All posts by Neel Achary

Up to 15% people suffering from depression have suicidal tendency, a psychiatric emergency: Mental health experts

New Delhi: The Associated Chambers of Commerce and Industry of India (ASSOCHAM), one of the apex trade associations of the country successfully organized another edition of the webinar series on ‘Illness to Wellness’ campaign, themed around “Depression Management and Treatment”.

The ASSOCHAM webinar was organized with an objective to cascade mass awareness and disseminate knowledge & wisdom to combat depression and promote healthier and happier life during current scenario.

The online event was graced by a team of eminent mental health experts who shared their valuable inputs on Depression management, which included – Prof. P K Dalal, President-Indian Psychiatric Society and Former Professor & Head Department of Psychiatry KGMU, Lucknow; Dr Ishita Mukerji, Program Director and Senior Psychologist, Kaleidoscope; Dr Akshay Kumar, Associate Consultant, Mental Health and Behavioural Science, Artemis Hospital, and Dr Rajesh Kesari, Founder and Director, Total Care Control who served as a moderator for the panel. The campaign running under a CSR initiative supported by SAVLON, aims at promoting healthy living with a keen focus on wellness and preventive health through healthy habits, diet, exercise, and holistic health.

Sharing his perspective, Prof Dalal said, “Depression is one of the most common mental disorders. It occurs across all the age groups and is twice as common in females as compared to males. It is treatable and the treatment should be started as early as possible. It can also occur quite commonly with other chronic physical and mental disorders as well. If left untreated it can be severe in intensity and can lead to even suicidal tendency, a psychiatric emergency.”

He said around 10 to 15 percent of people suffering with depression can commit suicide and around 20 percent more can attempt for suicide. The person should be immediately hospitalised and treated. There are now good medicines and other therapies available for the treatment of depression.

Prof Dalal added, “Medicines to treat depression are neither habit-forming nor sedating in nature. The treatment can be easily tapered off after the person remains fully asymptomatic for a considerable period.”

The key to get to the core of the issue is by addressing and communicating in a safe space. “The continuing stigma associated with mental illness was the reason why we decided to come out and talk openly about it”, said Dr Mukerji.

“For someone living with depression, acknowledging their emotions and talking to a person they trust is often the first step towards treatment and recovery,” he said.

“A better understanding of depression and how it can be treated, while essential, is just the beginning. What needs to follow is sustained scale-up of mental health services accessible to everyone, even the most remote populations in the world,” said Dr Mukerji, Senior Psychologist-Kaleidoscope, as she concluded her address.

According to World Health Organization (WHO), depression is one of the leading causes of disability. Suicide is the second leading cause of death among 15-29-year-olds. People with severe mental health conditions die prematurely as much as two decades early due to preventable physical conditions. These facts are a waking reality for all countries to re-think their approaches to mental health and to treat it with the urgency that it deserves.

The expert panel in coherence expressed that Depression is bio-psycho-social in nature, because of which a strong link between developing depressive symptoms & chronic illnesses can be established. Amidst the many important inputs during the webinar, it was also suggested that physicians who diagnose patients with chronic disorders must map the psychological impact with equal importance as co-morbidity can magnify due to the interlinking of diseases.

Between adjusting to Work from home, children’s online school-college education, lack of contact with other family members, friends and colleagues and accepting the changes of lifestyle while mitigating the fear of contracting the virus, the mental health of people took a beating. Stress became a common and consistent emotion.

In severe cases, it even led to clinical depression. Reflecting on how stress and depression are often confused with each other, Dr Kumar, one of the experts among the pantheons from the field of mental health said, “Stress and anxiety are very different from Depression. Stress is not a disorder, but more of a reaction triggered by an external stimulus which may be uncomfortable. It is often used within the professional context to indicate an uncomfortable situation, wherein we must be careful not to interchange the meaning of sadness, stress, anxiety, and depression. Having said that, chronic disorder can lead to depression, if not monitored within time.”

The critical takeaways from the insightful session, included ways to handle a person with suicidal ideation with utmost vigilance on behalf of family members & social support, tips to parents and children on time management and active listening to prevent feelings of isolation and detachment, stages of post-partum depression, looking out for symptoms of depression in someone suffering from prolonged sadness and normalizing seeking professional help to resolve and steer ahead.

The session was moderated by Dr Rajesh Kesari, founder and director, Total Care Control who also shed some light on the gravitas of the topic and highlighted the need of acknowledging the existence of the problem of depression, which is still considered a taboo, as he successfully summarized the discussion with expert inputs of the esteemed panel.

Ramp Up Training and Wellness Interventions To Help Work-From-Home Employees Strike Work-Life Balance: HR Experts

New Delhi: In response to the changes in external business environments in the wake of the Covid pandemic, companies are fast-evolving new Standard Operating Procedures for almost all business functions and are facilitating work-from-home scenarios. However, they need to ramp up training and invest in wellness programs to help their employees take these changes into their stride and thus lead a productive and balanced life, emphasized top HR executives.

The HR experts: Mr. Ashish Jain, Vice President, Right Management, Ms. SapnaHarpalani, Director – HR, Markem-Imaje, Mr Gaurav Mehta, Associate Vice President (APAC & MEA), Cvent, and Mr Ahmed Mehndi, General Manager, Learning & Development, Lemon Tree Hotels, were addressing the Panel on Human Resource & Organizational Behavior at Sapience 2020-21, the Annual Management Conclave of Great Lakes Institute of Management, Gurgaon, organized virtually on January 31, 2021.

In his address Mr. Gaurav Mehta, said that “the hybrid work model of 3-2-2 which represents three days of work from home, two days of work from office, and two more days of weekend, is here to stay especially in the services sector. And companies are now more open to hire talent from small cities and towns for backend jobs and let them work from their home location. These work-from-home employees face several challenges including the blurring of the line between work and life, where they are required to take calls during weekends and holidays, at odd hours.”

In the backdrop of people spending two thirds of their time at home – instead of one third, and in the case of working parents living in a nuclear family setup with conflicting work demands, the incidences of domestic violence are increasing. Since employees miss the third place – such as coffee joints, and parks that provided them the opportunity to connect with people, and relax, their stress levels also shoot up. Hence, companies need to invest in training and employee wellness in a big way to help these employees enhance productivity and strike a right work life balance.

In his address, Mr. Ashish Jain, said that “the worst affected sectors in the pandemic are consulting services where ‘high contact’ with customers is important. The biggest challenges the HR functions of the consulting firms faced were in the areas of making sure that the employees have all the hardware and software for them to work remotely; getting the employees to their home locations; and remaining in constant touch with the employees who are alone, away from their families to ensure their emotional well being, and safety.”

Talking about the changing work life of employees in the manufacturing sector, Ms. SapnaHarpalani, said that “companies keep introducing new processes that emphasize risk assessment, and new Standard Operating Procedures. They need to educate employees on the new processes, policies and procedures so that they are ingrained in their minds. It is also inevitable for them to take the entire HR processes – from hiring, onboarding, training, engaging, and appraising employees, to virtual platforms. She also noted that since employees have lots of time at their disposal, companies should facilitate the employees to focus on professional development activities such as learning and acquiring certifications.”

Mr Ahmed Mehndi, in his address, remarked that “Covid pandemic is unprecedented. There is no playbook that exists to help companies deal with the situation. For millennials, it is like a third world war. The change has come all of a sudden. In the hotel industry, risk assessment in each and every process has become important. The way to serve guests has changed. We are introducing new practices of sanitizing tables, rooms, and everything from lift to lobby every time after someone uses it.”

He pointed out that companies are now placing a premium on emotional competencies which is required to take care of their colleagues during hardships. Employers are also looking for new competencies such as project management, change management, and business continuity, all different aspects of ‘adversity quotient’, while they hire.

Dr. Poornima Gupta, Associate Professor, OrganisationalBehavior, moderated the session by asking relevant and thought-provoking questions.

The panel attracted the participation of students, and alumni of Great Lakes Institute of Management, and professionals from across the world. Earlier Dr. V. P. Singh, Professor and Program Director – PGDM, welcomed the participants. Prof. S K Palhan, Professor, Operations Management of GLIM, Gurgaon, proposed a vote of thanks.

Mahendra Singh Dhoni & PreEmptive Meds launches unique PreVid – nutraceutical formulation for immunity

PreEmptive Meds, Inc., (PMEDS), a research-driven Over-The-Counter Therapeutics Company focused on pre-emptive care, has recently unveiled PreVID – a proprietary nutraceutical formulation developed by doctors to power up immunity in individuals who are at risk of Viral Infectious Diseases.

PreVID will be available at select Apollo Pharmacy stores and Noble Plus Pharmacy stores across the country, as well as on online eCommerce platforms. Former Indian cricket team captain Mahendra Singh Dhoni has a stake in PreEmptive Meds, the Indian subsidiary of PMEDS.

PreVID is a uniquely formulated nutraceutical delivering a burst of immuno-nutrients. Available in three different flavours, PreVID is a 100% vegan, sugar-free and gluten-free product. PreVID meets all regulatory requirements and holds the marketing authorization license from FSSAI. This product is completely developed and manufactured in India, suitable for anyone to consume over the age of eight. The fight against COVID-19 has proven that building a stronger immunity was the best response to win the battle against this (or any) virus.

PreVID was developed by doctors based on widely published clinical evidence showing specific immunomodulatory and virucidal properties. PreEmptive Meds Pvt. Ltd has employed advanced sub-micron technology in addition to emulsification of organic curcumin and synthetically sourced Zinc, Vitamin C & D to formulate this product. A combination of precise and advanced food-science technologies ensures maximum potency and accelerated absorption.

As people age, they develop a weaker immune response against newer infectious diseases. The rapid absorption technology of PreVID powers the daily absorption of immuno-nutrients to support an adaptive immune system, especially for people who are at higher risk because of age and those who have more chances of exposure.

Unveiling PreVID in India, Mahendra Singh Dhoni said “I believe in the process. I am associated with PMEDS because of their focus and deliberate processes in bringing a product to the market. My family and I have been using PreVID for the past few months. I am a firm believer that it is our responsibility to empower our bodies, and PMEDS’ range of bioactive products with medicinal foods helps us do that by supporting our body’s innate ability to heal and fight diseases. It is exciting to watch a growing trend in food-based medicine.”

“Indians have long taken to home remedies to fight viruses and build immunity. There is a huge opportunity to create an organized alternative to immunity building. PreVID is a high-science, evidence-based product that stands apart and provides much-needed micro-nutrient nourishment to our body’s first line of defence, i.e., our own immune system”, said Dr. Joe Fenn, Founder, PMEDS.

As per the International Trade Association’s report titled India – Country Commercial Guide, the nutraceuticals market in India is expected to grow from an estimated $4 billion to $18 billion by the end of 2025, especially when preventive health has become the focus for all in the current pandemic. PreEmptive Meds Pvt. Ltd hopes to gain a significant share of this market. PMEDS will also be introducing more products to their portfolio. PreVID will soon be available in international markets as well.

Adamas University Partnered In “Tuning India Project”

Kolkata: Adamas University rated as one of the best private Universities in Eastern India, will be part of the “Tuning India Project” along with the University of Deusto, Spain. This project will see the participation of 19 universities from the European Union and India. Adamas University would receive funding of € 18,743 for this project.

Adamas University is a partner university in the Erasmus Plus funded “Tuning India Project” which is a three-year project that had started in 2017 and has been extended till October 2021 due to outbreak of the pandemic in 2020. The Project Consortium has presence of 15 Indian Universities like University of Calcutta, Jawaharlal Nehru University, Savitribai Phule Pune University, GD Goenka University, Vinoba Bhave University and others and 5 partners from the European Union like Universidad de Deusto (Spain), Universita di Bologna (Italy), Trinity College Dublin (Ireland) and others. The main coordinator of the Project is University of Deusto.

The main objective of Tuning India Project is to design, develop, implement and evaluate study programmes in four subject areas like Law, Information Communication Technology, Medicine and Teacher Education in India, which contributes to reform Higher Education in India, planned by the Government of India.

Adamas University would be represented in the Tuning India Project by Dr. Parimal Chandra Biswas, Director, International Relations as coordinator of the project and Dr. Ripon Bhattacharjee, Associate Professor of School of Law and Justice as subject teacher to contribute to study programs.

Besides the main objective of curricular development, the Project has other objectives like developing mutual trust, respect, mobility among partner universities and promoting internalization of each partner institution.

Speaking on the occasion Prof. Samit Ray, Chancellor, Adamas University said, “This is an extremely prestigious project and we at Adamas are proud to partner such a high esteemed global project. These associations will help Adamas make a mark for itself in the global education landscape. We are thankful to the University of Deusto for giving us such an opportunity. We hope apart from an overall development this project will also help our faculty members to experience and learn new aspects on the selected subjects like Law, Information Communication Technology, Medicine and Teacher Education in India”.

Bounce Electric Vehicles cross 5 million kms with 100K battery swaps

Bengaluru: Bounce, the world’s fastest-growing e-scooter sharing player has reached a significant milestone, crossing 5 million kms on its Electric Vehicle fleet within 15 months. This milestone was achieved with a wide network of Kirana owners, who have enabled over 100K battery swaps. With over 2,000 electric vehicles, Bounce currently owns one of the largest High-Speed EV fleets in the country.

Bounce has set up battery swapping stations, under its subsidiary Zuink to power the electric transition of its vehicles across Bengaluru, Mysore & Vijaywada. With its low cost, high density swapping infrastructure (powered by AI, IOT and advanced BMS), Zuink is also able to cater to demand from B2B, B2C and other fleet operators. The entire swap process is automated, driven by IoT, ensuring streamlined operations along with superior customer experience. The battery swapping stations are well distributed across the city; a swapping station is available within a 1 -2 kms from wherever the user is riding.

Through EV rides so far, Bounce has saved approximately 1,68,000 kgs of CO2 emissions, equivalent to planting 2,500 trees. The company aims to address the ever-growing commute requirement in a green, sustainable and climate-friendly manner and is looking at making all its rides carbon neutral by 2022.

Commenting on this milestone, Vivekananda H.R., CEO and Co-Founder, Bounce said, “Earlier it was a question of “if”, but now it is only a question of “when” there will be a complete transition from ICE to EVs in India. While no one can predict when the transition will be complete, it is clear that shared mobility players like Bounce will play a big role in catalysing the transition from ICE to EVs. Shared mobility provides a customer the ability to experience an EV without worrying about ownership of EV. Once the customer is convinced of EV performance, it is highly likely to influence their purchase decision towards EVs. At Bounce, we believe we can shave off 3-5 years in the transition from ICE to EV”

Over 350 Kirana stores across Bengaluru have partnered with Bounce to set up battery swapping stations. Bounce has enabled these local business owners with an additional source of income within their cities and towns. They manage the operations at the station, in addition to their local business.

Bounce currently operates in Bangalore and Tier II markets such as Hassan, Mysore, Vijayawada with over 9000 vehicles. The company has completed over 27 million rides since its launch. Bounce vehicles have moved from being a convenient option for office goers and students to an all-purpose vehicle for everyone, attracting a much wider cross-section of mobility seekers. Besides being affordable and convenient these scooters are much safer than other available options. All bikes are sanitized, following the necessary safety protocols.

Fossil Expands Partnership With Flipkart And Myntra, Launches Latest Gen 5E Series In India

INDIA, February 4, 2020: Luxury watchmaker Fossil today announced the expansion of its partnership with Flipkart and Myntra, India’s homegrown e-commerce marketplace and the leading destination for fashion and lifestyle respectively, with the launch of its Gen 5E smartwatch series to cater to the growing demand for wearable technologies in India as consumers move towards a healthier lifestyle. Unveiled recently at the Consumer Electronics Show 2021, the Gen 5E smartwatch offers personalised options with multiple enhancements and a long battery life.

Featuring an array of fashion-forward styles for men and women alike, the smartwatch offers an always-on 1.19-inch OLED display and limitless options for personalization including various interchangeable straps and watch faces. Equipped with the new wellness enhancements that allow users to track sleep history, monitor restfulness, set activity goals and much more, its advanced sensors provide promising data to power all the health and fitness apps. Additionally, with various smart battery modes including daily mode, extended mode, time only mode and custom mode, users can always stay connected with notifications for calls, texts and apps among others.

With this launch, Fossil aims to offer an elevated experience with the ability to connect with Smart Home devices, lights, music and more – right from your wrist. This launch assumes significance as India is one of the fastest-growing markets for wearables in the world and is witnessing a tectonic shift in the consumption of wearable technologies by customers. This demand is being driven on the back of more consumers becoming health conscious and have grown aware of maintaining the health parameters in addition to being accelerated by the COVID-19 pandemic.

“The new Fossil Gen 5E is testament to our teams’ effort in creating technology that will not only look fashionable but also help augment the user’s lifestyle,” says Johnson Verghese, Managing Director, Fossil Group, India. “At the heart of it, this new offering from Fossil goes a step further to ensure increased connectedness and stylized designs that we are certain our consumers will love. With all the essential features of our Gen 5 smartwatch, the Gen 5E is keenly priced and will be available online for purchase on Myntra and Flipkart.”

Rakesh Krishnan, Senior Director, Electronics at Flipkart said, “The Indian wearable market is witnessing a rapid growth since the past few years driven by the increasing number of health-conscious customers and a growing preference for a healthier lifestyle. This trend got a shot in the arm with the COVID-19 pandemic as people looked for different ways to maintain their health. Flipkart, with its nuanced understanding of its customers, understands their fast-evolving needs and has been working with its partners to bring the best-in-class technological solutions to the doorstep of millions of our customers. In this endeavour, Fossils has been a natural partner in serving customers’ varied needs and we are pleased to strengthen our long-standing relationship with this India launch of their latest smartwatch series”.

Commenting on the launch, Rahul Sachdev, Director, Accessories, Myntra said, “Myntra and Fossil enjoy a strong and long standing relationship and have been catering to India’s fashion-forward customers in a unique way. With this launch, we further strengthen our partnership, as wearables have evolved to becoming fashionable accessories, taking the user’s fashion quotient a notch higher. It’s a perfect fit for Myntra, a leading player in the fashion and lifestyle space and Fossil, an iconic watchmaker, to come together to launch the latest wearable for their consumers.”

Smartwatches are gradually becoming an integral part of everyone’s lives, helping users stay fit and healthy as the world moves to a new order post pandemic. This is further driving the fast evolution of smartwatches which now lets you become more productive while being healthy and Fossil is at the forefront of bringing such technologies to our consumers in collaboration with partners like Flipkart and Myntra to elevate their experience.

About Fossil

Fossil is inspired by American creativity and ingenuity. Bringing new life into the watch and leathers industry by making quality, fashionable accessories that are both fun and accessible. Today, we continue to focus on what makes us, us: Our optimistic attitude, our dedication to authenticity and, of course, our creative spirit. The things we make, from traditional watches to smartwatches, bags to wallets, jewelry to gifts, complement every style, and fit every lifestyle—for all the moments that make you, you.

About the Flipkart Group

The Flipkart Group is one of India’s leading digital commerce entities and includes group companies Flipkart, Myntra and Flipkart Wholesale. Started in 2007, Flipkart has enabled millions of consumers, sellers, merchants, and small businesses to be a part of India’s e-commerce revolution, with a registered customer base of over 300 million, offering over 150 million products across 80+ categories. Our efforts to democratise e-commerce in India, drive access and affordability, delight customers, create lakhs of jobs in the ecosystem and empower generations of entrepreneurs and MSMEs have inspired us to innovate on many industry firsts. The recent launch of Flipkart Wholesale, our new digital marketplace, is a testament to our commitment to accelerate the growth of kiranas and MSMEs in India. Flipkart is known for pioneering services such as Cash on Delivery, No Cost EMI and easy returns – customer-centric innovations that have made online shopping more accessible and affordable for millions of Indians. Together with Myntra, which holds a prominent position in the online fashion market, and now Flipkart Wholesale, the Flipkart Group will continue to steer the transformation of commerce in India through technology.

About Myntra:

Myntra is India’s leading platform for fashion brands and pioneer in m-commerce play. An integral part of the Flipkart Group, Myntra brings together technology and fashion to create the best experience in the fashion and lifestyle space in India. The company has partnered with over 5000+ leading fashion and lifestyle brands in the country such as Nike, Adidas, Puma, Levis, Wrangler, Arrow, Jealous 21, Diesel, CAT, Harley Davidson, Ferrari, Timberland, US Polo, FabIndia, Biba, and many more, to offer a wide range in latest branded fashion and lifestyle wear. Myntra services over 27,000 pin codes across the country.

Payworld doubles its growth within a year of lockdown

Mumbai: When the entire country was reeling under the intense impact of the pandemic lockdown, Payworld, a fintech company based out of Gurugram – Delhi NCR and a Banking Correspondent for a number of banks, stepped in and transformed the lives of people from the marginal sections of the society with its essential financial services.

Payworld’s assisted financial services cater mainly to the semi-urban and rural citizens of India. With its network of over 4 lac retailers, the company provided the essential financial services including AEPS, Domestic Money Remittances, Insurances, Digital Payments, Rail and Air ticketing and others to a very large number of citizens who needed these most and helped them remain unaffected by the outbreak.

Prior to the outbreak, it was evident that fintech would play a key role in financial services and COVID-19 accelerated that process. Payworld experienced a surge in demand as working practices and customer banking habits changed in the COVID-19 era. This is because Payworld created a faster, efficient and relatively cheaper financial services distribution network using technology. Payworld led to a steep growth in all its services such as remittance, loans, insurance and ticketing due to our retailers, who are locals from the village, semi-urban and rural areas. They helped us in expanding our reach to the remotest of areas and enabled the people to avoid traveling for long distances. As a result, Payworld increased its retailer base from 2 lac to 4 lac with an aim to penetrate into more rural markets which constitute over 70% of the untapped audience who have no access to digital technology.

Mr. Praveen Dhabhai, COO, Payworld, said, “Health concerns during the pandemic made travel s almost impractical and opened the door for faster onboarding and training of our retailers using technology… This paved way for Payworld to reach out to the semi-urban and rural citizens of India. Today, we have witnessed maximum growth in the states of UP and Bihar with AEPS being the most frequently used Services. Within a year, we have seen a 50% growth in retailers, 25% growth in distributors and 110% growth in transactions. Way forward, we plan to replicate the success of UP and Bihar and further penetrate into the rural areas and contribute to India’s development through financial inclusion and digitization.

About Payworld
Payworld is an initiative from Sugal & Damani group of companies. Flagging off its operations in 2006, Payworld has built a formidable presence in India with over 400,000 active retail touch-points across 630 Districts and 25 states providing access to untouched market segments to the service providers. Payworld, which builds on the business philosophy of “Making Life Simple” offering smart solutions by their intelligent electronic transaction processing platform where a consumer can do financial transactions by visiting retail touchpoints by paying digitally and in cash. These retail points use Payworld’s application which runs on Desktops, Laptops and Mobile phones using Android, Windows, iOS & Java platforms.

Boston based Hyderabadi entrepreneur Praveen Tailam, elected as the Chairman of the TiE Global Board of Trustees for the year 2021

Hyderabad: Hyderabadi, Praveen Tailam, elected as Chairman of the TiE Global Board of Trustees. He is the first-ever Hyderabadi to reach that coveted post.

Disclosing this in a press note issued in Hyderabad today, TiE Hyderabad said, Praveen Tailam heads TiE (The Indus Entrepreneurs) Global, the largest entrepreneurs’ not-for-profit organization dedicated to fostering entrepreneurship globally through mentoring, networking, education, funding and incubation.

Praveen is well-known in the TiE community as an entrepreneur, investor, startup advisor, speaker, mentor, and philanthropist. He was previously the Vice-Chairman of TiE Global Board in 2018. After running his own consulting company, Praveen’s interest in promoting startups drove him to lead TiE Boston Angels, a successful angel group in the U.S., and becoming TiE Boston chapter president in 2016. Praveen also operates multiple dental offices in New Hampshire and Maine. Praveen advises and invests in several startups.

On being elected as Chairman, Praveen said, “The year 2020 has been a challenging one, and entrepreneurs, particularly the TiE members, reinvented themselves rapidly to the changing business landscape. TiE Global Summit in December 2020, hosted by my hometown chapter, TiE Hyderabad, was a big success with a record participation of over 30,000 attendees. It is a testimony to the strength of TiE. We will continue to boost collaboration across chapters and members worldwide. TiE is well-positioned to advise state and central governments in proposing business-friendly policies to stimulate startup ecosystems and enable cross-border investments”.

Congratulating Praveen, Manohar Reddy CEO of Feuji Inc. and President of TIE Hyderabad said, “it is a matter of great pride for us that a Hyderabadi has become a Chairman of the TiE Global organization. I look forward to impactful partnerships this year and I am Sure having a Hyderabadi as global president will help. TIE strives to support startup founders’ journey by connecting them to global entrepreneurs, mentors, access to investors and corporations that enables growth and scale that is essential for any company to leapfrog to next level”.

Praveen grew up in Domalguda, in Hyderabad, the Capital city of Telangana State is a proud alumnus of The Hyderabad Public School, Ramanthapur from the 1986 batch and the co-founder of HPSR US Alumni Association. “Praveen was the school’s cricket team captain and on the prefectorial leadership. Praveen truly represents our school’s ethos of nurturing global leaders and is instrumental in launching the entrepreneurship program in collaboration with TiE for our high schoolers. We are proud of his achievements.”, stated Ashwin Rao, Secretary, The HPSR Alumni Association.

The TiE Global Board comprises leaders and domain experts from around the world. Gita Dang from New Delhi, P.K. Gulati from Dubai, Pradeep Udhas from Mumbai, Smita Siddhanti from Washington D.C., Dinesh Dhamija from London, C.N. Madhusudan from Atlanta, Tariq Khan from New York, B.J. Arun (vice-chairman) from Silicon Valley. Also on the Board are Ravi Narayan, CEO T-Hub Hyderabad; Chief Innovation Officer, Govt. of Telangana; and former Global Director, Microsoft for Start-ups. Kali Prasad Gadiraju, Chairman and M.D. of Qubit A.I. is the former Managing Partner at E.Y. and served as President on TiE Hyderabad board.

TiE was founded in 1992 in the Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. TiE has 61 Chapters in 14 countries with more than 15,000 members worldwide. It is a matter of great pride for Hyderabad that its son of the soil reached such a top position. TiE’s focus area is to enable the next generation of entrepreneurs. It connects the entrepreneurship ecosystem from early-stage entrepreneurs, serial entrepreneurs, and professionals at leading corporations, venture capital and angel investors.

TiE Global programs include TYE (TiE Young Entrepreneurship) for high-schoolers, TiE University – for university students, TiE Global Angels and TiE India Angels funding early and growth-stage startups, TiE Women provides opportunities for women entrepreneurs and TIE Access is a program to serve underserved communities and minorities.

TiE Global has also launched ten special interest groups in various domains, including Education, Healthcare, Emerging Tech, Fintech, Gaming & Media, Hospitality & Tourism, Manufacturing, Social Entrepreneurship, and Sustainability. The TiE Global Summit conference has empowered various stakeholders in the startup community in Asia and worldwide. The TiE Global Entrepreneur Awards is a new initiative that recognizes and celebrates outstanding entrepreneurs around the world.

Minda Industries limited (‘MIL’) registered revenue of ₹ 1802 Cr in Q3 FY21

Minda Industries Limited (‘MIL’) has announced its results for quarter ended December 31st, 2020. At a consolidated level, the company registered revenue of ₹ 1802 Cr in Q3 FY21 as against ₹ 1327 Cr for corresponding quarter i.e., Q3FY20, registering a rise of 36%. Auto industry has continued its growth momentum and that on the back of strong demand.

Most automotive industry segments have reported successive improvement in offtake throughout the second half of CY’20 on the back of initial bounce provided by pent-up demand aspect, followed by preference for affordable personal mobility. The mobility demand surge driven by COVID risk is expected to normalize as public transport restarts across regions.

The EBITDA for Q3 FY21 has been reported as ₹ 264 Cr vis-à-vis ₹163 Cr in Q3 FY20.

Profit before tax before exceptional items for Q3 FY21 was at ₹164 Cr as against ₹78 Cr in Q3 FY20. The rise in PBT is largely on account of higher operating leverage and relaxation of rules during COVID -19.

PAT (MIL Share) for the quarter is ₹ 108 Cr in Q3FY21 as against ₹45 Cr in Q3FY20 in corresponding quarter last year.

To reward and distribute wealth to its shareholders, The Board has also declared interim dividend of Rs 0.35 per share i.e. 17.5% of face value.

Minda Industries Ltd. Q3 FY21 Result Highlights:

  • Q3 FY21 Consolidated Revenue of ₹ 1802 Cr., Y-O-Y growth 36%
  • Q3 FY21 Consolidated EBITDA of ₹ 264 Cr., Y-O-Y growth 62%
  • Q3 FY21 Consolidated PBT of ₹ 164 Cr., Y-O-Y growth 110%
  • Q3 FY21 Consolidated PAT (MIL share) at ₹ 108 Cr., Y-O-Y growth 142%
  • Declared Interim Dividend of Rs 0.35 per share i.e.17.50% of face value
Particulars Q3 FY21 Q3 FY20 YoY % Q2 FY21 QoQ
Revenue from Operation 1,802 1,327 36% 1,465 23%
EBITDA 264 163 62% 215 23%
Margin (%) 14.7% 12.3% 236 bps 14.7% 0 bps
PBT 164 78 110% 129 27%
Margin (%) 9.1% 5.9% 320 bps 8.8% 30 bps
PAT 121 53 126% 84 43%
Margin (%) 6.7% 4.0% 270 bps 5.8% 90 bps
PAT (MIL Share) 108 45 142% 81 34%
Margin (%) 6.0% 3.4% 260 bps 5.5% 50 bps
EPS (diluted) in Rs 4.07 1.70 138% 3.07 33%

Mr. Nirmal K Minda, CMD, Uno Minda Group says, “We’re happy to report an improvement in our overall performance during the quarter. We see the demand increase more than ever due to rise in preference for personal mobility. Localization has been one of the key pillar of our foundation. We believe that the Long term demand outlook is still intact and we are well poised to capitalize on this demand. We will continue to pursue our goal with new vigor as we will emerge much stronger from the current challenging environment.”

Sunil Bohra, CFO, Uno Minda Group says, “We have witnessed growth across all product portfolio. Healthy demand coupled with higher kit value per vehicles is enabling us to continue better than industry performance. During the quarter, we have been able to bring in more efficiencies on operational front as well as strengthened our balance sheet. We have worked hard to improve working capital efficiency and the strong free cashflow has helped us to reduce our net-debt to equity to 0.37 times as on December 2020 “.

 About Minda Industries Limited:

Minda Industries Limited (MIL) is a flagship Company of UNO MINDA Group. UNO MINDA, a technology leader in Auto Components Industry is a leading supplier of proprietary automotive solutions to OEMs as Tier-1. It manufactures automobile components for Original Equipment Manufacturers (OEMs). It is an INR 72 billion (US$ 0.95 billion) Group as in 2019-20 and is rapidly expanding with growing market share across all its product lines. It endeavours to deliver high technology and quality products to its customers globally.

For more information about the Group and its businesses, please visit the website at http://www.unominda.com

Kansai Nerolac Paints launches Nerolac Excel “Multi Surface Protection Sheets”

Hyderabad: Kansai Nerolac Paints Ltd. (KNPL), one of the leading paint companies in India is proud to present its latest groundbreaking innovation, the Nerolac Excel “Multi Surface Protection Sheets”. Nerolac has consistently worked towards innovations and promoting transformation and environmental sensitivity through its product portfolio and customer awareness campaigns.

The Nerolac Excel ‘Multi Surface Protection Sheets’ are truly unique. With benefits ranging across anti-bacterial, anti-viral properties to odour and humidity control, these sheets can be used on a variety of surfaces inside homes such as wardrobes, study tables, shoe racks, doorknobs, milk baskets, staircases, dustbins and more. These sheets are available in two convenient sizes and price points including A4 (MRP Rs 800/-) and A2 (MRP Rs 2000/-) on the Nerolac brand store on Amazon & paint selling outlets.

Commenting on the launch, Mr. Anuj Jain, Executive Director, Kansai Nerolac Paints Ltd. said, “Consumers are increasingly looking for solutions that can improve quality of life at home. Occurrence of odour, humidity and germs cause many household problems related to health & hygiene. Most of the solutions available in the market provide temporary relief and prove to be a drain on household budgets. Nerolac Excel “Multi Surface Protection Sheets” are designed to offer solutions for a variety of household issues and are a convenient way to improve health & hygiene of our homes for a longer period. We are confident that Indian households will appreciate this innovation and try it.”

The Nerolac Excel “Multi Surface Protection Sheets” is yet another offering by Nerolac in its attempt to offer its consumers a healthy and germ-free environment. The company remains committed to its purpose of building environments for a healthy and beautiful future.

About Kansai Nerolac Paints Limited:

With a rich heritage of 100 years in the paint industry, Kansai Nerolac Paints is one of the largest paint companies in India and the leader in industrial segment. A wholly owned subsidiary of Kansai Paint Co. Ltd., Japan, which is among the Top 10 companies worldwide, Kansai Nerolac manufactures a diversified range of products ranging from decorative paint coatings for homes, offices, hospitals, and hotels to sophisticated industrial coatings for industries. Kansai Nerolac has established itself as a leader in product innovation with its initiatives including no added lead, low VOC and HD finishes with brands like Excel. Its product portfolio and customer awareness campaigns promote environmental sensitivity. www.nerolac.com