Author: Rabindra

TVS Credit registers a growth of 19% in PAT in H1 FY25 versus H1 FY24

Chennai, October 15, 2024: TVS Credit Services Limited, one of India’s leading NBFCs, published its unaudited financial results for the quarter and half-year ended September 30, 2024, which reflect the Company’s robust growth and financial stability.

The Company reported Assets Under Management (AUM) of Rs. 26,652 Crore as of Sep’24, an increase of Rs. 3,136 Crore and a growth of 13% as compared to Sep’23. The Company’s Total Income increased by 18% year-on-year and stood at Rs. 3,245 Crore in H1 FY25. The Net Profit After Tax registered a healthy growth of 20% year-on-year and stood at Rs. 301 Crore in H1 FY25. With the addition of over 20 Lakh new customers in H1, the Company has served over 1.6 Crore customers till date.

Q2 FY25 Highlights:

· AUM stood at Rs. 26,652 Crore as of Q2 FY25, a 13% growth compared to Q2 FY24.

· Total Income for Q2 FY25 was Rs. 1639 Crore, a 17% growth compared to Q2 FY24.

· Profit Before Tax for Q2 FY25 stood at Rs. 216 Crore, a 20% growth compared to Q2 FY24.

· Net Profit After Tax was Rs. 161 Crore for Q2 FY25, a 20% growth compared to Q2 FY24.

H1 FY25 Highlights:

· AUM stood at Rs. 26,652 Crore as of Sep’24, a 13% growth compared to Sep’23.

· Total Income for H1 FY25 was Rs. 3245 Crore, a 18% growth compared to H1 FY24.

· Profit Before Tax for H1 FY25 stood at Rs. 403 Crore, a 20% growth compared to H1 FY24.

· Net Profit After Tax was Rs. 301 Crore for H1 FY25, a 19% growth compared to H1 FY24.

The Company continued to maintain its strong growth momentum in disbursements during H1 FY25, primarily driven by increase in distribution reach supported by growth in consumption and increase in penetration. As part of its ongoing risk management and portfolio optimisation, the company has taken proactive steps to further strengthen credit norms, ensuring sustained portfolio health amidst evolving market conditions. TVS Credit remains resolute in its commitment to expand the product offerings, distribution, digital transformation, enhancing customer experience and operational efficiency.

With the ongoing festive season, TVS Credit has unveiled a range of special product schemes and exciting consumer promotions to help customers fulfil their aspirations.

AnyMind Group appoints Siddharth Kelkar and Aditya Aima to lead India & MENA operations

Singapore/India: 15th October, 2024 – AnyMind Group, a BPaaS company for marketing, e-commerce and digital transformation, has today announced key leadership appointments for the India and Middle East and North Africa (MENA) regions. Siddharth Kelkar, Managing Director, Performance Business, AnyMind Group, and Aditya Aima, Managing Director, Growth Markets, AnyMind Group, have been given additional responsibility to co-lead the company’s India and MENA operations as Co-Managing Director, India and MENA.

They will replace Rubeena Singh, who leaves AnyMind Group on October 15, 2024.

In their expanded roles, Kelkar and Aima will jointly spearhead operations for the India and MENA region, leveraging their expertise to drive business expansion, foster strategic partnerships and enhance the company’s presence in these key markets.

Kelkar and Aima joined AnyMind Group through the acquisition of POKKT, a mobile advertising platform, in 2020, and have been with POKKT for seven and five years respectively. These leadership changes come with the group’s strategic viewership to position the company for success and scale up its operations in the two regions.

On the appointments, Kosuke Sogo, CEO and co-founder of AnyMind Group, said: “Both Siddharth and Aditya have proven themselves to be strong leaders in their respective fields, and are always thirsty for new growth, directly reflecting a trait that runs through our management team. We are confident that with their leadership, we are able to help even more businesses become borderless in what is a vast region that possesses great potential.”

Siddharth Kelkar has been a part of the media industry for over 20 years and has worked across digital, print and broadcasting mediums. Before joining AnyMind Group and POKKT, Kelkar held leadership roles in SVG Media, Ozone Media and Reliance Games (Zapak). He has also worked with The Times Group, Hindustan Times and CNBC TV18.

On his appointment, Kelkar said: “I’m excited to take on this expanded responsibility at a time when both India and the MENA regions are at the cusp of transformative growth in digital, marketing, and e-commerce landscapes. Leveraging AnyMind’s cutting-edge solutions, we aim to drive innovation, empower businesses, and build deeper partnerships that will fuel long-term success for our clients across these key markets. I look forward to working with Aditya and the wider team at AnyMind to further scale our presence and impact.”

Aditya Aima has over two decades of experience, including the ad tech, broadcast and publishing industries. Prior to joining AnyMind Group and POKKT, Aima held leadership positions in Culture Machine Media, Astro Malaysia, Bloomberg TV and Turner Broadcasting System.

On his appointment, Aima said: “It’s an honor to co-lead the India and MENA regions, which present immense opportunities for growth. With the rapid digital transformation happening across both markets, we are uniquely positioned to help businesses unlock their full potential using AnyMind’s integrated platform for marketing, e-commerce, and digital transformation. Together with Siddharth, we are committed to driving strategic initiatives that will not only support our clients but also solidify AnyMind’s leadership in these dynamic markets.”

AnyMind Group entered the Indian market in 2020 through the acquisition of mobile advertising platform POKKT. POKKT, a leading mobile advertising platform in India, Southeast Asia, and the Middle East, is integrated with app publishers internationally and provides video and rich media ad solutions. AnyMind Group’s wider suite of technology and operations covers the needs of brands, creators and publishers through two broad spaces: Brand Commerce (for e-commerce, marketing, logistics, production and conversational commerce) and Partner Growth (for creator and publisher solutions).

Troo Good Secures Dollar9 Million in New Funding Led by Oaks Asset Management

National, 15 October 2024: Hyderabad-based Troo Good, India’s largest millet-based snack brand, has successfully raised USD 9 Million in a funding round led by Puro Wellness. Existing investors Oaks Asset Management and V Ocean Investments also participated, strengthening their support for Troo Good’s growth strategy. This capital infusion will support the company’s efforts in expanding infrastructure, enhancing distribution capabilities, and driving product innovation.

This latest round brings Troo Good’s total funding to approximately Rs 130 Crore. Troo Good last raised Rs 55 Crore in a Series A round in November 2021. The company has consistently remained profitable, showing revenue growth year-on-year while competing in the highly competitive FMCG market. This focus on profitability and expanding its retail footprint, online sales channels, and new geographies has cemented investor confidence, as demonstrated by Oaks Asset Management and V Ocean Investments’ continued support.

Vivek Anand PS, Partner at Oaks Asset Management, expressed his confidence in the brand, saying, “Troo Good has consistently delivered value year after year, proving the strength of its business model and the exceptional leadership of founder Raju Bhupati. Our confidence in the brand has only grown, and we are very happy to be part of this next phase of their journey.”

Speaking on the successful fundraise, Raju Bhupati, Founder and CEO of Troo Good, commented: “This funding marks a pivotal moment in our growth journey as we scale our infrastructure, expand our distribution network across India, and focus on innovative millet-based products. We are committed to making healthy, affordable snacks accessible to all and are excited about the opportunities ahead. The funds will help us enhance our manufacturing capabilities, reach more consumers, and innovate with new products that cater to our customer’s evolving tastes and needs. I am extremely excited about the partnership with Puro Wellness in particular since they bring immense complementary skills and strategic distribution depth to Troo Good.”

Troo Good will continue to focus on growing its market share in the rapidly expanding healthy snacks segment. The company is preparing to establish the Troo Good brand as a leader in the millet-based snack category.

Since its founding in 2018, Troo Good has become known for its range of millet-based snacks, including chikkis, protein bars, and Nutri bars. The company sells over 3 Million units daily of its popular millet chikkis and other millet snacks. With this fresh capital, Troo Good is well-positioned to capitalize on the growing demand for healthy, affordable, and sustainable snack options across India.

Mr. Ruchir Modi, Founder of Puro Wellness, stated, “We are deeply aligned with Troo Good’s vision of delivering healthy, affordable snacks to India’s mass market. This partnership is a natural fit for Puro Wellness as we expand our mission to build a comprehensive wellness foods platform. Beyond capital, we are bringing our extensive distribution network and strategic expertise to the table, ensuring that Troo Good becomes a household name across the nation. Together, we aim to elevate the wellness food industry and make healthy eating accessible to millions more.”

World Sight Day: Titan Eye+ Launches ‘Eye Test Menu’ to Enhance Road Safety

Chandigarh, 15th October 2024: As part of its theme to make Indian roads safer, Titan Eye+, India’s leading eye care brand, has launched a drive to address a critical issue that endangers lives on the road—compromised vision among professional drivers.

This ‘World Sight Day,’ celebrated globally to raise awareness about vision impairment and the importance of eye health, Titan Eye+ acknowledges the often-overlooked eye health of those who spend most of their time on the road. As one of many initiatives, they have introduced the “Eye Test Menu,” a creative solution aimed at reaching truck drivers who are always on the move and often overlook the importance of eye care in their demanding schedules.

Since drivers may not be always keen to come for eyecare, Titan Eye+ decided to change that by bringing eye care to them.

As part of the initiative, Titan Eye+ set up eye test camps at strategic locations such as dhabas where truck drivers take their pit stops, transforming the typical experience of stopping for a meal into an opportunity for eye care. Instead of traditional food menus, the brand introduced an ‘Eye Test Menu’—an engaging way to screen drivers for vision problems. These menus, displayed on the walls, mimicked the format of an eye test. To place an order, drivers interacted with the ‘Eye Test Menu,’ which immediately highlighted their vision problems.

Commenting on the initiative, Mr. Maneesh Krishnamurthy, Marketing Head, Eyecare Division, Titan Company, said, “Every year, World Sight Day is an opportunity for Titan Eye+ to draw attention to eyecare. This year we have taken the theme “Make Indian Roads Safe” and our roads are only as safe as the people who drive on them.

The ‘Eye Test Menu’ film created with the team at Ogilvy is an innovation we’re particularly proud of because it doesn’t just offer eye tests—it reaches people where they are and in a manner that catches their attention, shaking the apathy out of vision care.”

The eye test camps featured on-the-spot free eye exams conducted by expert optometrists at these dhabas. Drivers diagnosed with vision issues were prescribed corrective spectacles, with a range of styles to choose from, which were then shipped to their home addresses at subsidized prices.

Make Indian Roads Safe has not only brought essential eye care to the community but has already reached over 7,000 drivers and continues to expand its impact. Expanding the scope of the initiative, Titan Eye+ works closely with platforms like Namma Yatri and others to offer free eye tests to delivery partners, rickshaw drivers, and cab drivers—all critical members of the transportation ecosystem.

Studies show that 1 in 3 truck drivers in India suffer from poor vision, a condition that severely compromises their ability to drive safely. According to statistics, India’s roads witness a startling number of accidents involving large vehicles, with over 25,000 crashes (Ministry of road transport and highway, 2022) and more than 10,000 fatalities (Ministry of road transport and highway, 2022) attributed to trucks and lorries in recent years. Despite the risks involved, many drivers tend to overlook eye care, viewing it as a low priority. This initiative reflects Titan Eye+’s desire to increase awareness about eyecare amongst various communities and create lasting impact.

ISRO invites Tamboli Castings to participate in IAC 2024

Chennai, 15 October: Subsidiary of BSE Listed Tamboli Industries Limited, Tamboli Castings has received an invitation by Indian Space Research Organisation (ISRO) to participate in the prestigious 75th International Astronautical Congress (IAC) taking place from October 14th – 18th in Milan, Italy.

 It is one of the twenty companies participating from India and is the sole representative from the casting and machining sector. ISRO is a key contributor and a platinum sponsor to the event, representing a delegation of Indian companies in this congress.

 IAC is organized by the International Astronautical Federation (IAF), a leading global space advocacy organization with over 513 members across 77 countries. This year’s event is being hosted by the Italian Association of Aeronautics and Astronautics (A.I.D.A.A.) and expects industry leaders, innovators, and space technology enthusiasts to participate in large numbers.

 Tamboli Castings manufactures mission critical components which are high in precision and are fully machined investment castings. It specializes in the pneumatics & automation, pumps, valves & turbo parts, aerospace and automotive industries.

 TCL was incorporated in 2004 as an export-oriented unit and commenced production in 2006. Its clientele consist of Fortune 500 companies and brands across Europe, the US and Asia such as Ferrari, Siemens, ISRO, Jaguar, Flowserve, Ford, Voith, Bosch, L&T among others.

 On the opportunity and occasion, Vaibhav B. Tamboli, Chairman and Managing Director said “This is indeed a fantastic opportunity for us to showcase to the world on the indigenous capabilities we have developed. We stand committed to the Viksit Bharat and Athmanirbhar Bharat initiatives. ISRO inviting us to participate in the congress speaks volumes about our capabilities in the aerospace sector and we remain committed to furthering our footprint in this sector.”

VIP Clothing Ltd. captures a spot in the ISL as the Associate Sponsors of Kerala Blasters FC

Mumbai, October 15th, 2024: VIP Clothing Ltd. has joined hands with one of the best performing teams of Indian Super League, Kerala Blasters FC, as their Associate Sponsor. The brand has recently ventured into active-wear clothing with the launch of ‘Rivolta’. Furthering their commitment to business expansion and empowering the youth of our nation, this collaboration comes at an opportune time.

 For decades, cricket has been the one thing that brought the nation together. Over the few years, we have witnessed many campaigns aiming to evoke a similar reaction for football. The results evidently showcase a growing popularity for players and audiences alike. In 2013, ISL built a viewer base of 11 thousand people across the nation. Today, it constitutes 60% of all football watched in India, with a viewership of over 8.1 crore, which was 16% more than the previous season.

 The ISL, the apex league system, has been operating for 13 years with a consistent upsurge in its viewership. An impressive spike was first observed during the pandemic. Easy access to OTT platforms and negligible data prices further empowered this movement. This strategic partnership between VIP Clothing Ltd. and Kerala Blasters FC captures the energy of the viewers and also enhances the brand’s visibility to a larger, younger audience group. By entrusting the team, the brand also emanates a promise for a brighter future for football, its players and fans.

 A sport enthusiast himself, the Director of the brand, Mr Kapil Pathare, is often seen sharing his views and excitement of various matches on his social media. When talking about this particular collaboration, he said, “The ISL has created a buzz among the people of India, with excited eyes glued to the screen for every match. Having seen the performance previously, I am aware that Kerala Blasters FC is a formidable team on the field. It is a matter of pride for us to be an associate to this team of young talent. I am surely excited to see how the season pans out. I hope our audiences are too!”

 The fan-base of Indian football teams is growing rapidly with active participation by millennials and Gen-Zs. Like VIP Clothing Ltd., many other brands have stepped up to support emerging sports teams and tournaments. This significantly impacts the industry and its players positively.

SK Telecom Publishes White Paper on How the Future Telco Infrastructure Will Evolve in the AI Era

SEOUL, October 15, 2024 – SK Telecom today released its latest white paper, ‘SK Telecom 6G White Paper: View on Future AI Telco Infrastructure,’ laying out the evolution direction of the next-generation telco network infrastructure through the convergence of artificial intelligence (AI) and telecommunications.

In its first 6G white paper published last year, SKT provided an analysis of the key requirements for 6G standardization, technology trends, candidate frequencies, among others.

In this latest 6G white paper released this year, SKT defines the key elements for 6G infrastructure evolution as ‘Cloud-Native, Green-Native, and AI-Native,’ and presents the direction of the 6G infrastructure evolution based on the ubiquitous intelligence emphasized in the International Telecommunication Union’s (ITU) 6G Framework Recommendations (IMT-2030).

In the 6G era, the company anticipates adopting a flexible network architecture based on ‘Generation Mix,’ which appropriately combines previous generations of mobile communications, while considering data traffic demands and specialized services.

SKT’s white paper also highlights the concept of ‘Telco Edge AI’ infrastructure, which combines telecom network infrastructure and AI to simultaneously provide real-time data processing and AI services.

SKT asserts that the next-generation telecommunications business should move beyond simply generating revenue based on traffic demand and shift its paradigm toward enhancing the value of the infrastructure itself.

To this end, SKT explains that the value of telecommunications networks can be enhanced by integrating AI solutions into telecom infrastructure, allowing real-time AI inference. The white paper further emphasizes that for a successful evolution, it is essential to build global ecosystem partnerships, discover promising business models, and advance technology in areas such as radio access networks, core networks, transport networks, devices, and AI orchestration.

“Through this white paper, we aim to present the direction of the next-generation infrastructure evolution based on Telco Edge AI and explore the expansion of the relevant ecosystem,” said Yu Takki, Vice President and Head of Infra Technology Office at SKT. He added, “We are committed to leading the transition to 6G by developing AI-powered wireless and wired networks that create new value through the convergence of AI and telecommunications.”

The Health Minister committed to onboard Sparsh under the Aarogyasri scheme

Hyderabad, October 15, 2024….. SPARSH HOSPICE, Center for Palliative Care celebrated WORLD HOSPICE & PALLIATIVE CARE DAY (WHPCD) 2024 at Nanakramguda on Monday.

Sparsh Hospice was the first centre started for palliative care in united Andhra Pradesh and Telangana.

SRI C. DAMODAR RAJANARSIMHA, the Health, Medical & Family Welfare, Science and Technology Minister was the Chief Guest at the celebration. Speaking on the occasion he said “I am feeling that I am visiting a temple. I am touched by the services offered by the palliative care team of Sparsh. I will offer all help in my personal capacity to make this wonderful project sustainable.”

Minister also mentioned that as we go on pilgrimages with the quest for satisfaction, courage, comfort, desire and hope. But the real temple and the real service can be found in venues like Sparsh.

He further committed to onboard Sparsh Hospice under the Aarogyasri scheme, which will sustain the Trust in running Sparsh project and multiply the impact of the project.

Welcoming the gathering of doctors, caregivers, beneficiaries and guests to the event Dr M. Subrahmanyam, Long-term Trustee, Sparsh Hospice said “Sparsh is a 82-bedded facility has been serving the palliative care and hospice needs of the people of Telangana from the last 13 years through inpatient, home care services and outpatient services.

The year 2024 marks 10 years since the World Health Assembly passed the only stand-alone resolution on palliative care, calling for all countries to “strengthen palliative care as a component of comprehensive care throughout the life course.” This is what inspired the theme for 2024 and Sparsh Hospice has crossed serving 11,000 beneficiaries which comes with this year’s theme.

What started as a 10-bed facility has now grown, 13 years later, into an 82-bed facility with 6 home care vans and 3 pain clinics, a widely respected hospice in the field of palliative care.

Over the years, Sparsh Hospice has touched the lives of more than 11,000 patients suffering from serious illnesses such as cancer.