Author: Rabindra

Shree Cement drives strong Q4 performance; delivers highest ever full year operating EBIDTA

Mumbai, May 16 – Shree Cement, India’s third largest cement group by capacity, today announced its financial results for the quarter and year ended on 31^st March, 2024. The Company recorded an impressive performance with EBIDTA growth of 49% and PAT increasing 21% on YoY basis.

Financial Highlight (Standalone)

                                                                                                                                        ₹ in crore

Operational highlights and initiatives

• Q4 net revenue up YoY by 7% from ₹ 4,785 crore to ₹ 5,101 crore, annual turnover zooms by 16% to ₹ 19,586 crore
• Q4’FY24 total sale volume increased YoY by 8% from 8.83 million tonnes to 9.53 million tonnes, annual volume at 35.5 million tonnes with 12% growth
• EBIDTA (without Other Income) went up YoY by 49% from ₹ 892 crore to ₹1,327 crore. This is the highest ever EBIDTA delivered by the Company.
• Annual EBIDTA also reaches highest ever level of ₹ 4,364 crore

Mr. Neeraj Akhoury, Managing Director, Shree Cement Ltd. said, “Our strong financial performance reflects our sharp focus on operational efficiencies while expanding our capacity through green and brownfield projects. This is complemented by our digital transformation, which is driving us forward, streamlining our operations and empowering our people with data-driven decision-making capabilities.”

He added, “I am happy to see the enthusiastic market response to our consolidation of all products under the master brand ‘Bangur’, which, along with diversifying into Ready Mix Concrete, marks a significant step in our journey towards becoming a multi-product player in the core cement business. We are today well-positioned to contribute significantly to India’s vision of world-class infrastructure.”

Capex Plans

On 2^nd April, 2024, the Company commissioned its Integrated Cement Plant in Guntur district of Andhra Pradesh with cement capacity at 3.0 million tonnes per annum. The work on other 18 million tonnes capacity expansion projects already announced is progressing as per schedule. Upon completion, total cement production capacity of Company in India will reach to 74.80 million tonnes. The Company continues to work on different sites for further expanding its capacity.

RMC foray

During the quarter, the Company made its foray into Ready Mix Concrete (RMC) Business. It entered into an Asset Purchase Agreement with StarCrete LLP to purchase 5 RMC Plants in Mumbai Metropolitan Region of Maharashtra at aggregate consideration of ₹ 33.50 crore. Additionally, the Company also commissioned its first greenfield RMC facility of 90 cubic meters per hour capacity in Hyderabad, Telangana under brand Bangur Concrete. The Company has plans to setup ~100 Bangur Concrete plants in next 3 years, operating in ~50 cities and generating ~3000 direct and indirect employment opportunities.

Sustainability initiatives

• During the year, the share of green power consumption in total power consumption increased to 55.9% against 51.1% in the previous year. As a result of its rising green power consumption, the Company avoided 9.4 lakh tonnes CO₂ emissions during FY 2023-24.
• In Q4’FY24, the Company commissioned green power capacity of ~ 80 MW capacity at different locations for catering to its captive requirement. The Company’s total green power generation capacity stands at 480.3 MW as on 31^st March, 2024 vis-à-vis 385.6 MW as on 31^st March, 2023. Additionally, the Company has initiated its efforts and taken actions for adding another 188 MW of green power capacity at various locations to further boost its green energy share for meeting its captive requirement.
• With a focus on consumption of agro waste, the Company increased use of agro waste from 1.19 lakh tons in FY 2022-23 to 1.24 lakh tons in FY 2023-24, replacing more than 352 billion kCal heat from fossil fuels compared to 317 billion kCal during last year. It is pertinent to mention that as part of its agro waste consumption, the Company also procured 18,865 tons of stubble during FY 2023-24 within the NCR region, to reduce the impact of stubble burning within the region.
• Use of biofuel helped avoid around 1.4 lakh tons of carbon emissions during FY 2023-24 vis-à-vis 1.2 lakh tons in FY 2022-23.
• To curtail the impact of hazardous waste on environment, the Company increased consumption of hazardous fuel from 1.72 lakh tons during FY 2022-23 to 2.39 lakh tons during FY 2023-24, replacing the fossil fuel-based heat by 107.2 billion kCal, compared to 53.9 billion kCal during the previous year. Out of the total hazardous fuel quantity, consumption of liquid hazardous fuel waste was increased from 0.93 lakh tons last year to 1.23 lakh tons during FY 2023-24. The Company has stepped up its efforts to substantially enhance the use of alternative fuels in the current year, which will significantly improve the TSR level in the coming period.
• The Company has improved its water positivity status from >6 times in FY 2022-23 to >7 times in FY 2023-24 owing to specific water conservation initiatives and reduced dependence on fresh water sources, including ground water.

Mr Neeraj Akhoury said, “We are recognised for our industry leading green credentials and innovative solutions. Our commitment to providing the most environmentally friendly building solutions to our customers remains steadfast. We are firmly on track to become a modern and green building material company.”

Membership of RE 100 initiative

During the quarter, the Company became member of the RE100 initiative, a global initiative led by Climate Group, advocating for businesses to convert to 100 percent renewable electricity for all their operations. As part of this initiative, the Company has committed to using 100 percent renewable electricity by 2050.

Bangur – The master brand

The launch of ‘Bangur’ as the master brand for all products was in response to changing customer sentiments and growing aspirations. By consolidating all offerings under the Bangur umbrella, the company offers a complete ecosystem of building materials and services under a single trusted name. This rebranding allowed stronger connections to be established with customers, offering them distinct experiences with the products. Guided by the core philosophy of ‘Build Smart,’ the company aims to empower architects, contractors, and homeowners to make choices that foster a stronger, more eco-friendly India.

Dividend

The Board of Directors of the Company has recommended a final dividend of ₹ 55  per share (550%) for the year 2023-24 subject to approval of members in the next Annual General Meeting. This is in addition to the interim dividend of ₹ 50 per share (500%) declared by the Board of Directors on 31^st January, 2024.

Cement market outlook

Driven by the government’s strong emphasis on infrastructure development, sustained real estate activity and expectations of a good monsoon, the cement demand in India is expected to remain robust, in line with the country’s broader economic development goals.

ASBL founder Ajitesh Korupolu advocates for Happiness-centric Smart Cities

Hyderabad, 16th May 2024: Ajitesh Korupolu, the founder & CEO of ASBL, emphasized the need for urban planning to prioritize the well-being and happiness of citizens. In a recent podcast, he asserted that cities should evolve with a ‘Happiness-centric’ approach to enhance the quality of life for residents.

Mr. Korupolu delved into various key talk points during the podcast, shedding light on the current state of urban planning policies and their implementation. He highlighted the importance of mixed-use blocks in raising the quality of life, emphasizing how such developments could foster more efficient and sustainable urban environments. He drove home the fact that walkability, rather than a car-centric approach to city travel, should be emphasized, and that a lesser known attribute of great city-planning is great walkability.

Addressing the preferences of homebuyers in the context of the city-based lifestyle, Mr. Korupolu discussed the evolving expectations and desires of individuals looking to invest in urban living spaces. He emphasized the importance of factors such as connectivity and public infrastructure, and easy access to services such as creche facilities, fitness zones and socializing spaces in shaping happier lifestyles for citizens.

Further demonstrating the point, Mr. Korupolu highlighted the significant impact spaces have on one’s mental, physical, and social health. With the rapid scale of urbanization, the urban designing too needs to scale, in order to address many modern day human problems affecting one’s wellbeing.

In assessing the progress of unlocking Hyderabad’s smart city potential, Mr. Korupolu commended the urban bodies for laying the preliminary groundwork to understand the challenges, both in terms of quality and capacity, of building a smart city. He called for improved collaboration between the governing bodies, developers and citizens as well, to realize the full vision of a smart and happiness-centric city. These collaborative processes would prioritize the holistic well-being of citizens in the pursuit of creating more livable cities.

Nykaa’s Bridal Campaign Garners Over 3.6M Views, trended at 6 on YouTube India

May, 2024: Nykaa, the go-to destination for all things beauty, recently unveiled their latest campaign, “Nykaa Waali Shaadi” setting the stage for the ultimate wedding extravaganza! This campaign, born out of the vision of every bride and barati longing for a “Nykaa Wali Shaadi”, delivered a comprehensive beauty and style guide tailored exclusively for the wedding season.The country’s leading makeup brands- Lakme, MAC, Huda, and Maybelline among others partnered with Nykaa to bring this campaign alive.

What was the campaign about? Direct access to beauty gurus who sprinkled some magic dust on wedding preparations. Nykaa teamed up with the top makeup artists in the country, including the legendary Sonic Sarwate, Marianna Mukuchyan, Guneet Virdi, and Shraddha Luthra, bringing exclusive beauty guides and FREE bridal makeovers to winning brides.

Commenting on the new campaign, Nykaa Spokesperson said, “Nykaa Wali Shaadi isn’t just a campaign; it’s a celebration of love, beauty, and the joy of weddings! We were thrilled to bring this vision to life, offering brides and baratis across the country a one-of-a-kind experience filled with glam, style, and expert guidance. From our comprehensive beauty and style guides to the top makeup artists and brands, Nykaa Waali Shaadi was there to make every wedding dream come true.”

With a whopping 400 million reach, Nykaa Waali Shaadi took the nation by storm! But that wasn’t all – the expert MUAs hosted retail masterclasses across Nykaa stores, attracting hundreds of attendees including beauticians and future brides.

The wedding madness didn’t stop there! Nykaa partnered with Filtercopy to create two engaging digital films that capture the essence of Nykaa Waali Shaadi. In less than 24 hours, both films were trending at #6 on YouTube India! In 48 hours, the film organically garnered 1.24 million views and the numbers continue to grow. As of today, the films have garnered over 3.6 million views!

Karen Thompson, Brand Director of MAC Cosmetics India said, “We at MAC Cosmetics were thrilled to partner with Nykaa for the “Nykaa Wali Shaadi” campaign, leveraging our shared values of diversity, inclusivity, and innovation. The bridal season in India is when beauty and fashion merge, and Nykaa’s unique insights allowed us to tap into this key shopping moment. Our artistry expertise shone through as we created bespoke looks that not only enhanced customer experiences but also highlighted our commitment to innovation in makeup direction. Together, we reached a wider audience and delivered unforgettable beauty experiences tailored to the season. Our collaboration was a success, and we look forward to future partnerships that inspire and elevate our customers’ beauty journeys.”

Zeenia Shroff Bastani, General Manager, Maybelline New York & Nyx, L’Oréal India said, “We’re thrilled to partner with Nykaa for this wedding season with Nykaa Wali Shaadi. Maybelline New York, known for leading innovation, longwear makeup and setting makeup trends, has been a favorite for glam wedding makeup by brides and their bride-tribes. This collaboration celebrates the union of two giants in the beauty industry – Maybelline NY, the world’s #1 makeup brand, and Nykaa, the preferred beauty retailer giving our consumers the best of makeup & looks for the most special day in their lives!”

Nykaa conducted a contest for brides-to-be offering them a chance to have their bridal hair and makeup done by one of these leading makeup artists. The response to the contest was overwhelming, with over 3000 registrations pouring in!

Expressing her excitement, Diksha, one of the brides who won a free makeover from renowned bridal makeup artist Sonic Sarwate said, “I can’t express enough gratitude to Sonic Sarwate for the phenomenal makeup artistry on my wedding day. His skill and attention to detail transformed me into the bride of my dreams. Being chosen as a Nykaa bride was an absolute honor, and the experience surpassed all my expectations. Thank you, Nykaa, for making my dream wedding a reality, and thank you, Sonic Sarwate, for making me feel like the most beautiful bride in the world.”

From North to South, East to West, Nykaa covered bridal looks that celebrated the rich diversity of the country, presented in vernacular languages, adding an extra touch of authenticity and charm.

AMA Herbal’s Next Gen Indig’ Merges Technology and Sustainability for Textile Revolution

Bengaluru, May 16th , 2024: In a landmark event at the Bengaluru Denim & Jeans Expo held at Hotel Lalit, Bengaluru, AMA Herbal Group proudly unveiled its groundbreaking technique, on which Bio Indigo PReR™ has been developed, hailed as the ‘Next Gen Indigo.’ The world’s first biochemically modified pre-reduced natural indigo, available in liquid form, promises to revolutionize the textile industry.”

Under the visionary leadership of Mr. Yawar Ali Shah, Co-Founder and CEO of AMA Herbal Group, this innovative technique marks a significant leap towards sustainability and cost-effectiveness. With advantages surpassing traditional powder indigo dyes, Bio Indigo PReR stands as a beacon of eco-consciousness and superior quality.

The introduction of Bio Indigo PReR™ is poised to reshape the indigo dye landscape, offering not only environmental friendliness and cost efficiency but also unparalleled color brilliance. Developed with energy-efficient processes and minimal waste generation, this technology signifies a paradigm shift towards greener textile practices.

Accompanied by prestigious global certifications such as the Global Organic Textile Standard (GOTS) Version VII and ZDHC (Zero Discharge of Hazardous Chemicals) Level 3, Bio Indigo PReR™ underscores AMA Herbal Group’s commitment to sustainability and industry-leading standards.

After a successful presentation in Japan, Mr. Yawar Ali Shah expressed optimism about the global reception of Bio Indigo PReR™. With a patent applied and secured, the technology’s recognition and acceptance on the world stage are imminent.

In his statement, Mr. Yawar Ali Shah emphasized, “Bio Indigo PReR™ signifies a crucial step towards embracing environmentally responsible practices in the textile industry, ensuring a sustainable future while honoring the heritage of natural indigo.”

Roastea Opens Up a Flagship Lifestyle Cafe In The Heart of Bengaluru

Bengaluru, 16th May 2024: Roastea, India’s fastest-growing beverage brand, is thrilled to announce the grand opening of its second café in the vibrant IT hub of Bengaluru. Located at 80ft Road, Koramangala, Bengaluru, the launch event is scheduled for May 15th, 2024. This newest addition to the Roastea family promises to delight patrons with a lifestyle ecosystem redefining Bengaluru’s dining experience. Nestled in the heart of the city, our sprawling real estate invites patrons to unwind amidst the tranquillity and verdant landscapes synonymous with Bengaluru. Its crafted offerings ranging from hand-made pastas to live craft bakery ensures an unparalleled culinary experience.

Following the remarkable success of its first outlet in Bengaluru, Roastea is expanding its footprint in the city, bringing its signature blend of quality and innovation to even more customers. Roastea has 14 outlets in India and this one marks a significant milestone for the brand as it celebrates its growing presence. What sets this café apart is its unique setting – a 37-year-old mansion converted into a beautiful lifestyle café with gorgeous Dhone marble patterns procured for the famous district of Dhronachalam, AP; that adds a distinctive charm to the Roastea experience. It’s not just about enjoying your favorite cup; it’s about immersing oneself in an ambiance that immerses with one’s lifestyle & culminates into an ecosystem.

Commenting on the expansion, Chaitanya Bhamidipaty said, “We are incredibly excited to announce the launch of our newest store—a lifestyle ecosystem redefining Bengaluru’s dining experience. Nestled in the heart of the city, our sprawling real estate invites patrons to unwind amidst the tranquility and verdant landscapes synonymous with Bengaluru. More than just a café, Roastea Koramangala curates an immersive experience where patrons can connect with the essence of Bengaluru’s serene charm. Our artisanal offerings, from handmade pastas to Italian-style coffee, are meticulously crafted using premium ingredients sourced from our diverse network of suppliers. For us, excellence is not just a goal; it’s a promise. Our commitment to superior hospitality ensures that every guest feels valued and welcomed. Further, it’s not just about culinary experiences; we’ll also be hosting various music events and workshops creating a vibrant hub for the community. With its one-of-a-kind location and charming ambiance, this new outlet represents not only a significant milestone for our brand but also our effort to provide exceptional culinary and memorable experiences for our customers. We look forward to welcoming the Ooru dwellers and sharing our passion with them.”

Commenting on the expansion, Anurag Bhamdipaty said, “Thrilled to launch this new outlet for all the artisanal tea and specialty coffee aficionados alike to come and get a unique café experience in Bengaluru. With its charming setting in a converted house, this café invites customers to indulge in the perfect blend of relaxation and productivity. Whether you’re seeking a cozy spot to enjoy a freshly brewed cup of coffee or looking to explore workspaces, Roastea promises an unforgettable experience for all.”

Skoda Auto India deploys slew of offers under all-new Summer Campaign

Pune, May 16, 2024 –Soon after announcing an all-new compact SUV and introducing a minimum of six airbags across all variants on its 5-star Global NCAP safety rated models, Škoda Auto India continues on its customer centric strategy with the introduction of an all-new Summer Camp for its customers.

Speaking on the customer initiative, Petr Janeba, Brand Director, Škoda Auto India, said: “Our customers are a central part of all our endeavours. This is reflected in our Human Touch approach, which is a global philosophy and has been localised for India in the form of the ‘My Mantra’ programme. While we continue to build our product actions, our strategy to get closer to our customers, offering them an unparalleled ownership experience is pivotal. This Service Camp is a step in that direction and is also a token of our appreciation to our customers, who choose to be part of the Škoda family.”

The Summer Campaign

The Summer Camp starts immediately and is accessible at every Škoda Auto India dealership, service centre and touchpoint across India. Under it, Škoda customers can avail discounts on a slew of services and customer-centric facilities. Value Added Services have an offer of upto 20%. Facilities like a Ceramic Coating carry discounts of upto 30% under the campaign. An eco-friendly, water-saving Dry Wash of the cars can be availed at a 20% discount. Customers can also sign up for a Road Side Assistance package at a cost that’s 20% lower than usual under this Summer offer. Moreover, Škoda Auto India’s add-on Anytime Warranties carry fabulous offers too. And to top it off, the company is offering its standard 40-point Check-up absolutely free as part of its all-new Summer Campaign.

Through the season

Škoda Auto India’s Summer Camp begins immediately and stretches for over a month right upto June 30, 2024. During this period all Škoda Auto India customers, including customers of legacy cars like the Rapid, Octavia and the Yeti, alongwith India 2.0 cars like the Kushaq and Slavia and the premium Kodiaq and Superb can avail of these benefits.

Warranty with safety

Škoda Auto India already offered a 4-year/100,000 km standard warranty when the industry standard is about 3-years/75,000kms. Customers, under Škoda’s Peace of Mind programme, can extend this 4-year standard warranty up to the 5th or up to the 6th year/150,000 km (whichever is earlier). In 2023, the company introduced an Anytime Warranty that allowed customers to have an additional warranty added, providing their cars a total warranty coverage of up to 8 years/150,000 km (whichever earlier). This package can now be availed of at discounted rates under the latest Summer Camp.

Škoda Auto India’s industry-leading warranty packages are in addition to the company’s recent introduction of six airbags as standard across the range furthering the safety quotient in the proven and tested India 2.0 cars. With the full 5-stars under Global NCAP for the Kushaq and Slavia, and the same score under Euro NCAP for the Kodiaq 4×4, and the recently introduced Superb luxury sedan, Škoda Auto India continues with its tradition of offering a 100% fleet of crash-tested cars rated 5-stars for adults and children in the Indian market.

Human Touch – ‘My Mantra’ programme

Škoda Auto India has put in place several trainings and workshops for its sales and after-sales verticals, towards improving customer satisfaction, connected through its Human Touch philosophy.

Škoda Auto’s Human Touch approach is a global philosophy and has been localised for India in the form of the ‘My Mantra’ program, and enables a customer-first approach across all dealerships.