Archive: November 3, 2022

Liminal collaborates with Metamask Institutional to boost Institutional Crypto Adoption

New Delhi/Singapore, 3rd November 2022: Liminal, a digital wallet infrastructure platform, announced a strategic alliance with Metamask Institutional, a global Defi wallet and Web3 gateway for organizations, to drive institutional crypto adoption. As a part of the association, Liminal users can connect their Liminal wallets at the click of a button with Metamask Institutional and use it just like they would use the defactoEthereum wallet app, i.e. MetaMask with the added security of Multi-Sig and all benefits of Liminal wallets. Liminal institutional users can now access and tap into the liquidity of numerous DefidApps.

Liminal, the first choice for secure crypto custody solutions, is on a mission to create a secure destination for crypto-led investments by providing impeccable security to crypto holdings across institutional and retail investors. The formal tax regime for crypto assets introduced this year has encouraged a large number of institutions to explore digital assets to achieve their financial/business goals.

Commenting on the development Manan Vora, Senior Vice President- Strategy & Operations at Liminal, said, “We are thrilled to find a like-minded partner in Metamask Institutional. The symbiotic association between Liminal and Metamask Institutional will be a game changer for the booming crypto industry as it will provide an encrypted and highly secure environment to large crypto holdings.”

Commenting on the developments, Liz Mathew, Global Head of Growth and Partnerships for MetaMask Institutional, said, “Onboarding Liminal as a custodian under Metamask Institutional brings additional choice to Metamask Institutional customers and solidifies MMI’s position as the premier institutional wallet for Web3.”

Liminal users simply need to login to the dashboard, click on MetaMask Institutional, set up the browser extension, and link it with their Liminal Ethereum and EVM wallets, once done they can interact with DefidApps as they would normally with MetaMask extension; however, for all transactions approvals will be required from all users of Multi-Sig Wallets setup in Liminal. Liminal Wallet users will be required to request access to MetaMask Institutional, and once approved, they can access directly from Dashboard.

Attero to set up the world’s most advanced Li-ion battery recycling plant in Telangana

National, November 3 2022: Attero Recycling, India’s largest electronic waste recycling and the world’s largest Li-ion battery recycling company, today announced that it will invest ₹600 crores to set up a state-of-the-art integrated Lithium-ion battery recycling factory in Telangana. The facility will be spread over 50 acres and will increase Attero’s Li-Ion battery recycling capacity to 19,500 MT by the end of 2023 from its current capacity of 4,500 MT.

Attero has signed a Memorandum of Understanding (MoU) with Telangana Government to strengthen the li-ion battery recycling ecosystem in the country and establish a hub for Li-Ion battery recycling for its India operations. The new facility will provide direct employment to over 400 people and over 1,100 indirectly.

Shri KT Rama Rao, Hon’ble Minister for IT & Industries, Telangana, said, “Telangana has been a pioneer in fostering a climate that would encourage the use of zero-emission vehicles. We were one of the first states to introduce the ‘EV & ESS’ policy in 2020. The EV ecosystem is thriving in the state and we are glad that Attero will also be a significant part of the ecosystem. We are happy that the company is investing to establish a new facility in Telangana that will generate employment opportunities.”

Mr. Nitin Gupta, CEO and Co-Founder, Attero Recycling, stated, “We would like to thank the Government of Telangana for associating with us to set up the world’s most advanced li-ion battery recycling facility. This facility will be instrumental in paving the way for India’s independence in battery materials. Telangana is an ideal location as it is a hub for the EV industry and is creating a favourable environment for the adoption of zero-emission vehicles.”

“With EV production on the rise, lithium battery recycling is more important than ever. The improper disposal of Li-ion battery recycling is not only an environmental threat but also a wasted opportunity to extract rare materials. This new facility will increase our current capacity to recycle more Li-Ion batteries in an environmentally friendly manner. With our world-class technology, it will also maximise the recovery of battery materials like cobalt, lithium, nickel, graphite, manganese, and copper. Through such collaborative efforts, we see a good long-term potential of growth for India in an uninterrupted supply of rare battery-grade materials.”, he added.

Attero utilises proprietary and globally patented Avant-grade recycling technologies and has World’s Highest RER (Recycling Efficiency Rate) at 98%. It has been successfully recycling all kinds of end-of-life Li-Ion batteries (LFP, various NMC, LCO, LTO LMO etc), factory waste, and black mass and extracting pure battery grade Lithium Carbonate, Cobalt, Graphite, Nickel, Manganese among others. The extracted materials are sold in the market at LME or Fast Market prices ensuring a healthy circular supply chain. Currently, Attero is the only company in the world to be approved by UNFCCC for safely reducing carbon emissions from recycling e-waste and Li-Ion waste.

To accelerate its efforts in sustainability and li-ion battery recycling, Attero recently announced its international expansion plans including India. The company intends to recycle 300,000 tonnes of lithium-ion batteries within the next five years. It is projected that 35% of the capacity to recycle 300,000 li-ion batteries will be built in Europe, 35% in the United States, 20% in India, and 10% in Indonesia.

The global recycling industry is projected to reach $22.8 billion by 2030, up from $4.6 billion currently, expanding at a CAGR of 19.6 per cent. With the planned capacity expansion, Attero would be able to meet 15% of the global demand for Li-Ion, 15% of the global demand for cobalt, and 15% of the global demand for graphite and emerge as one of the most formidable players in the industry.

Wakefit.co enables employees to take time off for wellness, No Questions Asked!

Mumbai, 03 November 2022: Wakefit. co, one of India’s leading D2C home and sleep solutions brands, rolled out a ‘No Questions Asked’ Wellness Leave Policy for its employees.
The Wellness Leave Policy extends a no-questions-asked leave to all employees once a month. These wellness leaves can be availed by the workforce to support their physical, mental, or emotional well-being by taking time off to unwind and rejuvenate themselves. Wakefit. co-employees can also utilize their wellness leaves to opt for leisurely activities. Through this initiative, Wakefit. co aims to empower its workforce by instilling a wellness-positive practice that contributes to their holistic growth and development while enabling healthy conversations.

A survey conducted in 2018 by British Airways said that close to 30% of the Indian workforce are unable to summon the courage to ask for leave, as a large share believe that holidays are frowned upon or discouraged by their workplace. With employee wellness being a key indicator of an organization’s long-term success, Wakefit. co is cognizant of the importance of enabling a healthy balance at work for its workforce to thrive. The Employee Wellness Leave Policy will be a cornerstone in helping their employees build on their overall well-being while prioritizing their intangible needs. This policy falls in line with the company’s endeavor to integrate occupational wellness at the core of its organizational fabric.

Speaking about the policy, UmanathNayak, Head of HR, Wakefit. co said, “At Wakefit. co, our goal has been to create a culture that values creativity and collaboration while empowering the holistic well-being of our employees. Our Employee Wellness Leave Policy has been designed with the need to uphold this ethos and continue building a space that gives our employees the freedom to be, the ability to grow, and reaches their fullest potential. With this policy, we hope to encourage our employees to unwind, focus on their health, and spend time with their loved ones by taking their wellness leave with no questions asked.”

Wakefit. co has consistently believed in being disruptive in its approach and facilitating meaningful conversations around the overall well-being of its employees. With the onset of the pandemic, the company overhauled its existing policies to mold them into the digital-first world. The company unveiled its landmark ‘Right to Nap’ policy in May 2022 to enable employees to take a power nap between 2 and 2:30 pm. Additionally, Wakefit. co also recently launched a flexible work policy for new parents. These initiatives are impactful steps towards enabling a healthy work-life balance among its workforce.

Gate.io Attends Singapore FinTech Festival 2022

Gate.io attends the 7th Singapore FinTech Festival (SFF) from November 2nd to 4th at the Singapore Expo convention centre. With over 300 booths and 65 sponsors, this 3-day event will attract more than 60,000 attendees and 300 industry guests, making it one of the most distinguished fintech summits in the world.

Gate.io to promote wide adoption of digital assets

During SFF, the Gate.io team will connect with on-site partners and attendees to engage in in-depth interactions. By attending the Singapore Fintech Festival, Gate.io hopes to deepen its understanding of the local crypto industry and market and promote the wide adoption of digital assets worldwide.

Gate.io’s representative said “Singapore is an early explorer and leader in the crypto industry. We are glad to participate in the FinTech Festival to engage with the local crypto community and discuss new cooperation ideas for shaping the digital economy with global financial industry leaders and practitioners.”

Singapore is an early adopter of crypto regulations and blockchain technology and is recognized as one of the most important global crypto markets due to its crypto policy and ecosystem. This has resulted in an international and focused trend in strategic investment emerging.

The world’s most impactful fintech event

Singapore FinTech Festival 2022 is hosted in collaboration with trusted partners around the world. Key attendees include government leaders, regulators, financial services leaders, entrepreneurs, investors and technology leaders, who will assess and discuss revolution-driven factors.

The 7th annual Singapore FinTech Festival (SFF) will be held at the Singapore Expo from November 2-4, 2022. SFF will bring together the global fintech community to connect and collaborate on financial services, public policy and technology development issues. As the world’s largest fintech festival, last year’s event brought together more than 60,000 participants from 160 countries. SFF is organized by the Monetary Authority of Singapore, Elevandi and Constellar in partnership with the Association of Banks in Singapore.

Sayaji Pune to elevate your dining experience by hosting a Vegan Food Festival!

Pune, 03 November 2022: Plant-based food or veganism has slowly but surely caught the attention of many. While many have adapted to the vegan lifestyle either due to health/food restrictions or simply out of choice; plant-based food has surplus benefits and a lot to offer. 1st November is celebrated as International Vegan Day and Sayaji Pune is hosting a week-long Vegan Food festival at their poolside restaurant, Turque to allow guests to truly experience the flavors of plant-based food.

From an ethical point of view, veganism stands to be a great alternative. Those who are not necessarily vegan, but wish to decrease meat consumption, or love animals and wish to do better but aren’t aware of how opting for plant-based food is a great way to start. Through this food festival, Sayaji Pune looks forward to elevating its guests’ dining experience. While there are misconceptions that when opting for vegan food the options are limited or the food won’t taste that great, the culinary experts at Sayaji Pune are here to change your opinion.

The Vegan Food festival will consist of appetizing flavors and food combinations. From Tomato and Leek soup to Tuscan Panzanella Salad, to Green moong ki Shammi Indian, vegetable dim sum, and Vegetable fried wonton in appetizers, the robust preparations will leave you craving for the mains. In the mains, you can opt for Mongolian-style pot rice, Suba yaki noodle Asian, Bhindi Hari Mirchi masala, or Lehsun dal tadka. A little something for everyone.

Whether you’re a fan of plant-based food or wish to try this particular cuisine, look no further than Sayaji Pune. Head to their picturesque poolside restaurant Turque to experience the bountiful offerings the food fest offers!

Novotel Pune Inaugurates its first EV charging station as a part of its Planet21 Initiative

Novotel Pune has recently installed an Electric Vehicle charging station in its premises. Keeping up with the current climate change and in an effort be environmentally sustainable, the hotel has taken up this initiative.

The EV charging station is compatible with all on-sale four-wheelers in India and was inaugurated by Mr. Girish Bidani, Head of Center Operations, HSBC global technology. Excited about this new development, the hotel’s General Manager Mr. Sukhbir Singh said, “We at Novotel Pune feel extremely proud to be taking another step towards a more sustainable future. There has been a sudden increase in popularity of EVs in recent months and this revolution is here to stay. Therefore, this was the right time for us to upgrade our infrastructure to cater to the needs of our guests.”

At Accor, sustainability is of utmost importance and with Planet 21, the brand aims to provide a positive hospitality experience to its guests. By offering EV charging facilities to our guests, we would like to promote environment-friendly services at our hotel and work towards reducing carbon dioxide emissions.

In the past the hotel has taken up several green initiatives. Novotel Pune has reached Platinum level in sustainable development program Planet 21 and acts for Positive Hospitality. The hotel has reduced 10% of CO2 emissions between 2019 to 2022 by taking measures such as using renewable energy, recycling waste, replacing single use plastic etc. 89 percent of Novotel Pune’s energy use is from renewable energy and hotel recycles 85% percent of the waste generated and ensured that all waste water is processed

Siemens and Eplan enter strategic partnership

• Cooperation in the industry and infrastructure market segments
• Optimized solution for switchgear manufacturers and electrical planners
• Siemens to join the Eplan Partner Network as a strategic partner

Siemens Smart Infrastructure and Eplan have signed a strategic partnership to strengthen collaboration in
the area of software solutions for the industry and infrastructure market segments. As part of this agreement,
Siemens’ Electrical Products business unit will join the Eplan Partner Network as a strategic partner. The
objective is to coordinate the products of both companies in a more targeted manner in order to offer
optimized solutions for switchgear manufacturers and electrical planners. Sebastian Seitz, CEO of Eplan,
and Andreas Matthé, CEO of Electrical Products at Siemens Smart Infrastructure, signed the agreement to
this effect on September 26, 2022.

“The overall goal of our collaboration is to create a plug-and-play structure for electrical planners. We want to
open our tools bidirectionally for both sides and thus simplify and accelerate workflows,” said Andreas
Matthé.

Sebastian Seitz of Eplan has also emphasized the benefits for joint customers: “In switchgear construction,
we can use Eplan Pro Panel to optimize processes and automate them to a greater extent. In addition, we
will more specifically address the growing area of power distribution and work with Siemens to create end-toend solutions for integrative, more efficient workflows.”

The industry segment comprises offerings and products for control panel building, while the infrastructure
segment includes switchgear construction for power distribution. In the industry market segment, Siemens
and Eplan will intensify the excellent cooperation that has existed for many years, for example, to provide
Eplan data across all configured Siemens products. For the infrastructure market, Eplan and Siemens have
decided to jointly optimize and automate customer processes, for instance in the Sivacon and Alpha
environment (power distribution systems) by integrating Simaris (planning tools) and the Eplan platform.
Both parties will contribute their expertise to the benefit of their joint customers to enable more efficient
workflows in switchgear construction and power distribution.

Eplan offers engineering software and services in the fields of electrical engineering, automation, and
mechatronics. The company develops one of the world’s leading software solutions for machine, switchgear,
and control panel builders. In addition, it helps customers simplify challenging engineering processes.

Siemens’ Electrical Products offers products for a safe and efficient electrical infrastructure at the low-voltage
level in buildings and industrial environments, including safety and control products, measuring and
monitoring devices, switches, and sockets. Furthermore, the business unit’s portfolio includes
communication-enabled software tools that can be used to connect power distribution products to building
and industrial automation, as well as to open cloud-based IoT systems.

SuperBottoms enters offline retail; Targets Annual Revenue of 250 cr by FY26

National, 3rd November 2022: SuperBottoms, India’s leading D2C brand for eco-friendly baby-care products that recently raised USD 3 million, today announces their foray into offline retail business. Founded in 2016 by Pallavi Utagi, SuperBottoms has grown 2X YOY in the last 4 years.

The brand has opened its first kiosk in Mumbai at Rcity Mall Ghatkopar with the objective of building brand distribution as well as visibility. The kiosks display and sell products across its major categories – UNO cloth diapers, Dry Feel Langot, and Potty Training Pants. Along with this, SuperBottoms plans to open 6 kiosks targeting west and north zones by the end of this financial year, while parallelly building a team for General Trade outlets for their other products such as Langots, Underwear, and reusable menstrual hygiene products

Commenting on the expansion into offline retail, Pallavi Utagi, Founder & CEO, SuperBottoms said, “SuperBottoms is on a mission to build cloth diapers in India, which will need parents to learn a completely new cloth diapering concept. And, when it comes to their children, parents have a lot of concerns and questions. Having an offline presence allows parents to feel and touch the product and experience it for themselves before purchasing it. On the business front, India is still a highly offline-oriented market, and if we want to truly develop the category and get it to all the parents in India, going offline is a major lever. Our first kiosk that began in October 2022 has seen phenomenal love and it gives us a lot of motivation to build this network stronger and faster.”

Speaking about the offline expansion, Vinod Khedekar, Chief Operating Officer, SuperBottoms said, “We’re thrilled to foray into offline retail with the launch of our first kiosk, creating a holistic phygital experience for SuperBottoms consumers. For a purpose-led brand like SuperBottoms, venturing to the offline channel will boost awareness and help attain scale via reaching a larger audience on-ground beyond digital. With this we see SuperBottoms reach its next growth phase. With well-trained staff who will assist customers in facilitating convenient shopping, offline stores will ensure that our offerings align with our consumers’ needs and wants”.

Revolutionizing the personal and baby care market with innovative products has been possible by keeping research close but customers closer. Being a consumer-first brand, In 2016 SuperBottoms came up with a community- The Parent Tribe, as a platform to resolve cloth diapering queries for its customers. Now over 75,000 parents strong, Tribe has grown and transformed into an authentic platform of organic reviews, honest feedback, and an interactive community. It has not only been a fundamental source of research and development but their positive word of mouth spreads awareness about cloth diapering thus contributing towards the sales as well. Over and above the products, to create value for our ever-growing community, Tribe is studded with a panel of experts who assist parents with all queries ranging from cloth diapering to breastfeeding to nutrition. SuperBottoms is aiming to grow the community to 1 Lakh parents by the end of this year.

SIS Ltd reports Highest ever quarterly revenue of Rs. 2,768 Crs Q2FY23; 13.9% YoY growth

New Delhi, November 02, 2022, SIS Ltd. (NSE: SIS, BSE: 540673), announced its Unaudited Financial Results for the quarter that ended September 30th, 2022.

Key Consolidated Financials at a Glance:

 Segmental Revenues are as follows:

• ‒ Security Solutions India: Rs. 1,150 Crs in Q2FY23 vs Rs 945 Crs in Q2FY22 and Rs. 1,058 Crs in Q1FY23
  ‒ Security Solutions International: Rs. 1,161 Crs in Q2FY23 vs Rs 1,156 Crs in Q2FY22 and Rs. 1,205 Crs in Q1FY23
  ‒ Facilities Management: Rs. 471 Crs in Q2FY23 vs Rs 336 Crs in Q2FY22 and Rs. 428 Crs in Q1FY23
• Return Ratios: RONW (based on proforma trailing 12 months PAT) is 18.0%, our strong return ratios continue.
• Cash Conversion – OCF/EBITDA on a consolidated basis was -27.8% for the quarter which is a direct result of the business growth and overall increase in DSO for the quarter. 8.8% Q-o-Q and 10.1% Q-o-Q revenue growth in Security Solution India and Facility management business respectively are the main drivers for decrease in OCF/EBITDA.
• Business Updates• India Security Solutions: The India security business continued the growth momentum with 8.8% QoQ and 21.7% YoY record organic growth in revenues and reached Rs. 1,150 Crs which is the highest in our history and clearly indicates that growth is back in India.
  Major wins during the quarter came from Oil & Gas, Healthcare and Education segments. EBITDA margin for Q2 FY23 improved to 4.4% from 4.0% in Q1 FY23.
• International Security Solutions: The International business recorded a revenue of Rs. 1,161 Crs which is a -3.6% QoQ decline and a 0.4% YoY increase over the same quarter in the previous year. After adjusting for the impact of temporary high margin covid related contracts reducing to a miniscule level in Q2 and special events revenue in Q1, the business grew 3.6% in constant currency on a normalized basis. As expected and indicated earlier, the EBITDA margins in Security Solutions – International business witnessed a decline in Q2 FY23, to 3.3%. This decline is a temporary phenomenon which is caused by a landmark wage increase in Australia. The closure of all COVID-related temporary high margin contracts also contributed to the decline in the EBITDA margins during the quarter. The gap caused by these timing differences is expected to be eliminated by Q3 FY23 and the full quarter effect will be visible in Q4 FY23.
• Facility Management Solutions: The Facility Management segment continued its strong recovery with revenue growth of 10.1% over Q1 FY23 and 40.1% over Q2 FY22, reaching revenues of Rs 471 Crs for the quarter. Major wins during the quarter came from Healthcare, Education, Commercial spaces and retail segments. The EBITDA margin was 4.4% in Q2 FY23, which is stable compared to 4.5% in Q1 FY23.
• Cash Logistics Solutions: The Cash Logistics segment continues its strong revenue growth with a revenue growth of 4.2% over previous quarter and 41.5% over Q2 FY22 driven by new wins in Door-step banking and Cash Processing Outsourcing business. The EBITDA margins also continue to improve and are a testament to the high margin nature of the cash logistics segment.

Commenting on the performance, Mr. Rituraj Kishore Sinha, Group Managing Director said, on the completion of 5 years since being listed, which included two difficult years impacted by the COVID-19 pandemic, we look back with a quiet sense of satisfaction of having built a highly stable and predictable business, resilient to economic variations, derisked from a geography and industry perspective, which consistently delivered revenue and business growth every year and continued distributions to shareholders in the form of dividends and buybacks every year.”