Working Class in Bengaluru Deeply Affected by Diabetes: Metropolis Healthcare Study

* Data analysis of over 2,36,381 samples tested from Jan 2019 to Aug 2020

* Almost 21% of the total diabetic samples were found to have unsatisfactory control

Diabetes prevalence has increased by 64 percent across India over the quarter-century, according to a November 2017 report by the Indian Council for Medical Research, Institute for Health Metrics and Evaluation, both research institutes, and the Public Health Foundation of India, an advocacy.A data analysis by diagnostic chain Metropolis Healthcare, one of the largest chains of pathology labs in India proves that Bengaluru is fast becoming the diabetes capital of the country.

Out of the total of 2,36,381samples tested for Diabetesfrom Jan 2019 to Aug 2020in our Bengalurulab, as many as 18 percent were found to be suffering from poorly controlled diabetes.

The incidence of poorly controlled diabetes was found to be the highest (17 per cent of the sample) in the age group of 30-40 years, followed by 40-50 years (about 16 per cent) and 20-30 years (16 per cent).

Currently, one in every four people under 25 has adult-onset diabetes, a condition more usually seen in the age group 40-50-year, according to the Indian Council of Medical Research.

Inactivity and the excessive consumption of high-calorie foods, increase diabetes’ risk factors. For this reason, diabetes is often classed as a ‘lifestyle disease’ and is found in higher numbers among the young age group of 20-30. As per reports, 72 million cases of Diabetes were recorded in the year 2017.

The growth of availability of fast food which is relatively cheaper than healthy food is most preferred among the office-goers. With more and more options opening up every day, the figure is expected to double by the year 2025.

The incidence was the lowest in the age group 80 years and above (8 per cent), but increased steadily to peak in the age group of 30-40 years.

Men are more prone to diabetes, as the survey showed that 25per cent of all males tested were found to suffer from unsatisfactorily controlled diabetescompared to 23 per cent for females.

Out of the samples tested at the company's Bengaluru laboratory, almost 25 per cent were found to have unsatisfactory control be in the diabetic stage in the age group of 40-80, while almost 80,000 samples tested showed as non-diabetic.

Commenting on the study, Dr Ravi Kumar, Chief of Laboratory, Metropolis Healthcare Ltd said"Diabetes strikes Indians a decade earlier than the world. It is a growing challenge in India with an estimated 8.7 per cent diabetic population in the age group of 20 and 70 years. The rising prevalence of diabetes and other non-communicable diseases is driven by a combination of factors - rapid urbanisation, sedentary lifestyles, unhealthy diets, uncontrolled use of alcohol and tobacco. Lifestyle interventions (sleep, exercise and diet modifications) along with regular monitoring is a must for Diabetes Management."

About Diabetes and its parameters: HbA1c refers to glycated haemoglobin, which develops when haemoglobin, a protein within red blood cells that carries oxygen throughout the body, combines with glucose in the blood.  Diabetes patients have increased blood glucose, leading to the increase in HbA1c level.  If unchecked, diabetes patients can cause serious health issues like heart diseases, kidney & nerve damage.

HbA1c test helps to detect diabetes or pre-diabetes in early stage of diabetes. Pre-diabetes is the early stage where your blood sugar levels portray the risk of you getting diabetes.

Your doctor would recommend this test for you if you have symptoms of diabetes like:

1.       Increased thirst

2.       Frequent Urination

3.       Blurred Vision

4.       Tiredness

Garware Polyester Standalone Q2 PBT at ₹61.30 Cr, Registers 69.6 % Growth in Q2 in FY21

Garware Polyester Ltd. (GPL), the flagship company of the Garware Group and a leading player in specialty Polyester Films in India declared its results for the quarter ending sept 30, 2020 on November 10th,2020.

Highlights for Standalone Q2 FY’21 (July-September’20)

* Total Revenue – ₹254.15 Crore, a growth of 6% over the corresponding quarter in the previous fiscal

* Earnings Before Interest, Tax, Depreciation, & Amortization (EBITDA) for the quarter stood at ₹ 72.22 cr (vs ₹44.91 Cr in Q2 FY’20) reflecting 28.4% EBITDA margin.

* Net Profit for the period after tax at ₹39.38 Cr (vs ₹23.28 Cr in Q2 FY’20)

* Earning per share (EPS) at ₹16.95, up by 69% over the corresponding quarter in FY 2019-20

Total expenses as at September 30, 2020 is ₹192.85 Cr, down by 5.3% over the quarter ended September 30, 2019. Operating EBITDA has increased by 111% from ₹34.23 Cr (Q1, FY 2020-21) to ₹72.22 Cr. The company reported PBT of ₹61.30 Cr for the quarter ended compared to ₹36.14 Cr for the quarter ended September 30, 2019. Consolidated Total income and PAT stood at ₹252.07 Cr and ₹37.76 Cr respectively for the quarter.

Commenting on the results, Mr. S.B. Garware, Chairman and Managing Director, GPL, said, “We are extremely satisfied with our strong second-quarter performance. Consistent improvement in our operating metrics reflects our relentless rigor of execution, which has resulted in PBDT Margin reaching 26.4% in quarter 2 FY21. We have invested out of planned investments to the tune of ₹47.78 crore as on 30th sept 2020. Our focus now is on growth in this fiscal and beyond. We see a strong and secure future for the organization given this growth approach.”

About Garware Polyester Limited

Garware Polyester Ltd. (BOM: 500655) is the flagship company of the Garware Group co-promoted by the Chairman and Managing Director Mr. S.B. Garware in the year 1957 along with the Founder-Chairman Late Padmabhushan Dr. Bhalchandra Garware. The company makes Specialty Performance Polyester Films in India and has its State-of-the-Art manufacturing facilities at Aurangabad in Maharashtra, India. GPL is the pioneer and largest exporter of Polyester Films in India and the winner of top exporters’ awards for continuous 25 years from PLEXCOUNCIL.

Garware Polyester Ltd.’s (GPL) manufacturing facility in Aurangabad is vertically integrated, from manufacture of polyester chips to the finished product of polyester films with four independent manufacturing lines and a business that spans the globe.  Polyester Films are used for variety of end-applications such as PET Shrink films for Label application, Low Oligomer PET films for insulation of hermetically sealed compressors motors, Electric motor insulation and cable insulation, sequin application films, TV and LCD screen application, Packaging applications etc. Garware Polyester Ltd is also the market Leader and India’s only manufacturer of Sun Control window films for Building, safety and auto applications. The company has facilities for manufacturing various coated products and co-extruded products for specialty application, apart from its capacity to design the recipe for raw material of PET films to suit the end application of the product.  The company has also developed surface-protection films designed to deliver the highest level of protection and impact resistance which has applications in many sectors.

Dettol & WeWork Come Together to Enable a ‘Safe and Hygienic’ Workplace Across Indian Market

* Dettol, WeWork Safe Program will facilitate a thriving work environment for the members and employees of WeWork India

* Marks the first phase of a new initiative to deliver industry-defining standard of cleanliness and disinfection of WeWork spaces in India

* Disinfection process will be conducted by the leading Dettol hygiene products which have demonstrated effectiveness against 2019 Novel Coronavirus (COVID-19)

* The in-progress changes will include additional deep-cleaning of high-touch surfaces, individual hygiene kits for members & employees as well as "last cleaned" charts and further social distancing practices

Dettol, the leading germ protection brand, today announced its partnership with WeWork India, the global platform for creators that provides collaborative workplace solutions. The partnership will help create a hygienic and safe workplace for the members and employees. Adhering to the ‘new normal’, the partnership program will enable & develop enhanced cleaning and sanitizing protocols for all members and employees across all WeWork spaces, with the use of Dettol products -  proven effective against 2019 Novel Coronavirus (COVID-19) strain.

Research by Global monitor indicates that consumers have heightened hygiene concerns when venturing outside the comfort of their house, and trust in cleanliness standards will be critical to restarting any business. Therefore, it has become highly essential for industries to implement an effective system to ensure standardized hygiene practices protect oneself and others from this pandemic.

Facilitating the future of work amidst the ‘new normal’, the partnership program will enable & develop enhanced cleaning and sanitizing protocols for WeWork members and employees across all 34 spaces operating in 6 cities across the country.

Commenting on the partnership, Pankaj Duhan, Chief Marketing Officer, RB Health South Asia, said, “Even as the lockdown conditions get progressively eased, the Indian consumers’ concern on exposure to germs and desire for protective measures remains very high. As India’s #1 trusted brand for germ protection, Dettol is pleased to partner with WeWork for a safe return of employees to their workplaces. This partnership comes at a time when it is of utmost importance to drive the highest standard of hygiene and build consumer confidence as an when they plan to step outside of the comfort of their home.”

Commenting on the partnership, Vineet Singh, Group CMO - Embassy Group “At WeWork, the health and safety of our members, partners, and employees is our top priority. Over the past few months, our teams have been reviewing member feedback and working with industry partners across health and safety, cleaning, construction, and design to provide enhancements. Together, we have developed a plan for the future of the workplace which focuses on professional distancing, cleanliness, and proactive risk mitigation measures. We are proud to partner with Dettol to ensure that the best and most thorough standard of safety and sanitation is maintained at our workspaces.”

Over 80 years, Dettol has been the trusted partner of health, for millions of mothers worldwide to protect their family by preventing illnesses and infections. In the ongoing battle to contain the spread of COVID-19, Dettol has been instrumental in driving behavior change and the adoption of recommended hygiene practice across India. As a hygiene leader and No. 1 germ protection brand, Dettol continues to drive the organizational purpose and fight in action- to protect, heal, and nurture in the relentless pursuit of a cleaner, healthier world.

About RB:

RB* is driven by its purpose to protect, heal and nurture in a relentless pursuit of a cleaner, healthier world. We fight to make access to the highest-quality hygiene, wellness, and nourishment a right, not a privilege, for everyone.

RB is proud to have a stable of trusted household brands found in households in more than 190 countries. These include Enfamil, Nutramigen, Nurofen, Strepsils, Gaviscon, Mucinex, Durex, Scholl, Clearasil, Lysol, Dettol, Veet, Harpic, Cillit Bang, Mortein, Finish, Vanish, Calgon, Woolite, Air Wick and more. 20 million RB products a day are bought by consumers globally.

RB's passion to put consumers and people first, to seek out new opportunities, to strive for excellence in all that we do, and to build shared success with all our partners, while doing the right thing, always is what guides the work of our 40,000+ diverse and talented colleagues worldwide. 

Bigwigs Dropped, CERT-In Retains TAC Security in Empanellment List

The Indian Computer Emergency Response Team (CERT-In) has retained TAC security, a global leader in vulnerability management, as a trusted cybersecurity solution for the Indian government, banks, and other departments.

CERT-In-empanelled organizations recently assessed 90 information security companies to empanel with the government as cyber security auditors. The audit report resulted in the ousting of 57 cyber security companies, including industry bigwigs from the panel. The development reinstates TAC Security’s position as the top and a credible cybersecurity solution provider.

TAC Security has been providing cyber security solutions to various banks, insurance companies and more in India, it is also responsible for NPCI’s BHIM & UPI based application’s end to end security assessment since 2017.

TAC Security protects Fortune 500 companies and large enterprises through its innovative AI- and ML-driven vulnerability management platform. It safeguards websites and web-based applications with zero downtime to provide real-time security insights and solutions. The brand’s flagship Enterprise Security on One Framework (ESOF) platform has won laurels worldwide for securing governments and organizations from the advanced cyber threat landscape.

The brand is anticipating a huge demand from various government departments as their trusted cybersecurity solution provider. It is worth noting that TAC Security is the current cybersecurity partner for NPCI, NSDL, HDFC, Reliance and global government agencies across several countries including the US.

Speaking on the development, Trishneet Arora, Founder and CEO of TAC Security said, “We are confident in our approach and technology; we have remained responsible towards the digital growth of our country. TAC Security has retained the top position in the empanellment list, which is of the utmost importance for any cyber security company, especially when top companies couldn’t make it. Organizations working with previously empanelled companies have to move out and partner up with the current empanelled companies.”

About TAC Security:

TAC Security is a global leader in vulnerability management that protects Fortune 500 companies, leading enterprises, and governments around the world. TAC Security manages 5+ Million vulnerabilities through its Artificial intelligence (AI) based Vulnerability Management Platform ESOF (Enterprise Security in One Framework) Operates from Mumbai, Chandigarh, New York, Albuquerque & Bangalore.

Paytm Introduces “Payout Links for Businesses, Enables Instant Money Transfer Without Collecting Bank Details”

India’s home-grown digital financial services platform Paytm has launched “Payout Links for businesses, enabling them to instantly process payouts to customers, employees & vendors, without collecting their bank details. As businesses struggle with ever-growing numbers of manual financial processes, Payout Links offers seamless payment integration for businesses to quickly send incentives and refunds to customers through the easy and inexpensive method of a simple payout link. Removing the need to store thousands of bank details, the facility benefits partnered SMEs in diverse sectors such as gaming, e-commerce, retail, export and manufacturing, to transfer salaries, vendor payments, commissions and gratification instantly. 

Paytm Payout Links can be easily created and shared with customers, vendors & employees in one go. The receiver needs to simply open the link and is automatically provided a list of saved accounts such as Paytm Wallet, Paytm UPI and connected bank accounts, which can be chosen to receive money instantly. Since no other information is needed, the receiver is free from having to remember his bank details and the risk of human errors is effectively removed. Paytm Payout Links also enables the receiver to exercise greater control in choosing exactly which account to receive the funds in, as well as maintain the privacy of his bank details. Only a few clicks complete the entire process, accompanied by the highest level of security and the best success rate in the industry. The service is perfect for addressing the challenges of cash-on-delivery refunds, where businesses are not always privy to the banking details of customers and need to ensure that money is returned fast. 

Paytm spokesperson said,"Our objective is to empower businesses with a simple, seamless & automated process that helps in streamlining payments and help them with solutions that make business banking simple, flexible and efficient. This service helps businesses reduce cash transactions, maintain better records, avoid errors and delays. Paytm Payout Links is extremely user friendly, intuitive and is easy to integrate with the present operations of a company."

Paytm Payout is driven by powerful APIs on Paytm for Business Dashboard to make bulk payments to Bank Accounts, UPI addresses, and Paytm Wallets instantly. The facility helps businesses adopt an automated payment mechanism that saves their time, resources and operational costs, leading to increased business efficiency. The service has exponentially grown to process payments upwards of Rs.1660 crore per month, even as it remains the most reliable way to transfer money into the Paytm wallet, food wallet, gift voucher, and bank accounts of millions of beneficiaries. Major companies like Pidilite Industries, Schneider Electric and Havmor Icecreams Pvt Ltd are regular users of Paytm Payout.  

Raymond Witnesses Recovery in Consumer Demand Driven by Onset of Festive and Wedding Season

Raymond Limited today announced its unaudited financial results for the quarter ended September 30, 2020.

Performance Highlights

·         Progressive recovery witnessed on a month-on-month basis in 2QFY21. While July & August were impacted by local lockdowns, September witnessed recovery of secondary sales leading to improvement  in primary sales

·         Retail Operations:

o  Across our retail network, we are adhering to all COVID-19 related guidelines for employees & customers

o  Currently, consumer demand back to ~70% of PY level for TRS while EBO sales back to ~50% of PY level

o  Witnessing higher average ticket sizes and conversions as compared to previous year

o  Week-on-week improvement in secondary sales across channels continue

·         Continued Focus on Cost Rationalisation:

o  2QFY21 operating cost stood at Rs. 304 Crores, lower by 48% Y-o-Y basis

·         With focused working capital management and cost rationalization, debt level maintained

o   Net debt at Rs. 1,817 cr in Sep-20 vs. Rs. 1,827 cr in Jun-20 & 1,859 Cr in Mar-20

·         Liquidity maintained similar to June-20 & March-20 levels:

o  Cash & Cash Equivalents at Rs. 592 cr in Sep-20 vs. Rs. 596 cr in Jun-20 & Rs. 571 cr in Mar-20

o  Cash flow positive in 1HFY21: Cash Flow from Operations positive at Rs. 138 cr and Free Cash Flow positive at Rs. 32 cr

·         Engineering, Real Estate and FMCG businesses witnessing strong recovery

Commenting on the quarter performance, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “With consumer sentiments getting better on a sustained weekly basis, there is a rebound in consumer demand which is evident by increased footfalls in our retail stores. Our focused approach on cost optimization and operational efficiencies has helped us navigate through tough times and maintain both our liquidity and net debt levels. Our other businesses such as Engineering, FMCG and Real Estate are also getting back on track and showing positive signs of revival. As we move in the second half of the current financial year, I am hopeful that the economy will improve with tailwinds giving businesses the impetus for recovery.”

Segmental Performance:

Branded Textile & Branded Apparel

* With the onset of wedding and festive seasons, core business of Branded Textile witnessed good traction in September month in trade channels primarily driven by recovery in secondary sales

* Currently, we are witnessing 85-90% recovery levels in our TRS network in Tier IV-VI  markets largely driven by reverse migration, good harvest and lower COVID-19 impact

* Recovery in Branded Apparel business remained impacted with intermittent lockdowns delaying the opening of retail touch-points and malls. Additionally, we also exercised control on primary sales to channel partners. There was a higher contribution from online & clearance sales to realize cash as we continue to focus on working capital management and liquidity 

Garmenting segment recovered to ~80% levels in Q2 driven by exports to US & Europe markets and additionally sale of PPE products. EBITDA margins higher at 10.1% vs 5.3% in PY led by better product mix and cost optimization.

High Value Cotton Shirting segment performance impacted mainly due to weak domestic demand

Tools & Hardware segment back to previous year levels led by growth in domestic markets.

EBITDA margins improved to 15.2% vs 13.8% in PY mainly led by cost optimization

Auto segment recovery led by revival in demand from domestic markets and well supported by exports market. EBITDA margins improved to 20.7% vs 15.4% in PY mainly led by cost optimization.

Real Estate – Increase in physical customer visits, launch of bank subvention scheme along with stamp duty reduction and low home loan rates have helped overall demand in the market. We launched 7th tower in Aug-20. Overall, received 49 booking in Q2 resulting in total of 1,012 bookings (60%+ of total inventory of 1,688 units sold) till Sep’20 with booking value of ~Rs. 1,000 Crores.

About Raymond Limited

Raymond is India’s largest integrated worsted suiting manufacturer that offers end-to-end solutions for fabrics and garmenting. Over the years, Raymond has been synonymous with quality, innovation and market leadership. It has some of the leading brands within its portfolio – ‘Raymond Ready to Wear’, ‘Park Avenue’, ‘ColorPlus’, ‘Parx’, ‘Raymond Made to Measure’ amongst others. Raymond has one of the largest exclusive retail networks in the country with over 1,500 stores in more than 600 towns.

Raymond also has presence in FMCG sector through Raymond Consumer care that offers wide range of products in men’s personal grooming category and personal hygiene. The group also has presence in engineering and auto components across national and international markets. In 2019, Raymond has also forayed into the realty sector through the launch of its maiden project ‘aspirational district’ spread across 14 acres housing ~3,000 residential units.

Having enjoyed the patronage of over a billion consumers, Raymond as a brand has been consistently delivering world class quality products to its consumers over the past nine decades.

India Heads Out This Diwali; Beach Destinations and Interstate Road Trips Top Preferences: OYO’s Trends

* This Diwali, Jaipur, Kerala, Goa, Visakhapatnam and Varanasi top the charts as the most popular leisure destinations among travellers

* Delhiites and Lucknowites are heading on road trips to Jaipur, whereas Puneites, Bangaloreans and Hyderabadis are travelling to Goa

* Across South India, Kochi in Kerala has emerged as the most popular tourist hotspot, with most of the demand stemming from Chennai and Bangalore

2020 has been a surprising year - masks & gloves are a common sight, WFH a lifestyle, and virtual gatherings a part of the routine. However, as India gradually unlocks, more and more people are now ready to step out and explore domestic hidden gems, and thereby, turning the new normal into a way of life - while ensuring personal safety and hygiene. According to OYO Hotels & Homes, the world’s leading hospitality chain, after staying homebound for months on end, this Diwali, Indians are preferring inter-state road trips and beach destinations.

According to OYO’s Diwali booking trends*, Jaipur, Kerala, Goa, Visakhapatnam, and Varanasi top the charts as the most popular leisure destinations among travellers. The data further highlights Jaipur to be the most popular choice among travellers across North India, with an influx of tourists from nearby cities like Delhi NCR and Lucknow. Across South India, travellers from Chennai and Bangalore are heading out on road trips to Kochi in Kerala, the southwest coast of India. Goa, India’s beach capital, on the other hand, is attracting travellers from across the country. The majority of bookings are from Pune, followed by Bangalore and Hyderabad.

Commenting on this trend, Harshit Vyas, SVP & COO - Franchise Business, OYO India & South Asia, said, “The festive season combined with gradual unlocks has resulted in a surge in leisure travel since September 2020. As states open up their borders to welcome tourists, OYO and the entire hospitality industry, continue to offer safe experiences that lead to rising consumer confidence among travellers. As per our Diwali booking trends, with social distancing becoming a way of life and people opting for safer travel options, road trips are here to stay, therefore, leading to an increase in inter-state travel during Diwali and the upcoming holiday season this year. We expect leisure destinations to continue gaining momentum in the coming months with rising consumer optimism for travel. We would also like to express our gratitude towards our asset partners and all employees who have worked tirelessly to ensure that we stand ready to welcome travellers safely once again.”

Sharing his insights on the comeback of leisure travel, Yatish Jain, Head of Online Revenue and Marketing, South Asia - OYO Hotels & Homes said, “Rising optimism among travellers across India this holiday season is a welcome change for the tourism and hospitality ecosystem. As per our consumer use cases,  57% of respondents wish to travel for leisure, with approx. 61% respondents stating that they had already decided the destination for their coming vacation. This is a testament to the steady comeback of travel in the next few months, however, while doing so, 67% of these consumers are also seeking safe stays. Understanding that safety is the consumer’s topmost priority, we at OYO will continue our efforts to ensure safe and hygienic practices with our Contactless Check-ins and Sanitised Before Your Eyes initiatives. To further put things in perspective, as per our Diwali booking trends, we’re happy to share that, we’re witnessing the intent to book is at almost 100% levels as compared to Pre-Covid for consumers visiting on the OYO platform and the traffic is at over 50%. As more and more travellers are exploring local hidden gems resulting in a boost in domestic travel, we are keen to support this trend with our robust presence across 28 states and 8 UTs. As we move forward, we are confident that the current trend will continue with month-on-month growth in 2HFY21.”

As per the overall travel trends across India, between April 2020 and September 2020, observe an uptick in bookings across business destinations including Delhi, Bangalore, Hyderabad, Mumbai, and Kolkata. On the other hand, among leisure cities, OYO’s booking data also highlights that some cities like Shimla, Manali, Munnar, Ooty and Gangtok that didn’t enjoy high demand compared to other tourist hotspots during pre-COVID days are now increasingly showing positive signs of rising bookings since September 2020. In Shimla, OYO observed a whopping 280% month-on-month growth in bookings for September 2020. Additionally, according to OYO’s recent consumer survey, while there’s a surge in demand for leisure travel across the country, 80% of users are searching for sanitised stays, while 46% of users seek regulation related information while planning their next travel.

To ensure travellers have a safe and pleasant experience, OYO recently launched two initiatives with Sonu Sood, OYO’s asset owner and brand ambassador. ‘Sanitised Before Your Eyes’ is an on-request initiative through which OYO’s guests can request the hotel’s on-ground staff to sanitise high touch spots or frequently touched surfaces right in front of their eyes. The second initiative - ‘Contactless Check-in’ enables guests with a faster and safer digital check-in experience, wherever, whenever, thereby eliminates the need for physical contact on arrival.

About OYO Hotels & Homes:

Opening its doors in 2013, OYO Hotels & Homes, a young hotel startup, today is the world’s leading chain of hotels and homes. OYO today operates in over 800 cities in 80 countries, including the U.S., Europe, U.K., India, Middle East, Southeast Asia, and Japan.