Category: Press Release

Mumbai (Maharashtra) [India], August 29: Board of directors of Mumbai-based Vaishali Pharma Ltd (NSE – VAISHALI) has recommended issue of bonus equity shares in the ratio of 1:1 (1 Bonus share equity for every 1 equity share held in the company as on the record date) in the meeting held on August 28, 2024 along with stock split, subject to necessary regulatory and shareholders’ approvals. Company approved sub-division of 1 equity share of Rs. 10 face value into five equity shares of Rs. 2 face value each. The bonus issue is aimed at reward existing shareholders, enhance liquidity, and expand the shareholder base.

The board also considered proposal for raising of fund by way of equity shares, debentures or other securities through rights issue, private placement, qualified institutions placement (QIP), preferential issue or any other method.

Catering to semi-regulated and non-regulated markets across the world, the company had recently obtained 19 registrations across Southern Africa, West Africa, the Gulf region, Latin America and ASEAN region. These registrations are poised to contribute around Rs. 100 million to the company’s annual revenue.

Backed by strong product portfolio and distribution network, the Company had reported robust financial performance for Q1FY25. For the quarter ended on June 30, 2024, the Company’s sales increased by 34.70% to Rs 18.08 crore in Q1FY25 compared to Rs 13.42 crore during Q1FY24. Net Profit of the company rose 7.13% to Rs 1.70 crore as against Rs 1.59 crore during the previous quarter ended June 2023.

 Highlights

• Bonus issue is aimed at to reward existing shareholders, enhance liquidity, and expand the shareholder base.
• Consideration of stock split and bonus shares are in line with the company’s vision to reward the shareholders and earn their long-lasting trust and confidence
• Company had recently obtained 19 registrations across Southern Africa, West Africa, the Gulf region, Latin America etc, expected to contribute around Rs. 100 million to the company’s annual revenue.
• Mumbai-based pharma company has over 250 + formulation brands marketed in multiple countries and a robust pipeline of around 250 Dossiers

Commenting on the development, Mr. Atul Vasani, Chairman and Managing Director, Vaishali Pharma Ltd said, “We are proud to inform our stakeholders that the company is making significant strides in its long-term growth strategy, delivering excellent operational and financial results. Consideration of stock split and bonus shares are in line with the company’s vision to reward the shareholders and earn their long-lasting trust and confidence. This move will not only reward our existing shareholders for their continued support but also increase the company’s equity base, thereby enhancing liquidity. With a focus on growth and innovation, the company is making its mark through strategic initiatives, promising to become a significant presence in the evolving pharmaceutical sector.”

Established in 1989, Vaishali Pharma Limited specializes in the production and marketing of a diverse range of pharmaceutical products, including APIs, formulations, surgical products, veterinary supplements, herbal items, nutraceuticals, and oncology products. Their portfolio serves both human and animal healthcare needs. The company has over 250 + formulation brands marketed in multiple countries and a robust pipeline of around 250 Dossiers. The company’s synergistic collaboration with WHO-GMP manufacturing facilities is backed by an excellent rapport with clients.  Company is one of the fastest-growing and most versatile company in the pharmaceutical industry. It has a strong presence in both the domestic and export markets and is currently supplying to all leading Indian and international companies.

As an emerging force, Vaishali Pharma is poised to contribute substantially to the pharmaceutical landscape in India. The company had recently announced the launch of its new brand “HealthE” for local online market. The first product in this lineup is HealthE Biotin and Multivitamin Gummies is a revolutionary product designed to enhance hair, skin, and overall health. These delectable gummies combine the power of biotin, essential vitamins, and natural extracts to support hair growth, promote radiant skin, and boost overall vitality. All the products launched are backed by food scientist. This exciting development is a testament to the company’s ongoing commitment to delivering health and wellness solutions that improve lives and promote lasting well-being. The company plans to add many more products in near future.

“Our venture into the Nutraceutical Products segment, in addition to our ongoing collaborations and alliances, is poised to serve as pivotal growth catalysts in the future. We eagerly anticipate the continuation of our journey towards excellence, with the utmost focus on delivering value to our stakeholders and making significant contributions to the enhancement of healthcare worldwide. Our unwavering dedication to innovation, commitment to maintaining high-quality standards, and the strategic expansion of our global footprint through valuable partnerships have been instrumental in driving our success”, added Mr. Vasani.

With a vision “To be a well-recognised Indian MNC in the pharmaceuticals and healthcare industry”, the company continue to work on its mission to contribute substantially towards well-being and health of the society by providing high quality products and service.

For more details, please visit: www.vaishalipharma.com

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New Delhi [India], August 29: Evera Cabs, a pioneering force in all-electric cab services in Delhi-NCR, proudly announces the appointment of Saurabh Kumar as an Independent Director. His role will be instrumental in driving the company’s mission to minimize carbon emissions and enhance customer satisfaction through his strategic oversight.

With over three decades of experience in sustainable energy and efficiency, Saurabh will ensure the company aligns with its strategic objectives and vision, while inducing robust governance practices and shaping green energy based mobility solutions. He will play a pivotal role in reinforcing Evera’s governance framework, ensuring ethical business conduct and compliance.

Commenting on his appointment, Mr. Saurabh Kumar, independent Director, Evera, said, “Urban mobility can enable reducing the growing carbon footprint without compromising on efficiency and convenience. The urgent need is to integrate sustainable energy solutions into transportation systems at scale, and that’s exactly where Evera is uniquely positioned. By addressing gaps in energy optimization and fleet efficiency, I aim to steer Evera towards innovative, actionable solutions. Together, we will not only expand our green mobility reach but also set new industry standards that meet both environmental and customer demands head-on.”

Welcoming Saurabh to the team, Mr. Nimish Trivedi, Founder and CEO, Evera said, “Saurabh’s deep expertise in sustainable energy and policy implementation is critical to Evera’s future plans. His strategic prowess will be instrumental in addressing the operational and environmental challenges of scaling electric fleets in a densely populated region like Delhi-NCR, where the need for sustainable urban mobility solutions is pressing. With Saurabh’s addition, we aim to strengthen technology infrastructure and enter new markets, thus solidifying our position as a leader in the electric mobility space.”

Saurabh Kumar is also the Vice President – India for the Global Energy Alliance for People and Planet (GEAPP). With over three decades of experience, he began his career began with the Indian Revenue Service (IRS), focusing on sensitive intelligence assignments, and further, held key positions in the Indian government, including the Union Ministry of Power and the Bureau of Energy Efficiency (BEE). Mr. Saurabh Kumar as Vice Chairperson & MD of Energy Efficiency Services Limited (EESL), successfully led the implementation of several key energy efficiency programs. Mr. Saurabh Kumar became the face of the country’s energy efficiency programmes after he spearheaded the world’s largest non-subsidised distribution programme of LED lamps under the ‘Unnat Jyoti by Affordable LEDs and Appliances for All’ (Ujala) scheme. He is a pioneer in EV industry & has been instrumental in driving large-scale energy efficiency programs and promoting sustainable energy initiatives across India. He holds a degree in Electrical Engineering from IIT Kanpur and a master’s in public policy from the National Graduate Institute for Policy Studies in Tokyo, Japan.

About Evera

Evera Cabs is an all-electric cab demand aggregator across Delhi-NCR, offering services such as airport transfer, rentals, and corporate transportation. Currently Evera’s e-taxi service operates in Delhi-NCR, with the aim to reduce the human carbon footprint, while enhancing customer experience, one ride at a time. Founded in 2019, Evera is an EV cab service provider for customers across B2C and B2B segments.

Accelerating the ecosystem for sustainable cab hailing transportation for the masses and corporates, Evera has secured its pre-Series A funding round of $3 million. IEG Investment Banking Group, Germany and Direct Capital- subsidiary of Devonshire Capital, Thailand came together in the closure of this round. In a short span, the brand has clocked 30+ million Green Kilometres across Delhi NCR.

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New Delhi [India], August 29: Aarthi Scans and Labs, a leading name in medical diagnostics, today announced the launch of its groundbreaking new unit, ‘Vital MRI.’ This innovative service offers comprehensive full body MRI scans at an affordable cost of ₹24,000, empowering individuals to take proactive steps towards their long-term health.

Vital Full Body MRI aims to detect potential health issues at their earliest stages, including early-stage cancers, aneurysms, spinal degeneration, disc bulges, and abnormalities in the brain, abdomen, and chest. The scans utilize cutting-edge technology to provide detailed, high-resolution images, enabling early diagnosis and intervention, thereby improving treatment outcomes.

Unique offerings of Vital MRI are – Brain volume analysis, Liver fat and Visceral fat quantification by MRI and Calcium scoring CT to assess heart attack risk. Brain volumetry analysis, generating a ‘Brain Age’ report that compares an individual’s brain health to their chronological age. This valuable insight can help individuals understand their cognitive well-being and take proactive measures to maintain brain health and prevent dementia.

Vital Full Body MRI is now available at all Aarthi Scans and Labs facilities across India in Delhi, Gurgaon, Mumbai, Pune, Bangalore, Hyderabad, Chennai, Kolkata and Trivandrum. Individuals can know more about the scan and book an appointment through the company’s website (vitalmri.com) or by calling their customer education line (96423 96422).

“Similar facilities are available in the US through providers like Prenuvo and Ezra, but we are proud to be the first to offer this level of comprehensive and affordable preventive scanning in India. Most cancers, when detected in stage I, have very good prognosis and can even be completely cured with modern treatments. With Vital MRI, we aim to empower individuals to take control of their health and detect potential issues before they become serious” said Dr Arunkumar Govindarajan, Radiologist and Executive Director of Aarthi Scans and Labs.

About Aarthi Scans and Labs

Aarthi Scans and Labs is one of India’s trusted and largest medical diagnostics provider with 36 years of healthcare experience. The vision of Aarthi Scans’ founder Mr.V.Govindarajan is “The cost to diagnose a disease should not make a patient poor, that their treatment becomes unaffordable”. With a commitment to excellence, innovation, and patient care, Aarthi Scans and Labs offers a wide range of diagnostic services, including imaging, pathology, and specialized tests.

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Nainital (Uttarakhand) [India], August 27: Nestled in the scenic town of Nainital, CenterCourt Sports Bar & Grill is far more than a culinary spot; it’s a unique fusion of sports enthusiasm, rich Himalayan flavors, and a tribal family’s long-standing dream. Founded in 2021 by Bhupendra Singh, a descendant of erstwhile Silk Route traders, this venture blends the family’s trading legacy with their passion for food, sports, and innovation.

For generations, their family traded Himalayan spices and goods across the Tibetan border. Bhupendra, however, envisioned something different—a vibrant sports-themed café that not only serves delicious meals but also celebrates the spirit of sportsmanship in Haldwani, a tier-3 town often overshadowed by its more famous tourist counterparts.

CenterCourt is designed to be a hub for sports lovers, where guests can indulge in a lively atmosphere filled with sports memorabilia, live screenings, and a curated menu inspired by both local and global flavors. Families, tourists, and locals alike can enjoy the best of both worlds—a place where sports meets socializing. The rooftop venue, overlooking the 180-degree view of the Nainital hills, provides the perfect backdrop for fans to cheer on their favorite teams while enjoying live music.

The café’s innovative approach to food is matched by its commitment to creating an all-inclusive sports experience. From weekend tournaments and game nights to live match screenings, CenterCourt seamlessly integrates sports into its DNA. The blend of Himalayan herbs and spices with popular game-day snacks offers a fresh take on comfort food, making it a favorite among those who come not just for the ambiance, but for the excitement that fills the air during major sports events.

Breaking the stereotype of restro-bars being inaccessible for families, CenterCourt has become a popular destination for all age groups, offering a cozy private dining lounge for those seeking a quieter retreat. Whether it’s catching a match or enjoying a casual meal, CenterCourt’s community-driven vibe brings people together under a shared love for sports.

As Uttarakhand’s largest rooftop sports café, CenterCourt is now ready to expand beyond Nainital. With its successful concept, the brand seeks partners who are as passionate about sports and hospitality as they are. The goal is to take this vibrant mix of tradition, taste, and sports culture nationwide, transforming the way people experience both food and entertainment in tier-3 towns.

CenterCourt isn’t just a dining spot; it’s a movement to redefine how sports and socializing blend seamlessly into modern café culture. As they gear up to expand, CenterCourt invites those who share their vision to join them in bringing this exciting concept to more corners of the country.

New Delhi [India], August 22: Leo Tune hearing aids are leading the charge in revolutionizing the landscape of over-the-counter (OTC) hearing aids by prioritizing affordability and accessibility for all individuals across India. With a steadfast dedication to bridging the gap between quality hearing solutions and financial constraints, Leo Tune Hearing Aids are emerging as a beacon of hope for those seeking not just improved hearing but a renewed sense of connection and empowerment.

Hearing Loss transcends mere physical impairment; it can profoundly impact an individual’s emotional well-being, social interactions, and overall quality of life. Understanding this, Leo Tune Hearing Aids are on a mission to provide more than just functional devices. Their range of OTC hearing aids doesn’t just amplify sound; they amplify life experiences and restore a sense of belonging in a world that thrives on communication.

What sets Leo Tune Hearing Aids apart is their unwavering commitment to user experience and innovation. Each hearing aid is meticulously designed to blend effectiveness with comfort and ease of use. The sleek, modern designs are complemented by intuitive controls and comprehensive instructions, ensuring that users can seamlessly integrate these aids into their daily lives. Additionally, a diverse array of accessories and replacement parts further enhance the longevity and functionality of each device, underscoring Leo Tune’s dedication to long-term customer satisfaction.

Leo Tune stands firm in its pledge to deliver exceptional value to its customers. In addition to competitive pricing and free nationwide shipping on all orders, Leo Tune offers a generous 07-day money-back guarantee, allowing customers to freely explore their options without hesitation. Furthermore, every product is backed by a robust one-year warranty, ensuring customer investments are protected against unforeseen circumstances.

“At Leo Tune Hearing Aids, we firmly believe that clear communication should be a right, not a privilege,” says a company spokesperson. “Our vision goes beyond selling products; it encompasses a commitment to breaking down barriers and empowering individuals to rediscover the joys of hearing clearly and engaging fully with the world around them.”

In conclusion, Leo Tune is not just a brand; it’s a testament to inclusivity, innovation, and a relentless pursuit of excellence in the realm of affordable hearing solutions. For more information on Leo Tune Hearing Aids and its groundbreaking products, please visit website https://leotune.inor contact customer service team 9090414170.

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New Delhi [India], August 27: As per the ICMR-INDIAB (2023) study, 10 crore people in India suffer from diabetes, with an additional 13.6 crore people affected by pre-diabetes. This significant health concern positions India to become the diabetes capital of the world by 2030.

In response to this serious healthcare challenge, IPCA Laboratories Ltd proudly announces the launch of Diulcus®, a novel product aimed at addressing the challenges of Diabetic Foot Ulcer (DFU) in the Indian market. Diulcus®, developed by NovaLead Pharma Pvt Ltd, a pioneer in drug repurposing, represents a significant advancement in the management of DFU. The product has received approval from the Central Drugs Standard Control Organization (CDSCO) and was partially funded by the Biotechnology Industry Research Assistance Council (BIRAC), a Government of India enterprise.

The launch event was graced by esteemed personalities, including Sri. Ajit Jain, Dr A.P.S. Suri, Dr Achintya Sharma, Dr Anil Pareek, Sri Sunil Ghai, Sri. Supreet Deshpande.

During phase 3 trials in India, Diulcus® demonstrated remarkable efficacy, with a 60.3% ulcer closure rate within three months of treatment. Remarkably, patients continued to show an ulcer closure rate of 77.20% over six months, even after stopping treatment at three months. These results are among the best observed for any pharmaceutical preparation used in DFU treatment.

Sri. Ajit Jain, Managing Director of IPCA Laboratories Ltd, expressed his enthusiasm about the launch, stating, “With over 15% of diabetic patients suffering from DFU at least once in their lifetime, DFU is the most prevalent complication caused by chronic diabetes. The approval of this patented repurposed drug is significant because DFU is the leading cause of lower limb amputations globally. We are delighted to partner with NovaLead Pharma Pvt Ltd through an IP licensing arrangement to bring Diulcus® to DFU patients in India. It demonstrates IPCA’s commitment towards the patients suffering from unmet medical needs and its focus on diabetes therapy.”

Dr. A.P.S. Suri, Foot Care Specialist (Podiatrist), said, “With the launch of Diulcus®, we are writing a new chapter in the treatment of diabetic foot ulcers. This product can not only revolutionize the treatment of DFU but also help reduce the complications associated with it, such as amputation, infection, and long-term pain. Given the rising incidence of diabetic foot ulcers in India, this product will not only be an important tool for physicians but can also significantly improve the quality of life of patients. This product is effective in helping in healing diabetic ulcers, helping them heal faster and preventing amputation of the feet. I congratulate IPCA Laboratories Limited and NovaLead Pharma Private Limited for bringing this important innovation to the Indian market and hope that this product will become a ray of hope for millions of patients in our country.”

Diulcus® will be made available to DFU patients by IPCA Laboratories Ltd. (IPCA) through an exclusive IP licensing arrangement with NovaLead Pharma PVT LTD for the Indian Market beginning in August 2024.

For further details on the product, please consult your physician or write to savethefoot@ipca.com.

About Diabetic Foot Ulcer (DFU)

Over 537 million adults are living with diabetes globally, and the number is predicted to rise to 643 million by 2030. About 15% of diabetics suffer from DFU at least once in their lifetime, with 25% of DFUs eventually requiring amputation. DFU is a leading cause of lower extremity amputation. The five-year mortality post-amputation is 46%. DFU is a serious disease with very limited drug options and a very high cost of treatment.

About Diulcus® (Esmolol Ilydrochloride)

Diulcus® is a prescription medicine used to treat people with diabetic foot ulcer with no clinical infection. Infected DFUs need to be first treated for infection if existing and then put on Diulcus® treatment for wound closure. A doctor will perform independent assessment of DFU extent to determine the dose to be applied topically on the patient’s DFU. Treating clinicians are advised to refer to the full prescribing information of Diulcus®.

About IPCA Laboratories Ltd (IPCA)

IPCA is a fully integrated pharmaceutical company with a strong thrust on exports. IPCA is vertically integrated and produces Finished Dosage Forms (FDFs) and Active Pharmaceutical Ingredients (APIs).

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New Delhi [India] August 24: Oriental Trimex Ltd (BSE – 532817), a leading processor and trader of natural stones in India announces a series of strategic developments that are set to redefine its operational capabilities, expand its market presence, and solidify its financial standing. These initiatives underscore the company’s unwavering commitment to innovation, growth, and customer satisfaction.

Highlights:

Company announces significant debt reduction and path to become debt-free.

Company announces revolutionary leap forward for processing in the stone industry.

Company is coming up with a 21,000 sq ft showroom in the Building Materials Market in Greater Noida.

Secures Jet Black Granite Quarry in Orissa, Boosting Revenue and Profitability Prospects.

Expands Product Portfolio with Related Product Lines, Enhancing Customer Offerings.

1. Revolutionary Leap in Stone Processing with Wire-Based Gangsaw Machine

Oriental Trimex Limited is poised to revolutionize the stone industry with the importation and installation of a cutting-edge wire-based gangsaw machine, commonly referred to as a “Cable Machine for Slab Cutting.” This state-of-the-art technology, sourced from Changsha Beto New Material Technology Co. Ltd. in China, will be the first of its kind in India and is set to be installed at OTL’s plant in Gummidipoondi, near Chennai.

Unlike traditional gangsaws that utilize multiple blades, this advanced machine employs a series of diamond-coated cables with diameters of 0.4-0.6mm, enabling precise cuts and setting a new benchmark for accuracy and efficiency. With features such as pneumatic wire tensioning, hydraulic cylinder support, and bellow-protected linear rails, the wire-based gangsaw significantly reduces waste, enhances durability, and speeds up the cutting process by approximately three times compared to conventional machines.

This strategic investment, expected to be operational by December 2024, is a testament to OTL’s dedication to embracing innovative technologies that enhance operational excellence. It will allow the company to deliver unparalleled quality to its clients, particularly in the high-end residential and commercial construction segments.

2. Expansion in Greater Noida with a 21,000 Sq. Ft. Showroom

In a move to strengthen its market presence, Oriental Trimex Limited is excited to announce the upcoming launch of a sprawling 21,000 sq. ft. showroom in the building materials market at Site-4, Greater Noida. Strategically located in the heart of Gautam Budh Nagar District, this showroom-cum-warehouse is poised to become a one-stop destination for all flooring solutions.

Scheduled to be operational by the end of September 2024, the showroom will showcase an extensive range of finished marbles sourced from OTL’s state-of-the-art processing plant in Chennai. In addition, the company will procure high-quality granites from processors in Rajasthan and Southern India, ensuring a comprehensive portfolio of flooring solutions.

The location of this showroom is particularly strategic, given the upcoming Jewar Airport and the envisioned Aerocity in Greater Noida. These developments are expected to drive exponential growth in the region, and OTL is committed to catering to the increasing demands of the area. The company also plans to expand its footprint with a new showroom in Delhi, post-raising funds through a Right Issue, further reinforcing its position in the market.

3. Securing a 30-Year Lease for Jet Black Granite Quarry in Orissa

Oriental Trimex Limited is pleased to announce the securing of a 30-year lease for a Jet Black Granite Quarry spanning 12.260 acres (4.961 hectares) in Village Poteru, Malkangiri district, Orissa. This quarry, allocated by the Government of Orissa, is a significant addition to OTL’s portfolio, boasting a massive deposit of decorative stones and Jet Black-colored granite with substantial export potential.

The mining plan for the quarry has been approved by the state government, with an independent valuation by Er M K Mehta estimating the total mineral deposit value at approximately INR 258.77 crores. With the Environmental Clearance (EC) expected by November 2024, OTL plans to operationalize the quarry shortly thereafter. This development is expected to significantly boost the company’s revenue and profitability, further cementing its leadership in the natural stone industry.

4. Diversification of Product Portfolio 

In an effort to enhance its customer offerings and create new revenue streams, Oriental Trimex Limited announces plans to diversify its product portfolio by venturing into additional related product lines. Starting from December 2024, the company will introduce:

• Low-cost Indian granites
• Designed porcelain tiles in similar colors to imported marbles
• Nano stones from China
• Marble-designed quartz stones and quartzites

This expanded product mix will cater to a broader customer base, including various socioeconomic groups, and provide more options to suit different budgets. OTL’s strong sourcing abilities, deep understanding of local customer preferences, and established infrastructure will support the marketing of these new products. The company’s presence in Greater Noida and focus on Tier 2 and Tier 3 cities, particularly in Uttar Pradesh under the Central Government’s ‘Smart City’ plan, positions it for significant growth.

5. Significant Debt Reduction and Path to Becoming Debt-Free

Oriental Trimex Limited is pleased to announce a significant milestone in its financial journey. The company has successfully made a payment of INR 38.25 crores to Edelweiss Asset Reconstruction Company Limited (“Edelweiss ARC”) as part of a One-Time Settlement (“OTS”) agreement entered into on January 30, 2024. This payment has substantially reduced OTL’s debt obligations, putting the company on the path to becoming debt-free.

With only a nominal interest amount remaining, which is expected to be paid by September 2024, Oriental Trimex Limited is on the verge of achieving debt-free status. This development is expected to enhance the company’s credibility and reputation among stakeholders, further strengthening its position in the industry.

Disclaimer: This content is created by PNN and is for general information purposes only and should not be construed as professional advice. Readers should conduct their own research before making any decisions.

Ahmedabad (Gujarat) [India], August 27: Ahmedabad-based Aeron Composite Ltd, a leading company engaged in manufacturing and supply of fibreglass reinforced polymer products, is planning to raise up to Rs. 56.10 crores from its SME public issue. The company has received approval to launch its public issue on the NSE Emerge Platform of the National Stock Exchange. The public issue opens for subscription on August 28 and closes on August 30. Out of the proceeds of the public issue, Rs. 39 crores will be utilized to fund the capital expenditure requirements towards setting up a manufacturing unit at Mehsana, Gujarat and general corporate purposes. Hem Securities Ltd is the book-running lead manager of the issue.

The initial public offering of Rs. 56.10 crore comprises a fresh issue of 44.88 lakh equity shares of face value of Rs. 10 each. Company has finalized price band of Rs. 121-125 per equity share for the public issue. The minimum lot size for retail investors is 1,000 shares, amounting to a minimum investment of Rs 1,25,000 at the upper price band of Rs. 125 per share. Retail investor quota for the IPO is kept at not less than 35% of the net offer, HNI quota is kept at not less than 15% of the offer and QIB portion is kept at not more than 50% of the offer.

Aeron Composite Ltd

Issue Opens	Issue Price	Issue Closes
28 August, 2024	Rs. 121-125 Per Equity Share	30 August, 2024

Incorporated in year 2011, Aeron Composite Ltd is engaged in the business of manufacturing and supplying Fiber Glass Reinforce Polymer Products, i.e. FRP products, including FRP Pultruded Products, FRP Moulded Gratings & FRP Rods tailored for various industrial applications. FRP product is a composite material consisting of a polymer matrix (resins) reinforced with fibres such as fibreglass, carbon or aramid. This combination offers benefits, including corrosion resistance, chemical resistance, high strength, lightweight properties, electrical and thermal non-conductivity, and ease of fabrication. Company provides comprehensive solution which includes conceptual design, prototype development, testing, manufacturing, logistic support, installation and after sales service.

The company’s manufacturing facility, certified by ISO 9001:2015, is located in Saket Industrial Estate at Changodar, Ahmedabad and is spread over 26,320 square metres. The manufacturing facility is certified for the design, manufacture and supply of FRP pultruded products, FRP Handrails, FRP cable trays, FRP fencing, FRP moulded gratings, FRP Cross arm, FRP poles, FRP rods and module mounting structures for solar panels (MMS). Company exports to more than 30 countries

Key Financial Performance:                                                                    Figures in Rs. Crore

Period Ended	29 Feb 2024	31 Mar 2023	31 Mar 2022	31 Mar 2021
Revenue from Operations	179.14	179.38	108.33	78.82
EBITDA & Margin	14.27 (7.97%)	9.82 (5.48%)	5.99 (5.53%)	6.11 (7.75%)
Profit After Tax & Margin	9.42 (5.26%)	6.61 (3.69%)	3.62 (3.34%)	2.55 (3.24%)
Net Worth	34.78	25.36	15.57	12.08
Reserves and Surplus	33.21	23.79	14.27	10.78

Company has reported excellent operational and financial performance over the years. The Company has witnessed a multi-fold growth in revenue and profitability over the years. For FY23-24 (till February 2024), the company has reported a net profit of Rs. 9.42 crore (PAT Margin 5.26%), EBITDA of Rs. 14.27 crore (EBITDA margin 7.97%) and revenue from operations of Rs. 179.14 crore. For the Full year of FY2022-23, the company reported a net profit of Rs. 6.61 crore (PAT Margin 3.69%), EBITDA of Rs. 9.82 crore (EBITDA margin 5.48%) and revenue from operations of Rs. 179.38 crore.

As on February 2024, Net Worth of the company was reported at Rs. 34.78 crore, Reserves & Surplus at Rs. 33.21 crore and Asset base of Rs. 99.79 crore. As on Feb 2024, ROE of the company was 31.33%, ROCE at 29.67% and RONW at 27.09% with a healthy debt/equity ratio of 0.35 times. Promoter Group shareholding in the company will be 73.63% post the public issue. Shares of the company will be listed on NSE’s Emerge platform.

IPO Highlights – Aeron Composite Ltd
IPO Opens on	August 28, 2024
IPO Closes on	August 30, 2024
Issue Price	Rs. 121-125 Per Share
Issue Size	44.88 lakh shares – up to Rs. 56.10 crore
Lot Size	1000 Shares
Listing on	NSE Emerge Platform of National Stock Exchange

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New Delhi [India], August 23: Founded in 2015 by Ashwani Jain, Naman Jain, and Aman Jain, Jompers was born from a simple yet ambitious mission: to offer high-quality, ethically-made ethnic clothing at competitive prices. What started as a modest initiative has rapidly evolved into a brand synonymous with excellence in men’s ethnic wear. Jompers has made a significant mark on the Indian fashion landscape, becoming a household name in just a few years.

The success story of Jompers is rooted in a strong commitment to quality, cultural relevance, and customer satisfaction. From the beginning, the brand understood the pulse of its audience—fashion-forward individuals seeking designs that balance tradition and modernity. This keen understanding, coupled with a focus on innovation while respecting cultural heritage, has propelled Jompers to the forefront of the ethnic wear market.

One of the key factors driving Jompers’ success is its competitive pricing. The brand offers premium-quality clothing at prices that are hard to beat. This balance between quality and affordability has resonated strongly with customers, establishing Jompers as a go-to choice for ethnic wear across various e-commerce platforms.

In addition to pricing, Jompers emphasizes timeless design and superior craftsmanship. The brand’s collection features minimalist yet elegant pieces that are designed to last, appealing to customers who value durability along with style. Jompers’ strong online presence has also played a pivotal role in its growth. Through engaging storytelling and visually striking content, the brand has successfully captured the attention of millennials and Gen Z, leveraging social media and digital marketing to build a loyal customer base.

Jompers’ diverse product range caters to a wide audience, offering styles, colors, and designs suited for different tastes and occasions. Whether it’s a casual gathering or a formal ceremony, Jompers ensures there is something for everyone. Over time, the brand has expanded its offerings to include clothing for both men and women, with orders now being dispatched both domestically and internationally.

The impact of Jompers is evident in its impressive milestones. Ranked as the number one brand in the men’s ethnic wear category across major fashion e-commerce platforms, Jompers now handles around 3,000 orders daily. This remarkable growth is a testament to the brand’s dedication to quality, customer satisfaction, and staying true to its roots.

As Jompers continues to grow, its story remains an inspiring example of how tradition, quality, and innovation can combine to create lasting success in the competitive world of fashion.

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New Delhi [India], August 24: In an era where artificial intelligence increasingly shapes our digital experiences, we stand at a critical crossroads of technological promise and ethical peril. This compelling interview with Delphin Varghese, Co-founder and Chief Revenue Officer of AdCounty Media, delves deep into the complex relationship between AI and the formation of echo chambers – digital bubbles that can reinforce our biases and limit our exposure to diverse perspectives.

As we navigate this intricate landscape, Varghese explores the ethical implications of AI-driven echo chambers and strategies to mitigate their effects. The discussion covers how AI algorithms can inadvertently amplify existing prejudices, potentially deepening societal divides, and emphasises the need for transparency in AI development and implementation. Varghese also examines how AI can be harnessed to identify echo chambers within online communities and break them down, promoting a more balanced and diverse digital ecosystem. Central to this conversation is the challenge of ensuring AI-generated content remains accurate and unbiased, a task that demands constant vigilance and innovative approaches. As we explore these topics, we uncover the delicate balance between leveraging AI’s potential and safeguarding against its pitfalls while striving to create a more inclusive and fair digital world.

1. How can AI algorithms inadvertently reinforce biases and create echo chambers?

– In a world that is indispensable without AI, there are instances when this technological boom can have grave repercussions too. AI integration can create echo chambers where users encounter information that reinforces their biases and is steered clear of opposing opinions. AI algorithms churn historical data, which, in certain cases, might be distorted and augment existing prejudices. Also, the primary goal of AI algorithms is user engagement. Hence, they can create ‘filter bubbles’ where users receive only the information that is in line with what they believe. This limits exposure to new ideas and confines perspectives. Also, ‘feedback loops’ created by AI algorithms promote certain types of content that reinforce selective behaviours and preferences. This entrenches existing user views and biases.

2. What are the ethical implications of AI-driven echo chambers, and how can we mitigate them?

Since AI-driven echo chambers reinforce existing biases and limit exposure to diverse perspectives, they often deepen societal divides and foster polarized viewpoints, where the essence of cohesion is lost. Additionally, since these chambers support information that aligns with the user’s point of view, there are increased chances of manipulation and misinformation. Echo chambers prevent exposure to alternative viewpoints, thereby stifling the ability to think and process things critically.

Mitigating these concerns necessitates training AI algorithms on diverse data sets. Transparency in algorithm development and implementation can also go a long way in identifying and addressing the aforementioned concerns. Equipping users with greater control over content preferences and regular audits of AI systems can help stave off biases and encourage diverse standpoints.

3. How can we design AI systems to promote diverse perspectives and break down echo chambers?

– First and foremost, it is pivotal to train AI algorithms with diverse data to reduce the risks of echo chambers and promote several alternate perspectives. Also, the key to addressing biases lies in understanding how content is selected and filtered. This transparency is crucial to breaking down echo chambers. It is essential to incorporate diverse metrics for filtering content to ensure that recommendations are balanced and not based on user history.

4. Can AI be used to identify and address echo chambers within online communities?

– Echo chambers within online communities can be identified through network analysis, sentiment and content analysis and studying engagement patterns. AI can identify communities that interact only with each other owing to like-mindedness and have little or no interaction with outside communities. Also, AI can examine the kind of posts shared and the type of topics discussed within a community to identify echo chambers that hint at the absence of diversity. Engagement metrics like likes, shares, etc., can be tracked to comprehend if certain viewpoints are reinforced, signalling the presence of echo chambers.

Diversification of content feeds is essential to expose viewers to alternate pieces of information that do not necessarily align with theirs. AI-generated personalised prompts can help users explore diverse opinions that challenge their existing beliefs and foster parity in thought processes.

5. How can we ensure that AI-generated content is accurate and unbiased?

 – It is essential to train AI models using inclusive data sets to ensure that AI content is accurate and unbiased. Also, regularly auditing and updating training data is crucial to rule out content biases. Using tools to detect and mitigate biases can go a long way in avoiding the creation of echo chambers. Identifying biases and then applying techniques like reweighting, re-sampling, debasing, etc., can help mitigate the risks associated with echo chambers. Last but not least, human oversight is vital, especially in cases where the stakes are high. Editorial oversight and feedback mechanisms can help pinpoint inaccuracies and ensure the fairness of AI-generated content.

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