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Category: Business

  • Akshara Centre Launches an Initiative towards Safety Audit for Women in the City – Primex News Network

    Akshara Centre Launches an Initiative towards Safety Audit for Women in the City – Primex News Network

    Respected Dignitaries at the Launch of Safety Audit Manual

    New Delhi (India), May 11: In an event hosted and organized by Maharashtra Mahila Arthik Vikas Mahamandal (MAVIM) under the auspicious occasion of Mahatma Jyotirao Phule and Dr. Babashaeb Ambedkar Birth Anniversary, A Women Safety Walk Marathi Manual and an animated video of Women’s Safety Walk was released and launched by Akshara Centre in the presence of Hon’ble Minister Madam, Yashomati Thakur, Mumbai Mayor Madam, Kishori Tai Pednekar, MAVIM Chairperson Madam, Jyoti Tai Thakare, MAVIM Managing Director Madam, Ms. Shraddhaa Joshi.

    In support of the initiative, Hon’ble Minister Women and Child Development Department Madam Yashomati Thakur very fondly expressed that “We want women of the city to be strong, safe, educated, and financially independent just like Savitri Bai Phule. But while focusing on that we must also think about creating more Jyoti Raophule’s in the society.  This process must begin right from childhood, just like parents teach girls what to do and what not to do, they must also teach boys what NOT to do! Only then there will be more Jyoti Rao’s in the society who will ensure a safe environment for many more women like Savitri Bai’s.”

    Mumbai Mayor, Kishori Pednekar and MAVIM Chairperson Madam Jyoti Thakare too congratulated MAVIM and Akshara to take this initiative ahead.

    In the larger conversation on Women Safety in association with MAVIM, Akshara Centre brought to light the need for gender inclusion and safety of women and girls from fear of violence free access to mobility.

    Dr. Nandita Shah, Co-Founder Akshara Centre expressed that, “on this auspicious day we are happy to launch the Marathi Women’s Safety Walk Manual and the animated video on women’s safety walk. We consider this as a campaign for Women’s Safety in Public Places. Today, we are hopeful that CMRC Managers and Sayogini’s of MAVIM who got trained as trainers will take the process ahead and this Women’s Safety Walk Manual will come handy for the effective implementation of women’s safety walks to be undertaken.”

    Over the last few years, Akshara Centre has worked tirelessly to empower women with their basic rights by providing solutions and initiatives that help them feel safe and secure. As a part of this initiative, Akshara has audited areas where women generally spend time or access despite feeling unsafe like college corridors, subways, railway stations, parks, footpaths, public toilets and initiated safety measures like cctv cameras, better lighting, security guards amongst many others.

    After speaking to women across demographics and age group the checklist is divided into physical features, social features and usage for the sake of convenience of analyzing the data. The manual gives insights into how an audit can be done, what measures can be taken by auditors in and around their neighborhood to classify it as safe for women.

    Dr. Shah further expressed that, it is a great collaboration with MAVIM and its thousands of saving and credit groups who have come together to be a ‘women’s safety auditors’. This campaign is driven with the motto of reaching women far and wide and encouraging them to access facilities without any restrictions or reservations.”

    The video for Safety Audit is available under the title Youth for a Safer City as a tool for safety walks that allows you to assess safety concerns in any public space and has effectively been used across many cities to create safe and inclusive cities.

  • Bollywood’s ace filmmaker Subhash Ghai felicitates winners of the India Skill competition from Design Skill Academy in Pune – Primex News Network

    Bollywood’s ace filmmaker Subhash Ghai felicitates winners of the India Skill competition from Design Skill Academy in Pune – Primex News Network

    Pune (Maharashtra) [India], May 11: Bollywood’s ace filmmaker Subhash Ghai felicitated five winners of the India Skills competition, the country’s biggest skill competition organised by the National Skill Development Corporation (NSDC) under the Ministry of Skill Development and Entrepreneurship (MSDE), in the categories of graphic design, animation, and 3D games at a ceremony organised by Design Skill Academy in Pune.

    Addressing a mammoth gathering, Subhash Ghai, chairman of Media and Entertainment Skill Council, and Whistling Woods said, “Students must widen their capacity of mind and must start thinking out of the box while creating their works of art. Only a few of the students get medals for their presentations because they think differently than the others. The success will follow if students have a different mindset and commitment to the work.”

    India Skills, the country’s biggest skill competition, is designed to demonstrate the highest standards of skilling and offers a platform to young people to showcase their talent at national and international levels. India Skills Competition—regional and national—is held every two years with the support of state governments, industry, Sector Skill Councils (SSCs), State Skill Development Missions (SSDMs), corporates, and partner institutes.

    Five students of Design Skill Academy won the gold, silver, and bronze medals at the India Skill—state and national–competitions. Pankaj Singh won the gold medal in the 3D digital game art, Utsav Singh, Steven Harris, and Vageesha Jain won Gold, Silver, and Bronze medals respectively in the Graphic Design Technology and Kimya Ghoman won Bronze Medal in the under 19 categories of the Graphic Design Technology.

    The felicitation ceremony was attended by Dr. Ashish Kulkarni, President, FICCI. AVGC and Founder Punnar Yug Art vision Pvt LTD, Mohit Soni CEO, Media and Entertainment Skills Council, Satish Narayanan, Founder of Design Skill Academy, and Director Sridevi Satish, and Industry Veterans.

    Satish Naraynan, founder of www.DesignSkills.com  Design Skill Academy said, “There is tremendous growth in the animation industry in the last five years. It has grown from 15 percent to 45 percent a year. Hollywood is also attracted to Indian talents for the animation work in their movies. But as compared to the demand there is a very low supply of skilled animators in India. Considering this we are participating in such competition to nourish the skills of our students and provide them an international platform to present their skills.”

    Dr. Ashish Kulkarni said, “There are various sports in the Olympics, not in the skills competition but the form of graphic design, animation, and 3D game design. To be successful in this competition, you need to be mentally and physically fit. Never deviate from the goal. Success is achieved through perfect planning. ”

    Sridevi Satish said, “We have been training our students since 2012 for the global competition. We won a bronze medal at the 2019 World Skills Championship in Kazan, Russia. It was a moment of great pride for the Indians. The students of Design Skills Academy have won gold, silver, and bronze medals in the India Skills and State Skills Competition this year. Our students are now qualified to represent India at the World Skills Competition to be held in Shanghai, China, in October 2022, and we are confident that they will be able to bring medals to India by excelling in this World Competition.”

  • BALCO taking strong strides to adopt high-end technology across business functions – Primex News Network

    BALCO taking strong strides to adopt high-end technology across business functions – Primex News Network

    Balconagar (India), May 11: Bharat Aluminium Company Limited (BALCO), India’s iconic aluminium producer, is undertaking strong measures to leverage technology and foster digitalization across business verticals to maximize operational excellence, in line with its vision of contributing to the development of nation holistically.

    Speaking on BALCO’s vision and manufacturing prowess Mr. Abhijit Pati, CEO and Director, BALCO, said, “The safety and security of our people and assets are of paramount importance to us. BALCO has been one of the early adopters in India to explore the field of smart technologies in its operational set-up. These investments and skills further bolster the culture of safety and productivity that we have meticulously fostered across the organization. The technology driven endeavors are helping to create a future-ready organization that manufactures aluminium for a self-reliant India.”

    BALCO has extensively deployed technologies for bolstering safety across business units. Suraksha Sankalp Kutumbh is the company’s umbrella project for digital transformation of safety. The project entails five modules namely Augmented/Virtual/Mixed Reality Training Centre, Video Analytics, Sustainability Mobile App, E-learning course on Safety Modules for Competency Building, and Digitalization of Workforce Connectivity, aimed at skill development, auto detection of unsafe acts and conditions, driving digital safety culture & safety interactions, work force safety, productivity improvement and tracking of red zones.

    To bolster its security system, BALCO has launched an automated and highly sophisticated Centralised Security Operations Centre (CSOC). Deployment of CSOC enables BALCO’s Security, Traffic Safety and Supply Chain Security functions to leverage digital intelligence and data insights for better and agile decision making.

    For integrating smart automation in its plant operations and to cease any manual intervention, BALCO has set up end-to-end Digital Dashboards for real-time data and trend monitoring of various business operations through different projects. For example, ‘Hot Spot Detection System for Coal Yard Using Thermal Image Processing’ offers thermal inspection of coal yard to capture hot spots and raise real-time alarm. Another project for ‘Boiler Tube Leakage Prediction Using AI/ML Pulse Edge’ offers a more reliable and evidential method of prediction analysis of Boiler Thermal Profile, to detect and give warning in advance about leakages.

    Similarly, BALCO’s HR function has embarked on a digital transformation initiative to build next generation workspace focused on streamlining its HR processes. This project, known as ‘V-Aikyam’, is being deployed across all Vedanta group companies’ aims to bring together the entire employee life cycle in a single platform. BALCO is committed to undertake initiatives continually with the goal of contributing towards building a technology driven India.

  • LANXESS Q1 sales up 43.7 percent to EUR 2.432 billion – Primex News Network

    LANXESS Q1 sales up 43.7 percent to EUR 2.432 billion – Primex News Network

    Mumbai (Maharashtra) [India], May 11: Specialty Chemicals company LANXESS made a strong start to the year 2022. In the first quarter of 2022, EBITDA pre exceptionals increased considerably and amounted to EUR 320 million, 32.2 percent higher than the previous year’s figure of EUR 242 million. All the company’s segments contributed to the growth, with the Specialty Additives segment performing particularly well. LANXESS passed on the significantly increased raw material and energy costs via higher selling prices. The successful acquisitions, especially that of Emerald Kalama Chemical, likewise made a positive earnings contribution. The EBITDA margin pre exceptionals came to 13.2 percent, against 14.3 percent a year ago.

    Group sales amounted to EUR 2.432 billion in the first quarter, up 43.7 percent on the previous year’s figure of EUR 1.693 billion. Net income reached EUR 98 million, after net income from continuing operations of EUR 63 million in the previous year.

    LANXESS is also confident going into the second quarter, in which the Group expects EBITDA pre exceptionals of between EUR 280 million and EUR 350 million. In the prior-year quarter, the company had generated EUR 277 million. For the full year, LANXESS still expects EBITDA pre exceptionals to be significantly higher than in the previous year. However, the guidance does not take into account potential further impacts of the war in Ukraine and the contribution of the acquisition of IFF’s Microbial Control business. The transaction is expected to close in the third quarter.

    “With our focus on specialty chemicals, we have built up strong market positions in recent years, which are particularly paying off in the current situation. We can thus pass on higher raw material and energy costs via our selling prices. However, it is impossible to predict the impact of the war in Ukraine on future business performance. We are therefore monitoring the further developments very closely,” said Matthias Zachert, Chairman of the Board of Management of LANXESS AG.

  • Overwhelming response received to Asian Granito India Limited’s Rs. 441 crores Rights Issue; Issue oversubscribes – Primex News Network

    Overwhelming response received to Asian Granito India Limited’s Rs. 441 crores Rights Issue; Issue oversubscribes – Primex News Network

    Mr Kamlesh Patel, CMD and Mr Mukesh Patel, MD, Asian Granito India Ltd

    Largest ever Rights Issue by an Indian Ceramic Company of Rs. 441 crores;

    Receives Bids for 8.89 crore shares against 6.99 crore shares offered in the Rights Issue; Public portion of the Rights Issue subscribed more than 1.38 times.

    Rights Issue proceeds to be utilised to fund Strategic Mega Expansion Plans in the Value Added Segments and various Strategic Initiatives;

    Pantomath Capital Advisors Private Limited acted as the Sole Lead Manager to this Rights Issue

    Ahmedabad, May 10, 2022: Asian Granito India Limited (AGL) today announced that its Rights Issue of Rs. 441 crores, largest ever by any Ceramic Company in India, achieved successful closure, receiving overwhelming response from the shareholders and investors despite challenging times. The public portion of the Rights Issue was subscribed more than 1.38 times receiving bids for 6.87 crore shares or Rs. 432 crores of bids received. On an overall basis, the Company received bids for over 8.89 crore shares or Rs. 561 crores of bids in the Rights Issue on the closing date (May 10) against 6.99 crore shares or Rs. 441 crores offered, representing more than 127% subscription.

    The allotment of equity shares will take place on or about 19th May, 2022. The Rights shares are expected to be listed on the BSE and NSE on or around 24th May, 2022.

    Equity shares in the Rights Issue were offered at a price of Rs. 63 per share. The Rights Entitlement Ratio for the Rights Issue was 37:30 (37 Rights Equity Shares of Rs. 10 each for every 30 equity shares of Rs. 10 each held by the equity shareholders on the record date). The Rights Issue of the Company was open for subscription from April 25, 2022 till May 10, 2022. The proceeds of the Rights Issue would be utilised to fund the Strategic Mega Expansion Plans in Value Added Luxury Surfaces & Bathware Segments including GVT Tiles, Sanitaryware and SPC Flooring etc. and to fund various strategic initiatives.

    The Company had launched a highly innovative campaign to create awareness about the Rights Issue, using broad-based and multiple means of communication. These included television, print, digital and social media, emails and SMSs to reach out to the shareholders. The Rights Entitlement (RE) was actively traded in demat form on the stock exchanges since SEBI introduced this platform and it was a resounding success reflecting broad-based interest in the Rights Issue.

    Commenting on the success of the Rights Issue, Shri Kamlesh Patel, Chairman and Managing Director, Asian Granito India Ltd said, “I express my gratitude and sincere thanks to our dear and esteemed shareholders and investors for their support and participation in the Rights Issue. With all your support in these challenging times, the Rights Issue witnessed subscription of more than 1.27 times. We are delighted and humbled by their extraordinary show of confidence in the future of AGL.

    Shri Patel added, “Our Industry is witnessing tremendous growth in both domestic and exports markets and has grown at the highest pace globally in past five years, thanks to the growing demand for the value added surfaces and bathware, favourable government initiatives and policies and big push to housing and infra. Company’s Enhanced Strategic Integration Programme (ESIP) is targeted to expand the margins and place the Company further up in the league table of Luxury Surfaces and Bathware Solutions Players and this Rights Issue is a Mega Step towards the vision to achieve Rs. 6,000 crores in topline in medium to long term.”

    The Promoter & Promoter Group shareholders of AGL had participated in the Rights Issue for their full entitlement of 28.99% shareholding in the Company. Post completion of the Rights Issue, total outstanding equity shares of the Company would increase to 12,67,45,316 from 5,67,51,634 equity shares as on March 31, 2022.

    Pantomath Capital Advisors Private Limited acted as the Sole Lead Manager to this Rights Issue.

    New entities incorporated for Expansion:-

    Future Ceramic Pvt Ltd – FCPL (wholly owned subsidiary of AGL) to manufacture Value Added Large Format Glazed Vitrified Tiles (GVT) in 1200×1200 mm, 1200×1800 mm, 1200×2400 mm, 800×1600 mm and 800×2400 mm formats. To capture the vast opportunities in the GVT space, FCPL is setting up a new manufacturing facility at Morbi, Gujarat with an installed capacity of 5.94 million sq. mtrs. per annum. Total estimated cost for setting up the new manufacturing unit in FCPL is around Rs. 174 crores.

    AGL Sanitaryware Pvt Ltd – ASWPL (wholly owned subsidiary of AGL) plans to establish in-house manufacturing unit of Sanitaryware products. Currently, AGL deals in a range of Sanitaryware products, manufactured through third party manufacturers and imported from outside India, and are marketed under AGL Brand. To strengthen and               scale up the Sanitaryware segment, the Group is setting up manufacturing facility at Morbi, with an installed capacity of 0.66 million pieces per annum. Estimated cost for setting up the proposed new unit is around Rs. 46 crores.

    AGL Surfaces Pvt Ltd – ASFPL (a wholly owned subsidiary of AGL) to manufacture innovative new age Stone Plastic Composite (SPC) flooring. ASFPL is incorporated as part of the Company’s strategy to expand product portfolio and presence in high growth oriented export markets through value added offerings. The manufacturing facility is proposed to be set up at Morbi with an installed capacity of 2.97 million sq. mtrs. of flooring per annum. Total estimated cost for setting up the new manufacturing unit in ASFPL is around Rs. 33 crores.

    The Company is also setting up one of the World’s largest display centre at India’s Ceramic Tiles hub – Morbi, Gujarat to showcase AGL Group’s entire product range under single roof i.e. Tiles, Sanitaryware,  Bathware, Quartz & Engineered Marble, SPC, etc. The five storey display centre is conceptualised in 1.5 lakh square feet of area and aims to showcase AGL Group’s production, technological excellence and best in class sourcing caliber at single place and is also expected to enhance Company’s brand and reach. Total estimated cost for setting up the Display Centre is around Rs. 40 crores. The Company currently exports to more than 100 countries and planning to expand to 120 plus countries. Company targets to increase its retail touch points to over 10,000, expand exclusive showrooms to over 500.

    The Net Proceeds of the Rights Issue would be utilised for the above Projects. Additionally, the Company also proposes to deploy the proceeds of the Rights Issue for General Corporate Purposes including funding other strategic initiatives, debt reduction in group, brand building and strengthening, marketing activities, and ongoing general corporate exigencies.

    Established in the year 2000, Asian Granito India Ltd. (AGL) has emerged as India’s leading Luxury Surfaces and Bathware Solutions brand in a short span of two decades. The Company manufactures and markets a wide range of Tiles, Engineered Marble and Quartz, Sanitaryware and Faucets. AGL products are synonymous with reliability, adaptability, innovation, quality consciousness and the Company has created a strong brand identity, well recognized globally and loyal customer following across segments.

    Ranked amongst the top ceramic tiles companies in India, AGL has achieved nearly 40 times growth in its production capacity, from 2,500 square meters per day in the year 2000 to 98,000 + square meters per day, as on date. AGL is also the only tiles Company to be acknowledged in the Vibrant Gujarat Summit 2015 for achieving phenomenal growth.

    The Company has 9 state-of-the-art manufacturing units spread across Gujarat and 311 exclusive showrooms, 12 display centers across India. Further, the Company has an extensive marketing and distribution network pan India as well as in export markets.

    The Company looks to strengthen its identity as the leader in the Indian Luxury Surfaces and Bathware industry by consistently introducing innovative and value-added products in the market to keep pace with its valued customers. Headquartered at Ahmedabad, AGL is listed on NSE & BSE and reported net consolidated turnover of Rs. 1,292.3 crores in 2020-21. Company exports to more than 100 countries. (For more information, please visit: www.aglasiangranito.com)

  • Overwhelming response received to Asian Granito India Limited’s Rs. 441 crores Rights Issue; Issue oversubscribes

    Overwhelming response received to Asian Granito India Limited’s Rs. 441 crores Rights Issue; Issue oversubscribes

    Read Time:7 Minute, 0 Second

    Mr Kamlesh Patel, CMD and Mr Mukesh Patel, MD, Asian Granito India Ltd

    Largest ever Rights Issue by an Indian Ceramic Company of Rs. 441 crores;

    Receives Bids for 8.89 crore shares against 6.99 crore shares offered in the Rights Issue; Public portion of the Rights Issue subscribed more than 1.38 times.

    Rights Issue proceeds to be utilised to fund Strategic Mega Expansion Plans in the Value Added Segments and various Strategic Initiatives;

    Pantomath Capital Advisors Private Limited acted as the Sole Lead Manager to this Rights Issue

    Ahmedabad, May 10, 2022: Asian Granito India Limited (AGL) today announced that its Rights Issue of Rs. 441 crores, largest ever by any Ceramic Company in India, achieved successful closure, receiving overwhelming response from the shareholders and investors despite challenging times. The public portion of the Rights Issue was subscribed more than 1.38 times receiving bids for 6.87 crore shares or Rs. 432 crores of bids received. On an overall basis, the Company received bids for over 8.89 crore shares or Rs. 561 crores of bids in the Rights Issue on the closing date (May 10) against 6.99 crore shares or Rs. 441 crores offered, representing more than 127% subscription.

    The allotment of equity shares will take place on or about 19th May, 2022. The Rights shares are expected to be listed on the BSE and NSE on or around 24th May, 2022.

    Equity shares in the Rights Issue were offered at a price of Rs. 63 per share. The Rights Entitlement Ratio for the Rights Issue was 37:30 (37 Rights Equity Shares of Rs. 10 each for every 30 equity shares of Rs. 10 each held by the equity shareholders on the record date). The Rights Issue of the Company was open for subscription from April 25, 2022 till May 10, 2022. The proceeds of the Rights Issue would be utilised to fund the Strategic Mega Expansion Plans in Value Added Luxury Surfaces & Bathware Segments including GVT Tiles, Sanitaryware and SPC Flooring etc. and to fund various strategic initiatives.

    The Company had launched a highly innovative campaign to create awareness about the Rights Issue, using broad-based and multiple means of communication. These included television, print, digital and social media, emails and SMSs to reach out to the shareholders. The Rights Entitlement (RE) was actively traded in demat form on the stock exchanges since SEBI introduced this platform and it was a resounding success reflecting broad-based interest in the Rights Issue.

    Commenting on the success of the Rights Issue, Shri Kamlesh Patel, Chairman and Managing Director, Asian Granito India Ltd said, “I express my gratitude and sincere thanks to our dear and esteemed shareholders and investors for their support and participation in the Rights Issue. With all your support in these challenging times, the Rights Issue witnessed subscription of more than 1.27 times. We are delighted and humbled by their extraordinary show of confidence in the future of AGL.

    Shri Patel added, “Our Industry is witnessing tremendous growth in both domestic and exports markets and has grown at the highest pace globally in past five years, thanks to the growing demand for the value added surfaces and bathware, favourable government initiatives and policies and big push to housing and infra. Company’s Enhanced Strategic Integration Programme (ESIP) is targeted to expand the margins and place the Company further up in the league table of Luxury Surfaces and Bathware Solutions Players and this Rights Issue is a Mega Step towards the vision to achieve Rs. 6,000 crores in topline in medium to long term.”

    The Promoter & Promoter Group shareholders of AGL had participated in the Rights Issue for their full entitlement of 28.99% shareholding in the Company. Post completion of the Rights Issue, total outstanding equity shares of the Company would increase to 12,67,45,316 from 5,67,51,634 equity shares as on March 31, 2022.

    Pantomath Capital Advisors Private Limited acted as the Sole Lead Manager to this Rights Issue.

    New entities incorporated for Expansion:-

    Future Ceramic Pvt Ltd – FCPL (wholly owned subsidiary of AGL) to manufacture Value Added Large Format Glazed Vitrified Tiles (GVT) in 1200×1200 mm, 1200×1800 mm, 1200×2400 mm, 800×1600 mm and 800×2400 mm formats. To capture the vast opportunities in the GVT space, FCPL is setting up a new manufacturing facility at Morbi, Gujarat with an installed capacity of 5.94 million sq. mtrs. per annum. Total estimated cost for setting up the new manufacturing unit in FCPL is around Rs. 174 crores.

    AGL Sanitaryware Pvt Ltd – ASWPL (wholly owned subsidiary of AGL) plans to establish in-house manufacturing unit of Sanitaryware products. Currently, AGL deals in a range of Sanitaryware products, manufactured through third party manufacturers and imported from outside India, and are marketed under AGL Brand. To strengthen and               scale up the Sanitaryware segment, the Group is setting up manufacturing facility at Morbi, with an installed capacity of 0.66 million pieces per annum. Estimated cost for setting up the proposed new unit is around Rs. 46 crores.

    AGL Surfaces Pvt Ltd – ASFPL (a wholly owned subsidiary of AGL) to manufacture innovative new age Stone Plastic Composite (SPC) flooring. ASFPL is incorporated as part of the Company’s strategy to expand product portfolio and presence in high growth oriented export markets through value added offerings. The manufacturing facility is proposed to be set up at Morbi with an installed capacity of 2.97 million sq. mtrs. of flooring per annum. Total estimated cost for setting up the new manufacturing unit in ASFPL is around Rs. 33 crores.

    The Company is also setting up one of the World’s largest display centre at India’s Ceramic Tiles hub – Morbi, Gujarat to showcase AGL Group’s entire product range under single roof i.e. Tiles, Sanitaryware,  Bathware, Quartz & Engineered Marble, SPC, etc. The five storey display centre is conceptualised in 1.5 lakh square feet of area and aims to showcase AGL Group’s production, technological excellence and best in class sourcing caliber at single place and is also expected to enhance Company’s brand and reach. Total estimated cost for setting up the Display Centre is around Rs. 40 crores. The Company currently exports to more than 100 countries and planning to expand to 120 plus countries. Company targets to increase its retail touch points to over 10,000, expand exclusive showrooms to over 500.

    The Net Proceeds of the Rights Issue would be utilised for the above Projects. Additionally, the Company also proposes to deploy the proceeds of the Rights Issue for General Corporate Purposes including funding other strategic initiatives, debt reduction in group, brand building and strengthening, marketing activities, and ongoing general corporate exigencies.

    Established in the year 2000, Asian Granito India Ltd. (AGL) has emerged as India’s leading Luxury Surfaces and Bathware Solutions brand in a short span of two decades. The Company manufactures and markets a wide range of Tiles, Engineered Marble and Quartz, Sanitaryware and Faucets. AGL products are synonymous with reliability, adaptability, innovation, quality consciousness and the Company has created a strong brand identity, well recognized globally and loyal customer following across segments.

    Ranked amongst the top ceramic tiles companies in India, AGL has achieved nearly 40 times growth in its production capacity, from 2,500 square meters per day in the year 2000 to 98,000 + square meters per day, as on date. AGL is also the only tiles Company to be acknowledged in the Vibrant Gujarat Summit 2015 for achieving phenomenal growth.

    The Company has 9 state-of-the-art manufacturing units spread across Gujarat and 311 exclusive showrooms, 12 display centers across India. Further, the Company has an extensive marketing and distribution network pan India as well as in export markets.

    The Company looks to strengthen its identity as the leader in the Indian Luxury Surfaces and Bathware industry by consistently introducing innovative and value-added products in the market to keep pace with its valued customers. Headquartered at Ahmedabad, AGL is listed on NSE & BSE and reported net consolidated turnover of Rs. 1,292.3 crores in 2020-21. Company exports to more than 100 countries. (For more information, please visit: www.aglasiangranito.com)

    About Post Author


    RNT Reporter


    dhaval.rntoday@gmail.com

    https://republicnewstoday.com

    The post Overwhelming response received to Asian Granito India Limited’s Rs. 441 crores Rights Issue; Issue oversubscribes appeared first on Republic News Today.

  • LANXESS Q1 sales up 43.7 percent to EUR 2.432 billion

    LANXESS Q1 sales up 43.7 percent to EUR 2.432 billion

    Read Time:1 Minute, 39 Second

    Mumbai (Maharashtra) [India], May 11: Specialty Chemicals company LANXESS made a strong start to the year 2022. In the first quarter of 2022, EBITDA pre exceptionals increased considerably and amounted to EUR 320 million, 32.2 percent higher than the previous year’s figure of EUR 242 million. All the company’s segments contributed to the growth, with the Specialty Additives segment performing particularly well. LANXESS passed on the significantly increased raw material and energy costs via higher selling prices. The successful acquisitions, especially that of Emerald Kalama Chemical, likewise made a positive earnings contribution. The EBITDA margin pre exceptionals came to 13.2 percent, against 14.3 percent a year ago.

    Group sales amounted to EUR 2.432 billion in the first quarter, up 43.7 percent on the previous year’s figure of EUR 1.693 billion. Net income reached EUR 98 million, after net income from continuing operations of EUR 63 million in the previous year.

    LANXESS is also confident going into the second quarter, in which the Group expects EBITDA pre exceptionals of between EUR 280 million and EUR 350 million. In the prior-year quarter, the company had generated EUR 277 million. For the full year, LANXESS still expects EBITDA pre exceptionals to be significantly higher than in the previous year. However, the guidance does not take into account potential further impacts of the war in Ukraine and the contribution of the acquisition of IFF’s Microbial Control business. The transaction is expected to close in the third quarter.

    “With our focus on specialty chemicals, we have built up strong market positions in recent years, which are particularly paying off in the current situation. We can thus pass on higher raw material and energy costs via our selling prices. However, it is impossible to predict the impact of the war in Ukraine on future business performance. We are therefore monitoring the further developments very closely,” said Matthias Zachert, Chairman of the Board of Management of LANXESS AG.

    About Post Author


    RNT Reporter


    dhaval.rntoday@gmail.com

    https://republicnewstoday.com

    The post LANXESS Q1 sales up 43.7 percent to EUR 2.432 billion appeared first on Republic News Today.

  • BALCO taking strong strides to adopt high-end technology across business functions

    BALCO taking strong strides to adopt high-end technology across business functions

    Read Time:2 Minute, 10 Second

    Balconagar (India), May 11: Bharat Aluminium Company Limited (BALCO), India’s iconic aluminium producer, is undertaking strong measures to leverage technology and foster digitalization across business verticals to maximize operational excellence, in line with its vision of contributing to the development of nation holistically.

    Speaking on BALCO’s vision and manufacturing prowess Mr. Abhijit Pati, CEO and Director, BALCO, said, “The safety and security of our people and assets are of paramount importance to us. BALCO has been one of the early adopters in India to explore the field of smart technologies in its operational set-up. These investments and skills further bolster the culture of safety and productivity that we have meticulously fostered across the organization. The technology driven endeavors are helping to create a future-ready organization that manufactures aluminium for a self-reliant India.”

    BALCO has extensively deployed technologies for bolstering safety across business units. Suraksha Sankalp Kutumbh is the company’s umbrella project for digital transformation of safety. The project entails five modules namely Augmented/Virtual/Mixed Reality Training Centre, Video Analytics, Sustainability Mobile App, E-learning course on Safety Modules for Competency Building, and Digitalization of Workforce Connectivity, aimed at skill development, auto detection of unsafe acts and conditions, driving digital safety culture & safety interactions, work force safety, productivity improvement and tracking of red zones.

    To bolster its security system, BALCO has launched an automated and highly sophisticated Centralised Security Operations Centre (CSOC). Deployment of CSOC enables BALCO’s Security, Traffic Safety and Supply Chain Security functions to leverage digital intelligence and data insights for better and agile decision making.

    For integrating smart automation in its plant operations and to cease any manual intervention, BALCO has set up end-to-end Digital Dashboards for real-time data and trend monitoring of various business operations through different projects. For example, ‘Hot Spot Detection System for Coal Yard Using Thermal Image Processing’ offers thermal inspection of coal yard to capture hot spots and raise real-time alarm. Another project for ‘Boiler Tube Leakage Prediction Using AI/ML Pulse Edge’ offers a more reliable and evidential method of prediction analysis of Boiler Thermal Profile, to detect and give warning in advance about leakages.

    Similarly, BALCO’s HR function has embarked on a digital transformation initiative to build next generation workspace focused on streamlining its HR processes. This project, known as ‘V-Aikyam’, is being deployed across all Vedanta group companies’ aims to bring together the entire employee life cycle in a single platform. BALCO is committed to undertake initiatives continually with the goal of contributing towards building a technology driven India.

    About Post Author


    RNT Reporter


    dhaval.rntoday@gmail.com

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    The post BALCO taking strong strides to adopt high-end technology across business functions appeared first on Republic News Today.

  • Founder of advertiCe, Mayur Sethi gets Emirates Award of Excellence in Dubai along with Doctorate in Digital Transformation – Primex News Network

    Founder of advertiCe, Mayur Sethi gets Emirates Award of Excellence in Dubai along with Doctorate in Digital Transformation – Primex News Network

    Dubai (UAE), May 11: The reputed Emirates Award of Excellence recognizes extraordinary talent & commitment demonstrated by beacons of excellence in their respective field. Sethi is being rewarded with this award for his contribution to the field of programmatic advertising.

    advertiCe, a self-serve media planning and buying platform that was incepted to bring about a revolution in the programmatic advertising industry. Since the launch of the platform in 2020, Sethi has worked with brands like Tata Motors, Voltas, HDFC Bank, Dr. Reddys, Dell, OnePlus, Canara Bank, Amazon Prime, and many more.

    Sethi’s professional journey involves multiple achievements and he prides himself on being a serial entrepreneur and believes in being a catalyst in bringing about a revolution in the start-up world. With the intent of placing India on the start-up map, Sethi spends his day strategizing how he wishes to innovate the way brands cater to their audience. And this intent and his journey which spans over 15 years made him the perfect fit for the Champions of Changemaker award, which he won in April in the category of Innovation. One of the most treasured accomplishments of Sethi. His motive behind launching advertiCe is to help brands think and reach beyond Google and Facebook.

    Sethi with his team started by targeting Tier 1 cities, entrepreneurs/start-ups, and SMEs and has the vision of expanding across South Asian countries.

    advertiCe, says Mayur Sethi, whose acclamations also include being featured in Forbes, 40 under 40 lists, 50 under 50, and the Philip Kotler Presidential Award by World Marketing Summit, is the new revolution in the Programmatic Advertising.

    As we asked Sethi about how has life changed over the years and with each of these accolades, he spontaneously expressed his gratitude. He also shared that, he has always wanted to create value through his work, and this latest feather in the hand, the Emirates Award is a sign that his work is being recognized beyond his country.

    When he started his journey over 15 years back, he had one vision in his mind, to leave behind a legacy for not just his family but the industry as a whole and that is what he wakes up with every single day.

    “I am proud of my journey so far and guess what, this is just the beginning, I dedicate this award to the Honest efforts been put by Hon. Prime Minister Shri Narendra Modi and StartUp India” he says, feeling all elated and happy!

  • Founder of advertiCe, Mayur Sethi gets Emirates Award of Excellence in Dubai along with Doctorate in Digital Transformation

    Founder of advertiCe, Mayur Sethi gets Emirates Award of Excellence in Dubai along with Doctorate in Digital Transformation

    Read Time:2 Minute, 4 Second

    Dubai (UAE), May 11: The reputed Emirates Award of Excellence recognizes extraordinary talent & commitment demonstrated by beacons of excellence in their respective field. Sethi is being rewarded with this award for his contribution to the field of programmatic advertising.

    advertiCe, a self-serve media planning and buying platform that was incepted to bring about a revolution in the programmatic advertising industry. Since the launch of the platform in 2020, Sethi has worked with brands like Tata Motors, Voltas, HDFC Bank, Dr. Reddys, Dell, OnePlus, Canara Bank, Amazon Prime, and many more.

    Sethi’s professional journey involves multiple achievements and he prides himself on being a serial entrepreneur and believes in being a catalyst in bringing about a revolution in the start-up world. With the intent of placing India on the start-up map, Sethi spends his day strategizing how he wishes to innovate the way brands cater to their audience. And this intent and his journey which spans over 15 years made him the perfect fit for the Champions of Changemaker award, which he won in April in the category of Innovation. One of the most treasured accomplishments of Sethi. His motive behind launching advertiCe is to help brands think and reach beyond Google and Facebook.

    Sethi with his team started by targeting Tier 1 cities, entrepreneurs/start-ups, and SMEs and has the vision of expanding across South Asian countries.

    advertiCe, says Mayur Sethi, whose acclamations also include being featured in Forbes, 40 under 40 lists, 50 under 50, and the Philip Kotler Presidential Award by World Marketing Summit, is the new revolution in the Programmatic Advertising.

    As we asked Sethi about how has life changed over the years and with each of these accolades, he spontaneously expressed his gratitude. He also shared that, he has always wanted to create value through his work, and this latest feather in the hand, the Emirates Award is a sign that his work is being recognized beyond his country.

    When he started his journey over 15 years back, he had one vision in his mind, to leave behind a legacy for not just his family but the industry as a whole and that is what he wakes up with every single day.

    “I am proud of my journey so far and guess what, this is just the beginning, I dedicate this award to the Honest efforts been put by Hon. Prime Minister Shri Narendra Modi and StartUp India” he says, feeling all elated and happy!

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    The post Founder of advertiCe, Mayur Sethi gets Emirates Award of Excellence in Dubai along with Doctorate in Digital Transformation appeared first on Republic News Today.