National Sports Director Of Marriot International, Mr Ashutosh Ruia Joins Trinity Entertainment As Chief Business Officer

* Prior to joining Trinity Entertainment, Ashutosh served as the Director of Sports National Sales at Marriott International

Trinity Entertainment announces the appointment of Ashutosh Ruia as the Chief Business officer. Before joining Trinity Entertainment, Ashutosh served as the Director of Sports National Sales at Marriott International, where he played a pivotal role in managing and developing the sports portfolio for Marriott India hotels. His strategic partnerships with prominent entities like IPL, ICC World Cup 2023, ICC T20 World Cup 2024, Pro Kabaddi League, Pro Volleyball League, and various leagues contributed significantly to Marriott's success in the sports industry.

In his new role, Ashutosh will be responsible for leading strategic business initiatives, fostering partnerships, and driving growth opportunities for Trinity Entertainment. With an extensive background in sales, marketing, and business development, Ashutosh brings a wealth of experience and a proven track record of success to the organisation. He is also stepping into his new role to create a one-stop shop that encompasses services not just including best hotel deals but synergising them with Trinity's capabilities and establishing a concierge service that covers logistics, accommodation, travel arrangements local & internationally, and facilitates global team meets, trainings and engagement. This initiative aims to elevate hospitality and travel experiences, offering tailored solutions for businesses and individuals seeking seamless and personalised services. Additionally, he would also play a key role in expanding and strengthening Trinity’s various business verticals of Experiential, Sports & Content Production, and new formed Wedding vertical Eternity  

"We are delighted to welcome Ashutosh Ruia to our team as the Chief Business Officer," said Mr. Fahad, Managing Director of Trinity Entertainment. "His extensive experience and expertise in sales, marketing, and relationship building will be invaluable as we continue to expand our presence and offerings in the industry."

Ashutosh Ruia expressed his enthusiasm about joining Trinity Entertainment, stating, "I am thrilled to be a part of Trinity Entertainment and look forward to contributing to its continued growth and success. I am excited about the opportunities ahead and eager to collaborate with the talented team at Trinity."

Uncertain Macros Weighing Down On FY25 Outlook For The IT Sector: Prabhudas Lilladher

Prabhudas Lilladher (PL), one of India's most trusted financial services organisations in India, in its latest Information Technology (IT) report cited that the revenue growth outlook for FY25 has been discouraging with Tier-1 companies expected to report below mid-single digit growth on average, while Tier-2 companies are capping their revenue growth to high-single digits. Unlike in FY24, companies have become more conservative in FY25 projections, and are baking in anticipated delays in executions and project closure activities. However, if the spending recovery coexists with an anticipated macro recovery in the near-term, then we might see an upward revision to the estimates for the companies as they progress through the year.

The report states that FY24 ended with another quarter of weak performance within IT services. Although the revenue growth was largely in-line or a tad below consensus, the margin improvement or earnings growth was disappointing for selective names. Median revenue growth for the IT sector (Tier-I + Tier-II) came in at +0.7% QoQ CC, wherein Tier-2 companies continued to outpace Tier-1 names and have reported median CC growth of 2.1% QoQ, while Tier-1 revenue growth came in at -0.6% QoQ CC.

The volatility within key verticals (BFSI, Retail and Communications) continue to affect topline performance, although majority of the companies have reported either muted or positive USD growth within BFSI (median +1.9% QoQ), while Retail growth was weak (median –2.3% QoQ). The operating margin was flat QoQ for the sector at 19.7%. Margins for both Tier-1 and Tier-2 (ex-Persistent) companies stayed elevated at ~20.1% and ~15.4% despite weak topline growth, as the net headcount addition declined (~14k QoQ) for the sixth-straight quarter (majorly Tier-1) coupled with lower sub-contracting usage giving further strengths to margins. Providers are experiencing weaknesses in discretionary spending, deferrals of transformation projects, and heightened scrutiny, resulting in delays in execution and constraints on hiring.

The deal TCV for Tier-1+Tier-2 companies during the quarter was strong at ~USD27bn (up +33% QoQ), (ex-TCS, Coforge) and the growth at +10.4% QoQ. Tier-1 (ex-TCS) outperformed the Tier-2 (ex-Coforge) companies with 13.4% QoQ growth in deal TCV, while Tier-2 (ex-Coforge) reported a decline of ~16% QoQ. Median Book-to-Bill (BTB) remains elevated at 1.2x for the sector, however the revenue conversion remains a challenge. The spending reprioritization to core areas and broad-based cost-takeout theme continued through Q4, while project ramp-down or deal cancellations have been more pronounced for few companies at the onset of macro uncertainties.

Other Key Findings from The Report

Leaders and Laggards: Within Tier-1, TCS has relatively outperformed the peers and reported +1.1% QoQ CC revenue growth, while HCLT reported +0.3% QoQ CC (+4.0% CC QoQ for IT Services) over a high base in Q3 (+6.0% QoQ CC). On the other side, Infosys has been the outlier and reported another quarter of decline at 2.2% CC QoQ vs a decline of 1.0% CC reported in 3Q.

Companies doubling down on margins: The demand environment remains unchanged in 4Q with large global enterprises continue to stay cost-focused and reprioritize areas of investments that are critical to their core operations and that can drive immediate ROI

Views on Valuation: The report maintains Prabhudas Lilladher’s stance to remain selective on the Tier-1 names that are carrying diversified business mix, and having built strong ability to capture the current enterprise spends. Additionally, with median payout yield of 3.7%/4.1% YoY in FY25e/FY26e, makes Tier-1 even more attractive.

Herbochem Launches "+91 ASHWAGANDHA" - Extract Optimized For ‘Tech Nutrition’ And ‘Technology-Related Mental Wellness’

Herbochem, one of the oldest and most trusted manufacturers of phytochemicals with over 50 years of industry prowess, proudly introduces ‘+91 ASHWAGANDHA’, a revolutionary nutraceutical product that marks a groundbreaking advancement in the world of Ashwagandha extracts. Expertly developed through an innovative manufacturing process, +91 ASHWAGANDHA is designed to unlock the full potential of Ashwagandha, the world's first full-spectrum extract focused on managing technology-related mental illness. + 91 Ashwagandha® stands out from the rest with its unique extraction technique that not only captures the active compounds but also maximizes the natural macro-nutrients like Potassium and Magnesium offering a comprehensive solution for technology nutrition and mental wellness. With +91 ASHWAGANDHA®, Herbochem ushers in a new era of holistic well-being, empowering individuals to thrive in the face of modern-day stressors and embrace a balanced, resilient lifestyle.

"We take immense pride in offering this proprietary, branded product - +91 ASHWAGANDHA, meticulously standardized to 7% Withanolides through state-of-the-art HPLC analysis. Our extract is a masterful blend of Ashwagandha roots, leaves, and a water-extracted fraction, carefully combined in an optimized ratio that we fondly refer to as the 'golden ratio.' This unique formulation is engineered to address the growing challenges of technology-related mental illness, providing a natural solution for combating stress, anxiety, and depression exacerbated by our increasingly digital lifestyles," stated Mr. Karthik Kondepudi, Partner at Herbochem.

In a testament to Herbochem's unwavering commitment to quality and innovation, the company conducted rigorous clinical studies, comparing +91 ASHWAGANDHA® with leading brands in the market. The results were resoundingly positive, solidifying Herbochem's confidence in this groundbreaking product.

Ashwagandha, an adaptogenic herb revered in Ayurvedic traditions for centuries, is renowned for its ability to promote balanced mental and physical well-being. However, Herbochem recognized a gap in the market and a need for innovation and focus on optimizing Ashwagandha extracts for specific indications. Thus, +91 ASHWAGANDHA® was born, a result of tireless efforts to address the growing demand for natural solutions to manage mental health concerns. An imbalance in mental health can lead to stress, anxiety, depression, and insomnia. Research on Ashwagandha's root, leaves, and aqueous extract, which contains oligosaccharides, revealed beneficial effects on mental health. We created a full-spectrum Ashwagandha extract, combining the plant's root, leaves, and aqueous extract in an optimized ratio. This natural product aims to manage common mental health concerns effectively.

About Herbochem:

Established in 1973, Herbochem has evolved into a trusted family-owned organization dedicated to providing natural products, including plant extracts, herbal extracts, and nutraceutical ingredients. With a legacy spanning over five decades, Herbochem is a key player in the herbal industry, contributing to sectors such as nutraceuticals, health, and cosmetics. Herbochem is a forward-thinking organization with a rich history in the herbal industry. Combining traditional wisdom with modern scientific research, Herbochem is committed to promoting health and wellness through traditional remedies and botanical extracts. The company's dedication to research and development, quality, and innovation positions it as a reliable and innovative partner in the herbal and natural products sector.

India's Tech-Enabled Omnichannel Pet Care Brand Zigly Announces Vet Care Services In Bengaluru

Zigly, (Cosmo First Limited) India’s first tech-enabled omnichannel pet care brand is going to extend its services to vet care at the experience centers located in Koramangala, Whitefield, and HSR Layout in Bengaluru. This is in line with Zigly expanding its services across key metros in meeting the increasing demand for affordable as well as standard pet care facilities within India.

The number of pets in India has crossed 20 million because of rising acceptance of pets, changing family structures, evolving lifestyles, and increased awareness towards pet health and wellness. Nevertheless, over 70% of pets in India do not receive regular veterinary care and just 10% receive preventive healthcare. When a pet’s medical situation arises, a lack of emergency veterinary access can result in serious complications.

With its vision to deliver more for pet parents and take cognizance of the rising medical care requirement, Zigly will provide quality vet services across its experience centers and give pet parents much-needed veterinary support. The vet services will include consultations, preventative care, diagnostics, and surgery facilities.

Sharing her views on the launch of the vet care service, Dr. Anuradha, Veterinary, Zigly Koramangala Store said, "At Zigly, we aim to provide a 360-degree pet care ecosystem to ensure our furry friends are happy and healthy. We have now added veterinarian care at our Bengaluru experience centers that will allow pet owners access to quality treatment, preventive healthcare, surgical facilities, etc. all under one roof. We merge sophisticated research with a caring attitude towards pets so that we can give them the best attention possible.”

Emphasizing the importance of vet care services, Dr. Ravi Verma, Senior Veterinary, Zigly HSR Layout, said, “With our vet care service across our Zigly Experience Centres in Bengaluru, we are here to address this dilemma for every pet parent, especially the new pet parents who can benefit from our team of experts."

Zigly is targeting the veterinary sector intending to develop it as a supporting industry in India’s animal care market.

About Zigly:

Zigly is an omnichannel platform for pet care - food, products, healthcare, grooming, vet consultation, behaviour consultation, and more. With multiple experience centers across India (Delhi, Punjab, Karnataka, Uttar Pradesh, Madhya Pradesh, Uttarakhand, Haryana, Rajasthan), Zigly is planning to expand its physical presence by opening new stores in other major cities. It is a D2C pet care brand under the umbrella of Cosmo First. Recently, the company launched India’s first D2C pet care app  Zigly App.

www.zigly.com

About Cosmo First Limited:

Established in 1981 and founded by Mr. Ashok Jaipuria, Cosmo First is a global leader in specialty films and an emerging player in speciality chemicals (Masterbatches, Adhesive, & Coating), Cosmo Plastech and Cosmo Sunshield, along with a digital-first Omni channel Pet care business under the brand name ‘Zigly’. Cosmo First is into D2C, B2B2C and B2B businesses and has operations in India, Japan, Korea, Europe, and the Americas. Visit www.cosmofirst.com for more details. www.cosmofirst.com

Zomato Records Blistering Growth With Profitability As Blinkit Drives Upside

BUY

TARGET PRICE (Rs) : 230

We interacted with industry participants to get a better understanding of the Quick Commerce (QC) business. Key takeaways: a) QC companies have found good product market fit in metros and large cities. They are gradually expanding their coverage in these markets and testing adjacent markets in a calibrated manner. b) 3 major QC companies – Blinkit, Instamart, and Zepto — compete head on with each other and the market-share gap is not so wide. c) QC companies have seen limited success globally and key variables driving success in India are: i) population density, ii) high prevalence of unorganized retail/local kirana stores enables QC companies to exercise relative buying power with scale, and iii) cheap labor costs. We have increased our FY25/FY26E EPS by 41-52% (EBIT by 18-20%) factoring-in higher growth/margin assumptions for Blinkit and lower ETR. With better clarity on product-market fit and roadmap to profitability for Blinkit, we now value it on DCF, compared to 1x FY26E GOV earlier. We retain BUY with a TP of Rs230/share (earlier Rs170) on SOTP basis; increase in TP is largely driven by Blinkit.

Food delivery business to maintain momentum

Food delivery GOV grew 20.5% in 9MFY24 (27% in Q3) after being muted for the previous 3Qtrs (Q2-Q4FY23). We expect healthy growth momentum in the near term on the back of steady increase in MTUs and ordering frequency, benefits accruing in take rate from new restaurants addition (21.5% YoY; providing more choices to consumer base thereby driving better network effect; joining at better-than-blended rates), and reducing dispersion in commission rates and platform fees. Delivery take rate has reduced over the last few quarters to 3.8% of GOV in Q3FY24 vs 6.2% YoY (Exh. 4), partly due to growing orders by Zomato Gold customers (~20% of MTUs but accounted for ~40% of GOV in Q2FY24). Company has started charging platform fees on all orders and is piloting priority delivery feature for extra fees in some locations.

QC companies’ product market fit is well established by now

QC companies have struck a chord with Indian consumers, particularly the urban digitally native (GenZs and millennials), who started ordering everyday needs across product categories via app, which is delivered within minutes. This led to the category becoming one of the most transacted categories online in the country. Household grocery purchase can be broken into 3 types: monthly, weekly/daily, and unplanned. QC companies started by catering to the needs of third type, but then gradually moving to the first two types. These companies have gradually expanded TAM by entering into newer categories. This shift will drive frequencies, AOV, and contribution margin. Overall, the value proposition hinges on both convenience and value (better experience at cost, lower than alternatives, mainly convenience/kirana stores), which is driving more clicks and wallet share gain. Brands are therefore looking to build visibility with a highly engaged and fast-growing customer base with spending power. Growing customer base with increasing frequency per customer (repeat transactions) augur well for profitability. Blinkit has sustained industry-leading AOV on the back of higher SKU availability, order fulfilment rates, better customer insights, and superior execution, which also aided profitability.

Earnings revision and valuation

We increase our revenue estimates by 0-2% and profit/EPS estimates by 42-53% for FY25/26E, factoring-in better profitability in Quick Commerce and lower ETR. With better clarity on product-market fit and roadmap to profitability for Blinkit, we now value it on DCF basis, compared to 1x FY26E GOV earlier. We retain BUY with a TP of Rs230 (earlier Rs170) on SOTP basis; valuing the food delivery business at Rs121 (DCF basis), Blinkit at Rs90 (DCF basis), and cash and other investments at Rs18 (book value).

CARE Hospitals Group Honours Their Nurses On International Nurses Day With CSR-Driven Environmental And Social Initiatives

CARE Hospitals Group, a leading multi-specialty hospital chain in India, committed to both medical excellence and corporate social responsibility (CSR), commemorated International Nurses Day with a week-long tribute to its dedicated nursing staff. Guided by Jasdeep Singh, Group CEO, CARE Hospitals Group, and led by Dr. Vincy Ashok Tribhuvan, VP-Nursing Administration, CARE Hospitals Group, and Supported by Dr. Abdul Nafeh, HCOO of CARE Hospitals, Musheerabad, the initiative showcased the profound impact nurses make beyond the walls of the hospital.

In collaboration with the Guru Nanak Mission Trust, CARE Hospitals' nurses participated in a tree plantation drive at the Veritas Sainik School campus. Over the course of the week, more than 100 saplings were planted, symbolizing the nurturing care provided by the hospital's nursing professionals and reaffirming the Group's commitment to environmental sustainability through CSR initiatives.

Jasdeep Singh, Group CEO, CARE Hospitals Group emphasized the importance of sustainability in healthcare, stating, "As healthcare providers, it's imperative that we prioritize initiatives that promote a healthier environment for our communities. Our collaboration with the Guru Nanak Mission Trust underscores our dedication to sustainability and community welfare through CSR endeavors. The commitment of our nurses to uplift others, whether through patient care or community engagement, is truly inspiring."

In addition to the tree plantation drive, CARE Hospitals' nursing leadership team visited The Little Sisters of The Poor old age home in Secunderabad, where they shared moments of joy and kindness with elderly residents. The day included a heartfelt cake-cutting ceremony and the presentation of essential items, bringing comfort and cheer to the residents.

"Our nurses are the heart and soul of CARE Hospitals, embodying the spirit of healing and compassion every day. Through initiatives like this, we not only celebrate their invaluable contributions to patient care but also extend our commitment to environmental stewardship. Our nurses exemplify the values of empathy and service, not only within the hospital but also in the broader community," said Dr. Vincy Ashok Tribhuvan, VP-Nursing Administration, CARE Hospitals Group.

As CARE Hospitals Group continues its mission to provide compassionate care and support sustainable initiatives through CSR activities, the International Nurses Day celebration serves as a testament to the enduring impact of nursing professionals on both health and society.

About CARE Hospitals:

CARE Hospitals Group is a multi-specialty healthcare provider operating 17 healthcare facilities serving 7 cities across 6 states in India. The network has a presence in Hyderabad, Bhubaneswar, Vishakhapatnam, Raipur, Nagpur, Indore & Aurangabad. A regional leader in South and Central India and counted among the top 5 Pan-Indian hospital chains, CARE Hospitals delivers comprehensive care in over 30 clinical specialities, with over 3000 beds. CARE Hospitals is a part of Quality Care India Limited, India’s largest hospital chain focusing on emerging cities in South Asia, operating 25 healthcare facilities across 13 cities.

Honda inaugurates new R&D Facility in Bengaluru to Accelerate Electrification in India

Honda R&D (India) Private Limited (HRID), a subsidiary of Honda Motor Co., Ltd. and functioning as Honda’s research and development arm for motorcycles & power products in India, today Opened its new Solution R&D Center in Bengaluru, Karnataka.

Honda has set a global target of achieving carbon neutrality in all its products and corporate activities by 2050. The company is working to make a wide range of its products carbon neutral in terms of their power sources. In the motorcycle business, Honda is aiming to achieve carbon neutrality for all its motorcycle products during the 2040s.

Shifting to India where economic development continues, in 2021, the Indian government announced at the United Nations Framework Convention on Climate Change (also known as 26th Conference of the Parties, COP26) that the country will work towards achieving net zero greenhouse gas emissions by 2070.

Under such environmental change, Honda believes that in order to continue to be chosen by customers, the company needs not only to respond to electrification trends, but also to create new value outside of the established framework and provide more attractive products and services.

The Solution R&D Center will incorporate advanced mobility technologies into electrified vehicle development more quickly, as well as work on software and connected services through ‘co-creating’ open innovation by adopting technologies and ideas of research and development companies. In addition, by taking advantages of ‘ecosystem*1’ from its geographical location, the Solution R&D Center in Bengaluru will be partnering with companies with new ideas to develop new services and businesses that go beyond the scope of existing businesses and products from a long-term perspective.

Furthermore, Honda will actively work to solve social issues, such as the effective use of energy through Honda’s Triple Action to ZERO*2 initiative (carbon neutrality, clean energy, and resource circulation), and the prevention of traffic accidents to realize a society with zero traffic collision fatalities*3.

Honda will continue to provide products with new added value that is uniquely Honda, through various technological advancements and innovations, bringing ‘the joy of freedom of mobility’ to its customers.

*1 A common profit environment for products and services established by multiple companies.

*2 Honda’s three pillars to achieve zero environmental impact throughout the life cycle of products and corporate activities by 2050.

*3 Honda aims to achieve zero fatalities in traffic accidents involving Honda motorcycles and automobiles globally by 2050.

Photo Caption: From L to R (Sitting): Mr. Koichiro Honda - Director & OH (SRC) (HRID), Mr. Tomoyuki Maruyama - GM (HM), Mr. Tsutsumu Otani - MD, President & CEO (HMSI), Mr. Hiroshi Tokutake - EVP (ASH), Mr. Mikio Uchiyama President & CEO (HRID), Mr. Masayuki Hamamatsu - GM (HM).