Tag: Chairman & Managing Director

Aptus Value Housing Finance India Limited -FY 22 Results

Chennai: May 2022: Aptus Value Housing Finance India Ltd, a leading Housing Finance Company in South India has declared its financial results for the quarter and year ended on 31st March 2022.

Key Performance Metrics for FY22

 

Particulars (Rs. Cr) FY22 FY21 Y-o-Y
Disbursements 1,641 1,298 26%
AUM 5,180 4,067 27%
PAT 370 267 39%
Gross NPA (%) 1.19(*) 0.70 Increase by 49 bps
ROA (%) 8.00 7.37 Increase by 63 bps

(*) – As per RBI circular dated 12 Nov 2021

Performance Highlights

• Return on Assets (ROA) is at 8.00%
• Return on Equity (ROE) is at 14.45%
• Net worth of over Rs.2,900 crores
• Diversified borrowings – from NHB, DFIs like IFC, large financial institutions and banks
• Network of 208 branches as on 31 March 2022

Commenting on the results, Mr. M Anandan, Chairman & Managing Director, Aptus Value Housing Finance India Limited, said,“During FY 22, we disbursed Rs. 1,641 crores registering a growth of 26% year on year. We have built a strong branch network of 208 branches to deliver quality service to our customers. The Company is well capitalised with a net worth of over Rs. 2,900 crores. As on March 31, 2022, we have maintained a sufficient on balance sheet liquidity of Rs. 846 crores including undrawn sanctions in the form of cash and cash equivalents.

We continued to grow consistently and delivered an AUM growth of 27% Year on Year. PAT has grown at 39% and our ROA was at 8.00% which is one of the best in the Industry. Gross NPA was at 1.19% as on 31 March 2022.

Our rating was upgraded to AA- from A+ by ICRA during the year.

WardWizard continues with strong sales momentum of electric two-wheelers in October 2021

New Delhi: Riding on the high demand for its electric scooters and motorcycles, WardWizard Innovations and Mobility Ltd (BSE Code: 538970) – one of the country’s leading manufacturers of electric two-wheelers brand ‘Joy e-bike’ continued in achieving robust sales numbers in October 2021 as well.

As this festival season bring in the much-awaited festive cheer resulting in high demand in the market, the company has sold 2,855 units of electric scooters and motorcycles, registering a growth of 502% compared to October 2020, where sales stood at 474 units.

The company has further observed the double- digit growth of more than 13% as compared to last month (September 2021) where sales stood at 2500 units.

Commenting on the sturdy sales performance, Mr Yatin Gupte, Chairman & Managing Director, WardWizard Innovations and Mobility Ltd, said, “While our new automatic assembly line at Vadodara manufacturing plant is helping us meet the inflating demand, our ‘Joy E-Bike’ experience centres across several locations are reinvigorating our marketing strategies to help us target more potential customers. This festival season has brought festive cheers across the country; we are receiving additional orders at all our touch points. We are further confident of high retail sales in the first week of November, especially on the occasions like Dhanteras and Diwali, achieving another benchmark in our sales momentum.”

Key Highlights of October 2021
Sales Milestone Records highest ever sales of 2,500 units in September 2021
Network Expansion ·         Inaugurated Exclusive company owned ‘Joy E-Bike’ experience center in Pune, Maharashtra

·         Plans to open 3 more exclusive experience centers in Maharashtra in near future

Q2 FY’22 Results ·         HIGHEST ever PAT at Rs. 1.61 crore in Q2FY’22 vs 27.98 lakh in Q2 FY’21.

·         More than 5k units of electric scooters and motorcycles sold in Q2FY’22 vs 664 units in Q2 FY’21

·         More than 5k units of electric scooters and motorcycles sold in Q2FY’22 vs 664 units in Q2 FY’21

 

 

Cosmo films ltd. Elevates Pankaj Poddar as the group CEO

New Delhi: Cosmo Films Ltd. today announced the appointment of Mr. Pankaj Poddar as the Group CEO to head the newly launched and fast growing consumer business ZIGLY alongside trade verticals including Films, Labelling & Packaging, Specialty Chemicals, Ferrites, Masterbatches and Textile Chemicals. The development came into effect immediately and in recognition of the growth the company witnessed under Mr. Poddar’s leadership as CEO of the business.

With a career spanning over 26 years, Mr. Pankaj Poddar has held key leadership positions in the company across business units and verticals. As the Chief Financial Officer at Cosmo Films Ltd. in 2011, Pankaj was responsible for managing the financial operations in India as well as overseas. Since his appointment as the CEO in the year 2013 all verticals of Cosmo has witnessed year-on-year growth.

Speaking of the appointment, Mr. Ashok Jaipuria, Chairman & Managing Director, Cosmo Films Ltd. said, “Pankaj’s contribution is immense for the success of Cosmo as is visible in the last few years. R&D, Sales & Marketing competencies, expanded product range and focus on Speciality films have led to the achievement of record EBITDA and an all time high market capitalization. Pankaj has also played a key role in ensuring diversification from the Films business into Ferrites, Speciality Chemicals and Zigly. All of these will make a significant addition to all the parameters of the company – topline, bottomline and market valuations. He is a great asset to Cosmo with his focus, drive and implementation bringing in benefits to the company and its stakeholders.”

Commenting on his appointment, Mr. Pankaj Poddar said, “I am delighted to be elevated as the Group CEO. At this point of time Cosmo Films Ltd. is at the pivotal state of its growth with diversification into different sectors. Being a global leader in the films and packaging sector, we aim to be the preferred brand for Specialty Chemicals, Ferrites, Polymers & Pet care.”

Pankaj started his career with a 7-year stint at Ernst and Young before joining Reckitt Benckiser, Delphi Automotive and Avon Beauty in senior financial positions. He is a regular speaker at various packaging industry forums and sits on the board of the Organization of Plastic Processors of India, Plast India and IFCA.

SJVN Bagged 1000 MW Solar Power Project – A Big Leap

SHIMLA: SJVN bagged 1000 MW Grid connected Solar PV Power Project through Request for Proposal (RFP) floated by Indian Renewable Energy Development Agency Limited (IREDA). Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN informed that the Company bagged the Project through Open Competitive Bidding Process for quoted capacity of 1000 MW at the maximum tariff of INR 2.45 per unit.

Sh. Sharma told that SJVN bagged the full quoted capacity of 1000 MW at a Viability Gap Funding (VGF) support of INR 44.72 Lakh per MW by the Government of India. The Power generated from the above Projects shall be solely for self-use or use by Government/Government entities, either directly or through DISCOMS.

Sh. Sharma further said that SJVN participated in a VGF based competitive Bidding Process for Solar Project of capacity 5000 MW floated by IREDA.

He further informed that the tentative cost of the Construction and Development of this Project is INR 5500 Crores. The project is expected to generate 2365 MU in the first year and the project cumulative energy generation over a period of 25 years would be about 55062 MU.

Sh Sharma said that presently, SJVN has a total Installed Capacity of 2016.5 MW which includes 2 Hydro Power Plants of 1912 MW and 4 Renewable Power Plants of 104.5 MW (Two Solar Plant of 6.9 MW and 2 Wind Plants of 97.6 MW). Earlier, SJVN has bagged three Solar Projects totalling 345 MW in the State of Gujarat, Uttar Pradesh and Bihar. All these Solar Projects have also been bagged through Open Competitive Bidding.

Sh. Nand Lal Sharma further said that, with this allotment, SJVN now has 1345 MW of Solar Projects under execution. He stated that all these Solar Projects are scheduled to be commissioned by March 2023-24, which shall be a gigantic leap for SJVN’s Renewable Capacity.

Government of India has envisaged the vision of Power to All 24X7 and has set a target of 175 GW of Renewables, out of which 100 GW is to be met through Solar by 2022. In September last year at the United Nations Climate Action Summit, Hon’ble Prime Minister Sh. Narendra Modi had announced increasing the renewable energy target to 450 GW by 2030 from 175 GW by 2022. He informed that Union Minister of Power & NRE, Sh. R.K. Singh is extending great guidance & support to all power sector PSUs to go aggressively in harnessing of Solar Power potential to achieve goal of 24X7 affordable and green power. In line with the target set by the Government of India, SJVN has set its Shared Vision of capacity addition of 5000 MW by 2023, 12000 MW by 2030 & 25000 MW by 2040.

Viability Gap Funding (VGF) means a one-time grant or deferred grant, provided to support infrastructure projects that are economically justified but fall short of financial viability.

World Bank financed Assam Agri-Business and Rural Transformation Project (APART) Gives Crop Cutting Experiments (CCE) Mandate to Agritech Leads Connect

NOIDA, Uttar Pradesh, India: The Government of Assam (GoA) for its World Bank backed project, Assam Agribusiness and Rural Transformation Project (APART) has given the Crop Cutting Experiments (CCE) mandate to Noida based Agri-tech company, Leads Connect. The agritech will conduct the CCE in 23 districts of the Assam state, on pilot basis.

APART was launched in the year 2018 by the Government of Assam through Government of India and received huge funds from World Bank to uplift the agricultural sector of the state and encourage farmers to use technology to increase the production.

On being appointed, Mr. Navneet Ravikar, Chairman & Managing Director, Leads Connect Services Private Limited informed that “getting a mandate to conduct CCE for different zones of Assam is a huge achievement for us an organization, and we are very excited and prepared to deliver the project successfully”.

He further added, “that it is now indispensable to develop measures and frameworks for climate resilient agriculture for addressing the issues of food insecurity. Therefore, the need of using advance technology such as geospatial technology and artificial intelligence along with comprehensive field observations, are important. Performing these studies with sheer accuracy and precision, are keys, in providing people centric solutions besides necessity of upscaling developed solutions. So, the research unit of organization will also be utilizing this opportunity to further their research and development activities for developing quality products, in the context of climate resilient agriculture and disaster management, as these aspects are now needed to be studied in sync.”

Leads Connect, with its cutting-edge technologies such as Remote Sensing and GIS, Numerical Modeling, artificial intelligence (AI) and data analytics frameworks, will co-observe the CCEs conducted by state Government of Assam. This pilot study will start from September 2021 and will be done for Kharif 2021. Currently, the agritech is engaged in delivering projects in more than 100 districts of India and has Pan-India presence backed by comprehensive presence of field team and well-equipped research lab.

 

SJVN’s five Projects generated record 1580 MU in July 2021

Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN during his visit to 1500 MW Nathpa Jhakri Hydro Power Station and 412 MW Rampur Hydro Power Station inspected the operational activities of these projects. He stated that he is fully satisfied with the operational performance and informed that SJVN has set record of Power Generation from all its generating units including renewable projects in the month of July 2021 with 1580 MU surpassing the previous record of 1563 MU in July 2020. In FY 2021, against total Design Energy of 8700 Million Units, of its five Power Stations comprising of two Hydro Power Stations in Himachal Pradesh, two Wind Power Stations and one Solar Power Station in Maharashtra and Gujarat it has established a new benchmark of generating 9224 million units of energy.

Chairing Review Meeting attended by Heads of Power Stations of NJHPS & RHPS, Sh. Sharma stated that the combined Team efforts of the officials manning Operation and Maintenance of both the ‘Flagship Power Stations’ have enabled the Company to carve out new milestones in Power Generation. Sh. Sharma stated that SJVN operates all of its Power Stations, with the highest level of competence of International Standards. In-depth monitoring of Systems with Micro planning has enabled the mega Power Stations of SJVN to consistently exceed the Design Energy and highest machine availability. On 02nd August 2021, NJHPS has generated highest Single Day generation of 39.397 MU and in July 2021 it registered highest monthly generation of 1216.565 MU. Likewise, Rampur Hydro Power Station also clocked in highest monthly power generation of 335.9057 MU in July 2021.

Sharing the future plans of SJVN, Sh. Sharma stated that the Company has chartered blueprint of its journey which is manifested in its ‘Shared Vision’ i.e 5000 MW by 2023, 12000 MW by 2030 and 25000 MW by 2040. He said that SJVN is executing 27 Projects in Hydro, Thermal, Solar and Wind sector in India, Nepal & Bhutan in which 06 are under operation, 08 are under construction and 13 projects are under Survey & Investigation. Expanding the horizon of its business vertical in Renewable Energy, SJVN has been entrusted with the responsibility of expeditious development of 880 MW Solar Park in Kaza in Spiti Valley by Government of Himachal Pradesh.

During his visit to 1500 MW NJHPS, Sh. Nand Lal Sharma inaugurated Physiotherapy Centre at Project Hospital, Jhakri. On the occasion Sh Sharma stated SJVN has always been conscious of its social obligations toward betterment of the people living in the vicinity of its projects and in NJHPS an expenditure of Rs 6877.17 lakhs has been incurred till date for developmental and welfare activities for the people.

Sh. N L Sharma, CMD, SJVN felicitated Sh. R K Singh, Hon’ble Union Minister of Power & NRE

SHIMLA:Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN felicitated Sh. Raj Kumar Singh on his elevation as Cabinet Minister in Union Government for Power and New & Renewable Energy (NRE) today at New Delhi. Sh. Sharma apprised Hon’ble Minister about the progress of various Projects of SJVN in India, Nepal and Bhutan.

During the interaction the Hon’ble Minister expressed happiness on the progress of activities carried out by SJVN in different Projects. He further emphasized that, we have to achieve the target of 24X7 Power for All set by Hon’ble Prime Minister well before the schedule while ensuring that the benefits of power and energy sector reach the common man.

Sh. Nand Lal Sharma assured that SJVN is committed to fulfil the vision of Hon’ble Prime Minister under the able guidance of Hon’ble Union Power Minister.

Sh. Nand Lal Sharma also met and congratulated Sh. Krishan Pal Gurjar for assuming the charge of Minister of State for Power & Heavy Industries. Sh. Sharma informed Hon’ble Minister about SJVN and its ongoing projects in India & Abroad.

Tunnel Excavation work of SJVN’s Naitwar Mori HEP Completed

SHIMLA: Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN triggered the last blast to mark the completion of heading excavation of 4.3-kilometer-long Head Race Tunnel of 60 MW Naitwar Mori Hydro Electric Project in Uttarakhand. Naitwar Mori Hydro Electric Project has the potential to generate 265.5 million units of electricity every year and State of Uttarakhand will get 12% free Power as a Royalty.

He also inaugurated the newly constructed Office Complex, Transit Camp and Township ‘Yamuna Parisar’ at project site.

Shri Sharma inspected project sites and reviewed various components of the project which included Head Race Tunnel, Barrage, Powerhouse, Surge Shaft and 220 KV Transmission Line. He conveyed his satisfaction on the progress of all major components of the Project.

Addressing the employees, Shri Nand Lal Sharma, said, “We are glad to inaugurate the office complex with all the amenities for the upcoming Naitwar Mori HEP of SJVN. The project would further accelerate the Government of India’s commitment of providing Round the Clock (RTC) Energy to our nation and will also lead to achievement of Shared vision of SJVN, for becoming a 25000 MW Company by 2040. Timely completion of the Project as well as the welfare of the employees are the hallmarks of SJVN’s commitment.”

He further encouraged the employees to work with dedicated hard work and keep up the pace for completing the Project within scheduled time. He urged all the SJVN employees and representatives of the contractors to strictly follow safety protocols and Covid Appropriate Behaviors.

SJVN is constructing its own Transmission Line of about 37 kms for transmission of electricity generated from the Project which is targeted to be completed by April 2022.

Commissioning of the Project will benefit the Area and particularly Project Affected Families as they will be provided an amount equivalent to the cost of 100 units of electricity per month for 10 years. SJVN is also taking up various development works in the vicinity of the Project towards under Corporate Social Responsibility (CSR).

Netsurf Network forays into Indian Fish Farming Sector

Netsurf Network, one of the leading direct selling companies in India, establishes its presence in organic fish farming or sustainable aquaculture sector with three ingeniously designed products for Freshwater farming under its flagship brand for organic farming called ‘Biofit’.

Enriched with natural water resources and river networks enable India to hold the 2nd position in the world for inland/freshwater fish farmed production and Aquaculture farming.

However, the conventional fish farming practices in India included using chemical-based pesticides, antibiotics, and hormones which in turn have an adverse impact on human health. It also contributes to the issues such as environmental degradation, aquatic pollution, and the destruction of fish habitats. While organic fish farming or sustainable aquaculture practices ensure that we produce healthy, disease-free natural fish food without the use of antibiotics, hormones, and chemicals.

Sujit Jain, Chairman & Managing Director, Netsurf Network said, “It is the need of the hour to bring about a change in the conventional fish farming practices in India to protect the health of the fish consumers and to boost the fish production and to protect our environment. Being early movers in the ‘organic’ fish farming or ‘sustainable’ aquaculture sector, we strive to bring about healthy produce and at the same time safeguard our environment.”

Biofit Aqua (a product of DSIR – Govt of India Approved R&D Lab) is an exclusive range of products for Inland /freshwater fish farming & sustainable aquaculture. It’s a range of 3 products crafted to nourish & improve the health of fish, improves the water and aquatic plants quality, and also improves the pond water conditions for the survival of fish. The Biofit Aqua products work best for fish, shrimp, prawns, and crab and do not contain any chemicals, pesticides, antibiotic, or hormones.

The Product Range:

  1. Biofit Aqua Feed Concentrate: It’s a balanced growth supplement concentrate powder with proteins, amino acids, fats, vitamins, minerals, enzymes, and probiotics for the healthy development of fish. The high absorption of nutrients helps to enhance the growth and survival rate of the fish.
  2. Biofit Aqua Culture is a microbial consortium of probiotics bacteria. It works in two ways. Firstly, it helps to rapidly degrade excess and waste organic matter in the pond and improves the water quality. It also helps to improve the pond hygienic for better productivity; removes existing algae; prevents new growth and reduces the noxious odor caused by algae, fish waste, and leaves. Secondly, when consumed by the fish it creates a healthy gut flora in fish, shrimp, prawns, and crab.
  3. Biofit Aqua Clear: It helps to stabilize the physical-chemical parameters of pond water; stabilize the total alkalinity; maintains the optimum pH level and increases the dissolved oxygen levels in the pond for long periods for the survival of fish, shrimp, prawns, and crab. It removes toxic gases like Ammonia, H2S and Nitrites in pond water and works as a disinfectant by killing harmful pathogenic bacteria.

About Netsurf Network:
Netsurf, an indigenous Direct Selling- FMCG company headquartered in Pune, plays a pivotal role in the direct selling industry operating in India. Netsurf has a strong base of 2.5 million consumers with more than 3.5 lac distributors joining in every year. Netsurf’s direct selling network is spread across 628 districts in India with more than 60 quality FMCG products in its kitty. The products are divided into 5 different ranges i.e. Naturamore in Health & Wellness (consumed by 3.5 Lac families), Herbs & More in Personal Care (consumed by 2.5 Lac households), Biofit in Organic Farming (used by more than a million farmers), Rang De in Herbal Cosmetics & Clean & More in Home Care. All these products are demand-driven and they target specific requirements in the day-to-day life of the consumers.

RSWM Limited recognised by the Government of Rajasthan for the Highest Export Turnover in textiles

Bhilwara/New Delhi, 15th April 2021: RSWM Limited, the flagship company of the $1.2 Bn LNJ Bhilwara Group and the leading manufacturer of textiles in India today announced that the company has been recognised for achieving the Highest Export Turnover in 2020 by the Ministry of Industries & CSR, Government of Rajasthan. RSWM Limited is listed on both NSE and BSE.

Mr Riju Jhunjhunwala, Chairman & Managing Director, RSWM Limited said, “I would like to congratulate the team of RSWM for achieving the highest export in textiles. Our continuous efforts of achieving excellence have been recognised by the Government of Rajasthan and we would like to thank them for the same. This reaffirms our resolve to the growth of the company, its stakeholders, employees and our commitment not only towards the state of Rajasthan but also the economy of the country.”

RSWM Limited is one of the largest manufacturers and exporters of synthetic and blended spun yarns from India and exports to 78 countries. The Company has 10 state of the art manufacturing plants, 4,41,000 spindles, 10,000 (MT/annum) Cotton fibre dyeing capacity, 4,000 (MT/annum) Yarn dyeing capacity and denim manufacturing capacity of 25 million metres annually.