JK Tyre’s Continues Resilient Performance In Q1FY22, Consolidated Revenues Up By 130%

Indian Tyre Industry major, JK Tyre & Industries Ltd. (JK Tyre) announced its unaudited results for first quarter of FY2021-22.

·  Revenues Rs.2618 crore up by 130%,

·  EBIDTA stood at Rs.289 crore, a significant increase on y-o-y basis,

·  PBT and PAT were recorded at Rs.75 crore and Rs.44 crore respectively,

Commenting on the results, Dr. Raghupati Singhania, Chairman and Managing Director (CMD), said, “The first quarter of this fiscal year started on a subdued note due to resurgence of second wave of the pandemic and lockdowns, which impacted demand. Despite these challenging market conditions, we achieved encouraging growth in revenues and profitability. With the rising input costs, operating margins were impacted. Nonetheless, we are taking judicious price increase across product categories. The company continued to focus on replacement and export sales. At the same time relationship with OEMs are being expanded and strengthened.”

“We expect improved market conditions, emanating from higher inoculation levels and sharp recovery in economic activities, which is likely to improve sale in both replacement and OEM segments. Going forward we are optimistic and expect a healthy growth of the industry.”

Dr. Singhania further added that, “the Company continues to give utmost primacy to the well-being and safety of its employees, business partners and society. In this direction, we have launched an initiative “JK Cares” program, to support the family of employees, who lost their lives during the pandemic on three fronts – financial, educational and health insurance.”

About JK Tyre & Industries Limited (CIN No. L67120RJ1951PLC045966)

The flagship company of JK Organisation, JK Tyre & Industries Ltd is amongst the top 25 manufacturers in the world. Pioneers of radial technology, the Company produced the first radial tyre in 1977 and is currently the market leader in Truck Bus Radial segment. The Company provides end-to-end solutions across segments of passenger vehicles, commercial vehicles, farming, Off-the-Road and two & three- wheelers.

A global force, JK Tyre is present in over 100 countries with over 180 Global distributors. The Company has 12 globally benchmarked ‘sustainable’ manufacturing facilities - 9 in India and 3 in Mexico – that collectively produce around 32 million tyres annually. The Company also has a strong network of over 6000 dealers and 650+ dedicated Brand shops called as Steel Wheels and Xpress Wheels.

JK Tyre’s unwavering commitment towards innovation is reflected through its state-of-the-art global research and technology centre – the Raghupati Singhania Centre of Excellence - in Mysore, which houses some of the world’s finest technologies and techniques.

JK Tyre launched India’s first ever ‘Smart Tyre’ technology-and introduced Tyre Pressure Monitoring Systems (TPMS) which monitors the tyre’s vital statistics, including pressure and temperature. The company recently rolled out its 20 millionth Truck/Bus Radial tyre becoming the first and the only Indian company to achieve this milestone.

It is the only Indian tyre manufacturer to be included in the list of Superbrands India in 2019 for the seventh consecutive year. JK Tyre has been conferred the Sword of Honour for Safety across its plants by the British Safety Council, UK. The company entered the Limca Book of Records with the country’s largest off-the-road tyre - VEM 04.

JK Tyre is also synonymous with motorsport in the country. For over three decades, the Company has relentlessly worked towards shaping India’s positioning as the motorsport hub of Asia, developing the right infrastructure for the sport and promoting young talent in the arena.

Indian Bank Signs MOU wWith NSRCEL- The Incubation Arm Of Indian Institute Of Management, Bangalore

Indian Bank entered into an MoU with NSRCEL- the incubation arm of Indian Institute of Management, Bangalore (IIMB) - for extending exclusive credit to Start-ups.

NSRCEL is known for bringing up start-ups, industry mentors and eminent academicians from the parent institution, IIM Bangalore and researchers who thrive on continuous interaction of theory and practice. IIMB also nurtures technology and knowledge-based ventures.

Start-ups require funding to expand and grow. One of the most common problems they face is maintaining a positive cash flow. Under the MOU, NSRCEL will identify Start-ups and MSMEs based on their credentials and past experience and will refer such members for financial assistance from the Bank.

This initiative is a part of the Bank’s scheme ‘Ind Spring Board’ which is exclusively tailored to finance Start-ups. This arrangement shall empower these units to realise their research efforts, powered by financial support from the Bank and backed by incubation facility offered by NSRCEL. The Bank will extend loans of up to Rs. 50 crores to these Start-ups for their working capital requirements or purchase of machinery, equipment etc., as the name goes, the initiative, which is mutually beneficial for both Bank and NSRCEL-IIMB, will be the spring board for start-ups to realise their ambitions.

Speaking on the occasion, Ms. Padmaja Chunduru, MD & CEO of Indian Bank highlighted the start-ups’ unique needs and requirement of suitable counselling and training for tapping equity and debt funding. To supplement this objective, Indian Bank also has MSME Prerana – a Business Mentoring Programme – in place to empower MSME entrepreneurs through skill development and capacity building workshops in local languages.

The MOU was signed by Shri Sudhakar Rao,(GM - MSME, Indian Bank) and Prof. Rishikesha T Krishnan (Director, IIMB), in the virtual presence of Ms Padmaja Chunduru. Shri. Sudhir Kumar Gupta, (FGM, Bangalore), Prof. Venkatesh Panchapagesan (Chairperson, NSRCEL) and other senior officials of Indian Bank and IIMB were also present on this occasion.

About Indian Bank

About Indian Bank Indian Bank is the seventh-largest public sector bank in India. Established in 1907 and headquartered in Chennai, the bank serves over 10 crore customers with 41,557 employees. With effect from 1st April 2020, Allahabad Bank got merged into Indian Bank. Indian Bank has pan India network with 20596 touch points including 6004 Brick & Mortar branches, 5428 ATMs/BNAs, 9161 Business Correspondents and 3 overseas branches.  

Blenders Pride Fashion Tour Unveils The Second Edition Of The Showcase In Collaboration With FDCI

* Industry stalwarts come together to redefine the fashion industry and create a holistic platform for aspiring talent

Blenders Pride Fashion Tour, a definitive voice in the fashion and design world unveils the second edition of The Showcase in collaboration with Fashion Design Council of India (FDCI), with the objective of nurturing talent and opening up a world of avenues. The Showcase has been conceived to become one of India's leading platform to discover talent across four categories fashion designers, shutterbugs, models and content creators. Charting a unique course, The Showcase will catapult the journey of the aspirants, giving them a platform to exhibit their creative expression with Pride.  Redefining their career path, the winning talent stand a chance to showcase their work in the next edition of Blenders Pride Fashion Tour.

The Showcase will witness the coming together of the biggest names in the fashion fraternity as jury members, mentors, keynote speakers and active fashion promoters. The powerful jury will comprise of stalwarts such as Chairman of FDCI, Sunil Sethi, actor and style icon, Neha Sharma, design extraordinaire, Gaurav Gupta, leading content creator, Masoom Minawala, celebrity stylist, Shaleena Nathani and lastly the man with a lens, Bollywood’s leading shutterbug Rahul Jhangiani. Trailblazers of the fashion industry namely Amit Aggarwal, Anju Modi, JJ Valaya, Namrata Joshipura, Rahul Mishra, Shantanu & Nikhil, Suneet Varma, Abraham & Thakore, Rina Dhaka and Kunal Rawal, will mentor the competing teams during the course of the competition.

Speaking on the announcement, Kartik Mohindra, Chief Marketing Officer, Pernod Ricard India, said, “It is with great pleasure that we announce the launch of the second edition of Blenders Pride Fashion Tour ‘The Showcase’ in collaboration with FDCI, to co-create an inclusive fashion platform where we will nurture future talent. We aim to invite, celebrate and provide a platform to the aspiring talent across the fashion ecosystem. The journey of ‘instilling pride’ will continue to be at the helm of brand’s vision and The Showcase will only reinforce by bringing alive distinctive expressions of ‘Pride’.

Progressing through four phases spread out over nearly two months, The Showcase will intricately weave diverse narratives of Pride such as ‘My Identity. My Pride’, ‘My Passion. My Pride’ and ‘My Planet. My Pride’ to unravel a holistic experience. The shortlisted contestants from the nation-wide talent hunt will be divided into teams of four, each from the categories of designers, shutterbugs, models and content creators and given a challenge under the theme of My Planet. My Pride. With the philosophy of Reuse, Repurpose and Recycle at the helm of the platform, the aspirants will be required to repurpose garments sourced from over 60 leading fashion brands & individual labels such as Rohit Bal, Péro, Ashish N Soni, Bodice, Neeta Lulla, Varun Bahl, Gauri & Nainika, Rohit Gandhi + Rahul Khanna, Huemn, Doodlage, Pankaj & Nidhi, among others to encourage the culture of consuming better as a part of ‘My Planet. My Pride’.

The Showcase will also witness multiple interactive sessions addressed by enigmatic personalities such as Sushant Divgikar, India’s mainstream Drag icon and the voice of inclusivity and diversity, veteran model, Lakshmi Rana, a guidepost for aspiring designers, Ashish Soni and finally globally acclaimed photographer, Tarun Khiwal, weaving in the narrative of ‘My Identity. My Pride’ through their journey.

Chairman, FDCI, Sunil Sethi, said, “We are proud to associate with Blenders Pride Fashion Tour for its second edition of The Showcase, and further add to the magnanimity of the property. Credible names in the fashion space, FDCI and Blenders Pride Fashion Tour share a common belief that together we can build an inclusive platform that will give a voice to upcoming talent from the length and breadth of the country.”

Curator, Ashish Soni, said, “India has immense talent and with the combined synergies of the Blenders Pride Fashion Tour ‘The Showcase’ and FDCI, we will be able to curate a platform that will nurture talent across diverse creative fields. This will be a definitive step towards building a more inclusive fashion ecosystem and giving voice to aspiring talent across the nation.”

Actor and Model, Neha Sharma, said, “Having a background in both acting and modelling, I am very excited to be the jury member of Blenders Pride Fashion Tour The Showcase, which aims to take a progressive step in the fashion arena. The Showcase is truly a-once-in a lifetime opportunity for the aspiring talent and I strongly encourage greater participation.”

Designer, Gaurav Gupta, said, “I have had a long-standing association with Blenders Pride Fashion Tour, and The Showcase is an important step forward to nurture the fashion talent of the future. Thrilled to come on board as the Jury member and doing my part in encouraging upcoming talent in the fashion & lifestyle space.”

Celebrity Stylist, Shaleena Nathani, said, “I have always been passionate about dressing up people and I was lucky enough to get the right opportunities to follow my passion. I believe that a platform like Blenders Pride Fashion Tour The Showcase will be a game changer for the industry and will nurture the new and upcoming talent.”

Fashion and Lifestyle Influencer, Masoom Minawala, said, “For the longest, fashion and lifestyle influencers were not considered as an intrinsic part of the fashion ecosystem and not recognised for their creativity and talent. With a dynamic platform like Blenders Pride Fashion Tour The Showcase bringing the influencers & content creators to the forefront, the credibility for the profession will increase manifold and encourage hidden gems across the country to hone their skills.”

Celebrity Photographer, Rahul Jhangiani, said, “Capturing diverse narratives of pride through a unique lens has defined my life. I am delighted to be associated with a platform like Blenders Pride Fashion Tour The Showcase that recognises the creativity of artists across diverse genres.”

Keynote Speaker, Sushant Divgikar, said, “My life has been defined by following my passion and embracing every facet that makes me who I am. With an inclusive platform like the Blenders Pride Fashion Tour ‘The Showcase’, the talent across the nation will get a chance to embrace their individuality and showcase their craft.”

For further details about Blenders Pride Fashion Tour ‘The Showcase’, please visit https://blenderspridefashiontour.com/

Tata Chemicals Q1 FY22 Income From Operations At Rs 2977 Cr, Up 27%; Consolidated PAT At Rs342 Cr, Up 362%

Tata Chemicals today declared its financial results for the quarter ended 30th June, 2021. The Company reported income from operations on consolidated basis at Rs2,977 Cr, up by 27% as compared to Rs2,348 Cr of the corresponding quarter of last year. Consolidated PAT for the quarter was at Rs342 Cr, up by 362%, as compared to Rs74 Cr for corresponding quarter of last year. This was mainly due to rebound in Soda Ash volumes in US and India.

Consolidated Gross Debt stood at Rs7,284 Cr, as compared to Rs6,933 Cr as on Mar21. Also Cash & equivalent stood at Rs3,293 Cr, as compared to Rs3,104 Cr as on Mar21.

The Company’s results by reporting segments showed income from operations for the Basic Chemistry Products at Rs2,173 Cr, up by 30%, and Specialty Products at Rs797 Cr, up by 18%.

Commenting on the results, Mr. R. Mukundan, Managing Director & CEO, Tata Chemicals Ltd., said, “Our priority continues to be safety of our employees and ensuring business continuity. During the first quarter, we ensured agile servicing of customer demand and cost control. The capacity expansion at Tata Chemicals, Mithapur and Rallis, Dahej is on schedule. With the business environment steadily improving, we are well positioned to grow across customer segments”.

Standalone Highlights Q1 FY22

Soda ash sales are at pre covid levels. Soda ash demand is expected to be robust through the year.

Salt and Bicarb production and sales remained healthy.

The rebound in demand cushioned the impact of increasing energy and freight costs.

Prebiotics (FOS), HDS Silica products continue to grow.

Consolidated Highlights Q1 FY22

Demand rebounds in all markets. Prices in spot markets are up.

Energy, logistic and carbon cost increase cushioned by volume growth.

About Tata Chemicals Ltd.

A part of the over US$ 106 billion Tata Group, Tata Chemicals Limited, is a leading supplier of choice to Nutrition, Glass, Detergent, industrial and chemical sectors. The company has a strong position in the crop protection business through its subsidiary company Rallis India Ltd. Tata Chemicals has world class R&D facilities in Pune and Bangalore.

Tata Motors Partners With Sundaram Finance To Provide Exclusive Offers On Passenger Vehicles To Its Customers

Key Highlights:

* Sundaram Finance to provide 100% financing on Tata Motors' new Forever range

* Special 6 monthly installments for farmers under the “Kisan Car Scheme’

In an effort to make its New Forever range of Tata Motors cars and UVs more accessible in these challenging times, Tata Motors, India’s leading automotive manufacturer, has rolled out exciting finance offers for its passenger vehicle customers in collaboration with India’s leading NBFC Sundaram Finance.

Highlights of the Partnership

As part of this partnership with Tata Motors, Sundaram Finance will provide six-year loans on the new Forever range of cars and UVs with 100% financing that will require for minimal down payment. The partnership has also on offer a special financing ‘Kisan Car Scheme’ with extended and convenient repayment options for the farmers. As part of this, the farmers can repay the loan in installments once every 6 months coinciding with their harvest.

Commenting on the roll out of these finance schemes offers, Mr. Rajan Amba, Vice President, Sales, Marketing & Customer Care, Passenger Vehicles Business Unit, said, “We, at Tata Motors, have always been committed to supporting our customers at all times. The recent Covid-19 upsurge has impacted everyone and to help our passenger car family in these challenging moments, we are delighted to be partnering with Sundaram Finance to roll out special finance schemes. This is in alignment with our constant effort to fast track the availability of safe personal mobility solutions to individuals and families at pocket friendly rates. We hope that these offers will boost customer morale and make the process of purchasing a car more convenient.”

Commenting on the partnership with Tata Motors, Mr. A. N. Raju, Deputy Managing Director, Sundaram Finance said, “Following the lockdown in several states since April, we are now seeing a recovery in the passenger vehicles segment as endorsed by the sales numbers in July. Also with social distancing, we are observing a rise in the demand for ‘personal transport’ over the last 12 months. Car buyers have been looking for an exciting roll out and the new Forever range fits the bill. Through a lower down payment model and a lower EMI, we are proactively reaching out to the small business owners and making car ownership more affordable thus paving for a safe travel.”

In addition to the above, Tata Motors also recently announced that it has put in place a comprehensive ‘Business Agility Plan' to protect and serve the interests of its customers, dealers, and suppliers for the well-being of its business and supporting ecosystem.

To know more about offers and car buying options, call your nearest dealership or visit https://cars.tatamotors.com/. Customers can also enquire, request a test drive, make bookings, and select their preferred financing option via ‘Click to Drive’, Tata Motors’ end-to-end online platform, from the comfort and safety of their homes.

Stay Home, Stay Safe.

*The scheme is not applicable on Nexon EV

T&C apply

Keysight's Channel Emulation Solutions Selected By vivo To Perform Complex 5G Device Testing

* Supports real-world performance validation of smartphones in laboratory environment

Keysight Technologies, Inc. (NYSE: KEYS), a leading technology company that delivers advanced design and validation solutions to help accelerate innovation to connect and secure the world, announced that vivo, a global technology brand, selected the company's 5G channel emulation solutions to perform complex 5G device testing.

Keysight's PROPSIM F64 Radio Frequency (RF) Channel Emulator, part of the company's portfolio of channel emulation solutions, was chosen by vivo to perform multiple input and multiple output (MIMO) over-the-air (OTA) testing in a laboratory environment under a diverse range of real-world mobility scenarios, including rural, city and indoor.

"We're pleased to support vivo with end-to-end repeatable performance test capabilities in their lab," said Cao Peng, vice president and general manager of Keysight's wireless test group. "Major device makers and network equipment manufacturers use Keysight's channel emulation solutions to verify the performance of 4G and 5G base stations, smartphones and tablets prior to market introduction."

Keysight's PROPSIM channel emulation solutions enable vivo to test the performance of 5G devices under real-world channel conditions according to the latest 5G new radio (NR) specifications defined by 3GPP. PROPSIM integrates seamlessly with Keysight's UXM 5G Wireless Test Platform to deliver CTIA-defined MIMO OTA test scenarios in frequency range 1 (FR1). By combining channel and network emulation capabilities, users can also access advanced performance test capabilities, including full stack end-to-end protocol signaling and radio frequency (RF) performance testing of devices.

"Keysight enables vivo to conduct performance testing, supporting the development of our innovative technology that connects consumers around the globe," said Mingliang Xu, general manager of hardware and performance testing at vivo. "We rely on test equipment vendors that allow us to stay at the forefront of technology development – 5G and beyond."

vivo uses Keysight's 5G emulation solutions to validate the performance of 5G devices equipped with complex beamforming techniques such as MIMO and massive MIMO (mMIMO) in FR1 (sub-7GHz). The solutions use real-world complex 3D propagation channels to verify the performance of 5G device in highly dynamic mmWave end-user environments. The integrated test solution enables users to address both baseband modem performance and antenna design performance evaluation from a single channel emulation platform, leading to reduced test execution times.

About Keysight Technologies 

Keysight delivers advanced design and validation solutions that help accelerate innovation to connect and secure the world. Keysight's dedication to speed and precision extends to software-driven insights and analytics that bring tomorrow's technology products to market faster across the development lifecycle, in design simulation, prototype validation, automated software testing, manufacturing analysis, and network performance optimization and visibility in enterprise, service provider and cloud environments. Our customers span the worldwide communications and industrial ecosystems, aerospace and defense, automotive, energy, semiconductor and general electronics markets. Keysight generated revenues of $4.2B in fiscal year 2020.

Moksh Agarbatti Ropes In Madhuri Dixit As Its New Brand Ambassador

 

Moksh Agarbatti one of the leaders in manufacturing incense sticks and one among the top three brands in India has roped in the legendary actress, Padma Shri Madhuri Dixit Nene as its brand Ambassador.

The famous superstar will endorse the company’s wide range of prayer products like Agarbatti and Dhoop known for their unique fragrance.

Madhuri Dixit Nene, said, “I am glad to represent Moksh Agarbatti, a brand that has been a pioneer in launching Agarbatti with some of the best fragrances which are Floral, Woody, Spicy, Fruity in nature. Brands like <https://www.mokshagarbatti.in/product/swarna-champa/> Swarna Champa, Akash Phool, and Samaj are market leaders in the commoditized Agarbatti category. Due to the brand's unique fragrances, it has a loyal customer base across the country.”

Speaking of the association Anand Kumar Ashiya, CEO, Moksh Agarbatti said “Moksh Agarbatti is an iconic brand with a rich history of more than two decades of trust and fragrant leadership in the Indian Agarbatti market. We are now proud to have Madhuri Dixit Nene as the brand ambassador of Moksh Agarbatti. She is a renowned Bollywood star who complements our brand values. Through this association, we want to spread awareness about the benefits of using fragrant and quality incense in one's prayers. Your prayers are uninterrupted with superior quality incense. We use the purest ingredients and raw materials to give you superior quality incense sticks. All the incense sticks manufactured go through a rigorous quality check to ensure every incense stick burns uninterrupted. Our products are made with the highest global quality standards with user-friendly packaging.”

Moksh Agarbatti will soon launch a 360-degree marketing campaign featuring Madhuri Dixit Nene encompassing TV, print, outdoor, digital and other media.

About Moksh Agarbatti

Moksh Agarbatti is one of the top three manufacturers of Incense sticks in India. The company's wide range of prayer products like Agarbatti and Dhoop is known for its unique fragrance. With over 35 different products, which are patented and trademark registered, Moksh has the vision to be available in every household in India. Apart from the flagship, Swarna Champa, it has introduced many brands with unique fragrances like Chandan, Lavender, Gulab, Akash Phool, Night Queen, Mogra, and Kewda to mention a few.

Founded in 1996 by Mr. Sesh Kiran Ashiya and Mr. Anand Kumar Ashiya as a partnership firm, Moksh Agarbatti is an iconic brand with a rich history of more than two decades of trust and fragrant leadership in the Indian Agarbatti market.  Moksh agarbatti uses the purest ingredients and raw materials to give you superior quality incense sticks. All the incense sticks manufactured go through a rigorous quality check to ensure every incense stick burns uninterrupted. The products are made with the highest global quality standards with user-friendly packaging. Moksh Agarbatti co is ISO9001-2008 certified company.

From being a team of 20 workers manufacturing 2.5 lakh Agarbatti a day, to the current workforce of around 1000 personnel manufacturing 1.5 crore Agarbatti per day, Moksh Agarbatti has come a long way since its inception.