Category Archives: Business

Gokaldas Exports 3QFY25 PAT Soars 65 Percent; Income Up 79 Percent to Rs1001 Cr

Gokaldas Exports registered a robust total income growth of 79% and 65% growth in profits on a YoY basis in 3QFY25. The company, during the quarter ended December 31, 2024, reported a consolidated total income of
₹ 1001 Crore compared to ₹ 560 Crore in the same quarter last year and a consolidated profit after tax of ₹ 50 Crore compared to ₹ 30 Crore in the previous year 3QFY24.

Key Highlights:

Commenting on the company’s third quarter, Mr. Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director of Gokaldas Exports said, “In 3QFY25 Gokaldas Exports has reported significant jumps in our reported total income, PAT and EBITDA. We have crossed the Rs 1000 crore total income milestone for the first time in the quarter. EBITDA margins improved sequentially, indicating a healthy performance. We expect business volume to pick up in both the acquired entities in upcoming quarters with the sustained stable performance of the company going forward.”

SBI Chairman CS Setty on RBI Policy

Mr. CS Setty, Chairman, SBI:

“The RBI decision to start the easing cycle with a 25-bps cut was timely, contextual, and also well communicated with respect to regulatory changes in transition to ensure a seamless and non-disruptive manner. The RBI growth and inflation forecasts for FY26 clearly show the delicate tradeoff between growth and inflation. The regulatory announcement on forward contract, reviewing trade settling cycle and addressing cyber security in banks and payment systems will ensure better price discovery, more broad basing of participants and ensuring trust in digital banking.”

RBI Policy Insights: Ranen Banerjee, PwC India

Ranen Banerjee, Partner and Leader, Economic Advisory, PwC India

“The new RBI Governor and the MPC delivered the widely accepted 25bps policy rate cut with policy stance as neutral leaving room for it to take further actions in its next meeting. The MPC would have got comfort from the expectation of moderating food inflation and under check core inflation giving an inflation estimate for FY26 at 4.2%. It has delivered the required monetary policy support to the economy and this combined with the consumption boost from the tax relief announced in the budget should give momentum to demand and push the FY26 growth rate to the higher end of the 6.3% to 6.8% growth range anticipated in the Economic Survey.”

RBI Monetary Policy Reactions by Essar Groups’ spokespersons

by Mr. Pankaj Kalra, CEO, of Essar Oil and Gas Exploration and Production Limited

“Under the guidance of new Governor Mr. Sanjay Malhotra, RBI’s decision to cut the repo rate by 25 basis points, is a move that signals a supportive approach toward sustaining economic growth. This reduction, after nearly five years, will help ease borrowing costs and provide much-needed liquidity to key sectors. For the oil and gas industry, a lower interest rate environment will encourage investment in exploration, infrastructure, and energy transition projects, ensuring a stable and efficient energy ecosystem.”

Enclosed below is the RBI monetary policy reaction quote by Mr. Srinivasan Vaidyanathan, Operating Partner, Essar Capital.

“We welcome RBI’s decision to cut the repo rate by 25 basis points. Led by RBI’s new Governor Mr. Sanjay Malhotra, this rate cut is a timely and strategic move that will provide much-needed momentum to India’s investment cycle. By lowering borrowing costs, this decision will not only support business expansion but also create an environment conducive to long-term capital deployment across key sectors. For investors and businesses alike, a neutral monetary stance, stable inflation, and a projected 6.7% GDP growth signal confidence in India’s economic trajectory.”

Bakingo’s “Layers of Love” Campaign Adds a Sweet Touch to Your Valentine’s Day Celebrations

New Delhi, 10 February 2025 – This Valentine’s Day, Bakingo, a leading online bakery, is spreading love in its most delicious form by launching its “Layers of Love” campaign. Bakingo’s desserts are crafted with layers of flavours, emotions, and memories, honoring the beauty of relationships. From classic favourites to unique fusion creations, each dessert reflects the intricacy behind crafting it.

To bring this vision to life, Bakingo’s Valentine’s collection features an exquisite range of desserts, each reflecting the essence of love in its many forms. From rich, multi-layered cakes symbolizing deep connections to delicate pastries representing tender moments, every creation is designed to make celebrations more meaningful. Just as love is built over time with shared laughter and memories, Bakingo’s desserts focus on precision and the finest ingredients, ensuring every bite is a celebration.

Commenting on the campaign, Mr Himanshu Chawla, Co-founder, Bakingo, said, “At Bakingo, we believe that love isn’t just about the grand gestures, it’s about the little moments that create lasting bonds. With ‘Layers of Love,’ we wanted to translate those emotions into delightful desserts that tell a story in every layer. Whether it’s our top-selling heart cakes or a personalized desserts, we want to be a part of every celebration and make Valentine’s Day extra special for our customers,”.

With “Layers of Love” Bakingo continues its tradition of making every celebration sweeter and special, ensuring that love is cherished in its most flavourful form.

Raymond Limited Announces 5th Major Joint Development Agreement

Chandigarh, 8 February 2025: Raymond Limited (the “Company”) is pleased to announce that its 100% owned step-down subsidiary, Ten X Realty West Limited, has signed a Joint Development Agreement of a prestigious residential project in the prime location of Mahim West, Mumbai.

This landmark project is estimated to have a revenue potential of approximately Rs. 1,800 crore and marks the Company’s second venture in this sought-after area of Mumbai. This also represents the 5th project undertaken by the Company outside of its existing developments in Thane, underscoring its strategic expansion within the Mumbai Metropolitan Region (MMR). This project will be the second residential project that the company will be developing in Mahim West, Mumbai.

This significant development aligns with Raymond Limited’s growth strategy to capitalize on opportunities within the dynamic MMR real estate market. The project is poised to contribute substantially to the Company’s future growth and solidify its presence as a key player in the region. With the addition of this project, the Gross Development Value of Real Estate projects of the company will be close to Rs. 35,000 crores

Life Insurance Council Announcement | New Business Data- Jan 2025

Mumbai, 8th February 2025: The Life Insurance Council has released updated industry business numbers for January 2025, revealing positive trends in key areas. New business premiums (NBPs) underwritten by Indian life insurers have achieved a YTD growth of 7.78% compared to the same period last year. YTD collections grew from ₹283833.52 Crs to ₹305912.09 Crs this year. The life insurance industry saw individual single premiums growing by 16.26% on a Y-o-Y basis, closing at ₹4127.67 Crs for Jan’25, with YTD growth at 14%. Individual non-single premiums reached ₹10632.32 Crs, growing by 10.52% in Jan’25, and YTD collections settled at 14% higher than the corresponding period last year.

This strong performance can be ascribed to the fact that life insurers are increasingly focusing on encouraging first-time life insurance buyers to buy essential life insurance solutions, contributing to the 12.07% growth in combined individual premium collections for the month of Jan’25 and 14% growth on a YTD basis.

The life insurance industry in India has been making significant strides forward by expanding access to insurance and making an effort to reach out to areas and segments of the country’s population that were previously underserved when it comes to their insurance needs. Towards this end, life insurers added more than 872055 individual life insurance agents, with an overall 4.82% growth in cumulative agent count. Still, the sustained pace of agent addition is being complimented by the high speed of digitization by life insurers, paving the way for additional gains in insurance penetration that should provide a significant boost to new business premiums in FY25 and beyond.

FADA President C S Vigneshwar on EV Performance in January 2025

FADA President, Mr. C S Vigneshwar on January’25 EV Performance

“Electric Vehicle retails continued their strong trajectory in January’25, reflecting growing consumer acceptance and robust OEM commitment to clean mobility. The recent Bharat Mobility Global Expo strongly reflected this shift, with the spotlight firmly on green-energy vehicles and industry determined to accelerate the shift toward green energy. With over 30–35 new EV launches expected this year, we anticipate a notable rise in market share across all segments—from two and three-wheelers to passenger and commercial vehicles. The future for electric mobility looks exceedingly bright and we believe it will play a pivotal role in shaping India’s automotive landscape in the months to come.”

Reaction on MPC Announcement

Satish Chandra Aluri, Lemonn Markets Desk

“MPC unanimously voted to reduce the policy rate by 25bps to 6.25% from 6.50% – As widely expected. They unanimously decided to continue with “neutral” stance with an unambiguous focus on inflation.

They also noted that while growth is recovering, it remains below last year’s level, and inflation trends allow for rate easing, RBI Governor Sanjay Malhotra said in his first policy meeting post his appointment in December.

In our view, the outcome was largely along the expected lines with the new governor delivering the first rate cut as widely expected. RBI’s forecasts indicate continued moderation in inflation while growth pick-up is expected to be more gradual indicating the emphasis on supporting growth from a policy perspective while maintaining the “neutral” stance gives them the flexibility to address potential inflation concerns with an eye toward global developments like trade war.”

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ICC DG Dr. Rajeev Singh on RBI’s Repo Rate Cut

Dr. Rajeev Singh Director General, Indian Chamber of Commerce

In regards to the statement issued by RBI on reducing the repo rate, Dr. Rajeev Singh, Director General, of the Indian Chamber of Commerce (ICC) said, “The Reserve Bank of India (RBI) has reduced its key repo rate for the first time in nearly five years by 25 bps from 6.5% to 6.25%. When this rate cut is coupled with the Income Tax Cuts in the Union Budget we feel that the Indian Economy would get both Fiscal and Monetary Boost to move on to a higher growth path. This is an ideal measure with inflation nearing the desired level of 4%.”