OnMobile Reports First Quarter Of Fiscal Year 2023 Results

* Gross revenue growth of 5.8% QoQ and 4.4% YoY

* Challenges Arena: Revenue continues to grow; increased by 11 times YoY and 38 cumulative customer agreements by June’22

* ONMO B2B: 12 customer confirmations, 3 live as on end of June’22

OnMobile Global Limited (“OnMobile”), the global leader in mobile entertainment, today announced the financial results for the first quarter of FY23 ended June 30, 2022.

Highlights:

Challenges Arena: Revenue increased by 11 times on YoY basis

Challenges Arena: 38 cumulative customer agreements for Challenges Arena by June’22 (20 live as on Q1FY23)

Challenges Arena: Now live with 20 Operators cumulative in Q1FY23 as compared to 16 in Q4FY22, reflecting growth of 25% QoQ

Challenges Arena: 6.7 Mn cumulative gross additions of subscribers by June’22

Challenges Arena: Q1FY23 net active base increase to 1.66 Mn from 1.33 Mn in Q4FY22

Q1FY23 revenue stood at INR 141.0 crore, an increase of 5.9% QoQ and 4.4% YoY; Gross profit for the quarter increased by 9.0% QoQ

Manpower cost grew by 15.3% QoQ to INR 32.1 crore primarily due to rise in hiring costs and investment in specific talent skills

Marketing cost grew by 15.7% QoQ and 103.7% YoY to INR 16.2 crore primarily due to investments in our new product lines- ONMO and Challenges Arena

EBITDA at INR 7.8 crore with a margin of 5.8% for the quarter.

Commenting on Q1FY23 results, Sanjay Baweja, CEO & MD, OnMobile, said, “The quarter revenue performance was in line with our expectations, thanks to continued high growth in Challenges Arena. We are investing in marketing for sustained revenue growth, which is impacting profitability temporarily. Our other new gaming product ONMO B2B has started generating revenue from the current quarter. We are confident that our focused execution poise us well to achieve our vision to build cutting-edge mobile gaming products while simultaneously working on digitizing our core B2B businesses.”

Asheesh Chatterjee, Global Group CFO, said, “We are pleased to see a decent start of fiscal year 2023 in our new endeavours. Our revenue increased by 5.9% QoQ to INR 141.0 crore for the quarter. Gross profit witnessed a growth of 9.0% on QoQ basis. Our cost optimization efforts continued and we managed to sustain EBITDA margin at 5.8% for Q1FY23.

Focus on many countries across the world, it is focused on building cutting-edge Mobile Gaming products while also offering a wide array of products such as Videos, Tones, & Contests. Based on current deployments, OnMobile has over 80 million monthly users across the globe.

Tata Motors Showcases Next-Gen Mass Mobility Solutions At Prawaas 3.0 For A Safe, Smart And Sustainable Tomorrow

* Presents seven innovative, top-of-the line vehicles for both last-mile and long-haul passenger mobility

Tata Motors, India’s largest commercial vehicle manufacturer and the country’s leading passenger commercial mobility company, presents seven cutting-edge mass mobility solutions at Prawaas 3.0. Scheduled from 5th to 6th August 2022 in Hyderabad, Tata Motors exhibits a robust product portfolio of passenger commercial vehicles across multiple fuel options at the third edition of India’s flagship bus and car travel show. Aligning itself with the ‘Towards safe, smart and sustainable passenger mobility’ theme at Prawaas 3.0, Tata Motors displays modern and sustainable solutions for both last-mile and long-haul mass mobility needs.

Tata Motors’ top-of-the-line product portfolio at Prawaas 3.0

• Magna 13.5m sleeper coach

• Ultra Electric 9/9 

• Starbus Long Range CNG

• LPO 10.2 CNG AC school

• Caravan

• Winger 9S

• Magic Express 

Commenting on the occasion, Mr. Rohit Srivastava, Vice President, Product Line – Buses, Tata Motors said, “Tata Motors is delighted to participate in the latest edition of Prawaas. This has emerged as an excellent platform for showcasing new products and technology as well as providing possibilities for deeper collaboration between operators, business visitors and other stakeholders within this segment. This year’s theme vitally highlights the necessity of using emerging technology and innovation to make sustainable transportation a reality. As a pioneer in the industry, Tata Motors has always remained aligned to this vision, and our diverse and smart range of products come with varied clean fuel options, with their characteristic promise of safety, comfort and efficiency.”

Tata Motors’ vehicle range at Prawaas 3.0 features India’s first front engine 13.5-metre bus – the Magna sleeper coach for intercity and luxury travel. Alternate-fuel-powered vehicles at the exhibition include the Ultra Electric 9/9 bus specially designed for staff transportation, Starbus Long Range CNG and LPO 10.2 CNG AC school bus. The display also features a customisable Caravan with modern facilities that is ideal for luxurious leisure travel. The iconic Winger 9S and Magic Express, ideal for last-mile passenger transportation, feature unmatched comfort for both driver and passengers with ergonomic seating designs and spacious arrangements. Each of the showcased products offers the lowest total cost of operations with highest efficiency and profitability potential.

Tata Motors is committed towards the vision of clean and sustainable mobility solutions for the future. It has enacted decisive steps to promote alternate fuel technology. The most recent being its steps towards the development of hydrogen fuel cell technology. The company is the first Indian vehicle manufacturer to have won an order for 15 Hydrogen Fuel Cell buses from Indian Oil Corporation. On the battery electric mobility front, Tata Motors is the market leader having delivered more than 715 Tata Motors’ e-buses in various cities of the country and have cumulatively clocked more than 40 million kilometres. The company also offers the widest range for CNG buses across categories ensuring lower operational costs and higher profitability for the operators.

Tata Motors’ passenger commercial vehicle range comes with the standard fitment of Fleet Edge – Tata Motors’ next-gen digital solution for optimal fleet management. Fleet Edge provides an end-to-end connected experience for the customers with better control over their entire business operations.

About Tata Motors

Part of the USD 128 billion Tata group, Tata Motors Limited (NYSE: TTM; BSE: 500570 and 570001; NSE: TATAMOTORS and TATAMTRDVR), a USD 37 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering extensive range of integrated, smart and e-mobility solutions. With ‘Connecting Aspirations’ at the core of its brand promise, Tata Motors is India’s market leader in commercial vehicles and amongst the top three in the passenger vehicles market.

Tata Motors strives to bring new products that fire the imagination of GenNext customers, fueled by state of the art design and R&D centers located in India, UK, US, Italy and South Korea. With a focus on engineering and tech enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused to develop pioneering technologies that are sustainable as well as suited to evolving aspirations of the market and the customers. The company is pioneering India's Electric Vehicle (EV) transition and driving the shift towards sustainable mobility solutions by preparing a tailor-made product strategy, leveraging the synergy between the Group companies and playing an active role liasoning with the Government in developing the policy framework.

With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, supported by a strong global network of over 103 subsidiaries, 11 associate companies, 4 joint ventures and 2 joint operations as on December 2021, Tata Motors’ commercial and passenger vehicles are marketed in countries, spread across Africa, Middle East, South & South East Asia, Australia, South America, Russia and other CIS countries.

Xiaomi India Launches Mi Summit 4.0, B-School Participants To Work On Real Business Case Studies

- Students from the top 27 business schools across India to work on business case studies and showcase their problem-solving skills

- Prizes worth 6 lakhs along with Pre-placement interviews and goodies

Xiaomi India, the country’s No.1 smartphone and smart TV brand, announced the launch of the 4th edition of 'Mi summit' with the vision of enabling B-School students to get hands-on experience with real-world business case studies and problem statements. The winners will be awarded a cash prize of INR 2 lakhs followed by INR 1 lakh cash prize for the runners-up team and pre-placement interviews for both. 

In the 4th edition, students from 27 business Schools can form a team of two from the first or second year and submit their participation. The teams will have to present solutions that resolve a problem and showcase its usability and application in the actual business environment. Structured in 5 stages the program begins with a screening quiz, followed by a pre-campus, campus, and cluster round culminating in the finale at the Xiaomi headquarters in Bangalore. All campus round winners will get a Pre-Placement Interview (PPI) offer from the country’s leading smartphone brand and stand a chance to win goodies up to 6 lakhs from Xiaomi India.

Commenting on the program, Muralikrishnan B, President, Xiaomi India said, “At Xiaomi India, we have always focused on providing opportunities to youth that empower them and help in building a brighter future. The Mi Summit program was started with the vision of helping the young and bright minds of India to follow their passion and truly understand how the world of business functions. Currently, in its 4th edition, Mi Summit over the years has received an exceptional response from students across the country, and we are looking forward to seeing innovative solutions from these future leaders.”

The top teams from each college will be bifurcated into 6 clusters wherein the top 2 teams from each cluster will be selected for the final basis their presentation. Bringing an element of surprise in its 4th edition, among participants identified from 27 business schools, this year wild card entries from non-participating schools are also welcome. Participants from any B-school can sign up for this from all over the country. The cluster winners and runners-up will get a Mi Soundbar and Redmi SonicBass Wireless Earphones along with a PPI offer respectively, whereas campus winners stand a chance to win PPI offers.

Launched in 2019, over 7000 students have participated in Mi Summit to date. In the 3rd edition, Xiaomi India reached out to 25 Business schools and saw a participation of 3000+ students. 'Team HS' from IIM Ranchi were the winners, whereas 'Team Crusaders' from XLRI were the runners-up.

Xiaomi Corporation

Xiaomi Corporation (“Xiaomi”) was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core. Embracing our vision of “Make friends with users and be the coolest company in the users’ hearts”, Xiaomi continuously pursues innovations, high-quality user experience, and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology. Xiaomi is one of the world's leading smartphone companies. The company has also established the world’s leading consumer AIoT (AI+IoT) platform, more than 478 million smart devices connected to its platform (excluding smartphones, laptops, and tablets) as of March 31, 2022. Xiaomi products are available in more than 100 countries and regions around the world. In August 2022, Xiaomi was included in the Fortune Global 500 list for the fourth year in a row, ranking 266th.

Xiaomi India is the number 1 smartphone player since Q3 2017 IDC Quarterly Mobile Phone Tracker report.

Xiaomi India is the number 1 Smart TV brand since Q2 2018 IDC Worldwide Quarterly Tracker.

Triumph International India Launches Their First Exclusive Retail Store In Pune

* With this store, the brand is all set to charm customers with a great experience & wide product range across Triumph and sloggi brands~

Triumph International India, one of the world’s leading intimate apparel brands, has inaugurated its first exclusive standalone retail store in Pune at Phoenix Marketcity, Viman Nagar today. 

The charismatic actress, Mrunal Thakur inaugurated the new store that hosts both their brands Triumph and iconic bodywear brand sloggi, introduced by Triumph International India recently. 

Photo Caption:: Santhosh Sivaramakrishnan (Commercial Director, India & Sri Lanka, Triumph International) along with Actress Mrunal Thakur inaugurate Triumph and sloggi's first exclusive retail store in Pune.

Garware Hi-Tech Films Limited Clocks 21% Growth In Q1 Revenue

Highlights: Q1 FY23 Consolidated

Revenues up by 21% at Rs 370 crores VIS-À-VIS Rs 306 crores in Q1 FY22

EBIDTA up by 7% at Rs 71 crores VIS-À-VIS Rs 66 crores in Q1 FY22 PAT up by 24% at Rs 45 crores VIS-À-VIS Rs 36 crores in Q1 FY22

Garware Hi-Tech Films Limited (GHFL) (formerly known as Garware Polyester Limited), the flagship company of Garware Group and a leading player in specialty  Polyester  Films in India and Worldwide announced results for the first quarter ended June 30, 2022.

The management’s vision and continued focus on unique products and value-added films, along with a  higher share of consumer products have further enhanced the company’s growth trajectory which is visible in its financial performance.

Commenting on GHFL’s journey, Shri S. B. Garware, Chairperson and Managing Director,  GHFL  said, “The company’s transitioning towards a B2C company providing highly specialized and value-added products in the marketplace is seen in its growth trajectory and the efforts put in over last few years are clearly visible in the financial results. GHFL continues to craft a unique position for itself in the marketplace with a variety of offerings catering to individuals and industry by leveraging on its technology and in-house expertise. During the current year, we are increasingly optimistic about growing our sales network of dealers, distributors, and applicators in key markets across geographies.”

“I am extremely delighted to report that our company continues to consolidate its position during the quarter under review as we continue to accelerate our topline growth momentum. On the export front earnings remain robust and the outlook for the year ahead continues to remain positive,” said Ms. Monika Garware, Vice-Chairperson, and Jt. Managing Director, GHFL.

About Garware Hi-Tech Films Limited (GHFL)

Garware Hi-Tech Films Limited (BOM: 500655) (NSE: GRWRHITECH) is the flagship company of the Garware group co-promoted by Chairman and Managing Director Shri S.B. Garware in the year 1957 along with the Founder-Chairman Late Padmabhushan Dr. B. D. Garware.

GHFL manufactures Hi-Tech specialty performance polyester Films and has its state-of-the-art manufacturing facility at Aurangabad, Maharashtra, India. GHFL is the pioneer and one of the largest exporters of Polyester Films in India. GHFL has been a winner of top exporters’ awards for 33 continuous years from PLEXCOUNCIL.

GHFL manufacturing facility at Aurangabad is vertically integrated, from the manufacture of polyester chips to polyester film finished products with four independent manufacturing lines and a  business that spans globally. Polyester Films manufactured by GHFL are used for a variety of end applications.

GHFL also manufactures various coated products and co-extruded products for specialty applications, apart from its capacity to design the recipe for raw material of PET films to suit the end application of the product. The company has developed surface-protection films and Paint Protection Films designed to deliver the highest level of protection and impact resistance which have applications in many sectors.

FADA Releases July’ 2022 Vehicle Retail Data Across Indian Market

Highlights

On YoY basis, total vehicle retail for the month of July’22 saw a dip of -8%. 3W and CV were the only segments which closed positively by growing 80% and 27%. 2W, PV and Trac saw lower retail by decreasing -11%, -5% and -28% respectively.

When compared with July’19, a pre-covid month, total vehicle retails fell by -20%. PV and Trac continued to outperform by growing 19% and 7%. All the other categories were in red with 2W, 3W and CV falling by -28%, -15% and -4% respectively.

July saw erratic monsoon across most of the states. While west, central, and south India majorly faced excess rainfall, Gangetic plains and eastern India witnessed deficient rainfall.

Erratic monsoon also led to decreased Kharif sowing as area under paddy dipped by 13% at the end of July. Tractor sales which were showing good growth until a month ago hence saw a big dip in July.

With the risk of Taiwan- China tussle, threat of semi-conductor shortage is once again looming.

The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for July’22.

July’22 Retails

Commenting on how July’22 performed, FADA President, Mr. Vinkesh Gulati said, “Continuing with our quest of a deeper insight in Auto Retail figures, FADA for the first time has released 3W sub-segment retail figures. After breakup of the CV segment, the 3W sub-segmentation will help all the stake holders understand the 3W market in much detail.

Auto Retail for the month of July’22 fell by -8%. July is generally considered as a lean month before festival season hits in August.

When compared with July’19, a pre-covid month, total vehicle retails fell by -20%. PV and Trac continued to outperform by growing 19% and 7%. All the other categories were in red with 2W, 3W and CV falling by -28%, -15% and -4% respectively.

The 2W retail run witnessed poor demand as Rural India continues to underperform. This coupled with high inflation, erratic monsoon and high cost of ownership continues to keep bottom of the pyramid customers at bay.

The 3W space continued to see demand recovery even though full recovery to pre-covid levels is still some time away. Digging deeper, it is clearly evident that e-rickshaws is the biggest mover in the segment. Demand recovery in 3W passenger category also shows that covid is now behind us as passenger movement has once again started gaining traction.

CV retail figures continue to witness good demand as Government’s infrastructure push is helping customers in concluding their purchase. Apart from this, the Bus segment also witnessed beginning of demand recovery as educational institutions and offices are once again back to normal mode.

The PV segment is witnessing a dream run as retail sales are already higher than 2019. Even though there is a blip in July numbers, the industry is continuously introducing new models especially in Compact SUV segment. Along with this, a better supply in coming months will help in bringing down customer anxiety due to large waiting period. We also urge all PV OEMs to recalibrate their supplies as per the market demand and avoid pushing low moving stocks.”

Near Term Outlook

July saw erratic monsoon where some states got less rainfall while others got more than required. The unfavourable weather resulted in decreased Kharif sowing as area under paddy dipped by 13% at the end of July. Tractor sales which were showing good growth till a month ago hence saw a big dip in July.

After Russia- Ukraine war, the world is once again facing the threat of Taiwan- China war. Due to this, the threat of semi-conductor shortage is once again looming as chip-maker TSMC raises red flag that if war hits, Taiwanese chip manufacturers would be rendered ‘non- operable’.

India’s services sector PMI (purchasing manager’s index) fell to 4-month low in July to 55.5 showing that growth momentum lost steam as result of weaker sales growth and inflationary pressure in previous month.

Overall, FADA remains cautiously optimistic due to the above factors as it enters the festival season. 

Key Findings from our Online Members Survey

Inventory at the end of July’22

Average inventory for Passenger Vehicles ranges from 20 – 25 days

Average inventory for Two – Wheelers ranges from 20 – 23 days

Liquidity

Neutral               49.4%

Good                 32.1%

Bad                      18.5%

Sentiment

Neutral              47.5%

Good                   35.8%

Bad                      16.7%

Expectation from August

Growth               61.7%

Flat                      27.8%

De-growth         10.5%

Jaguar Land Rover Prepares For Advanced Electrified And Connected Future With New Testing Facility

 

* Jaguar Land Rover investing for electrified and connected cars future

* Laboratory in Gaydon, UK, will help meet current and future legislation and quality standards

* New Range Rover Sport was the first vehicle to undergo a bespoke testing programme

* Electromagnetic Compatibility testing is increasingly important in vehicle development due to greater electrification and new connectivity technologies

Jaguar Land Rover has taken another step towards a new era of electrification and connectivity by opening a facility to test the next generation of vehicles for electrical and radio interference.

The Electromagnetic Compatibility (EMC) laboratory at Gaydon in the UK, will ensure future vehicles meet current and future legislation and quality standards for connectivity and electronics. New Range Rover Sport, which launched in May, was the first vehicle to undergo a bespoke testing programme at the in-house facility.

A critical aspect of vehicle performance, EMC is the ability of electrical equipment and systems to function correctly in their electromagnetic environment. It works by limiting the unintentional generation, propagation and reception of electromagnetic energy to reduce the risk of unwanted effects such as electromagnetic interference.

Jaguar Land Rover’s new vehicle laboratory features two anechoic chambers: an electrically ‘quiet’ rolling road that enables engineers to test vehicles at speed, as well as equipment to assess the performance of individual components, such as batteries or electric motors. Bluetooth, GPS, WiFi, 4G, 5G, adaptive cruise control, wireless charging and blind spot monitoring are all examples of vehicle services and features that the facility will test for EMC.

Peter Phillips, Senior Manager, Electromagnetics and Compliance at Jaguar Land Rover, said: “The importance of testing our vehicles for electromagnetic compatibility cannot be underestimated. Opening this new testing facility is an important step forward for the business and it will play a crucial role in helping us deliver quality, legal, and customer satisfaction.”

With industry advances set to increase the number of electric powertrains and the range of digital and cloud-based services on vehicles, from Software-Over-The-Air updates to autonomous technology, testing for EMC is crucial to delivering quality, legal, and customer satisfaction. This new facility demonstrates Jaguar Land Rover’s commitment to giving customers the most advanced in-vehicle connectivity as the business accelerates electrification through its Reimagine strategy.