made its much-awaited debut in Mumbai at the World Trade Center. Presented by JKPaper Ltd and supported by India Post, the event celebrated the timeless art of handwritten letters, offering a day filled with creativity, nostalgia, and connection. The carnival created a vibrant and engaging atmosphere that brought generations together to rediscover the beauty of handwritten communication. The Writing Zone stood out as a highlight, with a Walk-In Post Office by India Post, featuring a real letterbox and postmen riding bicycles through the event, evoking nostalgia and authenticity. Unique experiences like vintage letter scrolls sealed with wax, a typewriter station, live calligraphy, caricatures, handwriting analysis and interactive writing invited visitors to immerse themselves in the world of letters, art, and tangibility, sparking meaningful conversations and heartfelt connections.

Tata Power Delhi Distribution and Tata Power EV Charging Solutions Ltd. Sign Agreement to Boost EV Infrastructure

Tata Power Delhi Distribution Limited (Tata Power-DDL), a leading power utility supplying electricity to a populace of around 9 million in North Delhi has announced a strategic partnership today with Tata Power EV Charging Solutions Limited (TPEVCSL) to develop public EV charging infrastructure across the parking sites of Municipal Corporation of Delhi (MCD). The arrangement aims to promote the adoption of electric vehicles in Delhi, aligning with Tata Power-DDL’s vision of a Green Tomorrow and supporting India’s goal of achieving Net Zero emissions by 2070.

The Business Agreement was signed between Tata Power-DDL & Tata Power EV Charging Solutions Limited (TPEVCSL) in the presence of Senior Officials from both the organizations including – Mr. Gajanan S. Kale, Chief Executive Officer, Ms. Kiran Gupta- Chief-Customer Experience, Commercial, Govt Affairs, EAC & Consumer Litigation, Mr. Rashmikant – Head CS&KCG & Mr. Anurag Bansal- Head Legal from Tata Power-DDL and Mr. Virender Goyal (Head Business Development -EV Business), Mr. Deepak Jain (Regional Head- North) from Tata Power EV Charging Solutions Limited (TPEVCSL).

In line with MoP guidelines, as part of its initiative to expand public charging infrastructure in Delhi, the Municipal Corporation of Delhi (MCD) has made its public parking sites available to Delhi Discoms and PSUs, including Tata Power-DDL, for Supply, Installation, Testing, and Commissioning (SITC) of EV charging stations. TPEVCSL has finalized the parking sites and MCD has allocated these designated parking sites to Tata Power-DDL for a period of 10 years. Tata Power-DDL is also working closely with MCD to identify additional sites for the installation of EV charging stations.

Speaking about the partnership, Mr. Gajanan S Kale, CEO, Tata Power Delhi Distribution Limited said, “We are proud to collaborate with Tata Power EV Charging Solutions Limited (TPEVCSL) in this important initiative. This partnership highlights Tata Power-DDL’s expertise in delivering reliable and sustainable power solutions, as well as our commitment to advancing the EV ecosystem in the National Capital.

Q3 2025 Earnings Call: Supreme Industries Shares Growth Strategies Amid Market Challenges

By-Mr. M. P. Taparia, Managing Director, The Supreme Industries Limited, said

Plastic Pipe Systems business growth continues to be adversely affected due to adverse PVC resin prices scenario and demand from infra spend not picking up as envisaged. Considering better demand in the second half of the year in the segments served by the Company, the Company had earlier envisaged 16-18% volume growth for the current year for the Plastic Piping System. The business fared poorly in the third quarter as PVC prices in open market were quite low compared

to domestic producer prices and due to extended winter rainfall in South India and some Eastern states. The Company expects good demand from Agri and Housing segments for the last quarter. The entire distribution pipeline has de-stocked seeing the continued fall in prices. As the prices have reached a low level, the Company expects good demand going forward in the current quarter. The Company also expects some improvement in infra sector demand, as this being the last quarter of the financial year.

The international PVC prices have stabilized at a low level. The local makers are adjusting their price close to import parity. However, there was a move from local producers to impose Anti-Dumping duty on import of PVC suspension grade resin. The decision from the Finance Ministry is awaited. Thus the PVC resin price trend remains in uncertain arena. Thus, Company is not in a position to give specific volume growth guidance. However, as several brownfield expansion of capacities are in place, the Company with its large portfolio of SKUs in this system is expected to grow 3% to 4% more than the Country growth in plastic Pipe System during this year.

All brownfield expansions at various locations of Plastic Piping Systems are progressing smoothly. The Company is well positioned to cater to increased demand of its product with increased available capacity. The company has reached to annual capacity of 8,20,000 M.T. as on 31st December 2024 and with completion of all the expansion plans undertaken in hand, total installed capacities of the Piping System Business Vertical shall reach 9,00,000 M.T. per annum by the end of FY 24-25.

Three new greenfield plants for Plastic piping division at Jammu, Bihar and Madhya Pradesh shall be taken up for execution in the coming financial year. Land at all the three places is in Company’s possession and detailed plans for products and capacities are being worked out. Equipment have arrived for PP silent pipe system which shall be launched in technical collaboration with M/s. Poloplast Gmbh of Austria during 1st quarter of FY 25-26. The newly introduced PERT Piping System and PE single wall corrugated pipes are witnessing encouraging response. Plans to increase SKUs in Bath fittings and sanitaryware segment are progressing well and till now the division has reached to 629 SKUs, from 421 SKUs at the beginning of the year. The company is servicing 40 different application based systems and continue to explore more value added systems.

The Company continues to remain focused to invest and enlarge the product basket in its piping business and to increase the range of value-added products. The company now has a SKU basket of 14234 numbers in Piping System Business Vertical. The Company has placed orders for all necessary equipment and the work on civil construction has started at its new site at Kanpur Dehat in U.P. for making Windows. In the first phase, Company has planned to put entire window making facilities at Kanpur and cater to customers in Uttar Pradesh, Uttarakhand and NCR. The Company expects to launch and supply Windows in the first half of 2025-26.

The business of Cross Laminated Film is showing improved performance with better capacity utilization. The division has also participated in institutional business and bagged good orders which are under execution. Resultantly the division expects about 20% volume growth in this business segment for the year with improved profitability. Trials have been successfully carried out for the newly developed Cross Plastic Film and samples thereof have been sent to laboratory for testing & certification as well as to potential customers for their evaluation.

The Company continues to expand its range and has introduced various new models of chair & cabinet in its furniture segment. 12 new models have been introduced in the first nine months of FY 24-25. The division continues to add showrooms to improve awareness of its range of premium products. Total No. of showrooms has reached 337 by end of December’24 from 308 as on 31st March’24. Focus on strengthening distribution channel and adding more retail outlets is continued.

In the Industrial Component division, business conditions remain moderate. However, Company expects demand scenario to further improve in sectors of home appliances & white goods which constitutes larger part of this business. It is also working to expand its customer base and develop the business in new sectors. With the revival in the business scenario of various appliances customers, the division expects better prospects going forward.

The Material Handling Division remains focused on introducing new products and also investing in new machines and moulds. Injection moulded pallets are seeing good growth and division continues to add new products in its range of pallets and dustbins. Presently the entire range of pallets are being manufactured at one location in Maharashtra. Going forward, the division plans to increase Pallet’s manufacturing locations and likely to commence from March 25. Equipment for Bubble Guard Board shall arrive by end of first quarter of FY 25-26 and likely to be in production during July-September quarter. The division continues to strive to enlarge its customer base and product portfolio paving the way for moderate growth.

Composite LPG cylinder division continues to cater to existing overseas customers and also participates in various export enquiries. Supplies against new LOI received for 10 Kg. cylinders from Indian Oil corporation Limited (IOCL) are taking place regularly and shall be completed by February 2025. The division expects to receive orders for further quantities in continuation of existing LOI. Work on standard design of 14.2 kg. Cylinder for all Oil Marketing Companies (IOCL, BPCL & HPCL) is under progress and expected to generate good business during FY 25-26 and thereafter. Commercialization of newly developed CNG Cylinders is likely to happen during January-March quarter of this year.

The Protective Packaging Division has enhanced its capacity utilization and its focus on developing customized solutions is working well. The division is continuously increasing its fabrication capacities in various geographies to cater to increased demand. Expansion activities undertaken are progressing well and shall be fully in place by end of FY 24-25. Negotiations for a suitable location for a new greenfield site near the port in the western region, to cater to export opportunities and domestic demand, has been initiated and likely to be concluded by first quarter of FY 25-26.

The Performance Packaging Division continues to utilize its capacities optimally and work on improved product mix and post extrusion value added products with minimal investment. Export opportunities remain the focus area for better value addition.

Looking at the business outlook and opportunities, the Company has planned and committed the highest capex (including carry forward commitments) of around Rs. 1500 Crs. Total cash outflow towards capex has been Rs. 718 crores during first nine months and is likely to reach around Rs. 1000 crores for the year. Entire Capex outflow shall be funded from internal accruals.

Indian CEOs Show Confidence in Economic Growth with Plans for AI Rollout and Workforce Expansion: PwC Survey

Mumbai, 22 January 2025: As global leaders converge to discuss the theme of “Collaboration in the Intelligent Age” at the WEF meeting in Davos, PwC’s 28th Annual Global CEO Survey: India Perspective, released here today, underscores the pivotal role played by the country in shaping the future of global innovation, sustainability, and reinvention.

According to the survey, which polled more than 4,700 CEOs across 109 countries, of which more than 75 were from India, 87% of India CEOs are upbeat about the country’s economic growth, surpassing the global average of 57%, while 74% are very confident about their respective companies’ revenue growth in the next three years. From a macro perspective, India’s robust economic growth, improved ease of doing business (EoDB), infrastructural developments, and its young and skilled workforce continue to attract investors.

However, this confidence is tempered by certain challenges. Of these, technological disruption remains top of mind for India CEOs, followed by macroeconomic volatility and inflation, and low availability of skilled labour. Disruptive technology was also listed by India CEOs as one of the top two factors influencing their company’s low economic viability.

Sanjeev Krishan, Chairperson, PwC in India, said, “For CEOs today, the challenge is to envision the ecosystem in which their company will operate in the future. This includes thinking through the impacts of megatrends like climate change and AI, evolving customer needs, shifting value pools, and the roles that their company will play.”

Optimism around GenAI, but trust is a concern

Businesses across the world have witnessed efficiency gains and increased revenue with GenAI in the last 12 months. In India too, while 51% of India CEOs are positive about GenAI’s impact on profitability, trust remains an issue, with only a third of India CEOs having high trust in AI’s integration into business processes. Expectations for higher revenue growth are in turn prompting companies to increase hiring, with 68% of India CEOs planning to hire more staff, compared to 57% last year. Globally, 42% of CEOs will increase headcount in the next 12 months, and this is perhaps more on account of, rather than in spite of, AI.

“It’s clear from our survey that GenAI is not just a technological evolution but a strategic revolution, reshaping the landscape of global business. India CEOs should embrace GenAI’s potential while also taking steps to manage risks. Responsible AI practices can mitigate many issues and are most effective when baked into GenAI strategy from the start,” added Krishan.

The climate agenda

Back in 2019, few India CEOs were concerned about using data on the impact of climate change on business to make decisions around long-term success and durability of their businesses, nor did they consider climate change as a threat to their organisation’s growth prospects. The needle has moved considerably as organisations in India are now making investments to address climate change. The survey finds that more than one-third of India CEOs noted revenue increases from climate-friendly investments over the past five years. In addition, more than 60% said these investments had either reduced cost or had no significant cost impact.

More than half of global CEOs (56%) polled said their personal incentive compensation was linked to sustainability metrics. In India, the percentage of CEOs who said that a certain proportion of their personal incentive was determined by sustainability metrics was slightly higher at 58%. The higher the percentage of CEO compensation at stake, the higher is the revenue likely to be generated from climate-friendly investments.

Many companies, however, are yet to convert climate-friendly investments – which include transitioning to energy-efficient operations, developing greener products and services, and implementing emission-reducing technologies – into additional revenues. Be that as it may, sustainability is being increasingly built into the fabric of businesses across geographies, not only as a stakeholder management issue, but also as a vector of investment.

The reinvention imperative

The interplay between macroeconomic conditions, geopolitical reconfigurations, and other external and internal threats is poised to shape the future of business and society, and fuel intelligent reinvention for business viability in the decade to come. Our survey indicates that some CEOs have already commenced on this reinvention journey. Four in ten CEOs in India and across the world said their companies have started to compete in at least one new sector/industry in the last five years. Of these, 50% of India CEOs (as against 58% globally) stated that 1–20% of their revenue came from entering a new sector or industry in the last five years.

The most common reinvention actions taken by four in ten India CEOs over the last five years are developing innovative products and services and targeting new routes to markets – for example, selling directly to consumers rather than through intermediaries. Further, 38% of India’s CEOs, as against 32% globally, have aimed at acquiring a new customer base. Collaboration with other organisations has also been a strategy for 26% of CEOs both in India and globally.

On how staying the course on the reinvention track will be key to responsible business viability, Krishan concluded, “To drive transformation, business leaders must be willing to question deeply ingrained beliefs about their organisations’ business models, even when those beliefs were the foundation of past successes. This involves not only introspection within the organisation but also a keen focus on external dynamics, exploring how a rapidly evolving environment can unlock fresh opportunities.”