Friday, January 18, 2019

Tata Motors Receives BS6 Compliance Certification for Tata 3.8L NA SGI CNG Engine


In the run-up to its BS6 preparations, Tata Motors has announced that it has received BS6 Type Approval certificate for its 3.8L NA SGI CNG engine from ARAI (Automotive Research Association of India). It is the first OEM in India to achieve BS6 certification for a naturally aspirated CNG engine for commercial vehicles. This certification includes meeting the tailpipe mass emissions as well as compliance to On-Board Diagnostics (OBD) norms as mandated by government regulation. With this success, Tata Motors continues to stay on its path of offering environment friendly products in India.

Speaking on the occasion Rajendra Petkar, Chief Technology Officer (CTO), Tata Motors said, “This BS6 engine certification milestone has been achieved with intense design and development focus, by leveraging in-house capabilities and those of our technology partners. We have worked hard to build a leadership position in the market by providing our customers with economical, best-in-class natural gas vehicle products in the commercial vehicle market and this development of BS6 solution will further re-inforce our market offering.”

The 3.8 NA SGI CNG engine is a naturally aspirated engine i.e. it does not need a turbocharger. It produces a maximum power of 85 Ps @ 2500 RPM with a torque of 285 Nm @ 2500 RPM. This combustion occurs at stoichiometric conditions in this engine. This engine comes with sequential gas injection technology, pioneered by Tata Motors in India. Exhaust after-treatment system featuring three-way catalytic converter reduces pollutants below limits mandated by regulation.

The 3.8 NA SGI CNG engine will power 4T to 9T GVW buses and trucks such as 407, 709 and 909 (existing BS4 versions), which are already very popular models in the market, with the best-in-class fuel efficiency. Truck applications include water tankers too.

BS6 norms will come into force in India from 1st April, 2020. The upgradation from BSIV to BSVI is a complex engineering, a challenge that demands not only pushing the technological advancements to the limits, but also calls for a turnaround of the infrastructure and facilities required for this development, which is highly capital intensive in nature with long lead execution periods. As part of our continued pursuit in our turnaround journey, a state of the art "Emission Test Facility" has been installed at the Power Systems Engineering Division (PSE), in ERC, Pune. This facility serves as one of the crucial milestones for BS6 implementation.

Tata Motors has been consistently working towards upgrading its engines and vehicles to meet the required BSVI emission norms and is committed to bring environment friendly products to market.

Constant Currency Revenue Growth Up 6.1% QoQ and 20.6% YoY; Net Profit Jumps 32.8% YoY for LTI Q3 FY19


Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a global technology consulting and digital solutions company, announced its Q3 FY19 results today.

In US Dollars:

Revenue at USD 346.9 million; growth of 5.6% QoQ and 18.2% YoY
Constant Currency Revenue growth of 6.1% QoQ and 20.6% YoY

In Indian Rupees:

Revenue at Rs 24,729 million; growth of 6.1% QoQ and 31.3% YoY
Net Income at Rs 3,755 million; growth of (6.2%) QoQ and 32.8% YoY

“We are pleased to deliver another strong quarter with 5.6% QoQ growth in USD revenues. Our broad-based revenue growth, superior margin delivery and steady cash generation in Q3 is a testimony of our focused execution and client centricity.

We are also thrilled to welcome Ruletronics to LTI family. Ruletronics enables businesses to transform and evolve digitally by providing innovative BPM and CRM solutions leveraging Pega Platform.”

- Sanjay Jalona, Chief Executive Officer & Managing Director, LTI

Recent Deal Wins

-          Nets, the leading payments company in the Nordic region has chosen LTI as its primary IT partner post vendor consolidation 

-          World leader in vertical transportation has chosen LTI as its strategic partner for implementing Microsoft Dynamics 365 as their core platform to transform their services business in the areas of Sales, Call Center and Field Services

-          Selected by a Global Fintech Company to provide agile assurance support for building an industry leading wealth management platform

-          Global Energy Corporation engaged LTI for deployment of Enterprise historian and enable integration with business applications

-          Selected by a diversified Energy Manufacturing company for its ERP transformation

-          Global Life Sciences Major, a new client logo has awarded LTI a multi-year strategic deal for end to end SAP support, maintenance, analytics and enhancement

-          Awarded Digital Transformation project by an Apex Advisory Body in the field of Education

-          Leading manufacturer of cleaning equipment chose LTI as a partner for its global CRM journey on Force.com

-          Petrochemical Major chose LTI for multiple engagements in order to prepare itself for S/4HANA migration

-          Awarded Cybersecurity project by a Global Energy Giant to implement, configure and integrate Micro Focus ArcSight and Splunk Enterprise Security

Client Testimonial

“Nets has selected LTI as its primary IT partner for its close alignment to Nets’ vision, investments in Nordic region and customer centricity.

As the primary partner of Nets, LTI will be responsible for 100+ additional critical applications focused on Digital operations, Card and Payment platforms, SAP / Oracle ecosystem, Blockchain based services, Customer service, e-commerce payments, and corporate services.”

-          Ms. Pia Jørgensen, Group Executive Vice President (Technology) and Group CIO, NETS A/S

Awards and Recognitions

-          LTI is now a Global Strategic Service Partner (GSSP) of SAP, making it one of the Top 16 partners of SAP, globally

-          Emerged as Major Contender and Star Performer in Everest Group Digital Services PEAK Matrix™ Assessment 2019

-          Recognized as "Rising Star" in Security Services: ISG Provider Lens Cyber Security Services and Solutions: US

-          Recognized in Leadership Zone in Zinnov Zones 2018 for IoT Technology Services

-          Named as a Major Player in IDC MarketScape: Worldwide DevOps Services 2018 Vendor Assessment

-          Named by the 4Q18 Global ISG Index™ as one of The Breakthrough 15 in Global Sourcing Standouts

Other Business Highlights

-          LTI appointed Nachiket Deshpande as its Chief Operating Officer. He brings rich experience in technology and IT industry and last served as the Senior Vice President & Global Delivery Head for the Banking and Financial Services unit at Cognizant Technology Solutions.

-          LTI collaborated with ACORD to develop a comprehensive set of digital standards & solutions for the Insurance industry.

BMA Commemorates 65 Years by Launching a Slew of New Initiatives


Established in 1954, the Bombay Management Association popularly known by the acronym BMA; is one of India’s leading managerial communities striving for managerial excellence in business and corporate management. BMA has trained over 1.5 lakh managers who have had a dynamic impact on the Indian corporate scene. Skilled for success and instilled with the highest standards of managerial ethics, their combined achievements have resulted in the BMA being awarded the ‘Best Local Management Award’ by the All India Management Association 7 times since its inception. To commemorate the 65 years of BMA, it has come up with a slew of new initiatives which include two key programs namely – ‘The 10X Scale-Up Conclave’ and ‘Innothon’.

Speaking on the occasion Dr Murtuza H. Khorakiwala, President, BMA; Managing Director, Wockhardt Ltd said “The 10X Conclave by BMA will be an intra-industry effort to support entrepreneurial innovation in India. The daylong session will be moderated with a vision to connect Indian entrepreneurs to a supportive ecosystem of customers, funding partners and mentors.” Adding to this Mr Rakesh Kumar Mehra, Chairman, 10X Scale Conclave and Group Advisor, Bulk MRO said; “The conclave is a pioneering thought by BMA designed for companies ranging from start-ups to SMEs seeking to grow, buy and raise further capital in their journey to large scale success.”

The conclave which is set to take place on 25th January 2019 will be attended more than 300 delegates from corporate and start-ups operating across the country. It will also feature prominent speakers from diversified sectors from the Indian corporate industry, including eminent scientist, Dr Raghunath Anant Mashelkar, Nandan Nilekani, Jaideep Mehta, Rahul Mirchandani, R Narayanan, Ashish Vidyarthi amongst others. One of the major highlights of the conclave is the India launch of R Gopalakrishnan’s book ‘CRASH: lessons from the entry and exit of CEOs’

BMA also announced the launch of Innothon, a new industry connect platform. Rajesh Sharma, Chairman, Innothon and Chief Facilitator, Aquilla Resource Partner said; “The BMA has envisioned INNOTHON, which will act as a unique platform to crowdsource ideas for resolving critical issues facing the organisation or for charting ways to help the organisation keep ahead of the competition. Young brains from Management Institutes will collaborate with managers and leaders from the industry to provide sustainable solutions for business problems.” The Innothon presentations to the jury will take place on 18th & 19th Jan 2019 and the winners will be declared on 21st Feb 2019.

E A Vimal Nathan, Executive Director, BMA said “We at the BMA are always focused on finding innovative ways of managing complex challenges faced by organisations today. We felt that the10X Scale-Up Conclave and Innothon are the perfect platforms for entrepreneurs and budding managers in the country. We plan to come out with many more such initiatives in the near future which will support the organisations and aid the managerial development in the country.”

Tokio Marine & Nichido Fire Insurance Dubai Branch Upgrades to 3i Infotech’s PREMIA 11 to Accelerate Business


3i Infotech Limited helped enhance Tokio Marine & Nichido Fire Insurance Co., Ltd.’s (TMNF) Dubai branch’s rapidly growing business. The company upgraded to 3i Infotech’s PREMIA 11, as they needed a comprehensive system with end-to-end integrated solution which could provide quick processing to the customer, avoid manual intervention in day-to-day operations, improve operational efficiency with higher quality, faster time to market, reusability and data storage.

TMNFs Dubai branch had dependency with third party system to do any changes on the tariff logic, which was one of the biggest problem faced by them while using PREMIA 9. Apart from this, they didn’t have a proper Document Management System, Business Intelligence technology, fixed assets & budget modules and integrated workflow systems. With up gradation to PREMIA 11, problem areas of the IT system, as mentioned above, have been addressed with new features and functionalities, in addition to existing PREMIA 9 functionalities.

The major advantages of this upgraded version are seamless integration of underwriting claims, reinsurance and finance with reporting. It also reduces printing costs of the Company, as the system can send documents via email instead of manual print-outs. In PREMIA 11, the claims module is redesigned to meet the Company’s complex business requirements with improved processes. along with the integrated workflow system which helps in reducing the Company’s costs.

Highlighting the advantages of shifting to PREMIA 11, Hiroki Sasai, General Manager, TMNF Dubai branch said, “The web-based PREMIA   11 directly supports several of the corporate goals and objectives established by the Company’s IT Department and Management. With its real-time and accurate reporting of all client enquiries and administrative metrics, it has helped our business in creating and maintaining an efficient workflow. We have an intricate business structure, but 3i Infotech was able to grasp the business very quickly due to their experience in the insurance industry.”

“We have developed a marine policy admin which has made TMNF Dubai branch’s complex business into seamless operational model. It has also been integrated with the third-party application for the issuance of certificate. However, the control, validation and tariff logics are derived from the core PREMIA system which has benefited them, from the control and audit perspective,” said Rakesh Doshi, EVP & Business Head, Financial Services & Insurance, 3i Infotech Ltd.

PREMIA 11 provides an end-to-end solution along with the add-on features like user authorization, tariff level setup for premium logic for marine & other LOBs, risk/fleet upload, copy policy, DMS, validation, customized reporting format, online posting of accounting which benefits customer with quick turnaround time.

KEI Expects Robus Growth on Rising Demand for House Wires and Cables


India’s leading house and power cable manufacturer, KEI Industries Ltd. has announced that it expects to grow 35%-40% in the house wire and cable segment during the next financial year.

Riding on robust and healthy earnings for the quarter ended September 2018, the company hopes to drive on its house wires and cables segment during this fiscal period.

The company’s Q2 sales in house wire segment grew Rs. 209 Cr in current FY19 in comparison to Rs. 131 Cr in the corresponding period of last financial year.

Similarly, its sales during H1- FY19 were reported at Rs. 389 Cr. from Rs. 236 Cr.  Further, its sales during the H1 in the house wire swelled 64.83% over the last financial year.

Anil Gupta, Chairman cum Managing Director- KEI Industries Ltd. said: “Our Company has registered a phenomenal growth in retail sales business in FY’18-19 till now. Last year it was around Rs 1086 crore and with more demand coming from the users, we are hopeful to exceed 40% in next two years. We also expect a potential growth in our house wire segment. With the new affordable housing schemes coming up and with a rise in the real estate business as the demand actual buyers for personal and official use is increasing, this has helped us to scale-up with this growing demand for house wires. KEI’s house wires also contribute to government’s vision for affordable housing as these products are being used by many developers under affordable housing schemes”.

The company is optimistic about its growing market in house wires and cables as they are energy efficient and meet the highest-level of safety for domestic and commercial usage. These cables are for the use of wiring domestic and commercial buildings. With over 1300 dealers pan India, the company’s retail sales have grown to almost 33% of their turnover in terms of its total sales.

The company in the house wires segment offers Homecab-FR which stands synonymous to safety. These cables are used for wiring domestic and commercial buildings. These cables are of utmost quality in electrical and mechanical properties along with being accredited with global standards. A fine-drawn multi strand conductor provides enhanced flexibility and makes it ideal for concealed wiring. It is suitable for installation in lighting fittings and appliances up to 1100 v (A.C). The product has higher flexibility and ensures easy handling while guaranteeing a much longer life thus attracting a new generation of real estate developers.

Thursday, January 17, 2019

Mindtree Net Profit Grows 35% to Rs 191 Crore in Quarter III of 2018


Mid-sized IT firm Mindtree on Wednesday said its consolidated net profit for the December 2018 quarter grew 35.1% to Rs 191.2 crore and exuded confidence that its January-March numbers will be better than the just-concluded quarter.

Mindtree had registered a net profit of Rs 141.5 crore in the October-December 2017.

Its revenue grew 29.7% to Rs 1,787.2 crore in the December 2018 quarter from Rs 1,377.7 crore in the year-ago period.

“Our consulting first approach combined with deep technology and domain expertise are helping our clients drive enterprise-wide transformations...this has also helped the company sustain its growth momentum, even in a seasonally weak quarter,” Mindtree Chief Executive Officer and Managing Director Rostow Ravanan told reporters on a concall.

He added that the company continues to invest in people to further strengthen its ability to create sustainable value for all stakeholders.

The Bengaluru-based company has been in the spotlight over speculations of promoters being under pressure to sell their stakes.

The management, however, skirted questions on the issue saying it remains committed to delivering growth for the company but there are some matters which are not under its control.  According to reports, one of Mindtree’s largest investors and Café Coffee Day (CCD) founder, V G Siddhartha, and two of his firms are expected to sell their stakes.

The reports said the promoters are now under pressure to either sell a part of their holdings to the buyer, along with Siddhartha, or allowing the buyer to purchase shares from the market and force an open offer to gain control in Mindtree.

 In the December 2018 quarter, Mindtree had 340 active clients. Its headcount stood at 19,908 people with trailing 12-month attrition at 13.4%.

Mindtree said its digital business in the quarter under review grew by 32.4% year-on-year.

New Global Alliance Commits Over $1.0 Billion USD to Help End Plastic Waste in the Environment


An alliance of global companies from the plastics and consumer goods value chain today launched a new organization to advance solutions to eliminate plastic waste in the environment, especially in the ocean.

The cross value chain Alliance to End Plastic Waste (AEPW), currently made up of nearly thirty member companies, has committed over $1.0 billion with the goal of investing $1.5 billion over the next five years to help end plastic waste in the environment. The Alliance will develop and bring to scale solutions that will minimize and manage plastic waste and promote solutions for used plastics by helping to enable a circular economy. The Alliance membership represents global companies and located throughout North and South America, Europe, Asia, Southeast Asia, Africa, and the Middle East.

“Everyone agrees that plastic waste does not belong in our oceans or anywhere in the environment. This is a complex and serious global challenge that calls for swift action and strong leadership. This new alliance is the most comprehensive effort to date to end plastic waste in the environment,” said David Taylor, Chairman of the Board, President and CEO of Procter & Gamble, and chairman of the AEPW. “I urge all companies, big and small and from all regions and sectors, to join us,” he added.

“History has shown us that collective action and partnerships between industry, governments and NGOs can deliver innovative solutions to a global challenge like this,” said Bob Patel, CEO of LyondellBasell, and a vice chairman of the AEPW. “The issue of plastic waste is seen and felt all over the world. It must be addressed and we believe the time for action is now.”

The Alliance is a not-for-profit organization that includes companies that make, use, sell, process, collect, and recycle plastics. This includes chemical and plastic manufacturers, consumer goods companies, retailers, converters, and waste management companies, also known as the plastics value chain. The Alliance has been working with the World Business Council for Sustainable Development as a founding strategic partner. The Alliance today also announced an initial set of projects and collaborations that reflect a range of solutions to help end plastic waste:

·         Partnering with cities to design integrated waste management systems in large urban areas where infrastructure is lacking, especially those along rivers which transport vast amounts of unmanaged plastic waste from land to the ocean. This work will include engaging local governments and stakeholders, and generate economically sustainable and replicable models that can be applied across multiple cities and regions. The Alliance will pursue partnerships with cities located in high plastic leakage areas. The Alliance will also be looking to collaborate with other programs working with cities, such as Project STOP, which is working in Indonesia.

·         Funding The Incubator Network by Circulate Capital to develop and promote technologies, business models and entrepreneurs that prevent ocean plastic waste and improve waste management and recycling, with the intention of creating a pipeline of projects for investment, with an initial focus on Southeast Asia.

·         Developing an open source, science-based global information project to support waste management projects globally with reliable data collection, metrics, standards, and methodologies to help governments, companies, and investors focus on and accelerate actions to stop plastic waste from entering the environment. The Alliance will explore opportunities to partner with leading academic institutions and other organizations already involved in similar types of data collection.

·         Creating a capacity building collaboration with intergovernmental organizations such as the United Nations to conduct joint workshops and trainings for government officials and community-based leaders to help them identify and pursue the most effective and locally-relevant solutions in the highest priority areas.

·         Supporting Renew Oceans to aid localized investment and engagement. The program is designed to capture plastic waste before it reaches the ocean from the ten major rivers shown to carry the vast majority of land-based waste to the ocean. The initial work will support the Renew Ganga project, which has also received support from the National Geographic Society.

In the months ahead, the Alliance will make additional investments and drive progress in four key areas:

·         Infrastructure development to collect and manage waste and increase recycling;

·         Innovation to advance and scale new technologies that make recycling and recovering plastics easier and create value from all post-use plastics;

·         Education and engagement of governments, businesses, and communities to mobilize action; and,

·         Clean up of concentrated areas of plastic waste already in the environment, particularly the major conduits of waste, like rivers, that carry land-based plastic waste to the sea. 

 “Success will require collaboration and coordinated efforts across many sectors – some that create near-term progress and others that require major investments with longer timelines. Addressing plastic waste in the environment and developing a circular economy of plastics requires the participation of everyone across the entire value chain and the long term commitment of businesses, governments, and communities. No one country, company or community can solve this on their own,” said Veolia CEO Antoine Frérot, a vice chairman of the AEPW.

Research from the Ocean Conservancy shows that nearly 80 percent of plastic waste in the ocean begins as litter on land, the vast majority of which travels to the sea by rivers. In fact one study estimates that over 90 percent of river borne plastic in the ocean comes from 10 major rivers around the world – eight in Asia, and two in Africa. Sixty percent of plastic waste in the ocean can be sourced to five countries in Southeast Asia.

“While our effort will be global, the Alliance can have the greatest impact on the problem by focusing on the parts of the world where the challenge is greatest; and by sharing solutions and best practices so that these efforts can be amplified and scaled-up around the world”, said Peter Bakker, President and CEO of World Business Council for Sustainable Development.

The following companies are the founding members of the Alliance: BASF, Berry Global, Braskem, Chevron Phillips Chemical Company LLC, Clariant, Covestro, Dow, DSM, ExxonMobil, Formosa Plastics Corporation USA, Henkel, LyondellBasell, Mitsubishi Chemical Holdings, Mitsui Chemicals, NOVA Chemicals, OxyChem, PolyOne, Procter & Gamble, Reliance Industries, SABIC, Sasol, SUEZ, Shell, SCG Chemicals, Sumitomo Chemical, Total, Veolia, and Versalis (Eni). From India, Reliance Industries has taken charge to advance efforts towards sustainable future.

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