Odysse Electric Vehicles Bags Order For “10,000 Unit Of Its Electric Scooter From bud-e”

* Odysse Strengthens Presence in the Electric Scooter Market Through Strategic Partnership 

* The strategic alliance showcases a mutual commitment to reducing carbon footprints and achieving zero emissions 

* Delivery of the scooters will be completed in phases over the next two years 

Odysse Electric Vehicles, India’s fastest-growing premium electric vehicle manufacturer is delighted to announce its latest strategic alliance with bud-e, a leading EV two-wheeler MaaS provider. Odysse celebrates a significant achievement with a 10,000 units order from bud-e for its highly acclaimed electric scooter. The delivery will be completed in phases over the next two years. This strategic alliance demonstrates the mutual commitment of both parties towards reducing carbon footprints and contributing to the national goal of achieving zero emissions.  

This strategic partnership marks a significant milestone for Odysse as it continues to strengthen its presence in the electric scooter market. The electric scooter has gained widespread recognition for its exceptional performance, cutting-edge technology, and environmentally conscious design, positioning it as the preferred choice for modern urban commuters. This partnership would bring remarkable benefits to bud-e, including scalability, and cost savings, while also helping them achieve a competitive advantage in the market.  

Speaking on the occasion, Mr. Nemin Vora, CEO, Odysse Electric Vehicles Pvt. Ltd., "We are thrilled to partner with Bud-E for our electric scooters. This collaboration highlights the growing demand for sustainable transportation solutions and Odysse's commitment to providing high-quality electric vehicles that prioritize both performance and environmental impact." 

Odysse is dedicated to ensuring a seamless delivery process for the 10,000 units of electric scooters, prioritizing customer satisfaction. Furthermore, the company is committed to providing comprehensive after-sales support, including maintenance services and readily available spare parts, to ensure a smooth ownership experience for the Company and its customers. 

This collaboration with bud-e marks a significant milestone for Odysse, as it solidifies the company's position as a leading provider of sustainable mobility solutions. By offering innovative and eco-friendly products, Odysse continues to revolutionize the way people commute and contribute to a cleaner and greener world. 

About Odysse Electric Vehicles Pvt. Ltd: 

Mumbai based Electric Vehicle start-up, Odysse, is a part of Vora group of companies. An all-electric mobility platform that collaborates with the world's leading E.V. component manufacturers and mobility technology specialists to usher in a new era of intelligent urban electric mobility for customers. The company’s electric scooters and bikes are available for all riders, from the young to the old, from fashionable buyers and comfort seekers to busy business riders. Every product is subjected to rigorous durability and dependability tests. Odysse provides every customer with a comprehensive package of quality, comfort, and style at an affordable price. Presently, the brand product portfolio includes: - 

Electric motorcycle VADER (with 7” Android display, IOT, four drive modes, 18-liters storage space, Google Map Navigation) 

Electric bike EVOQIS (with four drive modes, keyless entry, anti-theft lock and motor cut-off switch) 

Electric scooter HAWK (India’s first electric scooter with cruise control & Music system) 

E2Go & E2go+ (electric scooter with portable battery, USB charging, digital speedometer and keyless entry) 

Electric scooter V2 and V2+ (waterproof motor, huge boot space, dual battery and led lights) 

Electric scooter TROT for last-mile delivery (Loading capacity of 250 kgs and IoT).  

Refex Industries Limited Reports Its financial results For Q1 FY 2023–24

~Nearly 44% revenue growth from Q1 FY23 to Q1 FY24~ 

Refex Industries Limited (Refex) reported its financial results for the quarter ending 30th June 2023. 

Q1 FY24 Highlights  

Y-o-Y increase in revenue by Rs 116.18 crores (44%) from Q1 FY23 to Q1 FY24. 

Y-o-Y increase in EBITDA by Rs 14.67 crores (67%) from Q1 FY 23 to Q1 FY 24. 

Y-o-Y increase in PBT by Rs 11.17 crores (60%) from Q1 FY 23 to Q1 FY 24. 

Refex has started this financial year with agility and astute planning. The first quarter, where Refex has outperformed the previous FY’s Q1 result, will help build momentum for the year ahead. Refex is confident that it will put in all its dedicated efforts throughout the year focused on delivering exceptional results and exceeding the expectations of the stakeholders.  

Commenting on the first quarter, Anil Jain, Managing Director, Refex Industries Limited, said, “we have started the year with our strong commitment towards building value for our stakeholders. We continue to stay focused in achieving our business goals while serving the communities, society, and the environment. Through our initiatives pertaining to our group’s ESG guidelines within our business units, we will continue to contribute towards our nation’s goals.”   

Other important events in Q1:  

Refex launched ‘Trees for Life’ program on World Environment Day by pledging 1,00,000 trees and planting 2000 trees in collaboration with Greater Chennai Corporation, the civic body that governs the metropolitan city of Chennai (Tamil Nadu) 

About Refex Industries Limited: 

Refex Industries Limited is one of India’s leading business organizations serving across different business lines such as refrigerant gases, ash & coal handling, and power trading. It has been a 20-year-long journey of learning, resilience, and agility that Refex has traversed where it has aimed for excellence. The organisation relies on a strong foundation of principles such as integrity, diversity, dedication, commitment, and competitiveness, and keeps its customers’ and shareholders’ interest at the core. For any queries/ enquiries, you may reach out to ir@refex.co.in 

Linde Launches “Career Enabling Program For Women Professionals”

Linde, a leading global industrial gases company, has recently launched Encore - a program specifically designed for women professionals who wish to restart their careers after a sabbatical.  

The Encore program aims to tap into the talent, and potential of women professionals who are currently on a career break and looking to reskill and retrain. The Encore Training Program reflects the company’s commitment to fostering gender equality and inclusivity within the workforce.  

This program offers an immersive learning experience across various domains like operations, distribution, sales, and finance allowing participants to work alongside experienced professionals. During the training period, participants will receive mentorship, guidance, and regular evaluations to track their progress. The program emphasizes practical, hands-on learning, enabling participants to gain confidence and refine their skills through real-world projects and assignments. 

For women who have taken a career break, returning to work is often challenging. The Encore Training Program seeks to leverage the potential and skills of these women professionals who have temporarily stepped away from the workforce for various reasons. 

Applicants must have a minimum of 3 years of work experience prior to their sabbatical to be eligible for the program.  

“We are excited to launch the Encore Training Program at Linde in India," said Nita Chakravarty, Head of HR, Linde - India, “Encore is a key initiative as we strive to create gender balance and implement more inclusive practices, fostering a progressive culture. We have established an ecosystem to support women professionals. We look forward to training and upskilling the candidates. Our diversity hiring practices follow global best practices, as we continuously evolve to become a more gender-diverse, inclusive company.” 

The Encore Training Program is open to women across age groups, holding postgraduate degrees, diplomas, or undergraduate degrees, who have taken a career break. The program offers comprehensive on-the-job training for a duration of 12-18 months with an aim to help participants refresh their skills and update their knowledge. 

Linde is one of the leading industrial gases companies in India. Linde is dedicated to fostering diversity and inclusivity within the workplace. By launching the Encore Training Program, the organization reinforces its commitment to gender equality and the advancement of women in the workforce.  

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.  

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.