Shyam Metalics Unveils SEL Tiger Foil

Kolkata, 29th April 2024 – Shyam Metalics and Energy Ltd, the leading and fastest growing metals manufacturing company in India, proudly unveils its latest development, the “SEL Tiger Foil”. Crafted with a deep dedication to preserving food freshness and increasing sustainability, SEL Tiger Foil is a testament of excellence in household food safety.

Driven by the strong demand and a projected 7.4% CAGR growth in the aluminum foil segment by 2030, Shyam Metalics is poised to benefit from increased demand and business opportunities in this sector.

SEL Tiger Foil is being manufactured in Giridh, Jharkhand by Shree Venkateshwara Electrocast Private Limited, a step-down subsidiary of Shyam Metalics and Energy Ltd is available in 2 categories, microns, 11 microns, and 18 microns. Each variant is tailored to meet diverse food storage needs. A range including 9-meter rolls for occasional needs and 72-meter rolls provides an ample supply of aluminum foil for everyday culinary endeavors, with an ideal size for regular use. This launch also heralds a new, nature-friendly box design, underscoring Shyam Metalics’ dedication to sustainable practices.

Mr. Sheetij Agarwal, Director of Shyam Metalics and Energy Ltd., stated, “SEL Tiger Foil continues our tradition of relentless innovation to meet consumer and environmental needs. By introducing this new line of products, we’re not just offering convenience; we’re also delivering freshness and eco-consciousness to households worldwide. It is our belief that SEL Tiger Foil will not only maintain food freshness and safety but will also contribute to a more sustainable future.”

SEL Tiger Foil offers superior food protection, long-lasting use, and eco-conscious packaging. The non-stick material is crafted from 100% organic cellulose and features grease-proof properties, making it ideal for an array of culinary applications. It has been rigorously tested and certified for food safety. Moreover, SEL Tiger Foil is recyclable, aligning with the principles of responsible consumption.

An Oasis of Fun for Kids: Jus’ Jumpin’, India’s Ultimate Playland, Now at Urban Square Mall

Urban Square Mall, Udaipur’s largest shopping and entertainment destination, announced its exciting partnership with Jus’ Jumpin’- India’s Ultimate Playland. Marking its debut in Rajasthan, Jus’ Jumpin’ is a trampoline park offering an unparalleled experience for kids up to 11 years old, and the opening of its 11th store in Udaipur is no exception.

With an expansive 2022 sq. ft. space, the addition of Jus’ Jumpin’ at Urban Square Mall redefines playtime for little ones. Offering an array of unique and thrilling rides and entertainment options, each visit promises a roller coaster of excitement for all kids. In addition to its exciting attractions, Jus’ Jumpin’ offers irresistible birthday packages designed to make every child’s birthday celebration memorable.

Excited about this partnership with Jus’ Jumpin’, Mr.Uddhav Poddar, Managing Director, Bhumika Group, expressed, “We are happy to welcome Jus’ Jumpin’ to Urban Square Mall, further enhancing our commitment to providing unparalleled entertainment experiences for families in Udaipur. Jus’ Jumpin’ is more than just a trampoline park; it’s an oasis of fun where kids can unleash their imagination and boundless energy. We are confident that the addition of Jus’ Jumpin’ will elevate the mall’s offerings and create lasting memories for families.”

Peoples Forum for Rise of South Asia- Pffrosa Launched

New Delhi,29th April 2024: “This is a century of Asia and South Asia with India as a leader has an important role to play in global scenario for overall peace, harmony and progress, as enshrined in our age-old Indian ethos of Vasudhev Kutumbkam”, said Mr. Sanjay Bhalla, General Secretary of ARSP Foundation (Indian Council of International Cooperation) while launching ‘Peoples Forum for Rise of South Asia- PFFROSA’, a two days’ summit at Vishwa Yuvak Kendra in New Delhi. It’s a joint initiative of ARSP Foundation, Yuvsatta (youth for peace)-NGO, Gandhi Smriti & Darshan Samiti, New Delhi under the Ministry of Culture, Government of India and Atmashakti Trust. Supported by Harijan Sewak Sangh, Gandhi Global Family & South Asia Peace Alliance.

Mr Pratap Singh, President of ARSP Foundation said that they’re focussing on building South Asia from the bottom-up with a focus on four key areas of ‘Trade, Tourism & Technology, encashing the demographic dividend, ensuring gender equality at all levels in our society and harnessing of water resources for environmental sustainability and action.”

Participating in the debate Mr Mahaveer Singhvi, IFS, Joint Secretary, Ministry of External Affairs, Government of India added that no developmental goal is unsurmountable if developing nations emerge as one with a focus on 3T’s i.e. Travel, Trade & Technology.

In this two-day summit, powered by collaboration with Manav Rachna University and LAVA Mobiles, many prominent people are participating namely include Mr Shailendra Kumar, Chairman of TIOL Knowledge Foundation, Mr. Nitesh Raj, Advisor TV9 Digital, Prof. (Dr.) Sankar Kumar Sanyal, President, Harijan Sewak Sangh, Prof. Monica Munjial Singh, Member, CCPCR-Chandigarh Commission for Protection of Child Rights, Mr Vijay Bhartiya, Director, South Asia Peace Alliance-SAPA, Mr Bhaskar Koirala, Former Director of Nepal Institute of International and Strategic Studies, Dr. Jwala Prasad, Director, Gandhi Smriti & Darshan Samiti and Sh. Anupam Shrivastava, former CMD of Bharat Sanchar Nigam Limited (BSNL).

On the occasion some exemplary social leaders were honoured with PFFROSA Youth Leadership Awards and they were Mr. Vishal Sehgal, Co-founder & Director, LAVA Mobiles, Mr. Rajnish Kumar, Secretary, Rajghat, Dr Geeta R. Thakur, Dean Students Welfare, Manav Rachna International University, Mr. Vedabhyas Kundu, Programme Officer, Gandhi Smriti & Darshan Samiti, Dr. Om Prakash Kansal, Country Advisor-India, Global HPV Cancer Free, American Cancer Society, Ms. Jaya Bharti- Programme Lead, Atmashakti Trust, Ms. Ankita Thakur, Programme Manager, JISA-Japan India Sustainability Alliance, Mr. Chheku Dukpa ‘Jackson Dukpa’, Founder, Global Village Connections (GVC), Bhutan, Mr. Abdul Hamid Bhatt, CEO, Rahim Greens alias Treeman of Kashmir, Mr. Sundar Ghimre, Secretary, CPN UML, Ramechap Municipality, Nepal, Mr. Nagendran Kathegan, Mannar District, Northern Province, Sri Lanka, Mr. Bashyal Deepak, Jagriti Child & Youth Concern-JCYCN, Nepal, Mr. Bawi Hlei Hu from Myanmar, Mr. Rajesh Nepali, General Secretary, Nepal National Oppressed Student Union, CPN- UML, Nepal, Mr. Uday Shankar Singh, CEO, Vishwa Yuvak Kendra.

Mr Sanjay Bhalla, Secretary General ARSP Foundation along with Mr Pramod Sharma, founder of Yuvsatta-NGO, who are the organizers of this initiative concluded the summit by sharing that perseverance and continuity matter for the ultimate success of any campaign for the good of all. They plan to hold such initiatives at the PFFROSA Summit twice a year with the next one slated to be organized after six months at friendly Sri Lanka.

Programme culminated today with an interactive session at Gandhi Darshan on ‘Revisiting Mahatma Gandhi’s ideas of social change and prayers by all participating delegates for the solidarity of South Asia at Rajghat-the national memorial (Samadhi) of Mahatma Gandhi.

CSB Bank Limited Financial Results for the Quarter Year ended March 31, 2024

The Board of Directors of CSB Bank took on record the audited financial results for the 4^thquarter (Q4 FY 2024) and year ended 31st March 2024, in their meeting dated 26.04.2024.

Highlights

23. Profit After-tax: Bank recorded a Net profit of Rs 567 Crs for the year ended 31^st March 2024as against a net profit of Rs 547 Crs in FY 23. Net profit improved by 4% on a Y-o-Y basis. Bank continued with its policy of maintaining accelerated provisioning during this quarter as well with few more stringent norms. RoA of the Bank is at 1.79% for FY 24.
24. Strong Operating Performance: Operating profit of bank for FY 24 was Rs 780 Crs registering YoY growth of 10% as against Rs 707 Crs during FY 23. Q4 FY 24 operating profit grew YoY by 13% and stood at Rs 228 Crs as against Rs 202 Crs in Q4 FY 23.
25. Net Interest Income (NII): Bank recorded a stable NII growth of 11% both on a YoY and quarterly basis. NII forFY 2024& Q4 FY 24 stood at Rs 1476 Crs (Rs 1334 Crs for FY 2023)and Rs 386 Crs (Rs 349 Crs for Q4 FY 23) respectively.
26. Non-Interest Income for FY 2024 saw an impressive growth of 85% over FY 2023 mainly due to increased Fee Income, Forex income, Treasury Profits etc. On a quarterly basis ie, Q4 FY 24 vs Q4 FY 23, non- interest income has registered a growth of 56%
27. Cost Income Ratio for Q4 FY 24 stood at 60.86% as against 57.45% for Q4 FY 23 and the corresponding ratio forFY 2024 was at 62.15% as against 57.12% for FY 23. The increase in CIR is mainly due to the massive investment made by the bank in building the new systems, processes, distribution, IT upgradations etc., to scale up its activities eventually as a part of SBS 2030.

1. Healthy Asset Quality & Provisioning

Gross NPA and Net NPA ratios are at 1.47% and 0.51% respectively as at 31.03.2024

24. Robust Capital Structure – Capital Adequacy Ratio is at a healthy level of 24.47%, and is well above the regulatory requirement.
25. Comfortable Liquidity Position – Liquidity Coverage Ratio is comfortable at 117% (average basis)
26. Total Deposits grew by 21 % YoY. CASA book is at Rs 8085 Crs with a share of 27.20%
27. Advances (Net) grew by 18% YoY to Rs 24336 Crs as on 31.03.2024with a CD ratio of 82%

Performance Highlights:

CEO Speak:

Speaking about the performance Mr. Pralay Mondal, Managing Director & CEO said, “This is the second year of our SBS 2030 vision. In a journey like this what is more important is relentlessly pursuing the vision set in enjoying the ups and surfing through the challenges as a team. Despite the challenges posed by the economic conditions, regulatory changes, liquidity constraints, increased competition etc., we got our priorities right and could post reasonably good numbers. 

We could register a net profit of Rs 567 Crs; backed by a 20% growth in Business; 18% net loan book growth and 21% deposit growth. We continued to grow faster than the average industry growth trends in both deposits and advances. Our operating profit recorded a growth of 11% supported by growth in NII and other income.  Key indicators like NIM, CRAR, RoA, NPA ratios etc. continue to be strong. We continued our efforts in building the distribution by opening another 76 branches. 

The most critical milestone that we look forward to in FY 25 is the roll out of phase I of CBS migration and the right execution will act as a catalyst in our progressive journey.  We will be strengthening the SME & Corporate segments and strive for a better market share without losing our focus on retail including gold. Business mix will tilt towards the anticipated SME & WSBsegment and for the betterment of the Bank.

Mahindra First Choice-backed car & bike launches a new Pre-Owned car store in Navi Mumbai

Navi Mumbai(S.N): The Mahindra First Choice-backed auto content and commerce portal car&bike recently launched a used car store; car&bike Select in partnership with Bhavna Automobiles in Navi Mumbai. Located in Vashi, Navi Mumbai, the store will offer customers a wide variety of certified pre-owned cars to choose from. Customers can avail of a guaranteed buyback, get India’s most comprehensive two-year used car warranty, and reserve the car online for a free home test drive.

car&bike Select – Navi Mumbai, will provide customers an all-inclusive superior car-buying experience combining the best of the digital as well as the brick-and-mortar formats. Pre-owned cars of all the popular OEMs like Hyundai, Maruti, Honda, Kia, Mahindra, Toyota, and others will retail at the store.

“The newly opened store promises a superior pre-owned car buying experience throughout the car buying journey. Our online portal, meticulously inspected vehicles, expert guidance, 24/7 support, and welcoming showrooms, offer the consumer much-needed support in this journey. With the growing demand for personal vehicles, there is a growing need for a partner like us who can guide the consumers buy their dream car with confidence.” said Ashutosh Pandey, MD & CEO, of Mahindra First Choice Wheels Ltd.

“We are happy to be associated with car&bike by Mahindra First Choice and launch our used car store in Vashi. We look forward to serving our customers both through our superlative customer experience and a stringent inspection process that ensures only the best cars are sold from our store” said Rajesh Shah, MD – Bhavna Automobiles, Dealer Principal – car&bike Select, Vashi, Navi Mumbai

The all-new facilities offered at the car and bike store include a free home-test drive for customers, a seven-day easy return option, guaranteed buy-back anytime during the tenure of ownership, and free RC transfer. Navi Mumbai residents should head to this new store to buy their own certified pre-owned vehicle.

Embracing a Safety Mindset: Extending Beyond Workplace

Attributed to Remya Thomas, Head – Human Resources and Admin, Embassy Services Pvt. Ltd.

As we commemorate World Day for Safety and Health at work, let’s keep in mind that safety isn’t just about following regulations; it’s about embracing a mindset that reaches beyond our workplaces. We must make safety a top priority in all facets of our lives. Safeguarding ourselves and those we care about is crucial, whether it’s adhering to traffic laws, wearing protective gear like helmets, or staying alert in all our endeavors. Every little step we take adds up to create a safer world for everyone.

At Embassy Services Pvt. Ltd., as stewards of property management entrusted with the safety and well-being of our clients and occupants, safety leadership is not just a responsibility; it’s a cornerstone of our operations. Our steadfast dedication to safety not only enhances the caliber of our services but also strengthens the sustainability and resilience of the properties we manage.

Moreover, mental well-being holds equal importance. Given that many of us spend a significant portion of our time at work, creating a supportive environment is crucial. Encouraging breaks, facilitating constructive dialogues, and nurturing an open culture are key elements in fostering mental wellness within the workplace. Let’s emphasize both physical and mental health, thereby ensuring a workplace that is safe and conducive to well-being for everyone.

Groundwater Resource Assessment Workshop Concludes Successfully at IIT Roorkee

Roorkee, India -29th April 2024 The two-day workshop on ‘Groundwater Resource Assessment using Geophysical Tools and Techniques’ organized by the Department of Hydrology, IIT Roorkee, in collaboration with Guideline Geo and Pan-India Consultant Pvt. Ltd., concluded on 26th April 2024. The workshop witnessed an overwhelming response with over 300 applications, out of which 129 participants were shortlisted. The event aimed to provide hands-on experience and theoretical insights into state-of-the-art geophysical investigation techniques crucial for the assessment of groundwater resources.

Prof. Brijesh Kumar Yadav, Chairman of the workshop, emphasized the critical role of such workshops in managing the depleting groundwater resources. He mentioned: “This workshop has provided a platform for exchanging knowledge, fostering collaboration, and promoting sustainable groundwater management practices. The overwhelming response and active participation of experts and professionals reflect the importance and relevance of the topic.”

The workshop brought together Indian and foreign professionals, researchers, and academicians from prestigious organizations, universities, and colleges to share knowledge and expertise. The workshop commenced with an inaugural session followed by lectures by eminent resource persons in the field, including Ms. Morgan Sander from ABEM – USA, Prof. Elango Lakshmanan from IIT Madras, and Sri. Sushil Gupta, former CGWB Chairperson, Mr. Vivek Bansal (Vice president PAN India Consultants Pvt Ltd), Mr Per Westholm-USA (Director Guideline Geo), Dr AmlanJyoti Kar, Sri S K Chauhan from THDC Rishikesh. Mr. Naresh Agarwal (General Manager Pan-India), Sri Naman Agarwal (Manager, Pan-India), Sri Vijay Upreti (Regional Manager-Asia South Pan-India), Sri Piyush Dwivedi (Country Manager of In-Situ corporation)) also interacted with the workshop participants. The sessions covered a range of topics from Electrical Resistivity Tomography (ERT) and Time Domain Electromagnetic (TEM) surveys to groundwater governance, coastal groundwater assessment, and more.

Field studies were conducted at LBS Ground, where participants had the opportunity to acquire raw data using ERT/TEM systems, guided by experts from IIT Roorkee and Ms. Morgan Sander from ABEM – USA. The data acquired will be processed and analyzed to visualize hydrogeological strata, aiding in informed decision-making related to groundwater resource management.

Day two of the workshop delved into advanced topics like machine learning-aided digital rocks physics models, saline freshwater interface delineation, and technology advancements in groundwater monitoring and management. The sessions were led by experts such as Prof. Mayur Pal from Kaunas University of Technology, Dr. Ranjan Sinha from Cairn Oil & Gas, and Shri Prasant Kumar Rai from CGWB, among others.

Talking about the workshop Prof. K.K. Pant, Director, IIT Roorkee said: “The success of this workshop reaffirms IIT Roorkee’s commitment to fostering interdisciplinary collaborations and equipping professionals with the skills and knowledge required to address pressing environmental challenges.”

The workshop also highlighted the collaboration between academia and industry, underscoring the importance of interdisciplinary approaches in addressing complex environmental challenges. This collaboration was exemplified by the participation of professionals from Pan-India Consultant Pvt. Ltd., who shared insights on “Make in India” efforts and the role of technology in groundwater management.

Transforming broken tiles into trendsetting style Somani on the occasion of World Design Day by K.R. Partnership with Mangalam University

Gurugram, 29th April 2024 SOMANY Ceramics Ltd., a leading name in the ceramic industry, collaborated with K R Mangalam University on World Design Day, April 27th, 2024 on a project titled “Transforming Broken Tiles into Trendsetting Style,” this innovative initiative is aimed at promoting recycling of waste tiles into pieces of art and captivating murals, fostering a culture of sustainability while addressing waste reduction. Over 20 talented architecture students showcased their art and technical expertise in repurposing discarded tiles into breathtaking works of art, serving as a testament to their commitment to sustainability and innovation.

Anshuman Chakravarty, Head of Marketing at Somany Ceramics, expressed his enthusiasm for the collaboration, “We are happy that future architects of India are having a passion for recycling and sustainability. We in Somany Ceramics have always been a pioneer in promoting sustainability in our products, infact our entire production of tile adhesive is done through waste tiles. We as citizens also need to sensitize our communities on reducing construction waste and debris and look for recycling and reuse. We are thankful to the K. R. Mangalam University management and students for partnering with us for this initiative and promoting the thought of artistic reuse of waste tile and supporting environment sustainability”

We are collaborating with Somany Ceramics Ltd. on an art installation project to celebrate World Design Day. This collaboration provided students with a unique opportunity to apply their design skills in a real-world context. Through these tile art projects, students gained hands-on experience in sustainable design practices while making a positive impact on the environment said Dr. Tanaya Verma, Dean of the School of Architecture and Design at K.R. Mangalam University.

The SOMANY Ceramics and K R Mangalam University collaboration was a resounding ode to the power of partnerships in driving positive change. By utilizing the creativity and innovation of students, the initiative aimed to raise awareness about the importance of recycling and inspire future generations to become responsible stewards of the environment.