Month: August 2023

Cosmo First Limited today declared its financial results for the quarter ended June 2023.

 

The results for the quarter would have been better by Rs. 20 Cr but for the non-repetitive inventory loss arising from the sharp drop in prices of raw material towards the quarter end.

 

During the quarter, the BOPP demand has started picking up and demand-supply balance should get restored in the coming quarter(s). In case of BOPET where the supply is far in excess of demand, it will take many more quarters for supply-demand gap to bridge. Margins are therefore likely to remain under pressure with little downside risk.

 

The exports markets showed signs of improvement with better specialty sales. Cosmo with over two third of its revenue coming from BOPP speciality films could withstand the margin pressure better than the industry. We continue to build our specialty films portfolio by adding speciality polyester films including shrink label and sun shield films which would further strengthen our overall margins and also the ability to withstand margin pressures, if any in the future.

 

The Company’s Petcare vertical (Zigly) continues to grow rapidly and clocked monthly revenue (GMV) with a run rate revenue of Rs.3 crores on the back of expanding retail footprints, innovative sales promotion, and increasing online presence. The acquisition of Petsy, an online venture in the Petcare space, is complete and would further accelerate the growth of the Petcare vertical.

 

The Speciality Chemical subsidiary is set to launch newer adhesives in H2, FY24.

 

Commenting on Company’s performance Mr. Pankaj Poddar, Group CEO, Cosmo First Ltd. said “The Company is working on multiple growth drivers including speciality BOPET films, sun shield film, rigid packaging, specialty chemicals, petcare, etc. We are optimistic that these initiatives will provide impetus to faster growth of the Company in the coming years. In the short-term, we remain focused on increasing specialty sales & grow new businesses.”

 

 

Godrej & Boyce, the flagship company of the Godrej Group, announced that its business Godrej Appliances, continues to demonstrate its commitment to sustainability and technological advancement with the launch of India’s most energy-efficient refrigerator ‘Godrej Edge Neo’. It consumes only 99 units per year which is the lowest energy consumption as per the current BEE ratings, in comparison to any other refrigerator in India, thereby aiding significant reduction in electricity bills.

Godrej Edge Neo is a single-door refrigerator that achieves its outstanding energy efficacy by using a highly efficient inverter compressor, advanced capillary technology, coupled with smartly designed airflow. The annual electricity cost of running this energy-saving refrigerator is less than the cost of running an LED bulb, a fan or enjoying a family outing to a multiplex. With potential savings of upto Rs. 1101 every year, customers can save an estimated amount of Rs.11,000 over 10 years. The refrigerator also promises huge savings for the environment as well as it can reduce up to 1000kg CO2 emissions in comparison to using a 1-Star refrigerator, equivalent to preserving approximately 64 trees over a span of 10 years.

 

The brand currently has 20 SKUs with 5-Star energy rating, offering superior energy efficiency. Godrej Edge Neo also comes with unmatched features like Moisture Retention Technology to ensure upto 24 days of farm freshness, Turbo Cooling Technology for faster bottle cooling and quicker ice making, along with a Large Freezer and Aqua space for convenient storage.

 

Speaking about the new offering, Kamal Nandi, Business Head and Executive Vice- President at Godrej Appliances, part of Godrej & Boyce said, “We are proud to unveil India’s most energy-efficient refrigerator that showcases our unwavering dedication to technological advancement while addressing the need for energy-efficiency and sustainability. Through this first-of-its-kind innovative offering, we are ensuring a big win for our customers with significant monetary savings apart from generating a positive impact for our environment.”

Further, commenting on the launch, Anup Bhargava, Product Group Head- Refrigerators, Godrej Appliances, said, “Backed by advanced technologies, the new Edge Neo refrigerator not only delivers exceptional cooling performance but also helps consumers save on their energy bills and reduce their environmental footprint. Operating in the 180L capacity segment, the model is well placed to deliver double digit growth and impact a large base of customers.”

Godrej was one of India’s first brands to launch the widest range of 5-Star Refrigerators back in 2008 and it continues to lead the way on energy efficiency. This refrigerator is currently available at MRP of Rs. 26990/- across leading e-commerce platforms such as Amazon and Flipkart and will soon be available at pan-India stores. 

On the occasion of India's 76th Independence Day, we proudly announce “Pledge 76: Igniting Minds, Honouring Heroes,” a heartfelt initiative dedicated to the children of our brave men that gave their lives to the country. As we celebrate the spirit of freedom, courage, and sacrifice, we want to express our deep gratitude and unwavering support for those who have given their all for our nation.

 

Every day, brave men and women of our defence forces – the air force, army, navy, paramilitary, police and more, selflessly dedicate themselves to protecting our nation. They stand on the line of duty, their sacrifices often unseen, and their courage often unspoken. This Independence Day, we want to pay our tribute, not just with words, but with actions that reflect our deep gratitude.

 

A sincere effort to give back to those who give their all. An initiative designed to nurture the dreams of the young minds who have grown up with the tales of courage, valour, and patriotism. We understand that while our heroes who have lost their lives while serving the nation, at home their children carry incomplete dreams and ambitions that require nurturing and timely support. And that’s why we pledge to nurture the dream of these children by offering a 76% scholarship on our courses for IIT-JEE, NEET, and Foundation from Grades 8-13. 

 

As we are embarking on celebrating the 76th Independence Day, our aim is to create a pathway to excellence by offering a 76% scholarship (on total fees) for the children of our brave defence, paramilitary, police, and allied forces personnel. We wish to ignite their dreams, by playing a role in helping them achieve their ambition of becoming an engineer or doctor with our specialized coaching for IIT-JEE and NEET.

 

This initiative is more than just educational support – it's a statement of admiration, a gesture of respect, a tribute to their parents' indomitable spirit and relentless dedication.

 

So, this Independence Day, we invite these bright, young minds to join us in this journey of learning, discovery, and success. Let us together weave a future that not just honours the service of their parents, but also empowers them to shape the future of our nation. Because we believe, nurturing the dreams of these young heroes is the perfect way to honour the services of our unsung heroes. Infinity Learn has over one million registered users and 5,00,000 paid users since its launch, with a mission of powering learners' progress. We are committed to creating a high-trust, high-performance culture, focusing on providing robust solutions and a comprehensive question bank for our learners.  

 

 

President & CEO, infinity Learn by Sri Chaitanya, Mr. Ujjwal Singh, expressed his heartfelt commitment to the initiative, stating, “Pledge 76 is not just an educational support program; it is a statement of admiration and a gesture of respect for our defence forces and their families. We understand the immeasurable loss they have endured, and through this initiative, we want to show our unwavering support and care for their children's future. With this scholarship, we aim to ignite their dreams and provide them with the best possible opportunities to pursue their aspirations.”

 

Edelweiss Asset Reconstruction Company Limited (“Edelweiss ARC”) is deeply saddened by the demise of Shri Nitin Desai under tragic circumstances. 

In order to clarify some misgivings, we would like to state that Shri Nitin Desai’s company was extended financial assistance in 2016 and 2018 for setting up theme park and working capital. The company encountered financial difficulties since 2020 and various attempts to improve the financial situation of the company did not bear fruit. The company was eventually referred to NCLT in 2022 and admitted in NCLT in July 2023.

 

Edelweiss ARC followed all legal processes as mandated by RBI and has not acted in any manner outside of the legal framework. Neither was the interest rate charged excessive nor was there at any time undue pressure being put on the borrower for recovery. We followed our own detailed procedures through established legal channels at great expense and time to us.

 

We respect the need for the authorities to inquire into such tragic events and will cooperate fully with the enquiry process. We are confident that they will also conclude that we have acted lawfully.

 

Shri Nitin Desai’s death is a big loss to the Indian film industry and the Art world that no words can express. We pray for his soul and offer our heartfelt condolences to his family and the staff of ND Arts.

 

The holistic training program with Sambhav Foundation has provided economic stability to over 25,000 households across 84 villages in Karnataka, Rajasthan, and Madhya Pradesh

 

Key highlights:

 

• Equipped over 3300 farmers in Vijayapura, Karnataka with agricultural knowledge and resources to improve market access to increase income.
• Trained farmers with cutting-edge agricultural learning resources to reduce operating costs.

 

Herbalife India, a global health and wellness company, partnered with Sambhav Foundation, a non-profit organization, to train and empower farmers in India as part of its CSR initiative. Through Herbalife's Seed-to-Mouth initiative, the organization has strengthened the farming capabilities of over 9,300 farmers across India. In line with Herbalife's commitment to the United Nations' Sustainable Development Goals (SDGs), the comprehensive training program has transformed over 25,000 households across 84 villages in Karnataka, Rajasthan, and Madhya Pradesh. 

 

The Seed to Mouth initiative has made a direct impact in Vijayapura, Karnataka, benefiting 10,358 households and transforming the lives of 3,315 farmers. The efforts were recognized and appreciated by the Department of Agriculture Karnataka. In partnership with the Agricultural University of Vijayapura, the program included guest lectures and farm visits, focusing on crop-specific learnings to safeguard standing crops from unseasonal rains. By connecting farmers directly with wholesale dealers, the program has created efficient and effective channels for farmers to sell their produce in large quantities. To address storage challenges, tarpaulin sheets were provided to all the farmers, ensuring protection from rain, pests, and rodents. Through eKYC, farmers were enrolled in the PM Kisan Samman Nidhi Yojana, resulting in a direct transfer of INR 9,000 to their accounts.

 

The project was implemented in Vijayapura (Karnataka), equipping the farming community with cutting-edge agricultural learning resources, reducing operating costs, and enabling market reach to enhance their income generation. Since its launch in July 2022, the Seed-to-Mouth initiative has enhanced sector access for farmers by connecting them with major industry players, enabling them to reach a wider customer base and expand their market reach.

 

Ajay Khanna, Senior Vice President and Managing Director of Herbalife India said, “We believe that community empowerment and upliftment is a powerful tool for creating an equitable society. This initiative aimed at addressing the challenges faced by small-scale farmers. The collaboration aimed at providing farmers with adequate training and resources to improve their farming methods.”

 

The NGO conducted a diagnostic study in consultation with over 50 agri-experts across the states to identify and address existing gaps in agricultural practices by providing farmers with essential resources such as seeds, equipment, fertilizers, and loans. Farmers also gained practical knowledge on essential topics such as advanced farming technology, crop diversification, safe use of chemicals, land management, credit support, and market access through collaboration with Krishi Vigyan Kendras and university incubators. Expert-led awareness sessions on farming and irrigation supported farmers throughout the farming process.

 

The initiative not only aimed at strengthening the agricultural ecosystem in India but also enhanced the farmer's agricultural practices enabling them to increase their economic status. The transformative impact of this initiative has been felt in the lives of farmers in Indian villages, leading to improved livelihoods and overall well-being.” said Mr. Khanna.

 

Ms. Gayathri Vasudevan, CEO of Sambhav Foundation, added, “Sambhav's inclusive approach towards the 'Annadata' (Food Giver) will support in generating the sustainable income by empowering them with cutting edge knowledge of the farming, reducing input cost and facilitating with market access. With a focus on addressing the significant challenges faced by the Indian farming community, the Seed-to-Mouth project was envisioned to strengthen the agricultural ecosystem in India.”

 

The program aligns with larger Government of India initiatives such as the National Food Security Mission (NFSM), the Pradhan Mantri Fasal Bima Yojana (PMFBY), and the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN). By aligning with these government initiatives, the Seed-to-Mouth project ensures that its efforts complement and contribute to the larger goals of the government in improving the agricultural sector and the livelihoods of farmers in the country. 

 

 

On the occasion of India's 76th Independence Day, we proudly announce “Pledge 76: Igniting Minds, Honouring Heroes,” a heartfelt initiative dedicated to the children of our brave men that gave their lives to the country. As we celebrate the spirit of freedom, courage, and sacrifice, we want to express our deep gratitude and unwavering support for those who have given their all for our nation.

 

Every day, brave men and women of our defence forces – the air force, army, navy, paramilitary, police and more, selflessly dedicate themselves to protecting our nation. They stand on the line of duty, their sacrifices often unseen, and their courage often unspoken. This Independence Day, we want to pay our tribute, not just with words, but with actions that reflect our deep gratitude.

 

A sincere effort to give back to those who give their all. An initiative designed to nurture the dreams of the young minds who have grown up with the tales of courage, valour, and patriotism. We understand that while our heroes who have lost their lives while serving the nation, at home their children carry incomplete dreams and ambitions that require nurturing and timely support. And that’s why we pledge to nurture the dream of these children by offering a 76% scholarship on our courses for IIT-JEE, NEET, and Foundation from Grades 8-13. 

 

As we are embarking on celebrating the 76th Independence Day, our aim is to create a pathway to excellence by offering a 76% scholarship (on total fees) for the children of our brave defence, paramilitary, police, and allied forces personnel. We wish to ignite their dreams, by playing a role in helping them achieve their ambition of becoming an engineer or doctor with our specialized coaching for IIT-JEE and NEET.

 

This initiative is more than just educational support – it's a statement of admiration, a gesture of respect, a tribute to their parents' indomitable spirit and relentless dedication.

 

So, this Independence Day, we invite these bright, young minds to join us in this journey of learning, discovery, and success. Let us together weave a future that not just honours the service of their parents, but also empowers them to shape the future of our nation. Because we believe, nurturing the dreams of these young heroes is the perfect way to honour the services of our unsung heroes. Infinity Learn has over one million registered users and 5,00,000 paid users since its launch, with a mission of powering learners' progress. We are committed to creating a high-trust, high-performance culture, focusing on providing robust solutions and a comprehensive question bank for our learners.  

 

 

President & CEO, infinity Learn by Sri Chaitanya, Mr. Ujjwal Singh, expressed his heartfelt commitment to the initiative, stating, “Pledge 76 is not just an educational support program; it is a statement of admiration and a gesture of respect for our defence forces and their families. We understand the immeasurable loss they have endured, and through this initiative, we want to show our unwavering support and care for their children's future. With this scholarship, we aim to ignite their dreams and provide them with the best possible opportunities to pursue their aspirations.”

 

The conference was attended by more than 130 industrialists and discussed on the business expansion with the Government officials of Sharjah, UAE. The session was addressed by His Excellency SAUD AL MAZROUEI. Post the conference the companies had a one-to-one meeting with the officials to discuss more on the establishment of business footprint in the UAE through the SAIF Zone.

Post the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the Government of India and UAE, The conference was scheduled with an agenda to spread awareness of various business opportunities available for Indian Businesses in Sharjah UAE, by either establishing their manufacturing units or by opening their offices and using UAE as a base to enter and capture the other Gulf countries, Africa, Europe, etc.

It has Unmatched Strategic Location and is benefited from excellent sea, land and air transport links. SAIF offers Unparalleled Customer Service. SAIF ZONE offers a wide range of offices to cater to the nature of your business and its varying demands.

With a steadily rising GDP, and a highly-diversified economy, Sharjah, UAE is well placed for long term investment returns and access to global markets and skilled talent. With exceptional support provided by the government, lower costs than neighboring emirates, and a culture of innovation, the city is an ideal choice for multinationals seeking a base in the Middle East.

Strategic location, Connectivity through Land, Air and Sea, Logistics Facilities, Availability of Abundant Low-Cost Energy and Water and Availability of Cost Effective and Skilled Work Force makes us unique and provide our investors distinct edge over competition.

 

Thanks to the unrivalled benefits provided by Sharjah Airport International Free Zone, within a competitive, flexible and attractive environment for investments, SAIF Zone is home to more than 8000 companies from more than 165 countries and we are an ideal destination where Small and Medium Business Enterprises as well as Large Industries co-exist and flourish together.

 

The Director of Sharjah Airport International Free Zone His Excellency Saud Salim Al Mazrouei said, “I am proud to inform you that more than 8,000 companies from around 165 countries have currently established their presence at the Sharjah Airport International Free Zone (SAIF ZONE). By further establishing significant industrial infrastructure and providing incentives for continued investment, SAIF ZONE looks forward to strengthening its position as the preferred regional destination of choice to do business.”

Although exports from the city have increased in the last decade, we feel that the potential that exists in Gurugram is still largely unexplored. The B2B meetings will provide some very good insights to business owners to enhance exports through the SAIF Zone.”