Archive: May 24, 2023

Amara Raja Batteries reports 45% jump in profit before tax over previous year in Q4 of FY23

Hyderabad/Tirupati/ Chennai, May 2023: Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major (BSE: 500008 & NSE Code: AMARAJABAT), today, reported a profit before tax of Rs. 947.57 cr for the financial year 2022-23. The Revenue for FY23 stood at Rs.10,385.91 cr as compared to Rs.8,695.82 cr during FY22. The Earnings per Share (EPS) for FY23 was at Rs.40.65.

The Company reported for the Q4 of FY23 revenue of Rs.2,429.21 cr and profit before tax (PBT) of Rs.191.52 cr. For the quarter and year ended March 31, 2023.

The Board of Directors recommended a final dividend of Rs.3.20 per equity share (representing 320%) on the face value of Rs.1/- each for the financial year 2022-23.

Amara Raja Batteries Ltd recorded impressive revenue growth in the last FY, on the back of strong volume growth in both automotive and industrial applications across all customer segments.

•  Increase in market share for both OEM and Aftermarket segments in automotive batteries.
•  Strong growth in the Telecom and Data Center segment on the basis of new digital platforms for enhanced customer support.
• The Lithium-Ion battery packs and chargers business saw 3X growth in the fiscal.

Mr. Jayadev Galla, Chairman & Managing Director, Amara Raja Batteries Limited, said, “This is a testament to our customer’s trust in the quality and reliability of our products. As we embark on the next phase of our Energy & Mobility strategy, our continued commitment to R&D that delivers superior products in lead-acid as well as lithium will be crucial.”

Mr. Harshavardhana Gourineni, Executive Director – Automotive & Industrial Batteries, mentioned, “We observed robust and sustained growth in both industrial and automotive applications. We’ve always been the market leader in 2W and now we are at the top even in 4W segment. We are currently in the process of launching a new brand of batteries in the domestic market and expanding our international operations as well.”

Mr. Vikramadithya Gourineni, Executive Director – New Energy Business, stated, “With the commencement of work on the ambitious Amara Raja Giga Corridor project we are making rapid progress towards our goal of indigenous manufacture of Li-ion cells. Meanwhile, our battery packs and chargers continue to steadily prove themselves with a wide array of customers.”

Kulfilicious- UAE’s biggest Kulfi brand is all set to launch in Namma Bengaluru

Bengaluru:  Kulfilicious, the United Arab Emirates’ most popular and beloved Kulfi brand, is all set to bring its authentic Kulfi experience to India, Bengaluru.  With a passion for creating traditional Kulfi and Kulfi-based products, Kulfilicious has become a household name in the United Arab Emirates.

Since opening its first outlet in Al Nadha in 2014, Kulfilicious has been thriving year after year, boasting four flagship outlets and a total of 14 operational outlets, thanks to its unique blend of traditional Kulfi flavors that come in over 40 flavors. The brand’s success can be attributed to its commitment to quality, innovation, and customer satisfaction.

They are also the sole Corporate Suppliers for Dubai World Trade Centre, Sanjeev Kapoor Restaurants, Dubai Parks and Resorts, and most 5-star properties in the UAE at present.

Bengaluru, a city that unites people through flavors, is a melting point of numerous cultures. Kulfilicious now has their sights set on the city, where they plan to open their first outlet in Indiranagar, Bengaluru, India.

Speaking on the occasion, Nilish Carvalho, Co-Founder of Kulfilicious added, “We are thrilled to be expanding internationally and launching our wide range of premium products in Bengaluru. As a vibrant metro city with a diverse and multicultural population,  it is the ideal location for us as a brand to showcase our cherished offerings to a wider audience. Our mission is to provide an exquisite and high-quality kulfi experience that surpasses the expectations of Indian dessert lovers and also elevates Indian dessert on a higher pedestal. We are committed to expanding our presence throughout India and eventually delighting taste buds with our unique and delicious flavors in the years to come.”.

Kulfilicious takes pride in their use of premium quality ingredients. Their Kulfi is made with the finest natural ingredients and are authentic and old-fashioned. They do not contain any preservatives, artificial colors, or stabilizers.  The brand’s menu features a wide variety of Kulfi flavors, including classic favorites like Malai and Kesar Pista, and newer flavors that include Butterscotch, Avocado, Blueberry, etc. They also have Kulfi-based Cold Coffee, Shakes, and Faloodas. Additionally, they have innovative flavors to cater to international palettes, including Snickers, Oreo, Ferrero rocher, and KitKat.

With its unique blend of tradition and innovation, Kulfilicious is set to take Bengaluru by storm. Their aim is to become a staple sweet spot this summer for the city’s kulfi lovers.

Kulfilicious is excited to bring its delicious Kulfi to India, the home of Kulfi, and is confident of making a mark in the Indian market. With its commitment to quality and customer satisfaction, Kulfilicious is sure to win the hearts of its Indian customers.

Graduates Constituency MLC Satyajeet Tambe Congratulates UPSC Toppers, Lauds Women Power

May  2023 Nashik MLC Satyajeet Tambe lauded women students as they emerged in the first four rankers (All India) of the Union Public Service Commission (UPSC) examinations. Tambe said the result is a reassuring and hopeful picture of women’s empowerment and their progress in society.

“UPSC is widely considered the second-most difficult exam in the world. And students who clear them end up running the country’s administration directly through services,” Tambe said, adding “Congratulations to Ishita Kishore, Garima Lohia, Uma Hariti N, and Smriti Mishra for securing the first four places. This is women’s true power. I am sure women will use their intelligence and administrative prowess to constructively empower women further.”

Tambe added that while sadly women are still deprived of basic amenities and often looked down on as neglected classes, securing the first four spots of the examinations is comforting news for the whole of India and its womenfolk.

Tambe also congratulated Kashmira Sankhe, who secured the first rank in Maharashtra and AIR 25, and other Maharashtra toppers. Recounting his tenure as the Maharashtra Youth Congress President, Tambe said, “I had almost 700 office bearers in Maharashtra under my leadership. Out of them, only five were women. There was a huge disparity and it was depressing. I am glad that I was able to take the number of women up to 33%. The most significant aspect of it is to create an environment that is safe and secure for them.”

Tambe also motivated the students that could not make it this year. He said, “They should start preparing again with a clean slate; without getting depressed or discouraged. That would only lead to a lack of focus which would not be helpful for their next go at the exams. Remain calm, composed, and concentrate on your goals and you shall find success for sure”

Moreover, Tambe also praised students from his hometown Sangamner who cleared the exams. Mangesh Khilare is just 23 years old and he went on to clear the UPSC. Khilare’s father owns a tea stall while his mother used to roll cigarettes. Other students included from Sangamner who also cleared the services exams were Rajshree Deshmukh and Swapnil Dongre.

Ozotec Announces the Launch of Bheem, an All-Electric Two-Wheeler for All Terrains

Bengaluru, 24th May 2023 – Ozotec, a pioneer in electric vehicle innovation, is proud to introduce their groundbreaking new vehicle, “Bheem.” Designed to excel in all terrains and weather conditions, Bheem is set to revolutionize the electric two-wheeler market. With a battery capacity of up to 10 kWh and an impressive range of up to 525 km per charge, Bheem boasts the longest range among all two-wheelers currently available.

Reservations for Bheem will be open starting from 25th May 2023 on Ozotec’s official website as well as their showrooms.

Ozotec’s Bheem has been meticulously engineered to address the limitations of current electric two-wheelers. Its powerful 10 kWh battery delivers an unmatched range of 525 km per charge, making it the perfect companion for long journeys. The trellis tubular frame structure ensures the vehicle’s durability and allows it to conquer any terrain with ease. Additionally, the IP67-rated, in-house manufactured 3 kW motor provides ample torque to handle various terrains. The IP67-rated battery pack, featuring an all-aluminum Pressure Die Cast (PDC) body, incorporates a smart Battery Management System (BMS) and advanced wire welding techniques, ensuring the highest level of safety in the market.

Bheem caters to individuals from all walks of life, whether you are a style-conscious youngster, a business professional in need of a reliable vehicle, or a farmer looking for a versatile mode of transportation. To meet diverse requirements, Ozotec offers a wide range of accessories to customize your Bheem.

Equipped with Bluetooth connectivity and a mobile app, Bheem is a smart vehicle that enhances your riding experience. The dashboard displays vital information such as GPS speed, trip meter, GPS navigation, document and media viewer, travel history, and other advanced features demanded by today’s market.

Bheem is available in six variants and comes with a warranty of up to 7 years, providing customers with peace of mind and confidence in their purchase.

The pricing of Bheem has been calculated in accordance with the latest Fame – 2 amendments, ensuring that customers receive the most competitive prices in the market.

Barathan, Founder & CEO of Ozotec said “We are based in Coimbatore, a city renowned for its quality motor and pump manufacturing as well as textiles. Ozotec was established with the vision of ‘innovation to serve society.’ With over 20 years of experience in designing industrial control panels and motors, we possess extensive knowledge in control systems and motor design and manufacturing. Leveraging this expertise, we launched our first electric scooter, Flio, two years ago in five districts of Tamil Nadu, delighting more than 6000 customers. During our presence in the market, we observed that many customer needs remained unaddressed by existing EV manufacturers. While most focused on technological features, we realized the importance of prioritizing the core components: battery, motor, and chassis. To fulfill this need, we take pride in being the only company in India to design and manufacture all core components in-house. Furthermore, Bheem offers unparalleled customization options to meet individual customer preferences.”

M.I.T.R.O.N Cafe opens its new outlet in Navi Mumbai

We rarely have time to meet with family or friends because of our busy schedules. However, there aren’t any actual reasons stopping us from having a quick meeting with them, so here’s Mitron and their new branch in Navi Mumbai.

M.I.T.R.O.N is here to bring to you a perfect spot of friendship, fun, and frolic with its wide array of mixology and culinary offerings.

The brand, which debuted in 2018, is quickly growing and has gained popularity. It recently opened its sixth location in Navi Mumbai.

Situated in a prime location, the new Mitron Cafe outlet will span an expansive area of 6000 square feet, providing ample space for guests to relax and enjoy their dining experience. Be it friendship or finance, handling bonds with care and trust remains at the core of their ideology and this inspired Mitron to take the liberty of creating a space that fosters bonding and friendship in all its glory. The cafe aims to create a welcoming atmosphere for food enthusiasts, offering a blend of indoor and outdoor seating arrangements.

One of the key highlights of Mitron Cafe is its commitment to serving an array of flavors from around the world. As a multicuisine restaurant, the menu features a diverse range of culinary delights- Truffle Fetuchini, Mitron Turnover, Mongolian Hot Pot Lamb, veg and non Veg platter, and many more, satisfying the cravings of guests with varied tastes and preferences. An interactive live station of your favourite Sushi, Dimsums and Pizzas, where you can choose your favourite add-on or how would you like it steamed, fried, or hand toasted to heighten the adventure of your gastronomic journey. From delectable Indian delicacies to savory Chinese dishes and more, Mitron Cafe promises an unforgettable gastronomic journey for its patrons.

According to Mr. Gaurav Shetty, Director of Peninsula Hospitality, “We sell happiness sealed in exclusive bottles, at discounted prices, all day, every day, throughout the year!” We are looking forward to building even more valued memories with our customers with the opening of our new branch in Navi Mumbai. We place a strong emphasis on the value of bonding and enjoying exciting things at Mitrons with their “mitrons.”

Mitron emphasizes liquor shop offers and a 15% Corporate discount for all patrons to take full advantage of their menu.

Mitron has DJ nights and Bollywood nights to keep their guests occupied with a great ambiance along with lip-smacking cocktails, and cuisine. They also have Sunday brunches to make the weekend more happening and fulfilling.

In order to have the best dining experience, exquisite food, and make wonderful memories with your friends and family, we are now inviting all Navi Mumbaikars to the newly opened branch of Mitron Cafe.

Mitron Cafe, all-day dining invites everyone to join in the celebration of its newest outlet and experience the magic of its multicuisine delicacies. Whether you’re a resident of Navi Mumbai or visiting the city, Mitron Cafe promises to be a destination that will satisfy your taste buds and create memorable dining moments.

Experience the cafe’s offerings firsthand and enjoy an evening filled with tantalizing tastes, warm hospitality, and a vibrant ambiance that reflects the spirit of Navi Mumbai.

IG Link:https://www.instagram.com/mitronnavimumbai/

Timing: All-day dining

Price: Starting from Rs.350/- for food

Capri Global Capital announces Q4 FY23 results

Mumbai, May 24, 2023: The Board of Directors of Capri Global Capital Ltd. (CGCL), a non-deposit-taking and systemically important NBFC (NBFC-ND-SI) on Monday, May 22^nd, 2023 announced the audited financial results for the quarter and year ended March 31, 2023. Key takeaways as follows:

A Momentous Year

The year FY23 was momentous in many ways for Capri Global. The car loan business scaled new heights, originating Rs60,133mn in new car loans, an increase of 3.5x YoY. The Company launched its Gold Loan business in Aug’22 and by Mar’23, scaled it to a very meaningful network of 562 branches and Rs11,259mn AUM. Share of retail loans in consolidated disbursals increased to 65% from 50% in FY22. And in Mar’23, the Company raised Rs14,400mn equity capital through a well-received Rights Issue. The standout highlight was CGCL’s consolidated net profit for FY23 of Rs2,047mn, which despite a strong organic growth push and the associated rise in opex, nearly matched the FY22 consolidated net profit of Rs2,050mn. The strong business performance and resilient earnings places CGCL firmly in the saddle to deliver mid-teen RoE over the medium term. 

Earnings – Profitability Bounces Back

The rising share of higher-yielding loan portfolio expanded spreads 36bps QoQ to 6.64% in Q4FY23. NII increased 31% YoY / 25% YoY in Q4FY23 / FY23 respectively. Share of non-interest income in net income increased to 36% / 33% in Q4FY23 / FY23 respectively compared to 23% in FY22. Non-interest income was boosted by car loan fees and co-lending income. Non-interest income was up 21% QoQ / 65% YoY in Q4FY23. For FY23, non-interest income increased 2.1x YoY to Rs2,977mn.

Opex in absolute terms increased sequentially. Branch additions as well as headcount increase contributed to the opex increase. However, the C/I ratio saw a soft sequential moderation to 68%. Adjusted for direct expenditure incurred on Gold Loan branch additions, the cost-income ratio in Q4FY23 / FY23 would have been ~48%.

The Q4FY23 Consolidated Profit after Tax Rs649mn was up 55.4% YoY and 73.4% QoQ. The Q4 FY23 Consolidated RoE was 11.7% while RoA was 2.6%. 

Balance Sheet – Consolidated AUM Crosses Rs100bn

Disbursals in Q4FY23 increased 87% YoY and 55% QoQ to Rs28,110mn. Disbursals in FY23 are up 70% YoY at Rs72,902mn. On a full-year basis, Gold Loans had a 26% share in disbursals while MSME and Housing contributed 26% and 17% respectively. CF and IL together had a share of 36%.

Consolidated AUM including co-lending AUM increased ~56% YoY and ~19% QoQ to touch Rs103,204mn. CGCL aims to maintain the lending momentum and grow its loan book between 35-40% YoY in FY24.

Asset Quality – Steady Improvement

Gross Stage 3 ratio softened to 1.59%, lower 81bps YoY and 73bps QoQ. The PCR on Stage-3 assets was 32%. Including aggregate ECL provisions, the PCR stood at 115%.

Strong Capital Adequacy

CGCL concluded the Rs14,400mn Rights Issue in Mar’23. The CAR improved from 24.2% in Q3FY23 to 39.9% in Q4FY23. The Company is well-capitalized from a 5-year perspective.

Founder & Managing Director Mr. Rajesh Sharma Commented: “Capri Global navigated well the business scenario during FY23. It was a period of turmoil in global financial space with high inflation, bank runs, bank collapse, and a tight policy environment in advanced economies. Despite the progressively tightening rate environment domestically, CGCL made the most of the growth opportunities in existing businesses while launching and scaling new businesses. Our faith and confidence in our execution capabilities is derived from this experience as well as our business model that is differentiated to serve a customer class not served by leading financial institutions. The equity infusion in Mar’23 has boosted CGCL’s capital adequacy significantly. In FY24, our endeavour shall be growth and profitability. The Company is well-positioned to deliver a 35-40% AUM growth in FY24.”

5 Mathematicians who conquered their fear of math and become trailblazers

Mathematics can be a daunting subject for many people, but these five mathematicians conquered their fear of math and went on to make significant contributions to the field.

Here are five of the best mathematicians who overcame their fear of math and shined across the globe.

1. Albert Einstein:

Albert Einstein is perhaps the most well-known scientist of the 20th century. He is famous for his theory of relativity and for his equation E=mc². However, Einstein did not have an easy time with math. In fact, he failed his entrance exam to the Swiss Federal Institute of Technology in Zurich twice before finally being admitted. Einstein is a perfect example of how perseverance can pay off even when you struggle with a subject.

2. Ada Lovelace:

Ada Lovelace is known as the first computer programmer. She was a mathematician who worked with Charles Babbage on his Analytical Engine, which was a mechanical computer. Lovelace was able to see the potential of the machine beyond just number crunching and wrote the first algorithm that could be processed by the machine. Lovelace is an inspiration to anyone who thinks that math is just about numbers and formulas.

3. Katherine Johnson:

Katherine Johnson was a mathematician who worked at NASA during the 1960s. She was responsible for calculating the trajectories of the first American manned space flights. Johnson had to overcome many obstacles as a black woman working in a field dominated by men. She is a reminder that anyone can succeed in math if they are willing to work hard and persevere.

4. Terence Tao:

Terence Tao is a mathematician who has made significant contributions to several areas of mathematics, including number theory and harmonic analysis. He is a recipient of the Fields Medal, which is considered the most prestigious award in mathematics. However, Tao struggled with math as a child and was not considered a prodigy like many of his peers. He has said that he had to work hard to develop his mathematical abilities and that anyone can do the same with enough effort.

5. Maryam Mirzakhani:

Maryam Mirzakhani was a mathematician who was awarded the Fields Medal in 2014. She was the first woman and the first Iranian to receive the medal. Mirzakhani was known for her work on the geometry of surfaces and for developing new techniques to study them. She was also a role model for women in mathematics and showed that anyone can succeed in math regardless of their background or gender.

In conclusion, these five mathematicians are just a few examples of people who overcame their fear of math and went on to make significant contributions to the field. Their stories show that anyone can succeed in math if they are willing to work hard and persevere.

Hygiene: An important factor in Hospitality Industry

Visitors want assurances that proper hygiene procedures are in place and that they’ll be safe while visiting. Rubystone Hospitality Resorts are in reasonable prices, distinctive lodging alternatives, and efficient services. Most importantly, you need a reliable, quick-thinking partner who can lighten the load on management.

What is personal hygiene in the hospitality industry?

Personal hygiene is the practice of keeping oneself clean and groomed to stop the transmission of illness or disease. This is crucial for the hospitality sector in particular because hotel personnel frequently come into contact with customers and run the risk of passing on illnesses through contact or the handling of food and beverages. To safeguard guests’ health and preserve the hotel’s good name, all staff members in the hospitality business are required to practice proper personal hygiene. Wearing the right protective gear, such as gloves and hairnets, as well as often washing your hands, especially before handling food or beverages, are part of this.

Hotels need to uphold strict standards of cleanliness and hygiene in the common areas and guest rooms in addition to personal hygiene. This entails doing routine surface cleaning and disinfection as well as making sure that all machinery, including HVAC systems, is properly maintained. Hotels can contribute to the prevention of the spread of disease and provide a comfortable and safe environment for visitors by upholding acceptable personal hygiene standards and keeping their facilities clean and disinfected.

What justifies the importance of personal hygiene in the hospitality sector?

For many reasons, maintaining personal hygiene is essential in the hospitality sector. It is crucial for stopping the spread of diseases and viruses, to start. When handling food and drinks or coming into touch with guests, hotel personnel, especially those in the food and beverage service, run the risk of contracting an illness. Hotel workers can aid in preventing the spread of illness to visitors by practicing good personal hygiene, such as often washing hands and wearing protective clothing. Second, keeping the hotel’s reputation requires good personal hygiene. A messy or untidy appearance can give the wrong impression and keep visitors away. Additionally, the health and safety of hotel staff members depend on proper personal hygiene. A tidy and well-maintained workplace can make it safer and more pleasurable for employees while also reducing the likelihood of illness spreading among them. Personal hygiene is generally considered to be a crucial component of the hospitality sector. To preserve the health and satisfaction of guests and to uphold a high level of cleanliness and hygiene throughout the hotel, hotels must make sure that all personnel adheres to excellent personal hygiene practices.

According to Sandeep Singh, founder of Rubystome Hospitality

“Hygiene is the foundation upon which the hospitality industry thrives. It is the silent ambassador that speaks volumes about our commitment to guest satisfaction. In this realm of impeccable service, attention to hygiene is not just a necessity; it is a crucial factor that shapes our reputation. Cleanliness and sanitation create an inviting and safe environment, instilling confidence in our guests and ensuring their well-being. From spotless rooms to pristine dining areas, every corner reflects our dedication to impeccable standards. Hygiene is not merely a task but a culture embedded within our hospitality DNA, elevating experiences and fostering lasting connections.”

Bajaj Finserv Health collaborates with Narayana Health to offer Comprehensive Heart Screening on easy EMI

Gurugram, 24th May 2023: Bajaj Finserv Health, a health-tech company from the Bajaj Finserv group, announced its partnership with Narayana Health, one of India’s leading healthcare providers, to offer affordable and comprehensive preventive health checkup packages with mission to avert the growing occurrence of cardiac cases in India.

Narayana Health’s deep expertise in cardiac care for over two decades will play a critical role in scaling this collaboration. It is a strategic effort towards providing a glimmer of hope in preventive care of the heart to the masses.

Interestingly it is estimated that more than 80% of premature heart attacks can be prevented and this partnership is a small step forward in addressing such health concerns. The initiative aims at bringing cost-effective preventive care of the heart to a wider audience, leveraging Narayana Health’s vast experience in the field and Bajaj Finserv Health’s vast network and reach.

Beneficiaries can opt for ‘Comprehensive Heart Screening’ package and repay with easy EMI. The booking of a heart health checkup can be made digitally by downloading and logging into the Bajaj Finserv Health App.

The App enables online bookings and offers the option of converting spends into EMIs, ahead of the visit to the Narayana Health chain of hospitals. These packages are customized as per gender-specific health needs. Benefits of this partnership can be availed across all Narayana Health Group of Hospitals in Delhi, Bangalore, Raipur, Kolkata, Gurugram, and Ahmedabad.

Devang Mody, CEO, of Bajaj Finserv Health said, “Heart disease can be prevented through timely action. Our affordable, preventive healthcare packages equip people to do their part by caring for the heart. The convenience of booking through an App and paying via EMIs puts such expensive tests within reach of a larger number of citizens.”

Dr. Emmanuel Rupert, Managing Director & Group CEO of Narayana Health, said, “Until two decades ago, cardiac cases were more common in people over the age of 50; however, it is now affecting young adults. With an increase in sedentary lifestyle and an increase in lifestyle disorders such as diabetes and hypertension, cases of cardiovascular disease are on the rise in India. In such a setting, making heart health packages accessible to a larger number of individuals is critical to reducing the country’s rising incidence of heart disease-related deaths.”

Beneficiaries can opt for the ‘Comprehensive Heart Screening’ package and repay with easy EMI. The booking of a heart health checkup can be made digitally by downloading and logging into the Bajaj Finserv Health App. The App enables online bookings and offers the option of converting spends into EMIs, ahead of the visit to Narayana Health chain of hospitals. These packages are customized as per gender-specific health needs. Benefits of this partnership can be availed across all Narayana Health Group of Hospitals in Delhi, Bangalore, Raipur, Kolkata, Gurugram, and Ahmedabad.