Toyota Kirloskar Motor Promotes Holistic Approach To Green & Clean Vehicle Mobility In The “Ethanol Pavilion” At Auto Expo 2023

Toyota Kirloskar Motor (TKM) is taking part at “Ethanol Pavilion” in Auto Expo’23, emphasising the significance of multiple energy pathway approach towards achieving carbon neutrality. The Pavilion organised by The Society of Indian Automobile Manufacturers (SIAM) aims to promote awareness and accelerate the adoption of ethanol as an alternative fuel thereby helping the sector lower its dependence on fossil fuels.

The pavilion was inaugurated by Shri. Hardeep Singh Puri, Hon’ble Minister of Petroleum and Natural Gas and Housing and Urban Affairs and Shri Krishan Pal Gurjar, Hon’ble Minister of State of Power and Heavy Industries – Government of India. 

As champions of sustainability, globally, Toyota is committed to Carbon Neutrality by 2050 and aims to achieve Net Zero Carbon in Manufacturing Operations by 2035. Toyota is advancing greener mobility solutions with greater agility by introducing and supporting multiple clean technologies considering various factors such as India’s energy mix, its unique consumer profile and needs, infrastructure readiness, and the Government’s diversified efforts towards becoming ‘Atma Nirbhar’ in energy by 2047.

Sharing his expert views, Mr. Vikram Gulati, Country Head and Executive Vice President Toyota Kirloskar Motor, said, “Toyota will continue its relentless efforts and contribute to future innovations by sharing sustainable technological advancements in the green mobility space. Toyota believes that ‘carbon is the enemy’, and hence continues to offer wider choices to customers with various vehicle powertrain technologies, including Strong Hybrid Electric Vehicles (SHEV), Plug-in Hybrid Electric Vehicle (PHEV), Battery Electric Vehicles (BEV), Fuel-cell Electric vehicles (FCEV), Flex-fuel as well as Flex Fuel Strong Hybrid Electric Vehicle (FFV-SHEV), and other bio-fuel vehicles.  Given the Indian context, we foresee a huge potential for ethanol as it is an Indigenous and clean energy source, that can significantly reduce fossil fuel consumption. 

We are thrilled to be a part of the Ethanol Pavilion at Auto Expo 2023. Engaging in this inclusive initiative underlines the robust efforts by the Government and various key stakeholders in finding practical solutions that are best suited to promote energy security and green mobility in the country.” He added further.

As one of the most appropriate options, ethanol holds tremendous potential for India as it is an Indigenous and renewable - clean energy source, that can significantly reduce fossil fuel consumption, the energy import bill and carbon emissions. Being agriculture based, higher use of ethanol as fuel will also increase farmer incomes and create new jobs, thereby boosting the agrarian economy besides increasing revenue for the Government. The Government also recently launched second-generation technologies for producing ethanol from agricultural residues like Agriculture waste (parali), which is currently otherwise burnt.

India has already achieved 10% ethanol blending five months ahead of schedule. The implementation of 20% ethanol blending in petrol by 2025-26 is expected to substitute 86 million barrels of Gasoline, thereby leading to forex savings of Rs. 30,000 crores for India, as well as reducing 10 million tons of carbon emissions. Given the huge potential of ethanol production that exists up to and beyond E20, these benefits can increase multi-fold with the introduction of Flexi Fuel Vehicle (FFV) technology, that can flexibly use higher ethanol blends from 20% to 85%.

In India, Toyota recently launched the pilot project on Flexi-Fuel Strong Hybrid Electric Vehicle (FFV-SHEV) Technology and signed an MOU with the Indian Institute of Science, Bangalore. The initiative marked Toyota’s efforts to promote and create awareness on Ethanol as an important indigenous, carbon neutral energy pathway, along with the advanced Flexi-Fuel Strong Hybrid Electric Vehicle technology that can help India achieve true self-reliance and contribute towards the national target of Carbon Net-Zero by 2070. The collected data will be shared with the prestigious Indian Institute of Science, for conducting a deeper study about the well-to-wheel carbon emissions of FFV / FFV-SHEV in the Indian context.

At display, at the Ethanol Pavilion, is Toyota’s Flex-fuel Vehicle (FFV) offering. In addition, the Flex-fuel Strong Hybrid Electric Vehicle (FFV-SHEV) is also being displayed at Stall Number 10 at Auto Expo, 2023. We welcome one and all to visit the Toyota Booth at the Auto Expo 2023 and Ethanol Pavilion for an awesome experience with array of green and clean initiatives.

The Indian automobile industry being one of the key contributors to India’s energy security mission, represented at the Ethanol Pavilion with significant participation by leading OEMs, top industry leaders and experts. This important conference also witnessed the presence of various ethanol producers, world-renowned technology providers including Brazil and the United States. The pavilion also represented the special efforts by Government of India towards accelerating the clean energy goals.

On the side-lines, today, a day-long conference themed “International Symposium for Thriving Eco-Energy in Mobility (ISTEM)” was organised to bring together experts and various think tanks deliberate over the benefits and opportunities of ethanol, along with discussing the readiness of automotive ecosystem for decarbonization. Sessions also included experts sharing experiences on the holistic pathways adopted globally aimed at realising energy dependence, economic benefits of a widespread ethanol ecosystem, energy security through biofuels and thereby contributions to long-run sustainable growth.

Air India Announces Cancellation, Rescheduling Of Flights During Republic Day Week In Compliance With NOTAM

* Domestic flights to be impacted from 19th to 26th January, 2023

* No cancellation of international flights; Only schedules being altered

Air India, India’s leading airline and a Star Alliance member, today announced the cancellation of domestic flights across some routes in accordance with the Notice to Airmen (NOTAM) issued by the Delhi Airport. In view of the Republic Day preparations by the Indian Air Force, the airspace will be restricted for nearly three hours every day for one week in the run up to the 74th Republic Day. Thus, Air India has taken appropriate measures to cancel as well as reschedule flights while minimising disruptions.

For 2023, the NOTAM has been issued for 19th -24th January and 26th January from 1030 to 1245 IST. To adhere to NOTAM, Air India will be cancelling all flights operating to and from Delhi across the 7-day period during the time range as mentioned above. This has been done without causing disruptions on other routes. Flights operating earlier or later than the prescribed time range will continue to operate as usual.  

As far as international operations are concerned, Air India will be realigning the same with either a one-hour delay or advancement. Due to this, ultra-long haul, long-haul and short haul international operations from five stations, namely LHR (London), IAD (Dulles), EWR (Newark), KTM (Kathmandu) and BKK (Bangkok), will be impacted due to advancement or delay by one hour. There are no cancellations of international operations during this period.

Domestic or international passengers arriving at/departing from IGI Airport, New Delhi, are requested to check their flight status to avoid any further inconvenience.

For more information, please visit www.airindia.in 

About Air India:

Founded by the legendary JRD Tata, Air India pioneered India’s aviation sector. Since its first flight on October 15, 1932, Air India has an extensive domestic network and has spread its wings beyond to become a major international airline with a network across USA, Canada, UK, Europe, Far-East, South-East Asia, Australia and the Gulf. Air India is a member of Star Alliance, the largest global airline consortium. After 69 years as a Government-owned enterprise, Air India and Air India Express were welcomed back into the Tata group in January 2022. The present management at Air India is driving the five year transformation roadmap under the aegis of Vihaan.AI to establish itself as a world-class global airline with an Indian heart.

Vihaan.AI is Air India’s transformational roadmap over five years with clear milestones.  It will be focussing on dramatically growing both its network and fleet, developing a completely revamped customer proposition, improving reliability and on-time performance. The airline will also be taking a leadership position in technology, sustainability, and innovation, while aggressively investing in the best industry talent. Vihaan.AI is aimed at putting Air India on a path to sustained growth, profitability and market leadership.

About the Tata Group:

Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals. The group operates in more than 100 countries across six continents, with a mission 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’.

Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation, and art and culture. In 2020-21, the revenue of Tata companies, taken together, was $103 billion (INR 7.7 trillion). These companies collectively employ over 800,000 people. Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of $314 billion (INR 23.4 trillion) as on December 31, 2021. Companies include Tata Consultancy Services, Tata

Mahindra Lifespaces Acquires 4.25 Acres Land Parcel In Bengaluru

Mahindra Lifespace Developers Limited, the real estate and infrastructure development arm of the Mahindra Group, today announced that it has purchased 4.25 acres of land in Singasandra, South Bengaluru. The land is estimated to have a developable potential of approximately 4.6 lakh square feet of saleable area and a Gross Development Value of approximately Rs 400 crore primarily comprising premium residential apartments.

Arvind Subramanian, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, “Bengaluru is a key growth market for our residential business, and we are happy to add this new project to our portfolio. This will be our third project in Bengaluru and comes on the back of the overwhelming response to the launch of Mahindra Eden, India’s first Net Zero Energy residential project. This latest acquisition is aligned with our strategy of further strengthening our presence in India’s IT capital and deepening our presence in key micro markets there.”

The site is strategically located just off Hosur Road and offers access to well-developed social infrastructure with educational institutes, healthcare facilities, and retail avenues in proximity. In addition, the land is in close proximity to India’s largest IT and Electronics hub - Electronics City – and approximately 25 minutes away from Koramangala. Mahindra Lifespaces expects to launch the first phase of the project within the calendar year 2023.

About Mahindra Lifespace Developers Ltd.

Established in 1994, Mahindra Lifespace Developers Ltd. (‘Mahindra Lifespaces’) brings the Mahindra Group’s philosophy of ‘Rise’ to India’s real estate and infrastructure industry through thriving residential communities and enabling business ecosystems. The Company’s development footprint spans 32.14 million sq. ft. of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5000 acres of ongoing and forthcoming projects under development/management at its integrated developments / industrial clusters across four locations.

Mahindra Lifespaces’ development portfolio comprises premium residential projects; value homes under the ‘Mahindra Happinest®’ brand; and integrated cities and industrial clusters under the ‘Mahindra World City’ and ‘Origins by Mahindra’ brands respectively. The Company leverages innovation, thoughtful design, and a deep commitment to sustainability to craft quality life and business growth.

The first real estate company in India to have committed to the global Science Based Targets initiative (SBTi), all Mahindra Lifespaces’ projects are certified environment friendly. With a 100% Green portfolio since 2014, the Company is working towards carbon neutrality by 2040 and actively supports research on green buildings tailored to climatic conditions in India. Mahindra Lifespaces® is the recipient of over 80 awards for its projects and ESG initiatives.

Learn more about Mahindra Lifespaces® at www.mahindralifespaces.com

o9 Solutions Grows Annual Recurring Revenue By 84% In 2022

o9 Solutions, a leading enterprise AI software platform provider for transforming planning and decision-making, today reported that its annual recurring revenue (ARR) added in 2022 grew over 84% year-over-year. During Q4’22, o9 set a new record for ARR added in a single quarter as the company saw broad growth driven by new clients and expansions at existing clients. A significant portion of the growth during 2022 was driven by expanded usage of o9’s AI-powered Digital Brain platform at dozens of existing clients that are realizing the accelerated benefits of a unified connected enterprise planning platform. These expansions more than doubled year-over-year in 2022.

During 2022, o9 implemented 74 go-lives at numerous well-known brands across sectors,  including soft lines, food and beverage, pharmaceutical, consumer electronics and more. Twenty-five of them were completed in Q4’22 alone, highlighting o9’s accelerating capability to support clients in their efforts to digitize their end-to-end planning and decision-making. o9’s cloud-based planning platform supported nearly 150,000 monthly active users during the year across a variety of industries and planning use cases, underscoring its widespread adoption.  The company’s worldwide talent pool also grew to more than 2,400 throughout the year.

“The massive value-generating power of an integrated business planning platform like the o9 Digital Brain and urgent need for intelligent and resilient supply chains is the force that’s driving our strong year-over-year results and momentum heading into 2023,” said Chakri Gottemukkala, Co-founder and CEO, o9 Solutions. “We anticipate that the importance of investing in o9’s AI-powered platform to digitally transform the world’s largest and most complex supply chains will only continue to increase.”

Igor Rikalo, President and COO of o9 Solutions, said, “o9’s results in 2022 showcases our ability to execute across diverse industries, regions and markets. I’m extremely proud of what o9 accomplished in 2022, both from a growth perspective and also what we’ve achieved through our social impact initiatives to support the communities we serve. I look forward to continued success in 2023 and beyond.” 

Other notable highlights of Q4’22 include:

The new IPA EffWorks report by o9 Solutions reveals 4 key decisions to take to drive increased ROI in short, medium, and long-term

o9 Solutions named as Collaborative Supply Networks Leader by Forrester Wave

o9 Solutions and Samsung SDS launched the o9 Digital Brain Platform as a mobile app

Eckes Granini, the High Performance Metals Division of voestalpine,  Godfrey Phillips India, and Indofil Industries announced plans to use o9 Solutions’ Digital Brain platform to digitally transform their supply chain operations

o9 Solutions and Supply Chain Insights with LKQ Europe revealed significant supply chain planning improvements following the first-ever pilot to test outside-in planning

o9 Solutions ranked No. 396 on the 2022 Deloitte Technology Fast500™ and was named a  Food Logistics 2022 Top Software & Technology Provider

o9 Solutions joined the Climate Pledge

The o9 integration for Microsoft Dynamics 365 became available

o9 Solutions and project44 accelerated their partnership to support enterprises with enhanced end-to-end supply chain planning

About o9 Solutions, Inc.

o9 Solutions is a leading AI-powered platform for integrated business planning and decision-making for the enterprise. Whether it is driving demand, aligning demand and supply, or optimizing commercial initiatives, any planning process can be made faster and smarter with o9’s AI-powered digital solutions. Bringing together technology innovations—such as graph-based enterprise modeling, big data analytics, advanced algorithms for scenario planning, collaborative portals, easy-to-use interfaces and cloud-based delivery—into one platform. For more information, visit www.o9solutions.com.

HCL Technologies Ltd; Software Business Drives Performance Upbeat

BUY

CMP: Rs1072 

Target Price: Rs1125

HCLT posted operating performance beat in Q3 due to better-than-expected strength in the software business. Revenue grew by 5% CC QoQ because of strong performance in the software business (30.5% CC QoQ), while the services business (2.2% CC) delivered broadly in-line performance. Growth in the services business was steady despite higher-than-usual furloughs in financial services (-1.7% CC QoQ), ramp-down by clients under stress in retail (-0.6%), and impact from furloughs and spending optimization by clients in technology and services (0.1%). Deal intake remained healthy at USD2.35bn in Q3, led by IT operating model transformation, cloud adoption, and large vendor consolidation deals. Management expects revenue growth in Q4 to be weak QoQ due to seasonality in the software business. However, management remains confident about the medium-term growth outlook due to market share gain, strong deal intake, and deal pipeline. HCLT has narrowed its overall revenue growth guidance to 13.5-14.0% CC (earlier 13.5-14.5%) and EBITM guidance to 18.0-18.5% for FY23 (earlier 18-19%). HCLT has also narrowed down its services revenue growth guidance to 16.0-16.5% CC for FY23 (earlier 16-17%), implying 1.0-2.5% QoQ growth in Q4. We raise our earnings estimates by 1.4-1.8% for FY23E-25E, factoring in Q3 performance. We maintain BUY with a TP of Rs1,125/share at 17x Dec-24E EPS (earlier Rs1,100).

Results summary: Revenue grew by 5.3% QoQ to USD3.24bn (5% QoQ/13.1% YoY CC), above our estimates, due to strong performance in the software business (30.5% CC QoQ). EBITM expanded by ~160bps QoQ to 19.6%, 70bps above our expectations, due to increased contribution from the software business. The services business’s EBITM grew by ~10bps QoQ to 17.7% due to pyramid and cost optimization (+40bps), better realization (+30bps), currency movement (+70bps) negated by salary hike for middle management (-70bps), and impact of furloughs (-60bps). Net profit stood at Rs40.97bn, higher than our estimate, due to better-than-expected operating performance. HCLT signed seven large services deals and 10 software deals with total new deal TCV of USD2.35bn in Q3. What we liked: Revenue and margin beat, healthy deal intake, and strong performance in the software segment. What we did not like: Weakness in financial services, retail and CPG, and technology.

Earnings call KTAs: 1) HCLT signed three large deals in Q3 in which the bulk of work is in the nature of transformation and attributable to vendor consolidation, transition from struggling service provider, and realignment of the product operating model. The share of cost takeout deals is growing in the unqualified deal pipeline, which may lead to a higher share in booking in future. 2) Growth in Europe was led by large deal ramp-up in a telecom client in the past two quarters. Growth was partly offset in the reported communication vertical due to the decline in another large telecom client. 3) BFSI growth is expected to improve in Q4, while weakness in retail and CPG is expected to persist. Technology is likely to remain stable, as the impact from spend optimization would be negated by vendor-consolidation opportunities. 4) Management aspires to return to the 19-20% EBITM trajectory. Lower backfilling costs with moderating attrition, flattening employee pyramid, better utilization, improved realization, and higher offshoring/nearshoring remain key margin levers. 5) IT services LTM attrition moderated to 21.7% in Q3FY23 vs. 23.8% in Q2FY23. 6) New deal intake TCV grew by 10% YoY to USD2.35bn (ACV up 1.9% YoY; 13% YoY in 9MFY23). HCLT hopes to sustain 10%+ ACV growth on a TTM rolling forward basis. 7) The company announced an interim dividend of Rs10 per share.

Protean To Hire And Train 100 Engineering Graduates From Across Indian Market

Protean eGov Technologies Limited (formerly NSDL e-Governance Infrastructure Limited), a pioneer and leader in universal, citizen centric and population scale e-governance solutions, has announced plans to hire and train around 100 engineering graduates across India under its recently launched ‘FutureFIT–Tech Engineers Program’.  

Protean is partnering with leading technology training institutes and colleges in the country to nurture talent and help them acquire the right job-specific skills. As part of the selection process, all the candidates will have to go through a three-step online evaluation process that will include an online test, technical interview and a final HR interview followed by formal on-boarding. The selected engineering graduates will undergo a two-month boot camp, where they will be trained in acquiring deep skills in latest technologies. 

Applications are open for all B. Tech or B.E. graduates who have passed in the year 2021-2022. Applicants can be from the CS (Computer Science), IT (Information Technology), and ECE (Electronics and Communication Engineering) streams, and should have scored a minimum of 60% in their key academic years. 

Protean eGov Technologies Managing Director and CEO, Suresh Sethi said, “In today’s world, organisations are fast adopting advanced & emerging technologies to stay competitive and ahead of the curve. Given the increasing impact of new-age technologies on business and everyday life, we plan to hire and train ‘Change Engineers’ who are passionate about technology and have a desire to make an impact and contribute to the society. The FutureFIT–Tech Engineers Program is a step in realizing our vision to create strong e-governance interventions by using common foundational digital building blocks and leveraging open source technology.” 

About Protean 

Protean eGov Technologies Ltd., is one of the key IT enabled service providers companies in India engaged in conceptualizing, developing, executing nationally critical, and population scale greenfield technology solutions. The company has extensively collaborated with the government over the last 25 years in creating digital public infrastructure and developing innovative citizen centric e-governance solutions. The company’s core strength lies in not just enabling technology, but also providing the necessary interventions for ecosystem creation and adoption of new technologies and business models. 

In these two-and-a-half decades, the company has created effective e-governance interventions impacting multiple sectors of the Indian economy and touching various aspects of a citizen’s life - modernizing the direct tax infrastructure, providing a tax identity to citizens and corporates (issuance of PAN card), strengthening the old-age social security infrastructure (National Pension System & Atal Pension Yojna ), promoting financial inclusion by contributing to the India Stack by enrolling citizens for National Identity and enabling the BFSI sector by providing Aadhaar-based identity authentication and e-Sign services.  

The Company is actively supporting open digital building blocks for use-cases across sectors like mobility, healthcare, agriculture and education, while extending its service stack to provide a comprehensive set of APIs to enable end-to-end digital on-boarding and data verification capabilities.  

Godrej Properties Acquires 60-Acres Land Parcel In Chennai

* The project will have a developable potential of approximately 1.6 million square feet

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it has purchased 60 acres on an outright basis in the fast-developing micro market of Oragadam Junction, Chennai.

Spread across ~ 60 acres, the proposed project is estimated to have a developable potential of approximately 1.6 million square of saleable area, comprising primarily of residential plotted development.

The site is strategically located in between Grand South Trunk road (GST road) and NH-4, just off Oragadam Junction (on the 6-lane SH-48) offering access to other parts of the city via Chennai Bypass Road, Chennai Tiruvallur High Road and Red Hills Road.

Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are happy to add this land parcel to our portfolio. It fits with our strategy of deepening our presence across India's leading cities. We will aim to build an outstanding plotted development project in Chennai that creates long term value for its residents.”

Oragadam Junction is recognized as one of the fastest-growing business and largest industrial corridors of Chennai, with manufacturing facilities of 22 Fortune 500 companies spread across the industrial belt stretching from Sriperumbudur to Oragadam. The area is well-connected via road and rail and offers good civil and social infrastructure consisting of schools, colleges, hospitals and retail outlets.

About Godrej Properties Limited: 

Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 125-year legacy of excellence and trust with a commitment to cutting edge design, technology, and sustainability. In FY 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved. Godrej Properties has deeply focused on sustainable development. In 2010, GPL committed that all of its developments would be third party certified green buildings. In 2020,2021 and again in 2022, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally amongst listed residential developers for its sustainability and ESG practices. In 2017, GPL was one of the founding partners of the Sustainable Housing Leadership Consortium (SHLC), whose mission is to spread sustainable development practices across the Indian real estate sector. In recent years, Godrej Properties has received over 300 awards and recognitions, including the Porter Prize 2019, The Most Trusted Real Estate Brand in the 2019 Brand Trust Report, Builder of the Year at the CNBC-Awaaz Real Estate Awards 2019, and The Economic Times Best Real Estate Brand 2018.