Socomec India Appoints Lohithashan Potti As "Deputy General Manager, Operational Marketing" For Power Conversion Business

Socomec, a global specialist in the design and manufacturing of LV power management solutions, is proud to announce the appointment of Lohithashan Potti as the Deputy General Manager, Operational Marketing of its Power Conversion business in the Greater India region. With over 19 years of experience in the electrical systems, UPS market, solar and energy storage systems, Lohithashan brings a wealth of expertise and leadership to his new role.

Lohithashan joins Socomec from Reliance Power Electronics Ltd, a subsidiary of Reliance Industries Ltd, where he served as the Senior General Manager of Product Management. Prior to this, he held senior roles at Fuji Electric India Pvt Ltd and has a notable history with Socomec itself, having served in various capacities from 2008 to 2016. Throughout his career, Lohithashan has demonstrated exceptional skills in product planning, execution, and lifecycle management, alongside a strong ability to align product vision with market and customer needs.

On this significant appointment, Mr. Meenu Singhal, Regional Managing Director - Greater India, Socomec, said: “We are delighted to welcome Lohithashan back to the Socomec family. His extensive experience and expertise in product management and business development will be invaluable as we continue to innovate and expand our power conversion solutions. We are confident that his leadership will drive our growth strategy and help us achieve new milestones in the region.”

In his new role, Lohithashan will oversee operational marketing, spearhead product development, and drive strategic initiatives to foster business growth. He will master the offer knowledge, execute the offer strategy in Greater India, and support sales strategy execution while collaborating with other regional teams to optimize results. His primary goals will be to ensure Socomec's solutions exceed customer expectations by prioritizing customer requirements, defining product vision, and working closely with all internal and external stakeholders to achieve revenue and customer satisfaction objectives.

Lohithashan expressed his enthusiasm for the new role, stating: “I am excited to re-join Socomec and be part of its journey to success. I look forward to collaborating with the exceptional teams to deliver exceptional value to our customers. By closely aligning with their needs and defining a clear product vision, we will achieve remarkable success and set new benchmarks in the power conversion market.”

Nuvama Gives A BUY Call For Indo Count; Sees Upside Of 22% With A Target Price Of Rs. 433

Highlights of financial Results:

Revenue rose 35% YoY to INR1,093cr (est. INR850cr) on higher volumes (up 40% to 28.6mn metres). Average realisation fell 3% YoY owing to a correction in cotton prices.

Gross margin contracted by 30bp YoY to 55% due to a change in the product mix. EBITDA grew 15% YoY on higher revenue (INR165cr versus our estimate of INR146cr), with a 280bp contraction in EBITDA margin to 15.1% on lower gross margin and higher marketing expenses (up 200bp).

PAT fell 3% YoY to INR92cr (est. INR92cr) on lower other income.

Revenue/EBITDA/PAT grew 18%/23%/22% in FY24 on higher volumes and positive operating leverage.

Sparx Unveils Its New Spring Summer Range For Indian Youth in 2024

* Experience Fashion And Comfort With Sparx's Stylish Collection For 2024

Sparx, the most trusted brand among Indian youth, has launched its product range for Spring Summer Collection 2024. The new range exudes stylish design and seamlessly blends functionality with fashion.

Speaking on the launch, Mr. Gaurav Dua Executive Director, Relaxo Footwear Ltd., said, “We're thrilled to unveil our new Spring Summer Collection, designed to meet the demands for stylish yet comfortable footwear. Made from lightweight, moisture-wicking materials featuring customizable fits, the versatile designs of the new range are ideal for both casual outings and daily activities. We are committed to providing an exceptional customer experience, and we believe this new collection will become the top choice for those seeking both elegance and practicality this season."

Sparx's new collection redefines fashion, style, and comfort with lightweight sandals made from sweat-wicking fabrics. Featuring adjustable fits, the new range support users of all genders and ages in their daily activities. The collection also offers a range of ultra-comfortable and trendy slippers. The digital campaign featuring the tagline "Sparx It's In Me" has already been launched across various platforms to bolster the company’s marketing efforts.

Sparx has gone all out to secure visibility and space at major retail outlets for the new Spring Summer Collection. Available at over 405 Exclusive Brand Outlets (EBOs) and leading footwear stores, the perfectly tailored collection is also available on www.relaxofootwear.com to meet the demands of the contemporary Indian lifestyle.

City Of Varanasi Along With Two Global Cities Chosen To Host Toyota Mobility Foundation’s $9m Sustainable Cities Challenge

*       Host cities Varanasi, Detroit, and Venice have been selected and are working with Toyota Mobility Foundation, Challenge Works, and World Resources Institute to design local open innovation challenges tailored to their respective mobility needs.

*        The challenge aims to help cities reduce carbon, improve access, and enhance data-driven concepts for more resilient transport systems

*        Challenges will be launched in the upcoming weeks inviting innovators from around the world to address mobility obstacles identified by each city.

The Toyota Mobility Foundation (TMF) today announced that Varanasi along with two global cities, Detroit and Venice, have been selected to host innovation challenges as part of the Toyota Mobility Foundation’s Sustainable Cities Challenge.  The goal of the $9 million global initiative is to help cities accelerate toward sustainable mobility, fostering healthier and safer urban environments while enhancing people's ability to commute, work, study, and access services.

Over 150 cities from 46 countries entered the Sustainable Cities Challenge after the call to cities was first launched in June 2023. In November 2023 the shortlist of 10 cities were announced from which the top 3 were chosen as the finalists. Now, the three selected cities will launch their own City Challenges inviting global innovators to work with them with Varanasi launching its City Challenge on June 27, 2024. Innovators could be from anywhere around the world – residing both locally or anywhere else, but the solutions must be applicable and tailored to meet the mobility needs of the winning cities. In late 2024, solutions that best meet the needs of the cities will be selected and have access to a share of USD 3 million per city in innovation grants to demonstrate and pilot test. In 2026, winners of the challenge will be selected for further scaling and implementation.

As one of the most prominent heritage cities in India, Varanasi experiences huge influx of tourism, which, while vital to strengthening the city’s tapestry of faith and culture, brings with it concerns of safety and crowding. The Varanasi City Challenge creates an opportunity to address these issues by generating innovative, data-driven solutions incorporating elements of technology and design. Overall, the aim is to make the city, and particularly the crowded areas of Varanasi’s old city (Kashi), safer and more accessible to pilgrims, local residents and the vulnerable populace.

Akshat Verma, IAS, Municipal Commissioner/Chief Executive Officer, Varanasi Municipal Corporation/Varanasi Smart City said, “Participating in the Toyota Mobility Foundation’s Sustainable Cities Challenge presents an exciting prospect for Varanasi. This initiative offers us a valuable chance to explore technical and design related avenues for enhancing mobility within our city, benefiting both our residents and the growing tourism. By collaborating with innovative minds, we aim to bolster Varanasi’s reputation as a premier global tourist destination. We eagerly anticipate the opportunity to work closely with TMF, their partners, and experts to achieve this goal.”

Speaking about the initiative, Mr. Pras Ganesh, Executive Program Director, Toyota Mobility Foundation, said, “As the Toyota Mobility Foundation, we are passionate about the freedom of mobility, and the opportunities that such mobility can unlock for individuals and communities. With like-minded partners such as World Resources Institute and Challenge Works, we seek out innovative solutions to overcome the barriers that hinder these opportunities.

The Sustainable Cities Challenge, our global challenge that matches visionary cities and the most creative innovators, will now focus on the 3 incredibly dynamic cities of Varanasi, Venice, and Detroit. We will now seek out the most innovative ideas that solve these cities’ most pressing mobility issues, and ensure that identified ideas can be scaled, replicated, and amplified globally”.

Elated with Varanasi making to the final list, Mr. Vikram Gulati, Country Head and Executive Vice President for Corporate Affairs and Governance, Toyota Kirloskar Motor said, "We at TKM are thrilled that Varanasi has been chosen as one of the global cities in the Toyota Mobility Foundation’s Sustainable Cities Challenge. At Toyota, we are committed to redefining mobility—extending beyond traditional automotive solutions to encompass human-centric, sustainable urban transportation. The Challenge in Varanasi exemplifies our dedication to this vision by providing a platform that bridges innovative minds and local stakeholders. Also, closely aligned with our global commitment to producing “Happiness for All”, I am confident that this initiative will not only transform Varanasi but also contribute significantly to the global pursuit of creating more sustainable urban environments. The solutions could also act as a template that could be replicated not only in India but also globally providing potential solutions to city planners.” 

More about the Challenge:

The three City Challenges will focus on different areas of sustainable mobility relevant to their specific context, spanning the expansion of access to safe, affordable, and inclusive modes of transportation. Potential solutions could harness the power of data to create connected and resilient mobility or ecosystems or reduce environmental impact through low-carbon and renewable solutions.

The three cities have been working with Toyota Mobility Foundation alongside Challenge Works and World Resources Institute (WRI) to finalize their Challenges. They are focusing on areas of their respective mobility barriers that could be best addressed through open innovation. They have been consulting with local organizations and wider stakeholders to inform the design of their respective Challenges.

Innovators from across the globe with solutions ready to be tested are invited to respond to the specific issues of each city as each City Challenge launches over the next two months. The innovative solutions that best meet the needs of the city (or the criteria for the City Challenges), will be selected to be supported. Together, the cities and selected innovators will test, further develop, and deploy solutions using real-world data, with access to transportation departments and infrastructure.

The Sustainable Cities Challenge is funded by the Toyota Mobility Foundation and has been designed in partnership with Challenge Works and World Resources Institute to bring cities and innovators together to develop sustainable, inclusive, data-driven mobility solutions fit for the future.

For more information about the Sustainable Cities Challenge and the Toyota Mobility Foundation, please visit the official website at Sustainable Cities Challenge website. 

About Toyota Mobility Foundation (TMF):

Established in August 2014, the Toyota Mobility Foundation (TMF) is dedicated to fostering a more mobile society in which everyone can move freely. By leveraging Toyota's expertise and technologies, TMF partners with various stakeholders to address mobility issues worldwide, aligning its initiatives with the UN Sustainable Development Goals (SDGs).

About Challenge Works:

Challenge Works is a global leader in designing and delivering open innovation challenges to solve pressing problems and drive change. They incentivize innovative thinkers to solve complex issues and reward the most promising solutions.

About World Resources Institute:

The World Resources Institute (WRI) is a global research organization that collaborates with partners to develop practical solutions for improving people's lives and ensuring the thriving of nature.

Manipal Academy of Higher Education, Bengaluru To Host First Edition of Monsoon School

*  The Monsoon School is a six-day program with no registration fee.

The First Edition of the Monsoon School is a 6-day design hack lab to respond to challenges in environment, climate change, nature-culture relations and design, and will be held from 24th to 29th June 2024, in Manipal, Karnataka. The Monsoon School is organized by Dr. Deepta Sateesh, holder of the Dr. TMA Pai Endowment Chair in "Adaptive Ecologies and Climate Extremes - Decolonising the Anthropocene", and is in collaboration with the Manipal School of Architecture and Planning, Centre for DWEEPA, and Centre for SADBHAVA, MAHE, Manipal.

This design lab will focus on the regions between the Southwestern Ghats and Coastal Karnataka,  an ecologically sensitive place, home to human, and nonhuman beings, and unique natural  features and climate. This region is also undergoing urbanization and maldevelopment at a rapid pace. The region is impacted by the Southwest Monsoon that brings rain and water to the Southern Peninsula of India and the Subcontinent that ideally suits a study of  the monsoon. 

We welcome participants who are ecologists, architects, urban designers & planners, tech-savvy enthusiasts and counter-mappers, journalists, environment enthusiasts, conservationists, artists, craftspeople, designers, folk artists, archivists, geographers, geologists, archaeologists, trekkers, anthropologists, and such, as well as students or nature enthusiasts with a demonstrable affinity for visualization, mapping, storytelling, performing arts, environment, and place-based research. 

Themes that the Monsoon School will cover include development and conservation, communities and livelihoods, climate change and adaptation, and traditional knowledge and local cultural practices of the region. Eligibility and selection are not age- or experience-based, but determined by diversity of backgrounds and know-how, and motivation.

Registration closes on Monday, 3rd June 2024. Limited seats are available. The Monsoon School will require a 6-day commitment from participants. There are no registration fees.

For further queries, contact at dweepa.maheblr@manipal.edu

Raminfo Limited Registers 109.38 Percent YOY Rise In Net Profit

Raminfo, one of India’s leading technology solutions provider, has declared its financial results for the last quarter and fiscal year ended on 31st March 2024. Raminfo Limited is a listed company on the Bombay Stock Exchange (BSE).

Financial highlights:

During Q4, Raminfo registered Net Profit After Tax (PAT) to the tune of 42.38 lakhs compared to 2.47 crores during Q3

During the Q4, Profit Before Tax (PBT) stood at Rs.91.97 lakhs whereas it stood at 3.33 crores during Q3

Earning Per Share (EPS) during Q4 stood at Rs. 0.69, while it was Rs.3.68 during Q3

Compared to 2023, Raminfo clocked 1.10 crores more in revenue from operations during 2024

Profit Before Tax (PBT) in 2024 stood at 10.42 crores whereas in 2023 it was 8.76 crores

Revenue during Q4 stood at 24.93 crores whereas it was 20.83 crores in Q3

Despite issuance of preferential shares, Earning Per Share (EPS) stood at Rs.9.49 per  share in 2024, compared to Rs.8.69 in 2023

Raminfo’s net revenue stands at 82.09 crores

In the last four years, Raminfo has gone on from being an E-governance solutions provider to a systems integrator to improve the margins from 3.18 % PBT during 2021 to 12.70% PBT in 2024

Commenting on the results, Mr. L Srinath Reddy, MD, Raminfo Limited said, “We continue to see business consolidating and growing, despite a prolonged election season leading to slow-down on administrative decisions of governments. We continue to innovate and consolidate our position as an end to end e-governance project implementer. The quiet period has also presented us with an opportunity to chart out a plan for major expansion. As we move forward, Raminfo is on the cusp of embracing cutting edge breakthroughs in Gen AI arena. We are also looking forward to potentials collaborations with Gen AI start ups.”

Key Projects in 2023-2024

Mobile Veterinary Unit – Rajasthan

Raminfo Limited, in consortium with M/s Gunesh (India) Pvt Ltd, has introduced Mobile Veterinary Vehicles to facilitate the “Mobile Veterinary Services” program in the State of Rajasthan. This initiative involves deploying a fleet of 258 four-wheelers equipped with necessary staff, medicines, consumables, and equipment for the operation and maintenance of veterinary services across the state. These mobile veterinary vehicles aim to enhance animal healthcare accessibility, especially in remote and rural areas of Rajasthan. The program aligns with the Department of Animal Husbandry’s efforts to improve veterinary services and promote animal welfare

Jharkand Skill Development Mission

Raminfo Ltd is established Mega Skill Center in the district  of Dhanbad with the help of consortium partner M/s Shri Technology India Pvt Ltd, to implement skill development training programs for the Jharkhand Skill Development Mission. This significant partnership marks a pivotal step forward in empowering the youth of Jharkhand with essential skills for sustainable employment and self-entrepreneurship for 2000 candidates in every year

West Bengal Employment Bank:

Raminfo Limited has successfully designed, developed, and maintained a comprehensive Employment Bank and Yuvasree Job Management Portal. This initiative aims to enhance employment opportunities for job-seekers in the state of West Bengal, for West Bengal Electronics Industry Development Corporation Limited (WEBEL). The Employment Bank serves as a State-owned job portal, providing a unique e-governance platform to widen the window of job opportunities for job seekers in West Bengal.

Odisha Street light

Raminfo Limited is Successfully Completed the Supply, installation, testing and commissioning of LED Street Lighting System on existing LT electric poles with necessary fixtures, accessories and photo switch with timer and Energy Meter each cluster being of 10 (ten) Street Lights along with normal guarantee period and Comprehensive Annual Maintenance Contract for a period of 5 Years on turn-key basis in one Village of each Gram Panchayat (GP) for 310 Clusters under the Kalahandi and 240 Cluster under the Koraput District, Odisha state.

Mobile Common Services Centers

Raminfo Limited has implemented the Mobile Common Service Centre (CSC) program as part of the Digital India initiative. Through this program, they provide e-Governance services using 58 mobile vehicles to reach people residing in hills and remote areas, ensuring access to essential services.

Raminfo in continuation of Citizen Centric Services for Andhra Pradesh State

Raminfo Limited is continuing the Operations and Maintain of Urban MeeSeva Centers (1,600+ centres including franchises covering 400+ G2C and B2C services) in the state of Andhra Pradesh.  Through these MeeSeva centers citizens of Andhra Pradesh are getting all the services of government that are made available electronically.

About Raminfo Limited

Raminfo Limited, (BSE: 530951) is a legacy player with 30 years of experience in e-governance and other tech solutions. They’re a company listed on BSE. Raminfo serves a diverse array of sectors across India, including government, fintech, healthcare, smart energy, IoT, analytics, and engineering.  In the government arena, Raminfo shines with its e-governance, smart lighting, telemedicine, and agro-logistics initiatives, alongside skill development and education programs. Embracing its 2.0 evolution, Raminfo harnesses the power of AI and Machine Learning to venture into new frontiers, crafting comprehensive, multi-vertical ecosystems.

Quest Global Receives RTX Premier Award For Outstanding Performance In 2023

Quest Global, a leading global product engineering services company, today announced that RTX has recognized Quest Global Services with a Premier Award for performance in 2023 and overall excellence in Business Management and Cost Competitiveness. This award, presented by RTX businesses Collins Aerospace and Pratt & Whitney, recognizes Quest Global's exceptional contributions and unwavering commitment to excellence.

As part of the RTX Performance+ Program, suppliers undergo rigorous assessment each year to evaluate their performance and value delivered to RTX across vital categories, encompassing Cost Competitiveness, Technology & Innovation, Business Management, Customer Service, and Collaboration.

"We're incredibly honoured to receive the prestigious RTX Premier Award," said Andrew Lewis, Global Business Head, Aerospace & Defense at Quest Global. "This accolade truly reflects our steadfast dedication to providing superior solutions and driving value for our customers. We owe this achievement to our employees and extend our heartfelt gratitude to our valued customers for their trust and partnership. Together, we've achieved remarkable milestones, and this award is a celebration of our collective achievements."

As a trusted partner in the engineering services industry, Quest Global remains committed to delivering innovative solutions, fostering collaboration, and exceeding customer expectations. Its commitment to performance excellence ensures customer success globally and builds a strong foundation for continued success. This recognition strengthens Quest Global's leadership position in the engineering services space and reinforces its commitment to excellence in all business operations.

About Quest Global

Founded in 1997, Quest Global is one of the world’s leading engineering research and development (ER&D) services companies. Quest Global believes engineering has the unique opportunity to solve the problems of today that stand in the way of tomorrow. For more than 25 years, we have strived to be the most trusted partner for the world’s hardest engineering problems. As a global organization headquartered in Singapore, the team at Quest Global live and work in 17 countries, with 72 global delivery centers and offices, driven by 17,800+ extraordinary people who make the impossible possible every day. Quest Global delivers world-class end-to-end engineering solutions by leveraging our deep industry knowledge and digital expertise. By bringing together technologies and industries, alongside the contributions of diverse individuals and their areas of expertise, we are able to solve problems better, faster. This multi-dimensional approach enables us to solve the most critical and large-scale challenges across the Aerospace & Defense, Automotive, Communications, Energy, Hi-Tech, MedTech & Healthcare, Rail and Semiconductor industries.