Venus Remedies Q1 Net Profit Records 629.5% Increase In FY 2021-22

* Propelled by robust sales, the company’s net profit increased to Rs 14.59 crore in the first quarter of FY 2021-22 from Rs 2 crore in the same period last year

Riding on the remarkable execution of its sales and logistics strategies, Venus Remedies Ltd (NSE: VENUSREM, BSE: 526953), one of India’s leading research-driven pharmaceutical companies, has posted a sevenfold increase in net profit in the first quarter of this financial year as compared to the corresponding period last year.

Announcing its unaudited financial results for the quarter ending June 30, Venus Remedies stated that its net profit recorded an increase of 629.5%, rising to Rs 14.59 crore in the first quarter of FY 2021-22 from Rs 2.00 crore in the corresponding quarter of the previous year.

Likewise, the company’s net profit percentage to total revenue grew from 1.11% to 10.51% and the EBIDTA percentage to revenue from 12.41% to 15.55%, reflecting impressive fast-paced growth.

“Our profitability growth in the first quarter of this financial year was mainly driven by robust sales of the company’s critical care products in the domestic market. This consequently resulted in lower freight costs and other selling expenses. The concerted efforts we have put in and the resources we have mobilized over the past two years to strengthen our relations with suppliers and customers are paying off,” said Mr. Saransh Chaudhary, President, Global Critical Care, Venus Remedies Ltd, while commenting on the company’s notable financial performance.

Venus Remedies’ R&D initiatives to develop innovative products catering to unmet medical needs and its focus on building a robust product pipeline consisting of a balanced mix of generic and R&D-based drugs have put the company on a trajectory of high growth.

About Venus Remedies

Panchkula-based Venus Remedies Ltd (NSE: VENUSREM, BSE: 526953) is among the 10 leading fixed-dosage injectable manufacturers in the world. Having presence in 75 countries with a portfolio of products spread over Europe, Australia, Africa, Asia-Pacific, Commonwealth States, Middle East, Latin America, and Caribbean region. The company has nine globally benchmarked facilities in Panchkula, Baddi and Werne (Germany), apart from 11 overseas marketing offices. Its manufacturing units are certified for ISO 9001, ISO 14001, ISO 18001 and OHSAS. The company has also been approved by European-GMP, WHO-GMP and Latin American GMP (INVIMA), among others. Ranked among top 50 in India, 107th in Asia and among the world’s 500 largest pharmaceutical manufacturing companies, Venus Remedies has won more than 100 patents, 70 trademarks and 12 copyrights for its innovative research products worldwide.

Commtel Invests In nybl.ai, A Pioneer In The Democratization Of Artificial Intelligence

* Strengthens its AI capabilities to serve the critical national infrastructure sectors

Global engineering and technology company Commtel, through its subsidiary in the UAE, has invested a minority stake in nybl, the UAE based deep tech company democratizing AI. The two companies have agreed not to disclose the percentage of the stake. nybl has built a framework that allows the codeless development and deployment of machine learning models and AI applications , and its platform is currently in use in various industry sectors in the GCC region and North America. The investment will give Commtel access to nybl’s technologies for custom AI development for its clients in the Oil & Gas, Power, Mining, Transportation, and other critical infrastructure sectors. 

Mr. Shriprakash Pandey, CMD, Commtel Networks, explaining the rationale for the investment, said, “Our investment in nybl.ai allows us to leverage on the complementary strengths of deep industry knowledge and experience of Commtel with nybl’s AI expertise to help clients use the vast amounts of under-utilized data and create better value for them. Collaboration between Commtel and nybl will be demonstrated live in action for the first time at GITEX 2021 in Dubai with the launch of CN-SHIELD. As a threat-detection, prediction and resolution system which generates intelligence from the disparate systems and technologies deployed at any critical infrastructure, it will be the most advanced AI-based security management solution.”

nybl aims to democratize AI by enabling anyone to codelessly develop and deploy Machine Learning models and Ai applications. Mr. Noor Alnahhas, CEO & Co-founder, nybl, averred, “Commtel’s investment is a strategic and synergistic partnership, rather than just a monetary investment. By combining Commtel’s industry expertise with our platform, we will be launching AI applications for the critical infrastructure industries to help transform their data into actionable intelligence. We are looking towards ingress into these sectors through the deep domain experience of Commtel that will bring a ‘client’s view’ to our AI platform.  Nybl is democratizing AI, by making it easily accessible and reducing barriers to entry and partners like Commtel enable us to deliver on this promise.”  

About Commtel Networks:

Commtel is a global engineering and technology company providing high-performance digital communication, surveillance, security, safety, and artificial intelligence (AI) solutions for clients in the Oil & Gas, Power, Mining, Transportation, and other critical national infrastructure sectors. Commtel is at the forefront of engineering intelligence with expertise in executing turnkey solutions - design, engineering, multi-system integration, project management, commissioning, and life cycle management. Founded in 1998, Commtel has delivered over 500 projects across four continents, enabling the digital transformation of the mission-critical infrastructure of the clients. To learn more, log on to www.commtelnetworks.com

About nybl.ai:

nybl is smarter AI: a knowledge-driven machine learning platform that turns mountains of underutilized data into actionable intelligence, launched in 2019. Nybl has developed a framework for codeless development of machine learning models and AI applications. This end-to-end technology platform is industry and application agnosticm making their tech one of the most versatile in the world. In this sense, they’re creating an ecosystem that enables anyone to deploy AI tech, and opening up the principle of AI to everyone. In essence, they are democratising AI, by making it easily accessible and reducing barriers to entry. More on www.nybl.ai.

Biryani By Kilo - Opens Royal Dine-in & Delivery Outlets In Bengaluru

* India Biggest & most loved biryani chain – BBK gears up to deliver the royal feast at its newly launched Dine-in & Delivery Outlets in Bengaluru

Biryani by Kilo, India’s most premium Biryani and kebab chain has launched its outlets – Koramangala, Sarjapura & Akshay Nagar in Bengalaru, Karnataka. BBK Koramangala and Akshay Nagar latest dine-in launch marks their 52nd outlet in India and the first one in Indian silicon valley.  Bengalaru is known for their inevitable love for Biryani, and both newly launched outlets are set to wow the locals with authentic & delicious Dum cooked handi biryani & Kebabs.

Biryani by Kilo's newest Akshay Nagar outlet exudes an inviting, comforting and royal environment. The restaurant offers a wonderful vibe, outstanding service and lip-smacking Nizami dishes from Biryanis, Kebabs, Kormas & Phirni along with safety measures. With all this and more, BBK is all set to captivate and charm the Bengalaru gourmands & connoisseurs. Apart from Akshay Nagar, Biryani By Kilo has 2 more outlets in Koramangala and Sarjapura.

Commenting on the launch, Mr. Kaushik Roy, co-founder Biryani By Kilo said, "We are thrilled to launch BBK 1st dine-in outlet & many delivery outlets in India silicon valley. BBK is the most authentic, biggest & most loved Biryani & Kebab chain in India with presence in around 25 cities. Bengalaru deserve to devour the best, and Biryani By Kilo is ready to serve the best to them.”

Biryani by Kilo has distinctly served Hyderabadi, Kolkata and Lucknowi dum-cooked biryanis in the traditional way to more than 2 Million satisfied customers so far. The menu is not just limited to Biryani but other Nizami dishes like Kebabs, kormas & coveted Phirni. BBK has also added local delicacies to satiate Bangaloreans taste buds like Chicken Pepper Fry, Chettinad Chicken Roast , Guntur Chicken , Nilgiri Mutton Roast ,BBK USP is to make fresh Handi Biryani for every individual order and deliver the same Handi to the customer in which Biryani is Dum cooked. As most Biryanis companies were reheating & sending bulk produced Biryanis to customers, this BBK USP not only ensures safety & hygiene but also freshness & great flavors besides being eco-friendly.

Biryani by Kilo is also taking extra safety and precautionary measures, and ensuring safe dining & delivery experience. Like sanitizing their kitchen every hour, contactless ordering & digital payment. All the meals are cooked at more than 25o degree Celsius that ensures the food is absolutely safe to have. The well-being and health of the patrons is the prime priority of Biryani by Kilo.

The premium food chain has 50+ outlets in 25+ Indian cities, having major footprints in Delhi NCR as well as Lucknow, Kanpur, Jaipur, Dehradun, Chandigarh, Punjab, Bhopal, Indore, Mumbai, Pune, Goa, Bhubaneswar, Ranchi, Kolkata making it pan India most loved & premium Biryani & Kebab Delivery Chain.

Dine in & Delivery Available at:-

Ward No, Site No. 9/10,Akshay Nagar, 192, Yelenahalli, Bengaluru

Number 504, 1st Floor, 6th Cross, Koramangala Club Rd, 6th Block, Bengaluru

Delivery available from Koramangala, Sarjaura and Akshay Nagar outlet.

Many more BBK Outlets in Bangalore coming..

For orders ,Check out their official website: www.biryanibykilo.com

Icici Securities On-Boards Rohit Ambosta For Its New Solutions Group

 

·         Mr. Ambosta will join the New Solutions Group

·         The group will launch new products and services aimed at new investors

·         Will deploy next gen technology to deliver a superior trading experience

ICICI Securities (I-Sec), India’s leading retail-led equity franchise, distributor of financial products, and investment bank, today said that it has on-boarded Mr. Rohit Ambosta in the leadership team of the New Solutions Group. In his new role, Mr. Ambosta would be responsible for the products, technology architecture design, development, and launch new initiatives.

Welcoming Mr. Ambosta to I-Sec, Mr. Vijay Chandok, MD & CEO, ICICI Securities said, “Over the last 18 months, equity markets have been witnessing heightened activity levels with increased retail participation. Large number of new investors are entering the market, of which a significant proportion hail from smaller towns & cities. Representing the emerging affluent / mid income segment of the society, their requirement and expectations from intermediaries like us are very different from the conventional investors. We are happy to have Rohit join the team and increase the pace of launch of next gen products and services tailor made for these investors.”

Mr. Ambosta, an Electronics Engineer, and has over 20 years of leadership experience in Technology and Digital transformation roles. He is well versed in areas of product development, UI/UX, Digital Customer Acquisition, Analytics, and Cloud Adoption. Mr. Ambosta joins I-Sec from Sharekhan, where he served as the Chief Information Officer. He has previously worked in various roles at Angel Broking, Financial Technologies, Tech Mahindra, and HCL Comnet.

Mr Ketan Kharkhanis, an I-Sec veteran and Head of Digital Accounts Acquisition, is also part of the leadership team of New Solutions Group. Together Mr. Ambosta and Mr. Karkhanis as Co-Heads - New Solutions Group, will be jointly responsible for developing new products and solutions that will drive the digital transformation aimed at the large number of new investors entering the market.

The new products and solutions will leverage cutting-edge next gen technology like AI, ML, big data with real life customer expectations to deliver an investment journey with best-in-class customer experience.

About ICICI Securities

ICICI Securities Limited (I-Sec) is a subsidiary of ICICI Bank Ltd. The company began its operation in May 1995 and continues to grow its operation through expanding its client base and providing different type of services.

I-Sec operates www.icicidirect.com, a virtual financial supermarket, meeting the three need sets of its clients- investments, protection, and borrowing. Through its four lines of businesses -- broking, distribution of financial products, wealth management, and investment banking-- I-Sec serves customers ranging from the retail and institutional investors to corporates to high net-worth individuals to government.

Tata Motors Joins Hands With The Bank Of Maharashtra To Offer An Attractive Financing Scheme On Passenger Vehicles

Key Highlights:

·               Maximum finance up to 90% of the cost of vehicle (on-road pricing)

·               Rate of interest (ROI), starting from 7.15%

·               Quick & hassle free sanction

·               0.25% concession on ROI for corporate salary account holders and existing housing loan borrowers

·               Nil Processing Fee (Till 30th September 2021- Monsoon Dhamaka Offer)

·               No pre/part payment charges

·               Car loan available for corporate clients (firms/companies – at 80% of the cost of the vehicle)

·               Minimum EMI starting from Rs.1517/- per lakh for 7 years

In a bid to make its New Forever range of passenger vehicles more accessible in these challenging times, Tata Motors, India’s leading automotive manufacturer, has joined hands with Bank of Maharashtra, one of India’s leading public sector banks, to make available the ‘Maha Super Car Loan scheme” to all its customers.

As part of the tie-up, Bank of Maharashtra will provide loans to Tata Motors’ customers at an interest rate starting from as low as 7.15% linked with Repo Linked Lending Rate (RLLR), subject to certain conditions. This scheme will offer a maximum of 90% financing on the total cost of the vehicle (on-road pricing) for various individuals like salaried employees, self-employed people, professionals, businessmen, and agriculturists, whereas a maximum of 80% financing can be availed on the cost of the vehicle by corporate clients.

This partnership is also offering its customers a hassle-free option of getting their loans approved with zero processing fee till 30th September 2021 under “Monsoon Dhamaka Offer”. Customers can get benefit from an easy and quick sanction of loans with no pre/part payment charges. That’s not all, future car owners can also take advantage of a special EMI option starting with Rs.1517/- per lakh for 7 years. In addition to the above, the partnership has laid out a 0.25% concession in the ROI for corporate salary account holders and existing housing loan borrowers.

Commenting on the rollout of these finance scheme offers, Mr. Rajan Amba, Vice president, Sales, Marketing & Customer Care, PVBU, Tata Motors said, “Given the ramifications of the second wave of the pandemic, we, at Tata Motors, have always tried to make our personal mobility solutions more affordable and accessible for individuals and families at beneficial rates. We are pleased to announce our tie-up with the Bank of Maharashtra to offer special finance schemes, to extend our utmost support to our customers in these tough times. We hope that these offers will make the process of purchasing a car that much easier for customers and that this will positively impact their overall buying experience of Tata cars.”

According to Mr. Hemant Tamta, Executive Director, Bank of Maharashtra, “We are thrilled to be a preferred financier in the personal segment of car finance with M/s TATA Motors Ltd., one of the world's leading automobile manufacturers. Known for our vast network of branches, unique loan features, and brand loyalty, we are optimistic that we can forge a great partnership and serve our customers with the best products and services."

Furthermore, 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 avail the above schemes, customers can reach out to their nearest Tata Motors dealer or through the Bank of Maharashtra branch, register their interest in buying a Tata car. 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.

Skechers India Launches The Autumn/Winter ‘21 Collection Of Arch Fit®, The Ultimate Comfort Solution For Your Feet

* Skechers Arch Fit styles feature podiatrist-certified arch support technology for a more comfortable walking experience

Skechers, The Comfort Technology Company™, has launched the Autumn Winter 2021 collection of Arch Fit styles in India. The new Arch Fit collection covers a range of shoe categories, from casual to fitness, for ultimate comfort in every situation. Available for both men and women, the supportive pairs are thoughtfully designed for people who are always on the move. The expanded line of arch support footwear builds on the initial success of Skechers Arch Fit sneakers launched earlier this year in India.

Skechers Arch Fit footwear is synonymous with convenience and comfort, providing enhanced arch support in everyday footwear favorites from sneakers to sandals. The Skechers Arch Fit system helps to mold to your foot to reduce shock and increase weight dispersion for all-day comfort. Every shoe from the collection is lightweight and features the podiatrist-designed shape developed with 20 years of data and 120,000 unweighted foot scans. 

Select pairs also feature a variety of trademarked Skechers comfort technologies and design elements, from high-rebound COMFORT PILLAR TECHNOLOGY™ for added support in GOwalk Arch Fit styles to lightweight and responsive ULTRA GO® cushioning in Max Cushioning Arch Fit sneakers.

Sharing insight into the launch of the collection, Mr. Rahul Vira, CEO, Skechers, South Asia Pvt. Ltd. said, ‘’Skechers has always focused on providing utmost comfort to the consumer through its products.  We realized early on that our consumers have a growing need for better foot support, and this is what gave birth to Skechers Arch Fit. Our latest collection is a blend of what we are all about at the core – comfort and technology.”

Skechers Arch Fit styles for both men and women are now available at a price starting at INR 4,799/- on Skechers.in as well as at Skechers retail stores.

About Skechers South Asia Pvt. Ltd and Skechers USA, Inc.

Skechers South Asia Pvt. Ltd is a subsidiary of Skechers (NYSE:SKX), the comfort technology company based in Southern California. Skechers designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in the United States and over 170 countries and territories via department and specialty stores, and direct to consumers through 3,989 Company and third-party-owned retail stores and e-commerce websites. The Company manages its international business through a network of global distributors, joint venture partners in Asia, Israel and Mexico, and wholly-owned subsidiaries in Canada, Japan, India, Europe and Latin America. For more information, please visit about.skechers.in and follow us on Facebook, Instagram, and Twitter.

Meril Announces Cricket Icon MS Dhoni As The Face Of Its Covid-19 Self-Test CoviFind

* Dhoni to star in Covid-19 Self-test Kit CoviFind multimedia campaign “Doubt Ko Karo Out”, encouraging responsible health behaviours

* TVC and digital ad campaign build on the need to alleviate Covid-19 testing concerns and empowering Indians to strive for a healthier, safer and more resilient future

* Scaling access nationwide, Meril collaborates with Piramal Pharma to bolster offline distribution of test kits across pharmacies

Global medtech company Meril today announced cricket icon MS Dhoni as the face of its Covid-19 self-test kit, CoviFind. Kickstarting its CoviFind campaign on Independence Day, Meril unveiled two digital film and television commercials (TVC) starring MS Dhoni. The campaign aims to encourage and educate consumers on testing, bringing awareness to self-tests and highlighting the ease and convenience of testing at home. 

Sanjeev Bhatt, Sr. Vice President, Corporate Strategy, Meril said, “Rapid, accurate and affordable diagnostic solutions are essential to break the chain of virus transmission. To encourage self-testing in India, we are delighted to have MS Dhoni on board, who is a perfect fit with our core philosophy of delivering high quality and value, while advocating proactive health behaviours. As a powerful symbol of health and resilience, Dhoni is a credible and trustworthy leader. We are confident that, even off the field, he would reach multiple generations, empowering them to take charge of their own health and that of their families to create a safe environment for all.” 

Discussing the collaboration, MS Dhoni said, “In these tough times where the world is fighting against a pandemic, Meril’s self-test kit is a vital necessity. To collaborate with a brand that is bringing to its people a convenient way to test and in turn ensure that we play our part in controlling the spread, certainly makes me happy. We hope, together we can create awareness and inch closer to winning this battle.”

The ad campaign is built on the idea of easing the process of testing to alleviate Covid-19 associated fears and overcome testing hassles in India. Echoed in the campaign tagline, ‘Doubt Ko Karo Out,’ CoviFind is a quick and convenient solution to test promptly if experiencing any symptoms, in the comfort of one’s own home. At-home testing helps overcome the fear of infections in just 15 minutes.

Against the backdrop of the nation celebrating its 75th year of Independence, CoviFind poses a convenient testing solution to equip Indians with, empowering them to return to work and daily life activities in a safe and responsible manner. Self-tests such as CoviFind are also a key asset for preparedness in India with a third wave in proximity.

Link to the CoviFind self-test kit TVC: https://www.youtube.com/watch?v=YPW4Mkq-BMM.

Alongside raising awareness on the need for testing in India, while encouraging a wider audience to proactively help curb the spread of the pandemic, Meril is also rapidly scaling access to its CoviFind test kits to benefit Indians across the country. Meril has collaborated with Piramal Pharma for pharmacy distribution of CoviFind. Leveraging Piramal’s well-established distribution network, the two organizations will ensure last mile reach of the affordable diagnostic solution pan-India. Meril aims to make 3 to 5 million self-test kits available across the country, across online and offline distribution channels

Nitish Bajaj, CEO -  India Consumer Product’s Division, Piramal Pharma Limited, said, “The threat of Covid-19 global pandemic is yet to be completely vanquished. Streamlining access to fast and accurate testing and reporting will be a significant step towards identifying and arresting the spread of transmission. Through our collaboration with Meril, we will accelerate the availability of CoviFind Self-Test kits across Piramal’s well established national distribution channels. We will also train and educate pharmacists at the last mile to ensure the understanding is provided to the consumers. We are confident that this will encourage positive testing behaviour and help towards the safety of the country.”

Mr. Sanjeev Bhatt added, “Our collaboration with Piramal will ensure that the CoviFind test is extensively distributed, thus amplifying access to testing solutions across India, spanning rural, peri-urban and urban regions.”

Facilitating on-ground pharmacist and consumer education, Piramal will also oversee a team of 1,200 individuals across various distribution touchpoints. They will equip pharmacists with reliable information on testing, administration procedure and reporting of test results, facilitating responsible testing.

By raising awareness and scaling access of Covid-19 self-tests, Meril aims to meet the country’s testing needs with affordable and effective diagnostic solutions.

About Meril’s Self-Use Rapid Antigen Test CoviFind

The Meril CoviFind Covid-19 Antigen Self-Test is an in-vitro diagnostics rapid immunoassay kit for rapid and qualitative determination of SARS-CoV-2 infection from nasal swab specimens. The test is authorised, with approval from DCGI and ICMR, and intended for non-prescription home use as a self-test with self-collected nasal specimens. The test has demonstrated high effectiveness in detecting in symptomatic cases with mid to high viral load. It is manufactured and marketed by Meril Diagnostics.

The CoviFind test kits are priced at Rs 250 and available across retail pharmacies, e-pharmacies, including TATA 1MG, PharmEasy , via e-commerce platforms like Amazon and Flipkart, and through Meril’s dedicated website for CoviFind (covifind.com). Additionally, a special 25-test kit option is also available, catering to larger orders to meet testing needs of institutions and small and large businesses. 

About Meril Diagnostics

Founded in 2007, Meril is a global medical device and healthcare company that is dedicated to innovate, design and develop novel, clinically relevant and state-of-the-art devices to alleviate human suffering and improve quality of life. Headquartered in India with more than 4500 employees, Meril currently conducts business in more than 120 countries with subsidiaries in India, USA, Germany, Brazil, China, Russia, Bangladesh, Australia and Turkey.

Meril Diagnostics is focused on translating excellence in science into effective diagnostics for patients and path labs. We combine cutting-edge research with global presence and reach in clinical development, manufacturing and commercial operations. Meril Diagnostics stands strong with a wide portfolio of diagnostic range of products. We offer complete range of analyzers, reagents for clinical biochemistry, haematology, immunology (ELISA & CLIA), rapids, critical care, diabetes management, coagulation and lab consumables. Meril’s Malaria range of products are approved by WHO. Meril’s HIV range of products are CE marked and commercially used in many parts of Europe.