Nestlé a+ Launches Mishti Doi With jaggery Across Indian Market

Nestlé a+ Mishti Doi with jaggery is a category-first innovation, launched this summer. The product is deliciously creamy and smooth, with a distinct caramelized taste of jaggery.

Commenting on this new launch Mehernosh Malia, Head  – Dairy Business, Nestlé India said, “The taste of traditional mishti with gur is something special . Nestlé a+ Mishti Doi with jaggery is our attempt to bring this delightful experience to our consumers. Along with its traditionally known goodness, jaggery also has a distinctly rich texture which lifts the taste of our new Nestle a+ Mishti Doi.”

Nestlé a+ Mishti Doi has been launched in Delhi NCR and from July’22 onwards, will be available in Mumbai, Bengaluru and Hyderabad.

Honasa Consumer Acquires Majority Stake In Skincare Brand Dr Sheth's

Honasa Consumer Pvt. Ltd. (HCPL), the parent company of Mamaearth, and The  Derma Co., and the fastest-growing House of Brands for personal care, has acquired Dr. Sheth’s, a  dermatologist-formulated premium skincare brand designed exclusively for Indian skin by three  generations of skin doctors. Through this acquisition, HCPL has control of the majority stake in Dr. Sheth’s  at a valuation of INR 28 Cr. The primary round of funds will be directed to accelerate future growth of the  brand.  H

The products of Dr Sheth’s have been developed with expertise accrued by 3 generations of accomplished cosmetologists and dermatologists. Dr. Sharat Desai, probably India’s first dermatologist, worked to put  India on the map for the field of dermatology. Following in the father’s footsteps, his daughter, Dr. Rekha  Sheth, became India’s first cosmetic dermatologist and one of the preferred dermatologists by Bollywood  celebrities. Dr. Aneesh Sheth, PhD Pharmacology and an Ivy league trained cosmetic scientist, founded  Dr. Sheth’s with the ambition of formulating skincare products using the knowledge aggregated over three  generations and bringing the best of nature and science together. 

The products are formulated knowing that Indian skin is unique and requires specialized care. The brands’  product portfolio has solutions for skin concerns like pigmentation, acne, dryness, wrinkles, and many  others. Some of the popular products by the brand are -Amla VC20 Vitamin C Serum, Haldi and Hyaluronic  Acid Sleeping Mask, Cica and Ceramide Overnight Repair Serum, among others. With over 30+ SKUs, the  brand has catered to over 200,000 consumers.  

Millennials are evolving and there is a growing appreciation for sophisticated ingredients. While they seek  comfort in traditional Indian ingredients in skincare, they also want to go beyond the conventional and  experiment. Dr. Sheth's has identified this void and created a portfolio of products that blend natural  ingredients with science-based active ingredients, providing the best of both worlds. With a digital-first  approach Honasa Consumer Pvt. Ltd. (HCPL) has established its leadership in understanding millennial  consumer behavior and launching and successfully scaling consumer brands with a strong millennial  connect. The expertise of Dr. Sheth’s in creating specialized skincare for Indian consumers, coupled with 

the digital expertise of HCPL, will help scale the business of Dr. Sheth’s and further strengthen the  leadership of HCPL in digital-first brands.  

While HCPL has control of the majority stake in Dr. Sheth’s, Dr. Aneesh Sheth will continue to lead the  business and product innovation for the brand.  

Commenting on the acquisition, Varun Alagh, Co-Founder and CEO, Honasa Consumer Pvt. Ltd. said,” Dr.  Sheth’s is a brand that is synonymous with heritage and legacy, and we are excited about this partnership  as it will help us widen our portfolio offerings under the HCPL umbrella. It will be a symbiotic relationship  wherein there will be knowledge sharing across brands and collaboratively build the brand and its product  portfolio. Being a house of brands, Honasa Consumer Pvt. Ltd. has attained expertise in building millennial  brands with a digital-first approach. We will utilize our expertise and proficiency in digital marketing to  accelerate the growth and scale growth for Dr. Sheth’s and we are confident that we will make it a 100 Cr  run rate brand in 2 years. HCPL & Dr. Sheth’s synergize on fundamental ideologies of distinctive product  innovation and strong millennial connect, we are confident this collaboration will be a success for  consumers and for both brands.” 

Honasa Consumer Pvt. Ltd. has established itself at the forefront of digital branding and marketing and  this acquisition will further strengthen the company’s strength in the millennial personal care segment.  

Commenting on the partnership Aneesh Sheth said,” We are very excited about the partnership with HCPL  - they bring a level of operational excellence that will make our expertise and our products accessible to a  wider community. Their experience as a house of brands will also help us optimize our innovation and bring  about a great range of skincare that combines the best of both worlds - science and nature. “  

Tech Mahindra Ltd: Disappointing Margin Performance; Deal Intake Remains Healthy

BUY

CMP: Rs1203  

Target Price: Rs1600

*  Tech Mahindra's Q4FY22 revenue came in line with our expectations, but EBITM missed our estimates. Revenue grew 4.9% QoQ to USD1,608mn (5.4% CC), led by Enterprise (5.8%) and CME (4.8%). EBITM declined 160bps QoQ to 13.2%.

* Net new deal wins were robust with a TCV of USD1,011mn, split across CME (USD645mn) and Enterprise (USD366mn). FY22 deal intake grew ~48% YoY to USD3.3bn. The deal pipeline remains healthy, and it expects healthy deal win momentum to continue.

* Management remains confident of sustaining revenue growth momentum on the back of broad-based demand, solid traction in the CME biz (uptick in digital transformation demand led by 5G spends), healthy deal intake and deal pipeline, and robust demand for digital engineering, cloud, data analytics and cyber security services.

* We cut our FY23/FY24 EPS estimates by 7.5%/6.8%, factoring in the Q4 performance, recent acquisitions, and lower margin assumptions. Strong revenue growth momentum and a ~4% dividend yield will support valuations, although the stock lacks near-term triggers after a big miss on margins. We maintain Buy with a TP of Rs1,600 (Rs1,730 earlier) at 22x Mar'24E EPS.

Vi Records Top Download Speed of 5.92 Gbps During The Ongoing 5G Trials In Pune

·         Latest speed record achieved using Ericsson’s new radio dual-connectivity (NR-DC) software

Vodafone Idea (Vi) and Ericsson (NASDAQ: ERIC) today announced achieving a technology milestone during the ongoing 5G trials by demonstrating a peak download speed of 5.92 Gbps. The new speed record by Vi, was achieved on a single test device during its 5G trials in Pune, Maharashtra, being conducted on a combination of mid-band and high-band (mmWave) 5G trial spectrum using Ericsson Massive MIMO radios, Ericsson cloud native dual mode 5G core for Standalone architecture and NR-DC (New Radio-Dual Connectivity) software.

With 5G Standalone NR-DC software, Vi can deliver latency-sensitive and high-performing applications such as AR/ VR and 8K video streaming as well as innovative new use cases for consumers and enterprises once it deploys 5G on its commercial network.

Earlier during its 5G trials and use cases’ showcase in Pune, Vi had demonstrated speeds of over 4 Gbps. The new speed record of 5.92 Gbps has been achieved using the Govt allocated 5G spectrum for the trials.  

Commenting on this achievement, Jagbir Singh, Chief Technology Officer, Vi said, “The trial demonstrates how Vi is constantly testing and preparing its network for new 5G based applications that will rely on the low latency, reliability and high speeds of 5G. Given the growing consumer demand for immersive media and video streaming services, the 5G speeds that we have demonstrated will help us prepare for the mobile broadband speeds and greater network capacity requirements of customers, as we ready for ‘5G for a Better Tomorrow’ in India.”

Vi’s focus on leveraging new technologies and partnerships for a better tomorrow for its users has led the company to showcase a wide range of 5G use cases during the 5G trials in Pune and Gandhinagar, to make enterprises and citizens smarter.

Amarjeet Singh, Vice President and Head of Customer Unit Vi at Ericsson says, “Achieving this technology milestone of 5.92 Gbps download speed by leveraging Ericsson’s 5G Standalone NR-DC software and cloud-native dual-mode 5G Core represents a milestone in India’s evolution to 5G Standalone with mmWave. Based on our global 5G deployment across 121 live networks, we are confident we can help our customers like Vi seamlessly evolve their network to 5G.”

5G is expected to account for 39 per cent of all mobile subscriptions in India by 2027 according to Ericsson Mobility Report, November 2021 edition. 5G is on track to become the dominant mobile access technology by subscriptions globally by 2027. By this time, 5G is expected to account for around 50 percent of all mobile subscriptions worldwide – covering 75 percent of the world’s population and carrying 62 percent of the global smartphone traffic.

About Vodafone Idea Limited:

Vodafone Idea Limited is an Aditya Birla Group and Vodafone Group partnership. It is India’s leading telecom service provider. The Company provides pan India Voice and Data services across 2G, 3G, 4G and has a 5G ready platform. With the large spectrum portfolio to support the growing demand for data and voice, the company is committed to deliver delightful customer experiences and contribute towards creating a truly ‘Digital India’ by enabling millions of citizens to connect and build a better tomorrow. The Company is developing infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings, conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence. The company is listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in India.

Bank of Baroda Announces Financial Results For The Quarter And Year Ended March 31, 2022

Business Performance

Global Advances of the Bank increased to INR 8,18,120 crore, +8.9% YoY and 6% QoQ as of Mar’22.

Domestic Advances of the Bank increased to INR 6,84,153 crore, +6.7% YoY and 4.6% QoQ as of Mar’22.

Global Deposits increased by 8.2% YoY to INR 10,45,939 crore. Domestic Deposits increased by 8.0% YoY to INR 9,27,011 crore in Mar’22.

Domestic Current Account Deposits stands at INR 68,780 crore, registering a robust growth of 11.6% on a YoY basis.

Domestic Savings Bank Deposits grew by 11.4% to INR 3,41,343 crore. Overall Domestic CASA registered a growth of 11.4% on a YoY basis.

Organic Retail loan portfolio of the Bank grew by 16.8% led by growth in Personal loan portfolio by 108.1%, Auto loan by 19.5% and Education loan by 16.7% on a YoY basis.

Agriculture loan portfolio grew by 10.3% YoY to INR 1,09,796 crore.

Organic MSME portfolio grew by 5.4% YoY to INR 96,863 crore.

Profitability

Net Interest Income grew by 21.2% to INR 8,612 crore in Q4FY22 and 13.2% YoY to INR 32,622 crore in FY22. 

Fee Income for the year grew by 12.6% YoY at INR 6,409 crore and 5.8% YoY for the quarter to INR 1,848 crore.

Operating Income for FY22 registered a growth of 5.7% YoY at INR 44,106 crore.

Cost of Deposits reduced to 3.53% in Q4FY22 as against 3.71% in Q4FY21.

Operating Profit for FY22 stands at INR 22,389 crore registering a growth of 5.6% YoY.

Bank reported a standalone Net Profit of INR 1,779 crore in Q4FY22 as against a loss of INR 1,047 crore in Q4FY21.The Net Profit for FY22 increased to INR 7,272 crore in Mar’22 (777%) from INR 829 crore in FY21.

Global NIM increased to 3.08% in Q4FY22 from 2.72% in Q4FY21.

Return on Assets (RoA) improved to 0.60% in FY22 from 0.07% in FY21.

Return on Equity (RoE) increased sharply by 1016 bps YoY to 11.66%

For the consolidated entity, Net Profit stood at INR 7,850 crore in FY22 as against INR 1,548 crore in FY21.

Asset Quality

The Gross NPA of the Bank reduced to INR 54,059 crore in Q4FY22 from the level of INR 66,671 crore in Q4FY21 and Gross NPA Ratio improved to 6.61% in Q4FY22 from 8.87% in Q4FY21.

The Net NPA Ratio of the Bank improved to 1.72% in Q4FY22 as compared with 3.09% in Q4FY21.

The Provision Coverage Ratio of the Bank stood at 88.71% including TWO and 75.28% excluding TWO in Q4FY22.

Slippages for the year was contained at 1.61%.

Credit cost for the year was at 1.95%, however adjusted for prudential provisioning, pro-forma credit cost was 1.70%.

Capital Adequacy

CRAR of the Bank improved to 15.98% in Mar’22 from 14.99% in Mar’21. Tier-I stood at 13.49% (CET-1 at 11.74%, AT1 at 1.75%) and Tier-II stood at 2.49% as of Mar’22.

The CRAR and CET-1 of consolidated entity stands at 16.47% and 12.34% respectively

Experience “Made In India” AR/VR Glasses By AjnaLens At The India’s Mega Metaverse Summit 2022

* AjnaLens showcasing the exclusive AR Glasses at Namastey NFT Event, available for experience for 2 days

Contributing to India’s journey of metaverse adoption, AjnaLens, Mumbai-based XR hardware and software company has partnered with Namastey NFT for their India’s Mega Metaverse Summit 2022 as their AR/VR glasses partner. AjnaLens will be demonstrating a LIVE 3D Paint Experience in VR, and exclusive AR experiences at the 2 days event. 

AjnaLens’ VR Glasses are one of the most light-weight glasses (172 Gms) and will be available for experience at the event on 14-15 May 2022, in Bangalore.

If you are in Bangalore, and would like to experience, please meet the AjnaLens team at the experience zone, and we would be happy to facilitate you with an exclusive experience.

About AjnaLens

Named after ‘Ajna’, the sixth chakra or the third eye which activates ‘intuitive vision’, AjnaLens is a Mumbai-based company making immersive augmented, virtual and mixed reality devices and software solutions for Defence, Enterprise and Skilling sectors. It is the first and only XR hardware OEM to manufacture AR/VR glasses in India. 

The impact-driven startup is on a mission to unlock human potential by empowering them with augmented intelligence. In November 2014 at IIT Bombay, AjnaLens was established with a purpose to foster inclusive development in society by empowering people at the grassroots with the right tool for this decade - a ‘holographic computer’. It empowers and enables humans into perceiving and doing what is beyond their capabilities by seamlessly connecting the digital world with reality. 

AjnaLens is currently helping India’s government and fortune 500 companies in their digital transformation journey by providing end-to-end solutions such as Enterprise Metaverse, VR training simulators, AR-based remote assistance, Digital twin as well as providing indigenous defence solutions like see-through armour to Indian Defence forces.

AjnaLens has filed 15+ National and International patents in augmented reality and allied fields. The company has won accolades like the Most promising startup by ECLINA Defennovation for cutting-edge innovations. AjnaLens is a growing family of 50 people, inviting bright minds to join their vision.

Epson Products Win Prestigious iF Industry Forum Design Award 2022

Four Epson product models including printers and projectors were named winners of an iF Design Award 2022. This is one of the world's most celebrated design awards and is organized by iF Industry Forum Design GmbH of Hannover, Germany.

Founded in 1953, the iF Design Award showcases particularly innovative industrial product designs. The selection criteria range from consideration of practicality and workmanship to innovativeness, sustainability, functionality, usability, safety, aesthetics, and universal design. This year, a jury panel made up of 132 design experts from around the world examined some 11,000 entries from 57 countries and regions.

Award-Winning Designs

SD-10 Spectrophotometer

The SD-10 is a highly accurate, compact, and affordable spectrophotometer equipped with a MEMS Fabry-Perot tunable filter developed by Epson. You can use it to digitize color matching, a conventionally time-consuming part of printing done manually, and link it with a smartphone or cloud service to centrally manage color information for smoother printing process. Pocket-sized and portable, it allows you to measure colors anytime, anywhere.

SD-10

Key design features

The form is simple, with all unnecessary elements eliminated, to maximize portability and operability. Great attention was paid to the finishing of details, and the color and texture lend an aura of quality as an optical instrument.

Monna Lisa ML-64000 Digital Textile Printer

This is Epson's first large textile printer to meet high-brand quality needs. It can directly print on fabrics up to 1.8 m wide. Its size (2.4 m [H] x 6 m [W]) evokes building pillars and beams with a more robust look. A large center window affords a view of the textiles being printed. This product helps enable the textile printing industry to shift from analog to digital technology and reduce environmental impacts.

Monna Lisa ML-64000

Key design features

The body is gray, a color that conjures a sense of robustness befitting use in production and that helps hide stains and grime. The color scheme is distinctive, with the Epson corporate color serving as an accent.

These are high-end home projectors equipped with a new laser light source. They deliver real 4K image quality so that users who don't have a home theater environment can enjoy a sharp, bright, compelling home cinema experience even in a well-lit living room.

Key design features

The design, well-balanced and symmetrical, is exceptionally simple and clean in appearance. This allows the projectors to blend beautifully into the living environment. Whereas the form has a solid feel, the area around the lens has a sculpted form, giving an impression of power as a high-performance model. To give customers a feeling of satisfaction at owning a high-end model, a metallic finish was deposited on the ring encircling the lens, and the finish of the housing was improved by giving it a slightly grainy texture.

These wireless presentation systems transmit PC screen content to almost any display. You can easily send video to your display device by connecting a transmitter to your PC and clicking an icon on the screen. In addition, you can display the screen from up to four devices simultaneously, enhancing communication, creativity, and collaboration during meetings and workshops.

Key design features

The rounded form invites touching and a gradated LED suggests the spread of radio waves. This design was adopted to lower the psychological barriers for first-time users.

About Epson

Epson is a global technology leader dedicated to co-creating sustainability and enriching communities by leveraging its efficient, compact, and precision technologies and digital technologies to connect people, things, and information. The company is focused on solving societal issues through innovations in home and office printing, commercial and industrial printing, manufacturing, visual and lifestyle. Epson will become carbon negative and eliminate use of exhaustible underground resources such as oil and metal by 2050.

Led by the Japan-based Seiko Epson Corporation, the worldwide Epson Group generates annual sales of more than JPY 1 trillion. global.epson.com/

About Epson India

Epson India Pvt. Ltd. was incorporated in the year 2000. Epson products address the needs of homes, businesses and commercial enterprises as those of consumers with specialized needs in India. With a commitment to providing products and services that surpass people’s expectations, Epson India today has an enviable reputation for quality and value. Headquartered in Bangalore, the company markets and supports Epson Inkjet Printers, Inkjet All-in-Ones, Point of Sale Printers, 3LCD Projectors, Scanners, Large Format Printers, Robots and Dot-Matrix Printers. In all of these categories, Epson is either the No. 1 or No. 2 brand in India and growing fast. https://www.epson.co.in/