Category: Business

  • Rishab Agarwal’s Petition Challenging WeWork India IPO Disclosures Withdrawn Unconditionally

    Rishab Agarwal’s Petition Challenging WeWork India IPO Disclosures Withdrawn Unconditionally

    Mumbai (Maharashtra) [India], February 14: A petition challenging WeWork India’s initial public offering prospectus has been withdrawn by the petitioner. The Bombay High Court withdrew the writ petition after similar petitions were dismissed in December 2025.

    The matter was listed before a division bench of Justice R.I. Chagla and Justice Advait Sethna.

    “By Praecipe bearing today’s date, the learned Advocate for the Petitioner has sought for leave to withdraw the Writ Petition (L) No. 32194 of 2025 unconditionally. Accordingly, leave is granted. Writ Petition (L) No. 32194 of 2025 is disposed of as withdrawn”, the Court noted in its order.

    The petitioner argued that WeWork India concealed key regulatory complaints in its IPO prospectus, withholding complaints lodged by certain entities.

    In the earlier decision by Bombay HC, the Court also dealt with objections founded on the issuer’s financial position and clarified that Regulation 6 (2) of ICDR regulations provides a statutory route for issuers to proceed through book-building with the required institutional allocation, even where certain financial eligibility conditions are not met placing emphasis on robust risk-factor disclosures rather than a merits review of the business.

    The petitions were argued by senior advocates and involved technical debates on securities law, disclosure norms and the obligations of issuers under SEBI regulations. It raised a natural question. How do small retail investors, presumably with limited stakes, secure such representation for complex issues that are normally raised by institutional investors or specialised advisory firms.

    “The resolution of all three petitions reaffirms the integrity of India’s securities regulatory framework and sends a clear message that judicial processes cannot be misused for extraneous commercial purposes”, said a  WeWork India Spokesperson.

    The withdrawal removes an active strand of litigation around the WeWork India IPO disclosure narrative and leaves the High Court’s earlier reasoning as the operative benchmark on these challenges particularly its reaffirmation of SEBI’s approval process, the centrality of “true and adequate” material disclosures, and the Court’s reluctance to convert writ jurisdiction into a parallel merits review of an offer document already examined within the statutory framework.

  • 207 Patents, 800M Views: The Double Validation of Indian AI Innovation

    207 Patents, 800M Views: The Double Validation of Indian AI Innovation

    How technical credibility and public resonance combined to create an authority that can’t be dismissed

    New Delhi [India], February 14: Intellectual property and viral reach don’t usually correlate. Patents protect technical innovation; their value is measured in licensing revenue and competitive moats. Viral content spreads cultural moments; its value is measured in engagement and influence. The two exist in different worlds, validated by different standards, serving different purposes.

    The case of Angelic Intelligence challenges this separation—and in doing so, creates a form of credibility that neither metric alone could establish.

    Shekhar Natarajan holds over 207 patents across supply chain management, logistics optimization, and artificial intelligence. This isn’t the portfolio of a philosopher, a content creator, or a social media personality. It’s the portfolio of an inventor—someone who has spent decades building systems complex enough to warrant legal protection, reviewed by patent examiners trained to distinguish genuine innovation from incremental variation.

     207 patents proved I knew how to build. 800 million views proved I knew what to build for. 

    The technical portfolio matters because it addresses the most common criticism of AI ethics frameworks: that they’re proposed by people who don’t understand how AI actually works. Philosophers can articulate what AI should do; they often can’t explain how to make it do so. Ethicists can identify problems; they rarely possess the technical depth to propose architecturally coherent solutions.

    Natarajan’s patent portfolio—much of it involving machine learning applications to logistics and prediction, awarded by the USPTO’s most rigorous examination processes—demonstrates technical depth that can’t be acquired through reading or theorizing. The systems he’s patented work. The innovations were novel enough to survive examination. The credentials are a matter of public record.

    “You can’t dismiss him as someone who doesn’t understand the technology. The patents prove he’s built the systems he’s now proposing to rebuild differently. That changes the conversation completely. He’s not an outsider criticizing what he doesn’t understand. He’s an insider proposing a different direction.” — an intellectual property attorney specializing in AI patents

    The Angelic Intelligence framework itself is supported by new patent filings covering virtue-native computational architecture, multi-agent AI coordination with specialized ethical agents, and novel approaches to embedding ethical reasoning in system design. These aren’t philosophical position papers dressed up in technical language. They’re architecturally specific proposals that claim protection for particular implementations.

    The patent filings reveal technical depth invisible in the viral content. The 27 Digital Angels aren’t just conceptual—they’re specified as computational agents with defined roles, interaction patterns, and integration mechanisms. The virtue-native approach isn’t just an aspiration—it’s a set of architectural choices that differ from constraint-based approaches in concrete, documented ways.

     Patents protect inventions. Our patents protect a principle: that intelligence without virtue isn’t intelligent at all. 

    The viral reach provides a different kind of validation. Patents prove an idea is novel enough to protect—that it represents genuine innovation rather than obvious extension of existing work. Viral adoption proves an idea is resonant enough to spread—that it addresses needs people actually have rather than problems only experts perceive.

    The combination creates credibility that either alone couldn’t establish. Technical innovation without public resonance is an invention without a market. Public resonance without technical innovation is a movement without substance. When both align—when patented innovation achieves viral reach—the result is authority that’s difficult to challenge.

    “We can’t attack the technical credibility—the patents are public. We can’t dismiss the public interest—the numbers are too large. The combination puts us in a difficult position. We have to engage with the ideas themselves, which means we have to take them seriously.” — a strategy executive at a major AI company, speaking anonymously

    For the AI industry, this double validation poses a particular challenge. Technical credibility is usually established through academic publication, industry employment, or venture backing. Public credibility is usually established through media coverage, institutional endorsement, or celebrity association. Angelic Intelligence achieved both through neither conventional path—patents filed independently, reach achieved organically.

     The patent office certified our innovation. Eight hundred million people certified our vision. 

    The validation has practical implications. Licensing discussions are reportedly underway with multiple parties interested in implementing aspects of the framework. Academic institutions have reached out about collaboration. Government bodies have expressed interest in understanding how the architecture might address regulatory concerns about AI safety.

    “When someone has both the patents and the public, you can’t ignore them. They’ve validated through invention and through adoption. The question isn’t whether to engage—it’s how to engage before they set the agenda without us.” — an executive at a major technology company

    Whether the patents will be widely licensed, the framework broadly adopted, or the ideas absorbed into mainstream AI development remains to be determined. But the double validation has established something durable: credibility that transcends the usual paths and can’t be easily dismissed.

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  • The Indian AI Framework Breaking the Internet: 800 Million Views and Counting

    The Indian AI Framework Breaking the Internet: 800 Million Views and Counting

    How a virtue-based approach to artificial intelligence became the most viral philosophy in tech history—without spending a dollar on marketing

    New Delhi [India], February 14: In the algorithmic battleground where viral content lives and dies within hours, one philosophy about artificial intelligence has done something unprecedented: it keeps growing. And nobody in Silicon Valley can explain why.

    Angelic Intelligence—a virtue-based AI framework developed by Indian-American technologist Shekhar Natarajan—has accumulated over 800 million views across social media platforms. Not through paid promotion. Not through celebrity endorsement. Not through the growth-hacking playbook that every funded startup deploys. Through an idea so resonant it refuses to stop spreading.

     Silicon Valley built AI to optimize. India built AI to dignify. 

    The numbers arrived first as anomalies in analytics dashboards across major platforms. Content about AI ethics doesn’t go viral. It gets published in academic journals, discussed at conferences, cited in policy papers. It doesn’t accumulate engagement metrics that rival entertainment content. Except this time, it did.

    “We ran the numbers three times because they didn’t make sense. Philosophical content doesn’t behave this way. It doesn’t compound. It doesn’t accelerate after eighteen months. Something different is happening here.” — a senior data scientist at a major social media platform, speaking on condition of anonymity

    At its core, Angelic Intelligence inverts the dominant paradigm of AI safety. Where Western approaches add ethical guardrails to powerful systems—essentially building a racehorse and then adding a bridle—Natarajan’s framework embeds virtue directly into the computational architecture itself. The distinction sounds subtle. In practice, it represents a fundamental rethinking of what artificial intelligence should be.

     You don’t make a predator safe by adding a leash. You breed something that was never designed to hunt. 

    The 27 Digital Angels at the heart of the system aren’t constraints. They’re specialized agents, each embodying a specific virtue—from Diksha (conscience) to Karuna (compassion) to Viveka (discernment). They don’t limit AI capability; they shape how that capability manifests. The architecture ensures that ethical reasoning isn’t an afterthought bolted onto a system designed for pure optimization. It’s native to how the system thinks.

    The framework emerged from Natarajan’s 25 years navigating the tension between optimization and humanity at Fortune 500 companies. At Walmart, he grew grocery operations from $30 million to $5 billion while watching algorithms squeeze efficiency from supply chains and dignity from workers. At Disney, he saw personalization engines that knew everything about customers except what actually mattered to them. At Coca-Cola, PepsiCo, and Target, he witnessed the same pattern: systems that got smarter in ways that made them less humane.

    “Every optimization I implemented made the numbers better and the people worse. I spent two decades being rewarded for building systems I knew were breaking something important. Eventually you have to ask whether you’re solving problems or creating them.” — Natarajan, in a rare extended interview

    The context matters. In 2025 alone, AI-generated deepfakes defrauded individuals and businesses of an estimated $12 billion globally. A grandmother in Chicago lost her life savings to a voice-cloned call impersonating her grandson. A Hong Kong finance worker transferred $25 million after a video call with what appeared to be his CFO—entirely AI-generated. These aren’t abstract risks. They’re the lived reality of AI without conscience.

    The context matters. In 2024 alone, AI-generated deepfakes defrauded individuals and businesses of an estimated $12 billion globally. A finance worker in Hong Kong transferred $25 million after a video call with what appeared to be his CFO—entirely AI-generated. Romance scams using AI-cloned voices increased 300% in eighteen months. Parents received calls from their children’s voices begging for ransom money—voices that weren’t real. These aren’t abstract risks discussed at academic conferences. They’re the lived reality of AI without conscience.

    Her name was Margaret, and she was 78 years old. She had lived in Denver for forty years, raised three children there, buried her husband there. She had a heart condition that required daily medication—pills that had kept her alive and active for over a decade. Then an algorithm intervened. The AI system managing prescription approvals for her insurance provider flagged her case. Based on actuarial models, predictive analytics, and cost-optimization protocols, the system determined that her medication regimen was no longer ‘indicated’ for a patient of her age and profile. The denial letter arrived with no human signature, no phone number to call, no person to plead with. Just a reference number and a form to submit for ‘automated review.’ Margaret couldn’t afford the medication out of pocket—$847 a month on a fixed income. So she did what millions of Americans do: she rationed. Half a pill instead of a whole one. Skipped days when she felt okay. Stretched a 30-day supply to 60. Her daughter found her three months later. Heart failure. The algorithm that made the decision is still running. It has no idea Margaret ever existed. It optimized exactly as designed.

    The viral spread has followed an unusual geographic pattern. Initial traction came not from tech hubs in San Francisco or Seattle but from developing nations—India, Brazil, Indonesia, Nigeria, the Philippines. The message resonated with populations who had experienced optimization’s costs firsthand: gig workers rated by algorithms that determined their livelihoods, farmers squeezed by AI-driven commodity trading, communities displaced by efficiency-maximizing systems that treated human considerations as friction to be eliminated.

     800 million people weren’t looking for better AI. They were looking for proof that better was possible. 

    Three executives at major AI companies, speaking on condition of anonymity because they weren’t authorized to discuss competitive intelligence, confirmed that Angelic Intelligence has become a recurring topic in strategy meetings. The concern isn’t technical—the framework hasn’t yet been implemented at scale. The concern is narrative. For the first time, a coherent alternative to the dominant approach has captured public imagination.

    “We’ve spent billions establishing our approach as inevitable. The idea that there’s a fundamentally different way to build AI—and that hundreds of millions of people prefer it—that’s not a technical problem. That’s an existential one.” — a vice president at one of the three leading AI labs

    The phenomenon has caught the attention of institutions that traditionally set the agenda for global technology governance. Invitations have come from the World Economic Forum in Davos and the Future Investment Initiative in Riyadh—platforms where the future of AI is debated and, increasingly, decided. What started as viral content is translating into institutional access.

    Whether Angelic Intelligence can translate reach into structural change remains an open question. Viral attention is not the same as implemented policy. Public resonance is not the same as corporate adoption. But the 800 million views have already accomplished something significant: they’ve proven that the conversation about AI’s future isn’t limited to those who build it.

    “We assumed the public would accept whatever AI we gave them. We assumed they didn’t have opinions about architecture or values or what these systems should optimize for. Eight hundred million people just told us we were wrong.” — a researcher at a leading AI safety organization

    In Natarajan’s telling, the viral spread was never the goal. He built the framework because he believed it was necessary. He shared it because he believed others deserved the option. The scale of response reflects not his marketing but the depth of an unmet need.

     I didn’t set out to go viral. I set out to tell the truth. It turns out the truth was what people were waiting to hear. 

    The numbers continue to climb. As of this writing, engagement shows no signs of plateauing. The idea, it seems, has found its moment. What the world does with it remains to be seen.

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  • Shri Keshav Cements & Infra Delivers 454 Bps YoY EBITDA Margin Expansion in 9M FY26, Demonstrating Strong Operating Leverage

    Shri Keshav Cements & Infra Delivers 454 Bps YoY EBITDA Margin Expansion in 9M FY26, Demonstrating Strong Operating Leverage

    Mumbai (Maharashtra) [India], February 14: Shri Keshav Cement & Infra Limited (BSE – 530977), engaged in the manufacturing of Cement and Solar Power Generation and Distribution in the state of Karnataka has announced its Unaudited Financial Results for Q3 & 9M FY26.

    Key Financial Highlights:

    9M FY26 Financial Highlights

    Total Income of ₹ 116.31 Cr, YoY growth of 35.81%

    EBITDA of ₹ 29.28 Cr, YoY growth of 66.85%

    EBITDA Margin of 25.68%, YoY expansion of 454 Bps

    PAT of ₹ 3.23 Cr, Loss to Profit

    PAT Margin of 2.78%, Loss to Profit

    Diluted EPS of ₹ 1.85, Loss to Profit

    Q3 FY26 Financial Highlights

    Total Income of ₹ 38.69 Cr, YoY growth of 33.22%

    EBITDA of ₹ 10.50 Cr, YoY growth of 63.10%

    EBITDA Margin of 27.68%, YoY expansion of 477 Bps

    PAT of ₹ (0.54) Cr, Profit to Loss

    PAT Margin of (1.41) %, Profit to Loss

    Diluted EPS of ₹ (0.31), Profit to Loss

    Commenting on the financial performance, Mr. Venkatesh Katwa, Chairman of Shri Keshav Cement & Infra Limited said “9M FY26 marks a clear phase of strengthening performance, with sustained improvement across revenue, margins, and profitability. The cement segment continued to be the highest contributor, anchoring growth through stronger volumes, better realizations, and improved operating stability.

    Operational efficiencies improved meaningfully during the period, supported by higher capacity utilization and disciplined cost control. This translated into stronger operating leverage and noticeable margin expansion, reinforcing the quality of earnings.

    Most importantly, the Company delivered a decisive turnaround at the bottom-line level, shifting from losses in the previous year to healthy profitability. The improved cost structure, stabilized kiln operations, and focused execution have created a more resilient and scalable operating platform.

    With operational stability now firmly in place, the Company is well positioned to sustain growth momentum, strengthen its market presence, and drive consistent value creation in the coming quarters.”

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  • Ducon Infratechnologies Reports Q3 and 9M FY26 Results; Advances Strategic Clean Energy Initiatives

    Ducon Infratechnologies Reports Q3 and 9M FY26 Results; Advances Strategic Clean Energy Initiatives

    Mumbai (Maharashtra) [India], February 14: Ducon Infratechnologies Limited (NSE- DUCON | BSE- 534674 | INE741L01018), a global diversified technology EPC company delivering engineering solutions across environmental control, clean energy, infrastructure, and process industries has announced its unaudited financial results for Q3 and 9M FY26

    Consolidated Key Financial Highlights

    9M FY26 Consolidated Financial Highlights

    • Total Income of ₹321.18 Cr

    • EBITDA of ₹20.82 Cr

    • EBITDA Margin of 6.48%

    • Net Profit of ₹9.14 Cr

    • Net Profit Margin of 2.84%

    Q3 FY26 Consolidated Financial Highlights

    • Total Income of ₹94.31 Cr

    • EBITDA of ₹5.84 Cr

    • EBITDA Margin of 6.19%

    • Net Profit of ₹2.31 Cr

    • Net Profit Margin of 2.45%

    Commenting on the performance, Arun Govil, Chairman & Managing Director of Ducon Infratechnologies Ltd., said: “This quarter reflects a steady performance in what continues to be a transitional phase for the sector, but the broader structural opportunity ahead remains compelling. Policy momentum around carbon capture and clean energy is clearly building, and our early move into solvent-based carbon capture R&D positions us well to benefit from India’s ₹20,000 crore CCUS initiative. At the same time, the launch of our IQ Energy AI platform aligns us with the growing demand for smarter and more efficient power systems, especially as AI-led data centre expansion drives incremental energy requirements.

    Looking ahead, we see strong tailwinds from tightening environmental norms, modernization of power infrastructure, and increasing focus on efficiency-led investments. With our integrated EPC capabilities and technology-led approach, we are well placed to participate in these emerging opportunities while improving execution discipline and operating leverage. We remain confident that these strategic initiatives will support sustainable growth as industry investments accelerate.”

    Recent Key Business Highlights

    Carbon Capture R&D: Initiated solvent-based carbon capture R&D ahead of policy support, positioning the company to benefit from India’s ₹20,000 crore CCUS push.

    AI Platform Launch: Launched IQ Energy AI platform to optimize power generation efficiency, reduce downtime and support utilities amid rising demand from AI-driven data center.

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  • Ganesh Infraworld Ltd Net Profit up 68pc Y-o-Y to Rs.19.04 crore in Q3FY26

    Ganesh Infraworld Ltd Net Profit up 68pc Y-o-Y to Rs.19.04 crore in Q3FY26

    New Delhi [India], February 14: Kolkata based Ganesh Infraworld Limited (NSE – GANESHIN) leading company in the infrastructure and engineering sector has reported strong operational and financial performance for the Q3FY26. Company has reported consolidated net profit of Rs. 19.04 crore in Q3FY26, up 68% Y-o-Y from net profit of Rs. 11.34 crore reported in Q3FY25. Revenue from operations for Q3FY26 was reported at Rs. 215.32 crore, 44.3% rise Y-o-Y as compared to the revenue from operations of Rs. 149.19 crore in the corresponding period last year. The company has a strong order book of Rs. 2,211.7 crore with presence in eight states.

    Highlights:-
    • 9MFY26 Net Profit rise 81.9% to Rs. 51.7 crore; EBITDA up 99.2% to Rs. 75.6 crore.
    • 9MFY26 revenue from operations rise 59.6% to Rs. 606 crore
    • The company has a strong order book of Rs. 2,211.7 crore with presence in eight states.

    EBITDA for Q3FY26 was reported at Rs. 29.2 crore, 83.5% jump Y-o-Y from EBITDA of Rs. 15.9 crore reported in Q3FY25.

    As per the consolidated balance sheet, for the nine months ended 31 December 2025 of FY26, the company reported revenue of Rs. 608.30 crore rupees, an increase of 59.6% Y-o-Y as compared to revenue of Rs. 381.68 crore in the corresponding period last year. Net profit after tax for the nine months stood at Rs. 51.71 crore registering a growth of 81.9% rise over Rs. 28.43 crore profit in the corresponding period last year.

    Sharing more details, Mr. Vibhoar Agrawal Founder & CMD, Ganesh Infraworld Ltd, said, “FY26 continues to build strong momentum for Ganesh Infraworld Ltd., driven by disciplined execution, expanding business verticals, and a sharpened strategic focus. The Company remains committed to strengthening core capabilities while unlocking new, high-visibility growth avenues. With a robust order pipeline, expanding execution capabilities, and strategic entry into regulated mining operations through the new SPV, Ganesh Infraworld Ltd. is well-positioned to sustain high growth momentum and deliver long-term value through FY26 and beyond.”

    Incorporated in 2024, Ganesh Infraworld Limited is engaged in civil construction works for building, road, railway and water infrastructure projects across West Bengal, Bihar, Uttar Pradesh, Chhattisgarh, Maharashtra, New Delhi, Telangana, Odisha and Jharkhand.

    Crisil rating has recently assigned long term rating of Crisil BBB+/Stable rating and short term rating of Crisil A2. The rating reflects GIL’s established market position in the construction industry, healthy order book providing revenue visibility, diversified segments & geographical reach and healthy financial profile. These strengths are partially offset by its susceptibility to tender-based operations and increasing working capital cycle.

    Founded in 2017, Ganesh Infraworld Limited is a fast growing infrastructure and EPC company shaping India’s development landscape through civil, electrical, road, rail and water projects. From industrial facilities and highways to rail systems and water supply networks, the company delivers end to end construction solutions across multiple states with a strong footprint in eastern and northern India. Backed by a robust order book, a diversified project portfolio and long standing client relationships, Ganesh Infraworld combines execution strength with disciplined project management to build infrastructure that supports sustainable growth and lasting value.

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  • Love Aaj Kal: Pinky Promise Analyses 10,000 Conversations on Women and Pleasure

    Love Aaj Kal: Pinky Promise Analyses 10,000 Conversations on Women and Pleasure

    Mumbai (Maharashtra) [India], February 13: Pinky Promise, the world’s first AI and ML powered clinic for women’s sexual and reproductive health, has released findings from Love Aaj Kal, an analysis of over 10,000 anonymised conversations between women across India and Pinky Promise gynaecologists in 2025.

    Ahead of Valentine’s Day, the analysis highlights clear patterns in how women are approaching pleasure and sexual self-understanding, based on real, private conversations.

    Nearly 64 percent of users were between 18 and 23 years of age, with the average age at 23. Users ranged up to 37 years. The conversations span over 500 metros, towns and talukas across India. While Delhi and Mumbai contributed significant volume, more than 60 percent of queries originated from Tier 2 cities and smaller towns, including regions in the North East and Jammu and Kashmir.

    Pleasure-related discussions formed a significant portion of the dataset, with nearly 4,800 conversations centred on sexual self-understanding. More than half of these focused on self-pleasure. Women sought clarity around sensation, sensitivity and whether their experiences were typical.

    Over 30 percent of pleasure-related queries involved pain, irritation or soreness. Rather than ignoring discomfort, users sought clarification and reassurance. Conversations referencing personal massagers and similar devices, which accounted for approximately 3 percent of pleasure discussions, focused primarily on safety, irritation and long-term impact.

    Partner-related questions were also prominent. Many referenced boyfriends or casual partners across metros and smaller towns. These conversations focused on comfort, communication and mutual understanding, reflecting women taking initiative in navigating intimacy within their relationships.

    Commenting on the findings, Divya, CEO & Co-founder of Pinky Promise, said “What stands out in these conversations is how clearly women are articulating their experiences. They are asking specific questions about sensation, comfort and communication. When privacy is assured, the conversations become more direct and more informed. The engagement across cities and smaller towns shows that women are ready to explore these topics when they have access to safe spaces.”

    A 22-year-old participant from a Tier 2 city, who requested anonymity, shared, “Being able to ask questions privately made a big difference. It helped me understand what I was feeling and approach it with more confidence.”

    Key Observations from Love Aaj Kal

    • Women are initiating conversations about pleasure earlier in their sexual lives.
    • Self-pleasure is widely discussed across metros and smaller towns.
    • Discomfort prompts clarification rather than silence.
    • Communication within relationships is a recurring theme.
    • Anonymity encourages more direct and specific questions.

    Founded to improve access to reliable and confidential healthcare, Pinky Promise enables private digital consultations with qualified gynaecologists focused on women’s sexual and reproductive health. The platform supports informed, judgement-free conversations, making it easier for women across India to seek clarity about pleasure and intimacy.

    Pinky Promise

    About Pinky Promise

    Pinky Promise is India’s first AI-enabled women’s digital clinic offering chat-first gynaecological care through a mobile app. Available 24×7 in Hinglish and English, the platform enables women to consult qualified gynaecologists, receive prescriptions, and access ongoing care at an affordable starting price of ₹99. Since launch, Pinky Promise has served over 350,000 women across India.

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  • VMS TMT Reports Robust Q3 FY26 with 43pc EBITDA Growth and 278pc PAT Increase QoQ

    VMS TMT Reports Robust Q3 FY26 with 43pc EBITDA Growth and 278pc PAT Increase QoQ

    Ahmedabad (Gujarat) [India], February 13: VMS TMT Limited (BSE: 544521 | NSE: VMSTMT), a fully integrated steel manufacturer engaged in TMT Bars, Billets, and Binding Wires, announced its Unaudited Financial Results for the Quarter and Nine Months ended 31 December 2025.

    Key Financial Highlights – Q3 & 9M FY26 (₹ in Crores)

    Particulars Q3 FY26 QoQ Growth 9M FY26
    Total Income 202.51 +10.6% 598.84
    EBITDA 17.53 +43.4% 50.38
    Net Profit 8.04 +277.8% 18.74
    EPS (₹) 1.62 +174.6% 4.67

    Operational & Business Highlights 

    • Strong sequential growth in Q3 supported by improved plant utilization and stable demand across retail and institutional segments.
    • Backward integration through the billet (CCM) facility continued to enhance cost control and raw material availability.
    • Retail-led distribution network of 227+ dealers and 3 distributors sustained steady offtake across Gujarat.
    • Automation and process optimization at the Bhayla plant improved productivity and operating leverage during the quarter.
    • Completion of IPO-related debt repayment strengthened balance sheet and reduced finance costs.
    • Progress continued on the 15 MW captive solar power project to structurally lower energy costs.
    • Healthy order pipeline maintained across housing and infrastructure-driven demand segments.

    Mr. Varun Jain, Chairman & Managing Director, VMS TMT Limited, said:

    “Q3 marked a strong sequential improvement for VMS TMT, with double-digit revenue growth and a sharp increase in profitability driven by operating leverage and efficiency gains across our integrated operations. The successful stabilization of our billet facility, improved plant utilization, and consistent retail demand supported performance during the quarter.

    Over the first nine months of FY26, we have strengthened our integrated manufacturing platform, expanded dealer engagement, and completed key balance-sheet milestones following our IPO. With healthy order visibility, continued infrastructure demand, and ongoing cost-optimization initiatives including captive solar power, we remain confident of sustaining growth momentum and improving margins over the medium term.”

    Disclaimer: This article is for informational purposes only and does not constitute financial advice.

  • Clean-tech Start-up Solar Capital launches digital platform enabling rooftop-less consumers to participate in India’s solar growth

    Clean-tech Start-up Solar Capital launches digital platform enabling rooftop-less consumers to participate in India’s solar growth

    New Delhi [India], February 13: As India accelerates its clean energy transition, Gurugram based Start-up, “Solar Capital” has announced the launch of its digital solar participation platform that enables individuals and organisations to take part in solar energy generation without owning rooftops or installing on-site infrastructure, with subscriptions starting from as low as Rs 999/-. This move significantly lowers entry barrier for consumers without rooftop access or the ones who simply don’t have the time to maintain the asset for its entire lifecycle. It expands the scope for fractional solar investment in India’s clean energy transition.

    India has set ambitious renewable energy targets; however, a significant portion of urban consumers, renters, apartment residents, and small businesses remain unable to adopt rooftop solar due to space constraints, leased premises, or operational complexities. At the same time, many commercial and industrial buildings with suitable rooftops are unable to deploy solar projects due to working capital limitations, balance-sheet constraints, and long payback cycles.

    Solar Capital addresses both challenges through a subscription-based, fractional solar investment model that allows users to digitally participate in verified, developer-owned solar projects while enabling host buildings to deploy solar capacity without upfront capital expenditure or financial risk. For many consumers comparing digital solar vs traditional solar, the participation-led approach removes installation, maintenance, and ownership complexities.

    Founded by Sameer Mishra and Maharshiraj Chudasama, Solar Capital was conceptualised after hundreds of on-ground interactions across the solar ecosystem. “We met individuals who wanted to support clean energy and save on bills but had no rooftops or the time for maintenance of the system for many years to come. Simultaneously, we saw commercial buildings hesitate to set one up due to capital lock-in,” said Sameer Mishra, Founder, Solar Capital. “We realised that separating solar participation from physical ownership could unlock adoption on both sides.”

    Solar Capital was recently awarded the Digital Solar Innovation Award 2026 by a leading business magazine. The recognition underscores the company’s role in expanding access to solar energy through scalable, technology-led participation models and highlights its contribution to India’s evolving clean energy ecosystem.

    Through the Solar Capital platform, subscribers can enroll digitally in shared and distributed solar projects operated by established developers. Sameer said, “The platform allows individuals and organisations to participate in solar projects with subscriptions starting from as low as Rs 999/-, making digital solar participation and fractional solar investment accessible to a much wider audience. Commercial buildings act as host locations without investing capital or taking on balance-sheet exposure”.

    Subscribers receive monthly Green Credits, redeemable across BBPS-enabled utility payments including electricity, gas, water, mobile, broadband, and other essential services.

    Solar Capital is backed by industry experts from the renewable energy, power, and financial services sectors, helping shape a compliance-led structure with predictable offtake models and scalable demand aggregation. This approach improves project bankability for developers while ensuring transparency and simplicity for subscribers.

    Early adoption has seen strong interest from urban consumers and small organisations, particularly those without rooftop access. Users have highlighted the ease of onboarding, clarity of the subscription structure, and flexibility of Green Credit utilisation as key benefits.

    Looking ahead, Solar Capital plans to expand partnerships with solar developers, commercial property owners, housing communities, and enterprises, while also scaling its participation-led clean energy models aligned with India’s 2047 sustainability goals.

    India’s solar transition is evolving from ownership-centric infrastructure to inclusive, digitally enabled participation. Solar Capital aims to play a key role in this shift by making solar accessible to a wider population.

    For more information, visit https://solarcapital.in

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  • DICCI to Host International Conclave on AI for Inclusion and the Future of Work on 18th February 2026

    DICCI to Host International Conclave on AI for Inclusion and the Future of Work on 18th February 2026

    New Delhi [India], February 13: The Dalit Indian Chamber of Commerce and Industry (DICCI) will convene the International Conclave on AI for Inclusion and the Future of Work 2026: Bridging the Equity Gap on 18th February 2026 at The Park, New Delhi. The conclave is being organised in partnership with iCreate, Indian Institute of Management Jammu, Infisum and the Entrepreneurship Development Institute of India (EDII), and will serve as a precursor to the India AI Impact Summit 2026.
    Supported by the Ministry of Electronics and Information Technology, Government of India, the conclave will bring together senior representatives from the Union and State Governments, global policymakers, industry leaders, economists, academic experts and social sector practitioners. Discussions will focus on aligning artificial intelligence with the goals of equity, livelihood security and inclusive economic growth.

    As AI rapidly reshapes productivity, service delivery and business models, the conclave will examine emerging risks around concentration of capital, compute infrastructure and intellectual property, and their potential to deepen structural inequalities. Deliberations will explore policy and market interventions required to ensure equitable access to AI through infrastructure development, responsible data governance and inclusive skilling frameworks.

    Key agenda areas include AI inequality in global development, governance frameworks for responsible AI deployment, formalisation pathways for MSMEs and informal workers, and the role of digital public infrastructure in expanding access to AI systems. Special emphasis will be placed on enabling participation of Scheduled Castes, Scheduled Tribes, women entrepreneurs, gig workers, sanitation workers, artisans and first-generation business owners in emerging AI value chains.

    A key outcome of the conclave will be the Delhi Declaration on Inclusive AI and the Future of Work, which is expected to outline national principles for equity-by-design, worker transition frameworks, portable social protection mechanisms, multilingual AI skilling pathways, inclusive data governance standards and strengthened Centre–State coordination. The Declaration will inform deliberations at the India AI Impact Summit 2026.

    Dr. Milind Kamble, Founder Chairman, DICCI & Conclave Chairman, Conclave on AI for Inclusion and the Future of Workstated, “Artificial intelligence will define the next phase of economic expansion. The central question is whether this growth will remain concentrated or become participatory. This conclave is anchored in six pillars — education, small business formalisation, financial literacy, future-ready agriculture, AI for speedy justice, and AI for empowering informal workers. Inclusion must be embedded at the design stage of AI systems and governance frameworks to ensure durable social mobility.”

    Padma Shri awardee Mr. Ravi Kumar Narra, National President, DICCI, added, “Economic empowerment delivers impact when policy intent is matched with institutional execution. AI must be deployed with similar discipline to enhance productivity in the informal economy, expand market access for small enterprises and enable credible worker transition pathways. Inclusion must be measurable, not aspirational.”

    Through this conclave, DICCI aims to institutionalise inclusion as a foundational principle within India’s evolving AI policy ecosystem, advancing structured dialogue and actionable commitments that align artificial intelligence with equity, employment and national development priorities.

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