Aditya Birla Fashion And Retail Posts Highest Ever Quarterly Revenues With 50% Growth YoY; PAT Rises ~6 Folds

Aditya Birla Fashion and Retail has posted yet another outstanding quarterly performance. The company posted its highest-ever quarterly sales in Q2FY23 at Rs. 3075 Cr, up 50% YoY and 33% over pre-COVID levels. Strong performance across business segments led to a 24% YoY growth in EBITDA to Rs.418 Cr. Robust Like-to-Like and consistent E-commerce performance have been key drivers of growth in the quarter.

The key highlights of the quarterly performance are as follows:

Aggressive network expansion across brands, with Pantaloons adding 21 stores on a net basis and the Branded business adding 85 stores.

E-commerce sales grew 24% YoY across the portfolio

Consistent enhancement of Omni-channel coverage at over 1600 stores

Closed the quarter with net debt of Rs. 243 Cr. at consolidated level against Rs. 504 Cr. at the end of March’ FY22.

Lifestyle Brands: Best quarter for the branded portfolio as revenue grew 45% YoY (34% over pre-COVID levels) to reach Rs. 1680 Cr on the back of industry-leading retail L2L growth of 27%.

Pantaloons: Business achieved highest-ever quarterly revenues to grow 64% YoY to Rs. 1094 Cr. EBITDA margins now ahead of pre-COVID levels.

100 Days TO Ace Hyderabad E-Prix: The Countdown Begins To India’s First Formula E Race

·        Formula E’s first ever E-Prix in India will take place at a new street circuit in Hyderabad on February 11th, 2023

·        A Formula E car was unveiled and on display at the launch in New Delhi

·        The four-year association between Formula E, Government of Telangana and Ace Nxt Gen ensures the championship will take place in India until 2026, starting from 2023

·        Accelerated by Greenko, the 2023 Ace Hyderabad E-Prix will also be the first ever net zero carbon motorsport event in the country

The ABB FIA Formula E World Championship, accelerated by Greenko - the world’s leading energy transition and decarbonization solutions provider - is all set to debut in India, with Hyderabad being the host city.

To further build anticipation amongst fans, the 2023 Ace Hyderabad E-Prix today started a 100-day countdown untill 11th of February 2023, by previewing a Formula E show car in New-Delhi. The year 2023 marks the first year of India being one of the host countries for the world championship and will continue to do so until 2026.

The initial countdown was kicked off in the august presence of Shri Hardeep Puri, Hon’ble Minister of Petroleum and Natural Gas of India, Shri Amitabh Kant, Former CEO of Niti Aayog, Mr. Alberto Longo, Co-founder, and Chief Championship Officer at Formula E, Shri Anil Kumar Chalamalasetty, Founder of Ace Nxt Gen, CEO & MD of Greenko Group and Shri Arvind Kumar I.A.S. Special Chief Secretary, MA&UD representing Govt. of Telangana.

The ABB FIA Formula E World Championship has successfully enthralled global fans for eight seasons (years) now, completing 100 races in 21 cities. The championship focuses on accelerating the development, awareness and uptake of electric vehicles around the globe. For the coming season, Formula E fans will see 11 teams and 22 drivers racing the new Gen3 around the most iconicic world cities, including the Mahindra Racing Formula E team, part of the Indian-based Mahindra Group.

Hyderabad being one of the host cities will witness round 4 of the total 17 races for Season 9 of the championship taking place between January and July 2023. Fans will witness the electric Gen3 Formula E cars race past on the city circuit around the famous Hussain Sagar Lake.

Shri. K.T Ramarao, Hon'ble Minister of IT, Municipal Administration and Urban Development, Government of Telangana conveyed from Hyderabad that, “It is an honour for us to welcome racing enthusiasts across the world for the Formula E championship in the city. It is also a proud moment for us, as Hyderabad is one of the 13 world-cities where the races are scheduled. Moreover, it is also aimed at raising awareness and inspire change in sustainable practices and adopting EVs in the state.”

Mr. Alberto Longo, Co-Founder and Chief Championship Officer, Formula E said, “We are thrilled to bring the ABB FIA Formula E World Championship to India for the very first time and showcase our new Gen3 car to a thriving new audience. It has been a must have destination for us for some time, and so we cannot wait to be racing in Hyderabad on the 11th February. 

“India has a large and passionate Formula E fan base that continues to grow, and with the involvement of Mahindra Racing local fans have a home team to get behind and support. Racing in Hyderabad, one of India’s foremost technological hubs, is also the perfect location to not only display high-performance racing and cutting edge innovation, but educate people on the adverse effects of climate change and how the development and adoption of electric vehicles is part of that solution.”

Anil Kumar Chalamalasetty, Founder of Ace Nxt Gen and CEO & MD of Greenko said, “We are excited about hosting the planet’s favourite sport and India’s first ever Formula E Race in partnership with Govt of Telangana and support from the Govt of India. We share Hon’ble PM Shri Modi Ji’s bold and courageous vision to combat climate change and building the country as a reliable, sustainable source of technologies to propel global decarbonisation. Being a Hyderabadi, I’m delighted that my city which is one of the world’s greenest cities will host the greenest race, under the dynamic leadership of Minister K T Rama Rao. With just 100 Days to go for the first Net Zero carbon race, we will accelerate our race to ensure that India Drives the future of sustainability and decarbonisation.”

Hyderabad city, recipient of the “World Green City Award 2022”, brings innovation to the forefront in its pursuit to be the biggest tech hub in India. Formula E is the world’s only certified net zero carbon sport from inception, with the Hyderabad E-Prix becoming India’s first net zero motorsport event. Using the vision of sport, Formula E is sending a powerful and meaningful message to help alter perceptions and speed up the switch to electric mobility operating as a testbed to push the development of new technologies needed for an electric, low-carbon future. As a part of its core vision Ace Nxt Gen is accelerating its efforts to win the race against climate change and achieve Net Zero goals through innovative solutions. Formula E – the Planet’s favourite sport - is coming to India, accelerated by Greenko in partnership with the Government of Telangana.

About Formula E World Championship:

As the world’s first all-electric FIA World Championship and the only sport certified net zero carbon since inception, the ABB FIA Formula E World Championship brings dramatic racing to the heart of some of the world’s most iconic cities providing an elite motorsport platform for the world’s leading automotive manufacturers to accelerate electric vehicle innovation.

The Formula E network of teams, manufacturers, partners, broadcasters and host cities are united by a passion for the sport and a belief in its potential to accelerate sustainable human progress and create a better future for people and planet.

www.FIAFormulaE.com

For Formula E media enquiries, contact - media@fiaformulae.com

About Ace Nxt Gen:

Ace Nxt Gen is the official promotor of the Formula E Race in India in partnership with Formula E and Government of Telangana. Ace Nxt Gen is founded by Mr. Anil Kumar Chalamalasetty.

Tata Motors Takes A Marginal Price Hike On Its Passenger Vehicles

Tata Motors, India’s leading vehicle manufacturer has announced a marginal price increase across its passenger vehicles. Effective November 7, 2022, weighted average increase will be 0.9%, depending on the variant and model.

The company has been absorbing a significant portion of the increased costs but the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike.

Hero MotoCorp Partners With Gurugram Police To Promote Women's Safety In India

Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, today handed over 50 motorcycles and 10 scooters to the Gurugram Police to enhance the mobility of police personnel responsible for ensuring the safety of women and controlling other crimes across the region.

As part of the company’s umbrella platform for Corporate Social Responsibility (CSR) - ‘Hero WeCare’ – the initiative fulfils its larger mandate of enabling safe and secure environments for women across the country.

Receiving the motorcycles and scooters at the Police Commissionerate here today, Mrs  Kala Ramachandran (IPS), Commissioner of Police, Gurugram, said “We are thankful to Hero MotoCorp for this support as it will improve the reach and efficiency of our officers on the ground. The motorcycles will be used by them for active patrolling in their respective areas of jurisdiction and will go a long way towards enhancing people’s overall security, particularly women’s safety. This will also include making emergency services available during road-related situations.” 

Bharatendu Kabi, Head of Corporate Social Responsibility (CSR) and Corporate Communication, Hero MotoCorp, said “As a responsible corporate citizen, Hero MotoCorp is committed to improving the overall wellbeing of the society, including women’s safety. We have been engaged in creating and spreading awareness on these key subjects through a series of initiatives at the national and regional levels. This support to Gurugram Police is a step forward in creating a safe environment and cementing a sense of security amongst all citizens, especially women. I am confident that the motorcycles and scooters will help in increasing the patrolling reach and speed of the team and ensure a quicker response time in case of emergencies.”

Hero MotoCorp – through its CSR platform ‘Hero We Care’ – has had a long-term commitment to the promotion of environment, road safety, women’s empowerment, healthcare, education and sports in the state of Haryana.

Birlasoft Appoints Angan Guha As New CEO And Managing Director

Birlasoft Ltd (BSE: 532400, NSE: BSOFT), a leading technology services and consulting company, announced today the appointment of Angan Guha as its Chief Executive Officer and Managing Director, effective December 1, 2022 (subject to regulatory approvals). Angan joins the Birlasoft Board as a full-time Director and will be based in the US.

Angan will provide strategic leadership to Birlasoft, driving significant scale and transformation. He will focus on building the organization through innovation to strengthen niche capabilities, enhance customer intimacy, and significantly expand the revenue base and profitability in high growth and strategic focus areas for Birlasoft.

Amita Birla, Chairman, Birlasoft said, “I am delighted to welcome Angan as CEO and Managing Director of Birlasoft. With Angan at the helm at this pivotal time, I believe we are well positioned to meet the changing demands of the business. His extensive experience in scale and business transformation, brand building, strong customer engagement, and building high-performing teams aligns well with our growth ambition. Our commitment to stakeholders remains unwavering, and we look forward to Angan steering Birlasoft to its next chapter of growth and value creation.

I thank Dharmender Kapoor for his valuable contribution to Birlasoft.”

Angan joins Birlasoft from Wipro, where he was the Chief Executive Officer for the Americas 2 Strategic Market Unit and served on its Executive Board and Group Executive Council. He has extensive experience leading large transformational engagements and building strong global teams.

About Birlasoft

Birlasoft combines the power of domain, enterprise, and digital technologies to reimagine business processes for customers and their ecosystem. Its consultative and design thinking approach makes societies more productive by helping customers run businesses. As part of the multibillion dollar diversified CK Birla Group, Birlasoft with its 12,500+ professionals, is committed to continuing the group’s 160-year heritage of building sustainable communities. For further information, visit www.birlasoft.com

FICCI ARISE Is Organizing Its Annual Flagship Conference For School Education On The Theme ‘Reboot-Re-imagine- Rebuild’ On Dec 9–10

As we move towards self-reliance, it is imperative for schools to develop an ecosystem that instills resilience, encourages innovation, promotes sustainability and equips our students to be ready to face the disruptive future. While the pandemic has already accelerated transformational change at the institutional level, it is important for other stakeholders including the government, industry, and society to work towards making systemic changes and build a robust, resilient, student-centric and futuristic school education system. Through this conference, FICCI ARISE aims to bring forth solutions whereby K-12 sector can work along with the government to make a definitive difference and complement our nation’s priorities to facilitate a mindset needed to drive future-oriented teaching and learning. The conference will witness participation of more than 500 delegates including state and central government officials, regulators, prominent educators, think tanks, consulting firms and institutions from across India.

On the side-lines of the conference, FICCI ARISE has also organised focused Master Classes on School Improvement Framework and School Safety and Child Protection. The conference also features world-class keynote speakers: proven experts with contributions that will take you on a journey far beyond conference theme, bringing new perspectives and new impulses for innovation. Additionally, this edition has an exciting opportunity to visit top of the line schools in Delhi/NCR region and gain exposure to successful pedagogical tools and practices & innovative learning spaces.

For more details write to us at ficciarise@ficci.com

Sahasra Hospitals Celebrating Six Years Of Excellence & Announcement Of Free Health Checkup Camp

Sahasra Hospitals has announced on the occasion of completing six years of successful operations, a free check-up camp on 15th, 16th & 17th November at hospital premises. The following diseases will be screened on these days from 10 am to 2 pm;

1. Hernia

Umbilical Hernia - Inguinal Hernia - After surgery Hernia

2. Stones

Gall Bladder Stone - Pancreatic Stone - Kidney Stone

3. Acid Reflux

4. Blood in Stool 

We will be doing free GRBS test free of cost and 40% discount on all laboratory investigation, Endoscopy & Colonoscopy procedure

Dr. Srikanth Gadiyaram, a well-known surgical gastroenterologist, left his full-time career in high-paying corporate hospitals to establish Sahasra Hospitals. Sahasra Hospital in Jayanagar, Bangalore is a Gastroenterology and Minimal Access Surgery Centre. It aims at providing affordable cost & care and personalized attention to patients. It strives for excellence in treating patients with digestive diseases. The hospital has completed six years of service successfully.

The hospital aims to keep in-hospital stay to a minimum for the patients. The common day-to-day procedures are laparoscopic surgery for gallstones, hernia, and heartburn (reflux). The patients get admitted only on the morning of the surgery for these procedures. The hospital also provides weight-loss surgery. Cancer surgeries of the food pipe, stomach, colorectal, liver, and pancreas are performed routinely.

The hospital also offers endoscopy procedures – both diagnostic and therapeutic. They include upper GI endoscopy, colonoscopy, and ERCP. Besides, minimal access surgeries in urology and gynecology are also performed.

"Experience of two decades and over 12000 operations provided the confidence to start a standalone GI center." With more than 2000 procedures performed in six years using state-of-the-art cutting-edge technology, at Sahasra Hospitals, Jayanagar, Dr. Srikanth believes his stand is vindicated.

"The need of the hour is to have multi-disciplinary coordination. We strive to get patients active as soon as possible after surgery. Thereby plan discharge at the earliest possible time. The hospital provides minimal access surgeries for 90% of problems. The hospital provides affordable, individualized care through proper integration with treating teams. The large corporate hospitals could bring all the auxiliary facilities under one roof. However, there is a striking lack of coordination, personalized care, and undue delays in treatment. Also, prohibitive costs pose serious challenges for patients. The Centre dispels the myth that complex operations need a large facility. "

About Sahasra Hospitals

* First hospital is the first in India to get the latest fluorescence guided laparoscopy system from ERBE, the German giant in surgical equipment

* Largest experience in scarless surgery in the state of Karnataka (SILS or ‘No scar surgery’ for gallbladder, Speen, colon and bariatric)

* Recognized by ERBE, India as the ‘National Reference Centre for Advanced Laparoscopy'

* Highest number of international publications in renowned peer-reviewed journals of any Centre in the state of Karnataka over the past two years 

* Clinical research and the advancement of science.

* Newer techniques in laparoscopy

* Collective experience in all aspects of gastroenterology including GI cancers, including the foregut, colorectal, liver, and pancreas

The mission of our hospital is to provide, affordable, personalized care with cutting edge technology by harnessing the skills of highly trained super-specialists in the field of Gastroenterology and Minimal Access Surgery.