Category Archives: Business

Bank of Baroda Marks Yoga Day 2025 with Focus on Employee Wellness

Mumbai, 21st June, 2025: Bank of Baroda (Bank), one of India’s leading public sector banks, celebrated the International Day of Yoga 2025 across all its offices as part of its comprehensive BOB Employee Health and Wellness Framework. Demonstrating its long-term commitment to employee well-being, Bank of Baroda launched daily live online Yoga & Meditation sessions in November 2024, to encourage employees and their families to invest 30-minutes every day in their physical and mental health.

On International Day of Yoga, the Bank organised in-person Yoga sessions for employees across locations, led virtually by a certified Yoga instructor. Further, it recognised staff members who have consistently attended the online yoga sessions since Nov 2024.

In the run-up to the Bank’s 118th Foundation Day on July 20, Bank of Baroda also announced the launch of the ‘Rise with Yoga’ campaign, an initiative to motivate employees to experience the many benefits of regularly practicing yoga.

Speaking on the occasion, Shri Lal Singh, Executive Director, Bank of Baroda said, “At Bank of Baroda, the health and welfare of our employees is our top priority. Yoga offers numerous benefits – it improves fitness, reduces stress and promotes overall well-being – that contribute meaningfully to both personal fulfillment and professional excellence. Our focus on our employees’ health and wellness represents our commitment to creating an environment where every employee can thrive physically, mentally, and emotionally.”

Bank of Baroda has prioritised health and wellness as a core strategic initiative. The Bank’s Employee Health and Wellness Framework is comprehensive & holistic by design, covering Physical Health, Mental Health & Emotional Wellbeing and Other Health & Wellness initiatives.

Anil Agarwal highlights Silver as the New-Age Safe Haven and Catalyst for Innovation

In a recent social media post, Anil Agarwal, Chairman of Vedanta, emphasized the growing strategic and investment significance of silver in today’s dynamic global landscape. Drawing a comparison with traditional safe-haven assets, he wrote, “Historically, in times of uncertainty, we know that the US dollar and gold become safe havens for investors. Now, in a very unpredictable world, where the dollar is no longer totally safe and gold prices are at record highs, silver is emerging as an investor safe haven.”

With silver prices soaring to a 13-year high of $37 per ounce, the surge is being driven not only by investor demand but also by its expanding role across emerging technologies such as solar cells, artificial intelligence, nanotechnology, aerospace, and more.

Mr. Agarwal also issued a clarion call to India’s young entrepreneurs and jewellery designers to explore the untapped potential of silver as a viable and fashionable alternative to gold. “Silver jewellery also has great potential to compete with gold. An opportunity for young designers and startups,” he noted.

Vedanta Chairman Anil Agarwal has been a long-time advocate for reducing India’s silver import dependency and is committed to bolster the domestic value chain. Hindustan Zinc, Vedanta’s subsidiary, is among the top five global producers of silver, currently catering to nearly 10% of India’s silver demand. Looking ahead, Vedanta plans to double its silver output to 1,500 tonnes, supported by a bold and ambitious capacity doubling expansion plan.

Peps Mattresses goes hyperlocal with quirky and relatable campaign

National, June 21th, 2025: Peps Industries, India’s leading spring mattress brand, has launched “Spring is King”, a multilingual TVC campaign that brings together authentic everyday humour and an emphatic storytelling to the science of great sleep that busts myths about mattresses. As part of the campaign, Peps has launched a series of 7 ads showcasing insightful everyday moments at home to educate consumers about the truths behind natural spring mattresses vs their current synthetic option.

The ads offer a memorable peek into how Peps Pocket Spring mattress, backed by unique Marvellous Middle Advantage, Zero Disturbance Technology, Individually adjusting, resilient Pocket Spring inner-transforms not just sleep but wellness.

In an age where sleep has become the ultimate luxury, Peps’ new campaign narrates catchy stories around the real hero of the bedroom: the mattress. The ads depict relatable everyday situations; The Peps couple who slept really well & now have to entertain their child who missed the school bus, the wife who wakes up when her well meaning husband accidentally wakes her up when he sits on the bed & the mattress disturbs her, and two friends joking around fake promises made by mattress companies. The humor, however, is not just for laughs, it gently nudges viewers to realise how mattress companies are fooling consumers with claims about new inventions.

The Peps campaign caters to various sleep-centric needs of consumers and positions Peps’ innovative range as the ultimate solution. From the mattress, which adjusts to the sleeping style and adapts to different body contours, to ensuring no more midnight nudges, discomfort, or sagging centers, each ad ends on a humorous and heartwarming note. It underlines the deeper message: the comfort of a great night’s sleep.

Mr. G. Shankar Ramm, CEO, Peps Industries, speaking about the campaign said, “At Peps, we believe sleep is deeply personal to every individual and undeniably one of the most crucial aspects of physical and mental wellness. Peps’ Spring mattresses are thoughtfully engineered for harmony, whether it’s couples, families, or pet lovers, catering to the diverse sleep needs of consumers across India.  We have explored coir, foam, and everything in between, but I believe one thing firmly: for Indian sleepers, Spring is king. We are on a mission to “Bring Back Spring”.

 In our new campaign, to speak awareness around mattress tech, we have blended the beauty of individual comfort with the joy of collective humor. We’ve used laughter to make science relatable for consumers, showcasing how our spring mattresses adapt to each sleeper’s unique needs, ensuring a restful night’s sleep for all”

The campaign was conceptualised by Brand Consultant Renuka Jaypal in collaboration with Southern Specialist Film Makers Arabbhi Atiya & Avinash.

Renuka Jaypal, Brand Director, said “PEPS was a South-first campaign, thought and written in Tamil and Malayalam. Later transcreated with heart. Real voices of Real people are not borrowed, not adapted.  In a shouting mattress market,  we softly sang a lullaby. Only a brand that truly understands sleep can own that. With Chinmayi’s voice, PEPS became the sound of real sleep”

Rishi Sunak and Akshata Murty Deliver Stanford Commencement Speech

Akshata Murty and Rishi Sunak delivered the Stanford Graduate School of Business Commencement Speech to mark the centennial year of the GSB. The couple, who met at Stanford, reflected on what they had learnt from each other and their experiences over the last twenty years. Their speech—titled Data, Dreams and Dharma—explained how their commitment to the concept of Dharma had brought them together and guided their actions in life.

The segment below captures their thoughts on Dharma, a principle that has shaped both their personal and professional lives.

Rishi Sunak:

The third lesson is what we’ve learned together about the importance of worrying far less about the outcome. It’s a concept known in Sanskrit as Dharma – the idea that we should gain fulfilment from simply doing our personal duty…rather than from the rewards that may come with our efforts.

Akshata Murty:

Rishi and I started talking about this, without knowing it, right at the very beginning, as we were just getting to know each other, when we’d meet up in Arbuckle café for breakfast and discuss what the future might hold. That and whether 11am was too early for a slab of Cold Stone icecream. Turns out it’s never too early for Rishi by the way. The concept of Dharma has been an ongoing conversation and our guiding principle ever since.

Successes and failures are part of the package that comes with leadership and it doesn’t matter who you are, in business or in politics, you will feel that on a deeply personal level, not least because the criticism can be relentless, noisy and distracting.

Rishi Sunak:

Obviously, you don’t walk through the door at number 10 without understanding this. But I am so grateful that Akshata and I shared a commitment to Dharma, especially at the hardest moments. It got us through together.

In the summer of 2023, I failed in my bid to be leader of the Conservative Party and PM. It was a real blow but the flip side of that disappointment was that I got to spend time with my family after a gruelling few years. It felt good focusing on being a Member of Parliament, a husband and a dad: our girls were thrilled they got to go to TGI Fridays more often; the dog was thrilled to go for more walks; and even Akshata was thrilled, I think, to have her running partner back, this time with considerably better gear.

Six weeks later, my predecessor resigned. There had been a run on the pound, inflation was at a 40-year high, and the opposition party had a 36-point poll lead that would require a monumental turnaround, even at the best of times.

Now all politicians, if they’re being truly honest, are a mixture of ambition and duty. A purely ambitious politician would at this point have sat out the impossible situation. That weekend, Akshata and I were in different places so could only speak on the phone in snatched moments. But she reminded me that my dharma was clear: it was my duty to do the job because I felt I could help my country in a very difficult situation, and two days later, I became Prime Minister. It was a battlefield promotion at a time of crisis and one I’ll always be proud of.

Akshata Murty:

 So, here’s the lesson: Dharma isn’t just relevant in public service…it means that you’ll have the resilience and clarity you need to overcome whatever’s thrown at you, without losing your way or being submerged by ego. It’s not only a fulfilling way to live your life; it will enable you to do more than you ever thought possible.

BenQ Unveils PV3200U and Next-Gen Pro Monitors at Kochi Photo Fair

BenQ showcases exclusive preview of PV3200U Monitor made for Video Editors, along with Next-Gen Professional Monitors for Designers, Photographers and Creators at Kochi Photo Fair

Kochi, June 21, 2025: BenQ, a global innovator in visual display technology, is making headlines at the All Kerala Photography Association’s Photo Fair in Kochi from June 19–21, 2025. At this premier event, BenQ has put the spotlight on its latest range of professional monitors—purpose-built for designers, photographers, —alongside an exclusive preview of the upcoming PV3200U monitor, tailor made for video content creators to be launched soon.

Powering Kerala’s Creative Growth

With Kerala’s creative industries rapidly evolving and demanding world-class tools, BenQ’s advanced display solutions are poised to deliver unmatched visual clarity, color accuracy, and workflow efficiency, empowering the region’s creative talent to reach new heights. BenQ’s new lineup is designed to empower photographers, designers, video editors, and content creators with the precision, color accuracy, and efficiency needed to excel in today’s competitive landscape.

“As Kerala rapidly emerges as a creative powerhouse in animation, VFX, and digital content, BenQ is proud to support the region’s talented professionals by bringing our latest innovations to the Kochi Photo Fair,” said Mr Rajeev Singh, Managing Director, BenQ India and South Asia. “Our new lineup of professional monitors is designed to empower designers, photographers, and video editors with global-standard color accuracy, clarity, and workflow efficiency. We are excited to connect with the creative community in Kerala and help them achieve new heights with tools that match their ambition and artistry.”

 Featured Monitors on Display

PD2730S – 5K Precision for Mac Designers and VFX Artists:

A 27-inch 5K monitor, the PD2730S is crafted for Mac-based designers, artists, and VFX professionals who demand pixel-perfect detail. Its high resolution closely matches RAW material, making it ideal for intricate scene design and gaming visuals.

PD3226G – World’s First 4K 144Hz Professional Monitor:

The PD3226G offers a 32-inch 4K UHD display with an ultra-smooth 144Hz refresh rate, providing game developers, VFX artists, and motion graphic designers with exceptional color accuracy and seamless visuals for demanding creative workflows.

PD2706QN – 2K 100Hz for Designers:

This 27-inch monitor delivers 2K resolution and a 100Hz refresh rate, promising both precise color reproduction and smooth motion—perfect for designers seeking a balance of clarity and fluidity.

Exclusive Preview: PV3200U – The All-in-One 4K Video Editing Monitor

BenQ also offered an exclusive preview of the yet-to-be-launched PV3200U, a 32-inch 4K monitor developed specifically for video creators and YouTubers. The PV3200U is a 32-inch 4K monitor purpose-built for video creators and YouTubers, featuring BenQ’s renowned AQCOLOR technology for industry-leading color accuracy with 95% P3, 100% Rec.709, and 100% sRGB coverage, all factory-calibrated to Delta E ≤ 2. It ensures seamless color consistency across Mac and Windows devices with M-book Mode and ICCsync, while its integrated 2.1 channel audio system—including dual 2W speakers, a dedicated 5W woofer, and Studio Mode—delivers clear, unprocessed sound for precise audio editing. The PV3200U also streamlines workflows with a single USB-C connection for 4K video, data transfer, and up to 65W charging, and offers ergonomic adjustments for comfortable, long editing sessions—making it an all-in-one solution for today’s demanding content creators.

 Experience the Future of Creative Workflows

Attendees at the Kochi Photo Fair have the unique opportunity to experience BenQ’s full range of professional monitors firsthand—including the exclusive, not-yet-launched PV3200U—demonstrating BenQ’s commitment to supporting and elevating India’s creative professionals with world-class technology.

Icon Facilitators’ IPO opens for subscription on Tuesday, June 24

June 21, 2025: Icon Facilitators Limited, a technical facilities management services provider in North India, announced that its initial public offering (IPO) will open for subscription on Tuesday, June 24, 2025. The issue will open on Tuesday, June 24, 2025 and will conclude on Thursday, June 26, 2025. The company intends to raise ₹19.11 crore from the offering and aims to be listed on the BSE SME platform. The price band for the issue has been fixed at ₹85 – ₹91 per share, and the lot size will be 1,200 equity shares.

Khambatta Securities Limited is the sole Book Running Lead Manager to the Issue, and Maashitla Securities Private Limited is the Registrar.

The IPO will comprise a fresh issue of 21 Lakh Equity Shares with a face value of ₹10/- through the book-building route. As many as 1,05,600 equity shares have been reserved for the market maker, 9,46,800 equity shares allocated for the HNI portion, 1,00,800 equity shares for net QIB, and the Retail (RII) portion accounts for 9,46,800 equity shares.

According to the RHP, Icon Facilitators Limited intends to utilise ₹16 crore of the total IPO proceeds towards working capital requirements and plans to use the remaining capital for general corporate purposes.

Icon Facilitators Limited primarily provides technical facilities management services, such as Electrical Services, Captive Power Services, STP/ETP and Water Treatment, HVAC Services, Building Management Services (BMS), Fire & Safety Equipment, Elevators Escalators Operations & Maintenance and Annual Maintenance contract of E & M Equipment.

The Company has recently taken up a project for the public sector company NBCC (India) Limited, situated at Delhi. Having a major presence in Haryana, Uttar Pradesh and Delhi with 68, 34 and 22 sites, respectively, the company also operates in other states, including Rajasthan, with 04 sites, Punjab, and Himachal Pradesh, with 01 site each.  Icon Facilitators has recently opened a new office in Bengaluru as part of its strategic expansion into the southern region of the country and anticipates significant business growth in the region. The company has managed an area of 120 million Sq. Ft, 108 million Sq. Ft, and 100 million Sq. Ft, in the fiscal year 2025, 2024 and 2023 respectively, demonstrating its growing presence and commitment to delivering comprehensive facility solutions.

Icon Facilitators Limited is promoted by a mechanical engineer turned entrepreneur, Mr. Dinesh Makhija. With over 20 years of experience in the technical facility management industry, he has been instrumental in determining the vision and growth strategies for the company. Mr. Makhija is actively involved in day-to-day operational needs, legal and compliance-related issues and overall corporate strategy and planning, which is instrumental in the company’s growth. The company has employed 1,955 employees as on May 15, 2025 and 2,030 employees as on March 31, 2025, many of them with significant technical backgrounds and domain expertise in each of the industry verticals.

Icon Facilitators Limited has recorded ₹58.06 crore in revenue from operations with a profit (PAT) of ₹4.47 crore in the fiscal year 2025, compared with ₹49.84 crore and a profit (PAT) of ₹1.76 crore in FY24.

Russian electric car “Atom” will go on an Arctic expedition on a nuclear icebreaker

Moscow, 20^th June 2025 –The Rosatom State Corporation is preparing to send the Russian electric vehicle Atom on a polar expedition on the nuclear icebreaker 50 Let Pobedy.

The ship is scheduled to leave the port of Murmansk in the last ten days of June. Atom on an Icebreaker is a joint project of Atomflot, the Fuel Division of Rosatom, which has created the electric mobility business area, and the Kama company, the developer and manufacturer of the Russian Atom.

Passengers on the flight will be presented with a pre-production prototype of the Atom electric vehicle and its technical characteristics will be demonstrated. One day, the vehicle is scheduled to be lowered onto the ice to test its capabilities in harsh Arctic conditions.

“Harsh climatic conditions have long been considered critical for electric transport. Today, we are confidently entering the Arctic to show that such restrictions no longer exist. Russian electric vehicle technologies go beyond urban conditions and demonstrate readiness for operation in any climate zone – without discounts for the season, region or temperature. For the consumer, this is, in fact, a test of trust: if the car works stably in the harshest conditions, then it will definitely cope with any everyday scenario. It is symbolic that the start of production of the electric vehicle, where Rosatom acts as a technology partner, is planned for the year of the 80th anniversary of the Russian nuclear industry. This initiative symbolically combines our traditions and our new horizons. Russian and Soviet researchers have always been attracted by the Arctic,” said Alexander Bukhvalov, Director of the Electromobility Business Unit of TVEL JSC .

“Atom is the first electric vehicle developed by a Russian team of engineers for Russia. Therefore, it is very symbolic that one of our prototypes is making such a voyage – to the Arctic, on a domestic icebreaker – the pride of our country. This is a demonstration that electric transport is coming to Russia. The task of our team is to ensure its comfortable operation – adaptation of the electric vehicle to the climate, convenient digital functions and service maintenance,” commented Igor Povarazdnyuk , General Director of KAMA JSC.

HDB Financial Services Limited 12500 Crore IPO to Open on Wednesday June 25 2025

Chandigarh June 20, 2025:  HDB Financial Services Limited (“HDB Financial” or “The Company”) shall open its Bid / Offer in relation to its initial public offer of Equity Shares on Wednesday, June 25, 2025.

The Anchor Investor Bidding Date shall be Tuesday, June 24, 2025. The Bid/Offer will close on Friday, June 27, 2025. Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter. (“Bid Details”)

The Price Band of the Offer has been fixed at ₹ 700 to ₹ 740 per Equity Share.

The total offer size of equity shares with face value ₹ 10 each aggregating up to ₹ 125,000 million [₹ 12,500 crore] comprises of fresh issue of equity shares aggregating up to ₹ 25,000 million [₹ 2,500 crore] and Offer for sale of equity share aggregating up to ₹ 100,000 million [₹  10,000 crore] . (“Total Offer Size”)

The Company proposes to utilize the net proceeds from the fresh issue towards augmenting Company’s Tier – I Capital base to meet Company’s future capital requirements including onward lending under any of the Company’s business verticals i.e. Enterprise Lending, Asset Finance and Consumer Finance. Further, a portion of the proceeds from the Fresh Issue will be used towards meeting Offer Expenses. (“Objects of the Offer”)

The offer for sale of equity share capital comprises aggregating up to ₹ 1,00,000 million [₹  10,000 crore] by HDFC Bank Limited (“Promoter Selling Shareholder”). (“Offer for sale”)

The Equity Shares will be offered through the Red Herring Prospectus of the Company dated June 19, 2025 filed with Registrar of Companies, Gujarat, Dadra and Nagar Haveli at Ahmedabad (“RoC”). The equity shares are proposed to be listed on the Stock Exchanges being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”, and together with BSE, the “Stock Exchanges”). For the purposes of the Offer, NSE is the Designated Stock Exchange.

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”), read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion, the “QIB Portion”), provided that the Company in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors and the basis of such allocation will be on a discretionary basis, in consultation with the BRLMs, in accordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”). In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than the Anchor Investor Portion) (the “Net QIB Portion”).

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, Equity Shares allocated on a proportionate basis to Eligible Employees, Bidding in the Employee Reservation Portion and Eligible HDFC Bank Shareholders Bidding in the HDFC Bank Shareholder Reservation Portion subject to valid Bids being received at or above the Offer Price.

Further, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders (“Non-Institutional Category”) of which one-third of the Non-Institutional Category shall be available for allocation to Bidders with an application size of more than ₹200,000 and up to ₹1,000,000 and two-thirds of the Non-Institutional Category shall be available for allocation to Bidders with an application size of more than ₹1,000,000 and under-subscription in either of these two subcategories of the Non-Institutional Category may be allocated to Bidders in the other sub-category of the Non-Institutional Category in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders (“Retail Category”), in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price.

All potential Bidders (except Anchor Investors) shall mandatorily participate in this Offer only through the Application Supported by Blocked Amount (“ASBA”) process and shall provide details of their respective bank account (including UPI ID (defined hereinafter) in case of UPI Bidders (defined hereinafter) in which the Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or pursuant to the UPI Mechanism, as the case may be. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process. For details, see “Offer Procedure” beginning on page 538 of the RHP.

JM Financial Limited, BNP Paribas, BofA Securities India Limited, Goldman Sachs (India) Securities Private Limited, HSBC Securities and Capital Markets (India) Private Limited, IIFL Capital Services Limited (Formerly known as IIFL Securities Limited) , Jefferies India Private Limited, Morgan Stanley India Company Private Limited, Motilal Oswal Investment Advisors Limited, Nomura Financial Advisory and Securities (India) Private Limited, Nuvama Wealth Management Limited, UBS Securities India Private Limited are the Book Running Lead Managers to the offer. (“BRLMs”)

Vedanta Limited contributes around 4.5 Lakh crore to exchequer over the last decade, 55349 crore in FY25

Chandigarh, June 20, 2025: Vedanta Limited released the 10th edition of its annual Tax Transparency Report (TTR), reaffirming its commitment to transparent and responsible tax practices. The company has contributed ₹4,48,830 crore to exchequers across its domestic and international operations over the past decade (FY15-16 to FY24-25). In FY25 alone, Vedanta contributed ₹55,349 crore (37% of the Consolidated Revenue) through direct and indirect taxes, royalties, dividends, and other statutory payments. Of this, a significant ₹54,595 crore was contributed to the Indian exchequer.

In India, Vedanta has operations in 15 states, with its Rajasthan operations contributing ₹25,436 crore and Odisha operations ₹9,176 crore to the exchequer in FY25.

In his remarks, Anil Agarwal, Chairman, Vedanta Limited, thanked the Government of India and all stakeholders for their trust in the company, and said: “Nation-building is at the core of what we do. Our minerals, materials and energy are used extensively to build the nation’s infrastructure. As India’s leading mining, metals, and natural resources company, we see ourselves as both beneficiaries and enablers of this new era.”

The company’s FY25 tax contribution includes ₹24,649 crore in the form of taxes on income and capital, government royalty, and other taxes. Similarly, Vedanta contributed ₹27,081 crore in indirect taxes, withholding taxes, and other indirect contributions, while also paying a dividend of ₹3,619 crore to the Government of India. As per the company’s TTR, its Zinc division contributed ₹19,359 crore in FY25, making it the highest among all business verticals. This was followed by the Aluminium business at ₹12,350 crore and the Oil & Gas business at ₹10,195 crore.

Priya Agarwal Hebbar, Chairperson, Hindustan Zinc and Non-Executive Director, Vedanta Limited, also emphasized “At Vedanta, we place a strong emphasis on governance. The ‘G’ in ESG often receives less attention but forms the backbone of a sustainable business. We are deeply committed to practices that ensure fairness, are rooted in ethics, and focus on long-term value creation. The publication of this report for ten consecutive years reflects our belief in governance not as a compliance exercise, but as a cornerstone of corporate citizenship”.

The company has been voluntarily publishing its Tax Transparency Report for the last ten years. The report offers a comprehensive disclosure of the company’s tax strategy, governance practices, and country-wise contributions, in alignment with global best practices. It draws inspiration from two prominent frameworks including the B Team Responsible Tax Principles and EITI.

Corporate Performance June 2025

The sales growth of corporates improved in Q4 FY25. While sales growth saw improvement, an uptick in expenditure led by rising input prices has resulted in a moderation in corporate profitability growth in the quarter. For the full fiscal year FY25, the financial performance of the corporates was affected by a confluence of factors such as escalating geopolitical tensions, commodity price volatility, election related disruptions and mixed outlook on urban demand. A contraction in profitability in H1 FY25 affected full-year performance significantly.

This report presents an analysis of the corporate performance of listed non-finance companies. Part I of the study looks at the quarterly performance of 1011 companies. Section (A) provides an overview of the aggregate performance of these companies, whereas Section (B) presents a snapshot of the sectoral performance of select 21 sectors (See Annexure 1 for details). Part II of the study provides a snapshot of the annual earnings results of 810 listed non-finance companies. In Part III, we look at the growth in employee costs of various sectors to draw inferences about the consumption demand.

Way Forward

• We expect corporate performance to improve going ahead. While rural demand has held up well, supported by robust agricultural production, the outlook for urban demand continues to remain mixed. Prospects of an above-normal monsoon have brightened the outlook of rural demand as it will support farm output and lower food inflation. However, it will be crucial to monitor the temporal and spatial distribution of the monsoon. Additionally, the consumption scenario is anticipated to gain due to factors such as lower tax burden, benign inflation and RBI rate cuts. While the overall public capex push is expected to be sustained, a strong recovery in consumption is also imperative for a pickup in private capital expenditure.
• External headwinds—including global policy uncertainty, trade tensions, sluggish global growth, and geopolitical risks—will continue weighing on domestic growth prospects. Even though global commodity prices have eased following concerns about global growth prospects, the recent rise in geopolitical tensions in the Middle East has resulted in a sharp uptick in global energy prices and needs to be monitored closely.
• The overall performance of corporates in the coming quarters will depend upon the unfolding of the global growth scenario and any external risks associated with geopolitical tensions, trade policy uncertainties, commodity price shocks. While lower interest rates will be a supporting factor, domestic demand conditions will play a critical role in overall corporate performance in the coming quarters.