8, Feb 2024
Schneider Electric delivers next-generation, open automation infrastructure
Mumbai, February 8, 2024 – Schneider Electric, the leader in the digital transformation of energy management and automation, in collaboration with the technology companies Intel and Red Hat, today announced the release of a Distributed Control Node (DCN) software framework.
An extension of Schneider Electric’s EcoStruxure™ Automation Expert, this new framework enables industrial companies to move to a software-defined, plug-and-produce solution, allowing them to enhance their operations, ensure quality, reduce complexity, and optimize costs.
Next generation of industrial control
Aligned with the goals of the Open Process Automation Forum (OPAF), which is dedicated to driving interoperability and portability, the three collaborators have worked together to create a modern, network-based experience that will lead the way to the next generation of industrial control.
“This project is the culmination of two years of co-innovation to create efficient, future-proof distributed control systems,” said Nathalie Marcotte, Senior Vice President of Process Automation at Schneider Electric. “The DCN framework is key to fostering an open automation approach, enabling industrial businesses to grow and innovate for the future. Its interoperability and portability help our customers enjoy the freedom of shaping technology around their business needs – and not the other way around.”
Red Hat, in collaboration with Intel, recently announced the creation of a new industrial edge platform that helps provide a modern approach to building and operating industrial controls. Since implementing this platform, Schneider Electric has now deployed Red Hat Device Edge in the new DCN software, in addition to Red Hat Ansible Automation Platform and Red Hat OpenShift at the compute layer for DCN deployments, combined with a control infrastructure from Schneider Electric and reference architecture from Intel.
The framework consists of two main components: an advanced computer platform (ACP), which supervises the control workload by providing the content control and automation capabilities needed to deploy workloads securely and programmatically, along with virtualization and monitoring functionalities; and the DCN, which are low-power, industrial systems using Intel Atom x6400E series processors, dedicated to running controls and designed for workloads of mixed-criticality.
“Open and interconnected commercial solutions will help usher in the transition from fixed function proprietary devices to flexible and dynamic software-based infrastructures,” said Christine Boles, Vice President of Intel’s Network and Edge Group and General Manager for Federal and Industrial Solutions. “Intel has a long history of driving open system approaches across its ecosystem. This collaboration with Schneider Electric and Red Hat to develop a software-defined control system showcasing next-generation distributed control nodes built on general purpose compute and operating systems brings about this transition to the industrial sector.”
“Red Hat is committed to helping manufacturers implement autonomous operations on the shop floor,” said Francis Chow, Vice President and General Manager of In-Vehicle Operating System and Edge at Red Hat. “By working closely with our partners like Schneider Electric and Intel, we can help build scalable, software-defined factories and operations capable of advanced automation and interoperability by utilizing a consistent platform approach. We’re excited about this collaboration, and this is only the beginning. By taking these steps now, we can help set the industrial sector up to explore all the possibilities AI, edge computing and more have to offer.”
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- By Rabindra
8, Feb 2024
Indian Laundromat brand UClean all set for its overseas forays
New Delhi, 08, Feburary 2023: India’s fastest-growing Laundromat chain UClean, has geared up for a significant leap into the international stage. The company has announced its strategic entry into the MENA (Middle East and North Africa) and SAARC (South Asian Association for Regional Cooperation) regions, with plans to open 25 stores in SAARC and 50 stores in MENA.
UClean’s decision to target MENA and SAARC aligns with the company’s commitment to providing professional cleaning services to a diverse and growing customer base. The laundry market in these regions holds immense potential, and UClean aims to meet the rising demand for quality laundry solutions.
Commenting on UClean’s expansion plans, Ms. Gunjan Taneja, Co-Founder, of UClean stated, “The expansion into MENA and SAARC comes at a critical time when the laundry care market is experiencing substantial growth. UClean aims to capitalize on soaring global demand as it anticipates robust growth in the dry-cleaning and laundry services market, projected to surpass US$147 billion by 2033”.
In India, UClean has already achieved significant success, with a presence spanning from Vagamon in the south to Kargil in the north and from Panjim in the west to Ziro in the northeast. The company currently operates 450+ outlets across the country and envisions reaching 1500 centers by 2025, added Ms. Taneja.
The move to introduce D2C (direct-to-consumer) cleaning supplies is part of UClean’s strategy to adapt to changing market dynamics and cater to the evolving needs of consumers. UClean aims to achieve a gross Merchandise Value (GMV) of 1,000 crores by 2025.
UClean’s innovative approach and dedication to excellence have garnered recognition and accolades from various quarters. The company has received prestigious awards, including the ITC “Changemaker of India” awards, the NDTV “Icons of Bharat” awards, and the distinction of being the First Indian Brand to Win a Global Franchise Award in 2019 in the “Best Emerging Brand” category.
8, Feb 2024
Seenu Ramasamy’s anthology ‘The Days of a Small Brook and Other Poems,’ wins hearts worldwide
New Delhi/Tamil Nadu: Seenu Ramasamy, an internationally acclaimed Director, and a Tamil poet, is making waves globally with his poetry collection ‘The Days of a Small Brook and Other Poems,’ now available in English. Translator N Elango skillfully preserves the essence of Ramasamy’s Tamil verses, offering readers a rich and emotional experience.
This anthology is a journey of raw emotions, seamlessly navigating through real- life experiences. It explores joy, sorrow, hope, doubt, village life, and the glamour of the city with unfiltered honesty. Ramasamy, like a carefree bird, expresses his feelings without inhibition.
‘The Days of a Small Brook and Other Poems’ invites readers into the lives of real people, blending rural and urban existence. Through Ramasamy’s unique poetic style, elements like tamarind trees, snakes, passionate mothers, film artists, love, betrayals, gods, animals, mountains, and grandparents come alive.
Translator N. Elango successfully retains the original charm of Ramasamy’s Tamil poetry, ensuring an authentic but relatable connection for English-speaking readers. The poet’s honesty creates a humane connection, inviting readers to see themselves in his poetic expressions. Elango emphasizes the translator’s role as a constant reader during the translation process.
Often called as the ‘People’s Director’ in the world of cinema, Seenu Ramasamy, earns the title of ‘People’s Poet’ for his poetry. Influenced by poets like Subramania Bharathi and Na. Pichamurthy, his work reflects a rich literary heritage.
Mr Ramaswamy was always fond of cinema and was inspired by Tamil stalwarts such as K Balachandar, Mahendran, and Barathiraja, with Balumahendra as his mentor which made his poetry inherently visual. His cinematic journey, marked by international acclaim and a National Award for the Best Tamil film (Southwest Monsoon), aligns seamlessly with the authenticity and rawness of his poetic expressions.
Ramasamy’s passion for classical Tamil Sangam poetry infuses ecological sensibility into both his movies and poetry, offering authentic glimpses into Indian life. His latest film, ‘Maamanithan’ (Great Man-2022), celebrated as a classic worldwide, explores the raw life force that turns an ordinary person into a hero.
Born in 1973 in Madurai, Ramasamy’s formative years at Charles School and TVS School set the stage for his later endeavors. Graduating in Mathematics from Mannar Thirumalai Naicker College, his love for his wife Tharshana and daughters Thiyana and Thivya Ranjana adds a personal touch to his lyrical sensibilities.
As ‘The Days of a Small Brook and Other Poems’ continues to resonate with readers, Seenu Ramasamy’s unique blend of cinematic vision and poetic prowess solidifies his position as a versatile artist. His work captures the raw essence of the human experience with depth and sincerity.
8, Feb 2024
AIMEP Organised Grand Nari Shakti National Conclave in New Delhi
New Delhi, Feb 8, 2024: The All India Mahila Empowerment Party (AIMEP) organized a grand “Nari Shakti National Conclave” on the theme of “Nari Shakti: Towards Women-led Development” on Wednesday in New Delhi.
The conclave was a momentous celebration of women’s achievements and the impact of the Women’s Reservation Act (Nari Shakti Vandhan Adhiniyam 2023), which was passed by the Parliament last year.
The conclave witnessed the participation of over 350 eminent personalities from various fields, such as politics, academia, media, arts, sports, and social work. The conclave also witnessed the release of “Viksit Bharat Vision Documents”.
The conclave hosted a panel discussion led by Dr. Nowhera Shaik, Founder and National President of AIMEP, centred around the theme “From Women’s Development to Women-led Development: A Tectonic Shift in the Development Discourse of India.”
The conclave was followed by keynote speeches which were delivered by prominent figures including, Dr. Ramdas Athawale, Union Minister of State for Social Justice and Empowerment.
The speakers praised the AIMEP for its efforts to empower women and to promote their participation in governance. While addressing to gathering Dr. Ramdas Athawale said, “AIMEP is the first political party to organize such a momentous national conclave to celebrate and empower Nari Shakti. It is a historic and visionary initiative that will inspire and transform the nation,” he said.
While praising President AIMEP, he said that Nowhera Shaik stands as the epitome of Women Empowerment. Through her vision and actions, she has become a symbol of strength and women empowerment for organizing such a groundbreaking event.
A documentary was also featured in the conclave which showcases the contributions, struggles and achievements of Dr. Nowhera Shaik, Founder AIMEP.
All Members of Parliament who played a pivotal role in supporting the Women’s Reservation Bill, were commended during the grand “Nari Shakti National Conclave”.
Dr. Nowhera Shaik, who is the President of AIMEP presented awards on their behalf as a token of recognition for their dedication and commitment to empower women and advancing gender equality.
Dr Nowhera Shaik congratulated them for their courage and conviction and urged them to continue their efforts to uplift the status of women in the society. She said that the Women’s Reservation Act was a historic step towards achieving gender equality and social justice in the country.
“The Women’s Reservation Act is not just a law, but a revolution of amritkaal. It is a tribute to the sacrifices and struggles of millions of women who fought for their rights and dignity,” she said.
Sameer Khan , Political Analysts & Social Worker said “The Mahila Empowerment Party is not just a political party, but a movement. It is a movement of women, by women, and for women. It is a movement that seeks to transform the society and the nation by empowering women and by ensuring their participation in decision-making and policy-making. It is a movement that strives to create a new India, where women are respected, valued, and celebrated,”
“The AIMEP is the voice of Nari Shakti. It is the voice of Viksit Bharat. It is the voice of Bharat – Loktantra ki Matruka. It is the voice of the people,”
8, Feb 2024
Wooden Street Opens 7th Store in Pune, Marks 97th in India
Mumbai, 08February 2024: WoodenStreet, a leading furniture brand, has announced the launch of its seventh physical store in Creativity Mall, the biggest and the best furniture mall in Pune. The new launch spans across an area of 5000 sq. ft. This marks a significant milestone in the brand’s ambitious expansion plan across India & leads the count to 97th store in India.
The company aims to get closer to its customers and strengthen its foothold in Pune by providing a more immersive shopping experience.
After making a mark in several cities across India, company’s expansion into Pune reflects its commitment to catering to the growing demand for quality furniture in the city.
With its new store, WoodenStreet plans to showcase a wide range of furniture options including sofas, dining sets, beds, wardrobes, and home decor cater to diverse customer preferences.
With its offline expansion, the company aims to target a significant increase in market share within the furniture and home decor sector. Wooden Street aims to capture a substantial portion of the market by focusing on product diversity, quality, and personalised customer experiences.
Commenting on the expansion, Lokendra Ranawat, CEO, WoodenStreet said, “Wooden Street is gearing up to expand its footprint and we are thrilled to launch another offline store in Pune. This city is known for its rich culture, youthful vibrancy, rapid urbanisation and has a strong client base that values both style and craftsmanship. With our new store, we aim to provide a quick and engaging shopping experience in which customers can browse our broad inventory and locate the appropriate pieces to alter their homes.”
Pioneer in the furniture brand, Wooden Street aims to open 300 stores within India in the next 36 months. The company also plans to launch several new products exclusively at the Pune store. These include the latest line of designer and space-saving furniture and a special collection of home furnishings with the brand name Earthy Threads.
At Wooden Street store, customers can interact with the products and learn more about the brand. It is an awe-inspiring attempt to connect customers with the brand. With this expansion, the company is not only offering convenience to its customers but also creating employment opportunities for local communities.
8, Feb 2024
Accor Rewards ALL Event Planners with ‘The Choice is Yours’ Incentives
DELHI, FEBRUARY 2024 – Global hospitality leader Accor is rewarding event planners with a host of value-added benefits with its industry leading ‘The Choice is Yours’ offer. Available to ALL – Accor Live Limitless and Accor Plus members who book a social celebration, wedding, business meeting or conference at an Accor hotel in India, the offer is designed to give planners a choice of benefits to choose from to suit their specific event requirements and budget.
Qualifying planners who book an event until 31 December 2024 will receive up to a 30 percent deduction on the master bill. The offer also includes a choice of a complimentary upgrade to the next higher category meeting or catering package, or one complimentary guest room for every ten guest rooms booked. ALL and Accor Plus members will delight in the double rewards points offered for qualifying events.
This unmatched offer empowers qualifying planners to tailor their social celebrations, weddings, business meetings and conferences to their specific requirements and budgets at any Accor hotel in India.
Commenting on the company’s incentives for event and meeting planners, Ms. Pratima Badhwar, Head of Commercial, Accor India and South Asia, said, “Accor is committed to providing the best-in-class experiences for our guests and partners. ‘The Choice is Yours’ offer exemplifies our commitment to the MICE industry by offering tailored benefits and an unparalleled level of flexibility. We believe this initiative will transform the way events are planned, setting a new standard for excellence in hospitality and contributing to the growth of the industry.”
Accor’s ‘The Choice is Yours’ offer for ALL and Accor Plus members is available at Raffles, Fairmont, Sofitel, Pullman, Novotel, Grand Mercure, Mercure, ibis, and ibis Styles hotels.
8, Feb 2024
Lenovo sets the stage for its ‘AI for All’ vision at Tech World India’24
New Delhi, INDIA, February 08, 2024 – Lenovo, the global technology powerhouse, today unveiled its most comprehensive AI capabilities at the company’s annual flagship event – ‘Tech World India 2024.’ This year’s theme ‘AI for All’ focused on how Lenovo is exploring the power of AI to drive intelligent transformation in every industry – with purpose-built AI-ready devices, infrastructure, solutions, and services across pocket to cloud that empower industries, enterprises, and individuals.
Lenovo also launched its latest range of devices powered by AI at this event, in partnership with Intel India. This new line-up includes AI PC innovations across consumer and commercial PCs such as Yoga Slim 7i, Yoga Pro 9i, IdeaPad Slim 5i, and ThinkPad X1 Carbon. These are aimed at personalizing the computing experience and are designed to unlock new AI experiences to boost productivity, creativity and efficiency. These laptops are powered by the latest Intel® CoreTM Ultra Processors, and are amongst the first that are
driving an AI PC revolution that will fundamentally change how people create, collaborate, and interact with PCs.
The event kick started with Lenovo Global, AP and Indian leaders talking about Lenovo’s readiness for AI, while the interactive sessions saw insightful and industry-defining conversations on the relevance of AI with thought leaders such as Santhosh Viswanathan from Intel and Bhaskar Basu from Microsoft. The curated panel discussions featured more industry stalwarts namely Ankit Bose from NASSCOM AI, Ravi Jain from Krutrim and Har nath Babu from KPMG talking about the ‘Emerging Disruptive Landscape Through Genial’; and Rucha Nanavati from Mahindra & Mahindra along with Jaspreet Bindra of Tech Whisperer expressing their thoughts about ‘Responsible and Ethical AI’. They zeroed in on how AI is being democratized, bringing its power from pocket to the cloud, unleashing possibilities, and redefining ‘smarter’ for all.
Talking about the flagship event, Shailendra Katyal, Managing Director – Lenovo India said, “This edition of Tech World is especially exciting for us as we leapfrog towards building solutions that are going to unlock an exciting vision of ‘AI for All’ for Lenovo in India. It is also an opportunity for us to come together with our valued partners to unleash the true ‘power of AI’, and showcase purpose-built AI-ready pocket to cloud solutions. AI is transforming the way people live and work in the country, and Lenovo’s bold approach to drive intelligent transformation will help accelerate this growth and enhance experiences for consumers and businesses alike.”
From exploring the immersive world of gaming to experiencing the versatility of Think devices and the creative possibilities with Yoga PCs, the Experience zone at Tech World India provided an interactive platform for attendees. The zones also displayed ThinkEdge servers powering autonomous robots, demonstrations of digital twins and GenAI solutions, and showcased Lenovo’s make-in-India potential.
Lenovo also unveiled its Made in India devices. This milestone positions Lenovo in the Class 1 PMA category, as more than 50% of components for a specific range of products are now sourced through local manufacturing.
8, Feb 2024
Stable Repo Rates to Keep Residential Momentum Going
Anuj Puri, Chairman – ANAROCK Group
With the fundamentals of the Indian economy remaining strong despite all global headwinds and inflation well under control, the RBI once again decided to keep the repo rates unchanged at 6.5%, thus extending the festive bonanza that it gave to the homebuyers in its last two policy announcements. Thus, homebuyers retain their advantage of relatively affordable home loan interest rates.
If we consider the present trends, the housing market has been unstoppable, and unchanged home loan rates will help maintain the overall positive consumer sentiments. Given that housing prices have risen across the top 7 cities in the last one year, this breather by the RBI is a distinct advantage to homebuyers.
As per ANAROCK Research, 2023 saw average housing prices rise by anywhere between 10-24% in the top 7 cities, with Hyderabad recording the highest 24% jump. The average prices in these markets stood at approx. INR 7,080 per sq. ft., while in 2022 it was approx. INR 6,150 per sq. ft. – a collective increase of 15%.
Going forward, we can expect the momentum in housing sales to continue, significantly aided by the unchanged repo rates which will keep home loan interest rates attractive and also signal ongoing robustness of India’s positive economic outlook.
8, Feb 2024
Balu Forge Industries Earnings press release Q3 FY24
Management Commentary:
Commenting on the performance of Q3 FY24, Mr. Trimaan Chandock, Executive Director of BFIL stated:
“We are happy to share our financial and business performance for Q3 FY24, we witnessed healthy revenue growth of 55.7% and revenue from operations stood at ₹1,470.75 Mn in Q3 FY24 compared to ₹893.92 Mn in Q3 FY23. This growth was led by our constant focus on client addition and continued demand for our products in the existing and new industries like railways, defense and heavy commercial vehicles. EBITDA grew by 72.1% and margins improved from 19.58% in Q3 FY23 to 22.24% in Q3 FY24 owing to increase in scale of operations and increased demand for heavier products which tend to yield better margins. PAT margins improved from 12.81% in Q3 FY23 to 17.31% in Q3 FY24.
In terms of 9M performance, revenue from operations increased by 96.5% and stood at ₹3,986.85 Mn in 9M FY24 compared to ₹2,028.58 Mn in 9M FY23. EBITDA increased by 191.1% from ₹291.08 Mn in 9M FY23 to ₹847.36 Mn in 9M FY24, and margins improved to 21.25% from 14.35%. PAT increased by 176.2% and stood at ₹653.95 Mn in 9M FY24 compared to ₹236.74 Mn in 9M FY23, margins improved from 11.67% to 16.40% during the same period.
Consolidated P&L Statement
| Particulars (Rs. Mn) | Q3 FY24 | Q3 FY23 | YoY% | Q2 FY24 | 9M FY24 | 9M FY23 | YoY% | |
| Revenue from Operations | 1,470.75 | 893.92 | 55.7% | 1,392.25 | 3,986.85 | 2,028.58 | 96.5% | |
| Other Income | 18.64 | 26.23 | 40.61 | 60.32 | 120.97 | |||
| Total Income | 1,489.39 | 920.15 | 55.7% | 1,432.86 | 4,047.17 | 2,149.55 | 88.3% | |
| Total Expenses excl. D&A & Finance Cost | 1,143.61 | 718.86 | 1,090.99 | 3,139.49 | 1,737.50 | |||
| EBITDA (Excluding Other Income) | 327.14 | 175.05 | 72.1% | 301.25 | 847.36 | 291.08 | 191.1% | |
| EBITDA Margin (%) | 22.24% | 19.58% | 21.64% | 21.25% | 14.35% | |||
| Depreciation & Amortization | 5.13 | 3.16 | 4.59 | 14.32 | 8.91 | |||
| Finance Cost | 38.63 | 27.56 | 37.65 | 101.07 | 70.16 | |||
| PBT before Exceptional Item | 302.01 | 170.56 | 299.62 | 792.29 | 332.98 | |||
| Exceptional Items | – | – | – | – | – | |||
| PBT | 302.01 | 170.56 | 299.62 | 792.29 | 332.98 | |||
| Tax | 47.47 | 56.04 | 66.92 | 138.35 | 96.24 | |||
| PAT | 254.55 | 114.52 | 103.2% | 232.70 | 653.95 | 236.74 | 176.2% | |
| PAT Margin % | 17.31% | 12.81% | 16.71% | 16.40% | 11.67% | |||
| Other comprehensive (profit)/ loss | -0.34 | -0.16 | 0.57 | 0.28 | 0.524 | |||
| Net PAT | 254.21 | 114.36 | 233.27 | 654.22 | 237.27 | |||
| Diluted EPS (In Rs.) | 2.57 | 1.37 | 2.47 | 6.61 | 2.84 |
BFIL’s dedication to prioritizing customers and fostering growth has not only bolstered our market position but has also led to the cultivation of strong relationships with clients, positioning us as partner of choice for supplying critical components. A testimony of our client centricity is evident in our recent additions of 3 new OEM clients.
Further, the development of our newly acquired Mercedes Benz unit is also progressing well on expected timelines and the full fledged operations are expected to commence from Q4 FY24. This unit will enable us to produce heavier and more complex components having better realizations and margins. Currently the same is partly operational and is aiding us in achieving good revenue growth along with superior margins.
On the industry front, we are seeing immense opportunity in various sectors like defense, railway, sustainable green energy components, and commercial vehicles. To seize these opportunities, we are leveraging our strong inhouse R&D capabilities to expand our product offerings and the testimony to same is depicted by our broad product range. Furthermore, we are spearheading investments to transform into a more integrated company. These investments will enable to us to acquire new clients, expand our presence in untapped regions and enhance our product portfolio.
In summary, our readiness for the future is characterized by a comprehensive strategy that harmoniously blends different facets. This encompasses ongoing expansion of our capacities to meet anticipated demand, alongside the implementation of new technologies to improve operational efficiency and cost-effectiveness. Furthermore, our dedication to pioneering innovation and careful cost management assures us to increase our prominence in the competitive landscape, paving the way for sustained revenue growth and enhanced profitability.
Management Guidance:
- Revenue is expected to conservatively grow in the range of 40.0%-45.0% in FY24 over FY23, led by new customer addition in sectors like railway and defence.
- EBITDA margins are expected to be in the corridor of 23.0%-24.0% in the upcoming quarter on the back of increasing scale of operations and efficiencies thereon
8, Feb 2024
Foam Home India Partners with Technogel Redefining the Sleep Experience in India
The sleep industry in India has awakened and how! Foam Home India, a leading premium mattress brand, announces an exclusive partnership with Techno gel, the German pioneer of producing gel technology for sleep products such as pillows, mattresses, and other seating accessories. Bringing in cutting-edge sleep technology in India, this association is set to elevate the mattress industry by providing innovative sleep solutions. The collaboration with Techno gel Germany marks a significant milestone in the company’s journey towards delivering unparalleled sleep experiences.
Technogel® is a unique, plasticizer-free gel material that stands out for its ability to deform in three dimensions. It behaves like a liquid with the shape memory of a solid. The non-toxic, odourless, hypoallergenic material is skin compatible. Beyond that, Technogel® moulds itself like water but offers the support of a solid material. It reacts in a unique way to your body, relieving pressure without restricting movement. Unlike foam, Gel gradually conforms in all directions to distribute your weight evenly from head to toe. It alleviates tension and maintains proper spinal alignment while permitting natural freedom of movement. The signature tower design promotes airflow which maintains a temperature that is comfortable for sleeping.
Sabina Bhanpurawala, CEO of Foam Home India, expressed enthusiasm about the collaboration, stating, “ This esteemed partnership adds significant value to our brand and sets the standards for excellence in the mattress industry. We have always believed in designing scientifically genuine and advanced mattresses in India. The perfect construction along with the world’s most advanced material (Gel) helps us raise the bar even higher. This collaboration also ensures that our customers experience the benefits of advanced sleep technology in a simple, accessible manner.”
Foam Home India continues to prioritize the well-being of its customers by introducing Technogel’s innovative gel technology, setting a new standard for sleep quality in the Indian market.
