Archive: February 1, 2025

Channa Di Yaariyaan Commends the Spirit of Friendship with a Soulful Anthem

Mumbai India 01st February 2025:  If there’s one song that perfectly captures the spirit of friendship this season, it’s Channa Di Yariyaan. A vibrant, soul-stirring track from Amit Trivedi’s new album Azaad Collab, this song is an upbeat celebration of camaraderie that’ll have you singing along and hitting the dance floor in no time.

The track brings together the best of music and emotion. Amit Trivedi, known for his knack for blending melodies with meaning, teams up with Neha Kakkar to create magic with his vocals and composition. Neha’s distinct voice adds just the right amount of energy and heart, giving the song its unique vibe. Together, they’ve crafted a track that’s not just about great beats but also about the joy of celebrating the people who make life brighter, our friends.

Geet Sagar’s heartfelt lyricism adds depth to the song. The words, laced with warmth and emotion, paint a picture of friendships that feel like home. Whether you’re reminiscing about old memories with friends or creating new ones, Channa Di Yariyaan makes for the perfect soundtrack to those moments.

This song is part of Azaad Collab, Amit Trivedi’s ambitious album that brings together an eclectic mix of voices, including Sunidhi Chauhan, Jubin Nautiyal, Armaan Malik, Neeti Mohan, and more. While each track offers something different, Channa Di Yariyaan stands out as a tribute to the bonds we cherish most.

So, if you’re looking for a song that’s equal parts fun and feel-good, look no further. Channa Di Yariyaan isn’t just a tune; it’s a celebration of friendships, ready to be blasted at every gathering, road trip, and moment worth remembering.

Friendship, music, and good vibes – Channa Di Yariyaan has all the ingredients to be your go-to anthem this season.

Aster DM Healthcare Commends Robust Performance Across Q3 and 9M FY25

Bengaluru, 01st February 2025: Aster DM Healthcare, one of the leading integrated healthcare service providers in India, today announced its financial results for the quarter ended December 31, 2024.

Key Financial Highlights

Revenue

• Revenue grew 15% YoY to INR 3,138 Crs. in 9M FY25 Vs. INR 2,721 Crs. in 9M FY24.
• Revenue grew 11% YoY to INR 1,050 Crs. in Q3 FY25 Vs. INR 949 Crs. in Q3 FY24.

EBITDA

• Operating EBITDA grew 35% YoY to INR 613 Crs. in 9M FY25 Vs. INR 453 Crs. in 9M FY24.
• Operating Margins stood at 19.5% in 9M FY25 as compared to 16.6% in 9M FY24.
• Operating EBITDA grew 20% YoY to INR 202 Crs. in Q3 FY25 Vs. INR 168 Crs. in Q3 FY24.
• Operating EBITDA Margins stood at 19.3% in Q3 FY25 Vs. 17.7% in Q3 FY24.

Profits

• PBT grew by 103% YoY to INR 413 Crs. in 9M FY25 Vs. INR 204 Crs. in 9M FY24.
• Adjusted Net Profit (post NCI) grew by 65% to INR 251 Crs. in 9M FY25 Vs. INR 153 Crs. in 9M FY24. Adjusted PAT excludes one-off merger transaction cost of Rs 23.7 Cr.
• The Board of directors at its meeting held on 31st January 2025 approved an interim dividend of INR 4 per equity share

Commenting on the performance for 9M FY25, Dr. Azad Moopen, Founder and Chairman, Aster DM Healthcare, said: “We are pleased with the momentum built in the third quarter of FY25, which reflects our unwavering focus on operational excellence and capacity enhancement. For 9M FY25, our India business achieved 15% YoY growth, reaching INR 3,138 crores, driven by increased patient volumes and growth in ARPOB. The Operating EBITDA grew by 35% YoY to INR 613 crores and adjusted net profits (post NCI and excluding merger transaction cost) grew by 65% YoY to INR 251 crores for 9M FY25. A consistent growth across our core businesses, combined with strategic cost optimization, has significantly strengthened our margins with 9MFY25 Operating EBITDA margins standing at 19.5%.”

Dr. Moopen further added, “As we expand, with plans to surpass ~6,800 beds by FY27, Aster DM Healthcare is well-positioned to meet the increasing demand for advanced healthcare in India.

Update on Merger and the Preferential Allotment

The Company has received the shareholders’ approval for: (i) the issuance of equity shares on a preferential basis to eligible shareholders of Quality Care India Limited (QCIL); and (ii) change in the registered office of the Company. The application for seeking an approval for the preferential allotment to eligible shareholders of QCIL, the acquisition of ~5% stake in QCIL, and the subsequent merger has been filed with Competition Commission of India (CCI) for their approval. An application with the stock exchange has also been submitted for approving the merger. The Company would soon file the application for the change in registered office of the Company with the Regional Director, South-East Region, Telangana.

The closing of the transaction is pending the fulfilment of regulatory and compliance requirements, including the receipt of no-objection letters from the stock exchanges, approvals from CCI and the National Company Law Tribunal (NCLT).

India Performance Highlights

• Overall Operating EBITDA margin of 19.5% in 9M FY25 (16.6% in 9M FY24)
• Core hospital business delivered Operating EBITDA margin of 22.3% in 9M FY25 (19.5% in 9M FY24)
• Matured hospital (6+ years since commencement) Operating EBITDA margins at 25% in 9M FY25 (22% in 9M FY24) and ROCE at 36%
• Karnataka & Maharashtra cluster revenue grew by 33% YoY and Operating EBITDA grew by 58% YoY in 9M FY25
• ALOS has improved to 3.2 days in 9M FY25 from 3.4 days in 9M FY24
• Payor mix improved with Insurance business at 30% (i.e. +300 bps), offset by lower scheme business in 9M FY25
• Aster Labs revenue grew by 14% YoY in 9M FY25, continuing to deliver positive EBITDA margin at 8% for 9M FY25 post breakeven in Q4 FY24
• Successfully added 100 beds to existing capacity at our flagship hospital Aster Medcity during the quarter
• Further plan to add ~1700 beds to reach 6800+ beds capacity by FY27

AET Displays Commends Innovation as It Unveils Cutting-Edge LED Tech at ISE 2025

India /Barcelona, 1st January 2025: AET Displays, a global leader in LED display technology, is set to showcase its groundbreaking solutions at Integrated Systems Europe (ISE) 2025, the world’s premier exhibition for AV and systems integration. The event will take place from February 4th to February 7th at the Fira Barcelona Gran Via. AET’s revolutionary active LED display technology will be on showcase at Booth 3N130 in Hall 3 for a firsthand experience.

At ISE 2025, AET Displays will present an impressive range of advanced LED solutions powered by its proprietary QCOB, COB MIP technologies. Designed for precision, durability, and exceptional performance, these solutions cater to diverse applications such as home theatre systems that deliver unmatched clarity and immersive visuals for next-level entertainment, retail and corporate displays that redefine customer engagement with sleek and interactive designs, and transportation hubs that enhance navigation and communication with ultra-clear displays for airports and metro stations. AET will also showcase interactive and fine-pitch displays that captivate audiences with ultra-high resolution and seamless integration.

At AET’s booth, you will have the opportunity to witness live demonstrations of AET’s cutting-edge technologies and explore how these LED display solutions are transforming industries such as retail, corporate, transportation, entertainment, and beyond. The showcase will highlight how AET is setting new benchmarks in LED display technology with its customer-centric and innovative solutions. With these cutting-edge offerings, AET Displays solidifies its leadership in the fast-evolving LED technology space.

Commenting on AET’s participation, Prashant Srivastav, International Marketing Head at AET Displays, said, “ISE 2025 provides an unparalleled platform to showcase our innovative technologies. Our QCOB, COB and MIP solutions represent the future of LED displays, and we are eager to demonstrate how AET’s display technology is driving transformation across industries.”

With over 25,000+ installations worldwide and a robust network of 1,500+ partners, AET Displays has established itself as a trusted leader in LED display solutions. The company’s commitment to innovation and quality is backed by its state-of-the-art manufacturing facilities, ensuring exceptional customization and performance across industries. The event also marks AET’s ongoing commitment to shaping the future of LED display technology, with plans to expand its product portfolio and strengthen partnerships globally.

IIM Sambalpur Commends Breakthroughs in Global Management Research at IMPeC 2025

01st February 2025: IIM Sambalpur, one of the premier management institutions, hosted the much-awaited annual flagship conference titled, “International Management Perspectives Conference (IMPeC) 2025” with the theme “Digitalization, Entrepreneurship and Sustainbility” at its campus. Aligning with the vision of the Viksit Bharat@47 – Transforming the nation’s future, IIM Sambalpur through IMPeC 2025 served as a platform for thought leadership and knowledge exchange researchers, eminent academicians, research scholars, and students to exchange ideas and to communicate and discuss research findings leading to new advances in Management Science. While reinforcing the country’s commitment towards digitalization, sustainability and entrepreneurship, the three-day conference aims to shape the future of management education, research and policy-making in the nation by facilitating the production of high-quality research that specifically addresses emerging topics these areas. Moreover, the event also created opportunities for participants to disseminate research ideas and explore possible scholarly collaborations and networking. More than 500 paper were presented during the conference both online and offline.

Keshav Rao, Director (Personnel), Mahanadi Coalfields Limited graced the occasion as the Chief Guest while Pankaj K Verma, Chief Sustainability Officer, Adani Green Energy was present as the keynote speaker, Praveen Kumar Verma, CEO, TATA Power Western Odisha Ltd and Prof. Mrinal Chatterjee, Regional Director, IIMC were present as the guests of honour; and during the inauguration ceremony. Prof Mahadeo Jaiswal, Director, IIM Sambalpur, along with Dr. Arvind Sahay, Director, MDI Gurgaon; Dr. Shreepad Karmalkar, Director, IIT Bhubaneswar and Dr. Pawan Kumar Singh, Director, IIM Tiruchirappalli were present in the panel discussions.

Prof Mahadeo Jaiswal, Director, IIM Sambalpur, said, As AI rewrites the definition of intelligence, foundational principles of theory and the research. Should we place our trust in the models or should we trust the vast ocean of data? Business and innovation are positioned at the cusp of a paradigm curve, with the next 75 years witnessing the rise of agile startups over the corporate giants. As technology assumes more intellectual properties, humanity has to lose not its essence, but rather is challenged to mould change rather than adapt to it.”

Prof Jaiswal further shared, “At IIM Sambalpur, we are at the forefront of five strategic initiatives of national importance, and we keep working on gender diversity and now empowerment of women. Moreover, we are working towards the positioning of local cities as global economic hubs, reimagining educational methodologies, fostering global academic and industry collaborations, and defining ‘Brand India’ as a force in the global knowledge economy. This is aligned with the vision for Viksit Bharat 2047- the vision for growth that is both inclusive and sustainable, while exerting intellectual leadership on the world stage. We look to shape a future where India becomes a leader in academia, industry, and socio-economic development through interdisciplinary research, policy-driven engagement, and innovation.”

Shri Keshav Rao, Director (Personnel), Mahanadi Coalfields Limited, said, “Digitalization, entrepreneurship, and sustainability are the cornerstones of India’s economic and societal transformation. Our nation’s progress in digital innovation has positioned it as a global leader in financial technology, while the entrepreneurial ecosystem continues to drive groundbreaking innovations and wealth creation. However, sustainability remains a critical challenge that requires a careful balance between industrial growth and environmental responsibility.” He further added, “Institutions like IIM Sambalpur play a pivotal role in fostering intellectual discourse, industry-academia collaboration, and policy-driven solutions to address these transformative challenges. By integrating technology, entrepreneurship, and sustainable business practices, we can shape an inclusive and resilient future for India, contributing to the broader vision of Viksit Bharat 2047.

During the panel discussions, Prof Mahadeo Jaiswal, Director, IIM Sambalpur, along with Dr. Arvind Sahay, Director, MDI Gurgaon; Dr. Shreepad Karmalkar, Director, IIT Bhubaneswar and Dr. Pawan Kumar Singh, Director, IIM Tiruchirappalli explored the critical role of management institutions in shaping future leaders centered around the theme “B-School Leaders’ Dilemma: Where Should the Emphasis be in the Context of Digitalization, Entrepreneurship, and Sustainability?”. In the broader vision of Viksit Bharat 2047, the key requirement is skilled human capital, where academia can significantly contribute by nurturing capable managers and leaders to spearhead these three transformative themes.

The conference also featured various plenary sessions, panel discussions, and paper presentations across various domains including Challenges and opportunities in the future of work, Strategies for climate resilience and stakeholder engagement, Leveraging India’s demographic dividend for economic growth and guiding scholars on publishing and academic research excellence.

A special JMP Workshop on Statistical Discovery was also conducted by Dr. Muralidhara Anandamurthy, Head – Global Academic Ambassador, JMP (SAS).

The even witnessed participation from IITs, IIMs, regional colleges, and international institutions across online and offline modes. Among IITs, four institutions, including IIT Indore, IIT Roorkee, IIT Kharagpur, and IIT Bombay, participated online, while three, including IIT Dhanbad, IIT Roorkee, and IIT Delhi, took part offline. Similarly, four IIMs—Indore, Nagpur, Sambalpur, and Raipur—joined online, while IIM Sambalpur, IIM Sirmaur, IIM Calcutta, and IIM Ranchi participated offline. Regional colleges had significant involvement, with 119 participating online and 129 offline. Internationally, three institutions, including researchers from Bremen (Germany), Twilio (USA), and Fatima College of Health Sciences (UAE), contributed online, while the Ministry of Manpower (Indonesia) participated offline.

Five Star Business Finance Limited Commends Robust Performance in Q3FY25

Chennai, 01st  February 2025: The Board of Directors of Five-Star Business Finance Limited, has declared its unaudited financial results for the quarter and nine months period ended December 31, 2024.

Commenting on the results, Mr Lakshmipathy Deenadayalan, Chairman & Managing Director, said, Any Financial Institution needs to take care of 2 important functions – business and collections – to ensure that they deliver strong results across quarters. Five Star is fundamentally a collections first Company, which is also reflected in our result during the current quarter. The track record of the Company over the last many years clearly demonstrate that we will be able to maintain strong asset quality even in the most challenging times and this quarter is no different. We continue to maintain our philosophy of asset quality being the first focus followed by profitability and growth.

Needless to say, the last 2-3 quarters have been challenging for the entire financial services sector, especially for the small ticket lenders and more so from a collections perspective, given the overleverage and consequent stress build up. The last couple of quarters saw the unsecured lenders go through significant stress, which continues in Q3FY25 as well. Given a crisis of this magnitude, there will be some trickling effect on the other lenders as well, and there was a marginal impact that was witnessed by Five Star during this quarter.

However, I am happy to say that despite the marginal impact witnessed during the quarter, our asset quality and profitability continue to remain robust, when compared with many other players operating in this space. We have also grown a portfolio during the quarter, albeit at a slightly slower pace, with a view to be in line with our growth guidance.

During this quarter, we disbursed Rs 941 Crores of loans as against INR 1,251 Crores in Q2FY2025, with a clear view to bring down to our portfolio growth in line with our guidance. We added 69 branches during Q3FY2025 (a combination of fresh branches and branches that were split from the existing branches which have reached a certain size), leading to a branch network of 729 branches across 9 states and 1 union territory. We continue to invest in and maintain an appropriate infrastructure framework which will ensure that the Company has the right framework to manage risk in an appropriate manner.

On the collections front, we saw a good set of numbers for Q3, despite the headwinds mentioned above. Our unique customer collections came in at 96.7 %, which is a very marginal drop from the previous quarter, and we had a total collection efficiency of 98%. When viewed from a sectoral context, both are impressive numbers. Consequent to the slight drop in collections, there was also a marginal increase in gross NPA by 15 bps from 1.47% in Q2FY25 to 1.62%. We also saw a marginal inch-up in our 30+, which stood at 9.16% as of Q3FY25. We will continue our sharp focus on collections to ensure that the asset quality remains one of the best in the industry.

During the quarter, we received incremental debt sanctions of Rs 1,400 Cr, availing Rs 1,045 Cr. We continue to diversify our borrowing sources and towards this we obtained funding from HDFC Mutual Fund, HSBC Mutual Fund and SIDBI during this quarter. This has helped bring down our bank borrowing from 70% as of September ’24 to 65% as of December’24. On a Y-o-Y basis, the proportion of our borrowing from banks has dropped from 84% in December’23 to 65% in December’24. Cost of funds on the book has almost remained flat at 9.63% for the quarter. In addition to unavailed sanctions of Rs 600 Cr, we have a robust liquidity on the balance sheet of Rs 2,145 Cr.

Key Highlights for Q3FY25:

Distribution:
1. The Company has increased its branch presence to 729 branches across 10 states / UT.
2. During the quarter, the company opened 69 new branches.
3. Disbursals – The Company disbursed an amount of Rs 941 Cr in Q3FY25 as against Rs 1,209 Cr in Q3FY24.

Assets under Management:
1. AUM as of December 31, 2024 ended at Rs 11,178 Cr, growth of 25% on y-o-y basis and 2% on q-o-q basis.
2. AUM is well distributed across 0.44 mn active loans

Collections & Asset Quality:
1. Collection efficiency for the quarter stood at 98%. Unique customer collection efficiency for the quarter stood at 96.7%.
2. 30+ DPD ended at 9.16% as of December 31, 2024.

Provisions:
1. ECL provision carried on books was 185 Cr (excluding ECL maintained on inter-corporate deposits), which translates to 1.66% of the overall AUM.
2. Stage 3 provision was at 91 Cr leading to a provision coverage ratio on stage 3 assets of 50.20%

Borrowings:
1. Total borrowings including debt securities are at Rs 7,362 Cr as on December’24.
2. The company continues to carry a liquidity of Rs 2,145 Cr as on December’24.
3. Cost of incremental debt during the quarter almost remained flat at 9.56% as against Q2FY2025.
4. Cost of funds on overall borrowing book for the quarter was at 9.63%.

Financial Performance for the quarter:
1. Total income of Rs. 731 Cr; y-o-y growth of 28%
2. PBT of Rs.365 Cr; y-o-y growth of 26%
3. PAT of Rs.274 Cr; y-o-y growth of 26%
4. ROA at 8.10%; q-o-q decrease of 26 bps and y-o-y decrease of 15 bps.
5. ROE at 18.49%; q-o-q decrease of 53 bps and y-o-y increase of 75 bps.