Kansai Nerolac Paints Ltd Announces Q1 Results FY 2023-2024

Kansai Nerolac Paints Limited (KNPL), one of the leading Paint companies in India at the Board meeting announced its unaudited results for the first quarter of financial year 2023-24. For the quarter, the company declared Net revenue of Rs. 2071.2 Crores, a growth of 6.5 % over the corresponding quarter of the previous year.  

EBIDTA was at Rs. 333.9 Crores, a growth of 30.6 % over the same quarter of the previous year. PBT before exception item was at Rs 304.6 Crores a growth of 39.5 % over the same quarter of the previous year. PAT after exception item was at Rs 743.8 Crores, a growth of 356.6 % over the same quarter of the previous year.  

On 30th June 2023, the Company has entered a Deed of Conveyance with Shoden Developers Private Limited, a group company of House of Hiranandani for sale of its land at Kavesar, Thane for the total consideration of Rs. 671 Crores. Accordingly, the profit on sale of Rs. 661.25 Crores has been disclosed as an exceptional item in the current quarter. 

Commenting on the results, Mr. Anuj Jain, Managing Director, Kansai Nerolac Paints Ltd said, “The quarter witnessed good demand for Automotive and Performance Coating. Demand for Decorative paints was healthy.  

Raw material prices continued to soften. Gross margins improved over the corresponding quarter last year. The company continues to pursue various initiatives in the areas on feet-on-street, digital, influencer outreach, new product launches, approvals and projects.  

Looking forward, growth momentum in Automotive and Performance Coatings will continue. With a favorable monsoon and a longer festival season, Decorative demand is likely to improve closer to the festival season. 

The proceeds from land sale will be mainly utilized to support business initiatives.”  

About Kansai Nerolac Paints Ltd: 

Kansai Nerolac Paints now in its 103rd year has been at the forefront of paint manufacturing pioneering a wide spectrum of quality paints. Kansai Nerolac is one of the leading paint companies in India and is the leader in Industrial paints. The company has eight strategically located manufacturing units all over India and a strong dealer network across the country. The company manufactures a diversified range of products ranging from decorative paints coatings for homes, offices, hospitals, and hotels to sophisticated industrial coatings for most of the industries. Please visit www.nerolac.com .   

Set To Power The Nation, Sterling And Wilson Renewable Energy Limited “Wins Orders Worth INR 826 Crore”

* Continues to hold its leadership position 

Sterling and Wilson Renewable Energy Limited (SWRE) (BSE Scrip Code: 542760; NSE Symbol: SWSOLAR), a leading home-grown renewable EPC, announced that it has won orders worth INR 826 crore in the first four months of FY 2023-24. 

The orders aggregate to around 1 GWp and include projects in Rajasthan, Uttar Pradesh and Gujarat. Scope of work for all projects include design, construction and commissioning. The projects will create hundreds of construction jobs, thus benefiting the local community.  

Mr. Amit Jain - Global CEO, Sterling and Wilson Renewable Energy Group said, “Renewable sector plays a vital role in India’s journey towards clean energy. For us at SWRE, India continues to be a key market and we have been working together with different stakeholders, towards boosting renewable capacity in the region. All orders clocked in these four months are from our recurring partners and is a testament of our expertise in the industry. Our partnerships hold immense value for us, and we are grateful for their continued trust and confidence in us.”  

“This accomplishment reflects upon our team’s dedication and hard work. Over the past decade, we have been a dominant player in the domestic market and are poised to delivering high-quality renewable solutions that drive sustainability and make a positive impact on the world and look forward to spearheading the journey with continuous growth and innovation”, he added. 

About Sterling and Wilson Renewable Energy Limited 

Sterling and Wilson Renewable Energy Limited (SWRE) is a global pure-play, end-to-end renewable engineering, procurement and construction (EPC) solutions provider. The company provides EPC services for utility-scale solar, floating solar and hybrid & energy storage solutions and has a total portfolio of over 15 GWp (including projects commissioned and under various stages of construction). SWRE also manages an operation and maintenance (O&M) portfolio of 6.4 GWp solar power projects, including for projects constructed by third parties. Present in 29 countries today, Sterling and Wilson Renewable Energy Limited has operations in India, South-east Asia, Middle East, Africa, Europe, Australia and the Americas. 

Nuvoco Launches “InstaMix Superior Column Concrete” Across India

* A Revolutionary Solution for Effortless Column Construction 

Nuvoco Vistas Corp. Ltd., India’s fifth-largest cement group in terms of capacity, introduces the revolutionary product “InstaMix Superior Column Concrete”. This specialized concrete solution is meticulously designed for column construction, aiming to address the persistent challenges faced by developers and contractors. 

Traditionally, column construction has been plagued by problems stemming from delays in pouring concrete, resulting in undesirable honeycombing, and weakened structural integrity necessitating extensive repairs. However, with InstaMix Superior Column Concrete, these concerns are now a thing of the past. The product’s unique formula provides an extended workability duration of up to four hours, effectively clearing the challenges faced during column construction. 

InstaMix Superior Column Concrete provides a remarkable advantage of early de-shuttering of cast columns. Unlike Ordinary Portland Cement (OPC) concrete with standard mix design, which often demands 7 to 14 days for de-shuttering of cast columns, InstaMix paves the way for early de-shuttering within just 12 to 16 hours, attaining a strength of up to 6MPa, depending on weather conditions. This ensures ease of pouring and sets a new standard for efficiency during construction. 

Speaking about the product, Mr Prashant Jha, Chief of Ready-Mix Concrete and Modern Building Materials Business at Nuvoco, said, “At Nuvoco, quality and customer experience are at the centre stage of our business operations. InstaMix Superior Column Concrete belongs to the renowned InstaMix brand, known for delivering exceptional performance and quality, making it the preferred choice of customers. Furthermore, the ready-to-use concrete and mortar are thoughtfully delivered in 35 kg bags directly to the job site. This benefits the end-user with the convenience of handling, minimal wastage, and faster application.” 

With the introduction of InstaMix Superior Column Concrete, Nuvoco continues to lead the industry by providing innovative solutions that streamline construction processes and enhance overall project efficiency. Contractors and developers across the country can now experience hassle-free column construction with this revolutionary concrete solution. 

About Nuvoco Vistas 

Nuvoco Vistas Corporation Limited (“Nuvoco”) is a cement manufacturing company with a vision to build a safer, smarter, and sustainable world. Nuvoco started its operations in 2014 through a greenfield cement plant in Nimbol, Rajasthan, and further acquired Lafarge India Limited, which entered India in 1999 and Emami Cement Ltd. in 2020. Today, Nuvoco is India’s 5th largest Cement Group in terms of capacity (23.8 MMTPA) with an INR 10,586 crore total revenue from operations in FY23 and is among the leading players in East India. Nuvoco offers a diversified business portfolio under three business segments - Cement, Ready-Mix Concrete (RMX) and Modern Building Materials (MBM).  Nuvoco’s Cement product portfolio includes Concreto, Duraguard, Double Bull, PSC, Nirmax and Infracem brands that offer a complete spectrum of Ordinary Portland Cement (OPC), Portland Slag Cement (PSC), Portland Pozzolana Cement (PPC) and Portland Composite Cement (PCC). Nuvoco’s RMX business possesses PAN India presence and offers value-added products under Concreto (Performance concrete), Artiste (Decorative concrete), InstaMix (ready-to-use bagged concrete - the first-of-its-kind in the industry), X-Con (M20 to M60) and Ecodure (Special green concrete) brands. It is also a proud contributor to the landmark projects like Mumbai-Ahmedabad Bullet Train; Birsa Munda Hockey Stadium, Rourkela; Aquatic Gallery Science City, Ahmedabad; and Metro Railway (Delhi, Jaipur, Noida and Mumbai) among many others. Nuvoco’s MBM product portfolio, under the ‘Zero M’ and ‘InstaMix’ brands, comprises construction chemicals, wall putty and cover blocks. Through the NABL-accredited Construction Development and Innovation Centre (CDIC) based in Mumbai, Nuvoco identifies gaps in the marketplace and offers innovative products to meet customer requirements. 

70% of Start-Ups Believe Enterprise Technology Propels Hypergrowth & Better Valuations: SAP - Zinnov Study

* Implementing Enterprise Applications critical to grow sustainably and scale across adjacencies

SAP India, in collaboration with Zinnov Digital today launched new research revealing that Indian Start-ups are increasingly seeing enhanced benefits by adopting a strong digital core on cloud. Remarkably, over 80% of start-ups in the Enterprise Tech, Health Tech, Retail, and Logistics & AutoTech sectors have reported a substantial increase in revenue, underlining the significant positive impact of enterprise applications on start-up performance and success.

Titled ‘Driving the next phase of sustainable growth for Indian Start-ups in 2023 and beyond,’ the study of 115 startups also suggests that start-ups will continue to invest in enterprise technology platforms, driven by their proven ability to deliver business outcomes and ROI. Some of the key benefits of enterprise applications include top-line acceleration and control on the bottom-line, quick revenue recognition and handling complex billing based on contracts and consumption for differentiated service lines.

Announcing the findings of the survey, Sanket Deodhar, Vice President- Digital Natives and Startups, SAP India said, "Indian start-ups today require adequate tech infrastructure to help them diversifying business, scaling up operations and acquisition and retention of the right talent. Mission-critical Enterprise Resource Planning (ERP) systems on cloud are powerful enablers that provide valuable insights and direction to navigate any challenges, and accomplish their goals, including attracting investors, fair valuations and retaining a competitive edge.”

Key findings from the report:

Best-run start-ups run on a modern digital core

Technology remains centre stage, influencing how startups grow sustainably.

~74% of Start-ups in India have reported direct benefits from implementing enterprise applications.

24% of Start-ups believe that achieving maturity in their business model, driven by robust technological capabilities and scalable operations, plays a crucial role in attracting investors.

About 68% of respondents reported a strong growth in revenue, after adopting enterprise technology solutions, leading to an increase in their valuations.

Enterprise tech on the cloud is the future enabler

Start-ups will continue to prioritize enterprise technology as a critical aspect of their investment to navigate the next phase of growth and development.

37% of the start-ups plan to increase their spending on enterprise applications by more than 15% in 2023.

81% of startups cited automation and standardization of processes across divisions with faster customizations as the primary benefit being derived by hosting enterprise applications on the cloud.

Adoption across the public cloud is set to grow by 2X whereas the private cloud promises a ~50% increase in adoption indicating a high focus for start-ups to shift their workloads to the cloud.

Addressing Challenges, Indian startups stay resilient

Despite the funding winter and dynamic market conditions, Indian startups continue to grow and there is no sign of investments slowing down for high-performing start-ups in the coming years.

More than 75% of start-ups point towards metrics such as revenue generated in the past year, product and service margins, and market share based on traction, for determining valuations.

81% of start-ups reported customer sentiment as one of their biggest business concerns, indicating the importance of customer acquisition, experience, and servicing metrics.

70% of respondents noted that Partner evaluation and lack of in-house knowledge to manage remain the top challenges for start-ups while implementing enterprise application solutions.

Commenting on the study, Sidhant Rastogi, Managing Partner at Zinnov Management Consulting, said, "In 2022, Indian start-ups faced significant challenges due to market headwinds and reduced valuations. As we enter 2023, we remain optimistic that investment in the right technology and organizational augmentation can help start-ups navigate the economic slowdown caused by the recession and other macroeconomic factors. By doing so, they can ramp up valuations and revenue and achieve sustained growth."

"At CENSA Next, our tech stack empowers Waycool’s growth vision, revolutionizing the food supply chain from supply-led to demand-driven. Leveraging SAP's cloud-first innovations, we eliminate farming guesswork and assist customers in transforming their food chain, from soil to sale." - Avinash Kasinathan, CEO, CENSA Next,” said Avinash Kasinathan, CEO, CENSA Next

“As India’s leading D2C foodtech brand, Licious aims to provide the best-in-class meat-buying and consumption experience to our consumers through an array of technology-first solutions, systems and processes. SAP's intelligent suite of innovative cloud solutions, coupled with built-in industry practices, will help us further strengthen and scale some of these business processes that we need to efficiently operate a complex farm to fork supply chain,” added Ajit Narayanan, Chief Technology and Product Officer, Licious.

Reliance General Insurance Bolsters Financial Strength With Rs. 200 Crore Capital Raise

* Through this capital infusion, RGI reaffirms its dedication to bolstering financial strength and seizing emerging opportunities in the general insurance sector.  

Reliance General Insurance Company Ltd (RGICL), one of India’s leading general insurance players, in a strategic move has raised the capital of Rs. 200 crores by issuing equity shares to Reliance Capital Limited, its esteemed promoter. With this capital raise, RGICL is reinforcing its commitment to financial strength and readiness to capitalize on emerging opportunities in the insurance sector. 

The Shareholders of the company at its Extraordinary General Meeting (EGM) held and have approved infusion of capital of about Rs. 200 crores in the company, by way of the issue of equity shares on a private placement basis. This capital infusion is aimed at pursuing new business opportunities for growth and securing the company's position amongst the market leaders. 

RGICL has been a category leading player, offering best-in-class products and tech-oriented service solutions.  With the freshly infused capital, there will be significant impetus on achieving strategic objectives, enabling the company to capitalize on emerging opportunities in the insurance sector, expanding product offerings and reaching new customers through innovative initiatives. These initiatives will mark an exciting phase of growth, stability, and excellence in the insurance market for Reliance General Insurance. The infusion will also enhance the company's solvency margin, reflecting its resilience in managing risks and instilling confidence among customers and stakeholders.  

Mr. Rakesh Jain, CEO of Reliance General Insurance Co. Ltd. expressed his optimism about the capital raise, stating, "This strategic decision is a testament to our commitment to staying at the forefront of the industry and delivering superior value to our customers. With this capital infusion, we are well-equipped to seize opportunities, innovate, and continue providing best-in-class insurance solutions." 

Reliance General Insurance is excited about the positive impact this capital rise will have on its growth trajectory and its ability to serve customers with excellence.  

About Reliance General Insurance 

Reliance General Insurance, a subsidiary of Reliance Capital, is one of India’s leading general insurance companies. The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, Travel Insurance, and Home Insurance. It provides customized solutions to meet the protection needs of each customer. Reliance General Insurance has a growing network of 9100+ hospitals. It also has a robust network of more than 90,000+ intermediaries and 130 branch offices across India for offering its products and services to retail, corporates, and SME clients.  

Hairline International Hair And Skin Clinic Launches India's First Lice Clinic At Koramangala, Bangalore

Hairline International Hair and Skin Clinic, a distinguished name in the healthcare industry, proudly unveiled the first-ever LICE Clinic in India for combatting Head Lice Infestation.  

Head lice, or pediculosis capitis, has long been a common concern among parents and children due to close contact in schools and social settings. This condition can lead to scalp itching and potential secondary bacterial infections if left untreated, causing distress to affected individuals and parents alike.

Addressing the media at the launch of LICE Clinic, Bani Anand, the Founder & Managing Director of Hairline International, said, “Traditionally, head lice management has relied on topical and oral pediculicidal agents, as well as anti-lice shampoos. However, we at Hairline International Hair and Skin Clinic have taken a giant leap forward with its introduction of a chemical-free electronic device that offers a safe and effective way to get rid of head lice infestations in just 2 sessions.”

"At Hairline International, our mission has always been to revolutionize the healthcare landscape with innovative solutions. With the launch of the LICE Clinic, we take great pride in offering a dedicated facility that addresses head lice infestations comprehensively. Our team of expert dermatologists are well-equipped to provide personalized treatments, ensuring that each patient receives the highest standard of care," she added.

The launch event, held at the clinic's premises in Koramangala, Bangalore, was inaugurated by the Honorable N A Harris, MLA of Shantinagar Constituency, Bengaluru, who lauded the initiative of Hairline International in  launching the LICE clinic, "The introduction of Hairline International's LICE Clinic is a significant milestone in healthcare. It addresses a common yet often overlooked issue that affects our community. I applaud Hairline International for their unwavering commitment to providing specialized care and commend them for establishing India's first LICE Clinic," he stated.

Elaborating on the new revolutionary treatment, Dr Dinesh G Gowda, Dermatosurgeon and Dr. Kala Vimal, Consultant Dermatologist & Cosmetologist at Hairline International, said, "At Hairline International, we've harnessed cutting-edge technology to revolutionize head lice treatment. With our advanced suction device, meticulously designed to remove lice effectively, we ensure a solution in just two sessions under the supervision of experienced dermatologists.”

During the event, attendees had the opportunity to witness demonstrations of the clinic's specialized nit-combing technique, an essential aspect of the treatment process. With the launch of India's first LICE Clinic, Hairline International Hair and Skin Clinic has demonstrated its dedication to promoting scalp health and providing specialized care for lice-related concerns. As the clinic opens its doors to the public, it aims to empower individuals to overcome head lice infestations and lead healthier, happier lives.

The head lice treatment is being provided at Hairline's clinics in Koramangala as well as Indiranagar.

About Hairline International Hair and Skin Clinic

Hairline International Hair and Skin Clinic has carved an indelible name for itself in the field of Trichology and Skin care and its medical management. Under the stewardship of its Founder and Managing Director, Dr. Bani Anand, Hairline International grew from non-surgical competencies to surgical treatment options and today is making in-roads in regenerative medicine as well. Spread over 7 clinics now in Bangalore, with a research center, pathology lab and a stem cell lab in the making, Hairline International believes in creating a strong foundation with medical professionals in varying fields of diabetology, gastroenterology, gynacologists, trichologists and dermato-surgeons as well as cosmetic surgeons – drawn from multiple specialties but all working towards a scientific and technologically advanced means of hair and skin care management. Hairline aims to grow from strength to strength across multiple spectrums in the field of Trichology and Skin care to become the undisputed leader in the field.

For more details, log on to www.hairline.in 

Tips To Manage Diabetes During The Monsoon Season

Countless cups of chai, dancing in the puddles, paper boats, piping hot pakoras & listening to music while gazing outside the window – these are a few things that have become synonymous with Monsoon, the season that always casts a spell on us.

During this season, it becomes extremely important that people with diabetes not take a raincheck on regular monitoring. Additionally, one must try to keep their blood sugar level in the check. This can be easily done using tools like continuous glucose monitoring (CGM) devices, which don’t involve finger pricking to give you glucose level insights. Such devices have metrics like Time in Range, which indicates the amount of time in a day that one’s glucose levels stay within a specified range. Checking your readings more often is also associated with more time spent in this optimal range, which can improve your glucose control.

Dr. Abhijit Bhograj, Endocrinologist, Manipal Hospital, Bangalore, said, “For people living with diabetes, the onset of monsoon signals the arrival of a host of infections like the flu and waterborne diseases. These can affect their immune system and lead to other health problems, making this a particularly challenging time. People with diabetes must take extra care and follow preventative steps to avoid health concerns and glucose fluctuations during this time and stay healthy. Therefore, monitoring is extremely vital during the rainy season, and this can be supported through solutions like continuous glucose monitoring (CGM).” 

Here are a few tips on how to enjoy the monsoon season while managing your diabetes this year:

Regularly monitor blood sugar levels: As you may change your everyday exercise or diet routines during this season, checking your glucose levels frequently is a must. Fortunately, there are more ways to do this. Wearable CGM devices, like FreeStyle Libre for instance, can provide you real-time access to your glucose readings. You should try to stay in the optimal glucose range (commonly 70 – 180 mg/dl) for about 17 out of the 24 hours each day. In this way, you can manage your diabetes, come rain or shine.

Include immunity-boosting foods in your diet: Diabetes can compromise your immunity. Therefore, while it may be tempting to eat at your local street food vendor’s, people with diabetes should avoid outside to limit being exposed to waterborne diseases. Stick to home-cooked meals enriched with immunity-boosting and antioxidant-rich foods, while staying away from raw food. This can lower your risk of contracting infections or diseases at this time. Additionally, make sure to properly wash leafy vegetables that could host worms or bacteria.

Keep your feet dry: People with diabetes must take extra care of their feet during this season. Feet care 101 should include washing one’s feet after being exposed to rain and the infections that could come with it. You should also carry an extra pair of socks as getting your feet wet is more of an eventuality than a probability. Wear comfortable shoes that are dry and clean to avoid fungal infections (and don’t walk through puddles).

Don’t skip on exercise: The rainy season brings with it the feeling of wanting to sit and relax at home. However, people with diabetes must remain active and maintain a consistent exercise routine. While some outdoor options may be unavailable due to the rain, you can always try a low intensity workout indoors. A short 30-minute workout or daily morning walk indoors, for example, can help immensely in maintaining blood-sugar levels.

Stay Hydrated: Even though water is everywhere during the monsoons, that doesn’t mean your body is automatically getting hydrated. Humidity coupled with heat that is the signature of Indian monsoons can lead to dehydration. People with diabetes should ensure that they are consuming an adequate amount of water.

Protect your eyes: Moisture in the air makes its easy for eye infections to travel. Therefore, people with diabetes must be careful to touch one’s eyes only after washing their hands. If possible, wear protective glasses if you are getting soaked in the rain. Given the high risk of developing certain eye diseases with diabetes, including diabetic retinopathy, you should also consider annual eye screenings to check for any concerning signs.

In addition to these tips, people with diabetes should remain alert to any concerning trends of hyperglycemia or hypoglycemia and take care of these immediately. All in all, ‘Stay Alert’ should be the mantra for any person with diabetes during the monsoon season.