Category Archives: Business

Mahindra Auto Sees Robust April: SUV Sales Soar, Total Volumes Near 85K

Chandigarh, May 02, 2025: Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, today announced that its overall auto sales for the month of April 2025 stood at 84170 vehicles, a growth of 19%, including exports.

In the Utility Vehicles segment, Mahindra sold 52330 vehicles in the domestic market, a growth of 28% and overall, 54860 vehicles, including exports. The domestic sales for Commercial Vehicles stood at 22989.

According to Veejay Nakra, President, Automotive Division, M&M Ltd., “Building on the strong momentum of last year’s performance, we began the year on a strong note in April by achieving SUV sales of 52330 units, a growth of 28% and total vehicle sales of 84170 units, a 19% growth over the same month last year. These numbers indicate the strength of our portfolio and customer offerings.”

Royal Enfield Registers 86,559 Sales in April 2025

New Delhi: May 02, 2025: Royal Enfield posted monthly sales of 86,559 motorcycles in April 2025, up by 6% during the same month last year. Royal Enfield exported 10,557 motorcycles during the month ascompared to 6,832 during the same month last year registering a growth of 55% over corresponding period last year.

Speaking about the performance for the month of April 2025, B Govindarajan, Managing Director,Eicher Motors, and Chief Executive Officer, Royal Enfield, said, “After achieving the million unit sales milestone in the past financial year, this year is also off to a flying start. In April, we introduced the2025 Hunter 350 in new colourways at HunterHood — a celebration not just of the motorcycle’s agilityand youthful spirit but of the vibrant community that’s at the heart of everything we do at Royal Enfield.We also expanded our international footprint, introducing the Classic 350 in Nepal and continuing todeepen our connection with our global riding community. As we move further into the new financialyear, we are excited about what’s coming next while staying true to our core philosophyof puremotorcycling.”

Brand & Business Updates
Royal Enfield Hunter 350 Colourways Launched at HunterHood Royal Enfield launched the 2025 Hunter 350, a refreshed version of its popular street roadster, at its first-ever street culture festival, HunterHood, in Mumbai and Delhi. The event gathered riders, artists, and urban explorers. The 2025 Hunter 350 comes in three new colours and offers better ground clearance, improved comfort, a slip-assist clutch, LED headlamps, a tripper pod, and Type-C charging. Powered by the 349cc J-series engine, it continues to blend style, agility, and urban spirit, with a growing global community of over 500,000 riders.

Royal Enfield Classic 350 Launched in Nepal
Royal Enfield launched the new Classic 350 in Nepal, combining its timeless style with modern enhancements. Rolled out from Royal Enfield’s exclusive CKD facility in Nepal, the motorcycle starts at an MRP of NPR 5.55 lakhs with the entry-level Heritage variant now featuring dual-channel ABS, LED headlamps, LED pilot lamps, a Type-C USB charger, and a gear position indicator. For the first time in Nepal, ABS is standard across all Classic variants, which are offered in seven colourways across five distinctive trims — Heritage, Heritage Premium, Signals, Classic Dark, and Classic Chrome.

Flutter’s Hyderabad Global Capability Centre Surpasses 1,000 Employees

National, April 30, 2025: Flutter Entertainment (NYSE: FLUT; LSE: FLTR), the world’s leading sports entertainment operator has reached a major milestone in the growth of its business in India. The company’s Global Capability Centre (GCC)-Flutter Entertainment India LLP (FEI) delivers a broad spectrum of capabilities and is based in RMZ Spire, Knowledge City, Hyderabad, has now surpassed the 1,000-employee mark, highlighting its rapid growth and strategic importance within the Flutter ecosystem.

By harnessing the power of the Flutter Edge — the company’s unique advantage – and leveraging Hyderabad’s thriving talent landscape, local hiring grew by 60% in the past year, positioning Flutter Entertainment India as a critical enabler of Flutter’s global operations and strengthening its capabilities in Data & Technology, HR Tech and Analytics, Finance, Customer Support Operations, and Shared Services.

As part of Flutter’s global sustainability strategy, the Positive Impact Plan, Flutter allocated  GBP 30,000 to local initiatives in Hyderabad in 2024 to support cancer screening for 550 women and education in Data Science and Machine Learning for 76 students. In recognition of the initiative’s impact and Flutter’s commitment to ‘Do More,’ Flutter has doubled its investment in local initiatives for 2025.

Peter Jackson, Chief Executive Officer of Flutter, recently visited the Hyderabad GCC (FEI) and offices of Junglee Games (Gurgaon), Flutter’s leading Indian rummy brand.

During this visit, he spent time with local leadership, engaged with employees across teams, and participated in a fireside chat that highlighted Flutter’s innovation journey, organizational culture, and vision for continued growth in the region.

Speaking on the sidelines during his visit to India, Peter Jackson, CEO Flutter, said, “India is a key growth market for Flutter, and the Hyderabad GCC is integral to our continued expansion in the region. It’s been great to see the teams at the GCC grow over the past year and I’ve been hugely impressed by their role in providing our world-class brands with technology capabilities, another great example of the Flutter Edge in action.”

Ashish Sinha, Managing Director of Flutter Entertainment India, said, “The past year has been a transformative journey for Flutter in India. Since launching our state-of-the-art GCC in Hyderabad, we’ve tapped into the city’s exceptional talent and embraced India’s rising prominence as a GCC. Our vision goes beyond operational scale—we’re building a centre of tech excellence and innovation that supports Flutter’s growth globally. Additionally, through Flutter’s ‘Do More’ strategy, we’re committed to giving back to the communities where we live, work and play. Our next phase of growth will focus on our deepening expertise and further reconciling with Flutter’s global strategies.”

Coforge Divests AdvantageGo to Sapiens

Greater Noida, India, April 30, 2025: – Coforge Limited (NSE: COFORGE), a global digital services and solutions provider, as part of a recent strategic review and corporate restructuring announced the divestment of Coforge Advantage Go Limited. Coforge U.K. Limited, a wholly owned subsidiary of the company has agreed to enter into a share purchase agreement with Sapiens UK Limited for sale and transfer of entirety of shareholding held by it in Coforge Advantage Go Limited, subject to completion obligations. Sapiens will pay a base consideration of GBP 43,000,000 for the transaction which is expected to be completed in 4-6 weeks.

AdvantageGo is a leading product provider in Commercial and Specialty space with a dominant market position in Lloyd’s Syndicate Market. AdvantageGo has been in business for 30+ years and has served several marquee insurers over the years.

With over two decades of experience and more than 6,000 insurance experts, we are the trusted partner for leading global insurers in life and annuities and property and casualty space. Insurance Services will continue to be a core vertical focus and growth driver for Coforge, and we look forward to servicing global insurance clients and leveraging deep domain expertise, technology expertise and partnership eco system. This transaction will enable Coforge to sharpen its focus on the Insurance Services business.

Sudhir Singh, CEO & Executive Director, Coforge said, “AdvantageGo is a stellar product business in a predominantly IT Services organization. Divestment of AdvantageGo would resolve the channel conflict with some of our strategic partners in the P&C space and enable us to stay focused on driving very strong growth in the Coforge Insurance Services business. As a global leader in Insurance SaaS-based software, Sapiens is a great strategic fit for the AdvantageGo business. This transaction will also strengthen our go-to-market partnership with Sapiens and help further accelerate the growth of both organizations within the Insurance industry.”

Ian Summers, Global Business Leader of AdvantageGo, said: “I am immensely thankful for the opportunity to build AdvantageGo business under Coforge ownership. Joining Sapiens means becoming part of a leading global product organization that will amplify our capabilities and enhance our solutions, creating greater opportunities for our clients and team,” said. “We look forward to integrating our products into the Sapiens Insurance Platform to deliver a seamless and powerful offering for the European and North American markets. We are committed to ensuring a smooth transition and continued service excellence for all our customers.”

Equity International Completes Sale of Remaining Investments

“Equity International has been an invaluable long-term partner that helped guide SAMHI’s growth and accelerate the expansion of our platform,“ said Ashish Jakhanwala, chairman, managing director and chief executive officer of SAMHI.

“Equity International and Sam Zell recognized Ashish and the SAMHI team as high-quality partners with impressive prior experience in the hospitality sector. This sale marks the full exit of Equity International’s interest in the company, which is part of the normal course of our ongoing portfolio management activity and disciplined monetization philosophy. We wish the SAMHI team success in their future endeavors,” commented Tom Heneghan, chief executive officer of Equity International.

Titan Watches Elevates Style with New Automatics Collection

Bengaluru/Chandigarh, 30 April 2024 – Man’s fascination with the anatomy of the mechanical world is well known! Titan Watches brings this allure to life with the launch of its latest Automatics Collection, taking style deeper with every movement. This collection celebrates the elegance of visible mechanics by highlighting the intricate beauty of mechanical watchmaking. Each watch from the collection features captivating skeletal dials where intricate engineering becomes the very essence of style. From integrated bracelets to dual-finish solid link straps, each design is thoughtfully crafted to reflect with varied personalities. With 21 jewel bearings, a vibration frequency of 21,600 beats per hour, and an impressive 42-hour power reserve, the collection focuses on precision, craftsmanship, and performance, made for connoisseurs who appreciate every tick in motion.

The Titan Automatics Collection comes in four distinguished watch lines, each uniquely designed to reflect one’s distinct personality. At the heart of this exceptional collection is the Yin Yang Skeletal Automatic watch, designed with an artistic celebration of balance, featuring an extraordinary Yin-Yang skeletal dial design with refined press-pattern detailing. Available in sleek stainless steel and elegant rose gold combinations, this line makes a striking statement for formal settings.

The Phoenix Skeletal Automatic watch is inspired by the legendary phoenix, symbolizing strength and rebirth-with the bold skeletal dials intricately designed to resemble phoenix wings. The knurled crown enhances its sophisticated design and is available in monochromatic Eclipse Black and opulent Ember Rose Gold variants. Its powerful design and rich finishes make it ideal for evening wear and high-impact occasions.

The Nexus Skeletal Automatic blends contemporary aesthetics with timeless symbolism. Its unique skeletal dial, inspired by a ship’s helm, represents movement and progress, offering a glimpse into the intricate automatic movement. Available in captivating dial shades of Coffee Brown, Gunmetal, and Midnight Blue, its sporty appeal and integrated bracelet make it a versatile fit for smart casual looks and everyday sophistication.

The Golden Heart Skeletal Automatic watch is crafted for those who love to make a statement with gold. Available in bi-metal and full gold variants, it incorporates meticulous detailing through its gilded skeletal dial. This standout piece is perfect for formal occasions, celebrations, and refined evening ensembles, where a bold, luxurious touch is essential.

Commenting on the launch, Aparna Ravi, Marketing Head – Titan Watches, said, “The Titan Automatics Collection represents a significant milestone in our journey, reinforcing Titan’s commitment to innovation through timepieces that represent a harmonious symphony of advanced, sophisticated horology and contemporary style. Targeted for the discerning, style-conscious man who views his watch as a reflection of self-expression and craftsmanship, these timepieces speak before you do.”

Vividobots Raises INR 1.47 Crores in Seed Round Led by Inflection Point Ventures

Chennai, 30 April 2025: Vividobots a robotic automation startup has raised INR 1.47 Crores in a Seed Round led by Inflection Point Ventures. The funds will be utilized to enhance product innovation and expand vertical-specific robotic deployments.

Founded in 2021 by postgraduate engineers Dhinesh B (CEO), Velmurugan B (CPO), and Kesavaraj S (CTO), Vividobots was born out of a tragic incident involving a painter’s fall. This moment of vulnerability inspired the trio to innovate for real-world impact. With backgrounds at Flipkart, Air Defence Agency, and TCS respectively, the founders bring deep domain and technical expertise to the problem they set out to solve.

Vikram Ramasubramanian, Partner & CIO, Inflection Point Ventures, said, “As real estate in India continues to boom, high-rise buildings are becoming increasingly common and so are the challenges that come with maintaining them. Vividobots is tackling this head-on with innovative robotic solutions that make exterior maintenance of the building safer and more efficient. At IPV, we’re excited to support a startup that’s not just keeping pace with urban growth, but shaping its future through technology.”

Vividobots, a robotic automation startup based in Chennai, is on a mission to make high-risebuilding maintenance safer, faster, and more efficient. By leveraging AI-powered robotics, the company is revolutionizing exterior painting and cleaning operations an area historically reliant on manual labor and prone to fatal risks. Their solutions significantly reduce time, cost, and material wastage while improving safety and precision.

Vividobots is currently operational in Chennai, with plans to scale into new metros where real estate growth and vertical maintenance are surging. The startup’s robotic systems deliver up to 70%-time savings, 50% cost reduction, and 15% lower material wastage, setting a new benchmark in high-rise operations. Their proprietary technology ensures AI-powered precision, safety, and repeatability—making exterior maintenance predictable and scalable.

“At Vividobots, we are revolutionizing the way robotics address real-world challenges. Inspired by the delicate balance of human effort and resilience, we are steadfast in our mission to build a future defined by safety, speed, and sustainability. Our partnership with IPV fuels our drive to innovate boldly, push boundaries, and redefine the possibilities of robotics and its impact on society,” said Dhinesh B, CEO.”

Among its key milestones, Vividobots was named one of the Top 10 Tech Startups in Real Estate by Mahindra LEAP 2023 and is a part of the Brigade REAP accelerator portfolio.

Toyota Kirloskar Reaffirms Long-Term Road Safety Commitment in India

Bangalore, 30 April 2025: In alignment with its vision of building a safer and more responsible mobility ecosystem, Toyota Kirloskar Motor (TKM) reiterates its long-standing commitment to advancing road safety through structured initiatives across the country. TKM’s efforts span awareness, education, and innovation, positively impacting over 10 lakh individuals through its comprehensive road safety programs.

At the heart of Toyota’s safety commitment is the Toyota Safety Education Program (TSEP), a flagship initiative launched in 2007 to nurture road safety awareness and behavioural change among school children from 5th to 9th standard in government and private schools. Under the theme “Road Safety – My Right, My Responsibility,” the initiative empowers young minds through a proven ABC approach—Awareness, Behavioural Change, and Campaigns. Using engaging formats such as skits, poster-making, and Road Safety Clubs, awareness levels among participants have increased significantly, underscoring the program’s effectiveness in instilling critical road safety knowledge.

To date, TSEP has reached 9,29,288 students, supported by 1643 trained educators across 140 schools since FY23. It follows a sustained three-year intervention model:

• Phase 1: Implemented in Bangalore during FY 2023–24, with the final leg concluding in FY 2025–26.
• Phase 2: Currently ongoing across Bangalore, Delhi, and Mumbai in FY 2024–25.

Notably, the program adopts a child-to-community model, wherein each participating student becomes a road safety ambassador—spreading knowledge and safe practices within their homes, neighbourhoods, and peer groups. This ripple effect is instrumental in transforming community-level attitudes toward responsible road usage. The program’s momentum is maintained through annual engagements across Bangalore, Delhi, and Mumbai, with continued integration into school curricula for long-term behavioural impact, supported by active involvement from teachers and schools.

Complementing TSEP is the Toyota Hackathon, a youth-led innovation platform that nurtures creative thinking and solution-building among school students from 7th to 12th grade. Designed to solve real-world road safety challenges, this initiative has reached 77,200 students across regions. Conducted in Delhi, Mumbai, and Bangalore, the hackathon has generated over 350 innovative concepts covering school zone safety, IoT integration, inclusive infrastructure, and traffic flow management. Participants go through a five-phase journey—from ideation to incubation—with expert mentorship and continued engagement to develop implementable prototypes. The initiative aims to equip students not just as problem solvers but as “Change Agents” influencing broader societal behaviours and policy thinking.

To further amplify enforcement and community education, TKM has supported the setup of seven Traffic Parks across regions, creating simulated environments where school children can learn road safety rules and pedestrian behaviour in a practical and engaging manner.

Recognizing the critical role of commercial drivers, TKM’s Road Safety and Health Initiative in Mizoram has benefitted 800 drivers through structured awareness and health check-up drives, conducted in collaboration with local enforcement and medical teams. These sessions cover road discipline, vehicle maintenance, and mental well-being. Cumulatively, the program has benefitted 7,822 individuals.

To strengthen traffic monitoring infrastructure, 34 Automatic Number Plate Recognition (ANPR) systems and 20 CCTV cameras have been installed at key junctions across Mizoram, contributing to a reduction in violations and encouraging compliance. These interventions now benefit over 4 lakh road users.

Speaking on the company’s continued efforts, Mr. Vikram Gulati, Country Head and Executive Vice President – Corporate Affairs and Governance, said, “At Toyota Kirloskar Motor, road safety is a fundamental commitment deeply embedded in our vision of responsible mobility. Through structured educational programs, targeted innovation, and meaningful community collaboration, we strive to instill a culture of safety across diverse road users—from school children and youth innovators to drivers.  Our holistic approach is designed to drive lasting behavioral change with measurable impact. With every step, we are working towards our vision of zero road fatalities in India.”

Toyota’s road safety initiatives are anchored in its global 3-pillar approach—people, vehicles, and traffic environment—supported by a legacy of programs dating back to the 1960s. With a focus on sustained impact and collaboration, Toyota Kirloskar Motor remains committed to building a safer, smarter, and more responsible mobility future for every road user in India.

Resilience Amid Market Swings: Powered by Strong, Diverse Revenue and Profit Gains

Chandigarh, April 30, 2025: KFin Technologies Limited announced its financial results for the quarter and year ended 31st March 2025 today.

Financial Highlights – Q4FY25
− Revenue from operations stood at ₹ 2,827.0 million, up 23.8% y-o-y

− International and other investor solutions revenue up by 16.3% y-o-y; VAS revenue up by 57.1% y-o-y

− EBITDA stood at ₹ 1,222.5 million, up 16.9% y-o-y, EBITDA margin at 43.2%

− PAT at ₹ 850.5 million, up 14.2% y-o-y, PAT margin at 30.1%

− Diluted EPS stood at ₹ 4.91, up 13.6% y-o-y

Financial Highlights – FY25
− Revenue from operations stood at ₹ 10,907.5 million, up 30.2% y-o-y

− International and other investor solutions revenue up 26.2% y-o-y; VAS revenue up by 53.2% y-o-y

− EBITDA stood at ₹ 4,790.0 million, up 30.7% y-o-y, EBITDA margin at 43.9%

− PAT at ₹ 3,326.3 million, up 35.2% y-o-y, PAT margin at 30.5%

− Diluted EPS stood at ₹ 19.27, up 34.3% y-o-y

− Cash and cash equivalents at ₹ 6,595.7 million as on March 31, 2025

− Dividend of ₹ 7.50 per share proposed and declared by the board, subject to shareholders’ approval

− Non-domestic mutual fund revenue share in overall revenue is at 29% in FY25

Business Highlights
− Entered into a definitive agreement5 to acquire controlling 51% stake in Ascent Fund Services (Singapore) Pte. Ltd. to expand global fund administration business with a defined path to 100% ownership over the next five years

− Overall AAUM1 growth at 25.9% y-o-y vs. 24.6% for the industry, market share1 at 32.4%

− Equity AAUM1 growth at 26.4% y-o-y vs. 27.6% for the industry, market share1 at 33.3%

− Won contracts from two AMCs for development of digital assets and development of interactive SOA respectively

− Added 9442 new corporate clients and 8 million2 investor folios under issuer solutions; Market share3 in NSE500 companies at 49.6%

− Number of international clients increased to 764; Overall AAUM4 grew 33.5% y-o-y to ₹0.8 trillion; Won a multi-year FA

platform deal from a large Trustee5, a fully managed FA service deal from an AMC and a full service DTA deal from a financial intermediary in Malaysia; Won a full-service TA deal from an AMC in Philippines

− No of alternate funds at 5694; Market share4 at 36.8%; AAUM grew 47.2% y-o-y to ₹ 1.5 trillion4; Won 34 new AIF funds;

Won two deals for the wealth platform

− NPS subscriber base4 grew to 1.62 million, up by 32.4% y-o-y vs. 12.2% y-o-y growth for the industry; Market share4 in overall subscribers’ base at 9.8% as on March 31, 2025, up from 8.3% as on March 31, 2024

Commenting on the company’s performance, Sreekanth Nadella, Managing Director and CEO, KFin Technologies Limited said, “It’s been an incredible year for KFintech. Our focus on strong execution continues to deliver all round performance in terms of strong growth in revenue, profitability, and cashflows across our diversified business model. Our businesses in India and Southeast Asia continues to demonstrate strong momentum with new client wins and market share gains. We are excited to have orchestrated our transformational and the largest acquisition of Ascent Fund Services having multi-jurisdiction presence, diversified set of clients, well-experienced team, and strong growth. By combining Ascent’s client acquisition capabilities with KFintech’s technological expertise and our strategic partnership with BlackRock’s Aladdin Provider Network, we are well-positioned to drive growth and market leadership and create long-term value for all stakeholders.”

Shoppers Stop Q4 Revenue at Rs 1022 Cr, FY24 Revenue Rises 5 Percent to Rs 4436 Cr

Mumbai, April 30, 2025: Shoppers Stop Ltd., a leading department store with premier fashion and beauty brands, has declared its results for the quarter ended 31st March 2025.

Key financial highlights for Q4 FY25:

(In Rs Cr)

*GAAP sales lower by Rs 41 Cr due to reclassification of few vendors from ROR to SOR, save this, growth +6%

Financial highlights for FY25:

(In Rs Cr)

*GAAP sales lower by Rs 41 Cr due to reclassification of few vendors from ROR to SOR, save this, growth +6%

Management Comments:

Commenting on the Q4 performance, Mr. Kavindra Mishra, MD and CEO of Shoppers Stop Ltd, he said, “Shoppers Stop delivered consistent performance despite continued softness in demand and a challenging macro environment. We achieved 4% revenue growth with 3% Like-for-Like growth (Non-GAAP), marking the second consecutive quarter of LFL growth. Our two campaigns “India Weds with Shoppers Stop” a comprehensive wedding shopping experience, offering a wide array of wedding-related products and services and “Gifts of Love” an initiative featuring a range of products designed to be given as gifts, celebrating love in various forms are successful.

Our strategy of premiumization continues to yield strong results, with premium brands contributing 65% of total sales, +7% YoY. This emphasizes our position as a destination of choice for modern Indian consumers seeking aspirational and world-class experiences. Our First Citizen loyalty program continues to be a cornerstone of our success, driving 82% of sales with growing repeat engagement.

Despite the gradual demand recovery, we are optimistic due to structural changes like premiumization, customer engagement campaigns, and India’s rising affluence and evolving consumer aspirations. We will continue to build strong momentum in premiumization, Beauty and value fashion INTUNE and focus on experiential retail, digital personalization, expansion to drive sustainable growth in FY26 and beyond.”

Performance of strategic pillars in Q4FY25:

• First Citizen –First Citizen Members contributed 82% to our sales, of which 69% were repeat and the balance 13% from new members. Our Premium Black Card members contributed 16% to our sales,

+38% YoY. Our customer engagement activities continued with round the clock programs and campaigns. The AI personalized video led to 2X increase in conversion.

• Beauty – Beauty delivered Sales of Rs 209 Cr, (6% YoY) excluding distribution business and Rs 264 Cr

+3% YoY including distribution. Our customer engagement continues with 60K+ makeovers, 115+ Master Classes and 10 beauty Soirée events. We opened First “PRADA” boutique during the quarter, further enhancing our luxury beauty portfolio.

• Beauty Distribution – Global SS Beauty Brands Limited, our 100% subsidiary continues to outperform with sales of Rs 67 Cr during the quarter +61% YoY growth and year to date Sales of Rs 236 Cr with profitable growth. We expanded our network to 25 Retailers/460+ POS and strengthened our distribution by partnering Zepto in Quick commerce and Wellness Forever in the Pharmacy segment.
• Private Brands –With a continued focus on profitability, Private Brands sales were at Rs 145 Cr, contributing 11% to overall sales and 16% in the Apparel segment, with improved productivity and higher intake margin. This was supported by the usage of digital prints, natural and sustainable fabrics.
• INTUNE –Added 15 new stores during the quarter and 52 during the year. As at Q4 end, we have 71 Intune stores across 30 cities. INTUNE generated sales of Rs 54 Cr in Q4 and year to date Rs 192 Cr. The focus remained on productivity improvement for the current portfolio.
• Store Expansion – We launched 21 stores in this quarter, including 5 Department, 15 INTUNE, 1 Beauty stores. The total capex investment was Rs 52 Cr in Q4 and Rs. 192 Cr in FY25.