Archive: May 30, 2023

FMCG Giant Bonn Group engages Channel Partners in Jalandhar; plans to scale up the biscuit business in the Punjab market

Bonn Group of Industries, one of India’s leading manufacturers of FMCG Food products, is focused on establishing connections and building bonds of trust and successful partnerships with its massive channel partners’ network. The brand organized an exclusive channel partners’ meet in Jalandhar, PB. Coming together to acknowledge performance and construct plans, the event was marked by insightful discussions and guidance by leaders. Besides being appreciated for achieving sales objectives through the hygienic distribution of products, the channel partners were also celebrated for being an integral part of the company’s progress journey.

The channel partners were also acknowledged for their efforts in helping the company to meet its Sales objectives by ensuring the hygienic distribution of Bonn Products across the state. The top deck from Bonn Group shared its vision to target double-digit growth in Punjab. The objective of the meeting was to make the channel partner feel that they are very much a part of the Bonn Group of Industries and that their growth is an integral part of the company’s progress.

“With a well-established network in India, we endeavor to penetrate urban and semi-urban areas of Punjab through our highly committed channel partners & Sales Team; Distribution is the core of any FMCG business; therefore, we always make a conscious effort to align channel partners with Company’s way forward’’, said Mr. Dawinder Pal, Head of Marketing, BONN Group of Industries.

“Jalandhar channel partners’ meeting has helped us in identifying challenges & market gaps Punjab market. Despite our good performance amid COVID, we want to take the game ahead by making the best of the coming quarter. The channel partners have been about our new products with which they can help us achieve pre-COVID sales numbers,” said Mr. Navdeep Chadha, VP of Sales, Biscuit.

Guest of Honor

1.  Navdeep Chadha (VP Sales)
2.  Dawinder Pal (Head of Marketing Bonn Group)
3.  Rakesh Sharma (AGM Sales)
4.  Atul Vashisht (RSM Sales)
5.  Sukhpreet S. Naz (Deputy Marketing Manager)

Ashok Mohanani wins Gold and Bronze in two different categories at National Pickleball Tournament

Mumbai, May 2023: The two-day National Pickleball tournament concluded with a resounding success at Pakyong on Sunday. The event saw over 500 games being played with 14 national teams and one international team vying for the trophy. Participants aged between 8 years to over 70 years gave their best shot in the tournament. Mr. Ashok Mohanani won the Gold in the men’s doubles 60+ category as well as Bronze in the men’s doubles 50+ category.

Speaking on the occasion Mr. Ashok Mohanani, President of IPA (Indian Pickleball Association) & Chairman of Ekta World said, “This year’s tournament saw a larger turnout of participants from across the country. It was heartening to see participants give in their very best which raised the performance bar, even further. We hope that this tournament will increase the popularity of the game and create the right awareness. We hope to see an even larger participation for next year’s event.”

Pickleball is a popular racket sport that combines elements of tennis, badminton, and table tennis. Pickleball can be played either indoors or outdoors with a racket or paddle in which two players (singles), or four players (doubles), hit a perforated hollow plastic ball over a 36-inch-high (0.91 m) net using solid-faced paddles. Opponents on either side of the net hit the ball back and forth until one side commits a fault.

Wonderla Holidays Reports Q4 and FY 23 performance at lifetime high, Recommends Dividend of 25%

Bengaluru–May 2023: Wonderla Holidays Limited, India’s largest Amusement Park chain has announced its financial results for the fourth quarter of the financial year ended 31st March 2023.

Highlights:

Footfall surpasses the pre-pandemic level. Achieved 2x growth (99%) in Footfalls compared to Q4 FY20.
Wonderla Bangalore recorded 2.69 lakhs footfalls (96% above Q4 FY20), Wonderla Kochi recorded 3.03 lakhs footfalls (128% above Q4 FY20) and Wonderla Hyderabad recorded 2.33 lakhs footfalls (73% above Q4 FY20).
Double-digit revenue growth across units, driven by robust footfall numbers.
The Resort recorded 49% occupancy in Q4 FY23.

Quarter update:

• Footfalls for the Fourth Quarter ended 31st March 2023 was 8.04 lakhs as against 4.05 lakhs during the Fourth Quarter of FY20. Footfall contribution from both the retail and institutional channels.
• Gross Revenue for the Fourth Quarter ended 31st March 2023 was Rs.112.6 crores as against Rs.44.91 crores during the Fourth Quarter of FY20.
• EBITDA for the Quarter ended 31st March 2023 was Rs.56.37 crores as against Rs.7.56 crores during the Fourth Quarter of FY20.
• Profit After Tax for the Fourth Quarter ended 31st March 2023 was Rs.35.05 crores as against Rs.1.56 crores during the Fourth Quarter of FY20.

Annual update:

Revenue at Rs. 452.4 Crores grew 60% with underlying footfall growth of 39%. Record all-time high performance. EBITDA margin remained healthy at 52%. The Board of Directors has proposed a final dividend of INR 2.50 per share, subject to the approval of the shareholders in the AGM.

• Footfalls for the Year surpasses 33.1 lakhs as against 23.8 lakhs during FY20. Positive and affirmative response from all the segments.
• Gross Revenue for the Year ended 31st March 2023 was Rs.452.4 crores as against Rs.282.9 crores during FY20.
• EBITDA for Year ended 31st March 2023 was Rs.234.68 crores as against Rs.116.1 Cr during FY20.
• Profit After Tax for the Year ended 31st March 2023 was Rs.148.9 crores as against Rs.64.78 crores during FY20.
• Recorded highest-ever EPS at INR 26.33

Business Outlook:

Commenting on the performance during the quarter, Mr. Arun K Chittilappilly, Managing Director said “We are excited to share our outstanding business performance achieved in the quarter and throughout the financial year, setting new records and reaching unprecedented heights. We experienced a remarkable surge of 2x in footfall and 3x in revenue growth, driven by an increase in walk-in customers and the resurgence of institutional sales. The company’s success is a testament to its focused efforts in attracting visitors across various segments, including Ride plus activities, F&B and Retail offerings and Events, while ensuring efficient operations. The dedication and strategic approach of our team have yielded remarkable results. The construction of our new park in Bhubaneswar, Odisha has begun, and the aim is to open it by 2025.”

Investing in Sovereign Bonds: Opportunities for investors

What are these bonds and key features?

Sovereign gold Bonds are one of the ways of digital investment in gold. These bonds are issued by the Reserve Bank of India on behalf of the Government of India. These bonds are denominated in multiples of grams of gold with a basic unit of 1 gram

The tenor of the bond will be for the period of 8 years with exit options in the 5th, 6th, and 7th years to be exercised on the interest payment dates. The minimum permissible limit will be 1 gram of gold and the maximum permissible limit shall be 4 KG for individuals, 4 Kg for HUF, and 20 Kg for trusts and similar entities per fiscal year (April-March) notified by the Government from time to time.

The redemption price will be in Indian Rupees based on the simple average of closing price of gold of 999 purity of the previous 3 working days published by IBJA. The investors will be compensated at a fixed rate of 2.50 percent per annum payable semi-annually on the nominal value. Bonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.

Why SGB are better bet in comparison to physical gold?

Investing in gold is much easier and more convenient now. Sovereign Gold Bonds (SGBs) are the perfect alternative to investment in physical gold. With these bonds, you can enjoy capital appreciation and also earn interest every year. These bonds, issued by the Government of India, also eliminate several risks associated with physical gold.

Unlike physical gold which does not provide any interest, SGB provides interest to the investor at the rate of 2.5% per annum and the last interest will be credited to the investor along with the principal amount. Also, these bonds carry a sovereign guarantee on redemption amount and on the interest as well.

The price of the Bond will be fixed in Indian Rupees on the basis of the simple average closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the last 3 business days of the week preceding the subscription period. The issue price of the Gold Bonds will be ₹ 50 per gram less for those who subscribe online and pay through digital mode. SGBs are not taxable if held till maturity

Opportunities for investors

The price of gold has increased in recent years as is visible in the gold price in the international as well as domestic markets in the chart above. Sovereign gold Bonds are suitable for those investors who don’t want to burden themselves with physical gold and storage issues.

Moreover, it is suitable for a longer-term perspective. Hence, our advice to investors is to take advantage of these digital opportunities for investments in gold. Ideally, one must allocate 10-15% of their portfolio towards investments in gold to systematically balance the overall returns. Since gold has always given good returns over the long term, investors should diversify their portfolio into gold as an alternative value proposition.

Xsolla Unveils Drops, Inks Strategic Partnership with Youappi

New Delhi, 30th May 23’: Xsolla, a leading global video game commerce company, is thrilled to unveil a series of exciting advancements in their portfolio as part of their highly anticipated quarterly release week. Xsolla is launching a new tool to augment their existing Xsolla Partner Network solution, called Xsolla Drops. Xsolla is also partnering with YouAppi, the leading mobile marketing platform to help mobile game developers and publishers maximize their users’ LTV potential.

“Drops gives game developers and publishers the ability to build and reward their gaming audience easily,” said Alexander Menshikov, Business Head at Xsolla. “We are helping game developers reward their fans, explore new user acquisition methods, and strengthen long-term engagement with a game’s current player base by offering exclusive in-game items and unique experiences. With Drops, developers will create game-specific campaigns with targeted audiences, delivering a personalized experience on a custom landing page with no code required.”

He added that Xsolla drops is a comprehensive, new marketing tool that solves the challenge of the rising costs of acquiring, engaging, and retaining players with branded websites and close collaboration with influencers, artists, esports pro gamers, celebrities, and renowned agencies.

Xsolla and YouAppi joined forces to help video game developers and publishers retain, retarget and re-engage mobile app users and while amplifying what Xsolla Web Shop already does well – increase the average purchase amount, the number of repeated purchases and re-engage with consumers who have not recently played the game.

“Today, we’re proud to announce a game-changing alliance between Xsolla and YouAppi, the leading mobile marketing platform for brands seeking exponential growth, said Chris Hewish, President of Xsolla. “Our joint mission is to revolutionize how video game developers and publishers engage with mobile app users, optimizing retention, retargeting, and re-engagement strategies. By synergizing our efforts, we’re amplifying the strengths of Xsolla Web Shop, which already excels in boosting average purchase amounts, repeat purchases, and transitioning traffic from mobile to web.”

Wardwizard Innovations Establishes EV Centre of Excellence for Skill Development of Defence Personnel

Vadodara, May 30, 2023 – Wardwizard Innovations & Mobility Ltd., a leading Indian manufacturer of electric two-wheelers under the brand ‘Joy e-bike,’ has embarked on a transformative journey to empower ‘Agniveers’ and other retired army officers. In a significant move, the company has signed a memorandum of understanding (MoU) with the Dogra Regiment and established the Wardwizard’s EV Centre of Excellence at Dogra Regimental Centre, Ayodhya Cantt in Faizabad, Uttar Pradesh.

This strategic collaboration aims to provide specialized skill development and upskilling opportunities in the flourishing Electric Vehicle (EV) industry for ‘Agniveers’ and other retired army officers. The MoU signing and inauguration ceremony, held in the presence of Dy. Commandent Colonel Saurabh Shah, Dogra Regimental Centre, Commandent Brigadier K Ranjeev Singh, Dogra Regimental Centre and Mr. Yatin Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility Ltd. marks a significant milestone in supporting the holistic growth and career transitions of defence personnel.

As part of the Enable to Empower project, Wardwizard Innovations, in partnership with the Dogra Regiment, will conduct an immersive 5-6-day training workshop for selected retired officers/personnel. The training program is meticulously designed to equip participants with the necessary knowledge and expertise to thrive in the dynamic Electric Vehicle domain. With Joy e-bike vehicles and components for demonstration and hands-on learning, participants will gain comprehensive insights into various aspects of Electric Vehicles. This initiative aims to facilitate skill development and create employment opportunities for retired army personnel associated with the Dogra Regiment, supported by the visionary leadership of Wardwizard Innovations.

Mr. Yatin Gupte, Chairman & Managing Director of Wardwizard Innovations & Mobility Ltd., commented, “We extend our heartfelt appreciation to the Ministry of Defence and the Dogra Regiment for their unwavering support in this noble endeavour. Wardwizard Innovations acknowledges and celebrates the valour and dedication of ‘Agniveers’ and other retired Army Officers, and we are committed to empowering them with new possibilities. Through our comprehensive EV training program, we equip them with the skills to thrive in this transformative industry. Together, we forge a path towards a sustainable future, where their expertise and unwavering spirit make a profound impact. We are further committed to signing MoUs with different regiments in the near future. With each step forward, we honor their legacy and build a brighter tomorrow, shaping our nation’s progress with their unwavering commitment to service.”

The EV Centre of Excellence has specially designed classes to provide practical training, lectures, and industry exposure in various areas of the EV industry. Furthermore, the centre will organize Training of Teachers (ToT) programs to ensure that faculty members stay updated with the latest developments in their respective fields. Equipped with state-of-the-art technical equipment, including part display tables, low-speed scooters, battery and charging facilities, chargers, and E-Rickshaws, the centre will serve as a hub for immersive learning and hands-on experience.

This transformative initiative not only fosters the development of technical skills but also promotes holistic growth and empowers individuals with enhanced employability and future prospects. Wardwizard Innovations is dedicated to supporting education, facilitating knowledge sharing, and driving the sustainable progress of the EV industry through skill development and upskilling initiatives.