30 Defence Startups Present Their Funding Pitch Before Investors On Day-3 Of Ahmedabad Design Week 3.0

The Ahmedabad Design Week (ADW) 3.0 organised by Karnavati University culminated on a promising note as 30 defence-sector start-ups pitched in their business plans to the investors at the three-day design confluence, themed around ‘Design and Innovation in Defence and Aerospace’. Defence-sector start-ups at various stages pitched their ideas and innovations in various defence-related applications, including Unmanned Aerial Vehicle (UAV), drones, aeromodelling, surveillance and high-temperature firefighting applications, among various others. The presentations were attended by investors from GVFL, GCCI, CII and other industry experts.

The design convention has been organised by Karnavati University, in association with Department of Science and Technology, Government of Gujarat, and DRDO, Government of Gujarat and DA Group.

The day started with a speaker session by illustrious art director, Mr Nitin Zihani Choudhary, who shared his art exploration journey that landed him with a critically acclaimed movie, ‘Tumbbad’.

“To learn and then unlearn makes the entire process of design. I don't control my drawing. I don't guide my pen. I look for beauty in reality and take up films that challenges me. If you want to make a good film, you need time, money and passion,” Choudhary advised the eager youngsters who grabbed the opportunity to interact with him.

The second presentation was by Mr Kedar Nimkar, Head of Design, Jupiter, who delivered a detailed presentation titled ‘Back to Design for Everyone’, for budding designers and innovators.

The third speaker session by Satish Gokhale, Head of Product Design, Design Directions, left the students and design enthusiasts spellbound, as he showcased his latest product, a water drone. The device is a battery-powered self-propelled Life Buoy/ water drone — which will be demonstrated at the upcoming Defence Expo in Gandhinagar on March 10 and even tested at the Sabarmati Riverfront in Ahmedabad.

“We have made products that save lives, we have made products that can take life,” said Ghokhle while presenting his case study on product design. “Design is about tweaking a process,” he added.

The panel discussion on ‘Design Technology Innovation - A merger to intensify design for defence’ saw insightful discussions by renowned panelists like Mr Amit Krishn Gulati, an award-winning industrial designer, entrepreneur and educator; Prof. Dhiraj Kumar, Director at National Institute of Design (NID), Bhopal; Mr Satish Gokhale, Head of Product Design, Design Directions; Dr Sushil Chandra, Scientist 'G', INMAS, DRDO; and Mr Rahul Dutta, an NID alumnus who uses ‘art, design and technology to change perception of our reality’.

While Mr Gulati emphasizes that the outcomes from collaborations are better, Mr Gokhale explained the need for advance planning in design and that ‘there is no option of not designing’ in a world that is rapidly changing and demanding more efficiency by the day.

Prof. Dhiraj shed light on accessing threat and making design for solution whereas Mr Rahul Dutta called for use of latest technologies for better life experience and work experience. Dr Chandra termed Metaverse for defence a ‘wonderful thing’. The panel discussion was moderated by Prof Lolita Dutta from Karnavati University.

The valedictory ceremony of ADW 3.0 saw speakers from the industry, government and academia. Addressing the audience during the concluding session, Dr Rutvij Patel, Executive Director, United Group and co-spokesperson, BJP Gujarat, said: “ADW 3.0 has accelerated the efforts to realise the vision of Hon’ble Prime Minister of Atmanirbhar Bharat. Young innovators and designers must make our India strong through the ‘Make in India’ in defence and contribute to making our country a global hub of manufacturing in defence sector.”

Hailing the young designers and innovators at ADW 3.0, Mr. Harsh Sanghvi, Minister of State for Home Affairs, Gujarat, said:  Drone technology is one of the most sought-after sectors in defence and has a lot of scope. I have seen many ideas today at ADW that can be developed for the safety and security of our Gujarat and the country.”

The concluding session also saw inspiring words by Mr Milapsinh Jadeja, Founder, Iroller Capital Pvt Ltd; Mr Vaibhav Shah, Chairman, TiE Ahmedabad and MD, Monarch Networth Capital Ltd; Mr Vinod Agrawal, Chairman, CII Gujarat State Council and MD, Arunaya Organics Pvt Ltd; Mr Pathik Patwari, Sr. Vice President, GCCI and director, Nexus Infratech Pvt Ltd and Mr Chiranjiv Patel, Managing Director, PC Snehal Group and Chairman, taskforce Committee (Construction and Infrastructure), GCII.

KSB Limited Achieves All-Time High Sales” For The Year 2021

* The Sales value for 2021 is registered for INR 14,973 million which is about a 24% increase over the previous year 

* The sales value of INR 4,446 million achieved for this quarter is about a 20% increase over the corresponding quarter of the year 2020 

* Achieved ROS of 14% for the year and 13% for the quarter 

* Orders on hand for about 7 to 8 months 

Acknowledging the yearly performance Mr. Farrokh Bhathena, Director Sales and Marketing, KSB Limited said, “This year we have achieved ground-breaking sales of INR 14,973 million despite the hindrance from the pandemic. We have registered a sales growth of 24% over last year and a growth of 20% over the corresponding quarter of the year. 

I believe demand trends are gravitating back to pre-Covid times, it is evident from our all-time high figures. With the ease of restriction from Govt. our supply chain remained intact and I am sure we will continue to achieve exponential growth in sales in coming quarters too.” 

Major Highlights 

KSB Limited, India has crossed the all-time high sales of INR 14,973 Mio.  

Steady inflow of orders for pumps required in Flue Gas Desulphurisation application 

Good number of orders received for Gamma pumps 

Good order intake at Central Warehouse, Chinchwad- Pune   

Annual medical check-up for employees was held at certain plant locations 

Complete vaccination of almost all employees done 

Mr. Milind Khadilkar, Chief Financial Officer said that the Company could deliver healthy growth due to our meticulous planning, resilience, focused efforts in these difficult times.  As a result, we are pleased to give a sumptuous return on healthy profit achieved by the Company for the year FY 2021, to our shareholders by declaring a dividend of INR 12.50 per share (125%). 

The Company is further strategizing its Solar Business and resultantly observing an increased inflow of orders in this segment.  

Adding updates on other developments, he informed that the additional Factory Shed at Sinner Plant is nearing its completion. 

He informed that the Company inaugurated its independent “Innovation Lab” at its Sinnar, Nashik plant. This initiative will help us to bring value to our customers, and all our stakeholders. With the innovation team here in India, it will help us to have the competitive edge in the market.  

On the ESG-sustainability front he communicated that, out of the targeted reduction in Green House Gases (GHG) emission by 50 % over the actual GHG emission of 2018 by 2023, we have already achieved 40% till 2021. 

About KSB Limited 

KSB Limited Founded in 1960 in India is a part of KSB SE & Co KGaA., - one of the world’s leading suppliers of pumps, valves and systems. Combining innovative technology and excellent service to provide intelligent solutions, the company has been offering innovative and sturdy solutions to cater to the myriad needs of the Indian Customer may it be in power, oil, building services, process engineering, water treatment, water transport, etc. The activities of KSB’s in-house research centre focus on the areas of hydraulics, sealing technology, materials, production technology and automation. 

Today the KSB group has a presence on all the continents with its own sales and marketing companies, manufacturing facilities and service operations. More than 15,000 employees generate annual consolidated sales revenue of over Two billion Euros. 

OTO Achieves 100 Crore Disbursal For 11000+ Vehicles Through Its Digital Commerce Platform

OTO, the two-wheeler buying and financing innovator has strengthened its market position in the vehicle financing industry by financing 100 Crore worth of vehicles through its digital commerce platform in the last 33 months.

OTO has acquired a significant market share in the auto financing industry within a short span. Since its inception in 2018, the start-up has facilitated the sale and financing of over 11000+ vehicles, amongst which approximately 2700+ vehicles are electric with more significant sales generated from its headquarters in Bangalore.

Commenting on the milestone, Sumit Chhazed, Co-founder, OTO, said, “With growing advances in digitization across sectors, there has been a significant demand in the ease of financing and buying vehicles online. We, at OTO, have witnessed a growth of 2.5x in our  books serving 6200+ happy customers from 2400 customers being served in the last fiscal through our digital commerce platform. We are already serving 2500+ a month which has scaled 8X YoY.

Not only have we raised capital from various investors to expand our business operations to new regions, but we have also built significant partnerships with established companies to grow our financing capabilities and supply chain model. This strategic approach has expedited the exponential growth of the brand. The doorstep delivery of vehicles with easy financing with digital paperwork and utmost security has won our customers’ faith in our company. We have aggressive plans to venture into new cities and strike new strategic partnerships in the near future” added Chhazed.

Hariwansh Kumawat, CFO, OTO, said, “Over the last 2 years, OTO has been growing in a steady way keeping the portfolio quality best in the industry. From doing 1 Crore per month, we have grown to 15 crore per month and the vision from here is bigger and stronger. In the next 12 months, we are confident of disbursing 600 Crore. While talking about the growth, the credit quality should never deteriorate and that is the mantra being followed across the board. The retail book, by virtue of its nature comes with some baggage and the credit losses are bound to happen. However, we are successful in building a robust portfolio.

By showing a steady growth and uncompromised credit quality, we became one of the most preferred partners of many of the Financial Institutions. We have been able to stay up to our commitments to our lending partners and that is why we are adding 1-2 partners every quarter. Today we have secured a pending line of 500 Crore with our current lending partners, and we are looking to partner with some of the bigger lenders as well who have a bigger appetite to bring down the cost and to have long-term visibility towards this space.”

Starting in 2018, OTO operates on an innovative financing model for 2-wheelers where the buyer pays an upfront amount like any other finance options but gets up to 35% lower EMIs with an option to retain, return or upgrade at the end of the tenure. The platform works in partnership with various banks and NBFCs to provide the most hassle-free financing options to its customers. It also provides full auto lifecycle management, from credit underwriting to insurance, maintenance, and eventual resale of the vehicle.

The fintech startup is making strides to bolster its business growth and intends to sell 75K two wheelers and achieve 600 Crores of annual disbursement by the next financial year. The company also aims to intensify its presence in India and expand its workforce.

About OTO:

OTO was founded in 2018 by IIT-Mumbai alumnus Sumit Chhazed and Harsh Saruparia to present a 10X simpler, faster and more convenient way for 20Mn Indians to buy and finance their 2-wheelers every year. The company is headquartered in Bengaluru, with its services also available in Hyderabad, Chennai, Pune, and Mysore. OTO has created a dramatically simpler leasing-like financing model for 2-wheeler purchases where buyers pay a similar upfront payment like any other finance company , pay up to 30% lower EMIs and have the option to own the 2-wheeler at the tenure end OR sell it back to OTO. Around this core of “10X better” financing model & experience, OTO has added an app-based layer to help 2-wheeler buyers to find all the top options in one place, schedule a home test drive at their convenience and then choose to finance with OTO and continue to manage it - all in one place. With its 300+ dealer partners, OTO has financed more than five thousand two-wheeler vehicles. Find more information about OTO on www.otocapital.in

Medvarsity Partners With Clove Dental To Launch Fellowship In Endodontics

* 110 BDS graduates admitted in week one of the launch

Endodontics or ‘undertaking treatments to save teeth’, is a highly specialized science which requires an advanced set of skills for a predictable and positive outcome. The high incidence of tooth decay and lack of awareness amongst the population makes it all the more important that every single dentist is provided specialized training to develop these skill sets.

Medvarsity, the leading healthcare ed-tech brand and Clove Dental have partnered to launch a Fellowship course in Endodontics. This 6 months fellowship program includes a 3-month contact program with Clove Dental across all major Indian cities. This allows the students to apply their knowledge in a real-world clinical setting.

Lt. General Dr. Vimal Arora, Chief Clinical Officer (PVSM, AVSM, VSM & Bar), Clove Dental said “The number of Endodontists, in the country, is woefully inadequate and there exists a definite need and requirement, not only for additional number of seats in Post-Graduation in Endodontics across the country but also for skill development in the field of Endodontics to improve treatments related to Root Canal, Re-Root Canal, Single sitting root canal, Surgical Endodontics and Post Endodontic Rehabilitation. Our partnership with Medvarsity is aimed at addressing these issues, and giving our dental surgeons the right training platform required to grow their practice, and serve their patients better”.

Clove Dental will provide Medvarsity students with the right infrastructure across the country as well as highly experienced and trained faculty in this discipline to provide the right kind of training to young dentists.

Gerald Jaideep, CEO Medvarsity said, “The oral care profession in India is faced with dire problems ranging from professional education, to practice and employability. We currently have the second highest number of dentists in the world, with 2.7 lakh registered practitioners. Our dentists-to-population ratio of 1:5,000 trumps the 1:7,500 recommendation by the WHO.

Still our dental surgeons do not have programs other than their formal education, to increase their employability and dental practice. We are happy to partner with Clove Dental to launch this 6 month Fellowship program. It's very satisfying and  humbling to see the first batch kickstart with 11O admissions within the first week of the launch of this program”.

The program allows BDS graduates to learn through the clinical application of knowledge rather than rote learning, allowing students to understand and recall concepts better in a clinical setting. The program further provides a framework for optimal diagnosis, treatment planning, and management of all endodontic lesions.

Social Pressure Drives Indian Consumers' Hygiene Habits Across India

Maintaining good hygiene has been heavily promoted as the best measure consumers can take to combat the spread of COVID-19. As a result, many consumers’ hygiene habits are now being driven by social pressure.

According to Mintel’s latest research, the majority of Indian consumers (84%)* agree that personal hygiene, such as sanitising hands and wearing masks, is a social, rather than individual, responsibility. Moreover, three in five (60%) Indians say it does not matter if they keep good hygiene practices if others do not.

Triveni Kulkarni, Senior Beauty and Personal Care Analyst at Mintel said:

“For consumers, maintaining a good social image drives the use of more cleaning and personal hygiene products. It is imperative for brands to provide consumers with a sense of pride through brand and product ownership and help them appear at the top of their hygiene game by offering a sense of discernment through innovative features and sleek packaging. Brands can also focus on initiatives and promotional activities that help consumers display their cleaning efforts to their peers in order to embed behaviours and boost engagement with the category.”

Indians prioritise hand hygiene?

Hand sanitisation is still believed to be the easiest way to protect against COVID-19. Two in five (41%) Indians strongly agree that using hand sanitisers regularly is still the best hygiene practice, even after the pandemic subsides. Moreover, Mintel research shows that consumers want sanitisers that are suitable for sensitive skin (50%), have natural ingredients (48%), and smell like they contain high-quality scents (46%).

Ease of use is the top growing claim in hand sanitiser launches in India which has significantly grown from 3.7% to 39% between Oct 2018 to Sept 2021, according to Mintel Global New Products Database (GNPD).

Triveni Kulkarni, Senior Beauty and Personal Care Analyst at Mintel said:

“With the hand sanitiser category now commoditised, consumer involvement doesn't translate to brand loyalty. There is therefore an opportunity to create brand loyalty by offering differentiation. The continuous use of alcohol-based hand sanitisers can cause skin dryness and this negative user experience can impact frequent usage and brand consideration. Brands could enhance the application experience through sensory elements such as scents, gentle formulas and incorporating skin-conditioning benefits such as hydration or moisturisation to reduce discomfort and dryness and strengthen brand affinity.”

Notes to Editors

*3,000 Indian internet users aged 18+, August 2021

About Mintel

Mintel is the expert in what consumers want and why. As the world’s leading market intelligence agency, our analysis of consumers, markets, product innovation and competitive landscapes provides a unique perspective on global and local economies. Since 1972, our predictive analytics and expert recommendations have enabled our clients to make better business decisions faster. Our purpose is to help businesses and people grow. To find out how we do that, visit www.mintel.com

to the support and the cooperation of all the people in India and the local society. Our suppliers and partners stood by us and believed in our common vision – delivering continuously even in acute times such as pandemic and I am grateful for their efforts all along. Our network of dealers, channel partners played excellent role as our extended arms in providing 3S - Sales, Service and Spare Parts support ensuring delightful experience of our customers all along. HIPP will continue to contribute to India and its society as a company that is expected to exist”.

Upscalio Acquires Popular Consumer Brands Gizga, Tizum, AirCase, And HomePuff

* The company will leverage a mix of geographical and product expansion to help the brands achieve INR 200 cr Annual Revenues in 2 years

In a stellar 4-in-1 win, Upscalio, a roll-up e-commerce company that invests in and grows online-first brands, has picked up a stake in Gizga, Tizum, Aircase, and HomePuff brands. The brands are category leaders and operate in the next-gen Computer, PC and Phone accessories, Laptop Bags, and Kitchenware segment respectively.

These brands have a significant market share in their respective verticals and hold a unique stance as category leaders on Amazon with positive reviews, ratings and recall. Established by Dinesh Vardhan, Vikram Vardhan and Amit Hingarh over 7 years ago, the brands are bolstered with a scrupulous procurement system which have contributed to their steady growth.

Upscalio envisions scaling these brands into INR 200 cr Annual Revenues in the next two years. To achieve its ambitious goals, the company will focus on expanding the brands’ geographical footprint while also ramping up new product development. UpScalio will also plan an eventual B2B foray to unlock new growth avenues for all three brands.

Speaking on the development, Saaim Khan, Co-Founder and COO, UpScalio said, “Laptops and mobile devices are becoming intrinsic to every household, especially in the work-from-home era. Along with kitchenware, their utility is extremely high and the category is poised to be disrupted by the technologically-superior and aggressive growth-minded brand. We look forward to helping these brands achieve Scale new heights by leveraging our core capabilities around Brand building, Marketing , NPD and Supply Chain optimization.

Dinesh Vardhan said, “Upscalio has created a fabulous strategic roadmap for Gizga, Tizum, AirCase and HomePuff. We are excited to see a greater section of customers enjoy and appreciate our efforts in building a category defining house of brands. The brands are in the right hands as they enter their next phase of hypergrowth, and we are confident that UpScalio will bolster the market position of these brands .”

About UpScalio

UpScalio is India's next generation, data-driven consumer goods company. We invest in e-commerce businesses that sell on Amazon, Flipkart and other marketplaces, and their own websites. Then, our A-team shoulders the responsibility to grow the business 5-10X. UpScalio unlocks wealth for original founders, by providing a full exit over time.

Mphasis Ltd Sees Strong Demand For Environment To Sustain Globally

BUY

CMP: Rs2952  

Target Price: Rs3650

* Mr. Nitin Rakesh, CEO, and Mr. Manish Duggar, CFO, in an interaction with us, highlighted that cloud migration, data, core modernization and customer experience are major tech consumption trends, and the company's investments have enabled it to capitalize on growth opportunities in those areas and sustain growth momentum.

* Focus on proactive large deal origination, client mining, new logo additions and a steady increase in deal sizes and tenure led to robust deal TCV wins and revenue conversion. Traction in BFSI, Hitech, Travel and Healthcare augurs well for sustainable growth.

* Mphasis remains confident of delivering organic EBITM within 15.5-17% in FY22. The integration of Blink will have an incremental 100bps negative impact for the first two years. It expects margins to remain stable with an upward bias, considering the offshore shift, flattening pyramid and lower dilutive impact from Blink, with growing revenue negating wage inflation.

* We retain Buy on Mphasis with a TP of Rs3,650 (33x Mar'24E EPS) on continued strength in the Direct business with stable margins. Overall revenue growth should converge with the Direct business as the share of the DXC business shrinks further.