5, May 2025
Store My Goods Secures Fresh INR 4 Crore from JIIF, Set to Cross One Million Dollar Funding Mark

New Delhi, May 5th  —Store My Goods, a tech-enabled storage solutions startup,raises ₹4 crore in a growth funding round led by JITO Incubation and Innovation Foundation (JIIF) and family offices. The latest infusion is part of the company’s ongoing efforts to close a $1 million round, with participation from prominent family offices. The capital will be used to fuel expansion across new geographies, enhance technology infrastructure, and strengthen its leadership team.

Founded in December 2021 by Sudeep Gupta and Swati Gupta, Store My Goods offers on-demand, tech-enabled storage and warehousing services to both individuals and businesses. The company currently operates in five major Indian metros—Delhi NCR, Mumbai, Bangalore, Hyderabad, and Pune—and has successfully sold over 50,000 months of storage subscription for more than 5,000 customers.

“Store My Goods is addressing a rapidly emerging need in urban India with a tech-driven and scalable approach,” said Jeenendra Bhandari, Chairman, JITO Incubation and Innovation Foundation (JIIF). “We see strong potential in their business model and believe the founding team is well-equipped to lead the evolution of the storage solutions market in India. We are pleased to support their next phase of growth.”

Store My Goods gained early recognition after appearing on Shark Tank India Season 1, which helped build consumer awareness and credibility. However, the current round has been led entirely by JIIF and family offices, signaling strong market validation.

This round isn’t just about capital—it’s about acceleration,” said Sudeep Gupta, Co-Founder & CEO of Store My Goods. “With the support of our investors, we aim to deepen our footprint in current markets, expand into newer cities, and scale our product and tech offerings to build a robust, customer-first storage ecosystem.”

The startup solves multiple storage challenges across both consumer and business segments. On the consumer side, it caters to people dealing with space constraints—offering storage during home renovations, relocations, or as an extension of their homes for seasonal items and personal belongings. For businesses, it serves as a scalable warehousing alternative—helping startups and SMEs manage inventory, promotional material, or archived documents without long-term lease liabilities.

With rising urban density, changing lifestyles, and increasing e-commerce penetration, India’s storage-as-a-service market is poised for disruption. Store My Goods is betting on this shift, backed by a full-stack tech platform, customer-centric service model, and a growing footprint in key Indian metros.

5, May 2025
India’s First Gold Melting ATM Revolutionizes Gold Transactions

Hyderabad, May 5, 2025: Imagine a machine that knows what you need before you do. Goldsikka Ltd, a pioneer in the gold and fintech industry, proudly announces the launch of its groundbreaking innovation: the world’s first AI-powered Gold Melting ATM. This state-of-the-art machine seamlessly integrates multiple gold-related services, offering users the ability to buy, sell, exchange, lease, digitize, and monetize gold with unparalleled convenience.

Building upon the success of India’s first real-time Gold ATM introduced in 2022, this next-generation ATM incorporates advanced features that redefine gold transactions. Notably, it offers an integrated Augmented Reality (AR) experience, allowing users to virtually try on jewellery before making a purchase, enhancing the shopping experience.

MrSy Taruj, MD & CEO, Goldsikka Ltd.; speaking on the occasion said, we are launching world’s first all in one ATM, in 2022 we launched Gold Realtime world’s first Gold ATM, it’s been accepted across the globe and today our Gold ATM is in most of the states of India and internationally we have gold ATMs at Dubai, Cairo, Russia, Tanzania etc. In this new all-in-one Gold ATM we can buy gold, sell gold, exchange gold, transfer gold, digitize gold, monetize gold, lease gold, except dispensing gold loans, this machine is capable of doing anything and everything in gold, even sell jewelry on its own. This is an Automated Teller Machine, with zero human interference. It is a highly advanced AI and VR integrated and driven platform.  Gold will no more be an ornament, it will be slowly converted into an asset class and will definitely be considered as a currency in the near future. Through this ATM you can buy gold through a credit or debit card and we can also sell gold. In the process of selling gold, when we deposit gold in the machine it will be melted, purity of that gold will be tested, and the value of the pure gold will be displayed on the machine. Once the customer accepts the value displayed by the ATM, the amount can be transferred into his bank account. Also, old gold can be exchanged with new gold. One can also buy ETF, we are working with SEBI and regulators to transfer and buy ETFs. The customer can also buy jewelry from the same machine and transfer money into a digital wallet. The process of depositing the gold in the ATM and getting the money in the bank account will take an approximate time of 30 minutes, during this time it takes the photograph of the depositor, verifies his Aadhar card and ID proof. If any fraud is involved in the gold transaction, the ATM will hold back the gold and will automatically report to the police department. A physical hackathon, the software hackathon, hardware hackathon has already been completed and as of now there is no one who can hack the machine. The ATM costs approximately Rs 40 lakhs. We already have 14 working ATMs all over India and 3 working ATMs globally, in a year’s time we are ready to install 100 machines in India and 100 machines globally.

Key Features:

  • Comprehensive Gold Services: Facilitates buying, selling, exchanging, leasing, digitizing, and monetizing gold in one platform.
  • Instant Evaluation and Transaction: Utilizes AI to assess gold purity and value instantly, with options for immediate bank transfers upon monetization.
  • Augmented Reality Integration: Enables users to select and virtually try on jewellery pieces, ensuring satisfaction before purchase.
  • Transparent Transactions: Provides digitally recorded, traceable transactions with detailed purity reports, eliminating hidden charges and middlemen.
  • 24/7 Accessibility: Offers round-the-clock access to gold transactions, ensuring convenience for all users.

For centuries, gold has been central to Indian culture and security. This Gold Melting ATM blends that trust with modern technology,” said Sy Taruj, MD & CEO of Goldsikka Limited. “It eliminates middlemen, hidden charges, and waiting times, offering unparalleled transparency with digitally recorded, traceable transactions and detailed receipts.”

This innovative ATM is a testament to Goldsikka’s commitment to building a tech-driven gold ecosystem, making gold transactions smart, secure, and accessible for all.

5, May 2025
A Polo Mystery in Mumbai: La Martina Seen at Iconic City Landmarks

Mumbai, May 5, 2025 – There’s something quietly cinematic happening across Mumbai. At first, it’s just a detail — the glint of a brass stirrup, the curve of a saddle silhouette, or the disciplined grip of a polo mallet. Then you look again, and the full picture begins to form. This isn’t coincidence. This is La Martina.

Over the past few days, the city’s most iconic landmarks — the imposing steps of the Asiatic Society, the sunlit arches near the Gateway of India, the quiet elegance of South Bombay’s colonial façades have transformed into something of an open-air set. Here, heritage isn’t just a backdrop; it’s a dialogue. With camera crews, sharp tailoring, timeless classics, and a certain old-world swagger, the scenes feel like a fashion mystery unfolding in plain sight, carrying the unmistakable language of polo — Argentina’s enduring gift to the world.

While La Martina has yet to issue any formal statement, its presence alone is enough to spark conversation. The city’s most iconic landmarks have become the canvas for something distinctively refined. 

Founded in Buenos Aires in 1985, La Martina was born from the pampas of Argentina and the soul of the polo field. What began as a maker of technical gear for the world’s finest players has evolved into a global symbol of heritage and elegance — carrying the spirit of polo into every stitch. Today, the brand continues to craft collections that honour tradition through modern craftsmanship — with garments, accessories, and leather goods that echo the grit of the sport and the grace of its culture.

In Mumbai, these values find a fitting stage. A city steeped in history yet surging with energy — much like La Martina itself.

3, May 2025
NSDC International and Takamol Holding Partner to Transform Saudi Workforce

Chandigarh, May 03, 2025: In a breakthrough moment for global workforce development, NSDC International (NSDCI) and Takamol Holding have signed a strategic agreement to collaborate on the Skill Accelerator Program — a flagship initiative of the Government of Saudi Arabia, focused on shaping the future of workforce readiness and human capital excellence in alignment with Vision 2030.

At the heart of Saudi Arabia’s economic transformation lies the urgent need to align workforce capabilities with rapidly evolving industry needs. The Skill Accelerator Program is designed to address this imperative by identifying sector-specific skill gaps, co-creating dynamic skilling strategies, and deploying high-impact delivery models across the Kingdom.

As part of this partnership, NSDC International will provide deep technical expertise in workforce analytics, sectoral skilling strategies, policy advisory, curriculum co-development, and global benchmarking. This collaboration represents a significant leap in NSDC International’s global consulting footprint and underscores India’s growing leadership in enabling future-ready workforce ecosystems worldwide.

Mr. Ved Mani Tiwari, CEO of NSDC and Managing Director of NSDC International, stated:
“This partnership reflects our shared commitment to shaping the future of skills and work. Through this collaboration with Takamol, we aim to contribute to Saudi Arabia’s human capital ambitions with globally benchmarked, locally relevant skilling solutions aligned to Vision 2030.”

Mr. Alok Kumar, CEO of NSDC International, said, “This engagement is a strategic milestone for NSDC International and demonstrates our commitment to co-building resilient skilling frameworks across the globe. Takamol’s bold vision and institutional depth make it an ideal partner, and we are proud to support the Skill Accelerator Program with our end-to-end advisory and implementation expertise.”

Ms. Hessah Alobaid, Project Director at Takamol Holding, shared, “At Takamol, we are driven by the goal of building a workforce that is not just ready for today, but equipped for tomorrow. Our collaboration with NSDC International brings in global insights and robust technical frameworks that will elevate our ability to deliver on the Kingdom’s transformative workforce vision.”

Expanding the Horizon of Impact

The signing of this agreement sets the stage for a long-term, strategic collaboration between NSDC International and Takamol Holding. Beyond the immediate scope of the Skill Accelerator Program, both organisations have expressed intent to deepen their partnership across areas such as:

  1. Sector-specific workforce development strategies in emerging and traditional industries;
  2. Digital skilling frameworks and future skills integration;
  3. Certification systems and qualification frameworks tailored to local and global employment standards;
  4. Upskilling programs for expatriates and Saudi nationals to improve employability and productivity;
  5. Designing pathways for international mobility and skill verification aligned with global standards.

This partnership stands as a model for how two forward-thinking institutions from the Global South can come together to architect solutions that are contextual, scalable, and globally competitive. The engagement is expected to generate not just impact on the ground in Saudi Arabia, but also new knowledge, tools, and models that can be replicated across other regions facing similar workforce transformation needs.

3, May 2025
Vedanta Limited FY25 Profit Soars 172 Percent to 20,535 Crores

Chandigarh, May 03, 2025: Vedanta Limited (BSE: 500295, NSE: VEDL) today announced its Consolidated Results for the fourth quarter and the full year ended 31st Mar 2025. Vedanta delivered robust financials with FY25 revenue soaring 10% YoY to ₹ 1,50,725 crores1, its highest ever. The company’s EBITDA for FY25 stood at ₹ 43,541 crores1up 37% YoY, second highest for the company. Vedanta’s profit after tax for FY25 jumped 172% YoY to ₹ 20,535 crores.

The company’s Q4 revenue reached an all-time high at ₹ 39,789 crores, up 14% YoY. In Q4, the company’s EBITDA surged 30% YoY to ₹ 11,618 crores with an EBITDA margin of 35%2, up 465 bp YoYhighest in the last 12 quarters. The company’s profit for the quarter was up 118% YoY at ₹ 4,961 crore. Vedanta’s cash and cash equivalent for the quarter improved by 34% YoY on the back of Free cash flow (pre-capex) of ₹ 7,814 crore.

The company’s total capital expenditure in the year stood at ₹ 12,626 crores, focused on volume expansion and supply chain integration. During the quarter, Vedanta’s Return on Capital Employed (ROCE) improved by 371 bps YoY to 27%.  The company’s net debt for the quarter reduced to ₹53,251 crores with Net debt/ EBITDA at 1.2x (vs1.4x in Dec’24). Vedanta has received credit rating upgrades from both CRISIL and ICRA to AA.

The company recorded its ever-highest production of aluminium at 2,422 KT. While the company’s zinc operations in India achieved highest ever mined and refined metal production at 1,095 KT and 1,052 KT respectively. Vedanta’s iron ore business posted a growth of 12% with 6.2 Mt of iron ore production and the copper business posted annual copper cathode production at 149 KT.

Commenting on Q4FY25 results, Mr Arun Misra, Executive Director Vedanta Limited said. “I’m pleased to report strong Q4 FY25 results, reflecting our consistent focus on operational discipline. This quarter concludes a year of exceptional achievement in FY25, where we not only delivered the highest-ever annual volumes for Aluminium and Zinc but also drove costs of production down significantly, reaching four-year lows for Zinc India CoP and ex-Alumina CoP at Aluminium. Our outlook for FY26 is firmly focused on growth and efficiency. We are accelerating our transformation, driven by strategic projects like the Lanjigarh Alumina Refinery Expansion and Sijimali Bauxite Mine in Odisha, which are on track to significantly improve our cost position next fiscal. With multiple volume expansions projects set for completion in FY26, we remain confident in our ability to deliver another strong year. We remain vigilant, responsive to market dynamics, and fully committed to seizing opportunities for long-term value creation.”

Mr Ajay Goel, CFO, Vedantasaid “This quarter, Vedanta has delivered an unprecedented financial performance, achieving the highest- ever quarterly revenue of ₹ 39,789 crore, reflecting robust 14% YoY growth. Our EBITDA surged to ₹ 11,618 crore, marking a 30% growth year-on-year, accompanied by an EBITDA margin of 35%, which is highest in last 12 quarters. Our PAT soared to ₹4,961 crore, reflecting an exceptional 118% YoY growth, underscoring the unparalleled resilience and strength of our business. This outstanding performance has been driven by our continuous focus on operational excellence, disciplined cost optimization, and the advantage of buoyant market dynamics. Furthermore, Vedanta Limited balance sheet deleveraged by ~$500 mn in Q4 with a closing Net Debt of $ 6.2 bn, enabling substantial improvement in leverage to 1.2x, reinforces our robust financial foundation.”

FY25 ESG Highlights

  • ESG Leadership: Vedanta Limited’s subsidiary Hindustan Zinc secured the top position, while Vedanta Aluminium ranked 2nd among its global peers in the S&P Global Corporate Sustainability Assessment (CSA) 2024.
  • Renewable Energy (RE): RE Power Delivery agreements (PDAs) of 1906 MW are in place. Overall, FY25 RE utilization at 2.61 bn units.
  • Gender Diversity: Achieved our workplace gender diversity target for full-time employees 7 years in advance. Gender diversity for full-time employees stands at 22% (FY24: 20%)
  • Waste Utilization: FY25 HVLT waste usage at 95%
  • Water recycling: 29% in FY25
  • Tree Plantation: 3+ million trees planted as part of commitment to plant 7 million trees by 2030
  • Women & Child Welfare: 8,045 Nand Ghars created for women and child welfare
  • CSR contribution: Spent ₹ 584 crore in FY’25 on CSR initiatives for communities, positively touching ~6.8 million lives

Consolidated Financial Performance –                                               

(In ₹ crore, except as stated)

Particulars 4Q 3Q % Change QoQ 4Q % Change
YoY
FY2025 FY2024 %Change
YoY
FY2025 FY2025 FY2024
Revenue from operations 39,789 38,526 3% 34,937 14% 150,725 136,985* 10%*
Other Operating Income 666 589 13% 572 16% 2,243 1,934 16%
 EBITDA 11,618 11,284 3% 8,969 30% 43,541 31,818* 37%*
 EBITDA Margin** 35% 34% 1% 30% 5% 34% 27%* 7%*
 Finance cost 2,583 2,442 6% 2,415 7% 9,914 9,465 5%
 Investment Income 732 788 (7%) 543 35% 2,983 2,341 27%
 Exploration cost written off 258 61 111 459 785
Exchange Gain/ (Loss)- Non- operational 135 (227) (49) (47) (263)
Profit before depreciation and taxes  9,645 9,342 3% 6,939 39% 36,105 23,648 53%
 Depreciation & Amortization 2,988 2,681 11% 2,743 9% 11,096 10,723 3%
 Profit before exceptional items & tax 6,657 6,661 (0%) 4,196 59% 25,009 12,925 93%
 Tax Charge/ (Credit) other than exceptional 1,696 1,785 1,741 5,610 4,717*
Profit After Taxes before exceptional items 4,961 4,876 2% 2,455 102% 19,399 8,208* 136%*
 One time Cairn arbitration -net of tax 3,048
Exceptional Gain/ (Loss) -net of tax (180) 1,136 (3717)
Profit After Taxes after exceptional items 4,961 4,876 2% 2,275 118% 20,535 7,539 172%

  *Comparatives exclude impact of one-time cairn arbitration gain in FY 24

**Excludes custom smelting at copper business.

Revenue:

o   4QFY25 consolidated revenue at ₹39,789 crore, up 3% QoQ and 14% YoY driven by favorable market prices and higher premiums

  • EBITDA and EBITDA Margin:

o   4QFY25 EBITDA increased by 3% QoQ to ₹11,618 crore mainly driven by higher volumes, higher premiums partially offset by input commodity inflation

o   4QFY25 EBITDA higher by 30% YoY on account of structural cost saving initiatives across businesses, favorable output commodity prices, partially offset by input -commodity inflation

o   EBITDA margin1 at 35% in 4QFY25, improved ~465 bps YoY highest in 12 quarters

  • Depreciation & Amortization:

o   4QFY25 Depreciation & Amortization ₹2,988 crore increased QoQ 11% and 9% YoY mainly at Oil & Gas and Zinc India

  • Finance Cost:

o   4QFY25 increased to 6% QoQ due to a change in the borrowing mix and one offs partially offset by lower interest rates and 7% YOY in line with average borrowing

  • Investment Income:

4QFY25 lower 7% QoQ and 35% YoY due to change in investment mix

  • Taxes:

Normalized ETR for 4QFY25 is 28% as compared to 46% in 4QFY24, mainly due to changes in profit mix and reduction in tax rate of a foreign subsidiary

  • Profit After Tax:

            4QFY25 Profit after tax at ₹ 4,961 crore, higher 2% QoQ and 118% YoY.

  • Leverage, liquidity, and credit rating:

o   Gross debt at ₹ 73,853 crore as on 31st Mar 2025

o   Net debt at ₹ 53,251 crore as on 31st Mar 2025. Net debt to EBITDA ratio improved to ~ 1.2x vs ~ 1.4x in Dec 2024 and ~ 1.5x in Mar 2024

o   Cash and cash equivalents position remains strong at ₹20,602 crore. The Company follows a Board-approved investment policy and invests in high quality debt instruments with mutual funds, bonds, and fixed deposits with banks

o   Both ICRA and CRISIL have provided AA rating while continuing on Watch with developing implications

4QFY25 Awards and Recognitions:

  • Safety:

o  HZL and BALCO received multiple accolades for safety excellence at 2025 British Safety Council International Safety Awards

o  VGCB won Silver at CII Andhra Pradesh Safety Excellence Awards

  • CSR:

o  BALCO Honoured at the BCC&I Social Leadership Conclave and Awards

o  Vedanta Jharsuguda honored with Two Prestigious Awards at the World CSR Congress 2025

  • Business Excellence:

o  Vedanta Jharsuguda won three Gold Awards at the 3rd TQM-India Summit 2025 by Quality Circle Forum of India.

o  Hindmetal Exploration Services secured Category-A exploration agency accreditation from National Accreditation Board for Education and Training (NABET)

  • Sustainability:

o  HZL received the Water Stewardship award (2nd Position) and Sustainability Performance award (2nd Position) at the 15th India Corporate Governance & Sustainability Vision Summit & Awards organized by the Indian Chamber of Commerce (ICC)

3, May 2025
Siddhant Chaturvedi Launches Music Career, Teams Up with Ananya Panday and Jonita Gandhi

Mumbai, May 5, 2025: Bollywood heartthrob Siddhant Chaturvedi has added a new feather to his cap — making his singing debut with American Tourister’s vibrant new campaign, “Everyone’s In”! Featuring alongside the effervescent Ananya Panday and the soulful Jonita Gandhi, Siddhant steps into a new role, blending music and acting to create a memorable summer anthem.

Launched by Famous Innovations in collaboration with Sony Music, the upbeat music video celebrates the spirit of inclusive travel, where everyone’s story matters. Siddhant Chaturvedi and Jonita Gandhi bring the track alive with their energetic vocals, set to the catchy composition and lyrics by Vayu Shrivastava, the talent behind hit songs like “Naagin” and “Beat Pe Booty”.

The video, directed by Shashanka Chaturvedi and produced by Good Morning Films, captures spontaneous, heartwarming moments of travel, starring Ananya Panday and Siddhant Chaturvedi. It brings to life the simple joy of being welcomed wherever you go, reminding viewers that the best journeys are those where everyone feels like they belong.

Speaking about the campaign, Raj Kamble, Founder & Chief Creative Officer, Famous Innovations, said, “This campaign is a reflection of a simple thought—travel is better when no one feels left out. The music, cast, and storytelling all come together to echo that sentiment in an authentic and uplifting way.”

Commenting on the collaboration, Kumar Ahuja, Chief Revenue Officer, Sony Music Entertainment India, said, “At Sony Music, we believe music doesn’t just enhance storytelling—it drives it. Through our Brand Solutions division, we’re thrilled to bring this energy to American Tourister’s ‘Everyone’s In’ campaign and create a connection that truly resonates with audiences.”

Adding her thoughts, Anushree Tainwala, Executive Director Marketing at Samsonite, said, “‘Everyone’s In’ is more than just a campaign. It’s an invitation to be part of something shared and joyful. This music video perfectly captures that spirit.”

The music video was first launched on Sony Music India’s YouTube channel and has already crossed over 7 million views. It’s also streaming on leading audio platforms like Spotify, JioSaavn, and Apple Music, and supported by a dynamic TVC, outdoor, and digital rollout.

3, May 2025
Sunwing Vacations and Inclusive Collection Offer New Perks for Canadian Travellers

TORONTO, May 3, 2025 /CNW/ – Sunwing Vacations’ Partner of the Month for May, Hyatt’s Inclusive Collection, is offering travellers the chance to see paradise through luxury’s lens. With more ways to save, Canadians can discover the best of destinations like Mexico, Jamaica and the Dominican Republic from lavish accommodations when booking a vacation package with Hyatt and Sunwing Vacations before May 31, 2025.

Partner of the Month Hyatt Inclusive Collection (CNW Group/Sunwing Vacations Inc.)

Hyatt’s Inclusive Collection offers Canadians Endless Privileges®, Unlimited-Luxury® and Unlimited-Fun® at their properties across the tropics. With ideal beachfront settings, world-class spas, gourmet gastronomy, 24-hour room service and more, lavish vacations are no longer just a dream. Designed with every traveller in mind, their expansive range of brands offers amenities and accommodations to complete the ultimate vacation, work travel or destination wedding, where even the smallest of moments become lifelong memories.

For vacation packages secured between May 1 and May 31 for travel by October 31, 2025, travellers can benefit from rate reductions* and kids stay free*, plus be entered for their chance to win a seven-night all inclusive vacation package for two at Hyatt Ziva Riviera Cancun in Mexico. Non-purchasing customers are also eligible to win but are limited to one entry during the contest period and must submit the form available on Sunwing.ca.

For a dream last-minute or summer vacation that offers luxury for less, Sunwing Vacations customers can book a Hyatt’s Inclusive Collection resort with their local travel advisor or at Sunwing.ca.

3, May 2025
RBI-MPC Rate Cuts Prompt Union Bank to Expand MSME, CASA Customer Initiatives

May 3, 2025, Mumbai: Union Bank of India, today announced the launch of its MSME & CASA Outreach program, a nationwide initiative aimed at strengthening relationships with existing customers, expanding outreach to new MSME clients, and driving sustainable growth in CASA deposits.

The countrywide outreach camps follow the RBI Monetary Policy Committee’s back to back rate cuts which saw interest rates on bank credit fall 50 basis points. Union Bank’s MSME loan now start at an affordable interest rate of 8.75%.

The programs will be conducted across 62 locations from April 28 to 30, 2025, bringing together existing and potential customers, industry associations, trade bodies, and government agencies. These events will serve as collaborative platforms to address financial needs, promote digital banking awareness, and introduce tailored financial solutions.

The MSME & CASA Outreach program will focus on understanding customers’ financial needs, showcasing bank products, generating leads, and gathering feedback for continuous improvement in service quality and customer satisfaction. The program will cater to existing & prospective MSME customers, start-ups, young professionals, emerging entrepreneurs, women entrepreneurs, vendors and suppliers associated with large industries, and representatives from industry associations, trade bodies, and chambers of commerce. The CASA Outreach program is designed for prospective premium CASA customers, government department heads, doctors, and other professionals

The event will be presided over by senior officials from Union Bank and will provide a platform for customers to engage with the bank and share their experiences.

During the outreach, customers will have the opportunity to upgrade their CASA accounts and activate salary accounts on the spot. The program will also feature on-spot locker sanction, Vyom digital banking registration, and dedicated help desks for internet banking and mobile banking activation.

3, May 2025
Eurofragance Strengthens Market Position with EUR180M in Sales for 2024

Spanish fragrance house Eurofragance releases

Spanish fragrance house Eurofragance releases its financial results for 2024, showing unprecedented growth. With a 27% sales increase reaching €180 million like-for-like, the company continues to build on its strong upward trajectory year after year.

This performance underscores Eurofragance’s strategic focus and commitment to excellence across all regions and product categories. Juan Ramón López Gil, the company’s CFO, says: “Achieving €180 million in sales is a testament to our initiatives and the dedication of our teams. Each region’s contribution has been instrumental in achieving these results and our financial discipline and focused strategies will continue to drive our success.”

Widespread Expansion Across Categories and Regions

Eurofragance’s results were driven by strong performances in key regions and product categories. All regions experienced a significant increase, with growth ranging from 19% in the EAT region to 30% in IMEA. Joan Pere Jimenez, Chief Market Officer, adds: “We are capitalizing on the rapid development of dynamic markets such as UAE and Saudi Arabia, the latter of which continues to open up with substantial investments in beauty retail. We are also benefiting from positive market trends in India, Indonesia and Turkey where rising disposable income is fueling demand.”

The multinational’s diverse product portfolio also helped shore up significant gains. The Fine Fragrance category experienced a 28% upswing, while the Home and Personal Care segments saw a 20% increase. This cross-category progress highlights Eurofragance’s ability to meet the demand of its customers in their expansion when it comes to offering them the right fragrances to grow their brands.

Expansion Fueled by Strategic Investments and Innovations

In 2024, Eurofragance continued to invest in strategic initiatives to support its growth. The company opened a new creative center in Mumbai, reinforcing its position in India’s fast-growing market. The fragrance house’s expansion and optimism regarding the future are also evident in its commitment to talent. With new hires across all affiliates and substantial investment in its professional development academies and its talent management program, Eurofragance’s workforce grew by 15% in 2024.

The Spanish fragrance house also launched Euphorion™, its first synthetic addition to its ICON Captives collection, a perfumery ingredient that offers a new take on freshness in the perfumer’s palette. Laurent Mercier, who has been at the helm of Eurofragance as CEO for the past seven years has played a key role in the accelerated development of the company and its foray into the design of proprietary fragrance ingredients. Mercier explains: “Our disciplined approach to growth and strategic investments in key areas have allowed us to maintain our reputation as a leading player in the fragrance industry. The strategies we have in place will ensure our sustained expansion, and our commitment to innovation will continue to drive our success in the years to come.”

Relentless Commitment to People and Planet

Eurofragance remained steadfast in its commitment to sustainability, earning the highest possible rating from EcoVadis with a Platinum medal. The company’s dedication to community engagement was and continues to be evident through its participation in programs such as “Empowering Women’s Talent” and “Diversity Leading Company” both organized by the top-tier Human Resources media outlet in Spain Equipos&Talento. Additionally, Eurofragance collaborated with Hospital Sant Joan de Déu Barcelona and MartiDerm dermocosmetics company on a solution for fish odor syndrome, which received a silver medal award at the VPC Green Beauty Awards.

Eurofragance’s performance in 2024 reflects its strategic vision, innovative spirit and commitment to its people, sustainability and community. As the company looks to the future, it remains dedicated to driving growth and delivering value to its customers and stakeholders.

3, May 2025
SDHI and Wheel and Time Sign MoU for India’s First FAST Logistics in Heavy Fabrication
Mumbai, 3 May 2025: Swan Defence and Heavy Industries Limited (SDHI), India’s largest shipbuilding and heavy fabrication company, has signed a strategic Memorandum of Understanding (MoU) with Wheel & Time Shipping Transport Logistics, a specialist in moving heavy and oversized cargo. With the alliance, SDHI has launched India’s first integrated F.A.S.T. (Fabrication, Assembly, Storage, and Transportation) commercial logistics ecosystem at its state-of-the-art shipyard in Pipavav, Gujarat.
The F.A.S.T. model offers an unmatched turnkey ecosystem for executing heavy engineering projects in India by bringing together SDHI’s advanced fabrication and waterfront infrastructure and Wheel & Time’s end-to-end heavy logistics capabilities. The partnership will benefit high-value, time-sensitive projects and will target clientele dealing with material handling equipment at ports, marine infrastructure, petrochemicals, offshore EPC, oil & gas infrastructure and heavy engineering.
This one-of-a-kind model is designed to help companies to shorten project execution timelines, minimize handoffs, reduce overall project risks, and offer scalable solutions connected to global shipping networks.
Vivek Merchant, Director, Swan Defence & Heavy Industries Limited (SDHI) described the alliance as an important step forward for India’s engineering and logistics sectors. He stated, “Newbuilds, ship repairs, and heavy fabrication are central to SDHI’s growth plans. With strong capabilities in shipbuilding and repairs, this partnership with Wheel & Time Shipping Transport Logistics enhances our heavy engineering operations. Together, we can offer customers a more integrated, end-to-end solution. The F.A.S.T. logistics ecosystem allows EPC contractors and heavy industry players to concentrate on innovation and last-mile delivery, while we manage the complexities from fabrication to transportation.”
Gautamraj Sharma, Managing Director, Wheel & Time Shipping Transport Logistics said, “We are elated to partner with SDHI. We believe our collaboration with them brings together the best of deep fabrication infrastructure and robust logistics know-how. The F.A.S.T. logistics ecosystem will enable clients to de-risk projects and improve certainty across timelines, execution, and delivery.”
Spread over 600 acres with 1.2 kilometres of developed waterfront, SDHI has India’s largest dry dock with a capacity to fabricate and assemble structures of 10,000 tonnes per month. The shipyard has advanced CNC (Computer Numerical Control) and robotic systems for cutting steel. It also has powerful hydraulic presses that can handle up to 1,600 tonnes for precise manufacturing. The facility also provides the capabilities to make large sections and offers specialized equipment for lifting of heavy items.
From importing material to final shipment, every phase of the value chain is handled on-site, eliminating the need for inland transport and multiple vendor coordination. Through this alliance, Wheel & Time will arrange extensive fleet of heavy-lift equipment, including Self-Propelled Modular Transporters (SPMTs), Hydraulic trailers, and Marine Transport Vessels, enabling the seamless movement of over-dimensional/oversized cargo worldwide locations.