Tag: Chairman and Managing Director

Business World, News

Sunteck Realty Limited rating affirmed ‘AA-’ with the outlook upgraded to ‘Positive’

Feb 27, 2021 by Rekha Nair 0 Comments #Chairman and Managing Director, #Mr. Kamal Khetan, #Sunteck Realty Ltd.

Hyderabad: Sunteck Realty Limited, Mumbai’s premium real estate developer announced its long-term issuer rating affirmation of ‘AA-’ with the outlook upgraded to ‘Positive’ by India Ratings & Research (Fitch Group). The short term issuer rating has been affirmed “A1+”.

The upgrade in Outlook reflects the credit rating agency’s expectation of an improvement in the business profile of Sunteck due to acceleration in the already consolidating residential real estate market, with the pandemic-related disruptions having constrained demand and supply from unorganised real estate developers. The outlook upgrade is also supported by the resilient operating performance of Sunteck despite the pandemic. The price point diversity across completed, ongoing and new project launches, prudent financial policies, strong credit metrics and cashflow visibility also provided conviction to the outlook upgrade.

Commenting on the same, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “This affirmation of ‘AA-’ credit rating with upgrade in outlook to ‘Positive’ by India Ratings is a reflection of our continued focus on prudent cash flow management along with financial discipline. Strong operating cash flows has aided us in the further reduction of our already negligible debt. We intend to maintain this discipline going forward and focus on financial flexibility to grow our business. Our ongoing focus on execution driven by our strong in-house construction capabilities will continue to generate sustained cash flows for us. The availability of inventory across our brands and pricing spectrum creates flexibility to offer projects based on needs of various customer segments. With a strong uptick on sales front across our portfolio of projects, especially in the mid-income and aspirational segments, we remain confident of emerging as one of the biggest beneficiaries of the ongoing consolidation in the industry basis our balance sheet strength, established track record and operational cash flow visibility.”

Business World, News

RailTel shares close 29% up amidst market sell-off

Feb 27, 2021 by Rekha Nair 0 Comments #Chairman and Managing Director, #Mr. PuneetChawla, #RailTel Corporation Of India

Chennai: RailTel Corporation of India Limited (“RailTel”), one of the largest neutral telecom infrastructure providers in the country,listed on the exchanges at a11.27% premium over its issue price. The shares of the company on trading closure settled at Rs121.40 per share on BSE and Rs120.60 per share on NSE.The shares touched a high of Rs. 125.50 with a premium of 33.51.% on BSE and Rs 127.85 with a premium of 36.01% on NSE.

As per BSE, the total quantity traded stood at 1,58,51,574 shares with a delivery quantity percentage of 22.99%. Quantity traded and delivery quantity percentage at NSE was 12,03,65,893 shares and 30.57 % respectively. Total Turnover (BSE+NSE) on Day 1 stood at Rs. 13,62,17,467.

The Market Capitalization of the Company post today’s closing price stood at Rs. 3,896.19 crores as per BSE data.

The issue had received approximately 23,79,717 applications for the IPO which is second highest, after IRFC, amongst the Railway PSU category.

The initial public offering, whose IPO closed on February 18, 2021, was offered at a lower price band of Rs93and higher price band of Rs94 per equity share and found a great response from all investor categories to be overall subscribed over 42.42 times.

Speaking on the tremendous response garnered on the listing day, Mr. PuneetChawla, Chairman and Managing Director, RailTel Corporation Of India said, “We are overwhelmed with the response from the market. Listing at premium of 11.27% over the IPO price, particularly on a day when the market was down almost 2000 points,is very encouraging and we would make all our efforts to keep the investor confidence high.

ICICI Securities Limited, IDBI Capital Markets & Securities Limited and SBI Capital Markets Limitedwere the BRLMs to the Offer.

 

Business World, News

Dr. G.S.K. Velu appointed as new Chairman,FICCI Tamil Nadu State Council for the year 2021

Feb 1, 2021 by Rekha Nair 0 Comments #Chairman and Managing Director, #Dr. G.S.K. Velu, #Neuberg Diagnostics and Trivitron Healthcare

New Delhi: Renowned healthcare entrepreneur, Dr. G.S.K. Velu has been appointed as the Chairperson of Federation of Indian Chambers of Commerce and Industry (FICCI), Tamil Nadu State Council. Prior to this, he co-chaired the FICCI Tamil Nadu State Council.

Driven by the vision to make medical technology, expertise and quality healthcare available to all, Dr. Velu has been promoting high-value health technology and diagnostics offerings through his business initiatives. Currently, he isthe Chairman & Managing Director at Neuberg Diagnostics, a global pathology brand operating in India, UAE and South Africa; Chairman & Managing Director at Trivitron Healthcare, a prominent medical technology company; Mentor & Shareholder at Kauvery Group of Hospitals, a chain of multi-specialty Hospitals; Chairman at Maxivision Eye Hospitals, a national chain of eye care super-specialty hospitals; Founder & Director at Apollo White Dental & Apollo Dialysis; and Anchor Investor at Stakeboat Capital, a private equity fund. He is also the Honorary Consul to The Republic of Estonia in India, wherein the Honorary Consul jurisdiction states include Tamil Nadu, Kerala, Andhra Pradesh and Telangana.

Expressing gratitude and talking about his role, Dr. GSK Velu, Chairman and Managing Director, Neuberg Diagnostics and Trivitron Healthcare said, “I am thankful for FICCI’s vote of confidence in appointing me as the Chairperson of FICCI Tamil Nadu State Council. This position gives me an opportunity to work within the FICCI framework in meeting its objectives of industry growth at one level, and the nation’s growth at another. I look forward to engaging with industry leaders to foster an ecosystem of innovation and growth, and towards building consensus between the industry and the policymakers.”

With more than 33 years of experience in the healthcare and diagnostics industry, Dr. Velu’s contributions and prominence in the healthcare sector has been recognized and received globally. He has been bestowed with several awards and accolades which are a testimony to his hard work, dedication and, his vision of making access to affordable quality healthcare, a reality.

Business World

Pre-Budget quote- Manufacturing and Skill Development | Ingersoll Rand

Jan 23, 2021 by Neel Achary 0 Comments #Amar Kaul, #Chairman and Managing Director, #Ingersoll Rand India Limited.

By Amar Kaul, Chairman and Managing Director, Ingersoll Rand India Limited.

“This year’s budget will have high expectations from every section of the society, especially given the adverse impact of the Covid-19 pandemic. While pick up of activity in India’s manufacturing sector towards end of 2020 offers some respite highlighting how both the government and businesses are working in tandem to get the growth back to normal, we still have a long way to go.

Embracing digital transformation and enhancing critical data skills of the entire workforce is helping companies to gain competitive advantage. The upcoming budget can prove to be a game changer for Skill development, given that we are constantly talking about talent crunch in new-age skills across top and bottom of the pyramid. Budget focus towards new-age skills will address educational and societal shortfalls of the country’s youth with new-age technology and skills which are market-relevant today.”

News

Sunteck Realty Limited announces Operational Update for Q3FY21

Jan 12, 2021 by Rekha Nair 0 Comments #Chairman and Managing Director, #Mr. Kamal Khetan, #Sunteck Realty Ltd.

Hyderabad/Mumbai: Sunteck Realty Limited, Mumbai’s premium real estate developer, announced its Q3 and 9M FY20-21 operational updates.

Rs cr
Operational Data Q3FY21 Q2FY21 QoQ % Q3FY20 YoY % 9MFY21 9MFY20 YoY %
Pre-sales (new bookings) 349 200 75% 325 7% 650 613 6%
Collections 252 141 79% 166 52% 458 540 (15%)

SRL saw a robust growth in Pre-sales for Q3 FY21 at Rs 349 crore; it was up by 75% QoQ and by 7% YoY as well. Collections also grew at 79% QoQ to Rs 252 crore for Q3 FY21 and by 52% YoY.

As the operations resume post lockdown, the Company has continued its strong sales momentum, supported by its ready-to-move-in, nearing-ready inventory as well as newly launched projects. With the construction activity returning to pre-COVID levels, the Company remains focused on accelerating the project progress across the portfolio to offset the time lost on account of the ongoing pandemic. SRL recently launched the second tower at SunteckCity 4th Avenue, ODC and received a tremendous response due to its esteemed brand lineage, differentiated product offering in the micro markets and commitment for the superior customer experience.

Commenting on the Q3 FY21 performance, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “Our customer-first approach has underpinned our continued strong performance. Our superior product offering coupled with strong customer servicing through out the life-cycle of our patrons has won us the brand loyalty we command in the market today. A combination of favorable factors such as the reduced stamp duty and low interest rates is expediting the home-purchase decision. We are observing a trend of increased demand and renewed buyer interest for high quality products, especially those with strong balance sheet and high brand recall. With project execution ramping up, the collections across our projects has been sequentially growing and we remain confident to maintain this strong trend.”

“Given the current socio-economic market dynamics, our continued focus on prudent cash flow management along with low debt ratios and financial flexibility have ensured our balance sheet strength on a sustained basis. We continue to focus on delivery driven by our strong in-house construction capabilities, which in turn will continue to generate sustained cash flows for us. The availability of inventory across our brands and pricing spectrum creates flexibility to offer projects based on needs of various customer segments. We believe, home buyers will continue to look for credible projects of reputed and financially strong real estate developers, as the pedigree of a trusted brand drives the preference for a new home buyer” he added.

News

As supply shortages hinder its ability to meet burgeoning global demand, bicycle sector demands Govt. support

Jan 7, 2021 by Rekha Nair 0 Comments #a Hero Motors Company, #Chairman and Managing Director, #HMC, #Mr Pankaj M Munjal

New Delhi: With supply shortages and component crunch hindering the Indian bicycle sector’s ability to meet the burgeoning demand for bicycles and e-bikes, Hero Cycles have sought active support from the Government for ensuring uninterrupted supply and help for the sector in localising hi-end component manufacturing.

The COVID 19 pandemic has triggered a major demand surge for bicycles and e-bikes across the world including in India as people look for safer, personalised and eco-friendly transport options. However, shortage of raw material and components has meant that bicycle manufacturers are struggling to fulfill the surging demand.

The supply chain disruption in the aftermath of the pandemic, restrictions on Chinese imports and the freight train obstruction in Punjab have resulted in a severe shortage of raw materials and inputs for the bicycle sector.

“While on the one hand, we are witnessing a surging demand for bicycles and e-bikes; on the other hand shortage of raw material and components is turning out to be a major hurdle for all bicycle manufacturers in India. This has resulted in increased waiting times for customers, particularly for high-end bicycles. In this situation, we urge the Government to provide active support to the bicycle sector to be able to overcome these challenges. Firstly, we need all freight train movement to Punjab to resume completely allowing us access to raw materials. Secondly, the bicycle sector needs Government support in localising component manufacturing and reducing dependence on foreign supplies particularly from China,” said Mr. Pankaj M Munjal, Chairman and Managing Director, HMC, a Hero Motors Company.

The COVID 19 pandemic has not only jolted the world economy but has also brought about some long-lasting changes to our lives. As millions of people across the world sought to stay away from public transport and continue their workouts without going to gyms, bicycles emerged as a viable solution. Certain categories of bicycles particularly recreation and fitness bikes witnessed an almost 100 percent jump in demand.

Estimates suggest that India imports bicycle parts worth over USD 70 million annually. In recent years, India’s bicycle industry has come to rely heavily on China for imports of components and high-end parts. The COVID crisis has underlined the importance of sustainability in business and effective backend integration. Diversifying supply lines and establishing a strong localised component manufacturing sector is a top priority for the bicycle industry in the current climate.

“The Government must support this endeavour initially through fiscal and non-fiscal measures until the sector develops robust manufacturing capacity of its own. A favourable duty structure and support for R&D and innovation is key. The government must also create a conducive and business-friendly environment and ensure ease of starting and conducting business to attract global component manufacturers to establish facilities in India” added Mr. Munjal.

Manufacturers today are working consciously to reduce dependence on Chinese imports. With a lot of mechanical and electrical components for bicycle and e-bicycles currently non-available in India, the sector requires aggressive R&D and innovation to be able to engineer these parts and ‘Make in India’ with indigenous manufacturing capability.

Hero Cycles has taken the lead towards achieving robust backward integration. It is also working aggressively to localise e-bike manufacturing including components in the country over the next few years.

Business World

Kimaye, India’s largest fruit exporter launches its traceability program

Sep 3, 2020 by Gouri Achary 0 Comments #Chairman and Managing Director, #dynamic QR code sticker, #INI Farms, #Mr. Pankaj Khandelwal, #origin traceability feature

Mumbai, 03rd September 2020 – INI Farms, India’s leading farm to fork ag-tech fruit brand company has introduced origin traceability feature for all its fruits in the international and domestic market under the technology program called “FruitRoute”. Every fruit under the brand Kimaye (India’s largest global fruit brand) can now be traced back to its source by scanning the dynamic QR code on it.

Each fruit will have a dynamic QR code sticker which consumers can scan with their smartphones, allowing them to track the product from farm to table. The feature provides farmer-level traceability to the end-consumer, enabling them to know where and who has grown the fruit. The feature will provide footprint data of the journey of each fruit from pre-harvest till market shelf. Post-Covid, there is huge awareness amongst the consumers regarding food safety and hygiene but no way to know which fruit is safe and which is not. Now, the consumers get 100% assurance. The technology developed is very powerful and In future, customers will also be able to virtually interact with the farmer, opening up possibilities for two-way communication.

Speaking on the launch of the new feature, Mr. Pankaj Khandelwal, Chairman and Managing Director, INI Farms said “Consumers have become more conscious about food safety, safe and hygienic handling, and use of sustainable farming methods such as drip irrigation. The traceability feature is the transparent mechanism to share sustainable and ethical agriculture practices of our farmers. With the traceability feature, consumers not only are able to trace back the fruit, all parts of the supply chain can track a fruit’s journey and address issues that may have arisen. For INI Farms, quality and safety of the fruit has always been the priority. Enabling consumers and distribution partners to ‘view’ the journey adds to the assurance of quality and safety that is the core promise of Kimaye.”

This feature is currently available for Pomegranates, Arils and Coconut. Bananas will carry the QR Code on the fruit from December onwards. The traceability feature also creates operational efficiency by reaching the source of any problem within 2 hours.

INI Farms operates large scale farm-level operations, managing and controlling the process right from growing to supplying the fruit across the world, and in the domestic markets directly to retailers. The company ensures that its farmers meet the most stringent global environmental and health norms by following global Good Agricultural Practices and saving millions of litres of water by having 100% of plantations with drip irrigation system.

INI Farms follows the most stringent global environmental and health norms such as Global G.A.P, by controlling use of pesticides and chemicals, making it among the most reliable and consistent suppliers of good quality bananas and pomegranates from India.

Business World

RITES Q1FY21 Revenue at `379 crore, PAT at `65 crore

Aug 11, 2020 by Gouri Achary 0 Comments #Chairman and Managing Director, #Mr. Rajeev Mehrotra, #RITES Limited, #RITES Q1FY21 Revenue

Chennai, 11th August 2020: RITES Ltd. (NSE: RITES, BSE: 541556), the leading Transport Infrastructure Consultancy and Engineering firm, reported its standalone and consolidated financial results for the quarter ended on 30th June 2020.

Highlights For Q1FY21 Standalone Financials

  • Total revenue stands at 366 crores against 553 crores in Q1FY20
  • EBITDA stands at 111 crores with a margin of 30.4% against 151 crores in Q1FY20
  • Profit after tax stands at 60 crores with a margin of 16.4% against 93 crores in Q1FY20
  • Revenue and profits got impacted due to pandemic induced disruptions and fewer exports scheduled for this period.

Highlights for Q1FY21 Consolidated Financials

  • Total revenue stands at 379 crore against 573 crore in Q1FY20
  • EBITDA stands at 121 crore with a margin of 31.9% against 167 crore in Q1FY20
  • Profit After Taxes stands at 65 crore with a margin of 17.1% against 102 crore in Q1FY20

Commenting on the results, Mr. Rajeev Mehrotra, Chairman and Managing Director, RITES Limited said, “Despite pandemic conditions, the results of the company for the quarter are satisfactory. We quickly resumed operations at various locations which enabled us to maintain revenue streams and margins.”

Revenue and Profit for Q1FY21

Standalone
RITES total standalone revenue has decreased by 33.9% to `366 crore on account of less exports scheduled for the quarter and impact of restrictions & supply chain disruptions due to pandemic. Similarly, operating revenue, excluding other income, stands at `323 crore in Q1FY21 against `519 crore in Q1FY20. EBITDA and PAT stood at `94 crore and `60 crore against `151 crore and `93 crore, respectively, in Q1FY20. After making adjustment for one-time expenditure on CSR of `9.92 crore and donations (PM-CARES Fund) of `7 crore, EBITDA and PAT stand at `111 crore and `75 crore, respectively, with improved margins of 30.4% and 20.6% against 27.3% and 16.8% in Q1FY20, respectively. Margins were sustained as a result of remote working during lockdown, quick resumption of most of the operations and implementation of cost control measures.

Consolidated

RITES total consolidated revenue has decreased to `379 crore as against `573 crore in Q1FY20. Similarly, operating revenue, excluding other income, stands at `335 crore in Q1FY21 as against `538 crore in Q1FY20. EBITDA and PAT stand at `104 crore and `65 crore against `167 crore and `102 crore, respectively, in Q1FY20. After making adjustment for one-time expenditure on CSR of `10.15 crore and donations of `7 crore, EBITDA and PAT stand at `121 crore and `80 crore, respectively, with improved margins of 31.9% and 21.1% against 29.1% and 17.9% in Q1FY20, respectively.

Performance of standalone segments

Consultancy business continued to provide the highest revenue to the company and achieved a revenue of `185 crore, down by 20.7% over Q1FY20. But, the margins in the consultancy segment were maintained at 44.3%. During this period, in addition to securing more than 60 new projects/contracts including the enhanced scope of work, RITES Ltd signed an MOU with Coal India for providing railway infrastructure technical services for 5 years.

Leasing revenue stands at `24 crore in Q1FY21 as against `29 crore in Q1FY20. The decline was due to suspension of work at certain sites, ports etc. during the lockdown.

Exports revenue during the Q1FY21 stands at `0.5 crore against `129 crore in Q1FY20 as no exports were lined up for Q1FY21. The company has entered into cape gauge markets by securing a contract from Mozambique for export of locomotives and coaches, for which supplies are likely to start in H2 FY21. H2FY21 will also see the export of coaches and DEMUs to Sri Lanka.

Turnkey revenue during Q1FY21 stands at `114 crore against `128 crore in Q1FY20 but we were able to sustain the margins of 4.5%. During this period we have been shortlisted for allotment of work by Indian Railways for railway electrification, civil works, signalling & telecommunication etc. on competition basis among PSUs, for which we will be submitting financial bids by mid of August 2020.

Outlook

Commenting on the outlook, Mr. Mehrotra said, “Despite tough times, we continued to focus on the inclusive growth of the company and our stakeholders. The slowdown in economic activity, supply chain disruptions and travel restrictions impacted the business performance in the first quarter of FY21, however, the financial health of the company remains strong. The company is set to regain momentum with further easing of the restrictions. Based on the existing order book of `6157 crore and expecting recovery in the business environment in H2, the company may achieve moderate growth in the financial year 2020-21 with optimism about the long-term business outlook.”

Business World

Trivitron responds to PM Modi’s call for ‘Atmanirbhar Bharat’ to provide indigenous COVID-19 testing kits globally

Aug 10, 2020 by Gouri Achary 0 Comments #Atmanirbhar (self-reliant) Bharat., #Chairman and Managing Director, #COVID-19, #Dr. GSK Velu, #Trivitron Healthcare, #Vocal for Local’

New Delhi –August 10, 2020: In the global uncertainty of COVID-19, healthcare industry leader- Trivitron Healthcare, counts for the continuity of services & solutions for COVID-19. Responding to the honourable Prime Minister Modi’s call for ‘Vocal for Local’, Trivitron Healthcare as a leading domestic health technology company, is pleased to announce the launch of a full suite of indigenously developed COVID-19 Testing products, as the organization’s contribution towards Atmanirbhar (self-reliant) Bharat.

Trivitron Healthcare offers a comprehensive range of ICMR approved COVID-19 solutions including RT-PCR Tests (COVIDsure&COVIDsure Pro), RNA Extraction kits (RNAsure), Viral Transport Media (ViSure), Total Antibody ELISA Test (COVIDscreen Plus) and ELISA IgG (COVID Kavach IgG) testing kits for Covid-19.

Realizing the enormous need of testing kits in the domestic market, to address this, the organization has indigenously designed & developed and had started large scale manufacturing for COVID-19 RT‑PCR test kits, RNA Extraction kits, Viral Transport Media, ELISA Antibody Tests, and will soon be launching Rapid POC Tests as well, for the Indian market. Trivitron is committed to manufacturer cost-effective and globally-accepted high-quality kits, and other COVID-19 solutions.

“We have been focused on making world-class Made-in-India medical technology solutions for domestic and global markets. The current situation of COVID-19 pandemic demanded innovation in developing indigenous and economical testing kits for the Indian market and we have responded to this. We have a complete range of COVID testing portfolio which will enable scaling up of current testing needs of the Indian & International Healthcare Ecosystem.’’ said, Dr. GSK Velu, Chairman and Managing Director, Trivitron Healthcare.

Trivitron has been tracking the alarming spread of COVID-19 since the world media started reporting its devastating impact on China. Trivitron as a torchbearer of the ‘Make in India’ initiative and supporting the leadership’s call for a self-reliant nation, has decided to accelerate and enhance products and countermeasures to combat the spread of COVID‑19 in India.

By March 2020, efforts were upscaled to indigenously create required solutions, without losing time, within the given constraints and available resources, at Trivitron’s state-of-the-art facilities – Trivitron Medical Technology Park, Chennai, and AMTZ, Vishakhapatnam. As a result of this approach, Trivitron is the only Indian organization that is ready with a complete portfolio of indigenously developed technologies which can be utilized for combating COVID-19 and to fulfil the low-cost testing needs for the country, and with indigenously manufactured Comprehensive COVID-19 testing solutions, ensuring the best suppliers across the world.