23, Jan 2024
Budget Expectation_CYFIRMA an External threat landscape management platform
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By Kumar Ritesh,Founder and CEO, CYFIRMA
We would like to see the upcoming budget carry a strong focus on helping businesses overcome the threats of cyberattacks and other digital risks. Indian businesses are adopting digital solutions at an accelerated pace but yet their cybersecurity maturity remains low. A budget that supports SMEs and start-up’s growth while ensuring their cybersecurity needs are taken care of is much needed in the current AI and digital age. The government’s approach needs to move beyond building compliance frameworks to providing tangible subsidies for cybersecurity protection solutions.
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- By Rabindra
23, Jan 2024
Transworld Group Employees Run at TATA Mumbai Marathon
Mumbai, 23 January 2024: Employees of India-based Transworld Group, a leading Global Shipping & Logistics Solution conglomerate, participated in the TATA Mumbai Marathon (TMM), Asia’s largest international marathon, to raise awareness and funds for supporting women who have been victims of human trafficking.
This is the third time that the Transworld Group has participated in TMM to contribute towards NGO Apne Aap Women’s Collective (AAWC), that seeks to empower trafficked women and their daughters by providing alternate livelihood opportunities, education, and social integration via skill training programs. 40 employees from TG completed the marathon this year, shining the spotlight on human trafficking as a serious issue.
This year’s support is dedicated towards Umeed Project, which engages with a diverse set of stakeholders, including the Department of Women and Child Development (DWCD), local law enforcement agencies, government officials, partner organizations, donors, and collaborative partners to rehabilitate trafficked women and safeguard vulnerable girls and women. The project involves a multifaceted range of services designed to address the unique needs of women and girls occupied in brothel-based prostitution. They include outreach, education, health, empowerment, recreation, shelter referrals, trauma-informed counseling, vocational training programs, healthcare support, legal advocacy, and community reintegration initiatives amongst others.
“We are honoured and humbled to be able to contribute to bettering the lives of girls and women who have been forced into the flesh trade by empowering them to become economically and socially independent. Transworld Group employees are keen to run for the cause at the TATA Mumbai Marathon each year because they are deeply committed and find a great sense of purpose in doing so,” said Anisha Ramakrishnan, Director, Transworld Group.
“It has been both a pleasure and an honour to collaborate with Transworld Group throughout the years for the Tata Mumbai Marathon. Witnessing their dedicated participation in support of our cause not only brings a profound sense of satisfaction but also reaffirms our belief in the social cause that we consistently work towards.
Transworld Group has proven to be a beacon of hope, showcasing the presence of courageous warriors who advocate for the rights of women involved in brothel-based prostitution and their daughters. The remarkable commitment demonstrated by Transworld Group to Apne Aap Women’s Collective is truly noteworthy, and we feel blessed to have such exceptional CSR partners by our side,” said Manju Vyas, CEO, AAWC.
23, Jan 2024
Thermo Fisher Scientific Appoints Srinath Venkatesh as Managing Director for India and South Asia
Mumbai, January 23, 2024 – Thermo Fisher Scientific, the world leader in serving science, announces the appointment of Srinath Venkatesh as Managing Director, India and South Asia, for the company.
Srinath Venkatesh steps into this pivotal role with a vision to advance Thermo Fisher’s growth and operations in India, while enhancing customer value creation. Prior to joining Thermo Fisher, he served as the President, Danaher for their India operations. In his previous roles, he has held senior leadership positions including Managing Director- India & SEA for Cepheid and DBS Leader for Danaher Corporation. He has also held significant business leadership positions at GE Capital and GE Lighting including Country leader and CEO of GE Bangladesh.
His visionary leadership, proven track record in business expansion and strategic focus on technology and innovation will drive Thermo Fisher toward the next phase of robust and sustained growth.
Reflecting on the leadership transition, Tony Acciarito, President, Asia Pacific and Japan, Thermo Fisher Scientific said, “India’s resilient economy has a high growth trajectory and highlights the significance of a progressive approach, despite signs of a global economic slowdown. With an industry-leading presence in the country, Thermo Fisher Scientific is well-positioned to contribute to priority sectors such as healthcare, pharma and biopharma, renewable energy and semiconductor manufacturing. Srinath’s extensive experience of over 30 years in driving commercial excellence across industrial and capital businesses, will be instrumental in leveraging our scale in high-growth and emerging markets and elevating our impact in India’s evolving landscape.”
Expressing his thoughts on the appointment, Srinath Venkatesh said, “I am truly humbled and honored to join Thermo Fisher Scientific and privileged to lead the India and South Asia operations. India’s vast addressable market presents attractive opportunities. With its scale and depth of capabilities, accelerated investments in innovation and a focus on expanding its localization strategy, Thermo Fisher is contributing to the country’s scientific and technological progress.”
“I am excited about the possibilities ahead as Thermo Fisher continues to make a meaningful impact through its purpose-driven Mission and unwavering commitment to delivering a unique value proposition to its customers. Importantly, the company fosters an inclusive culture that empowers colleagues to share their unique perspectives and bring their best to work every day. I am looking forward to collaborating closely with the diverse and talented team of over 4700 colleagues across the country to enable our customers’ success,” he added.
Thermo Fisher established operations in India in 1996 and the country is an integral part of Thermo Fisher’s growth journey. Over the last 27 years, the company has strengthened its presence with eight manufacturing facilities, five application labs, two R&D centers, and eight distribution centers, supported by an extensive network of 400-plus channel partners, and approximately 4,700 employees (including PPD) strategically located in 42 cities and offices across 17 locations.
23, Jan 2024
Q3 results of IndiaMART InterMESH Limited
Noida, India, January 18, 2024: IndiaMARTInterMESH Limited (referred to as “IndiaMART” or the “Company”), today announced its financial results for the third quarter ending December 31, 2023.
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Q3 FY2024 vs. Q3 FY2023
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| § Consolidated Revenue from Operations of Rs.305 Crore, YoY growth of 21%
§ Standalone Revenue from Operations of Rs.291 Crore, YoY growth of 21 % § StandaloneEBITDA at Rs. 87 Crore representing EBITDA margin of 30% § Consolidated Cash generated from Operations at Rs. 106Crore |
Consolidated Financial Highlights (Q3 FY2024):
IndiaMART reported consolidated Revenue from Operations of Rs. 305Crore as compared to Rs. 251 Crore in the corresponding quarter of last year, representing a growth of 21%.This includes IndiaMART Standalone Revenue of Rs. 291 Crore and Busy Infotech Revenue of Rs 13 Crore,registeringa growth of 21% and 26% respectively on YoY basis.
Collections from Customer grew to Rs. 332 Crore for the quarter and Deferred Revenue as on December 31,2023 increased to Rs. 1,270 Crore representing a YoY growth of 25%.
Net Profit for the quarter was at Rs.82Crore representing margin of 24%.
Cash Flow from Operations for the quarter was at Rs.106Crore.Cash and Investments balance stood at Rs. 2,039Crore as on December31, 2023.
Standalone Financial Highlights (Q3 FY2024):
Standalone Revenue from Operations of IndiaMART grew to Rs. 291 Crore as compared to Rs. 240 Crore last year representing a growth of 21%. The growth was primarily driven by improvement in realization from existing customers and 9% increase in number of paying subscription suppliers.
Collections from Customergrew to Rs. 316 Crore for the quarter and Deferred Revenue as on December 31, 2023 increased to Rs. 1,229 Crore representing a YoY growth of 24%.
EBITDA for the quarter was at Rs. 87 Crore representing an EBITDA margin of 30%.
Net Profit for the quarter was at Rs. 92 Crorerepresenting margin of 28%.
Operational Highlights (Q3 FY2024):
IndiaMART registered traffic of 272 million and Unique business enquiries of23 million in Q3 FY24; representing a YoY growth of 9% and 4% respectively. Supplier Storefronts grew to7.8 million, an increase of 5% YoY, and paying subscription suppliers grew to212Krepresenting net addition of 1,826 subscribers during the quarter.
Commenting on the performance, Mr. Dinesh Agarwal, Chief Executive Officer, said:
We are pleased to report modest growth in revenue, deferred revenue, and healthy operating margins in the third quarter. We continue to focus on enhancing customer experience on our platform and drive deeper penetration of paying customers across cities, enabling businesses to grow online. We remain confident of sustained profitable growth and cash flows as we leverage market opportunities amidst increasing digital adoption by businesses.
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Q3FY2024 Performance Metrics: Standalone Basis
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| Particulars | Unit | Q3
FY24 |
Q3
FY23 |
Y-o-Y | Q2
FY24 |
Q-o-Q |
| Total Income | (Rs. Crore) | 330 | 287 | 15% | 313 | 5% |
| Revenue from Operations | (Rs. Crore) | 291 | 240 | 21% | 281 | 4% |
| EBITDA | (Rs. Crore) | 87 | 70 | 25% | 81 | 8% |
| EBITDA Margin | % | 30% | 29% | 29% | ||
| Other Income | (Rs. Crore) | 39 | 47 | -18% | 32 | 19% |
| Profit Before Tax | (Rs. Crore) | 119 | 110 | 8% | 107 | 12% |
| Profit Before Tax Margin | % | 36% | 38% | 34% | ||
| Net Profit for the period | (Rs. Crore) | 92 | 82 | 12% | 83 | 11% |
| Net Profit Margin | % | 28% | 28% | 26% | ||
| Collections from Customers | (Rs. Crore) | 316 | 273 | 16% | 321 | -2% |
| Cashflow from Operations | (Rs. Crore) | 105 | 114 | -7% | 101 | 4% |
| Deferred Revenue | (Rs. Crore) | 1,229 | 991 | 24% | 1205 | 2% |
| Cash and Investments | (Rs. Crore) | 1,890 | 1,980 | -5% | 1,766 | 7% |
| Paying Subscription Suppliers | (In Thousands) | 212 | 194 | 9% | 210 | 1% |
| Unique Business Enquiries | (In Million) | 23 | 22 | 4% | 24 | -6% |
Q3 FY24 Earnings Conference Call
IndiaMART InterMESH Ltd will host earnings webinar for investors and analysts on Thursday, 18th January 2024 at 17:00 hours IST to discuss its results and developments for the quarter ended December 31, 2023. The senior management of the company will be present to address the webinar.
23, Jan 2024
Taavi’s Bagru art campaign is an ode to Indian artisans enriching the contemporary fashion landscape
Bengaluru, 23 January, 2024: Taavi, the multi-cultural fashion and lifestyle brand, was launched in 2019 with a vision to make traditional Indian textile crafts accessible and more relevant to the evolving needs of the consumers by giving them a modern avatar. Through its latest digital film which delves into the intricacies of the traditional Bagru art form, Taavi lays the much-required emphasis on the efforts by artisans to preserve India’s rich culture and heritage.
Empowering more than 10,000 Indian artisans from different states, Taavi’s collection of over 2400 styles available on Myntra range from unique textiles to traditional crafts of Indian heritage. Integral to the fashion industry, the world-distinguished artisan community’s efforts to take their legacy forward is widely loved and supported. Myntra is proud to be a part of the journey that is enabling the growth and sustenance of this community while witnessing fashion-lovers embrace their work.
Hailing from Rajasthan, the Bagru art form encapsulates centuries of artistic traditions and is known for its intricate handblock printing. Artisans in Bagru breathe life into textiles with intricate geometric patterns, with colours like black, red, grey, brown, and indigo derived from natural dyeing agents. This art form reflects the cultural richness and artistic finesse of the region, and through Myntra, Taavi enables customers to embrace the crisp materials and unique designs associated with this historic craft.
The film unfolds with the narration of the Bagru artisan whose artwork is available on Myntra via Taavi, delving into the meticulous process behind the creation of each Bagru art fabric. The film, produced in-house by Taavi, is an ode to the centuries-old art form and expected to reach ~4 million people through Myntra’s social media channels.
23, Jan 2024
Experience a Shandaar Night – Republic Day Edition at Nuvo, Sheraton Grand Pune
Nuvo, a party hot spot in town, is set to host an unforgettable evening on January 25th, turning the night into a Shandaar celebration at Sheraton Grand Pune. Known for its special event nights, Nuvo promises an aesthetically pleasing ambiance, pulsating music, and an electrifying dance floor.
The night will come alive with the sensational beats of DJ Regge, who will set the dance floor on fire with an eclectic mix of Bollywood tracks, ensuring an unforgettable experience for all attendees. Guests are invited to embrace the spirit of the evening by dressing in their quirkiest India attire – be it the timeless elegance of a saree or the charismatic swagger of a kurta.
In celebration of Republic Day, Nuvo will be adorned with patriotic decor, creating the perfect backdrop for a night filled with music, dance, and camaraderie. Revelers can expect an immersive experience that blends the traditional and the contemporary, making it an ideal way to celebrate this special occasion.
To enhance the overall experience, Nuvo will be offering an extensive selection of cocktails and delectable cuisine. Indulge in a gastronomic journey with our exquisite menu featuring dishes like Avocado Papdi Chaat, Chicken Sukka With Malabar Paratha, Indian Schewzan Prawns Pizza, Moong Dal Tikki and much more expertly crafted to tantalize your taste buds.
Join us at Nuvo, Sheraton Grand Pune, on January 25th, for a Shandaar Night – Republic Day Edition filled with music, dance, and the spirit of Republic Day. Make sure to come dressed in your quirkiest India attire and get ready for an unforgettable celebration.
What: Shandaar Night, Republic Day Edition
Where: Nuvo, Sheraton Grand Pune
When: January 25, 2024 – 09:00 pm onwards
Contact for entry/ Guest listing: +91 7391073657
23, Jan 2024
Aalekh Foundation, Gorakhnath Temple Trust, and Bint Technology Partner
New Delhi, January 23, 2024 – Aalekh Foundation, in collaboration with the Gorakhnath Temple Trust authorities and Bint Technology, is proud to announce the initiation of a transformative project for the restoration and maintenance of Ram Talab, a historic water body nestled within the grounds of the revered Shri Gorakhnath Temple in Katwaria Sarai, Sanjay Van area. This momentous initiative, conducted under the auspices of the Delhi Development Authority (DDA), signifies a collaborative effort to preserve and enhance our eco-cultural heritage.
Steeped in history dating back to the Treta Yuga during the revered Lord Rama’s time, Ram Talab holds immense sacred significance. Legend has it that Shri Gorakhnath himself urged local villagers to excavate this blessed pond, imbuing it with divine sanctity.
Under the visionary guidance of Dr. Rennie Joyy, the Founder & Managing Director of Aalekh Foundation, renowned for its environmental dedication, this project takes a significant leap toward the sustainable rejuvenation of Ram Talab. Dr. Joyy’s unwavering commitment to safeguarding cultural and ecological legacies has been the driving force behind the Aalekh Foundation’s impactful endeavors.
Bint Technology, led by Mr. Binu Kunnumal, brings its innovative technologies to the table, ensuring the effective cleanup and long-term sustainability of the water body. This collaboration beautifully underscores the fusion of tradition and modernity, harmonizing historical reverence with cutting-edge environmental stewardship.
Lakshmi Menon Bhatia, who has been actively involved in this project since 2022, has played a vital role in its development. Her years of experience as a Global-level International Corporate Executive, coupled with her expertise in environmental sustainability initiatives, make her an invaluable asset to the team. Aalekh Foundation is proud to associate with her as a Strategic Advisor.
Commenced on January 21, 2024, this project coincides with the auspicious occasion of the Ram Mandir opening in Ayodhya on January 22. This synchronicity adds a symbolic layer to the initiative, blending cultural celebrations with a dedication to environmental sustainability.
As a DDA-mandated project, the restoration and maintenance of Ram Talab exemplifies a shared commitment to heritage conservation and environmental responsibility. We invite you to join us in covering this monumental endeavor and showcasing the convergence of public and private efforts for the greater good.
Dr. Rennie Joyy, founder of Aalekh Foundation states “Aalekh Foundation embarks on the 2nd phase of the Ram Talab rejuvenation project, aligning with the auspicious occasion of Ram Mandir pranprathisthan. With the blessings of Gorakhnath Temple and cutting-edge technology from Bint Technology, we aspire to make a lasting impact on ecological balance. Recognizing water as a fundamental necessity, we strive for sustainable maintenance, ensuring a legacy for future generations.”
Lakshmi M Bhatia, Strategic Advisor said, “The ancient Ram Talab highlights the significance of both Water & our Culture, which respects the importance of Mother Nature in her various forms. It is indeed She who nurtures & sustains all of Life…We are indeed delighted to launch Phase 2 of the Ram Talab Rejuvenation Plan with our able partners, Aalekh Foundation & Bint Biotech with the Blessings of the Guru Gorakhnathji Temple Trust & the great Guru Parampara.”
Nandini Nampoothiry – Youth vertical head of Aalekh Foundation said, “The future generations might see ecological imbalance if water is not conserved and clean. In a famous post, Auden said thousands can live without love but not one without water. We need to as a young generation work towards water conservation and rejuvenate water bodies like that of Ram Talab”
23, Jan 2024
Expectation from Union Budget 2024 for the EV Battery & Recycling Sector
Mr. Rajesh Gupta, Founder & Director, Recyclekaro
The upcoming budget holds a pivotal role in steering India towards a sustainable future by fostering the growth of battery recycling. The circular economy’s cornerstone, battery recycling, addresses mineral scarcity and reinforces our supply chains, paving the way for self-sufficiency in battery materials. While regulations like the Electronics Waste Management Rule and Batteries Management Rule have strengthened the recycling industry, persistent challenges call for solutions. To further empower this sector, streamlined recycling policies and incentives for pioneering waste management solutions are imperative.
The rapidly growing adoption of electric vehicles is a catalyst for the EV battery recycling industry. Initiatives such as FAME, PLI, and other incentives should be amplified to fuel this momentum. A tailored PLI scheme dedicated to lithium-ion battery recycling will be a game-changer, amplifying the sector’s growth while advancing India’s sustainability goals. As we approach the budget, investing in these strategic measures will not only invigorate the recycling industry but also cement India’s position as a global leader in sustainable practices.
22, Jan 2024
To THE NEW Recognized by ISG in 2023 Multi Public Cloud Services Provider Lens™
New Delhi, 22 January 2024 – TO THE NEW, a leading digital technology company, has today announced its recognition for the Consulting & Transformation Services Midmarket, Managed Services for Midmarket, and FinOps Services and Cloud Optimization categories in ISG’s 2023 Multi Public Cloud Services Provider Lens™ report.
“This recognition in the three key categories of ISG’s 2023 Multi Public Cloud Services Provider Lens report is a true honor,” says Deepak Mittal, CEO of TO THE NEW. “It signifies our commitment to staying at the forefront of the multi-cloud landscape, offering customers access to the latest tools, technologies, and best practices.” He further added, “CloudKeeper, our proprietary solution, stands as a leading force in Cloud Cost Optimization & FinOps. It empowers clients to achieve their business goals strategically and cost-efficiently, transforming the cloud into a true competitive advantage.”
This Provider Lens™ evaluates providers offering public cloud services, including consulting and transformation, managed services, public cloud infrastructure, and specialized services like FinOps and SAP HANA environments, across multiple major public cloud platforms, like AWS, Azure, and GCP, helping businesses choose the right partner for their multi-cloud strategy.
The consulting and transformation quadrant of the report evaluates providers that assist enterprises in modernizing, optimizing, and transforming their IT operations to achieve greater efficiency, agility, and security. The managed services for Midmarket quadrant assesses managed service providers who adopt a DevOps-centric approach to support robust CI/CD pipelines with strong container management capabilities, offer expertise in site reliability engineering (SRE) and business resiliency, cloud infrastructure lifecycle management and real-time multicloud monitoring with predictive analytics to maximize performance, reduce costs and ensure compliance and security.
The FinOps and cloud optimization quadrant assesses service providers who offer expertise in workload assessment, cloud governance, and FinOps, utilizing AI/ML analytics to predict costs and identify savings opportunities. Leaders actively manage FinOps tools for clients, automate resource utilization, and even handle resource transactions while streamlining workflows for swift budget management. In essence, these providers become expert partners in navigating the complexities of multi-cloud cost optimization.
ISG’s independent validation provides assurance that TO THE NEW possesses the necessary expertise and capabilities to deliver value, optimize cloud investments, and drive business transformation.Being named in ISG’s Provider Lens is a significant milestone on this journey, and TO THE NEW remains dedicated to continuously enhancing its offerings and exceeding customer expectations. Furthermore, CloudKeeper, its proprietary solution, empowers organizations using multi -cloud services by delivering guaranteed cost savings and comprehensive FinOps services.
22, Jan 2024
Unlock Musical Mastery: Dive into Song Beat Madness for Sher Khul Gaye song from Fighter
National, 22nd January 2024: Hungama Game Studio is truly merging the gaming and entertainment landscape with its thrilling game, ‘Song Beat.’ The spotlight is on the release of “Sher Khul Gaye,” the hit track from the blockbuster movie ‘Fighter.’ For a limited time, users can seize the opportunity to immerse themselves in the song from this Hrithik-Deepika starrer with an in-app purchase of only 9 rupees from January 17th to January 31st, 2024!
Discover the magic that sets ‘Song Beat’ apart – a captivating fusion of immersive gaming and delightful musical beats. Immerse yourself in a thrilling world where challenges and rewards unfold at an exciting pace, all harmonized by a symphony of beats that elevate your gaming journey. The latest updates promises that every tap and challenge take you deeper into a realm where gaming meets musical experiences – and players stand the chance to win cool movie magic box rewards! Elevate your playtime and let ‘Song Beat’ unleash the thrill – because gaming just got a whole lot groovier!
Song Beat is expanding its playlist horizon as well. Known for its extensive collection of Hindi and Punjabi hits, the game is now reaching a broader audience. Dive into the musical diversity with trending tracks from regional languages like Marathi, Telugu, Tamil, Bengali, and even international languages such as Arabic and Sinhala, ensuring there’s a musical treat for everyone. ‘Song Beat’ is on a roll to rock your unique musical vibes. The updated user interface and experience add to the fun, offering a sleek and visually appealing platform. Tap your way to the beats of the latest chart-toppers from your favorite stars, making ‘Song Beat’ not just a game but an immersive and entertaining experience. The latest song launch, ‘Sher Khul Gaye,’ and the new features and enhancements are designed to captivate both seasoned gamers and newcomers, offering a unique blend of entertainment and challenge.
Don’t miss a beat – download ‘Song Beat’ and buy your copy of “Sher Khul Gaye” from January 17th to 31st, 2024, for a seamless gaming and musical adventure.
