Tag Archives: PR From NewsVoir

E-Commerce, InFocus, News, Web

SKF India Launches E-shop, its First Online Store in India

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SKF India, launched E-shop eshop.skf.co.in – an online store offering products from Automotive and Industrial Business for retail and industrial buyers. The launch is in line with SKF’s commitment of expanding reach to customers across market segments and continuously providing unmatched customer experience, while further boosting country’s ‘Digital India‘ initiative.

This 24/7 self-service online store aims to provide direct access to SKF genuine and reliable products ranging from Bearings and Bearing Units, Housing and Accessories, Greases and other maintenance products, for both Industrial and Automotive segments. All the process industries, MSME’s, traders, retailers, automotive aftermarket retailers, mechanics and fleet owners will benefit from this wide range of products and solutions.

“We want to be the partner of choice for our customers and are committed to creating platforms that support the digital transformation journey for our customers and partners,” says Manish Bhatnagar, MD of SKF India. “The E-shop enables us to adapt to the changing customer buying preferences and supports our strategy of expanding reach in new markets while growing our presence in the existing segments. Hosting a wide range of products and solutions, the platform provides a reliable and seamless online experience to our existing and new customers.”

Highlights of the new online store include:

  • The site features wide range of products across automotive and industrial segments.
  • Product search bar enables users to quickly and accurately identify the product they are interested in by part number, product category etc.
  • Each product detail page provides all the information to easily place orders.
  • Customers can additionally avail attractive schemes and best prices.
  • A personal sales assistant in real time to address customer queries.
  • E-shop has secure payment methods and self-service account management for easy transactions.

Through E-shop, SKF will be more aware of changing customer preferences at any time, further supporting SKF’s commitment to maximizing customer satisfaction.

Healthcare, Sectors, Web

Lasa Supergenerics Q3FY21 PAT at 6.56 Crores up by 154% YoY Finance Cost Reduced by 95.40% YoY

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Lasa Supergenerics Limited, a vertically integrated group spanning the entire animal and human healthcare value chain has announced its financial results for the third quarter ended December 31st 2020 (Q3FY21).

Q3FY21 performance overview compared with Q3FY20

  • The Finance cost reduced by 95.40% Y-o-Y from Rs. 1.6 crore in Q3FY20 to Rs. 0.07 crore in Q3FY21
  • Revenues from operations stood at Rs. 53.98 crore as against Rs. 39.29 crore in Q3FY20
  • EBITDA of Rs. 12.56 crore as compared to Rs. 8.16 crore in Q3FY20
  • EBITDA margins at 23.26% as against 20.78% in Q3FY20
  • PAT stood at Rs. 6.56 crore as against of Rs. 2.58 crore
  • EPS for Q3FY21 stood at Rs. 1.61 as compared to Rs. 0.89 in Q3FY20

Q3FY21 performance overview compared with Q2FY21

  • The Finance cost reduced by 60% Q-o-Q from Rs. 0.19 crore in Q2FY21 to Rs. 0.07 crore in Q3FY21
  • Revenues from operations stood at Rs. 53.98 crore as against Rs. 54.69 crore in Q2FY21
  • EBITDA of Rs. 12.56 crore as compared to Rs. 12.79 crore in Q2FY21
  • EBITDA margins at 23.26%
  • PAT stood at Rs. 6.56 crore as compared to Rs. 7.05 crore in Q2FY21
  • EPS for Q3FY21 stood at Rs. 1.61

Highlights For Third quarter ended December 31st 2020

Revenues from operations for the Third quarter ended December 31st, 2020 (Q3FY21) stood at Rs. 53.98 crore.

The Company reported Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) of Rs. 12.56 crore in Q3FY21, as against Rs. 12.79 crore in Q3FY21;

The Company’s EBITDA margin stood at 23.26%

The Company reported PAT of Rs. 6.56 crore for Q3FY21

The Company’s PAT margin stood at 12.10%

Earnings per share (EPS) for the quarter ended Q3FY21 stood at Rs. 1.61

Commenting on the performance, Dr. Omkar Herlekar, Chairman – Lasa Supergenerics Limited, said, “We continued to deliver robust top line in these competitive market scenarios. I am glad to say that we have achieved almost Zero Finance cost in the company, we are in line with our commitments and we continue to work even harder to grow. We remain confident for achieving our objectives of driving sustainable growth in our revenue and cash flows.”

 

New Launches, Technology For SMEs, Web

Titan Launches ‘Edge Mechanical’ the Slimmest Mechanical Watch by an Indian Watchmaker

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India’s most trusted watchmaker, Titan announces the launch of ‘Edge Mechanical‘, the slimmest mechanical watch by an Indian watchmaker. Titan Edge Mechanical is a coming together of Titan Edge’s legacy of slim watches and complexities of mechanical watchmaking. Since its launch in 2002, Titan Edge has crafted some of the slimmest timepieces the world has ever seen. The brand’s mechanical story comes alive as a result of its rich legacy of crafting timepieces for customers over its 36 year journey culminating into this horological marvel. This collection is a true testament of Titan standing tall with the best in the world.

Edge Calibre 903, an exquisitely crafted movement, is an ensemble of 106 delicately machined metal parts carefully assembled to create a magical play of time. At a slimness of 2.2 mm, the movement is ultra-slim and uses 18 jewels to reduce the friction between moving parts and has a power reserve of 42 hours. The movement is celebrated in the watch with a clear sapphire back showcasing the intricate bridge side, with a stylized window on the dial side bringing alive mechanical intricacies of watch making.

Epitomizing the modernized classic appeal, the watch comes in two seamless designs.

Titan Edge Mechanical 1810

The Titan Edge Mechanical 1810 is a larger than life expression of an architectural assemblage of surgical grade stainless steel and sapphire crystal. The chiseled metal expression in styling this watch, is enhanced with the creation of ‘machined‘ grooves that seamlessly flow into the integrated straps. The steel blue hands complement the monochromatic tone of the watch.

Titan Edge Mechanical 1811

The Titan Edge Mechanical 1811 is crafted in classic steel & rose gold. The dial with its finely carved out valley on the rim, creates a mystical illusion of fine serrations. This reflection sits around an elevated dial, bringing alive a contemporary twist to a classic design. This watch is 5.85 mm thin, built with a contoured stainless steel bezel and a custom designed crown adding further charm to its unique hand-wound personality.

The Titan Edge Mechanical is a limited edition collection with only 200 watches and is priced at INR 1,95,000.

Speaking on the launch, Ms. Suparna Mitra, Chief Executive Officer, Watches and Wearables Division, at Titan Company Limited said, “It gives us immense pleasure to introduce Edge Mechanical, the slimmest mechanical watch by Titan. Perfecting the art of slimness with precision, is a breakthrough in horology, creating a powerful sense of pride in a watch line of global excellence with an Indian origin. This collection is a perfect testimony to the innovation and craftsmanship that Titan has stood for over the years. Three rigorous years went into the making of this limited edition collection that truly is an epitome of mastery. This launch projects a great demonstration of Indian manufacturing prowess and marks the entry for Titan in the rarified world of luxury watches.”

This collection celebrates the love that millions of customers have bestowed upon the Titan brand over the years. Conceived to serve as an anchor in the fast paced world of transient technology, Titan Edge Mechanical is exclusively available at select World of Titan and Helios Watch stores. Customers can also book an online appointment at www.titan.co.in and discover this exclusive collection.

About Titan Company Limited

Titan Company Limited (earlier known as Titan Industries Limited) is a joint venture between the Tamil Nadu Industrial Development Corporation (TIDCO) and Tata Group, commenced operations in 1987, under the name Titan Watches Limited. In 1994, Titan diversified into Jewelry and subsequently into eyewear with Titan Eyeplus. In 2013, Titan entered the fragrances segment with SKINN and 2019 in sarees with Taneira. Today, Titan Company Limited, India’s leading manufacturer/sellers in watches, jewelry and eyewear, is credited with changing the face of all these industries. The Company recorded a revenue of INR 21,052 cr for the year ended 31st March 2020.

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Healthcare, Sectors, Web

Increase in Health Sector Budget and ‘PM Atmanirbhar Swasth Bharat Yojana’ will Develop Public Healthcare Systems: MTaI

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Medical Technology Association of India (MTaI), which represents leading research-based medical technology companies with large footprint in manufacturing and healthcare worker training in India, has welcomed the increase in health budget to Rs. 2,23,846 crore in Union Budget 2021-22.

MTaI Director Mr. Sanjay Bhutani said, “The Budget 2021 was presented amidst the unprecedented times of COVID-19 pandemic recovery. In the previous fiscal, entire fiscal management was shaken with the COVID-19 related lockdowns, job losses, financial stimulus and negative GDP growth. In this backdrop the government was faced with doing the balancing job between stimulating economy back to high growth trajectory, job creation and at the same time keeping check on inflation and fiscal deficit (9.5% in 2020-21). From the budget proposal, it seems that the government has done well in keeping with the investment focus and job creation through capital buildup. We also welcome the move towards raising healthcare spends by almost 137%, although a good part of this will go towards managing COVID vaccination etc. We are also happy to note that the government has announced the launch of ‘PM Atmanirbhar Swasth Bharat Yojana with a total outlay of Rs. 64,180 crore over a period of next 6 years. This will help us with the much needed development of public healthcare systems.”

“The government has done well at showing restrain and not looked at introducing short term tax measures linked to tax mop up like cesses etc. though it was expected that it will take measures at rationalizing some high tax brackets to improve disposable income and boost spending. In terms of finding funds for the investment ramp up which is vital for revival of economy, the government is relying on funds from divestment, high GDP growth estimated with economic buoyancy post with COVID-19 slowdown and better degree of tax compliance and has also taken a longer-term target to reign in fiscal deficit with 2021-22 estimated at 6.8%. If these do not go as expected, the affect could be inflationary. A lot will depend therefore on the efficacy of execution, actual GDP growth, disputes settlement and government meeting its privatization targets. Overall, we feel it is a balanced budget that should provide long term tax rate stability, reduce cost of compliance and litigation and goes to building the infrastructure to support high growth,” added Mr. Bhutani.

MTaI Chairman & Director General Mr. Pavan Choudary said, “The government (DOP, MoHFW, DPIIT and MOF) gave us an equitable hearing and we are thankful for that. Though we still need to go through the fine print, the budget has put on hold any further increase on customs duty on most medical devices & equipment. The rolling back of the health cess is our other demand which will help us preserve jobs, jobs which are instrumental in making the healthcare workers become patient-ready at the time of a healthcare crisis like this. In similar expression of patient interest, we have also sought that the GST slab for medical devices be brought down from 12% to the rate of preferential products i.e. 5%. Though these demands have not been accepted yet, we are pleased to note that the budget is reflective of the realization that healthcare is a vital sector and the government is going in a thorough fact finding mode to make evidence based fiscal policy. We are quite sure that this mode will automatically throw up the real performances of various industry groups against their promises. Our performance as a cohort, despite the unintended consequences we faced is evident in this resurging tally of FDI especially since 1st January 2020.”

FDI Chart

Mr. Choudary added, “Post pandemics the real estate and healthcare sectors come creatively together and therefore the stress on the former is also salubrious for the emerging epicenters of healthcare like homes, micro-hospitals and step up and step down facilities which will start dotting the healthcare landscape.

Both MTaI and our member companies like Medtronic and Stryker, just to name a few, have responded to the clarion call of our PM and have substantially enabled the MedTech startup ecosystem in India through open sourcing vital designs or providing legacy technical know-how, and we are really gratified to see meaningful support coming for startup finance in the budget. Overall it is a visionary budget.”

“To bring the healthcare system fully back on track we need to first of all protect our healthcare workers because it is through them the elective surgeries will come back on course. Part of this frontline team are the MedTech executives who visit Operation theaters and Emergency rooms and other facilities in hospitals daily as part of the procedure and demonstration teams. Due to the nature of their job, these frontline Medical Device workers may even be more susceptible to contracting the coronavirus than some of the other beneficiary groups chosen for vaccination, as they end up working in environments where the treatment of COVID patients is actually happening. When the security guard at the hospital is provided vaccination – which by the way is a commendable and inclusive step – these workers should also be included in the initial vaccination drives. The funding of this drive can come from the healthy INR 35,000 crores allocated, or even from the companies which employ them,” concluded Mr. Choudary.

About Medical Technology Association of India (MTaI)

Medical Technology Association of India (MTaI) is an association of research-based medical technology companies who have made significant investments in Manufacturing, R&D and Healthcare Workers Training in India. All the time stressing on the three hallmarks of healthcare – Quality, Consistency and Patient Safety, MTaI is a responsible voice of the industry. The association is committed to improving access to affordable and quality healthcare for patients.

For more information, please visit website: mtaiindia.org.

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Global, Global Gateways, News, Web

Pangea: Elpro International School Living the Global Village Experience

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In pursuit of the global experience, Elpro International School, Pune (EIS) is leading the way in weaving commendable opportunities for their students. EIS, in association with its partner school in London, Wapping High School and SkillSphere Education designed a unique platform that defines the 21st century global education.

Baroness Patricia Scotland, the Secretary General of the Commonwealth at the Valedictory Ceremony

The two-day exclusive online conference ‘Pangea – The Global Village‘ came to fruition on the 29th and 30th of January, 2021. With 7 different schools participating from across Asia, Europe and South America, Pangea was a celebration of diversity and unity. Inspired by the concept of a single unified supercontinent, Pangea was conceived with the underlying theme of ‘Compassion and Collaboration‘.

Ms. Claire Ward – Former MP of UK and Mr. Mike Rann South Australia’s 44th Premier and Former Minister for Economic Development in the inaugural and closing of Pangea

The Curtain Raiser for Pangea was graced by the presence of Lord David Evans, who is a Member of the Parliament at the House of Lords, UK, as well as a British publisher, entrepreneur and an advisor to EIS. He appreciated the concept of Pangea; and called it “An excellent name for a global village“. He also added, “An international outlook is vital and it is our duty as educators to enable our children and students to have broader view of the world.”

Pangea presented the students an immersive experience through a wide range of interesting events like El Autor (Collaborative Story Writing), Global Jigyasa (World Quiz), Synthesis (Group Discussion), El Canto (Collaborative Singing) and Kalakaari (Art Exhibit). Curated with the aim to allow students to engage in ideation, exchanging cultures, diverse experiences, team work and global awareness, Pangea was an amalgamation of world cultures. The events added to students’ learning experience with international dimensions of contemporary education.

On the occasion of the Valedictory Ceremony, Baroness Patricia Scotland, the Secretary General of the Commonwealth, shared a beautiful message praising the commitment of EIS to encouraging global citizenship. She said, “We look to the future with great hope, and with big plans for making our world a better place in which we all live together in health, peace and prosperity. That seems to me also to be the purpose and idea which motivates Pangea. It is encouraging to know that you are alongside us in this through your involvement with Pangea Global Village.”

Dr. Amrita Vohra, the Director-Principal of EIS, expressed her sense of fulfillment over the way Pangea unfolded as she beautifully put, “There could be physical distance between continents; but our thoughts thread the globe together.” “Such initiatives“, she added, “Like Pangea, will help students to be better equipped and better prepared for the unknown tomorrow-the future. The event has left us enriched and kindled some very good life-skills and values in us.”

Head of Communications and International Collaborations and the Convener of Pangea at EIS, Sugandha Khandelwal said, “Pangea was primarily motivated keeping the students’ best interests forward. It was heartwarming to see students of different nationalities come forward and participate, sharing thoughts and their learning with each other. The highlight has to be getting commended by the Secretary General of Commonwealth, Baroness Patricia Scotland. It has given us huge motivation and made our belief for a unified world stronger.”

Anansh Prasad, Founder and MD of SkillSphere said, “Pangea – The Global Village is an incredibly powerful idea. I am delighted to see the way it has come to fruition. Witnessing participation from schools belonging to 8 different countries, and numerous luminaries from different walks of life including Mike Rann, Claire Ward and Lord Evans of Watford, Pangea 2021 was a magnum opus. SkillSphere Education looks forward to building an even bigger global village on the foundations of compassion and collaboration.“

With Pangea, EIS has taken a leap towards global education with international collaboration, thus making virtual learning relevant for the students of the modern times. Every participating member had certain key takeaways from the virtual conference, which they will be able to implement in their schools, homes and in their personal lives. It was an enlightening and a fruitful learning experience that explored the possibilities of a borderless world.

 

Corporate, InFocus, Web

India Inc Hails Government’s Budget as Growth Oriented

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Finance Minister, Nirmala Sitharaman made a great effort to pull all strings together in this budget and ensure economic setback to put lives and livelihoods back to track. There has been a greater spending on health care and fiscal push to brace up the struggling demand in the pandemic-hit economy.

Here is SMEStreet Coverage on Union Budget 2021

Nirmala Sitharaman – Minister of Finance of India

Industry players had to comment on budget 2021:

Hemant Sood, Managing Director, Findoc Financial Services Group

The budget as promised by the Finance Minister is unprecedented, rather a bold budget. Fiscal deficit due to pandemic has given government a big jolt, still FM announced a lot of spending in order to drive the economy positively. This budget has given growth direction to all the industries and incentivized different sectors.

Major beneficiaries are companies which assist capital expenditure like L&T, ACE, BHEL, BEL etc. There would be a lot of growth in banking sector which is the back bone of all spending. We have seen good growth in ICICI bank and HDFC bank. Announcement on bad bank would also help in consolidation of NPAs of PSU banks, they would become a good buy once bad bank is implemented, major beneficiaries would be SBI and IDBI bank.

Ankush Ahuja, hBits, Director-Business Development & Investment

Budget 2021 is well conceived and well structured and can be a game changer to bring in the necessary fiscal boost to the country. Major thrust has been given to infrastructure if all allocations are to be added. This was needed to kick start the economy and give necessary impetus to businesses across the country. Infrastructure is the backbone of our economy, and the announcement will boost employment which has been badly hit by COVID. It will inertly improve commercial development, real estate sentiments and boost affordable housing which has also been a major focus for this budget. Infrastructure development can balance the demand supply gap our economy has been facing since COVID-19.

Sakshee Katiyal, CEO, Home & Soul

Announcement of affordable housing projects to avail tax holiday for another year till March 31, 2022 is an encouraging step for the real estate industry. Affordable housing has been a key contributor towards boosting the sector even during the Covid times. Developers and real estate consultancies can further push government’s agenda of making housing accessible and affordable to everyone with this announcement. Not only will it help the lower scale contractors to be “Atmanirbhar“, it will also boost market sentiments of real estate fraternity, especially in the Tier 2 & 3 cities.

Waseem Pangarkar, Senior Partner MZM Legal

Overall, the Budget is growth driven and resisted the urge to fund expenses by increasing taxes, which is a big sigh of relief for the common man and markets alike and is likely to prove the greatest impetus. At the same time the Budget acknowledges and addresses the expected growth in fiscal deficit which demonstrates administrative prudence. While walking the tight rope between stimulating growth and revival and maintaining fiscal discipline, the budget also manages a dash of color in the form of proposals for consolidation of fundamental laws regulating the securities markets, establishing the Bad Bank and big bang Healthcare reforms. However, no satisfactory plan has been designed to deal with the discontinuation of loan to Food Corporation of India. Also, certain states have been given preferential treatments for reason beyond economics.

Balachander Sekhar, CEO, RenewBuy

The increase of FDI limit from 49% to 74% is a much-needed step to boost insurance infrastructure in the country. The funds infused will help in bridging the demand supply gap in insurance, especially in the Tier 2 & 3 cities. It will not only help core insurance companies but also insurance aggregators, brokers, and InsurTech companies. The funds infusion will also help in digitization and technology integration in the sector, which is the need of the hour for empowering insurance.

Manjula Chawla, Co-founding Partner, Phoenix Legal

It’s a well thought out budget. Amongst others a plethora of measures have been proposed to boost ease of doing business – revisions under the Companies Act, consolidation of several securities-related laws into a single code, etc. Further reducing time for reopening assessment will go a long way in reducing tax litigation.

 

Healthcare, Sectors, Web

Parenting Website ‘DrDad.in’ Helped me throughout Infancy, Shares a New Mother

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Parenting website DrDad.in has become as a major source of trusted information on pregnancy and parenting advice. Managed by a team of well-qualified Pediatric physicians DrDad.in offers many relevant and contemporary articles and research-based case studies on pregnancy to parenting. The website is also offering all the basic care products which will make it a one-stop solution for all needs in Pediatrics age-group. Dr. Dad covers the whole spectrum of parenthood – from planning your pregnancy through to parenting older kids.

Dr. Gaurav Nigam, Founder of Dr. Dad

Today, particularly at the time of the pandemic, people are taking virtual routes to find solutions to their myriad problems. However, there is hardly any dedicated platform which offers support and consultation on pregnancy and parenting. Dr. Dad allows its users to receive care via online consultation from any mobile device, tablet, smartphone or home computer. Some of the best pediatricians in the world are associated with Dr. Dad, and the motive is to provide greater access to people who are in need of child-health related services.

“This website helped me throughout the infancy,” says a new mother based out of Delhi.

A team of well-qualified Pediatric physicians, dedicated solely to telehealth services, can now assess a child’s condition, provide treatment options, and prescribe medication if necessary, via a WhatsApp/Online consultation. Dr. Dad has onboarded some of the best pediatricians in the world, and actively building a community of Pediatrics, Child Psychologists, Child nutritionists, Counsellors, etc. Drdad.in aims towards making parenting easier by curating the best articles for children and pregnant mothers and enlisting them on their website and updating it regularly. There’s also a provision to buy from the website.

The collection of articles is being updated on a daily basis and are written by professionals including pediatricians, doctors, counsellors etc.

According to Dr. Gaurav Nigam, Founder of Dr. Dad, “We want to make the site a one stop solution for topics related to pregnancy and parenting advice. Dr. Dad is a brand by the pediatricians, a panel that people can trust for information on pregnancy, parenting, and child-health related topics. Dr. Dad prides itself on being accessible and convenient for parents, and would-be parents as well.”

Dr. Dad’s Founder Dr. Gaurav Nigam is a well-known educationist, pediatrician, Founder of iCare, and Founder of Intelligentsia. He has also authored a book titled ‘Devil Inside My Mind’. Dr. Nigam gathered simplicity from Gandhian institute in Sewagram and knowledge from prestigious bodies like AIMS, MGIMS, Wardha; Jayadeva, NIMHANS, Kidwai and Harvard Medical School. He is also the Founder of iCare – an organization working in the area of new-age Child Health care; and Intelligentsia, a research-based playschool.