Category: Business

Mumbai (Maharashtra), February 15: Mr. Soumyadri Shekhar Bose, Ex MD/Director at Siemens, Dassault Systems & Hewlett Packard, has been appointed as Managing Director of BSE listed Cressanda Solutions Ltd. Mr. Bose is a Technologist and business executive on a mission to meaningfully better the lives of the Next Billion.

Passionate about building innovative yet frugal solutions in Healthcare, Education, Environment & Renewables, Food & Agriculture, and Livelihood, thereby meaningfully uplifting the lives of the next billion people globally, primarily emerging from India and Africa with 30 years of corporate experience, extending over four continents, Mr. Bose epitomises the ideals of true global thinking and local execution. With his focus on Sustainable Development Goals, and has been leading projects in education, healthcare, food security and disrupting technologies in South & South-East Asia, Europe and Africa. As a board member, he advises organisations on their growth and operating strategies, globalisation, market-entry, portfolio rationalisation, and the application of critical technology. BSE listed Cressanda Solutions, Ltd engaged in providing software services, digital media services, and information technology (IT) enabled services has appointed Mr. Bose as its Managing Director.

Its software services include onsite-offshore development of various business applications, IT consulting, offshore application development, maintenance, testing, and migration services.

With the expertise and guidance of Mr. Bose, Cressanda is all poised to take off on a supersonic speed and introduce several new hi-technology products and services. With the recent Union Budget laying thrust on Technology and Digital arena, Cressanda is highly optimistic for its future vision.

At its board meeting held on 9th February 2022, the company further considered and approved to raise up to Rs. 66,50,00,000 through preferential allotment / private placement by the issue of up to 11,06,68,000 Convertible Equity warrants with each warrant convertible into one equity share of Rs. 1/each to non-promoters, subject to members’ approval and also Increase the Authorised Share Capital of the Company from Rs. 44,00,00,000 to Rs. 70,00,00,000divided into 70,00,00,000 Equity Shares of Rs. 1/- each & Consequent Amendment to the Capital Clause in the Memorandum of Association of the Company, subject to members’ approval.

Caution: Forward-Looking Statements

As per IQVIA, JB was the fastest-growing company among the top 30 companies for CY 2021

Mumbai (Maharashtra), February 15: J. B. Chemicals & Pharmaceuticals Limited (JB), one of the fastest-growing pharmaceutical companies in India, announced its financial results for the third quarter ended 31^st December 2021.

For the third quarter ended 31^st December 2021, the company recorded revenue of INR 601 crores compared to INR 548 crores, registering a growth of 10% over the corresponding quarter of the previous financial year. Comparing Q3 FY22 versus Q3 FY21 shows underlying revenue growth for Q3 FY22 was 23% (After excluding revenue deferred to Q3 FY21 from Q2 FY21), and operating EBITDA* (Earnings Before Interest Depreciation and Taxes) were conservative at INR 153 crores as compared to INR 171 crores. Profit after Tax stood at INR 84 crores compared to INR 154 crores attributed to one-off income due to trademark sale in Q3 FY21 (~ INR 34 crores), higher treasury income in Q3 FY21, revenue deferment to Q3 FY21 and non-Cash ESOP charge in Q3 FY22.

Commenting on financial results, Mr. Nikhil Chopra, CEO and Wholetime Director, said, “Our performance in the third quarter reflects a strong business momentum in a macroeconomic environment that has continued to be challenging. Revenue growth in India saw positive traction from our renewed Go-To-Market model and product introductions resulting in JB maintaining its position as the fastest-growing company among the Top-30 in the industry^. Further, major parts of our international business, including CMO, witnessed a gradual revival of demand. Our margins reflect the significant increase in raw materials costs and persistent supply chain-related challenges. Going forward, we will maintain focus on driving topline growth, cost optimization and organizational efficiencies.”  He further added, “We see multiple levers for outperformance – leveraging our existing Go-To-Market model strength, maximizing new introductions & lifecycle management opportunities and strengthening our international markets through portfolio augmentation. The acquisition of the brand portfolio from Sanzyme will further strengthen our domestic business and improve our market position. All these initiatives should translate into enhanced long-term value for all our stakeholders.”

^ As per IQVIA MAT Dec 21 data

Financial Performance – 9M FY22 vs 9M FY21

For the nine months of the financial year 2021-22, the company recorded revenue of INR 1800 crores compared to INR 1514 crores, registering a growth of 19%. Operating EBITDA* (Earnings Before Interest Depreciation and Taxes) increased by 5% to INR 457 crores compared to INR 437 crores. Adjusted EBITDA** increased by 8% to INR 471 crores. Profit after Tax stood at INR 301 crores compared to INR 348 crores, registering a decline of 13 %.

*Operating EBITDA is after excluding non-cash ESOP Charge

**Adjusted EBITDA after excluding non-cash ESOP Charge and one-time non-recurring expense

Revenue momentum remained strong despite the challenging operating environment in the third quarter. Excluding the revenue, which got deferred to Q3 FY21 from Q2 FY21 in the previous financial year, the sales growth for Q3 FY22 was 23%. The Gross Margin profile remains steady at 66% in Q3 FY22. Significant inflation witnessed in API prices, managed through cost optimization initiatives and price increases. Operating costs are now at normalized levels, excluding ESOP charge, employee benefits expense increased by 11%. Other expenditures witnessed a sharp increase in Q3 FY22, led by a significant escalation in logistics/freight costs and a substantial increase in Power & Fuel costs.

Domestic Formulations business continues its good performance growing at 20% in Q3 FY22 vs Q3 FY21. As per IQVIA, JB was the fastest-growing company among the top 30 companies for CY 2021, and as per MAT Dec 2021, JB grew at 27% vs market growth of 18%. Re-aligned Go-To-Market model continues to deliver positive results w.r.t. productivity improvement and new introductions. New Products contributed 4.2% to Domestic sales in Q3 FY22 and 4% for 9M FY22. During Q3 FY22, the Domestic Formulations business launched 12 new products, including Molnupiravir, Cilacar TM, Azovas-T and Pirfenidone. Cost pressure persists on raw material and packing material; this is expected to continue in the medium-term.

International business revenue grew at 3% in Q3 FY22 vs Q3 FY21, showing sequential improvement in international business, and underlying growth for Q3 FY22 is higher than the reported number due to deferment of revenues from Q2 FY21 to Q3 FY21. International business further witnessed steady revival except for the US business. South Africa continues to record growth in both public and private markets. Russia/CIS region delivered strong growth for Q3 FY 22. CMO business performed well due to demand revival in key markets. Supply chain disruptions and higher freight costs remain a challenge, as freight costs increased significantly for all key markets.

February 15: Physiotattva, the leading physio care organization in Bangalore, is now beginning its services in Hyderabad. A joint venture between Brahmbhatt, and Cadabams Group, Physiotattva has quickly made a name for itself with the quality of physio care it provides and the ease of access for consumers. 

“We take a multidimensional approach to healing. With highly skilled professionals and the best equipment, the results have been excellent. In fact, we have helped over 5000 people recover from various issues over the past few years. We are now bringing this experience to Hyderabad. We are opening over 3 clinics in Hyderabad,” explained Dr. Anup Brahmbhatt, Director, Physiotattva. 

Physiotattva was born with an aim to address the various physiotherapeutic needs of people and provide them with easy access to quality physiotherapy. With options for virtual meets with the professional, and an easy-to-use user interface, Physiotattva has been redefining physiotherapy today. With over 12 clinics in Bangalore, the organization offers options for home physiotherapy and virtual rehabilitation as well.

The brand offers diverse range of FDA (US) approved services under physiotherapy and caters to a large number of individuals across locations in Bangalore. The services offered by the organization include post-surgery rehabilitation, musculoskeletal physiotherapy, Neuro-physiotherapy and rehabilitation. 

Mr. Sandesh Cadabam, Director, Physiotattva described the brand’s expansion plan saying, “A lot of people suffer pain that disrupts their normal functioning, and we felt that this needed to be addressed. We have done that in Bangalore, and are beginning in Hyderabad. We are also looking to expand our services to Mumbai and Chennai, with multiple centers in the works.” 

With over three decades of experience, Cadabams Group has been the leading name in rehabilitation in India. With this venture, the brand is creating a revolution in the field of physiotherapy as well. 

For more details, you can visit

http://www.physiotattva.com/

February 15: Himanshi Singla and Akanksha Roy came up with the idea for Paperphile. Himanshi, a Delhi University graduate and later an MBA (marketing) graduate, has always wanted to build her own firm and run it using the business ideas she learned from her idols, family, and as a student. Akanksha has been the creative pillar of Paperphile, while Himanshi has been the functional pillar. Akanksha, an IP University graduate, has always thought that art is magic and that magic is what the world needs, to the point where she prefers her job to being a Paperphile.

She decided to focus on creating a brand that would appeal to people’s specific requirements. Paperphile has been a favourite among customers, particularly millennials, thanks to her creativity and people abilities, as well as Himanshi’s business-driven and analytical approach.

The duo is the creators of Paperphile, a company that specializes in crafting one-of-a-kind frames, bookmarks, badges, diaries, and candles.

Paperphile began as a stationery company but has since evolved into a lifestyle brand that sells both stationery and home design items. Their clients and their lifestyles inspire them at Paperphile, as they like it to say ‘Paperphile is all about you’.

Suppose you enjoy drawing, reading, or simply keeping diaries, pencils, and other cute items. This online gift shop has a fantastic selection of cutesy notebooks, journals, pocket diaries, postcards, scented candles, and much more, so we’re sure you’ll find it appealing. Paperphile’s exclusive assortment includes desk knickknacks and artistic stationery. This online company sells personalised stationery that is lovingly developed and printed.

If we have to name a few of the must-buys from them, it would be Soy Candle, Blank Journals, The Friends Hamper, Relax Cushion Covers, Petite Candles.

Paperphile’s founders, Himanshi Singla and Akansha Roy, are among those youthful minds who believe in creating rather than procrastinating. The mantra of Himanshi and Akansha’s journey has been “necessity is the mother of ingenuity.” Even India’s largest stationery fair failed to serve them and provide them with the appropriate stationery supplies, so they decided to create their own business.

Website: www.paperphile.in

Instagram: https://instagram.com/paperphile.in

Facebook: https://www.facebook.com/Paperphile/

Mumbai (Maharashtra) [India], February 15: A former banker with two decades of banking experience in the domain of Global Markets and Commercial Banking, Sonali Puri has launched Global’s first Corporate Banking Marketplace WiredUp. The application is brought forward to cater to corporate finance and Fx Risk management needs of companies globally and provide an avenue to facilitate global trade seamlessly and efficiently.

WiredUp is an all-in-one solution that bridges the gap between corporations and banking/financial partners. The company operates in 3 main verticals, including Global Financial Products, Sell Local-Global, and FX Live. In fact, they are the first global corporate financial services marketplace with services like Learn & Earn and Hire & Seek.

Onboarding their app, Corporates can easily find the right banking partner/s for their corporate banking requirements. On the other hand, for Financial Partners, WiredUp helps in the conversion of the business development process from push to pull model. It allows the financial partners to get quick access to potential buyers looking for specific financial products. They can use the app chat feature to connect with and respond to the queries of their clients as well as close deals on the app.

The Learn & Earn is an advanced feature that allows users to book corporate training in specialized areas of banking with the WiredUp team. Using this feature, companies will be able to learn about banking/ regulatory topics to upscale their financial know-how. The experts hold sessions and workshops on a free/ paid model to offer financial guidance and mentorship. On the other hand, Hire & Seek enables job seekers to reach out to relevant and reliable employers. Companies can also use this feature to post job vacancies to get hold of the right job candidates. The companies and job seekers can interact directly and compare parameters for quick and informed decision-making.

WiredUp also offers a complete risk management tool called FX Live with live currency rates and exposure management tools. The company is also set to introduce its new feature Sell Local-Global which will allow companies to showcase their products at a global scale and reach out to buyers in different geographies and, in parallel, use the financial products vertical to consummate the transaction with the usage of the Right Financial Tools.

Shedding light on the advantages of this unique platform, Sonali Puri, the Founder of WiredUp, shares, “While there are multiple financial partners offering multiple products/ services, choosing the best fit can be perplexing for the business owners. WiredUp makes global banking and financial services easy to understand so that the corporates can make seamless decisions. We envision that WiredUp will play an important role in creating value for companies enabling them to get the “Right Product with the Right Partner at the Right Value at the Right Time.”

Sonali started her career in HDFC Bank and, after spending a couple of years, went on to develop and manage the large corporates Forex desk in ICICI, handling almost every large listed entity in the domain of Fx Trading. She received her 1st award of being the 1st and the fastest to reach the $ 100 Billion Volume by none other than Mr. K V Kamath himself. Her last stint was with Citi, where she spent 12 years in all with a brief stint at Deutsche Bank in between. After gathering the best of experience and understanding the gaps in the system and the challenges faced by companies and Banks/ Financial partners, she moved on to begin her own journey and created WiredUp.

Vishal Totla, Co-founder & COO of Shipyaari

Upon successful KYC, the seller will get Rs 100, which can be used for Shipping

Mumbai (Maharashtra) [India], February 15: Shipyaari, the SAAS-based AI-powered logistics platform to empower e-commerce businesses to optimize, automate, track and simplify end-to-end logistics and supply chain operations, has launched the #FriendsWithBenefits campaign on February 14, 2022. The campaign, which targets B2C players and eCommerce sellers in Mumbai, Navi Mumbai, Thane, Biwandi and Aurangabad, will get Rs.100 upon successful KYC, which can be used to make Shipping.

With the growth of eCommerce in the last decade and the push received during the recent pandemic, there is an increased need for SaaS-based logistics aggregators who can provide seamless delivery platforms. According to statistics published on IBEF, ‘the Indian E-commerce market is expected to grow to US$ 111.40 billion by 2025 from US$ 46.2 billion as of 2020.’

Another report on the logistics industry published in Economic Times mentioned ‘that the road logistics market in India is expected to grow at a compounded annual growth rate of 8 per cent in the next five years, to reach USD 330 billion by 2025. This growth will be fueled by factors such as the rapidly growing e-commerce sector and a growing retail sales market, among others.’

“These facts assert that there is a huge demand for logistics based aggregators like Shipyaari, who can provide seamless and convenient shipping services for the sellers,” says Vishal Totla, Co-founder & COO of Shipyaari. “Shipyaari’s platform will help companies realize their vision of a seamless and cost-effective logistics flow, allowing shippers and manufacturers to build a suitable strategy and real-time decision making that prove beneficial for their businesses, ” he adds.

About Shipyaari:

Shipyaari is a SaaS-based logistics provider based in Mumbai, Maharashtra is the leading eCommerce shipping solution trusted by around 20,000+ sellers across India for simplifying real-time visibility throughout the end-to-end supply chain. It provides a completely automated platform that assists them in choosing the right supply chain partner for them as per their requirement and anticipating supply chain disruptions and fluctuations with complete visibility. Their platform provides solutions to all your shipping troubles like saving your money by reducing the transportation cost, better management, cost-saving linked to visibility at never like before discounted rates, management of non-compliant suppliers, and improved tracking.

(L-R) Ms. Khyaati Jain – MIT, Mr. Sagi Itcher – Consulate of Israel, Mr. Gaurav Bhatia – MIT

Last year, MIT’s RISE partnered with ThriveDX Impact to offer their Cybersecurity Bootcamp

Mumbai (Maharashtra) [India], February 15: Mr. Sagi Itcher, Head of Economic and Trade Mission, General Consulate of Israel, Mumbai, on Friday lauded the effort of WPU RISE of Maharashtra Institute of Technology (MIT) Pune in expanding cybersecurity education in India by partnering with ThriveDX of Israel which is known globally to offer quality cybersecurity education based on Israeli military methodologies.

Israel and India have completed 30 years of partnership, and on occasion, a two-member delegation led by Mr. Gaurav Bhatia, Chief Business Officer, RISE WPU, met the Israeli Consulate in Mumbai. The interaction included key discussions around the India-Israel relationship, education and cybersecurity partnership and exploring synergies in other domains like Agritech, AI, Machine Learning and Robotics.

In August 2021, MIT’s RISE partnered with ThriveDX Impact to offer their Cybersecurity Bootcamp, which imparts job oriented cyber skills to students and working professionals with the aim of upskilling and reskilling the workforce.

Commenting on the development, Mr. Sagi Itcher said, “More than one million IT and cybersecurity jobs are required in the Indian market. In practice, many workers do not get the professional training that employers seek. How do you bridge the gap? Targeted training. Or rather skills-based training with world-class Israeli companies.

Happy to learn about the successful collaboration between Israel’s ThriveDX SaaS and RISE (MIT World Peace University’s online arm) working together to close the gap in Cyber Security training. The Israel Economic & Trade Mission to Mumbai is working to connect Israeli knowledge and training to quality manpower in India and provide the need for cyber security.”

Thanking the Israeli Consulate, Mr. Gaurav Bhatia, Chief Business Officer, RISE WPU, said, “We are excited to bring Israel’s technical know-how to India through online learning. We believe that there are many areas for collaboration such as Cybersecurity, Deep Technology, Agritech and Entrepreneurship. We at RISE look forward to closely working with the Israeli Trade Council on these initiatives.

We already work closely with our partner ThriveDX, a Global cyber education leader from Israel, to bring their programs to India and ensure we can create more opportunities for Indian talent to work in the growing domain of Cyber Security. We look forward to building more ties with the Israeli community and promoting economic growth in both countries.”

There is a global shortage of skilled cyber workforce, and as per a study by World Economic Forum, 59% of the respondents find it challenging to respond to a cybersecurity incident due to the shortage of skills within their team. The situation is all the more challenging in nations like India, where digital literacy is low, and people are tricked via methods like social engineering.

About ThriveDX SaaS

ThriveDX SaaS, formerly known as Cybint Solutions, is the software as a service arm of ThriveDX, the global education company committed to transforming lives through digital skills training and solutions. ThriveDX SaaS partners with universities to offer diverse learning solutions, including technical Bootcamps, custom and intro courses, and practical lab exercises. Our team comprises military-trained cyber experts, industry veterans, and educators united under the vision of creating a safer digital world through education, training, and collaboration.

February 15: Jitendra Vaswani- the name itself is one whole definition of a true and successful hustler. He considers his work as God and worships it regularly. Since he was completely devoted to his work despite the hardships and the challenges that came in his way, he could grab success. His hard work paid off in the long run and helped him earn a good name in the industry. Jitendra Vaswani has gone through several challenges in life. He has experienced the ups and the downs in his life. And today, he is out there standing tall as one of the most successful digital marketers in India. Jitendra even has wide recognition in the international digital marketing industry.

Here, we will go through Jitendra Vaswani’s roller-coaster journey from being an engineer to becoming the founder of an online marketing blog named BloggersIdeas.com.

Engineer Turned Full-Time Blogger Jitendra Helps Readers Make Good Cash Online

Similar to the hundreds and thousands of engineers throughout India struggling through the four difficult years of their engineering, opting for it only to fulfil their parents’ dreams, Jitendra Vaswani also joined the Rajasthan Technical University in Jaipur for completing a Bachelor’s degree in Information Technology.

Jitendra has no interest in this field, and he just dragged himself through his days of engineering. And the moment he completed his graduation, he made up his mind to start a career as an SEO executive in a startup. He knew about his interest in the field of digital marketing, and therefore he started to develop his skills, knowledge, and talent in this domain.

He spent around two and a half years serving the SEO field with different startup companies like FirstCry, Zopper, and Youthsphere. After spending this time in the SEO industry, Jitendra made up his mind to write about everything, all the information and knowledge he had gained. He chose to blog because there is no other medium as good as blogging when reaching out to many people online.

Hence, he took up full-time blogging in 2014 with his first official blog called BloggersIdeas.com. This blog is wholly dedicated to providing blogging tips and all possible information about the field of digital marketing.

Jitendra Vaswani’s Brainchild: BloggersIdeas.com

Taking inspiration from the bloggers around him, Jitendra Vaswani started his journey as a blogger by creating his own blog. Thus, he became the founder of BloggersIdeas.com. His blog is aimed at helping SEO experts and bloggers who are struggling to get a clear understanding of the online marketing concept.

Some reasons how Vaswani’s blog can assist individuals and why his blog is useful are as follows:

• The readers get blogging tips that can help them become better bloggers.
• Some tips can help individuals in increasing traffic on their blogs.
• You get to know about real search engine optimization.
• SEO experts get to learn about SEO in details
• Bloggers even get the required help to take their blog to an entirely new level.
• The blog says that interviewing some of the most popular and top-quality SEO experts can help the readers clear their doubts.

The instant success that BloggersIdeas became encouraged Vaswani to establish his very own Digital Marketing Agency known as “DigiExe.” Based on Vaswani’s core principles of living on his own terms, making a maximum effort all the time, and working on only what he loves, DigiExe has moved ahead and assisted many online businesses in generating increased worth.

At present, Vaswani has a portfolio of more than 35 niche websites and is making $150K+ every year from them as profits.

Conclusion

One of the most exciting things about Jitendra Vaswani’s journey from being an engineer to becoming a full-time blogger is that his family still does not know about his blogging profession. He believes that Indian parents are excessively concerned about society while not taking care of their children’s feelings. They hardly pay heed to what their kids want to become, only to fulfill their dreams of standing up high in society, saying that their son or their daughter is a doctor or an engineer.

Hence, Jitendra is still waiting for the right time to tell his parents about his full-time blogging profession. But until then, he is looking forward to continuing his journey as a full-time blogger, professional speaker, and digital marketing expert to the next level. He says that you must never pay attention to what your relatives say about you. Focus on your work and the dreams you are looking to achieve. Whatever you are thinking of accomplishing in life, you can accomplish the same, but only if you strike very hard.

February 14: The Global Policy Diplomacy and Sustainability or GPODS Fellowship is a program for public policy practitioners, business professionals, energy and climate change experts, entrepreneurs, academicians, scholars, and strategic analysts to act as a launchpad for their careers. It has also served as a platform for those looking to transition their career into the fields of public policy, diplomacy, and sustainability.

Through the 3 months online intensive program over the summer beginning in June, GPODS Fellows will be able to take up a variety of courses and skill workshops to build a foundational understanding of global governance, policy, sustainable ecosystems, and strategic issues from a multidimensional perspective.

At GPODS, the Fellows learn in an international environment of peers and mentors from 20+ countries. The Fellowship attracts mentors who lead the global discourse and governance. Some of the past mentors include heads of states, UN officials, diplomats, professors from Ivy League Universities, Judges, Ministers, CEOs, and NGO Leaders.

GPODS has hosted mentors such as:

• H.E. Amina Gurib Fakim, Former President, Republic of Mauritius
• Dr. Henrik Syse, Former Vice-Chair, Nobel Peace Prize Committee
• Mr. Erik Solheim, Former Minister of International Development, Norway
• H.E. Ambassador Christoph Heusgen, Permanent Representative of Germany to the United Nations
• H.E. Louise Blais, Ambassador and Deputy Permanent Representative of Canada to the United Nations
• Justice Brian Preston, Chief Judge of the Land and Environment Court, New South Whales.
• Prof. Armin Rosencranz, Professor Emeritus, Stanford University
• Justice Michael Wilson, Judge, Supreme Court of Hawaii.
• H. E. Ambassador Simona-Mirela Miculescu, Permanent Delegate of Romania to the United Nations Education, Scientific and Cultural Organization (UNESCO).
• Elizabeth Mrema, Executive Secretary, Secretariat on the Convention of Biodiversity.
• Professor John Mathiason, Cornell University.
• Justice Sabrina S. McKenna, Associate Justice, Hawaii Supreme Court.
• John Dickson, President, World Trade and Development Group.
• Magali Caceres, Former Minister of Youth, Paraguay.
• Shelli Brunswick, COO of the Space Foundation, Washington DC.
• Ravi Mariwala, Indian Investor and Businessman.
• Gaurav Dalmia, Chairperson Dalmia Group Holdings
• Satya S. Tripathi UN Assistant Secretary-General and Head of New York Office at UN Environment.
• Justice Luc Lavrysen, Judge, Constitutional Court of Belgium; Chair, European Union Forum of Judges for the Environment.
• Brennan Van Dyke, Chief, Capacity Development and Innovation Branch, Science Division, UN Environment Programme.
• Benedikt Franke, CEO, Munich Security Conference.
• Prof. Katarzyna Pisarska, Founder of the European Academy of Diplomacy, the Visegrad School of Political Studies, and Co-Founder of the Casimir Pulaski Foundation and the Warsaw Security Forum.
• Ambassador Freddy Svane, Ambassador of Denmark to India.

Apply now on www.gpods.org

Early Application Deadline: April 15, 2022

Final Application Deadline: May 15, 2022

Apply on: www.gpods.org

Maj Gen OP Gulia, (Retd), CEO, SVP Global Ventures Ltd

Revenue rise 9.7% to Rs. 406.7 crore; EBITDA grew 11.6% to Rs. 94.66 crore in Q3FY22

 The company has recently changed its name to SVP GLOBAL TEXTILES LTD from SVP GLOBAL VENTURES LTD

Mumbai, 14 February 2022: India’s leading compact cotton yarn manufacturer and one of the fastest-growing multinational textile companies, SVP Global Textiles Ltd, has reported a net profit of Rs. 41.23 crore for the Q3FY22 ended December 2021, as against a net profit of Rs. 33.29 crore in Q3FY21, a growth of 23.87%. EBITDA for Q3FY22 was reported at Rs. 94.66 crore (EBITDA Margin 23.27%) as compared to EBITDA of Rs. 84.81 crore (EBITDA Margin 22.89%) in Q3FY21, a growth of 11.62%. Income from Operations for the Q3FY22 was reported at Rs. 406.69 crore, growth of 9.75% over previous fiscal’s same period income from operations of Rs. 370.55 crore. EPS for Q3FY22 was reported at Rs. 3.26 per share.

Financial Highlights (Consolidated)                       (Amount in crore)

The company plans to be a fully integrated Textile Company from Fiber to Fashion with forwarding integration into fabric and garments. The company is also setting up a 4,375 MT per annum green-field facility for Technical textiles at Jhalawar, Rajasthan, with a CAPEX of Rs. 100 crore. The company has recently changed its name to SVP Global Textiles Ltd from SVP Global Venture Ltd.

Commenting on the results and performance, Maj Gen OP Gulia, SM, VSM (retd), CEO, SVP Global Textiles Ltd, said, “In spite of challenging business environment post-Covid, company has reported steady performance during the quarter across all segments. All our expansion plans are going as scheduled, Oman Plant is running at optimum capacity, and our foray into technical textiles is also going as planned. We are confident of achieving 25-30% growth in revenue post completion of the expansion plans. Economy and business activities are picking up momentum, and we are confident to post better growth numbers in Q4 FY22.”

For the nine months ended December 2021, the company posted a net profit of Rs. 121.27 crore (PAT Margin 10.17%). Income from Operations for the 9MFY22 was reported at Rs. 1192.95 crore, growth of 30.79% over previous fiscal’s same period income from operations of Rs. 826.37 crore. EBITDA for 9MFY22 was reported at Rs. 279.11 crore (EBITDA Margin 23.4%). EPS for 9MFY22 was reported at Rs. 9.59 per share.

Established in 1898 by Shri Vallabh Pittie, SVP Group is engaged in the manufacturing of polyester, polyester & cotton blend, and 100% cotton yarn across 3 state-of-the-art manufacturing facilities in Jhalawar (Rajasthan), Ramnad (Coimbatore) and Sohar (Oman). The company has a 125 year legacy in textiles and has the vision to become a world-leading, fully integrated textile company in manufacturing yarn, fabric and garments. The order book of the company currently stands at over Rs. 5000 crore.

SVP Global is among the top 2% Indian Manufacturers with technology less than 5 years old and output of 153-154 grams per spindle per shift, which is the highest in the industry. Company’s manufacturing facilities are equipped with the latest technology automated machinery equipped with Artificial Intelligence and IOT capabilities from Blow Room to Windling. SVP Global is accredited as an approved supplier for leading brands, including IKEA and Zara. Certifications from OCS, GOTS, BCI, OEK-TEX, STD 100, Fair Trade, SUPIMA Gold and ISO.