AJAX Engineering Charitable Trust Partners with Doddaballapura General and Maternal &Child Hospital to Enhance Rural Healthcare

AJAX Engineering Charitable Trust (ACT) in partnership with the General and Maternal & Child Hospital, Doddaballapura has handed over the newly constructed Outpatient Department (OPD) along with pharmacy today in presence of various dignitaries, including elected representatives of Doddaballapura Taluk, municipal councillors, and members of the hospital. This initiative is part of AJAX's Corporate Social Responsibility (CSR) efforts to address the infrastructural challenges faced by the existing OPD, which currently manages over 800 cases daily.  Also, AJAX Charitable Trust recognized the Non-availability of a Blood Bank facility in the region. To date, AJAX has invested approximately two crore INR in this project, alongside further investments for setting up a Blood Bank and Dialysis Centre.

The new OPD, located on the ground floor, is capable of handling 600 cases per day, while the Dialysis Centre will include 10 beds. Additionally, Blood bank which will be on the first floor will cater to the immediate need of blood for patient use.

These enhancements are designed to alleviate pressure on the current healthcare infrastructure and ensure timely medical care for patients. This initiative aligns government objectives to strengthen rural healthcare through sustainable and impactful public-private partnerships, anticipating the growing need for robust healthcare services in the region.

Sri Dinesh Gundu Rao, Minister of Health & Family Welfare, lauded the initiative, stating: “Strengthening rural healthcare infrastructure is a top priority for the government, and it is heartening to see companies like AJAX Engineering actively contributing to this mission. This project will go a long way in improving medical access for rural communities.”

Sri K.H. Muniappa, Minister of Food & Civil Supplies Consumer Affairs, commented on the partnership: “This initiative demonstrates the power of public-private partnerships in driving social change. AJAX Engineering Charitable Trust’s contribution will help address the healthcare challenges in Doddaballapura and provide much-needed services to the community.”

The event was attended by various dignitaries, including elected representatives of Doddaballapura Taluk, municipal councillors, and members of the hospital’s health protection committee.

Speaking on behalf of AJAX Engineering, K Vijay Chairman, “The development of these critical healthcare facilities in Doddaballapura is an essential response to the increasing demand for medical services in the region. By supporting the construction of the OPD, Blood Bank, and Dialysis Centre, we aim to ensure timely access to life-saving care for residents. This project reflects AJAX’s commitment to addressing specific community needs through meaningful, targeted initiatives that create lasting value.”

The expansion project at the hospital is aimed at responding to the increased patient demand observed in recent years, which has placed significant strain on the hospital’s infrastructure. The new facilities will offer enhanced treatment options, particularly for those requiring outpatient care and dialysis services, which are crucial for managing chronic health conditions in the community.

Photo Caption  Sri KH Muniappa, Govt. of Karnataka and District In-charge Minister, Bangalore Rural District, Sri Dinesh Gundurao, Hon’ble Minister of Health and Family Welfare, Govt. of Karnataka, and Mr. K Vijay, Chairman, Ajax Engg. Charitable Trust.

Sheela Foam Achieves Double-Digit Growth In Q2 FY25, Strengthening Market Position In B2B And B2C

Sheela Foam Limited, India's leading PU Foam manufacturer and the parent company of flagship brands Sleepwell and Kurl-on, today announced its financial results for the second quarter and half-year ending September 30, 2024. The company reported solid growth across its segments, bolstered by post-acquisition synergies that have strengthened both its B2B and B2C divisions.

The successful integration of Sleepwell and Kurl-on under Sheela Foam Limited has provided synergy benefits exceeding Rs. 100 crores annually, enhancing overall profitability. Operational streamlining, market expansion, and optimized resource management have contributed to a stronger foundation, allowing Sheela Foam to deliver sustained value for customers and stakeholders in the sleep solutions industry.

Q2 FY25 Financial Highlights (Including Kurl-on):

Mattress Segment: Volume growth of 19% YoY, reflecting a strong demand in the sleep industry

Sleepwell: 40% YoY growth

Kurl-on: 26% YoY growth

Foam Segment: 11% YoY growth, with increased penetration in industries including automotive, footwear, lingerie, and ancillary markets

Standalone Financial Performance:

For Q2 FY25, Sheela Foam’s standalone revenue reached INR 602 crores, marking a 42% increase year-over-year. EBITDA grew by 54% YoY to INR 70 crores, with an EBITDA margin of 11.7%. Net profit stood at INR 43 crores, representing a 12% increase from the prior year.

Consolidated Financial Performance:

On a consolidated basis, Sheela Foam reported revenues of INR 813 crores for Q2 FY25, a 32% YoY increase. EBITDA was INR 69 crores, reflecting a 5% YoY rise, with margins at 8.5%. Net profit was recorded at INR 9 crores.

Strategic Growth and Product Innovation:

Q2 FY25 also marked the launch of advanced products, such as the Spinetech, Orthomagic, and Pro FitRest mattresses, recommended by the Indian Association of Orthopaedic Surgeons and the Indian Association of Physiotherapists. These offerings, alongside an extensive distribution network of over 20,000+ touchpoints, have strengthened Sheela Foam’s market footprint and contributed to the 19% YoY growth in the mattress segment.

Other business areas, including furniture cushioning, Comfort Foam, and Technical Foam, also recorded substantial volume gains, driven by demand in sectors such as automotive, footwear, lingerie, and other ancillary markets.

Management Commentary: 

Mr. Rahul Gautam, Executive Chairman, Sheela Foam Limited, stated, “Both Sleepwell and Kurl-on brands have entered their desired orbits, showing impressive volume growth in Q2FY25 while maintaining strong margins. We remain committed to delivering customer-centric innovation across all areas of our business.” 

Mr. Tushaar Gautam, MD, Sheela Foam Limited, added, “We have unlocked additional value by optimizing costs post-integration, resulting in an adjusted EBITDA nearing 10% for Q2FY25 of India business, primarily driven by synergies across raw material, logistics, and manpower rationalization.” 

About Sheela Foam Limited: 

Sheela Foam is leading the science of comfort in three continents. With over 25+ benchmark manufacturing plants in Europe and the Asia Pacific, Sheela Foam is among the most R&D-driven foam manufacturers in the world. For more than 50 years, it is driving the foam industry with competence and commitment to quality thus becoming an establishment for benchmark innovation. Sheela Foam has two international subsidiaries—Joyce Foam in Australia and Interplasp in Spain. Sheela Foam’s focus on R&D and quality assurance has led to international certifications and recognition for foam quality. Sleepwell and Kurl-on are the leading brands of Sheela Foam in India. Their product excellence and innovations stand on the shoulders of Sheela Foam’s innovative DNA.  

Over 40 Nationalities Come Together To Celebrate Diwali At Canadian International School, Bangalore

Over 40 nationalities from Canadian International School, Bangalore, brought the school’s auditorium to life with a truly sparkling display for the Festival of Lights. The community celebrated an Umang Bhari Diwali — a fitting theme to describe the vibrant performances that took place today.

This year, CIS put together an artistic embodiment of our rich Indian heritage with performances that effortlessly blended modern Bollywood with the warmth of Indian tradition. The result was a beautiful harmony of diverse cultures across varied age groups.

"It is truly inspiring to see our community unite with such enthusiasm to not just celebrate Diwali, but to also rejoice in the unity that arises from celebrating our differences,” commented Shweta Sastri, Managing Director, Canadian International School Bangalore.

Archna Jha, HoD English shared, “Diwali is the only festival that spans two yuga or ages in time, that together symbolise joy, hope, abundance and prosperity. These are also the values and sentiments that we celebrate here at CIS with our community of over 40 nationalities coming together to not only respect the diversity of the school, but also celebrate the message it promotes.”

The celebration was a treat for all attendees and a wonderful bonding opportunity for the community who spent weeks prior to the event choreographing and rehearsing their routines.

Devyani, a grade 5 student, shared her love for Diwali at CIS saying, “Today I feel proud to be on stage singing with my peers. It’s really nice to see so many cultures perform because it’s opening my knowledge about the practices of different cultures.” “I love that during Diwali at school we get to wear colourful clothes, dance for our parents and eat yummy sweets,” said Sumaiyyah, a grade 4 student.

The event exemplified CIS’s commitment to nurturing a global environment, bringing together individuals from different backgrounds to celebrate their unique contributions.

Each year it’s wonderful to see our diverse community growing and coming together to embrace the spirit of Diwali,” remarked Dr. Ted Mockrish, Head of School. “It really brings joy to the heart to see so many people from all over the world, young and old, participate in the rich cultural heritage of India, not just through dress, but in song and dance as well to share the light in this community.”

It’s heartwarming to see how people from different parts of the globe bring such infectious enthusiasm to celebrate this Indian festival. This serves as a reminder of the strength that emerges when diverse cultures unite with respect, integrity and joy for each other — the values that CIS was built with over 28 years ago and continues to deliver quality education with today.

10% Of workers Hired This Year Have Job Titles That Didn’t Exist In 2000, Finds LinkedIn’s Work Change Snapshot

* 82% of business leaders in India say the pace of change at work is speeding up as demand for new roles, skills and technologies increases.

* 7 in 10 leaders in India are making it a top priority to adopt AI tools in 2025

* With increasing reliance on HR professionals to help businesses navigate changes in the workplace, LinkedIn is piloting new AI-powered tools to help HR teams focus on their most strategic and important tasks.

Workplace transformation is accelerating at an unprecedented pace, with new data from LinkedIn’s inaugural Work Change Snapshot showing that 10% of workers hired globally in 2024 hold job titles that didn’t exist in 2000. Roles like Sustainability Manager, AI engineer, Data Scientist, Social Media Manager, and Customer Success Manager are now commonplace.

Whether it’s companies rethinking pandemic-era policies around remote work, the emergence of new technologies, or the increased focus on sustainability, LinkedIn’s Work Change Snapshot reveals just how different modern workplaces look compared to just a few years ago. And the speed of transformation is only set to increase: in a study of more than 5,000 global business leaders, LinkedIn finds that 82% of leaders in India agree that the pace of change at work is speeding up.

Global business leaders recognise the transformative potential of Generative AI, with 9 in 10 in India reporting at least one way the technology could benefit their teams, and  7 in 10 making it a top priority to adopt AI tools in 2025. The benefits of embracing AI go well beyond increased productivity. LinkedIn data shows that employees proficient in Generative AI are 20x more likely to develop essential soft skills like professional networking, personal branding, design thinking and creativity, and emotional intelligence – key qualities that drive success in today’s competitive workplace. In fact, the top five LinkedIn Learning courses in India are focused on these critical soft skills, including Communication Foundations and Building Trust. The popularity of courses like Communication Skills for Modern Management and The Manager’s Guide to Difficult Conversations reflects a growing emphasis on these skills across seniority levels.

Ruchee Anand, India Head, LinkedIn Talent Solutions, said, “AI is transforming the workplace like never before. While nearly 82% professionals in India are feeling the impact of rapid change, it’s encouraging to see more companies committed to navigating this shift. As we look to 2025, businesses are increasingly prioritising AI adoption, alongside meaningful investments in upskilling and reskilling their people. Embracing AI is not just about keeping pace; it’s about empowering teams, fostering innovation, and creating resilient workforces ready to thrive. Now is the moment for organisations to champion AI, commit to skill development, and lead confidently into the future of work.”

LinkedIn announces new AI-Powered tools

As businesses race to keep up with a rapidly changing world, HR teams are increasingly relied upon to guide this transformation. In India, 69% of HR professionals report that expectations of them at work have never been higher. Additionally, 6 in 10 admit that experience alone is no longer enough to stay competitive, with over half acknowledging that career growth now depends on embracing AI.

Since the launch of Recruiter 2024, its first generative AI hiring experience, LinkedIn has helped hirers meet their goal of finding qualified candidates faster. To help HR teams focus on their most strategic, people-centric tasks, LinkedIn has announced the launch of new AI products and tools.

LinkedIn's first AI agent, Hiring Assistant, is designed to take on a recruiter’s most repetitive tasks so they can spend more time on their most impactful work—like advising hiring managers, connecting with candidates and creating exceptional candidate experiences. Starting today, recruiters can choose to delegate time-consuming tasks to the Hiring Assistant including finding candidates and applicant review. While recruiters will be able to spend significantly less time on these tasks, they will be in full control throughout the process. Hirers will be able to provide feedback on the candidates throughout the entire process, helping the Hiring Assistant to continuously learn each recruiter's preferences and become more personalised to each hirer. LinkedIn’s Hiring Assistant is available today in charter to a select group of recruiters - in Australia, Brazil, Canada, India, Mexico, Philippines, Singapore and the United States - from companies such as AMD, Canva, Siemens and Zurich Insurance. It will be rolled out to additional global customers over the coming months.

We’re also rolling out a new AI-powered coaching feature in LinkedIn Learning to help professionals practise their interpersonal skills through interactive scenarios using text or voice. The scenarios include practising how to deliver performance reviews, having conversations on work-life balance, and giving feedback to a colleague. LinkedIn is beginning to roll this out today to people who have LinkedIn Learning Hub accounts. Over the coming year, LinkedIn will roll it out to all global learners who have a LinkedIn Learning Hub account or LinkedIn Premium. Over the coming months, LinkedIn is also bringing AI-powered coaching to global audiences for the first time by enabling content discovery in German, French, and Japanese, so learners can find high-quality content in their preferred language library faster. 

LinkedIn has also expanded its LinkedIn Learning library to over 1,000 AI courses, and these three AI professional certificates for talent leaders are free on LinkedIn Learning through the end of year.

About LinkedIn:

LinkedIn connects the world’s professionals to make them more productive and successful and transforms the way companies hire, learn, market, and sell. Our vision is to create economic opportunity for every member of the global workforce through the ongoing development of the world’s first Economic Graph. LinkedIn has more than 1 billion members and has offices around the globe. www.linkedin.com

Methodology:

LinkedIn Executive Confidence Index: Global executive is defined as a VP+ level LinkedIn member who completed the ECI survey in the following 11 countries: US, UK, India, Canada, Australia, Germany, Italy, France, Spain, Netherlands, Brazil; %s vary by country.

LinkedIn Professional Sentiment Survey: LinkedIn’s latest global research was conducted by Censuswide and surveyed over 20,000 professionals across all industries aged 18-77 in the UK, USA, France, Germany, India, Australia, Brazil, the Netherlands, Singapore, KSA, and UAE between September 2–11, 2024.

Work Trend Index Survey: The Work Trend Index survey was conducted by an independent research firm, Edelman Data & Intelligence, among 31,000 full-time employed or self-employed knowledge workers across 31 markets between February 15, 2024 and March 28, 2024. This survey was 20 minutes in length and conducted online, in either the English language or translated into a local language across markets. One thousand full-time workers were surveyed in each market, and global results have been aggregated across all responses to provide an average. In the US, an additional sample of 2,800 full-time employed or self-employed knowledge workers was collected across nine sub-regions/metros. Global markets surveyed include: Argentina, Australia, Brazil, Canada, China, Colombia, Czech Republic, Finland, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Philippines, Poland, Singapore, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, United Kingdom, United States, and Vietnam. Sub-regions/Metros in the United States surveyed include: Atlanta, Austin, Boston, DC Metro, Houston, New York City, North Carolina, Pittsburgh, and the San Francisco Bay Area.

Strong Quarter; Robust Outlook Remains Intact For Bharat Electronics

Rating: BUY | CMP: Rs270 | TP: Rs341

Q2FY25 Result update

Quick Pointers:

*     Order book as on 1st Oct’24 stood at Rs746bn (3.6x TTM sales), while order intake for the quarter was ~Rs23bn.

*     The management re-affirmed the guidance of ~15% revenue growth with 23-25% EBITDA margin and ~Rs250bn order intake for FY25.

We upgrade the rating to ‘Buy’ factoring in the recent sharp correction in stock price with an unchanged TP of Rs341. Bharat Electronics (BEL) reported strong quarterly performance with revenue growth of 14.8% YoY and EBITDA margins expanding by 514bps YoY to 30.3%. Opportunities in defense are expected to sustain for the next 5 years. The company is on track to meet its full-year order intake guidance of Rs250bn, including Rs85bn+ worth of order from programs such as Ashwini Radar, EW suite MI-17, ADFCR-ATULYA and Shakti Phase-4. QRSAM is in advanced stages of finalization and is expected to be awarded in Q1FY26, potentially adding another Rs250bn+ to the order inflow in FY26. Further opportunities are available in Uttam Radars for LCA Mk1A, artillery systems being developed by private players, naval products and Kavach for the Indian Railways. The company has streamlined LRSAM and other big-ticket items, leading to easing up of supply chain disruptions and better execution. Additionally, 85%-88% of the products supplied are indigenized, and further indigenization efforts are expected to drive margin expansion.

We remain positive on long-term growth story of BEL given 1) strong order backlog & order pipeline 2) diversification in newer business verticals like, hydrogen fuel cell, EV batteries etc., 3) focus on export markets (Egypt, Malaysia etc.) and 4) govt’s focus on product indigenization. The stock is currently trading at PE of 43.0x/35.7x on earnings of FY25/26E. We value the stock at a PE of 45x FY26E (same as earlier).

Gross margin expansion and higher other income drove PAT growth: Standalone revenue rose 14.8% YoY to Rs45.8bn (PLe: Rs47.0bn). Gross margin expanded by 449bps YoY to 53.4% (PLe: 45.2%). EBITDA grew 38.2% YoY to Rs13.9bn (PLe: Rs11.0bn). EBITDA margin increased by 514bps YoY to 30.3% (PLe: 23.4%) led by the gross margin expansion and employee cost leverage (down 68bps YoY as a % of sales). PBT grew 35.2% YoY to Rs14.5bn (PLe: Rs11.7bn). PAT rose 34.3% YoY to Rs10.9bn (PLe: Rs8.8bn) driven by the strong operating performance, despite lower other income (-2.2% YoY to Rs1.7bn).

Order book stands strong at ~Rs746bn (3.6x TTM sales): Order intake for the quarter stood at ~Rs23bn, including a major order worth Rs8.5bn from Cochin Shipyard for the supply of indigenous multifunction radar in X band. Other key orders include order from TRDS for manufacturing and supply of transmit/receive modules used in fighter aircrafts, orders for combat management systems, communication equipment, stabilized optronic pedestal, and navigational systems. Non-defense accounts for 11.4% of the total order book.

3F Oil Palm Pvt Ltd Signs MoU With “Karnataka Horticulture Dept To Empower Farmers Through Sustainable Cultivation Practices”

3F Oil Palm Pvt Ltd has strengthened its presence in Karnataka through a strategic partnership with the Karnataka Department of Horticulture by signing a Memorandum of Understanding (MoU) to advance sustainable agriculture in rural communities. The MoU was signed in the presence of Mr. Prakash M Sabarad, Additional Director of Horticulture, Government of Karnataka, paves the way for transformative support to oil palm cultivators in Udupi, Dakshina Kannada, and the Sedam taluk of Gulbarga district.

This partnership will provide farmers with access to advanced agricultural technologies, training programs, and essential resources to enhance productivity and support Karnataka’s growing horticultural sector. The company plans to introduce state-of-the-art cultivation practices, focusing on sustainable growth and community empowerment.

Speaking on the partnership, Mr. Srinivasarao Kilari, Head Agriculture, 3F Oil Palm Pvt Ltd said, “This MoU represents a major milestone, aligning with our mission to uplift local farming communities while setting new benchmarks for sustainable oil palm cultivation. We extend our gratitude to the Karnataka Horticulture Department for their vital support and look forward to collaborating closely with the farming community.”

As part of the initiative, 3F Oil Palm Pvt Ltd will oversee area expansion, nursery development, sprout procurement, and seedling cultivation within the designated zones. This effort aims to increase palm oil productivity, create economic growth, and empower farmers with sustainable knowledge, offering a model for long-term agricultural success in Karnataka.

Photo Captions: Sahana J - Assistant Horticulture officer, Thejaswini K - Assistant Horticulture Officer, Shashikala R - Senior Assistant Director of Horticulture, Dr. Prakash M Sabrad - Additional Director of Horticulture 3F Oil Palm Pvt Ltd at the MoU signing between 3F Oil Palm and Department of Horticulture, Govt. of Karnataka for advancement of oil palm agriculture in the state.

HDFC Life’s AI Day Unveils the Future of Insurance with Cutting-Edge AI Innovations

HDFC Life, one of India’s leading insurers, successfully hosted its inaugural AI Day, showcasing its commitment to leveraging Artificial Intelligence (AI) to enhance customer experiences, drive growth, and build employee capabilities.

The event showcased cutting-edge solutions from HDFC Life’s in-house Data Labs and key partners, illustrating AI’s transformative role in life insurance.

Delivering Customer Value

HDFC Life’s AI-powered systems focus on: 

* Personalisation: Offering tailored product recommendations to meet individual customer needs

* Efficient Service: Faster query resolution and claims processing through AI-driven automation

* Risk Management: AI models for accurate risk assessments, enabling customers make informed decisions

Sales analytics such as the Pre Approved Sum Assured (PASA) program, Analytical Models at Partner Site, and SalesTap-Nudge Engine enable delivering faster and more customised experiences, providing long-term value for customers.

Empowering Employees for Innovation

HDFC Life is exploring AI tools to improve service quality and foster data-driven decision-making with service analytics such as early claims prediction, mis-sale predictor, 13th month persistency, automated underwriting engine, health risk calculator, early reminder calling, claims and complaints dashboard, and Front Line Sales hiring model.

Innovative Partnerships

Technology partners, including Microsoft, Greylabs.ai, salesassist.ai, and Trupeer.ai showcased AI-powered solutions that enhance customer service and enhance business agility.

Key Event Highlights:

Live demonstrations of AI-powered sales and service innovations by the HDFC Life Data Labs team, showcasing real-world applications of AI in life insurance

Insightful sessions on Generative AI and Enterprise GPT, illustrating how these technologies are driving innovations in customer interactions, product development, and service delivery

Networking opportunities for employees and partners to collaborate on AI-driven initiatives and explore future possibilities for customer-centric innovations

Vineet Arora Chief Business Officer – Distribution, Data & Technology, HDFC Life commented, “Our AI Day demonstrates HDFC Life’s leadership in harnessing AI to provide unparalleled value to our customers and drive sustainable business growth. We are committed to delivering innovative, customer-centric solutions that not only meet today’s needs but also anticipate tomorrow’s challenges.”

HDFC Life’s AI initiatives are also aligned to the Company’s sustainability goals such as reducing paper consumption by automating documentation and workflows. Optimising energy use by streamlining operations, thus leading to a smaller carbon footprint and supporting sustainable business practices by minimising operational inefficiencies and contributing to the broader environmental goals of reducing waste and improving resource efficiency.

About HDFC Life

Founded in 2000, HDFC Life Insurance Company Limited (‘HDFC Life’ or the ‘Company’) is a leading provider of long-term life insurance solutions in India. It offers a broad range of individual and group plans across the Protection, Pension, Savings, Investment, Annuity, and Health categories, with a portfolio of products and optional riders designed to meet the diverse needs of its customers.

HDFC Life is a subsidiary of HDFC Bank Limited, one of India’s leading private banks. The Company has a nationwide presence, operating through its own branches and a network of over 300 distribution partners, including banks, NBFCs, MFIs, SFBs, brokers, and emerging ecosystem partners. HDFC Life also maintains a strong base of financial consultants.

Recognised as a great place to work, HDFC Life is deeply committed to governance and sustainability, ensuring responsible business practices that align with its long-term objectives.

For more information, visit www.hdfclife.com or follow us on Facebook, X (formerly Twitter), YouTube, and LinkedIn.