Delhivery To Make A Strategic Investment In Vinculum To Strengthen Its D2C Offering

Delhivery Ltd, India's largest fully-integrated logistics services provider, will make a strategic investment in Vinculum, a global software leader enabling omnichannel retailing for D2C enterprises, brands, brand distributors, and quick commerce companies. The investment is the first part of a potential 2-stage deal that provides Delhivery the option to further increase its shareholding in the company after six months.

Vinculum is one of the early software companies from India, enabling brands to tap into the opportunity presented by eCommerce and Omni Channel. With the post covid industry and consumer shift, the company has scaled up into a leading SaaS Omni Channel software company working with over 400 brands across Grocery & FMCG, Healthcare, Beauty, Cosmetics, Fashion, and Jewelry in India, South East Asia, and the Middle East markets.

Direct-to-Consumer enterprises are a focus market for Delhivery, and the investment is expected to strengthen its position as a leading fulfillment solutions provider in the segment. Through this investment, the two companies will build a complete integrated stack to address the entire range of post-purchase needs of a D2C brand. A deeper integration with Vinculum’s industry-leading Order Management System (OMS) will be a first-of-its-kind fully-integrated E2E offering.

Commenting on the announcement, Rajaganesh S, Head of Supply Chain Solutions at Delhivery, said, "We congratulate the leadership team of Vinculum on building a truly world-class product that enables omnichannel retailing for brands, retailers while also powering fulfillment capabilities of 3PLs and online marketplaces. A strategic partnership with Vinculum strengthens Delhivery’s fulfillment solution to brands".

Venkat Nott, Founder, and Chief Executive Officer of Vinculum Group, added, “We are delighted with the investment to be made by Delhivery in Vinculum. This lays the foundation for deep tech integration between both companies, tremendous collaboration opportunities, and immense business value for our customers."

The investment is subject to the satisfactory completion of closing conditions.

About Delhivery Ltd.

Delhivery is India's largest fully integrated logistics services provider. With its nationwide network covering over 18,500 pin codes, the company provides a full suite of logistics services such as express parcel transportation, PTL freight, TL freight, cross-border, supply chain, and technology services. Delhivery has successfully ful?lled over 2 billion shipments since inception and today works with over 27000 customers, including large & small e-commerce participants, SMEs, and other enterprises & brands. For more information about Delhivery, visit www.delhivery.com.

About Vinculum Solutions Private Limited

As a market-leading SaaS Omni Channel Software provider, Vinculum empowers brands to seamlessly syndicate and list product data to expand their reach through their own webstores, online marketplaces, and social channels, managing orders and inventory across channels while enabling fulfillment from any point across the supply chain. Vinculum’s product suite also enables brands and companies with a ready technology stack to set up b2c and b2b marketplaces. With over 400 satisfied customers, Vinculum’s cutting-edge deep-tech software product suite has earned the company a place among the elite Global Supply Chain Competency Cohort of AWS. The company is widely acclaimed by leading industry analysts and customer review sites such as Gartner, Forrester, G2, etc. For more information about Vinculum,  visit www.vinculumgroup.com. 

eMudhra Announces 51% Acquisition Of Ikon Tech Services LLC, Texas, Through Its Wholly Owned Subsidiary eMudhra Inc, USA

* The acquisition to strengthen eMudhra’s presence and positioning in the US market

eMudhra Limited (BSE: 543533 NSE: EMUDHRA) today announced that it has entered into a definitive agreement to acquire 51% of Ikon Tech Services LLC, Texas, USA, through its wholly owned subsidiary eMudhra Inc, USA.

Ikon Tech is a technology company in Houston Texas, USA, specialising in digital transformation and cyber security and has been in operation since 2012 and is in the business of providing consulting, solutioning and technology services in cybersecurity, digital transformation with an industry focus of Financial Services, Government, Healthcare and Oil and Gas. Its revenue from digital transformation and cyber security services during the year ended December 31, 2022, amounted to USD 6.7 million.

eMudhra has been in the digital trust, digital security and digital transformation space for the past 14 years. Over the years, eMudhra has established a strong footprint in India and emerging markets with marquee reference customers. eMudhra’s ambition to grow to the next level will depend on expanding into developed markets particularly the US which is the largest software market in the world. This in turn will depend on our ability to show an initial set of reference customers, our ability to hire talent to drive customer relationship management, our ability to provide local support to ensure streamlined delivery in US.

Since Ikon Tech has been in existence for the past 10 years and is engaged in digital transformation and cyber security related IT business, (similar line as eMudhra) acquisition of Ikon Tech will provide:

1. Revenue base in USA

2. Initial set of reference customers

3. Talent to drive customer engagement.

4. Local support to ensure streamlined delivery.

Further, scale and reference customers in the US will provide strong credibility when we go after other developed/emerging markets.

Mr. V Srinivasan, Executive Chairman, eMudhra Limited, said: The global society is integrating more and more through digital medium. Paperless digital transformation and cyber security have become key needs in such integrated digital society. eMudhra catering to such needs has seen industry leading growths in Indian and other emerging markets. eMudhra has also recently forayed into the developed markets such as US. To cater to its growth aspects in US, eMudhra proposes to acquire 51% of Ikon Tech. This acquisition is expected to accelerate eMudhra’s penetration in the US market. Combined with eMudhra’s product range and Ikon Tech’s solutions and services capabilities, I am sure that we will provide unparalleled value to our customers as they pursue their digital journey.

Mr. Suresh Kathamreddy, President, Ikon Tech said: While considering strategic alternatives, we found that eMudhra’s management shares a common strategic vision as Ikon Tech. Further, in eMudhra, we found a strong conviction for driving client success through innovation. We are confident of taking eMudhra’s products to our customer base and support eMudhra in its solutioning and support capabilities. I am really excited about the possibilities of what we can do together.

About eMudhra

eMudhra is a global organization aimed at empowering secure digital transformation by offering trust services and developing solutions around identity, authentication and digital signatures. eMudhra is a global trust service provider and largest certifying authority in India having managed over 60 million digital identities. eMudhra is a Board Member of the Cloud Signature Consortium, Chair of the Asia PKI Consortium and is a principal member of the CA/Browser Forum.

eMudhra has a strong marquee client list including Fortune 100 clients, and over 800+ large enterprises who use its products and solutions for their secure digital transformation initiatives. eMudhra has about 800 employees in offices across 7 countries serving customers in over 20 countries.

Leading Beauty Firm - Nykaa Brings its Beauty Bar To Bengaluru!

Nykaa, India’s most preferred beauty and lifestyle destination, has brought back its hugely successful Beauty Bars with an exciting event at Bengaluru’s Lulu Mall. Over 100 makeup enthusiasts were treated to a masterclass with renowned makeup artist Nikhita Anand, where they learned tips and tricks to create the perfect look for summer, using some of the biggest makeup brands PAC, BBlunt, Nykaa Cosmetics, RAS Luxury Oils, Ikonic Professionals & Kay Beauty. Featuring makeovers with essential makeup and skincare products, Nykaa ensured that every attendee enjoyed the session and left looking and feeling fabulous.

Bengaluru’s resident makeup artist Nikhita Anand created a signature dewy summer look that can be easily taken from day to night. She started by prepping the model’s skin with the PAC Total Cleansing Balm coupled with the RAS Luxury Oils Flaunt Anti-Pigmentation Serum and the Nykaa Cosmetics All Day Matte Foundation for a flawless base. In true summer style, she completed the look with a gel eyeliner and glossy lips using the Kay Beauty Lip Pencil in Vanity. To compliment the makeup look, Nikhita created beautiful curls with Ikonic Professionals Curling tong, sealed in place with the BBLUNT Hotshot Hold Spray Delivers Instant & Firm Hold.

Speaking about this much-loved consumer focused property, the Nykaa Spokesperson said, “Nykaa has remained committed to bringing the best brands, products, and trends from the world of beauty, closer to consumers in new and interesting formats. Our Beauty Bars have gained much popularity and love over the years, and we are thrilled with all the love Bengaluru has shown us. We will be hosting several such Beauty Bars throughout the year, across multiple cities, and look forward to creating memorable experiences for our consumers with some of the most sought after brands, experts and offers in beauty.”

An exciting and engaging concept by Nykaa, the Beauty Bars allow make-up enthusiasts to experience the latest trends, interact with some of the best brands and meet with experts from the world of beauty, in their home city. Follow the journey of Nykaa Beauty Bars at @MyNykaa on Instagram.

Head To Yas Island To Watch The Famous Musical 'Hamilton' Take Center Stage At Etihad Arena

Yas Island is excited to announce that the award-winning Broadway Musical ‘Hamilton’, will be coming to Etihad Arena! The musical is set to captivate audiences with its blend of hip-hop, R&B, Jazz and Broadway tunes, bringing the story of Alexander Hamilton, one of the founding father of the United States, to life in a brilliant and contemporary performance.

As the Tony®, Grammy®, Olivier and Pulitzer Award winning musical lights up Yas Island from January 17th, 2024, until February 4th, 2024, Hamilton buffs can look forward to ticket pre-sales going live on May 19th and general sales going up for grabs on May 22nd. Fans will be able to avail a daycation “Dine and Event” package starting at AED 870 and extend their stay on Yas Island with a staycation package launching a week after, starting at AED 1,200, covering a one-night stay at one of Yas Island’s glamorous hotels with complimentary breakfast included. Both offers are valid for booking on Yas Island’s website, subject to availability.

Hailed as a cultural phenomenon, Hamilton will have its first Middle East premiere right on the grounds of Yas Island. Guests are advised to book now for a chance to witness history coming live!

For more information and bookings, visit: https://www.yasisland.com/

GreenLine Partners With Nestle India For Sustainable Logistics Using LNG-Powered Fleet

* Revolutionises Maggi noodle transportation with first-of-its-kind 46 ft LNG-powered containers

GreenLine, India’s first and only LNG-fueled heavy trucking logistics company, today announced the deployment of its LNG-powered containers at Nestle’s Sanand facility. The partnership is in line with Nestlé India’s sustainability goals as it looks to reduce the carbon footprint of its logistics operations.

GreenLine has custom created the first-of-its-kind 46 feet long containers which will be deployed for transporting Maggi noodles from Nestlé’s factory at Sanand, Gujarat, to Bhiwandi, Maharashtra. GreenLine's LNG-powered fleet significantly reduces toxic emissions compared to diesel - Carbon Dioxide by upto 30%, Sulphur Oxides by upto 100%, Nitrogen Oxides by upto 59%, Carbon Monoxide by upto 70%, and Particulate Matter by upto 91%.

In line with Nestle's carbon emissions reduction goals, the adoption of GreenLine's larger 55MT, 46 feet containers replaces smaller diesel 20 MT vehicles, resulting in a substantial reduction in vehicle requirements. This, combined with the emissions reduction achieved by utilizing LNG-powered containers, contributes to Nestle's green mission and enhances its ESG performance.

Commenting on the occasion, Anand Mimani, CEO, GreenLine, said, "We are thrilled to announce our partnership with Nestlé India in their journey to reduce emissions through our innovative green mobility solutions. This collaboration marks a significant milestone, signaling the dawn of eco-friendly logistics for consumer goods companies in India. We eagerly anticipate the widespread adoption of our green mobility solutions by other industry leaders, empowering them to enhance their ESG performance, foster a cleaner environment, and pave the way for a sustainable future for generations to come."

Commenting on this initiative, Mr. Sanjay Khajuria, Director, Corporate Affairs and Sustainability, Nestlé India said, “We are accelerating our sustainability initiatives. We are committed towards net zero emissions and sustainable logistics is a step in that direction. With this aim we are deploying different modes of transportation using alternate fuel and using bigger vehicles to optimize vehicle capacity utilization. We are hopeful that the association with GreenLine would help us to achieve our objectives."

Building on its achievements in green logistics for cement and steel, GreenLine is now introducing the superior capabilities of LNG-powered containers to revolutionize transportation in consumer goods, pharmaceuticals, and express cargo sectors.

About GreenLine:

GreenLine is partnering in the carbon neutrality mission of conscious corporates by enabling them to decarbonize their heavy trucking through a switch to an LNG-powered heavy commercial vehicle fleet. GreenLine has exclusive collaborations & deep tech integrations for LNG refueling stations as well as for LNG trucks. This wired ecosystem enable GreenLine to deliver cleaner, effective, and efficient road logistics solutions to customers in any part of the country. Visit us at https://greenline.in/

Glenmark Pharma Reports Revenue Growth Of 11.7% YoY Q4; 5.6% For The Full Year FY 2022-23

Highlights for Q4 FY 2022?23

·  ROW Business grew by 25.1% YoY to Rs. 6,856 Mn

·  Europe Business grew by 22.3 % YoY to Rs. 6,078 Mn

·  North America Business recorded growth of 15.3% YoY to Rs. 8,507 Mn

·  India Business recorded decline[1] of 6.4% YoY to Rs. 8,284 Mn

·  EBITDA was at Rs. 6,050 Mn, with margin of 17.9%

Glenmark Pharmaceuticals Limited (Glenmark), an innovation-driven global pharmaceutical company, today announced its financial results for the fourth quarter ended March 31, 2023.

For the fourth quarter of FY 2022?23, Glenmark’s consolidated revenue was at Rs. 33,737 Mn as against Rs. 30,191 Mn recording an increase of 11.7% YoY.

EBITDA was Rs. 6,050 Mn in the quarter ended March 31, 2023, as compared to Rs. 4,634 Mn in the previous corresponding quarter, registering growth of 30.5%. EBITDA margin for Q4 FY 2022-23 was 17.9 %.

Reported net loss Rs. 4,031 Mn for the quarter ended March 31, 2023 on account of an exceptional loss of Rs. 7,997 Mn[2], primarily on account of settlement of the litigation related to generic Zetia® in the U.S.

For the year ended March 31, 2023, Glenmark’s consolidated revenue was at Rs. 1,29,901 Mn as against Rs. 123,049 Mn, recording an increase of 5.6 % over the previous corresponding period.

EBITDA for the fiscal year ended March 31, 2023 stood at Rs. 22,784 Mn as against Rs. 23,203 Mn in the previous corresponding period. EBITDA margin for FY 2022-23 was at 17.5%.

Net Profit (PAT)[3] was at Rs. 3,774 Mn for the year ended March 31, 2023, as against Rs. 9,936 Mn in the previous year. The PAT3 for FY 2022-23 was lower on account of exceptional loss of Rs. 7,659 Mn2 primarily on account of settlement of the litigation related to generic Zetia® in the U.S.

“We delivered yet another year of robust performance, despite the challenging global macro-economic environment. Our India business recorded double-digit growth in secondary sales. The North America business showed strong recovery, and the EU and RoW markets did phenomenally well. We continued to make headway in launching Ryaltris®, our first global branded specialty product. Additionally we initiated the Proof-of-Concept studies for four of our clinical oncology assets, which are part of the Glenmark/Ichnos pipeline,” said Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals Ltd. He further added, “We look forward to continue this momentum in the coming year with double-digit revenue growth and significant improvement in EBITDA margins.”

GLENMARK PHARMACEUTICALS LTD.

India

Sales from the India formulation business for the fourth quarter of FY 2022-23 were at Rs. 8,284 Mn as against Rs. 8,847 Mn in the previous corresponding quarter, recording decline of 6.4%.

North America

North America registered revenues of Rs. 8,507 Mn in Q4 FY2022-23; recording growth of 15.3%, as against revenue of Rs. 7,378 Mn for Q4 FY2021-22.

Asia, MEA, LATAM and RCIS Region (RoW)

For the fourth quarter of FY 2022-23, revenues from the RoW region were Rs. 6,856 Mn as against Rs. 5,479 Mn for the previous corresponding quarter, recording growth of 25.1%.

Europe

Glenmark Europe operations revenues for Q4 FY 2022-23 were at Rs. 6,078 Mn as against

Rs. 4,968 Mn, recording growth of 22.3%.

Respiratory – Creating a global scale

Ryaltris®

§  As of the end of the fourth quarter of FY 2022-23, marketing applications for Ryaltris® have been submitted in more than 70 countries across the world. The product has been commercialized in 27 markets, including major markets like the USA, Europe (the UK and multiple markets across the EU), Australia, Russia, South Africa, and South Korea.

Other key products

*  Clinical trial ongoing for generic Flovent pMDI; expect to file in FY24.

*  Plan to file at least one more generic respiratory pMDI in the U.S. in FY24 and continue filing momentum beyond FY24.

Innovative R&D Pipeline

GRC 54276

GRC 54276 (HPK1 Inhibitor) is being developed as a novel, orally administered immunotherapeutic agent for patients with solid tumors. Hematopoietic progenitor kinase 1 (HPK1) is a negative regulator of T and B cell receptor signaling, and an attractive therapeutic strategy for immuno-oncology based treatment in cancers. In pre-clinical studies, GRC 54276, when administered alone, has demonstrated substantial anti-tumor effects. These are further enhanced when administered in combination with currently available immunotherapy.

GRC 54276 is currently being evaluated in the First in Human (FIH) phase 1 clinical study (GRC 54276-101). Part 1a monotherapy phase of the study is ongoing in India since July 2022 and no dose-limiting toxicities have been observed during the DLT period to-date. U.S. FDA’s acceptance of the IND was received in Q4 FY 2022-23. Initiation of the Part1b of the study for GRC 54276 in combination with pembrolizumab and atezolizumab in India and the U.S. is planned for Q1 FY24.

GRC 39815

GRC 39815 (ROR?t inhibitor) is the company’s respiratory pipeline asset being developed as an inhaled therapy for treatment of mild-to-moderate Chronic Obstructive Pulmonary Disorder (COPD). It is currently under Phase 1 clinical development in the U.S.

GLENMARK LIFE SCIENCES LTD. (GLS)

Revenues from operations, including captive sales, were Rs. 6,213 Mn as against Rs. 5,141 Mn, recording a YoY growth of 21%. Generic API revenues in Q4 FY 2022-23 increased by 10.4% QoQ and increased by 15.5% YoY. The business witnessed steady growth momentum across regulated as well as emerging markets. CDMO revenues in Q4 FY 2022-23 doubled sequentially and grew by 30.4% YoY in Q4 FY 2022-23. DMF/CEPs filing continued across major markets in Q4 FY 2022-23; taking the total cumulative filings to 468 as on March 31, 2023. Multiple projects are completed / ongoing for capacity expansion across the Ankleshwar and Dahej facilities.

External sales for GLS in Q4 FY 2022-23 were at Rs. 3,831 Mn as against Rs. 3,283 Mn in Q4 FY 2021-22; recording a growth of 16.7% YoY.

For further updates on the organization, please log on to www.glenmarklifesciences.com.

ICHNOS Sciences (Ichnos)

For the fourth quarter of the current financial year, Glenmark invested Rs. 1,906 Mn as compared to Rs. 1,640 Mn in the previous corresponding quarter. For the twelve months of FY 2022-23, Glenmark has invested Rs. 6,833 Mn as compared to Rs. 6,627 Mn in the corresponding period of the previous financial year.

For further updates on Ichnos and its pipeline, log on to www.ichnossciences.com. The pipeline update for the fourth quarter of FY 2022-23 is published on the Ichnos website. 

SIA Fest By Tata Power And News18 Celebrates India’s Leadership Role In Green Energy Transition

The Sustainable Is Attainable Fest (SIA FEST) by Tata Power, one of India’s largest integrated power companies, and News18, which saw the convergence of leaders from diverse fields, made a decisive bid towards India’s global green leadership. It reinforced the call for mass collective awakening, and behavioural shift, to ensure that India, one of the fastest-growing economies of the world, sets new benchmarks in green energy transition.

Hon'ble Union Power Minister RK Singh hailed India as a global leader in energy transition, and a trailblazer. “Our per capita carbon emissions are one-third of global levels. In the 2015 Paris Summit we pledged that by 2030 we would have 40% of our total energy from non-fossil fuels; we’re already at 42.8% seven years ahead of the deadline. We have also emerged as the most attractive markets for renewables,” said Mr Singh at the Fest.

Hon’ble Union Environment Minister Shri Bhupender Yadav applauded the Sustainable Is Attainable initiative and said such actions galvanize community action. “One Earth, One Future is the right approach to development. We are working with the whole-of-government and whole-of-society approach to fight climate change. All arms of the government are working together to ensure Sustainable Is Attainable,” Mr. Yadav said.

The one-day SIA Fest, which was a culmination of a mass movement Sustainable is Attainable by India’s two leading corporate groups, not only celebrated India’s rapid march towards a clean energy future, but also listed priorities and set goals for the future.

"SIA Fest is a unique celebration of a mission which promises that sustainable is indeed attainable in our country. It has helped us to create a narrative around how a diverse set of stakeholders have to play a critical role to bring about lasting change. Sabka Prayas or active participation of all will ensure India's journey to energy transition. India is well poised to show the world how a growing economy can drive this transition to clean energy. The movement Sustainable Is Attainable aims to enable a better understanding of the conversation around sustainability and green transition,” said Dr Praveer Sinha, CEO & MD of Tata Power.

Applauding the initiatives of the Government of India, Dr. Sinha highlighted how various initiatives including solarisation of agriculture, electrification of rural areas, and enabling commercial and industrial establishments to adopt rooftop solutions are driving this change towards a greener future. The Fest also saw participation from corporate leaders, Ambassadors and delegates of foreign embassies in India.

“Both India and the European Union are making massive investments in the transition towards a greener energy mix. India and the European Union together can help shape the global agenda, and work together for the common global good. The fight against climate change is an important component of our strategic partnership. India has experience in terms of scale which is going to be instrumental for global solutions.” H.E. Ugo Astuto, Ambassador of the European Union to India and Bhutan said. “We just cannot park everything with the government, we have to take actions ourselves,” H.E. Freddy Svane, Ambassador of Denmark to India said, while reiterating the need for collective community action for sustainability.” Terming storage as the big hurdle in clean energy, H.E. Naor Gilon, Ambassador of Israel to India, Sri Lanka, and Bhutan highlighted how Israel is working on providing technological solutions for this, especially on storage. Uruguay has set a unique benchmark by getting a total of 98% of its energy requirements from renewables. H.E. Alberto A. Guani, Ambassador of the Republic of Uruguay said that the country embarked on a challenging journey in 2005-06 by bringing together private and public sectors through legislation and created an enabling environment which led to this transition.

The future of India lies firmly in the hands of the present, and it is important that everyone comes together to strive to build a vibrant, clean, green and sustainable tomorrow, said many participants.

Mr. Avinash Kaul, Chief Executive Officer, Network18 (Broadcast) & Managing Director A+E Networks, said, “Our partnership with Tata Power to drive the Green Energy Culture in India is fuelled by our commitment to build awareness and empower the Indian consumers with the knowledge that inspires them to adopt and demand cleaner energy. Over the past few months, we have engaged with our varied audiences across news channels and digital properties with compelling content showcasing how sustainability is attainable. The SIA Fest elevates the movement by instilling conversations amongst policy makers, key opinion leaders, and consumers to drive an attitudinal shift towards sustainable energy.”

The SIA Fest was a significant leap forward for the Sustainable Is Attainable Movement as it created a vibrant platform for fostering dialogue and promoting the adoption of green energy in India. By celebrating sustainability and garnering support from key leaders, the fest aimed to inspire millions of Indians to embrace and achieve sustainable lifestyles.

The Sustainable Is Attainable movement holds immense significance as India acknowledges the urgent need to shift towards renewable and sustainable energy sources, given the detrimental impact of fossil fuels. India aims at achieving Net Zero Emissions by 2070 and position itself as a key leader in the global green energy revolution.

"To foster the Green Energy culture in India through the Sustainable Is Attainable campaign, we have strived hard to raise awareness and empower Indian consumers with the knowledge necessary to embrace and demand cleaner energy solutions. The SIA Fest catapults this movement by bringing key policy makers, leaders, influencers, and change makers on a common platform, paving the way for a green and clean future for India," added Dr. Sinha.

The event also saw felicitations of Champions of Change which included Cochin International Airport, world’s first green airport, which is fully powered by solar energy to meet their electricity requirement; Ms Bhumi Pednekar, India’s first National Advocate for Sustainable Development Goals, appointed by the UNDP; Ms Prachi Shevgaonkar, the young climate innovator, who runs an app and the movement ‘Cool The Globe’ that helps individuals take small actions to reduce their carbon footprints; BluSmart Mobility, India’s first all-electric ride hailing mobility service with a mission to steer towards clean mobility; V-Shesh, which works towards training persons with disabilities to gain employment within the corporate sector; Mr Pradeep Sangwan, founder of Healing Himalayas and Ms Anshu Pragyan Das, Divisional Forest Officer, Hirakud Wildlife Division at Sambalpur & Bargarh districts, Odisha.

The Sustainable Is Attainable campaign's reverberations will be felt among the masses for a long time. The critical call to action of adopting green energy solutions resonates with people and bolsters public awareness.