IOL Chemicals And Pharmaceuticals Reports Positive Q1 FY23 Results

·   Net profit of the Company at Rs 34.9 Cr against Rs. 27.8 Cr QoQ and Rs. 67 Cr YoY

·   Total Income stood at Rs 570.2 Cr against Rs. 579.4 Cr QoQ and Rs 524.2 Cr YoY

·   EBITDA at Rs. 61.2 Cr as compared to Rs. 50.1 Cr QoQ and Rs 115.9 Cr YoY

IOL Chemicals and Pharmaceuticals Limited, a leading manufacturer of pharmaceutical (APIs) and specialty chemicals reported results for the first quarter ended June 30, 2022 as highlighted indicate:

Commenting on the performance of the Company during the quarter, Dr Sanjay Chaturvedi, Executive Director & CEO said, “Over the next few years, our focus will be on diversifying into other speciality chemical products and increase the share of non-Ibuprofen business. The investment planned in setting up a new plant will aid the Company in strengthening its position in both, Domestic and Export markets, thereby helping in improving our market share. Over the course of next few quarters, the Company’s plan to explore new geographies and de-risk the business with continuous backward integration model will play out leading to improvement in revenue as well as profitability.”

“Various business challenges of softening demand, rising inputs costs and volatility in chemical prices are slowly getting normalised as can be seen from recovery in EBITDA margins. However, we believe that the challenges are a temporary phenomenon. The robust global demand on specialty chemicals fronts owing to shift in market share from China would benefit the sector over next few years”, Dr Chaturvedi said.

As one of largest manufacturers of Ethyl Acetate, the Company will strengthen its position in the ‘green solvent’ market by increasing its capacity by 20% to 120,000 MTPA from 100,000 MTPA before the end of current fiscal. The investment of Rs 15 Crore for this capex is being funded through internal accruals only. Ethyl Acetate is widely used in Printing & Packing Industry, Adhesives, Agrochemicals & Pesticides industry, pharmaceuticals industry and cosmetics industry. The Company will also be making further in-roads into western markets of India through a new plant for specialty chemicals and pharmaceuticals intermediates. This project, which is expected to be completed in 18 months, will require investment of Rs 300 crore. Through this plant, the Company’s objective is to increase its market share in the domestic market as well as cater to international customers.

About IOL Chemicals and Pharmaceuticals Limited (IOLCP)

Company was established in 1986, listed on National Stock Exchange of India Ltd (Code: IOLCP) and BSE Ltd (Code: 524164) is one of the leading pharmaceutical (APIs) Company and is significant player in the specialty chemicals space with world class facilities. IOLCP has wide presence across major therapeutic categories like, Pain Management, anti-convulsants, antidiabetes, anti- cholesterol and anti-platelets.

The Company’s product portfolio includes APIs; Ibuprofen, Metformin, Fenofibrate, Clopidogrel, Lamotrigine, Pantoprazole, Paracetamol and specialty chemicals such as Ethyl Acetate, Iso Butyl Benzene, Mono Chloro Acetic Acid and Acetyl Chloride.

Company is World’s largest producer of the Ibuprofen with an installed capacity of 12,000 TPA and having backward integrated manufacturing facility. The Company has DSIR approved R&D which is fully equipped to validate existing processes.

The Central and State Government approved Effluent Treatment Plant (ETP) had been set up with Zero Liquid Discharge (ZLD) system along with 17 MW captive Co-Generation plant for self -reliance. The Company is ISO 9001:2015, 14001:2015 and BS OHSAS 18001:2007 certified.

IOLCP's overseas customers are spread out across several countries including UK, Belgium, Hungry, Spain, Germany, Italy, Netherlands, Switzerland, Poland, Ireland, USA, Peru, Brazil, Argentina, Colombia, Indonesia, South Korea, Thailand, Bangladesh, Turkey, U.A.E., China, Hong Kong, Egypt etc. Products are sold primarily to Branded Generic formulators both in India & Overseas.

Tata Motors, State Bank of India Join Hands, Offer Electronic Dealer Finance Program To Authorized Tata Passenger Electric Vehicle Dealers

Key Highlights:

* First-of-its kind Electric Vehicle Inventory Financing program by a Public Sector Bank for Tata Motors’ EV dealers

* Dealer finance limits towards Electric Vehicles for Tata Motors authorised Passenger Electric Vehicle dealers

In a bid to make this festive season special, Tata Motors, India’s leading automotive manufacturer has joined hands with State Bank of India, India’s largest bank, to offer Electronic Dealer Finance solution (e-DFS) to its authorized passenger EV dealers.

Commenting on the rollout of this finance scheme offer, Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd., and Tata Passenger Electric Mobility Ltd. said, “To ensure we have faster EV adoption in the country, it is very important to have a strong network and empowered channel partners. By partnering with State Bank of India, we have taken another step in this direction. They are India’s largest public sector bank with an extensive network and we are delighted to partner with them. We want to provide an exclusive financing program to our authorized electric passenger vehicle dealers, who will play an important role in driving the green mobility mission, bolstering sustainability in the country.”

Speaking of this partnership, Mr. Dinesh Khara, Chairman, State Bank of India said, “We are delighted to enter into this agreement with Tata Motors, as this gives us an opportunity to deepen our longstanding partnership in Dealer Finance program. This also offers us the satisfaction of being able to contribute towards a greener tomorrow, as these lines of credit will be available for financing authorised dealers of Tata Motors’ Passenger Electric Vehicles. We are confident that this would go a long way towards promoting EV culture and adoption in the country.”

Tata Motors has been revolutionizing the Indian automotive market with its pioneering efforts and is leading the e-mobility wave in India with a commanding market share of 89% in Q1 FY23. India currently has and over 30,000 Tata EVs on road in personal and fleet segments. 

Celebrate India’s Journey On The 75 Years Of Independence On Netflix

75 years since India rose as an Independent republic- we have been strengthened by our diverse cultures, languages, and customs, and indomitable stories that have held our heads high!  This year, rekindle the joyous emotions of victory, valour, and variety with some of the most loved and unique stories on Netflix that honor the joy, pride and freedom of India - from popular cult-films, family classics, slice-of-life stories to biopics.

’83

Firsts are always special right? Picture a first that just didn’t break shackles, but heralded the arrival of World Champions India!. Relive the historic 1983 World Cup campaign, led by Kapil Dev and team. Directed by Kabir Khan, this rousing sports drama takes you through the thrilling underdog journey of the Indian cricket team to win India’s first ever World Cup, starring Ranveer Singh in a show-stealing performance.

Major (Telugu)

Major is a soul-stirring biopic based on the life of the late Major Sandeep Unnikrishnan who was martyred in action during the November 2008 Mumbai attacks. Uncover the story of the real-life hero with writer-actor Adivi Sesh who delivers a magnetic performance, supported by an outstanding cast including Revathi, Prakash Raj and Sobhita Dhulipala.

Mighty Little Bheem: I Love Taj Mahal

This charming animated special follows the adventures of Bheem, as he visits one of the seven wonders of the world and India’s iconic landmark, Taj Mahal, with his family. Explore the world of Indian culture, brought to life by lots of colors, great animation and melodious music as Bheem makes a new friend and helps her find her lost teddy bear before someone steals it.

Minnal Murali (Malayalam)

This Malayalam superhero movie is sure to take you on a delightful ride through the heartlands of Kerala. Starring the very talented Tovino Thomas, Minnal Murali is an origin story of an ordinary man-turned-superhero Murali, who is struck by a bolt of lightning, which bestows him with special powers.

Navarasa (Tamil)

A nine-part anthology film, helmed by veteran filmmakers Mani Ratnam and Jayendra Panchapakesan, brings nine short films about nine human emotions to life. Navarasa, immersed in the nine rasas (emotions) brought together by many leading icons of the industry is a must watch this Independence Day.

Shabaash Mithu

Taapsee Pannu displays her acting prowess in the biopic of Mithali Raj, the former captain of the India women’s national cricket team. Based on her struggles to pursue her dream of becoming a cricketer, this film, directed by Srijit Mukherji, is a matter of pride and an inspiration for all.Shabaash Mithu will be available on Netflix on August 15th.

The Disciple (Marathi)

Directed by Chaitanya Tamhane and starring Aditya Moda, the story follows the character of  Sharad Nerulkar as he finds himself questioning his traditions and discipline in his quest to become the best Indian classical music vocalist. From the award-winning screenplay to the mind-blowing cast performances and impeccable direction, there is nothing that you won’t love about this one.

Lagaan

Considered to be one of the greatest Indian films ever made, this Academy Award nominated sports drama starring Aamir Khan has all the ingredients of a timeless entertainer. It has a melodious soundtrack, stunning visuals and is filled with rousing drama that will keep you hooked every time you watch!

Lakshya

There are movies that entertain you and then there are movies that inspire you. Lakshya does both so well. This Hrithik Roshan starrer is the story of an aimless boy who finds his true purpose after enlisting in the Indian Army as a soldier still resonates with viewers.

AU Small Finance Bank Raises Total Capital Of Rs 2,500 Crore By Issuing 10-Year Subordinated Bonds

* Largest capital raise in the Bank’s history was oversubscribed multiple times – Equity by 4x and Tier-II capital by 2x 

* The fresh capital will be used to support the Bank’s growth plans over the medium term and takes the Bank’s capital adequacy ratio (CRAR) to over 25% 

AU Small Finance Bank Limited (AU Bank), India’s largest small finance bank by assets announced the successful completion of a total capital raise of Rs 2,500 Cr comprising of Tier I capital of Rs 2,000 Cr and Tier II capital of Rs 500 Cr. This takes the Bank’s overall capital adequacy ratio (CRAR) from 19.4% to 25.7% (as on 30th Jun 2022 on pro-forma basis). The fresh capital will be used to support the Bank’s growth plans over the medium term and will help maintain sufficient headroom over and above the regulatory capital adequacy requirements. 

The QIP Issue of ?2,000 Cr (~USD 253mn) was launched on 3rd August 2022 at a price band of Rs 570 - Rs 590 per share and witnessed strong demand from both Foreign Institutional Investors (FII) & Domestic Institutional Investors (DII), and the QIP issue was oversubscribed 4x with bids crossing USD 1.01Bn and strong interest from marquee investors like sovereign wealth funds, large foreign portfolio investors, global asset managers, domestic insurance companies and mutual funds. The Capital Raising Committee (CRC) of the Bank fixed the issue price at Rs 580 per share and approved allotment of 3,44,82,758 (Three Crores Forty-Four Lakh Eighty-Two Thousand Seven Hundred and Fifty Eight) Equity Shares of face value Rs 10 each to 67 (sixty seven) allotted bidders.   

Post converting into a Small Finance Bank in April 2017, this is the third and the largest primary equity capital raise by the Bank after raising Rs 1,000 Cr from Temasek in 2018 and 2019 via preferential issuance and Rs 625.5 Cr through Bank’s first QIP in March 2021.   

AU Bank also raised Tier II capital via private placement of unsecured, subordinated, rated, listed, redeemable, non-convertible lower Tier II bonds in the form of Non-Convertible Debentures (NCD). The issue opened on 2nd August 2022 at a base size of Rs 400 Cr with a Greenshoe option of Rs 200 Cr and the issue witnessed strong reception from Qualified Institutional Buyers (QIBs) like mutual funds, insurance companies, banks, etc. resulting in 2x oversubscription with final bids of Rs 1,110 Cr The bank eventually issued bonds for Rs 500 Cr retaining a Greenshoe option of Rs 100 Cr. The issue was rated ‘AA/Stable’ by CRISIL & CARE Ratings.   

Speaking on the occasion, Mr. Sanjay Agarwal, MD & CEO, AU Small Finance Bank said, “I am overwhelmed and humbled by the response of investors to the successful completion of Rs 2,500 Cr of capital raise with a mix of Rs 2,000 Cr Tier I capital and Rs 500 Cr of Tier II capital issuance amid the volatile market conditions. I am deeply grateful to all our existing shareholders for their participation in this issue and also welcome all the incoming newer investors – both FIIs and domestic investors, for their confidence in us and in supporting our growth plans. Our objective remains to build a best-in-class tech-led retail bank in India with a very sustainable business model and the fresh capital will significantly help us in that journey. With a post-issue CRAR of over 25% (pro-forma basis) coupled with sustained demand from the segments we cater to, and stable asset quality, we are well positioned to grow and take advantage of the tremendous opportunity that market provides us with. I remain a strong believer that this decade will be India’s and hope that the success of our QIP and Tier II issue and the overwhelming demand from FIIs will augur well for the overall sector”. 

About AU Small Finance Bank:  

AU Small Finance Bank Limited (AU Bank) is a scheduled commercial bank, a Fortune India 500 Company, and the largest Small Finance Bank in the country. Starting its journey from the hinterlands of Rajasthan, today AU Bank is the largest Small Finance Bank with a deep understanding of the rural and semi-urban markets that has enabled it build robust business model facilitating inclusive growth. With 27+ years legacy of being a retail focused and customer-centric institution, AU started its banking operations in April 2017 and as on 30th June 2022, it has established operations across 953 banking touchpoints while serving 30.7 Lakh customers in 20 States & 2 Union Territories with an employee base of 29,883 employees. The Bank has a net worth of Rs 7,789 Cr, deposit base of Rs 54,631 Cr and Assets Under Management (AUM) of Rs 50,161 Cr as on 30th June 2022. AU Bank enjoys the trust of marquee investors and is listed on both the leading stock exchanges viz. NSE and BSE. It has consistently maintained a high external credit rating from all major rating agencies like CRISIL, CARE Ratings and India Ratings. 

Nucleus Software Sees Returns On Focus On Operational Excellence In Global Projects While Announcing Its Q1 Results (2022-23)

* Revenue in Q1 2022-23 at Rs.128.84 Crore on a consolidated basis

*  PAT in Q1 2022-23 at Rs.10.77 Crore on a consolidated basis

*  EPS at Rs. 4.92 on a standalone basis and Rs. 4.02 on a consolidated basis

Nucleus Software, the BSE & NSE listed, leading provider of lending and transaction banking solutions to the global financial services industry, has taken some extremely bold steps to ensure long term growth while announcing its financial results for the Quarter ended June 30, 2022.

The revenues on a consolidated basis are at Rs.128.84 Crore for the quarter ended June 30, 2022, as against Rs.108.44 Crore in Q1 of 2021-22.

PAT in Q1 of 2022-23 stood at Rs.13.17 Crore on a standalone basis as against Rs. 6.05 Crore in 2021-22. The PAT on consolidated basis was at Rs.10.77 Crore, as against Rs. 6.00 Crore in Q1 of 2021-22. 

The basic EPS on standalone basis during this period was Rs. 4.92 as against Rs. 2.08 in 2021-22. The EPS on consolidated basis stood at Rs. 4.02 in Q1 of 2022-23 as against Rs. 2.07 in Q1 of 2021-22.

“Due to the IP centricity of our business model, we will ride the wave that approaches with the global economic ripples. In addition, the measures taken by our company on the personnel front are leading to a reduced attrition. The freshers we had hired in the previous years have already started contributing to our revenue generating projects. We plan to continue strengthening our company’s culture by inducting an equally large number of freshers this year as well”, says Mr. Vishnu R Dusad, MD, Nucleus Software.

“In addition to the deep domain expertise our colleagues have in the field of Banking and Financial Services, as well as the cutting-edge technological platforms we have built, our company’s focus on operational excellence has helped us go live with some of the most complex implementations at a global scale in the last quarter. We continue to add various feathers to our cap of implementations of FinnOne Neo as well as FinnAxia, our flagship products. This success is reflected in our quarterly results”, says Mr. Parag Bhise, CEO, Nucleus Software.

About Nucleus Software

Nucleus Software Exports Ltd. is a, publicly traded (BSE: 531209NSE: NUCLEUS), software product company that provides lending and transaction banking products to global financial leaders. 

Nucleus Software powers the operations of more than 200 Financial Institutions in over 50 countries, supporting retail lending, corporate banking, cash management, mobile and internet banking, automotive finance and other business areas. Its products facilitate more than 26 million transactions each day, managing over US $ 200 billion of loans and enabling more than 200,000 users logging in daily.

Nucleus Software’s flagship products, built on the latest technology are:

·         FinnOne NEOTM: The next-generation digital lending solution that is built on an advanced technology platform, designed to shape the future of lending across Retail, Corporate and Islamic sectors for banks and other financial service companies. The 10-time winner of ‘World’s Best Selling Lending Solution’, helps digitize the complete loan lifecycle.

·         FinnAxiaTM: An integrated global transaction banking solution used by banks worldwide to offer efficient and Innovative global payments and receivables, liquidity management and business internet banking services.

·         PaySeTM: The world's first online & offline digital payment solution designed and created with an aim to democratize money by making banking services available to the unbanked in remote geographies.

Air India Strengthens Domestic Connectivity With 24 Additional Flights

* Network expansion to boost metro to metro connectivity

Air India, India’s leading airline, today announced an increase of 24 new flights on its domestic network with effect from August 20, 2022. The expansion in its domestic connectivity will cater to growing traffic between India’s major metros and facilitate convenient travel over the upcoming festive season. The strengthening of domestic connectivity has been enabled as more aircraft return to service.

The additional 24 flights include two new frequencies from Delhi to Mumbai, Bengaluru and Ahmedabad, and from Mumbai to Chennai and Hyderabad, as well as one new frequency on the Mumbai - Bengaluru route and Ahmedabad - Pune route.

These additions will provide flyers more travel options between key metros in the late afternoon and evening, and take Air India’s daily frequencies to 10 flights each way between Delhi – Mumbai, 7 flights each way between Delhi - Bengaluru,  4 flights each way  between Mumbai - Bengaluru, and Mumbai - Chennai and 3 flights each way on Mumbai - Hyderabad and Delhi - Ahmedabad routes.

Commenting on the network expansion, Mr. Campbell Wilson, MD and CEO, Air India, said, “This expansion bolsters connectivity between key metros, and improves connectivity between Air India’s domestic and international networks. Over the past six months, Air India has been working closely with our partners to return aircraft to service, and we are delighted that this effort is now bearing fruit.”

Air India’s narrowbody fleet currently stands at 70 aircraft, of which 54 are currently serviceable.  The remaining 16 aircraft will progressively return to service by early 2023.

Tata Punch Achieves A New Milestone In The Indian Market

* Becomes the fastest SUV to reach 1,00,000 sales mark  

Tata Motors, India’s leading automotive brand, today rolled out the 1,00,000th unit of Tata Punch, India’s first sub-compact SUV, from its manufacturing facility in Pune. The Tata Punch has set a new benchmark in the industry, by becoming the first SUV to achieve this milestone in a span of 10 months, since its launch in October 2021. It has received a phenomenal response from customers for its stunning design, robust performance and best-in-class 5 star safety.

Tata Punch is the youngest member of the ‘New Forever’ range and comes with remarkable features such as a 7-inch touchscreen system, digital instrument cluster, auto AC, automatic headlights, connected car tech, and cruise control. Offering the agility of a hatch with the DNA of an SUV, Tata Punch has been a part of top 10 highest-selling cars in India consistently.

Commenting on this milestone, Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, “We are delighted to share that Punch has achieved the 1 Lakh sales mark within a short span of 10 months. It is one of the highest selling SUV from our ‘New Forever’ portfolio. This achievement speaks highly of the strong response from customers and we are very thankful to them for their continued trust. The Punch is our second product based on the ALFA architecture and has successfully established its popularity by creating a new segment and thereby reinforcing the four core pillars of a true SUV - Stunning Design, Versatile and Engaging Performance, Roomy and Spacious Interiors and Absolute Safety. We are confident that the Punch will continue to receive love from customers and will keep redefining the SUV experience through its performance.”

Since its launch in 2021, Tata Punch is known for its distinctive personas that embrace diversity while remaining committed to its vibe. The Punch offers a wide array of options at different price points to choose from, catering to a wide spectrum of consumer needs. Punch sales were the highest ever in July’22 at 11,007 units.

Powered by a 1.2-liter petrol engine, it delivers an outstanding fuel efficiency of 18.82 kmpl in Manual and 18.97 in AMT. Offered in both MT and AMT transmission options, the Punch is India’s safest sub-compact SUV with 5 Star GNCAP rating. The car is available in 8 colors, as well as in dual tone options. With features such as projector headlamps with LED DRLs, LED tail lamps, rain-sensing wipers, auto-fold ORVMs, 16-inch diamond-cut alloys, 7-inch touchscreen infotainment system, automatic temperature control, semi-digital instrument cluster amongst other features, the Punch aims at providing the utmost comfort. Furthermore, it also includes the iRA connected car technology, which offers over 25 features, making the car a complete package for its customers.

To know more about offers and car buying options, call your nearest dealership or visit https://cars.tatamotors.com/