OREDA & Tata Power Renewable Ink MoU to Boost Rooftop Solar in Odisha under PM Surya Ghar Program

Chandigarh, 22 January 2025: Tata Power Renewable Energy Limited (TPREL), a leading player in India’s renewable energy sector and a subsidiary of Tata Power, has signed a Memorandum of Understanding (MoU) with the Odisha Renewable Energy Development Agency Limited (OREDA Limited), the state’s nodal agency for renewable energy, to accelerate rooftop solar adoption among residential customers. This partnership reflects a shared commitment to expanding Odisha’s renewable energy footprint by implementing the Pradhan Mantri Surya Ghar Yojana (PMSGY).

Tata Power, one of India’s largest integrated power companies, manages power distribution in Odisha through its four DISCOMs in partnership with the State Government. The scheme will be implemented through the DISCOMs which will play a pivotal role in bringing solar energy to households.

The MoU was signed by Shri Saidutta Biplab Keshari Pradhan, CEO, OREDA Limited, and Dr Praveer Sinha, CEO&MD, Tata Power in the presence of the Hon’ble Deputy Chief Minister of Odisha, Shri K.V. Singh Deo and Shri Manoj Ahuja, IAS, Chief Secretary, Government of Odisha.

This collaboration aims to accelerate solar energy adoption through enhanced public awareness and seamless implementation of accessible and affordable solar energy solutions across Odisha. TPREL, which will be listed as one of its preferred solar partners by OREDA, will play a pivotal role in this adoption by ensuring reliable and hassle-free solar solutions with lifetime care. The company along with OREDA and its financial/banking partners will lead targeted awareness drives at high-footfall locations such as airports, malls and railway stations. To strengthen community engagement, the company will also develop educational materials on renewable energy benefits, conduct sessions for local vendors, and foster local technical expertise by training rooftop installation and maintenance staff.

Public education will remain a central pillar, supported by the creation and dissemination of Information, Education, and Communication (IEC) materials to emphasize the advantages of renewable energy and energy efficiency.

Odisha is pioneering the solar revolution as the state with the highest solar subsidies in the country which significantly reduces the financial burden on the consumer and enables easy adoption.

Dr. Praveer Sinha, CEO & MD, Tata Power, said, “This collaboration with OREDA underscores Tata Power’s enduring commitment to the state and its people. We are proud to support the PM Surya Ghar Yojana and are aligned with the state government’s vision of mainstreaming solar power.”

OREDA Limited will collaborate with TPREL on the promotion of public awareness campaigns on various platforms, provide guidance to government agencies, and conduct regular reviews to ensure the initiative’s success. The initiative will begin by focusing on key cities—Bhubaneswar, Cuttack, Puri, Paradip, Berhampur, Sambalpur, Balasore and Rourkela and gradually expand state-wide.

Shri Saidutta Biplab Keshari Pradhan, Chief Executive Officer, OREDA Limited added, “Odisha is blessed with vast solar energy potential that must be harnessed effectively to meet the state’s growing energy demands sustainably. Our partnership with Tata Power is a significant step in the same direction. With Tata Power’s expertise and OREDA’s resources, we will accelerate the adoption of renewable energy, empowering consumers and contributing meaningfully to the state’s energy goals.”

Over the past few years, Tata Power has played a pivotal role in transforming Odisha’s energy landscape by managing power distribution operations across all four DISCOMs—TPCODL, TPWODL, TPSODL, and TPNODL—under a public-private partnership model.

With a strong commitment to renewable energy adoption through advanced technology and collaborations with state and central agencies, the company is fostering a sustainable energy ecosystem aligned with India’s net-zero goals.

Q3 2025 Earnings Call: Supreme Industries Shares Growth Strategies Amid Market Challenges

By-Mr. M. P. Taparia, Managing Director, The Supreme Industries Limited, said

Plastic Pipe Systems business growth continues to be adversely affected due to adverse PVC resin prices scenario and demand from infra spend not picking up as envisaged. Considering better demand in the second half of the year in the segments served by the Company, the Company had earlier envisaged 16-18% volume growth for the current year for the Plastic Piping System. The business fared poorly in the third quarter as PVC prices in open market were quite low compared

to domestic producer prices and due to extended winter rainfall in South India and some Eastern states. The Company expects good demand from Agri and Housing segments for the last quarter. The entire distribution pipeline has de-stocked seeing the continued fall in prices. As the prices have reached a low level, the Company expects good demand going forward in the current quarter. The Company also expects some improvement in infra sector demand, as this being the last quarter of the financial year.

The international PVC prices have stabilized at a low level. The local makers are adjusting their price close to import parity. However, there was a move from local producers to impose Anti-Dumping duty on import of PVC suspension grade resin. The decision from the Finance Ministry is awaited. Thus the PVC resin price trend remains in uncertain arena. Thus, Company is not in a position to give specific volume growth guidance. However, as several brownfield expansion of capacities are in place, the Company with its large portfolio of SKUs in this system is expected to grow 3% to 4% more than the Country growth in plastic Pipe System during this year.

All brownfield expansions at various locations of Plastic Piping Systems are progressing smoothly. The Company is well positioned to cater to increased demand of its product with increased available capacity. The company has reached to annual capacity of 8,20,000 M.T. as on 31st December 2024 and with completion of all the expansion plans undertaken in hand, total installed capacities of the Piping System Business Vertical shall reach 9,00,000 M.T. per annum by the end of FY 24-25.

Three new greenfield plants for Plastic piping division at Jammu, Bihar and Madhya Pradesh shall be taken up for execution in the coming financial year. Land at all the three places is in Company’s possession and detailed plans for products and capacities are being worked out. Equipment have arrived for PP silent pipe system which shall be launched in technical collaboration with M/s. Poloplast Gmbh of Austria during 1st quarter of FY 25-26. The newly introduced PERT Piping System and PE single wall corrugated pipes are witnessing encouraging response. Plans to increase SKUs in Bath fittings and sanitaryware segment are progressing well and till now the division has reached to 629 SKUs, from 421 SKUs at the beginning of the year. The company is servicing 40 different application based systems and continue to explore more value added systems.

The Company continues to remain focused to invest and enlarge the product basket in its piping business and to increase the range of value-added products. The company now has a SKU basket of 14234 numbers in Piping System Business Vertical. The Company has placed orders for all necessary equipment and the work on civil construction has started at its new site at Kanpur Dehat in U.P. for making Windows. In the first phase, Company has planned to put entire window making facilities at Kanpur and cater to customers in Uttar Pradesh, Uttarakhand and NCR. The Company expects to launch and supply Windows in the first half of 2025-26.

The business of Cross Laminated Film is showing improved performance with better capacity utilization. The division has also participated in institutional business and bagged good orders which are under execution. Resultantly the division expects about 20% volume growth in this business segment for the year with improved profitability. Trials have been successfully carried out for the newly developed Cross Plastic Film and samples thereof have been sent to laboratory for testing & certification as well as to potential customers for their evaluation.

The Company continues to expand its range and has introduced various new models of chair & cabinet in its furniture segment. 12 new models have been introduced in the first nine months of FY 24-25. The division continues to add showrooms to improve awareness of its range of premium products. Total No. of showrooms has reached 337 by end of December’24 from 308 as on 31st March’24. Focus on strengthening distribution channel and adding more retail outlets is continued.

In the Industrial Component division, business conditions remain moderate. However, Company expects demand scenario to further improve in sectors of home appliances & white goods which constitutes larger part of this business. It is also working to expand its customer base and develop the business in new sectors. With the revival in the business scenario of various appliances customers, the division expects better prospects going forward.

The Material Handling Division remains focused on introducing new products and also investing in new machines and moulds. Injection moulded pallets are seeing good growth and division continues to add new products in its range of pallets and dustbins. Presently the entire range of pallets are being manufactured at one location in Maharashtra. Going forward, the division plans to increase Pallet’s manufacturing locations and likely to commence from March 25. Equipment for Bubble Guard Board shall arrive by end of first quarter of FY 25-26 and likely to be in production during July-September quarter. The division continues to strive to enlarge its customer base and product portfolio paving the way for moderate growth.

Composite LPG cylinder division continues to cater to existing overseas customers and also participates in various export enquiries. Supplies against new LOI received for 10 Kg. cylinders from Indian Oil corporation Limited (IOCL) are taking place regularly and shall be completed by February 2025. The division expects to receive orders for further quantities in continuation of existing LOI. Work on standard design of 14.2 kg. Cylinder for all Oil Marketing Companies (IOCL, BPCL & HPCL) is under progress and expected to generate good business during FY 25-26 and thereafter. Commercialization of newly developed CNG Cylinders is likely to happen during January-March quarter of this year.

The Protective Packaging Division has enhanced its capacity utilization and its focus on developing customized solutions is working well. The division is continuously increasing its fabrication capacities in various geographies to cater to increased demand. Expansion activities undertaken are progressing well and shall be fully in place by end of FY 24-25. Negotiations for a suitable location for a new greenfield site near the port in the western region, to cater to export opportunities and domestic demand, has been initiated and likely to be concluded by first quarter of FY 25-26.

The Performance Packaging Division continues to utilize its capacities optimally and work on improved product mix and post extrusion value added products with minimal investment. Export opportunities remain the focus area for better value addition.

Looking at the business outlook and opportunities, the Company has planned and committed the highest capex (including carry forward commitments) of around Rs. 1500 Crs. Total cash outflow towards capex has been Rs. 718 crores during first nine months and is likely to reach around Rs. 1000 crores for the year. Entire Capex outflow shall be funded from internal accruals.

PNC-KKR’s Rs 9,000 Cr Deal: NHAI Approves 8 Assets, 2 More Expected by January End

Chandigarh, January 22, 2025: Infrastructure company PNC Infratech has received in-principle approvals from NHAI to transfer 100% stake held by it in two subsidiaries (SPVs) for the Bundelkhand and Khajuraho road projects to the KKR-backed Highways Infrastructure Trust.

With this, the PNC-KKR deal is on track for closure by 31st March 2025 as PNC Infratech is in the process of fulfilling the conditions precedents (CPs) for the transaction. One of the major CPs under the deal included a change in control approvals from the highway authorities and no objection certificates from the lenders to the projects, according to a person aware of the development.

PNC has now obtained a change in control approval from NHAI for 8 of the assets, and the approvals for 2 more assets are expected by January 2025, NOCs have also been obtained almost from all the lenders, said the person quoted above.

Till January 20, PNC has secured approvals from the NHAI for the following eight highway assets, as per its stock exchange filings between November and January:

The Company shall be able to close the deal for 10 of the 12 assets by the close of this financial year, comprising ~85% of the total deal value. The deal for the remaining 2 assets will be completed by H1FY26, said the person quoted above.

The divestment is aligned with the Company’s strategic objective of recycling the capital invested in operating road assets to leverage the ambitious growth vision that the Government of India has outlined for this sector.

PNC Infratech Limited and PNC Infra Holdings Limited a wholly-owned subsidiary of PNC Infratech Limited had executed definitive agreements on January 15, 2024, with the KKR-backed Highways Infrastructure Trust (HIT). It involves divestment of 12 of the PNC’s road assets, comprising 11 National Highway (NH) Hybrid Annuity mode (HAM) assets and 1 State Highway BOT Toll asset with approximately 3,800 Lane Kms in the states of Uttar Pradesh, Madhya Pradesh, Karnataka and Rajasthan.

Third Wave Coffee: Third Wave Coffee appoints Akshat Arora as Marketing Director

National, 22 January 2025: Third Wave Coffee, a coffee-first QSR brand, has appointed Akshat Arora as its new Marketing Director. With over a decade of experience in marketing and brand strategy, Akshat brings a proven track record of driving growth, strengthening brand equity, and creating meaningful consumer connections. His addition to the leadership team is poised to drive innovation, enhance customer engagement, and accelerate the brand’s growth in India’s dynamic specialty coffee sector.

In his new role, Akshat will spearhead initiatives to enhance brand resonance, expand digital outreach, build consumer engagement through offline and online channels, and strengthen the brand’s competitive edge in an increasingly dynamic market. His appointment comes at an exciting juncture as Third Wave Coffee celebrates the milestone of opening its 125th cafe and continues its expansion across India, reinforcing its leadership in the specialty coffee sector.

Sharing his views on how this appointment strengthens the brand’s leadership team, Rajat Luthra, CEO, of Third Wave Coffee, said, “We are delighted to welcome Akshat to the Third Wave Coffee family. His extensive experience and innovative approach to business strategies make him an invaluable addition to our team. Given the opportune stage, the brand is at, we look forward to partnering with him as we embark on the next phase of our journey. We are confident that Akshat’s leadership will elevate our marketing strategies and deepen our connection with coffee enthusiasts nationwide.”

Akshat Arora, Marketing Director, Third Wave Coffee, added, “Third Wave Coffee has already defined India’s coffee culture with its specialty coffee offerings and customer-first approach. I am excited to join this remarkable journey and contribute to the brand’s next phase of growth. My focus would be on creating a deeper preference for the brand and driving brand love as we continue to innovate and grow. Together with the team, I am committed to strengthening the brand’s legacy of transforming how India experiences coffee”.

Before joining Third Wave Coffee, Akshat had contributed to the growth of several other renowned brands like Tim Hortons, Bisleri and Jaguar Land Rover. With more than 14 years of experience he has successfully navigated competitive markets across various sectors. With over 125 outlets across 10 cities and plans to grow further, Third Wave Coffee remains committed to leading India’s specialty coffee market by prioritizing quality, consistency, and community engagement.

Indian CEOs Show Confidence in Economic Growth with Plans for AI Rollout and Workforce Expansion: PwC Survey

Mumbai, 22 January 2025: As global leaders converge to discuss the theme of “Collaboration in the Intelligent Age” at the WEF meeting in Davos, PwC’s 28th Annual Global CEO Survey: India Perspective, released here today, underscores the pivotal role played by the country in shaping the future of global innovation, sustainability, and reinvention.

According to the survey, which polled more than 4,700 CEOs across 109 countries, of which more than 75 were from India, 87% of India CEOs are upbeat about the country’s economic growth, surpassing the global average of 57%, while 74% are very confident about their respective companies’ revenue growth in the next three years. From a macro perspective, India’s robust economic growth, improved ease of doing business (EoDB), infrastructural developments, and its young and skilled workforce continue to attract investors.

However, this confidence is tempered by certain challenges. Of these, technological disruption remains top of mind for India CEOs, followed by macroeconomic volatility and inflation, and low availability of skilled labour. Disruptive technology was also listed by India CEOs as one of the top two factors influencing their company’s low economic viability.

Sanjeev Krishan, Chairperson, PwC in India, said, “For CEOs today, the challenge is to envision the ecosystem in which their company will operate in the future. This includes thinking through the impacts of megatrends like climate change and AI, evolving customer needs, shifting value pools, and the roles that their company will play.”

Optimism around GenAI, but trust is a concern

Businesses across the world have witnessed efficiency gains and increased revenue with GenAI in the last 12 months. In India too, while 51% of India CEOs are positive about GenAI’s impact on profitability, trust remains an issue, with only a third of India CEOs having high trust in AI’s integration into business processes. Expectations for higher revenue growth are in turn prompting companies to increase hiring, with 68% of India CEOs planning to hire more staff, compared to 57% last year. Globally, 42% of CEOs will increase headcount in the next 12 months, and this is perhaps more on account of, rather than in spite of, AI.

“It’s clear from our survey that GenAI is not just a technological evolution but a strategic revolution, reshaping the landscape of global business. India CEOs should embrace GenAI’s potential while also taking steps to manage risks. Responsible AI practices can mitigate many issues and are most effective when baked into GenAI strategy from the start,” added Krishan.

The climate agenda

Back in 2019, few India CEOs were concerned about using data on the impact of climate change on business to make decisions around long-term success and durability of their businesses, nor did they consider climate change as a threat to their organisation’s growth prospects. The needle has moved considerably as organisations in India are now making investments to address climate change. The survey finds that more than one-third of India CEOs noted revenue increases from climate-friendly investments over the past five years. In addition, more than 60% said these investments had either reduced cost or had no significant cost impact.

More than half of global CEOs (56%) polled said their personal incentive compensation was linked to sustainability metrics. In India, the percentage of CEOs who said that a certain proportion of their personal incentive was determined by sustainability metrics was slightly higher at 58%. The higher the percentage of CEO compensation at stake, the higher is the revenue likely to be generated from climate-friendly investments.

Many companies, however, are yet to convert climate-friendly investments – which include transitioning to energy-efficient operations, developing greener products and services, and implementing emission-reducing technologies – into additional revenues. Be that as it may, sustainability is being increasingly built into the fabric of businesses across geographies, not only as a stakeholder management issue, but also as a vector of investment.

The reinvention imperative

The interplay between macroeconomic conditions, geopolitical reconfigurations, and other external and internal threats is poised to shape the future of business and society, and fuel intelligent reinvention for business viability in the decade to come. Our survey indicates that some CEOs have already commenced on this reinvention journey. Four in ten CEOs in India and across the world said their companies have started to compete in at least one new sector/industry in the last five years. Of these, 50% of India CEOs (as against 58% globally) stated that 1–20% of their revenue came from entering a new sector or industry in the last five years.

The most common reinvention actions taken by four in ten India CEOs over the last five years are developing innovative products and services and targeting new routes to markets – for example, selling directly to consumers rather than through intermediaries. Further, 38% of India’s CEOs, as against 32% globally, have aimed at acquiring a new customer base. Collaboration with other organisations has also been a strategy for 26% of CEOs both in India and globally.

On how staying the course on the reinvention track will be key to responsible business viability, Krishan concluded, “To drive transformation, business leaders must be willing to question deeply ingrained beliefs about their organisations’ business models, even when those beliefs were the foundation of past successes. This involves not only introspection within the organisation but also a keen focus on external dynamics, exploring how a rapidly evolving environment can unlock fresh opportunities.”

Ravin Group Celebrates 75 Years with Ajay Devgn as Brand Ambassador for World Environment Day 2025

Mumbai, January 22, 2025– Ravin Group, one of India’s fastest-growing business groups and a leader in sustainability and green initiatives in India, celebrated its remarkable 75th anniversary with an inspiring and colorful evening that brought together industry leaders, policymakers, Bollywood celebrities, and business magnates. The event, themed “Taking a Sustainable India to the World,” highlighted Ravin Group’s commitment to environmental sustainability, innovation, and reliability. It also recognized the company’s legacy in shaping India’s infrastructure and its dedication to creating a greener future.

At the grand event held at the Jio Convention Center, Mr. Ajay Devgn was introduced as the brand ambassador for the World Environment Day 2025 campaign. He unveiled the campaign poster. The initiative is focused on combating plastic pollution, promoting sustainability, raising environmental awareness, and propelling India’s growth on the global stage.

Bollywood actor and businessman, Mr. Vivek Oberoi specially flew from Dubai to attend the remarkable event and introduced Pujya Shri Brahmavihari Swami, a spiritual leader and motivational speaker who leads international relations for the BAPS Swaminarayan Sanstha and the visionary behind the creation of the Temple in Abu Dhabi.

Celebrating Sustainability and Innovation, the event’s theme, “Taking a Sustainable India to the World,” was a reflection of Ravin Group’s long-standing commitment to creating a greener and more sustainable India while showcasing its role in the nation’s infrastructure development.

Ms. Pankaja Munde, Hon’ble Cabinet Minister for Animal Husbandry, Environment, and Climate Change, expressed her strong support for the initiative, emphasizing that the ministry would back efforts aimed at building a sustainable future.

Mr. Vijay Karia, Chairman and Managing Director at Ravin Group of Companies, concluded, “At Ravin Group, we are proud to be part of India’s growth story, with sustainability, reliability, and innovation at the core of everything we do. We are excited to continue this journey and contribute to the global push for environmental responsibility, all while propelling India’s economic progress.”

During the event, Bollywood actor and businessman Vivek Oberoi lent his support, saying, “This is a critical initiative, and it is heartening to see industry leaders come together for a common cause—ensuring that the future of our country and our planet is in safe hands.”

Mr. Ajay Devgn expressed his excitement about the initiative, saying, “It is an immense pleasure to be the flag-bearer for a greener tomorrow. I am grateful for this opportunity. Small changes can make a big difference, and I am committed to helping drive this vision forward.”

Dignitaries and Industry Leaders: The event was attended by key political figures including , Shri C. P. Radhakrishnan, Governor of Maharashtra, Shri Ashish Shelar, Minister for Information Technology of Maharashtra, Ms. Pankaja Munde, Cabinet Minister for Animal Husbandry, Environment, and Climate Change, Raghunath Anant Mashelkar, Indian chemical engineer and Shri Anurag Thakur, Member of Lok Sabha, and Ravi Kishan, Member of the Lok Sabha marking a significant milestone for Ravin Group’s sustainability mission.

Global Business Leaders: Notable business leaders, including Shri Ashish Chauhan, MD & CEO of NSE India, and Shri Nadir Godrej, Chairman & MD of Godrej Industries, were present, showing strong support for Ravin Group’s vision of sustainability and growth.

Bollywood Stars Shine: Bollywood icons like Ajay Devgn, Malaika Arora, Playback Singers Shaan, Sonu Nigam, Gulshan Grover, actor and film producer and Jackie Shroff, actor and producer, added glamour to the evening, highlighting the growing role of celebrities in supporting environmental initiatives.

Ravin Group’s 75-year legacy is marked by contributions to landmark infrastructure projects like Maha Metro Aqua Line, Mumbai Metro, and Hyderabad Metro. The company has pioneered innovations, such as introducing XLPE cables at PVC prices, and has been a staunch supporter of India’s renewable energy movement. Under Mr. Karia’s leadership, Ravin has become a global brand known for its dedication to sustainability and innovation.

During the event, Ravin Group presented sustainability awards to several distinguished individuals, including HH Brahmavihari Swami, Dr. Mashelkar. Other notable awardees included Shri Suresh Kotak, Shri Ashish Chauhan, Shri Ritesh Agarwal, Shri Manhar Udhas, Shri Vivek Oberoi, Shri Arnab Goswami, Shri Gulzar Saheb, Shri Lakshyaraj Singh Mewar, Shri Nadir Godrej, Shri Prasoon Joshi, Shri Sonu Nigam, Shri Vikas Khanna, and the late Rohit Patel was awarded posthumously.

The event also celebrated India’s transformative journey, from humble beginnings to becoming the world’s fifth-largest economy, highlighting the nation’s progress in manufacturing, infrastructure, and renewable energy. Initiatives like “Make in India,” “Atmanirbhar Bharat,” and “Gati Shakti” have fueled this transformation, positioning India as a global leader in sustainability and economic growth.

NeuralGarage Named Finalist at SXSW Pitch 2025

January 22, 2025; National: Bangalore-based Generative AI startup NeuralGarage has qualified as one of the 5 finalists at SXSW Pitch 2025. NeuralGarage’s proprietary and patent-filed technology ‘VisualDub’ competes under the ‘Entertainment, Media, Sports & Content’ category alongside other global start-ups. ‘VisualDub’ addresses the issue of visual dissonance in dubbed content by syncing the lips and jaws of actors with that of the dubbed audio to create a seamless viewing experience for audiences by retaining the original resolution of the content. ‘VisualDub’ is built for Films, Streaming Platforms, Broadcast Networks and Advertising. Currently, in its 17th year, SXSW Pitch turns the spotlight on the global start-up ecosystem’s most exciting, innovative, and cutting-edge technology for industry experts, VCs, and high-profile angel investors.

VisualDub boasts of strong use cases across a diverse range of content spanning theatrical films, content on streaming platforms, linear TV, and digital. The proprietary technology has been used by some of the biggest global brands for their ad films to create visually native and authentic content in every language without incurring additional production costs in those languages.

Speaking on this milestone moment, Mandar Natekar, NeuralGarage’s Co-Founder and CEO said, “SXSW is the biggest global platform that brings to the forefront emerging technologies for the global media and entertainment industry. We are delighted to be selected among the top 5 tech startups globally that will pitch in front of some of the biggest names in the entertainment industry. VisualDub is production-ready and has been built keeping in mind the exacting standards that the entertainment and media industry needs for adoption. Generative AI will rapidly change the way content is created, distributed, and consumed, and with VisualDub we are poised to drive this change from the front. We can’t wait to showcase the full spectrum of our technology at SXSW 25 in their pitch event.”

VisualDub is a product of IIT Kanpur alumni Subhabrata Debnath, Subhashish Saha, Anjan Banerjee, and media and entertainment veteran Mandar Natekar.

SXSW Pitch takes place in Austin, Texas, USA on March 8 and 9, 2025 and receives participation from Hollywood and global investors. Jim Breyer, Breyer Capital will host SXSW Pitch to a live audience of expert judges, including industry leaders such as Esther Dyson of Wellville, Arlan Hamilton of Backstage Capital, Dave Rose of Gust, Artur Gushiken of Softbank, Jessica Robinson of Assembly Ventures, Brian Dixon of Kapor Capital, Becky Center of Indiegogo, Monique Idlett-Mosley of Reign Ventures, Mohanjit Jolly of Iron Pillar Capital, and more.

Servotech Renewable Power System Posts 315% Revenue Growth and 616.8% Profit Surge for Q3 FY25

New Delhi, 22nd January 2025: Servotech Renewable Power System Ltd. (Formerly known as Servotech Power Systems Ltd.) (NSE: SERVOTECH), India’s largest manufacturer of Electric Vehicle (EV) chargers, and a leading provider of Solar solutions, EV Charger components and Power-Backup solutions, presented its quarterly financial results for the quarter and nine months ended 31st December, 2024 at its Board of Directors meeting on 21st January, 2025.

 FINANCIAL HIGHLIGHTS
Consolidated

 • Total Revenue witnessed stellar growth of 315.3% in Q3 FY25 to Rs. 21,683.2 lacs from Rs. 5,220.6 lacs in Q3 FY24
• EBITDA increased by 420.1% from Rs. 321.6 lacs in Q3 FY24 to Rs. 1,672.8 lacs in Q3 FY25
• PBT stood at Rs. 1,282.5 lacs in Q3 FY25, compared to Rs. 185.8 lacs in Q3 FY24, witnessing a growth of 590.2%
• PAT stood at Rs. 798.7 lacs in Q3 FY25, compared to Rs. 111.4 lacs in Q3 FY24, witnessing a growth of 616.8%
• In terms of 9M performance, total revenue increased by 142.1% and stood at Rs. 52,934.0 lacs in 9M FY25 compared to Rs. 21861.0 lacs in 9M FY24
• EBITDA increased by 173.1% from Rs. 1,631.5 lacs in 9M FY24 to Rs. 4,455.9 lacs in 9M FY25
• PAT increased by 184.1% and stood at Rs. 2,371.9 lacs in 9M FY25 compared to Rs. 834.8 lacs in 9M FY24, margins improved to 4.5% from 3.8% during the same period

 Standalone
• Total Revenue witnessed stellar growth of 264.8% in Q3 FY25 to Rs. 18,185.7 lacs from Rs. 4,984.5 lacs in Q3 FY24.
• EBITDA increased by 433.0% from Rs. 318.6 lacs in Q3 FY24 to Rs. 1,698.1 lacs in Q3 FY25
• PBT stood at Rs. 1,309.4 lacs in Q3 FY25, compared to Rs. 182.9 lacs in Q3 FY24, witnessing a growth of 616.0%
• PAT stood at Rs. 829.7 lacs in Q3 FY25, compared to Rs. 109.2 lacs in Q3 FY24, witnessing a growth of 659.8%
• In terms of 9M performance, total revenue increased by 148.6% and stood at Rs. 46,236.9 lacs in 9M FY25 compared to Rs. 18,601.6 lacs in 9M FY24
• EBITDA increased by 181.8% from Rs. 1,596.7 lacs in 9M FY24 to Rs. 4,499.9 lacs in 9M FY25
• PAT increased by 200.3% and stood at Rs. 2,441.8 lacs in 9M FY25 compared to Rs. 813.0 lacs in 9M FY24, margins improved to 5.3% from 4.4% during the same period

 Commenting upon the results, Raman Bhatia, Managing Director, Servotech Renewable Power System Ltd. (Formerly known as Servotech Power Systems Ltd.) said, “The quarter experienced stellar growth, fueled by our unwavering commitment to delivering cutting-edge, technology-driven solutions in electric vehicles and solar energy. As a market leader in India’s EV charging sector, currently holding a 35-40% market share, we are strategically positioned to capture 50-55% by manufacturing 12,000 DC fast chargers in FY25, meeting the rapidly surging demand for EV infrastructure. EV chargers are projected to constitute 70-75% of our total revenue, with solar products contributing the remaining portion. This dual-pronged focus on innovation reflects our dedication to creating long-term value for our stakeholders while simultaneously contributing to a sustainable future. The trust and enthusiasm of our customers and shareholders inspire us to push boundaries and set higher benchmarks. We are optimistic about the future and committed to driving growth and establishing ourselves as a global leader in renewable energy and smart energy solutions.”

AI, Reels, Creators, and WhatsApp Boost Lead Gen for Auto OEMs & Dealerships: Meta & FADA Whitepaper

Mumbai, January 22, 2025: Meta and the Federation of Automobile Dealers Associations (FADA) today unveiled a joint whitepaper and playbook highlighting the changing consumer behavior and preferences in the automotive segment driven by digital adoption. With digital influencing consumer behavior and powering the growth of the sector, the findings and recommendations from the whitepaper can unleash the digital transformation of auto OEMs and dealerships across India.

In 2023, Meta and FADA launched ‘Move with Meta’, an upskilling and enablement program to upskill more than 3000 auto dealers across the country. The initiative aimed to help them build a social presence and digitize their customer outreach and lead generation using the Meta Platforms.

Since its launch, the program has delivered exceptional results, driving a 3X growth in dealer digitization and successfully upskilling 6,000+ dealers through the hyperlocal program, surpassing the initial commitment of 3,000 dealers. More than 3000 auto dealers had been upskilled before the start of the program, which takes the total number of auto dealers that have been upskilled to 10,000.

The program resulted in improving leads and sales for auto dealers with a 32% improvement in lead generation efficiency reported by dealers. In addition, the program has directly impacted sales for leading auto OEMs across the country.

C S Vigneshwar, President, Federation of Automobile Dealers Associations (FADA) said, “At FADA, our vision is to empower dealers nationwide with the right digital tools and insights to stay ahead in a rapidly evolving market. Through our partnership with Meta, we’ve not only exceeded our commitment of upskilling 3,000 dealers—surpassing 6,000—but we’ve also seen a 3X increase in digitization and a marked 32% improvement in lead generation efficiency. This whitepaper underscores the potential of AI, Reels, and messaging platforms such as WhatsApp to strengthen customer relationships and drive growth. We look forward to scaling this collaboration further, bridging the digital gap in automotive retail, ensuring that dealers across India are future-ready, and remain agile in these dynamic times.”

Saugato Bhowmik, Director, Auto, CPG, and D2C for Meta in India said, “Our platforms and products are well positioned to enable rapid and efficient digital customer acquisition and engagement for auto dealers in a hyperlocal manner. Over the last two years we’ve upskilled nearly 10,000 dealers along with FADA to digitize their outreach and experiences through our unique hyperlocal solutions and key products ranging from Reels and AI to messaging. We’re thrilled to deepen our partnership with FADA and take on the ambitious target of upskilling 5000 more dealers in the next 2 years. This program has not only benefitted thousands of auto dealers but also proven to drive strong sales results for leading OEMs.”

Auto OEMs have reported strong sales and lead generation impact because of the program.

Virat Khullar, Group Head, Marketing, Hyundai Motor India Limited said “We’re excited to see outstanding business results through our partnership with Meta and OnlineSales on the Hyperlocal program. Together, we’ve developed a custom model that efficiently onboarded over 600 dealers in record time. In H2 ’24, Meta’s hyperlocal program drove a remarkable 37% growth in sales compared to H1, while delivering 29% reduction in Cost per Retail. As we move forward, we’re eager to scale this partnership further, leveraging cutting-edge AI and messaging solutions to unlock even greater opportunities.”

Manjari Upadhye, Chief Marketing Officer, Auto, Mahindra and Mahindra Limited said “Our partnership with Meta has helped amplify the impact of our passenger vehicle launches. Mahindra has leveraged the best and latest in technology to drive launch impact through Meta’s family of Apps. Some of the key activations include leveraging WhatsApp for Thar ROXX launch, using Partnership ads for driving consideration for XUV 700 (Intent went up +3.3 pts) and the Auto Industry’s first chat-based car configurator on Messenger and Instagram Direct for XUV 3XO, which saw 29% increase in conversation volumes. Our collaboration with Meta has driven significant impact, leading to bookings and sales, and setting new benchmarks in the industry.”

Looking ahead, Meta and FADA aim to further scale the program by upskilling 5,000 additional dealers over the next two years, reinforcing their commitment to driving innovation and efficiency in the automotive sector. FADA currently represents 15,000 auto dealers across the country.

• Key Insights from the Auto Playbook 2025
• Source: New Automobile Buyers Consumer Journey Study by Kantar Profiles. Meta-commissioned online survey with respondents aged 18-64, India, 2023.
• Meta’s influence in driving discovery & evaluation, powered by AI: 72% of new automotive buyers who were surveyed in this research discovered the brand on the Meta family of apps. Further, 69% stated that the Meta family of apps played a role in their purchase decision.
• WhatsApp Leads Buyer-Dealer Communication: Among new automobile buyers, 48% used WhatsApp to directly connect with dealerships for vehicle availability inquiries, making it the most preferred communication channel. Moreover, 47% expressed interest in receiving service reminders via messaging platforms.
• Advantage+ Placements Revolutionizing Advertising: To improve cost per lead and lead volume by Meta for their Hyperlocal dealer campaigns, Hyundai India, used AI-powered Advantage+ Placements to place their dealer ads across all Meta surfaces. They saw 18% an increase in Lead Volume and 34% decrease in Cost Per Lead.
• Reels and Creator Content Drive Purchase Decisions: 72% of automotive buyers find creator content on Instagram Reels helpful for vehicle evaluation, with 41% regularly engaging with vehicle-related Reels. By partnering with creators, dealers can build authenticity and amplify their reach.