3, Jul 2024
Kim A. Naimo’s Newly Released Phoebe the Fibber
Andover, MA, July 03, 2024 –“Phoebe the Fibber”: a charming and educational tale for young readers. “Phoebe the Fibber” is the creation of published author, Kim A. Naimo, a dedicated wife and mother who holds a BA in communications and has authored five children’s books. A licensed pastor, Kim is an avid Bible study teacher and also serves on her church’s worship team.
Naimo shares, “Phoebe has a bad habit of telling fibs. But when a tragedy comes to her neighborhood, and she tries to warn them, no one believes her. What will it take to save the town from disaster?
“The first in the series, Phoebe the Fibber helps children understand why they should always tell the truth, and the potential consequences if they don’t.
“Parental ‘For Further Study’ guide included.”
- 0
- By Rabindra
3, Jul 2024
New Storage Facility Opening in Itasca, IL
Itasca, IL, July 03, 2024 –LSC Development, LLC is excited to announce the grand opening of a new self-storage facility in Itasca, IL at 1220 Norwood Ave. serving the west suburbs of Chicago.
The facility is strategically located just southwest of the I-390, and I-290 intersection with frontage to IL Route 53 where over 19,100 vehicles per day travel north and southbound. The facility serves Itasca, Wood Dale, Elk Grove Village, Addison, Roselle, Bloomingdale, Bensenville, and other surrounding western suburbs. The 3-mile area is currently home to over 75,000 people with a median income well above the national average of $97,000.
The scope of LSC Development’s most recent adaptive reuse project included a total makeover of the former Century Tile retail and distribution center. The building was converted from a 1-story tile warehouse into a 3-story storage drive-thru facility by raising the roof and adding 2 additional stories to the building.
The new facility features 99,969 rentable square feet and 952 various-sized storage units. A 191-foot-long by 24-foot-wide drive-thru loading with drive-up contractor units along both sides is a key feature of this facility. The building is fully climate-controlled, with a state-of-the-art security system, a secure keypad access and control system, coupled with an HD camera surveillance system.
The project was designed by SGW Architects and built by Cobalt Commercial Construction. Northern Trust provided the construction loan. “It was a pleasure to work with the Village of Itasca and neighbors in the warehouse/distribution park to reactive this property and supply the community with a much-needed amenity,” said John Nikolich, President & COO of LSC Development.
The facility is managed by Extra Space Storage leading publicly traded self-storage REIT that operates more than 3,500 storage facilities. Customer contact-free leasing is available through the Extra Space online reservation system. Storage units may be rented online, over the phone, or in person for customer convenience.
3, Jul 2024
P.O.W.E.R. Recognizes Their Newest Women of Empowerment Members
Manhasset, NY, July 03, 2024 –P.O.W.E.R. (Professional Organization of Women of Excellence Recognized), a selective national networking organization committed to recognizing and supporting the achievements of women, announces its newest Women of Empowerment members. These accomplished women have made remarkable contributions in their respective industries and exemplify the mission and values of P.O.W.E.R.
The newest Women of Empowerment members include:
Adrian Agulto–Information Technology/IT
Aileen Regina Stewart–Recreational Services
Amanda Bunnell–Financial Services
Amber Morrow–Real Estate
Amy Shannon–Publishing
Angela V. Harris–Coaching
Angelenna Yvette Hare–Logistics/Procurement
Angelique M. Rivera–Beauty/Cosmetics
Anna Brown Ehlers–Creative Art
Annette Jones–Education
Belinda Squires–Cleaning Service
Beth Caldwell–Coaching
Betsi Smith–Law/Legal Services
Blanka Prusova-White–Real Estate
Brandi Slaughter–Massage Therapy
Brenda G. Rasheed–Education
Carmond J. Taylor–Nutrition/Wellness
Carolann Brockman–Accounting
Cassandra Clitus–Real Estate
Cathy A. Roberts–Real Estate
Cheri Christensen–Fine Art
Cherlyn Oliver Gresham–Government
Cindy Maiella–Financial Services
Coralie Huges Jensen–Publishing
Dana Cahill–Health/Fitness
Dana Kismetova Ruusinen–Financial Services
Darlene Donovan–Healthcare
Darlyn White–Healthcare
DeAsia A. Byrd–Consulting
Dominique Carson–Publishing
Donna S. Barriteau–Non-Profit/Volunteering
Doris O. Iheagwam–Social Services
Dorothy Winningham–Health/Fitness
E. Faye Williams–Civic/Social Organization
Emily E. Boucher–Advertising/Marketing
Felecia Burton–Mental Health Care
Fleeta Caro–Healthcare
Folashade Abiola-Banjac–Law/Legal Services
Franka Arcangeli–Mental Health Care
Gail E. Marvin–Esthetics
Heather K. Lechner–Education
Heaven Britton–Consulting
Helen M. King–Equestrian
Jami Turner–Travel
Jamie Pinske–Healthcare
Janet Gadbois–Logistics/Procurement
Janine Booth–Logistics/Procurement
Jeana Wertz–Government
Jeanna Fox–Advertising/Marketing
Jeannette H. Austin–Genealogy
Jenna Mae Begley–Healthcare
Jennifer Helms–Maritime
Jessica Pace-Berkeley–Fine Art
Jessica A. Oltman–Alternative Medicine
Joan Kaliff–Publishing
Johnnie Mae Scott–Ministry
Jolie Swanson–Accounting
JoyAnne O’Donnell–Publishing
Juanita Pearson–Childcare
Judy S. Morales–Social Services
Kamero C. Hurst–Mental Health Care
Kara Onorato–Healthcare
Karen Elise Wormack–Publishing
Karie Carlson–Real Estate
Kathleen A. Warwick–Massage Therapy
Kendra J. Jones–Consulting
Khrista Cowart–Photography
Kim Crickard–Fine Art
Kim Groshek–Life Coaching
Kimberly J. Jessup–Publishing
Kimberly M. Cloud–Broadcasting
La Sandra Renee Brown-Nelson–Government
Laura Kinney–Education
Laura Massey–Healthcare
Laura R. Bistok–Law/Legal Services
Lawanda Miller–Religion
Leann N. Wilk–Healthcare
Linda Lopipero–Security
Linda A. McDowell–Coaching
Linda B. Sherrell–Education
Linda M. Garris-Bright–Healthcare
Lisa Ekstrom–Real Estate
Lois E. Lund–Publishing
Loraine Brady–Publishing
Loretha O. Knapp–Education
Lorraine Zapata–Education
Lucy Amundson–Education
Lydia Santibañez–Ministry
Lynette D. Jones–Esthetics
Majestic Dismute–Government
Mandy L. Fair–Retail Industry
Maria Alston–Publishing
Maria Richards–Beauty/Cosmetics
Maria K. Gay–Non-Profit/Volunteering
Marilyn Miller–Consulting
Martha McKee–Law/Legal Services
Megan Haynes–Mental Health Care
Mesale Solomon–Human Resources/HR
Michelle Dantz–Publishing
Myia C. Ellington–Childcare
Nanette L. Mosely–Cleaning Service
Natasha Elliott–Coaching
Ndaitavela Lister–Health Services
Nedra J. Moran–Healthcare
Nova N. Walton-Marriott–Education
Pamela Byk–Financial Services
Patricia J. Merrill–Mental Health Care
Paulette B. Parker–Education
Pennie Brantley–Fine Art
Rachel Stuckey–Advertising/Marketing
Rebecca Finch–Journalism
Rene A. Artman–Government
Renee Pulliam–Travel
Rhodora B. Lacap–Health Services
Richeena Hardwick–Fine Art
Robin Snead–Healthcare
Ronesheia Walker Ebe–Mental Health Care
Sandra Strength–Entertainment
Sandra K. Jordan–Education
Sarah Choudhary–Information Technology/IT
Sarah Estrada–Beauty/Cosmetics
Shannon A. Carnegie–Beauty/Cosmetics
Sharon Mosby–Art
Sharon Samuels Reed–Education
Sharonda Walker–Retail Industry
Sierra K. Mustaqeem–Life Coaching
Stacy Brecht–Business
Susan Spates–Education
Suzy C. Herring–Transportation
Tara Marie Ernest–Manufacturing
Teisha A. Reid–Beauty/Cosmetics
Terran Mitchell–Education
Thuy Rosa Nguyen–Beauty/Cosmetics
Tina Marie Davis–Hospitality
Tiona D. Harris–Education
Trine R. Raya–Education
Vanesa S. Semler–Animal Care
Vanessa Morgan–Advertising/Marketing
Vanessa Williams–Technology
Victoria Kendrick–Financial Services
Victoria Strickland–Consulting
Victoria A. Zambrano–Healthcare
Vidhya Sundaram–Financial Services
Vikki L. Sherman–Construction/Building
Vivi Muchila–Accounting
Walena Gaspard–Ministry
Wanda Carter Roush–Publishing
Wanda E. Germer–Construction/Building
Wanda L. Edwards–Beauty/Cosmetics
Yadira Leal Faherty–Government
Yolanta Sagan Smith–Healthcare
Yvonne Lane–Travel
As a prestigious organization dedicated to empowering women across various professions, P.O.W.E.R. provides a powerful network where members can mentor, inspire, and empower each other to reach their full potential. Through their valuable services and collaborations with like-minded professionals, P.O.W.E.R. offers its members opportunities for recognition, exposure, and knowledge sharing with successful individuals in their fields.
Members can connect with women from all professions, participate in networking events, and build successful business contacts and lasting friendships. The organization is led by Tonia DeCosimo, an entrepreneur, business strategist, and ultimate connector who is passionate about women’s empowerment. P.O.W.E.R. also publishes a digital and exclusive print magazine featuring both celebrities and everyday hardworking professional women. The magazine showcases the stories and achievements of its members, providing inspiration and insights to readers.
If you are a woman who has made significant achievements in your profession and community, or know someone who has, you may qualify to join the prestigious P.O.W.E.R. community. Membership provides access to a strong network of women, opportunities for recognition, and resources for personal and professional growth.
3, Jul 2024
Shark Tank Winner Launches Organic Ketchup for Kids, Set to Revolutionize Family Mealtimes
New York, NY, July 03, 2024 — Noshi, who appeared on Shark Tank last year and secured a deal from Mark Cuban, is thrilled to announce the launch of its new organic ketchup specially designed for kids. Made from organic ingredients, Noshi ketchup is thick, tangy and delicious, and set to be a game-changer in the condiment market thanks to its innovative packaging and kid-focused approach.
This vegan, gluten-free, and kosher-certified ketchup comes in convenient 10oz tubes, making it easy for kids as young as three to handle and use independently. Research from the National Library of Medicine shows that giving kids more responsibility in the prep of their own food results in them eating more.
Noshi’s ketchup is set to debut exclusively at Pop Up Grocer in New York on July 12, offering big city kids the first taste of this exciting new product. It will then be available for purchase on Amazon from July 25th, ensuring that families all over the USA can experience this eye-catching and fun new condiment for kids.
Get ready to elevate your kids’ mealtime experience with Noshi Organic Ketchup – a healthy, fun choice that kids love and parents can trust.
3, Jul 2024
What to Expect from Union Budget 2024
Finance Minister Nirmala Sitharaman is likely to present the 2024-25 Budget on July 24, with the Economic Survey preceding it on July 23. The real estate sector anticipates reforms such as increased tax deductions for home loans, reduced GST on under-construction properties, and adjustments to raw material pricing. The civil aviation industry seeks tax rationalization and the inclusion of aviation turbine fuel under GST.
The government may raise the Section 80C limit in the old income tax regime but significant relief is unlikely, as the focus is on promoting the new tax regime. Sitharaman faces the challenge of balancing economic growth, inflation control, and fiscal consolidation while addressing the demands of key political allies.
Comments
Mr Udit Garg, CEO & Director, Kundan Green Energy.
“As India enters the next phase of its growth trajectory, its energy demand set to grow exponentially – about 335 GW by 2029-’30. The fact that demand for energy is outstripping supply can be gauged by the plant load factor of thermal plants. This measure of capacity utilization went up from 71% last year to 76% in January 2024. The coal fired energy addition has been set very high at 80 GWs (claimed by Government as under construction) because there is unsatisfactory renewable energy generation. While tenders have exceeded targets in green energy, we have a long way to go —- we must add about 40 GWs annually in green energy until 2030 while we are clocking a mere 10 GWs per year. We should see this in the sharp paradoxical juxtaposition of the fact that India is committed to nett zero by 2070, is accelerating thermal power generation, has slow and below target renewable energy addition and is increasing its energy demand rapidly. Clearly, the answer lies in disproportionately increasing green energy generation. The sector must see exponential increase in investments. I hope the forthcoming Union Budget would facilitate the ecosystem for this. With a robust investment inflow enabled by policy stimulus, the sector can add 50-60 GW annually from the present 10 GWs to 15 GWs. Higher loan capital is vital for this. With financial infrastructure, and a streamlining of land acquisition, I am confident of incremental market depth and scope which has a direct bearing on the sector. Besides this, an often overlooked area which we should consider is dedicated transmission corridors along the lies of the Green Energy Corridor (GEC) for renewable power evacuation. This will go a long way in addressing power evacuation issues faced by hydropower developers, especially in the northeast.
While there are several suggestions for the Government to consider, these are amongst the most topical.”
Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance.
“Over the past decade, India has achieved remarkable economic growth, with GDP consistently exceeding 6% and surpassing many global economies. As we approach this budget, we anticipate measures that will sustain and simultaneously accelerate this long-term growth, benefiting individuals and businesses alike, with a strong emphasis on job creation. Addressing inflation is crucial for securing a robust financial future for individuals, as it will enable them to have more money in hand, towards savings and investments for their long-term goals and financial security.
With increased earning power and disposable income, Indian citizens will be able to invest in versatile life insurance products for their peace of mind and financial goals. Given the under penetration of life insurance in the country, there is substantial room for sectoral growth.As an industry, some of our budget expectations from the finance ministry is to consider lower GST on life insurance products. Additionally, in the pension products category, with the objective of securing post-retirement financial needs of the individuals, we urge the government to align life insurance annuity or pension products with the National Pension Scheme (NPS) and allow the similar additional deduction of Rs. 50,000 or more for life insurance annuity or pension products under Income Tax.We also request the ministry to introduce Long Term Capital Gain taxability for all high value traditional life insurance plans (more than Rs.5 lakhs aggregate annual premium), in line with high value ULIPs. This will bring in uniformity and tax efficiency for insurance customers at par with other similar financial products in the market.”
Amit Lakhotia, Founder & CEO, Park+
“Indian cities are evolving at a rapid rate- mass migration, infrastructure upgrades, increase in vehicular ownership penetration and our pursuit to build 100 smart cities by 2024 has been a game changer. Having said that, for India to truly build smart cities, it is imperative that we also embed smart vehicular management systems within the current urban architecture. With over 45cr+ vehicles (4W, 3W ,2W) on Indian roads today, we need to ensure that real estate players, auto-tech startups, OEMs, local municipalities, and government bodies, work together to offer services to make Indian roads smart and safe. All stakeholders need to work together to provide safe/legal parking spots, unclog gridlocks, combat monsoon triggered flooding, create smart traffic management systems, build EV charging stations, ensure better driving behavior, and reduce road accidents. I look forward to seeing the government promoting polices & launching initiatives to build smart cities of the future, which are safer, smarter and livable.”
Mr. Kush, CEO of Essar Power.
“As India continues its journey towards a future of net-zero emissions, we commend the government’s forward-thinking approach to sustainability and applaud its ambitious green objectives. Furthermore, we appreciate the government’s strategy to reduce carbon emissions while ensuring a reliable base load through thermal power plants. Promoting technologies like Advanced Ultra Super Critical (AUSC) power plants underscores this commitment, offering reduced carbon footprints compared to traditional plants.
As we approach the Union Budget 2024, we anticipate strategic initiatives that will drive growth and sustainability. We hope to see significant allocations towards renewable energy projects, enhanced grid infrastructure, and innovative technologies. Additionally, policy reforms aimed at reducing regulatory bottlenecks and promoting private investment will be crucial. These measures will not only help in meeting the growing energy demands but also in achieving the nation’s ambitious targets for a greener and more resilient energy future.”
Mr. Pankaj Kalra, CEO of Essar Oil & Gas Exploration & Production Ltd (EOGEPL).
“With economic activities on the rise and considering the geo-political scenario, the demand for Oil & Gas is expected to remain stronger for longer. As the country has plans to raise share of gas in energy mix to 15%, we foresee that the upcoming Union Budget prioritize policy frameworks and measures for the Oil and Gas sector. Addressing the tax structure in this sector is imperative as natural gas, crude oil, and other petroleum products remain outside the GST ambit, leading to an increasing demand for their inclusion in the GST regime. The government’s policy reforms can significantly strengthen the energy sector and ensure stability amidst volatile global crude markets. We aim this upcoming budget will focus on growth, collaboration between industry stakeholders and policymakers will be crucial ones for incessant development.”
Mr. Anand Mimani, CEO of Greenline Mobility Solutions
“LNG has a key role to play in India’s energy mix as the country aims to walk the line between growth and sustainability. Its potential as a bridge fuel in India’s energy transition can only be realised with creation of virtual pipelines. Our expectations from the budget would be to create an ecosystem conducive to the setting up of such virtual pipelines. At the same time we call for greater focus on implementing the reforms enacted to promote natural gas use and call for natural gas to be given infrastructure status so that we can maintain our rapid pace of economic growth without compromising progress on our sustainability goals.”
3, Jul 2024
Sortrefer Hosts Second Conveyancing Levelling Up Forum
Derby, United Kingdom, July 03, 2024 –The initiative, headed by Kevin Tunnicliffe, CEO of Sort Group, was launched in January 2024 with an inaugural event in Manchester. This brought key industry players together for an open discussion on how they can improve the experience for the law firm, intermediary and client alike.
Informal discussions have been taking place since then, resulting in a second forum at the Park Plaza hotel in Nottingham. Representatives from conveyancing firms and panel managers who attend the inaugural session in January were joined a number of new attendees.
Discussions covered topics ranging from industry collaboration and logjams and escalation points to the inconsistency of conveyancing quotations and the government’s levelling up initiative. The conversations were positive and facilitated honest conversations around the current challenges and potential industry-wide solutions.
The first action point emerging from the forum is a commitment to collaboration through the creation of an escalation point framework, which aims to foster better communication and co-operation among law firms.
Everyone in attendance has now agreed to share their escalation contact details to help law firms work better together in future. An update on this will be announced soon.
Speaking about the success of the second levelling up forum, Kevin Tunnicliffe, CEO of the Sort Group, said:
“Our second ‘Levelling Up’ forum was just as positive as the first one held in January. There are currently lots of different improvement schemes being implemented across the property industry, and this is our contribution towards having an impact on the elements of the process we can change for the better.
“Levelling Up forums are now a regular fixture on the industry calendar with events taking place three times a year at a different geographical location. This geographical rotation will allow us to engage a wider range of professionals and incorporate diverse perspectives from across the country.”
SortRefer continues to set industry benchmarks, providing clients with transparent fee structures and delivering quick and cost-effective services, establishing themselves as a trusted choice for clients seeking conveyancing and legal solutions.
3, Jul 2024
Fencing Contractor in College Station Unveils New Website to Enhance Customer Experience
College Station, TX, July 03, 2024 — Priority Quality Fencing & Lawn Care, a family-owned business with eight years of experience, is excited to announce the launch of their new website: www.priorityqualityfencing.com. The new site is designed to provide an ideal viewing experience across a wide range of devices, offering users a seamless and modern browsing experience.
The website features a comprehensive list of fencing and lawn care services, including installation, repair, and removal services for wooden, chain link, barbed wire, and wrought iron fences. In addition, visitors can explore a photo gallery showcasing the company’s best work and easily find contact information to request free estimates.
“Our goal with the new website was to create a resource that’s both informative and easy to navigate, ensuring our clients can quickly find the information they need,” said Matt Gallo, senior marketing representative at Prospect Genius, the marketing company responsible for the website’s development. “We’re confident that the new site will help Priority Quality Fencing & Lawn Care better connect with their community and showcase the quality of their work.”
Priority Quality Fencing & Lawn Care serves a wide area including Bryan, Burton, Carmine, Giddings, La Grange, Navasota, Round Top, Smithville, Somerville, as well as all of Brazos, Burleson, Fayette, and Washington Counties. Known for their top-notch customer service and high-quality workmanship, they continue to build a strong reputation in the region.
3, Jul 2024
Sk. Saifuddin Mahmud Discusses Strategic Vision for Future-Ready Travel Agencies
Dhaka, Bangladesh, July 03, 2024 –Sk. Saifuddin Mahmud, Sr. Deputy Manager at Roomchai Limited, shares his vision for the future of travel agencies amidst a rapidly evolving industry landscape.
Mahmud emphasizes the transformative impact of technology on travel agency operations, noting the essential role of digital platforms in enhancing customer experiences. “In today’s digital age, travel agencies must leverage advanced technologies to offer seamless and personalized travel solutions,” Mahmud stated. He highlighted Roomchai Limited’s investments in state-of-the-art online booking systems and mobile applications, designed to streamline booking processes and deliver tailored travel experiences.
Beyond technology, Mahmud underscored the importance of innovation in driving competitiveness and meeting evolving customer expectations. He discussed Roomchai Limited’s commitment to developing innovative travel packages and fostering strategic partnerships to expand service offerings. “Our focus is on anticipating market trends and delivering unique travel experiences that resonate with our clients,” Mahmud added.
Customer-centricity remains a cornerstone of Roomchai Limited’s approach under Mahmud’s leadership. Mahmud emphasized the agency’s dedication to listening to customer feedback and continuously improving service delivery. “By understanding and responding to customer preferences, we aim to exceed expectations and build long-term relationships,” he explained.
Looking ahead, Mahmud outlined Roomchai Limited’s strategic priorities, including expanding digital capabilities and embracing sustainable tourism practices. He emphasized the agency’s role in promoting responsible travel and supporting local communities through ethical tourism initiatives.
As travel agencies navigate an increasingly competitive landscape, Mahmud stressed the importance of agility and strategic foresight. “Adaptability is crucial in responding to changing market dynamics and emerging customer needs,” Mahmud advised. He encouraged travel agencies to innovate proactively and embrace a culture of continuous learning to stay ahead in the evolving industry.
In conclusion, Sk. Saifuddin Mahmud’s insights offer a glimpse into Roomchai Limited’s strategic vision for future-ready travel agencies. His leadership underscores a commitment to innovation, customer-centricity, and sustainable practices, positioning Roomchai Limited as a leader in the dynamic travel industry.
3, Jul 2024
Shraddhanjali 2024: A Tribute to Suramani Bauri Bandhu Sethi
Bhubaneswar, July 3, 2024 – Swaranjali Delhi, in association with Rama Devi Women’s University and supported by SSEPD and the Odisha government, is proud to announce “Shraddhanjali” 2024, an evening of classical vocal and instrumental music. Scheduled for July 8 and 9, 2024, at Rama Devi Women’s University in Bhubaneswar, this event is part of the ongoing “Azadi Ka Amrit Mahotsav” celebrations.
This musical extravaganza pays homage to the late Suramani Bauri Bandhu Sethi, an eminent Odisha sitar maestro, scholar, and guru. His legacy will be honoured through performances by his students and distinguished North Indian classical artists from Odisha, Delhi, Kolkata, and Mumbai.
Program Highlights:
Day 1 – July 8, 2024:
Beenkar Instrumental Group: Headed by Saundrya Ranjan Roy & Jiban Prakash Das
Rosy Dutta: Vocal
Subhasis Bose: Hansaveena
Day 2 – July 9, 2024:
Pragnya Mishra: Vocal
Soumi Majumdar: Vocal
Subrata De: Sitar
Co-Artists:
Susamoy Mishra, Amit Chatterjee, Sayan Chatterjee, Amitava Sen
Honorary guests including Prof. Aparajita Chowdhury, Smt. Shyamali Mohapatra, Manoranjan Nayak, and Dr K C Jena will grace the occasion, adding prestige to this cultural celebration.
This two-day event aims to enrich Indian classical music and showcase the talents of upcoming musicians, fulfilling Swaranjali’s mission to uplift Odisha’s art scene. Swaranjali is grateful to the administration of Utkal University for providing accommodation to our artists.
Event Details:
Dates: July 8 and 9, 2024
Time: 5:00 PM onwards
Venue: Rama Devi Women’s University, Temple City, Bhubaneswar
Entry: Free for all
3, Jul 2024
JK Lakshmi Cement Reports Robust Q4 and FY 2023-24 Result, Net Profit jumps 28percent to Rs.424.32 Crores in FY24
New Delhi, Delhi, India JK Lakshmi Cement Limited (JKLC) today announced its financial results for the fourth quarter (January-March) of the fiscal year 2023-24, along with full financial year 2023-24, demonstrating robust operational performance and a steadfast commitment to sustainability.
KEY HIGHLIGHTS
- The Standalone Net Sales increased by 4% in FY’24.
- The Standalone Sales Volume increased by 1% in FY’24.
- The Company achieved a Capacity Utilization of 89% in Q4FY24 Vs 79% in Q3FY24.
Commenting on the company’s results, Smt. Vinita Singhania, Chairperson & Managing Director, JK Lakshmi Cement Ltd., stated, “We witnessed robust performance in the fourth quarter. The Profitability of the Company improved on the account of higher volume, better product & sales mix and reduction in fuel cost. At JK Lakshmi Cement, our commitment to sustainability and innovation continues to drive our strategic initiatives. The promising forecast for housing real estate sales, along with the government’s sustained focus on enhancing logistics infrastructure, presents tremendous opportunities for us. These developments allow us to contribute to national advancement while continuing to lead in sustainable cement production.”
The company’s vision on Sustainability and increasing capacity is manifesting in key initiatives and achievements this year.
SUSTAINABILITY
- The Company is implementing a Project for enhancing its TSR from 4% to 16% in a phased manner at its Sirohi Cement Plant as a part of its Green Initiatives.
- The Company is also enhancing its WHR Capacity by 3.5 MW at Sirohi, which will come into stream in First Quarter of FY’25.
- The Company has tied-up under the Captive Route, sourcing of Solar Power of 40 MW for its Integrated Cement Plant at Durg in Chhattisgarh. With this Sourcing, the Share of Renewable Power at Durg Cement Plant has increased from 36% to 80% from October 2023.
CAPEX
- The Company’s Subsidiary, Udaipur Cement Works Ltd. (UCWL) had successfully commissioned its second Clinker Line of 1.50 Million Tonnes Per Annum in October 2023, whereby its Clinker Capacity has doubled to 3 Million Tonnes Per Annum. The Cement Grinding Capacity of 2.5 Million Tonnes Per Annum was commissioned in March 2024.
- The Company is in the process of expanding its Cement Grinding capacity at its Surat Grinding Unit from 1.35 Million Tonnes to 2.7 Million Tonnes. The Project is likely to cost Rs.225 Crores to be funded through Term Loans from Bank of Rs. 150 Crore & balance through Internal Accruals.
- The Company is expanding the Clinker Capacity at its integrated Cement Plant at Durg in Chhattisgarh by putting up an Additional Clinker Line of 2.3 Million Tonnes Per Annum & Four Cement Grinding Units aggregating to 4.6 Million Tonnes Per Annum at Durg in Chhattisgarh and also Three Split Location Cement Grinding Units with aggregate Cement Grinding Capacity of 3.4 Million Tonnes Per Annum at Prayagraj in Uttar Pradesh, Madhubani in Bihar & Patratu in Jharkhand. The Project is likely to cost Rs.2500 Crores & is proposed to be funded through Term Loans from Banks of Rs.1750 Crores & balance through Internal Accruals.
- The Company is also putting up a Railway Siding at its Durg Cement Plant at a Cost of Rs.325 Crores to be funded through a Debt of Rs. 225 Crores & Balance from Internal Accruals.
ACQUISITION
- During the Quarter, the Company acquired 85% stake in M/s. Agrani Cement Private Limited at a total Purchase Consideration of Rs.325.11 Crores. Consequent to this Acquisition, M/s. Trivikram Cement Private Limited, M/s. Mahabal Cement Private Limited & M/s. Avichal Cement Private Limited, wholly owned subsidiaries (WOS) of M/s. Agrani Cement Private Limited have become the step-down subsidiaries of the Company. These step-down subsidiaries together with M/s. Agrani Cement Private Limited (jointly called as “Trivikram Consortium”) have been jointly granted Mining Rights having Limestone Reserves of approx. 335 Million Tonnes.
OUTLOOK
The cement industry in India has experienced a robust growth trajectory, underscored by the government’s intensified focus on infrastructure development and the revitalization of the real estate sector. Anticipated to sustain its vigour, the demand for cement is poised to remain robust, propelled by governmental initiatives aimed at significant infrastructure projects, including the construction of highways, railways, and affordable housing.
The Government of India continues to champion infrastructure development as a pivotal catalyst for economic growth. In the recent Union Budget for 2024-25, substantial allocations have been directed towards pivotal infrastructure endeavors:
- Rs. 2.5 trillion designated for the construction of highways and expressways.
- Rs. 1.5 trillion allocated for the enhancement of the railway infrastructure, including the expansion of the metro rail network.
- Rs. 1 trillion earmarked for the construction of affordable housing units under the Pradhan Mantri Awas Yojana (PMAY).
FINANCIAL HIGHLIGHTS
Standalone
| Particulars |
Units |
Jan-Mar 24 Quarter |
Jan-Mar 23 Quarter |
Apr-March 24 Full Year |
Apr-March 23 Full Year |
|
| Sales Volume |
Lac Tonnes |
25.51 |
26.65 |
96.08 |
94.79 |
|
| Net Sales |
Rs. Crores |
1647.78 |
1728.87 |
6319.77 |
6071.05 |
|
| PBIDT |
Rs. Crores |
293.44 |
206.89 |
927.76 |
766.50 |
|
| PBT |
Rs. Crores |
223.32 |
137.27 |
645.56 |
481.46 |
|
| PAT |
Rs. Crores |
142.35 |
97.32 |
424.32 |
330.77 |
|
| Net Debt to EBIDTA |
Times |
0.22 |
(0.10) |
|||
| Net Debt Equity |
Times |
0.07 |
(0.03) |
Consolidated Financial Results for the Quarter & Twelve Months ended 31st March 2024.
| Particulars |
Units |
Jan-Mar 24 Quarter |
Jan-Mar 23 Quarter |
Apr-March 24 Full Year |
Apr-March 23 Full Year |
|
| Sales Volume |
Lac Tonnes |
32.62 |
32.34 |
119.89 |
114.18 |
|
| Net Sales |
Rs. Crores |
1780.85 |
1862.07 |
6788.47 |
6451.50 |
|
| PBIDT |
Rs. Crores |
362.82 |
249.35 |
1120.26 |
896.23 |
|
| PBT |
Rs. Crores |
250.00 |
161.81 |
732.49 |
534.48 |
|
| PAT |
Rs. Crores |
162.06 |
114.83 |
487.87 |
369.11 |
|
| Net Debt to EBITDA |
Times |
1.23 |
1.07 |
|||
| Net Debt Equity |
Times |
0.43 |
0.34 |
