Category Archives: Business

Praj Industries Names Ashish Gaikwad as MD-Designate

Pune, India – Feb 4, 2025 – Praj Industries, a global leader in bioeconomy solutions, is pleased to announce the appointment of Mr. Ashish Gaikwad as Managing Director-Designate, effective February 3, 2025. This transition marks a significant milestone in the company’s growth journey.

Mr. Gaikwad will succeed Mr. Shishir Joshipura, CEO & MD, who will complete his tenure on June 30, 2025. To ensure a seamless transition, Mr. Gaikwad will work closely with Mr.

Joshipura and the leadership team over the coming months, ensuring the continuity of Praj’s strategic priorities.

Mr. Gaikwad brings over 34 years of experience in industrial automation, digitalization, process technology, renewable energy transition, artificial intelligence, and autonomous manufacturing. He holds a Bachelor of Engineering (Honors) in Electrical & Electronics from BITS Pilani, India. Before joining Praj Industries, he successfully led Honeywell Automation India Ltd. as Managing Director for over seven years. Throughout his career at Honeywell, he held diverse leadership positions spanning India, Southeast Asia, Asia Pacific, and the USA, with expertise in project engineering, sales leadership, strategy, business management, and corporate governance.

Commenting on the appointment, Dr. Pramod Chaudhari, Founder Chairman of Praj Industries, said: “We are delighted to welcome Mr. Ashish Gaikwad to Praj Industries. His deep industry expertise and global leadership experience will be instrumental in driving our innovation-led growth strategy. Under his guidance, Praj will continue to advance its vision of a sustainable bioeconomy.”

Cooper Corporation Expands Horizons, Inaugurates Tractor Plant and Introduces First-Ever NDC Series

Mumbai / Satara: Cooper Corporation, a globally renowned manufacturer of engines, engine components and generators, proudly inaugurated its state-of-the-art Tractor Plant in Satara, Maharashtra, on Saturday, 1st February 2025. The event also marked the launch of the company’s first-ever tractor, the Cooper Tractor NDC Series, designed to revolutionize farming with its superior performance, fuel efficiency and innovative engineering.

The inauguration ceremony was graced by Shri. Ch. ShivendraRaje Bhosale, Hon’ble Cabinet Minister for Public Works, Government of Maharashtra, as the Chief Guest. The event was also attended by esteemed dignitaries, including Shri. Mahesh Shinde (Hon’ble Vice Chairman, Maha. Krushna Khore Vikas Mahamandal, MLA) and Shri Clive Bagnall, Director – Global Product Development of Ricardo, UK.

The State-of-the-Art Tractor Plant and the launch of the Cooper Tractor NDC Series are a part of the company’s ongoing mission to innovate and provide superior, high-performance machinery to the agriculture sector. The Cooper Tractor, designed for tough terrains and heavy-duty operations, comes with an array of innovative features, such as high fuel efficiency, ergonomic design and lower maintenance costs. Developed in collaboration with renowned global engineering firms such as Magna Steyr for design, Ricardo UK for engine development, Carraro for transmission and Mita for hydraulics, the Cooper Tractor promises superior performance and savings in fuel, service and operational costs and is tailored for Indian farming needs. As Mr. Farrokh Cooper is the first agriculture graduate to own a tractor factory and has his own agricultural lands, he is well aware of what exactly a farmer needs from a tractor and has provided his personal insights into the design and development of the Cooper tractor.

Shri. Farrokh N. Cooper, Chairman & Managing Director, Cooper Corporation Pvt. Ltd., expressed his vision for the new venture, stating “Today marks a historic milestone for Cooper Corporation as we step into the agricultural sector with the launch of our first-ever tractor. The Cooper Tractor NDC Series is a result of years of research, innovation and dedication to delivering a product that truly serves the needs of Indian farmers. Built with global expertise and local insights, this tractor is designed to enhance productivity, reduce operational costs and withstand the toughest farming conditions. As a company deeply rooted in Satara, we are proud to contribute to the growth of Indian agriculture and the prosperity of our farmers.”

The Cooper Tractor NDC Series is engineered to meet the diverse needs of modern farming. With features like dual-clutch transmission, power steering and a low turning radius of 3 meters, the tractor ensures ease of operation and superior performance. Its fuel-efficient 4-valve engine, Bed plate design, HLA, Bosch Fuel System, ceramic-coated rings, Piston Cooling Jet and long-life compacted graphite cylinder head, First of its kind for Long life & Durability and low maintenance, Champion at Haulage and farming operations like ploughing and rotavator, No front weight , Long tyre life, It boasts key advantages such as no engine oil top-up, longer service intervals , The tractor’s superior performance is highlighted by its easy deep ploughing, low RPM drop during fieldwork and a quick forward & reverse shuttle lever, etc. making it a reliable companion for farmers. Cooper Tractor is built to serve the world with the highest standards of excellence.

Budget reaction from Mahesh Babu, CEO of SWITCH Mobility

Mahesh Babu, CEO of SWITCH Mobility

“India’s FY25-26 budget targets economic growth with a 4.4% fiscal deficit and income tax cuts, including exemptions for individuals earning up to ₹12 lakh boost disposable income, consumer spending benefiting sectors like commercial vehicles with higher logistics demands. The budget also simplifies duties and taxes to support MSMEs, startups, and entrepreneurship.”

The exemption of customs duties on lithium-ion batteries and critical minerals such as cobalt, zinc, and lead represents a crucial step in reinforcing India’s electric vehicle (EV) ecosystem. This move will enhance the competitiveness of the EV industry, helping it to grow more rapidly and become a key player in the global market. It accelerates India’s progress toward Aatmanirbharta in clean energy and sustainable mobility solutions. These measures are expected to reduce the overall cost of EVs, making them more affordable for consumers, which directly supports the government’s ambitious target of achieving 30% EV adoption by 2030.”

Budget Reaction from Baba Kalyani, CMD

Mr. Baba Kalyani, Chairman & MD of Bharat Forge Ltd.

“ The budget presents a strong focus on the inherent strengths of the Indian economy and key economic drivers of Viksit Bharat 2047.

The 3M’s that bring me cheer are – Middle Class, MSMEs, and Make in India!

•  A big boost to the salaried middle class will accelerate economic growth
•  Revised Classification and Exports push to help Indian MSMEs go global!
•  Focussed attention on ‘Make in India’ in HiTech and labor-intensive industries will attract investments.

I also welcome the launch of the Manufacturing Mission, the Exports Promotion Mission, and the Nuclear Energy Mission.

Initiatives such as Cancer Care Centers in every district across the country will further modernize the Healthcare and Medical Infrastructure across the country.

Special development measures to boost agriculture productivity, self-reliance in pulses, and leveraging ‘India Post’ to deliver financial services are expected to drive Rural Growth.

What is noteworthy is a special mention of revamping the Bilateral Investment Treaty Model – a sign of following an India First model amidst heightened global volatility.

The hallmark of successive governments under the leadership of the Hon’ble Prime Minister has been continued thrust on ease of doing business, fiscal prudence, and investment-led growth.

Today’s Budget continues to deliver on these three levers, and I am confident that these initiatives collectively signal a robust blueprint for India’s progressive and inclusive development.”- Baba Kalyani, Chairman & MD, Bharat Forge Ltd.

Mahindra Auto Jan 2025: SUV Sales Up 18 Percent, Total Volumes Grow 16 Percent

Chandigarh, February 04, 2025: Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, today announced that its overall auto sales for January 2025 stood at 85432 vehicles, a growth of 16%, including exports.

In the Utility Vehicles segment, Mahindra sold 50659 vehicles in the domestic market, a growth of 18%, and overall, 52306 vehicles, including exports. The domestic sales for Commercial Vehicles stood at 23917.

According to Veejay Nakra, President, Automotive Division, M&M Ltd., “We began the new year by selling 50659 SUVs, a growth of 18% and 85432 total vehicles, a growth of 16%. Our Electric Origin SUVs, BE6 and XEV 9E garnered a lot of interest at the recently concluded Bharat Mobility Global Expo held in New Delhi. We commenced the test drive for these vehicles on the 14th of January and are excited about bringing these vehicles to our customers. Bookings for these vehicles will commence on 14th February.”

Jimmy Shergill Extends Journey with HMD After ‘Khoob Chalega’ Success

Chandigarh, February 04, 2025 – Human Mobile Devices today announced the renewal of its successful partnership with acclaimed actor Jimmy Shergill, extending his role as the face of HMD’s feature phone portfolio in India. The extension follows the remarkable success of the ‘Khoob Chalega’ campaign, which resonated strongly with consumers across the country.

This renewed collaboration builds upon the strong foundation established during the initial partnership, where Jimmy Shergill’s authentic persona perfectly aligned with HMD’s commitment to delivering reliable and innovative communication devices to millions of Indians.

Commenting on the extended partnership, Ravi Kunwar, CEO and VP- HMD India and APAC said, “We are delighted to extend our association with Jimmy Shergill. His genuine connection with audiences and credible screen presence have significantly amplified our brand message and innovation story to the masses. His values and appeal perfectly complement Human Mobile Device’s vision of making technology accessible to everyone.”

Jimmy Shergill expressed his enthusiasm about the renewed partnership, saying, “My journey with Human Mobile Devices has been great and our first campaign has been a huge success. I’m excited to continue this relationship. The brand’s commitment to delivering quality and dependability resonates with my principles. I look forward to being part of HMD’s continued mission to come.”

The extended partnership will see Jimmy Shergill feature in upcoming campaigns for HMD’s line-up of feature phones across various platforms. This alliance is part of the HMD marketing mix to reach out to the target audience and create buzz about the range of products to offer.

Stay tuned as Human Mobile Devices and your all-time favorite hero Jimmy Shergill embark on this exciting journey together one more time, shaping the future of mobile technology and leaving an indelible mark on the industry.

Sky Gold Surpasses Expectations with Outstanding Q3FY25 Revenue and Profit Growth

Mumbai,4th February 2025 –Sky Gold Limited (SGL), a leading Mumbai-based jewellery company specializing in the design, manufacturing, and marketing of gold jewellery, has announced its unaudited financial results for the quarter ended 31st December 2024.

Q3FY25 Consolidated Financial Performance Snapshots (Y-o-Y)

·       Revenue from Operations: Increased by 116.74% year-on-year to Rs. 997.97 crore.

·       EBITDA: Rose by 217.60% to Rs. 57.29 crore.

·       Profit After Tax (PAT): Grew by 309.10% to Rs. 36.54 crore.

 Key Financial Highlights

Operational Highlights

·       Revenue Growth: Consolidated revenues for Q3FY25 reached Rs. 997.97 crores, marking a 116.74% increase year-on-year.

·       EBITDA Performance: Achieved Rs. 57.29 crores in EBITDA, reflecting a 217.60% growth compared to the same quarter in the previous year.

·       PAT Achievement: PAT stood at Rs. 36.54 crores, a 309.10% increase year-on-year, marking the third consecutive quarter of significant PAT growth.

 Commenting on the Results, Mr. Mangesh Chauhan, Managing Director and Chief Financial Officer, said:

“Sky Gold Ltd continues its exceptional growth trajectory in the third quarter of FY25. Our Revenue from Operations surged by 116.74% year-on-year to Rs.997.97 crore. EBITDA increased by 217.60% to Rs. 57.29 crores, and Profit After Tax grew by 309.10% to Rs. 36.54 crores.

This growth is a testament to our strategic initiatives and operational efficiency. During the quarter, we successfully approved a 9:1 bonus share issue, reinforcing our commitment to enhancing shareholder value. The acquisitions of Starmangalsutra and Sparkling Chains have significantly bolstered our market position by expanding product offerings and leveraging operational synergies.

We are also excited to announce our upcoming entry into the lab-grown diamond segment, which aligns with global trends and customer preferences. This initiative will allow us to diversify our portfolio and tap into a burgeoning market, both domestically and internationally.

Our recent fundraising through a Qualified Institutional Placement (QIP) of Rs. 270 crores has further strengthened our financial position, enabling us to invest in cutting-edge technology and scale operations effectively. Additionally, the reduced import duty on gold has provided a strong tailwind, increasing consumer preference for organized markets and driving growth in demand for gold jewellery.

As we progress through FY25, our focus remains on increasing capacity utilization at our Navi Mumbai facility, strengthening our mid-management and regional sales teams, and optimizing financials through gold metal loans. These measures, combined with investments in IT, automation, and ERP systems, position us to achieve our long-term revenue target of INR 6,300 crores by FY27 and expand our production capacity to 1,050 Kgs/month within the next three years.”

Strategic Growth Initiatives

Sky Gold remains committed to:

·       Increasing Capacity Utilization: Enhancing production efficiency at its new facility.

·       Investing in Technology: Implementing IT solutions and ERP systems to streamline operations.

·       Strengthening Human Resources: Building a robust mid-management and regional sales team.

·       Financial Optimization: Utilizing gold metal loans to improve profitability and reduce borrowing costs.

Gateway Distriparks Delivers Solid Q3 Results, Highlighting Resilience and Growth

Mumbai/Delhi, 4th February 2025: Gateway Distriparks Limited (GDL), a leading multimodal logistics company in India, today announced its financial results for the quarter ended 31st December 2024.

 CFS revenue includes adjustment of reduction of INR 32.04 crores on account of change in accounting method for YTD FY25 and INR 11.85 crores for Q3 FY25.

 Financials include Total Revenue of INR 10.03 crores, EBIDTA of INR 1.24 crores, PBT of INR (-0.31 crores) and PAT of INR (-0.33) crores due to consolidation of accounts after Snowman Logistics went from being an Associate Company to a Subsidiary from December, 24 2024.

 PBT and PAT includes exceptional income of Rs. 390.77 Crs. due to fair valuation of equity on consolidation of Snowman Logistics Limited, which became subsidiary from December 24, 2024.

Prem Kishan Dass Gupta, Chairman & Managing Director, said, “Despite the Red Sea impact, especially in Q1, volumes and margins have recovered and remained steady in Q2 and Q3 for the Company. There is a healthy pipeline as the focus remains on increasing our market share, especially in the Rail Vertical. We are hopeful that the Red Sea crisis will come to an end soon and if shipping lines start using this route again there will be a significant boost to EXIM volumes for India. We continue to explore opportunities for developing new rail terminals to further expand our network. In December, GDL also met its target of crossing 50% shareholding in Snowman Logistics and is now a subsidiary.”

Shriram General Q3 FY25: GWP Up 25 Percent, Profit Rises 12 Percent

National, February 4, 2025: Driven by strong growth in motor premiums, Shriram General Insurance Company (SGI) has reported a 25% year-on-year increase in Gross Written Premium (GWP) for Q3 FY25, at Rs. 1061 Cr, up from Rs. 850 Cr in the same quarter last year. For the 9M FY25, GWP grew by 23% year-on-year, rising from Rs 2160 Cr to Rs. 2654 Cr, significantly outperforming the general insurance industry’s growth rate of 8%.

Net profit for the quarter rose to Rs 131 Cr, a 12% growth from Rs. 117 Cr in the same period last year. Investment Income rose by 13%.

Anil Aggarwal, MD & CEO of Shriram General Insurance Company, stated, “Our focused strategy in the motor sector is yielding positive outcomes. This quarter, we achieved significant progress in digital transformation. With our targeted growth approach, we are optimistic about our roadmap for the upcoming quarters.”

During the quarter SGI launched a new motor insurance product featuring usage-based pricing, allowing for personalized premiums. This initiative aims to improve affordability and accessibility, aligning with evolving customer needs.

The company also launched its indemnity-based health insurance product– Shri Health Suraksha Insurance, designed to cover a wide variety of treatments, including modern procedures and AYUSH treatments (Ayurveda, Yoga, Unani, Siddha, and Homeopathy), offering flexible options to meet the insured’s diverse healthcare needs. The new offering provides nationwide coverage, allowing access to cashless treatments at over 13,000 network hospitals with a range of options enabling individuals to choose a plan suitable to their needs.

SGI issued 17.40 Lakh policies during the third quarter of FY25, up by 3.5% YoY. The company’s solvency ratio stands strong at 3.58 as of 31 Dec 2024, well above the regulatory requirement of 1.50. The number of live policies grew to 64 Lakh, up from 61.4 Lakh in the same period last year.

The drive to onboard financial advisors gained further momentum with the company recruiting 5644 financial advisors during the quarter. The plans are to increase the number of financial advisors to 2,00,000 by 2029-30.

World’s Smallest Business Book Creates Buzz at World Book Fair 2025

New Delhi: The media buzzed with excitement, book lovers were pleasantly surprised, and business professionals eagerly awaited the unveiling. The atmosphere was charged with curiosity as Pendown Press proudly launched the World’s Smallest Business Book, titled “Top 10 Reasons Why You Must Write a Book”, at the World Book Fair 2025. As soon as the formal announcement was made, the hustle and bustle began. Amid the enthusiastic crowd, the author of this much-anticipated book, Mr. Dinesh Verma, who is also the Founder and CMD of Pendown Press, emerged on stage with his signature smile. With great fanfare, he officially launched the World’s Smallest Business Book, a game-changer in the realm of business communication.

A Revolutionary Concept: The New-Age Influential Business Card. Mr. Dinesh Verma shared the inspiration behind creating this unique book Today, you all have created your missile. However, as every missile needs a launcher to reach its target, you too need to develop insights on how to use this tool to its optimum potential in the market.”He continued, “Though this is presented to you in the form of a book, it is far more than just a book. It is a New-Age Influential Business Card.”

In his masterclasses, Mr. Verma emphasizes the power of handing out a book instead of a traditional business card. He explained how sharing a book can make a lasting impression, help build authority, and create deeper connections during networking events, seminars, and meetings. Solving a Common Business Challenge. However, some professionals expressed concerns about the practicality of always carrying full-sized books to events. Acknowledging this genuine challenge, Mr. Verma said:

“I started thinking—how can I solve this problem? After weeks of brainstorming, countless iterations, and permutations, I finally came up with what you see today: the World’s Smallest Business Book.” This pocket-sized book is designed to fit easily in a pocket or bag, making it convenient for professionals to carry and share at any time. It serves as a powerful marketing tool, helping business owners establish authority effortlessly.

Inspiring the Business Community. Mr. Verma concluded his address with an inspiring message: “I am truly blessed to have this wonderful opportunity to address you all from this prestigious platform on the very first day of the World Book Fair. Let us celebrate this occasion with joy, curiosity, and a deep appreciation for the written word. I wish you all Grand World Book Fair Days ahead! Pendown Press: Leading the Way in Authority-Building

Pendown Press has long been recognized as a pioneer in helping business owners and professionals build authority through books. The launch of the World’s Smallest Business Book is yet another testament to their innovative approach to publishing.