27, May 2024
OYO launches 7 company serviced hotels, targets 35 new properties in 2024
Global hospitality technology company OYO has announced that it will launch 35 company-serviced hotels in Mumbai this year. During the pilot phase of the program, OYO has already launched seven hotels in this category Townhouse Vista Suites PBG Mall Vashi; Super Townhouse Blue Diamond Vashi; Townhouse Ace Marol Near Mumbai, International Airport, Super OYO Kailash Park Near Shivaji International Airport; Super Collection O in Kalyan West; Collection O Milona, Airoli and Palette Irayos Lifestyle Retreat in Palghar.
OYO is also looking for partnerships with real estate developers to identify and develop new hotel properties across various regions. These hotels will be operated by OYO’s most professional hotel operators, which will allow them to grow and expand their business.
These hotels will be listed on OYO’s app and website as ‘Company Serviced’ hotels to signal OYO’s active involvement in their operation.
OYO plans to accelerate its expansion by combining OYO’s innovative technology and hospitality solutions with the real estate sector’s insights and local knowledge. The program will allow its top hotel partners to earn additional revenue without taking the risk of leasing or the overhead costs of starting a new hotel. These operators will get dedicated relationship managers and access to OYO’s network of over 15,000 corporate accounts and more than 10,000 travel agents.
Most of these hotels will be onboarded under the company’s premium hotel offerings such as Townhouse, Townhouse Oak, and Collection O.
In the process, OYO is also providing property or hotel owners an opportunity to give out their property to a large organization at a fixed rental, revenue sharing or management contract basis and be assured of safe upkeep of their property.
The company will closely monitor the hotel’s upkeep and customer reviews to evaluate and reward the top operators.
The initiative aims at establishing a collaborative ecosystem where OYO, hotel operators, and property owners will work together to run guest-focused, well-run hotels in line with the company’s aim of fostering economic growth in communities through partnerships.
The program underscores OYO’s commitment to providing a comprehensive range of choices to customers. Whether it’s a business trip, family vacation, or solo adventure, guests will have more stay options in top-rated properties that complement their travel styles, budgets, and preferences.
Speaking on the development, Varun Jain, Chief Operating Officer, OYO said “Our new serviced hotels in Mumbai are designed to cater to the diverse needs of business and leisure travelers alike. With a focus on comfort, convenience, and personalized service, these properties offer a blend of modern amenities and exceptional value.”
Commenting on the opportunity, BuntySayal of Hotel Blue Diamond, Vashisaid “”OYO has made managing my hotel operations incredibly convenient, allowing me to oversee everything without being physically present throughout the day. I receive regular updates and assured returns, all without the worry of property upkeep. Their efficient management and reliable service have truly been beneficial for me.”
OYO Rooms has simplified, modernized, and digitalized its tech stack to help patrons increase their visibility and in turn, improve their revenue. Its revamped technology products, like Co-OYO, allow patrons to design and run their promotional offers to increase occupancy. The AI-based self-onboarding tool OYO 360 provides a simple two-click platform to enroll patrons on its platform. With a simple review, in a single click, the property will be live in just 30 minutes across all platforms.
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- By Rabindra
24, May 2024
A Summer Getaway for Families: Kuda Villingili Resort Maldives
May 24th, 2024 – As the summer heat rises, families around the globe are gearing up for the ultimate retreat to Kuda Villingili Resort in the breathtaking North Malé Atoll. Nestled amidst the tranquil turquoise waters of the Maldives, Kuda Villingili Resort offers an unparalleled escape for those seeking a slice of paradise. With its pristine beaches, crystal-clear waters, and lush tropical surroundings, every corner of this tropical haven promises to captivate and rejuvenate the soul.
At Kuda Villingili Resort, guests are welcomed into a world of luxury. One of the resort’s standout features is its expansive pool, spanning approximately 150 meters, making it one of the largest in the Maldives. This impressive pool provides the perfect setting for families to soak up the sun, take a refreshing dip, or simply unwind together.
For those seeking privacy and comfort, Kuda Villingili Resort presents its exclusive Beach Villas with Private Pools. These luxurious villas, nestled along the pristine shoreline, offer breathtaking views of the ocean and direct access to the beach, ensuring an unforgettable experience for the whole family.
Dining at Kuda Villingili Resort is an adventure of taste and discovery. The main dining venue, known as The Restaurant, serves breakfast in the mornings and transforms into three distinct dining experiences in the evenings: Fire, Earth, and Ocean. Additionally, The Hawkers presents three separate restaurants: Spice, East, and Med, offering a diverse array of global cuisines. MarUmi, the signature restaurant, is beloved for its South American cuisine during lunch and Japanese-Peruvian gourmet offerings at dinner.
Families traveling to Kuda Villingili Resort can rest assured that their little ones will be well taken care of at the Kuda Fiyo Kids Club. A hub of fun and excitement, the Kids Club offers a wide range of tailored activities designed to engage and entertain children of all ages. From arts and crafts sessions to outdoor adventures and educational workshops, our dedicated team of trained professionals ensures that every child’s experience is filled with laughter, learning, and unforgettable moments.
Kuda Villingili Resort offers a plethora of exhilarating water sports activities for those seeking adventure. Guests can surf the majestic waves at the nearby Chicken Break, and explore crystal-clear waters through kayaking, wakeboarding, jet skiing, or windsurfing, ensuring endless excitement for all.
With warm hospitality, world-class services, and a host of amenities, Kuda Villingili Resort provides families with the perfect sanctuary for relaxation and bonding. Whether you choose to unwind in the privacy of your villa or indulge in exciting water sports activities, there’s something for every member of the family to enjoy.
Book the special summer offer – applicable for stays 4 nights and longer and valid for bookings and stays until 31 August 2024; visit https://www.kudavillingili.com/offers
24, May 2024
Innovative Strategies: Deepak Sapra’s Take on Personalized Medicine
Hyderabad, May 24, 2024….The Technology enables drug discovery faster, more efficiently and cheaper, said Mr Deepak Sapra, CEO of Dr. Reddy’s Laboratories while delivering an opening address at DXEM 2024–a day-long Summit on Navigating Digital Transformation in Engineering and Manufacturing initiated by Hyderabad-based Plural Technology, organised at HICC Madhapur on Friday to sensitise relevant industries on the importance of Digital Transformation in Engineering & Manufacturing sector.
Deepak Sapra, a prominent leader from the pharmaceutical industry said, that with so many new waves of technologies around such as AI and Machine Learning, the vast amounts of data both drug and molecular data, can be harnessed to build complex models automatically. This makes the drug discovery process far easier—and faster—to predict how drugs might behave in the body, allowing many early experiments.
Speaking further he added drug discovery is a very complex affair. It takes anywhere from 10 to 15 years. It is a very costly affair. It involves US $ 2billion, INR 16000 crore. After so much effort, the probability of success is just 1 in 10,000, probability is not more than 3O%. Even after so much, the price control on the companies by regulators is another challenge that looms large. The only few ways to address these challenges are Innovation and collaboration powered by Technology.
Our healthcare lies in our mobile phones. The biggest diagnostic device is our mobile phone and why don’t we use it? It transforms a large diagnostic lab into our palm which is always with you and follows you like your shadow.
To prove his point on the role of technology in drug discovery he spoke about personalised medicine, which he described as precision medicine that enables different medicines to different people suffering from the same disease. The medicine is tailored to the individual patient based on his or her predicted response or risk of disease.
This is not new. It has been existing for well over a decade. But it is making a comeback in a big way now, said Deepak Sapra. He shared a few examples such as MYCIN and IBM WATSON.
MYCIN is a knowledge-based consultation program for infectious disease diagnosis. This consultation system is designed to assist physicians in the diagnosis of and therapy selection for patients with bacterial infections. In addition to that it gives an explanation system which can answer simple English questions to justify its advice or educate the user. It is believed to have done better than an actual doctor he said.
IBM Watson is used to help doctors diagnose diseases by analyzing patient data and identifying patterns that may indicate a particular condition. Both are revolutionary products that work on patients’ data. But unfortunately failed as they were not user-friendly.
The research is on personalised medicines, not just in Western countries but here in India, he added. Car T, a unique cancer individual medicine, is gaining ground now. The world will see at least 15 to 20 new drugs in this area, Deepak added.
More and more pharmaceutical companies are increasingly spending a higher percentage of amount on R & D. Some are spending as high as 48% of their revenues and some are spending even more, he said.
By automating the drug discovery process, you can reduce the time and resources required to identify promising drug candidates, he added. Technology helps to transform from I to We, illness to wellness, he added.
The data required for technology-driven decision-making is key. The data is huge, an individual produces 1100 terabytes of data every year. The power lies in analysing that data.
Further, Deepak added that the animals used in clinical trials can be replaced by simulated modes. AI and technology can be optimised. This can save time by 25 to 30%. The regulators such as USFDA (The Food and Drug Administration (FDA); European Medicines Agency (EMA); Central Drugs Standard Control Organization (CDSCO) are now recognising the importance of technology in drug discovery. The pace of technology is much more and regulatory bodies need to catch up with the pace of technology, Deepak said. Every serious regulatory body in the world is making earnest attempt, he added.
Peter Bilello, CEO, and President, of CIM Data delivered a Keynote address on Digital Transformation and said digital enablement starts with end-to-end connectivity and ends with digital skills transformation.
Giving opening remarks earlier Sunil Savaram, Founder & CEO, of Plural Technology, the company specialized in Product Lifecycle Management (PLM) and Enterprise Software services said if you don’t go digital, you might be washed away by those who have gone digital. It is like a shape-up or ship-out. Automate and elevate your business. You will lose out on competitiveness if you remain in the brick-and-mortar model. Thrive, not vanish. Our mission is to help companies thrive and become more competitive.
According to recent studies, embracing digitalization in manufacturing could potentially add USD 1.04 trillion to India’s GDP by 2025, representing a significant boost to the economy, Sunil added.
South Korea spends 5.2% of its profits on R & D. Against this India spends just 0.8%. So, it is better to invest in technology and improve your engineering efficiency. Thrive with the might of technology and not vanish, he said.
The day-long summit saw a panel discussion moderated by Dr Ramgopal NC, Technology & Innovation Director, Spantech Engineers, ex-Program Director of Emirates ID and led large-scale digital transformation projects for the Government. The panellists of the same included Mr Sudhakar Rao, APAC Head, Ui Path; Dr Rajaram Iyer, VP, Lauras Labs; Mr Siva Kumar Rachakonda, President, Zetatek Group; Mr Dhanraj Tirumala, Founder & CEO, CGI Simulations Pvt Ltd.
Few successful case studies were discussed.
Over 100 industries of engineering and manufacturing sectors participated.
24, May 2024
JSW Paints posts its first Operating Profits within 5 years of business launch
May 24,2024:JSW Paints, India’s leading environment-friendly paints company and part of the US$ 24 billion JSW Group, posted its first full year operating profits at an EBITDA margin of more than3% (approx.Rs 67 crores) for the fiscal year ended March 31, 2024. This makes JSW Paints the first and youngest Indian paints company to post operating profits in the shortest span of 5 years from its business launch. The company’s gross revenues crossed thetargeted Rs 2,000 crore milestone registering more than 10x industry growth rate. The scale-up in gross revenues was supported by a significant ramp-up in both Decorative Paints and Industrial Coatings businesses.
The current growth rate puts JSW Paints firmly on track to pursue its target of achieving Rs 5,000 crore within the next two years (i.e. by FY26). This will be supported by significant business transformation initiatives in the decorative paints segment. The company has appointed Mr Ashish Rai as Chief Business Officer – Decorativeto lead the transformation& growth in its Decorative Paints Business. With over two decades of experience in global organizations like Unilever where he led Distributive Trade Transformation, Ashish will be leading the Decorative Paints Business at JSW Paints to continuously deliver profitable top line growth.
According to Mr Parth Jindal, Managing Director of JSW Paints,“It has been an exciting and eventful five years for JSW Paints to achieve our guidance of being the youngest paints company to turn profitable in the shortest span of time. We are now determined to capitalize on the new opportunities as Indian consumers evolve their preferences towards purposeful living and environment-friendly products. As we navigate the next phase of growth in our manufacturing and marketing investments, I am happy to welcome Ashish Rai to transform and lead the next phase of growth in our decorative paints business.”
JSW Paints remains committed to building its business with the youngest, most gender diverse, and dynamic team in the industry with an average working age of 29 years. According to Mr. Sundaresan AS, Joint Managing Director & CEO of JSW Paints,“We are a young team and aspire to do things never done before. We are delighted that the difference we seek to make is well received, fueling our fast-pacedgrowth. We promise to continue bringing world class products and services to the doorstep of our consumers and make their homes truly beautiful.”
Mr Ashish Rai, Chief Business Officer – Decoratives at JSW Paints said,“I am thrilled to join JSW Paints at a pivotal juncture where the business is clearly ready to accelerate its growth momentum. The Decorative Paints category is closely tied to the joy Indian consumers feel in transforming their homes. The next phase of growth in our decorative paints business is supported by strong tailwinds of digital advancements, elevated consumer aspirations and our own commitment to exceed the ordinary by offering innovative and environment-friendly products that will delight our consumers.”
The rapid topline growth recorded by JSW Paints has been driven throughthoughtful disruptions and innovations it has offered to its consumers across India.
• JSW Paints remains the only company in India which offers the unique “Any Colour One Price” in Indian paints market.
• The luxury interior emulsion Halo is the Best Paint of India as has been tested against comparable offerings.
• JSW Paints waterproofing range iBlok is the surest way to waterproof homes. The company is scaling marketing support with a newadvertising campaign it recently launched across the country.
• Aquaglo – the water-based enamel – continues to delight consumersas the only non-smelly paint for wood & metal at home.
• JSW Paints has launched Opera range of luxury wood finishesthat are Made in India to take on imported Italian wood finishes.
• In Industrial coatings JSW Paints is leader in Coil Coatings and is expanding its offering to other segments like protective, pipe, windmill, floor and general industrial coatings.
24, May 2024
Navanaami unveils its Magnum Opus Megaleio Hyderabad’s newest Landmark and the Destination for Luxury Living
Mumbai 24th May 2024: The city of Pearls is about to have its new crowning jewel. Navanaami Projects Private Ltd., the leading real estate developer from Hyderabad, unveiled its architectural magnum opus – The Megaleio – in the city, today. Planned as a luxurious residential project, Megaleio is envisioned to be Navanaami’s flagship showcase of thoughtful design thinking and a testimony of its relentless pursuit for quality, innovative designs, and true luxury architecture.
Navanaami’s Megaleio was unveiled at a star-studded gala event by Mr. Naveen Gadde, Founder & Managing Director, Navanaami in the presence of Mr. Rajeev Kumar Sharma, Principal architect, DesignHaaus and internationally renowned consultants from Tierra Design, ARUP Optimisation consultants along with other directors and guests.
Speaking on the occasion, Mr. Naveen Gadde, Founder & Managing Director, Navanaami, said, “The launch of Megaleio is a dream come true for all of us. At Navanaami, it is our commitment to push the boundaries of design and innovation. Megaleio represents a harmonious convergence of design, sustainability, and uncompromising luxury. As we work towards making our dream a tangible reality, we are proud to share that Megaleio will stand as a celebration of Hyderabad’s rich heritage and a bold statement of its aspirations for the future. We invite the world to experience a new paradigm of living, where the boundaries of imagination are pushed, and every moment is a celebration of the extraordinary.”
With just 20 minutes away from the Rajiv Gandhi International Airport and 15 minutes from Financial District, Megaleio enjoys the most unique location in Appa Junction Peerancheru and is well connected to major roads like Nehru Outer Ring Road and NH 163. Spread over 4.1 acres, Megaleio will be surrounded by a 1200-acre of greenery and in the vicinity of protected waterbodies Himayat Sagar and Osman Sagar, promising the future residents a natural ambience.
A dream project for the organization, Megaleio has been conceptualized as an architectural marvel for Hyderabad. Megaleio’s towering presence in the region is characterized by two iconic towers, comprising a total of 50 floors and 150 opulent exquisite residences. The twin towers establish Megaleio as an awe-inspiring landmark for the city.
The RERA-approved project boasts of a stunning design with double-height ceilings, a conscious façade, and an expansive interior that creates a remarkable ambiance. The 150 meticulously crafted residences, each a canvas of opulence and sophistication, is divided in three units: Skyline tower units with an area of 11,111sq.ft; Unity tower units with an area of 9999 sq.ft and 8888 sq.ft.
Further to being at the heart of nature, Navanaami’s Megaleio will have sustainability built-in right at the centre of the project. Crafted in collaboration with a constellation of world-renowned architectural design and engineering firms, including DesignHaaus, Tierra, Arup and Optimisation Consultants Megaleio epitomizes the harmonious fusion of architectural ingenuity and sustainable living. From its double-height ceilings and conscious façade to its IGBC certified and LEED-designed residences, every aspect of Megaleio will be meticulously curated to minimize its environmental footprint while maximizing luxury and comfort.
Catering to an audience of high-net-worth individuals, Megaleio has unparalleled amenities and facilities elevate the concept of ultra-luxury living to new heights. Residents will revel in branded kitchens, state-of-the-art home automation systems, noise-controlled windows, opulent bathrooms, and sustainable features that seamlessly blend eco-consciousness with sophistication. Private garages with EV charging capabilities, soaring 9-foot doorways, and internationally sourced flooring materials further amplify the exclusive allure of Megaleio.
With the iconic landmark that it promises to be, Megaleio has already captured the imagination of discerning buyers.
24, May 2024
EaseMyTrip signs Letter of Intent (LOI) to join ONDC Network at the ONDC Startup Mahotsav
Mumbai, 24th May 2024 : EaseMyTrip.com, one of India’s leading travel tech platforms, announces the signing of a Letter of Intent (LOI) to join the Open Network for Digital Commerce (ONDC). This move positions EaseMyTrip to commit to this transformative initiative by ONDC. The ONDC initiative, launched by the Government of India in 2021, aims to create an open, inclusive, and competitive digital commerce ecosystem. It lowers entry barriers for small businesses and promotes a level playing field in the e-commerce sector.
The LOI was signed at the ‘ONDC Startup Mahotsav,’ organised by the Department for Promotion of Industry and Internal Trade (DPIIT), ONDC and Startup India. The ONDC Startup Mahotsav, held on May 17, 2024, at Vanijya Bhawan, New Delhi, marked a significant milestone in India’s digital commerce journey.
Over 125 startups and over 20 unicorns, including EaseMyTrip, participated in the event, which leveraged the opportunities presented by ONDC to democratise digital commerce in India. The ‘ONDC Startup Mahotsav’ brought together around 5,000 startups in hybrid mode and featured insightful panel discussions and a masterclass on enabling startups on ONDC.
Rikant Pittie, Co-Founder of EaseMyTrip, expressed his enthusiasm about this new engagement “EaseMyTrip has always been committed to enhancing the travel experience for our customers through innovation and excellent service. By joining ONDC Network, we are taking a significant step towards supporting the digital transformation of commerce in India. This collaboration aligns with our vision of being a Nation-First company, contributing to the growth and development of India’s digital economy.”
T. Koshy, MD & CEO, ONDC, said, “ONDC Network was envisioned to revolutionise the digital landscape, especially empowering businesses and entrepreneurs across the country to tap into the vast potential of online commerce. With names like EaseMyTrip joining the Network, it certainly further strengthens our vision of harnessing the power of Open Network to drive inclusive progress and unlock new frontiers of opportunity for all”.
EaseMyTrip’s decision to join ONDC underscores its dedication to providing seamless, accessible, and efficient travel services while contributing to the broader goal of democratising digital commerce in India. This partnership will enable EaseMyTrip to reach a wider audience, including those who have been digitally excluded, ensuring that the benefits of digital commerce are shared across the entire nation.
24, May 2024
Seabeats Real Estate LLC announces Exclusive Investment Opportunity in Dubai
New Delhi, May 24, 2024: Seabeats Real Estate LLC, a leading real estate development firm is thrilled to announce an unparalleled opportunity for individuals aspiring to own property in one of the world’s most dynamic cities. For just 100 AED, you can secure your own house and obtain a coveted Golden Visa, opening doors to a world of possibilities in Dubai.
With this groundbreaking offer, seize the chance to experience the limitless opportunities Dubai has to offer. Nestled in one of the most prestigious locations globally, owning a home in Dubai not only promises luxury living but also serves as a gateway to unparalleled privileges and advantages with the Golden Visa.
Seabeats Real Estate LLC assures the security and profitability of your investment, making it a prudent choice for your future. By purchasing your coupon number now, you stand a chance to win monthly rewards while embarking on a journey towards success and prosperity in Dubai.
Immerse yourself in Dubai’s breathtaking architecture, stunning skyline, and vibrant cultural scene. Explore a melting pot of diverse traditions and cuisines, creating unforgettable experiences within a global community of like-minded individuals.
The Golden Visa facilitates seamless travel to and from Dubai, opening up a world of opportunities for personal and professional growth. Don’t miss out on this extraordinary opportunity to make Dubai your home and secure your future in one of the world’s most thriving cities. The scheme will be launched throughout different cities in India and the culminating event will take place in Mumbai on 1st August 2024. Details regarding other cities are mentioned in the end.
Exclusive investor information sessions will be held across various cities from May 25, 2024 onwards. The exclusive sessions will provide potential investors with comprehensive insights into the project, including detailed plans, timelines, and expected returns. Attendees will also have the opportunity to meet with the project’s developers and financial advisors.
24, May 2024
Experience Smoke and Spice Delights at Al Di La, Conrad Pune
Indulge your senses in a culinary journey like no other as Al Di La, the esteemed dining destination at Conrad Pune, presents a tantalizing fusion of bold flavors with its Smoke and Spice dishes. Throughout every Saturday and Sunday in May, guests are invited to savor the perfect balance of smoky aromas and blackened spices, elevating each bite to a new level of culinary delight.
Nestled within the luxurious confines of Conrad Pune, Al Di La sets the stage for an exquisite dining experience, where every dish is a masterpiece crafted with passion and precision. Drawing inspiration from the rich tapestry of global cuisine, the Smoke and Spice menu showcases a harmonious blend of robust flavors and intricate spices, creating a symphony for the taste buds. Start with appetizers like Kataifi Baskets, Flame roasted lemon grass & Paprika Chicken, Smoked stuffed morel and Jamaican Jerk John Dory Papillote. Main course includes dishes like Blackened Halloumi e Verdure, Lobster Tagliolini, Roasted Blacked Corn-fed Chicken and Blackened New Zealand Lamb Chops. Finally, finish your course with an amazing Basque Burnt Cheesecake. Al Di La offers a diverse array of options to cater to every palate.
Complementing the bold flavors of the Smoke and Spice menu is Al Di La’s inviting ambiance, where rustic charm meets contemporary elegance. Whether dining indoors surrounded by sleek décor or al fresco on the picturesque terrace, guests are treated to a sensory experience that transcends the ordinary.
Elevate your weekend experience and embark on a culinary journey that celebrates the art of smoke and spice. Join us at Al Di La, Conrad Pune, every Saturday and Sunday in May, and immerse yourself in a world of bold flavors, aromatic spices, and unforgettable moments.
24, May 2024
HONASA Consumer Reports 23 percent Growth, Highest Ever Quarterly PAT at INR 30 Cr
Gurugram, May 24th, 2024: Honasa Consumer Ltd., is proud to share its financial performance for the quarter ending March 31, 2024, and for the fiscal year FY24. Demonstrating resilience and agility, the company has witnessed revenue from operations grow for the quarter at 21.5% year-on-year (23.3% like-for-like) and for the year at 28.6% year-on-year (31.6% like-for-like). With a 780-bps improvement in EBITDA margins year-on-year, Honasa Consumer clocked its highest ever quarterly Profit After Tax (PAT) of INR 30 Cr. By consistently outpacing market growth, the company reaffirms their dedication to innovation and strategic market expansion, thereby strengthening their presence in the beauty and personal care industry.
Sharing his thoughts on the business performance in Q4FY24, Varun Alagh, Chairman and CEO, Honasa Consumer, comments, “As we reflect on quarter and year, we are extremely happy to share that despite industry headwinds, Honasa has demonstrated remarkable resilience and growth for the quarter and fiscal, with a robust LFL growth of 23.3% for the quarter and 31.6% annually. We have stayed committed to delivering growth, improving profitability, and increasing our distribution network. Mamaearth’s unwavering popularity among consumers has been a key driver of our continued success, while The Derma Co’s is catching up and has recently achieved an ARR of INR 500 Cr+ highlighting our ability to craft and scale new-age beauty brands. Going forward, our focus remains on seizing untapped opportunities in the beauty landscape by tailoring brands and creating products that resonate with next-gen Indian consumers. Through our House of Brands approach, purpose-driven strategy, and placing emphasis on R&D and innovation, we aim solidify our position as frontrunners in the ever-changing BPC segment”.
Financial Overview
Q4 FY24 consolidated revenue stood at INR 471 Cr
Q4 FY24 sales grew by 21.5% year-on-year (23.3% like-for-like)
Q4 FY24 consolidated EBITDA improved by by 780 bps at INR 33 Cr
Q4 FY24 clocked highest ever PAT at INR 30 Cr for the quarter and INR 111 Cr for FY24
Delivered a strong FY24 performance with 28.6% YoY growth (31.6% like-for-like)
Business continues to be capital efficient, with a negative working capital cycle of minus 13days
Business Overview
Continued growth momentum in Q4 with increasing profitability
As per Euromonitor, Mamaearth’s 3X faster YoY (CY23-o-CY22) GMV growth outpaces its competitors (Other Top-14 BPC brands)
Mamaearth reached 188,377 FMCG retail outlets in India as of March ’24, increasing distribution up by 34% YoY
New products accounted for around 18% of FY24 Revenue from Operations
Using our unique House of brands strategy, Honasa aims to dominate the fast-evolving categories such as sunscreens. As per Honasa’s internal estimates, Honasa products command 30%+ market-share in most online channels in sunscreens
Tapping the ever-evolving category of color cosmetics, Honasa has launched Staze to redefine the beauty landscape and address the need gaps of the next-gen consumers
UNIQUE PLAYBOOK OF BPC BRANDS LEADING THE CHARGE
Mamaearth has solidified its position in the hearts of consumers and outpaced its competition by threefold in Year-on-Year GMV growth (CY23-o-CY22, as per Euromonitor, comparison with Other Top-14 BPC brands). With increasing household penetration across India, particularly notable in the face wash and shampoo categories, the brand has resonated deeply with diverse population segments Key innovations, such as the Hibiscus and Beetroot product line-ups, coupled with the brand’s entry into the personal wash category, have boosted its presence.
Demonstrating an exceptional growth, The Derma Co scaled to an impressive annual run rate of INR 500 Cr+ in the final quarter. As a pioneer in category development within the actives space, the brand has introduced format and ingredient-based innovations across multiple categories including serums and sunscreens.
Our achievements, both on the business and financial front, in this quarter and for the fiscal year emphasizes our dedication to develop and scale each brand within our portfolio through targeted, consumer-oriented approach, setting a new high in brand enhancement and market presence.
DATA-BASED INNOVATION AT THE HEART OF SUCCESS
In the final quarter of FY24, Honasa Consumer Limited continues to exemplify the strength of its innovation strategy, deeply rooted in current trends and data-driven insights, as a cornerstone of its robust performance.
Addressing the ever-evolving consumer needs, Mamaearth entered into the personal wash segment with a goal to capture a portion of the INR 25,000 Crore personal wash market. The brand also leads in innovation both in terms of formats and ingredients, carving out a distinct niche in the active-based products market. Emerging brands like Aqualogica, Dr. Sheth’s, and BBlunt continue to distinguish themselves through innovative products boasting strong claims that resonate well with consumers.
Drawing upon our expertise in data-driven innovation and a customer-focused mindset, we launched Staze, an inspirational color cosmetic brand targeting Gen-Z consumers, presenting a range of cost-effective and trendy beauty alternatives.
This quarter, standout innovations such as the Mamaearth Hibiscus Range, Mamaearth Beetroot Hydraful Sunscreen, The Derma Co 1% Hyaluronic Long Lasting Sunscreen, Aqualogica illuminate+ Dewy Sunscreen, Dr. Sheth’s Gulab & Glycolic Acid Serum, and BBlunt Dry Shampoo have taken the lead. These data-driven product innovations have played a significant role in driving growth, with new offerings contributing approximately 18% to FY24 Revenue from Operations. Our unwavering commitment to research and development, coupled with a relentless focus on innovation, continues to yield fruitful results for the company.
Leveraging the power of our House of brands strategy, we are committed to establishing our dominance in swiftly evolving sectors like Sunscreens. Throughout the calendar Year 23, we introduced 122 new products (NPDs). These innovations not only resonated deeply with our discerning consumers but also made a substantial contribution to our revenue.
SHAPING A FUTURE-POSITIVE TOMORROW
The release of Honasa’s first-ever impact report underscores not only its unwavering commitment to Environmental, Social, and Governance (ESG) principles but also showcases our heartfelt mission to ignite, steer and sustain meaningful conversations on beauty beyond business, inspired by goodness.
Our purpose-driven initiatives have made significant strides in advancing our mission to create positive change and impact. For instance, While Mamaearth’s Plant Goodness initiative has led to the production of over 12,000 tons of fruit, generating an economic value exceeding INR 20 crore, The Derma Co’s Young Scientist program has successfully engaged more than 20,000 students, improving their knowledge by over 42%. Contributing back to the society, Aqualogica’s Water For All project has saved 400+ hours daily, focusing 100% on women-led interventions. Additionally, BBlunt Shine Academy has certified over 10,000 women in different vocational courses. The introduction of the brand purpose for Dr. Sheth’s, ‘Healthy India, Healthy You’, not only strengthens our commitment to meaningful societal engagement but also extends our reach to the remote corners of India, promoting health and well-being across the nation.
In essence, Honasa remains steadfast in its dedication to driving positive change, embracing beauty as a force for good, and continuing to lead the charge towards a healthier, more inclusive future for all.
Alongside, our dedication to robust corporate governance remains unwavering, with a board comprised of 50% independent members, meticulous auditors, rigorous internal audit procedures, the adoption of ERP/DMS-SFA systems, and a proactive approach to gender diversity, with 53% female representation in our workforce. This commitment is further strengthened by the prestigious recognition of Honasa Consumer Limited as a #GreatPlaceToWork for the fourth year in a row, affirming our dedication to creating an inclusive and thriving workplace culture while being true to our pursuit of corporate governance.
As we progress, Honasa Consumer will uphold its commitment to deliver sustained growth and profitability for all its stakeholders, ensuring a future characterized by value creation, positive impact, and shared success.
24, May 2024
Avaada Energy Secures 1050 MWp Solar Project in NTPC Auction; Crosses over 15 GWp Portfolio in India
Mumbai, May24, 2024:Avaada Energy, a leading player in the renewable energy sector and an arm of Avaada Group, is pleased to announce that it has achieved a historic milestone by winning the single largest bid of of1050 MWp capacity of solar project in a recent tender issued by the Renewable Energy Implementing Agency (REIA)National Thermal Power Corporation (NTPC). This achievement underlines Avaada’s expertise and commitment to contributing to India’s renewable energy targets.
The company has secured a significant 1050 MWp capacity of solar project at a competitive tariff of INR 2.69 per kWh,which is expected to be completed within 24 months of signing the 25-yearPower Purchase Agreement (PPA), showcasing Avaada Energy’s commitment to delivering large-scale renewable energy projects efficiently and effectively.
In addition to this landmark win, Avaada Energy has reached a remarkable milestone by achieving Letters of Award and PPAs for over 15 GWp in India. This extensive portfolio underscores the company’s dedication to advancing the renewable energy landscape across the nation.
Commenting on this significant development, Mr. Vineet Mittal, Chairman of Avaada Group, said,“We are incredibly proud to have won the single largest bid of 1050 MWp from NTPC. This achievement not only highlights our capability to execute large-scale renewable energy projects but also reinforces our commitment to supporting India’s transition to a sustainable energy future. Crossing over 15 GW portfolio is a testament to our team’s hard work, innovative approach, and dedication to excellence.
My confidence in taking bigger bets increased after successfully completing the 1250 MWp project at a single location in Rajasthan in 2022, which until 2023 was the single largest project developed by an IPP in the world. As Avaada, we also ventured into Agri Voltaic Solar solutions in the state of Maharashtra, further diversifying our portfolio and contributing to sustainable agricultural practices.We remain committed to driving the growth of renewable energy in India and contributing to a greener planet.”
Upon commissioning, the solar project is expected to generate approximately 1800 million units of renewable energy annually, significantly contributing to India’s green energy supply and powering more than 12,00,000 households.
This initiative is projected to play a significant role in reducing carbon emissions, with an expected annual CO2 reduction of approximately 16,81,200 tonnes, aligning with India’s climate objectives.This project will add substantial value to Avaada’s growing footprint in the renewable energy landscape.
