Month: June 2024

In a significant step towards environmental sustainability, Elan Foundation, the philanthropic arm of Elan Group, has pledged to cultivate more than 25,000 plants and trees in Gurugram on the occasion of World Environment Day. This initiative aims to contribute to the reforestation of the city and promote ecological balance.

A diverse selection of plants and trees is being planted at various locationsacross Gurugram. The entire plantation drive is set to be completedwithin the month of June 2024, demonstrating Elan Foundation's commitment to efficient environmental action. This initiative aligns perfectly with the theme of World Environment Day 2024: ‘Land Restoration, Desertification, and Drought Resilience,’ underscoring the importance of combating land degradation and promoting sustainable land management practices.

Commenting on the initiative, Mr.Akash Kapoor, Director, Elan Group said, “With our ambitious pledge to cultivate more than 25,000 plants and trees on World Environment Day, we are embodying the ethos of responsibility and action. Each sapling planted represents a promiseto nurture, protect, and sustain our precious environment. Our effort to strengthen green cover underscores our unwavering dedication to mitigate environmental impact.”

Elan Foundation has a history of undertaking similar environmental initiatives, reinforcing its dedication to ecological conservation and community well-being. The post-plantation care of the plants and trees will be meticulously managed by the Elan Foundation to ensure their healthy growth and sustainability.

Muthoottu Mini Financiers, one of India’s leading NBFCs, has announced its financial results for FY24 which ended on March 31, 2024, showcasing robust performance across all key metrics, including revenue growth, profit margins and strengthened Assets under Management (AUM). The company's revenue increased from INR 544 crore in FY23 to INR 672 crore in FY24, reflecting a strong growth of 23.4%.

 

Muthoottu Mini Financiers achieved a 35.20% growth in Profit before Tax (PBT) from INR 81.77 crore in FY23 to INR 110.56 crore in FY24. The company has maintained its track record of strong asset quality by gradually reducingits Net NPA from 1.34% in FY20 to 0.72% in FY24. The company also maintains a strong rating of A-Stable,and has achieved a 3 level upgrade in the last four fiscals.

 

Commenting on the company’s financial performance,Mr. Mathew Muthoottu, Managing Director, Muthoottu Mini Financiers, said,“We are pleased to report another year of robust growth, with a strong double digit growth across all key parameters. This achievement underscores our unwavering commitment to a customer-centric approach and our mission to be a one-stop financial service provider for customers.In FY25, we will focus on tapping into new markets and reaching last-mile regions to bring more people into the organized financial landscape and address their credit needs. Alongside our established gold loan services, we aim to introduce new products to meet the diverse credit requirements of our consumers.”

 

P E Mathai, Chief Executive Officer, Muthoottu Mini, added, “We are humbled by the consistent growth achieved by us over the past year, leading a strong pathway towards our aim of reaching a milestone of INR 7500 crore AUM by 2027. Bolstering our digital initiative to widen our geographical reach, our ‘MyMuthoottu App’ witnessed a significant number of downloads in the last year and we anticipate to see further acceleration in thedigital adoption in this fiscal. Furthermore, to strengthen our operations in the newer markets, we aim to on-board 3500 new employees in the next three years.”

 

Over the course of the past year, Muthoottu Mini Financiers has expanded its reach by opening 61 new branches and by adding2Lakhs new customers. As a result, the company's network now spans an extensive footprint with a total of 902 branches, enabling greater accessibility to its financial services for customers across various regions

Zigly, India’s premier tech-enabled omni-channel pet care brand from Cosmo First Limited, introduces Zigly+, the nation's first comprehensive pet care subscription. This initiative offers pet parents freedom, convenience, and exclusive pricing across all Zigly services and products.

 

Through this initiative, Zigly aims to revolutionise the pet care experience by offering the following in the Zigly+ service plans:

• Convenience & Savings: Offer complete piece of mind with unbelievable savings
• Top-Quality Services: Access to best-in-class veterinary care, spa & grooming, and exclusive non-food pet product discounts
• Complete Vet Care: Services range from vaccinations and diagnostics to critical care surgeries
• Pet Spa & Grooming: Offers from basic grooming to Asian fusion styles
• Wide Range of Pet Products: Includes exclusive discounts on non-food items

 

Further, Zigly has introduced three flexible subscription plans for customers:

• 3-month Essential Plan
• 6-month Power Up Plan
• 12-month Premium Plan

 

Mr. Sushen Roy, Business Head, Zigly, stated, “Zigly+ aims to revolutionize pet care by offering unmatched convenience and top-quality services. Our program prioritizes the needs of pet parents and their pets.”

 

With Zigly+, customers get ease of service options ranging from priority booking for all services, or guaranteeing their beloved pets receive timely care, instilling a sense of pet luxury. Zigly+is available across all Zigly retail outlets nationwide. By leveraging its extensive network of state-of-the-art pet care facilities and experienced professionals, Zigly aims to provide pet parents with a seamless and hassle-free experience.