Tag: Business

Vadeesh Budramane — Founder & CEO, AlgoShack Technologies

Bengaluru (Karnataka) [India], May 4: India’s enterprises are hemorrhaging thousands of crores every year due to broken software testing. AlgoShack Technologies, with its algoQA platform, is building the solution — and the results from real-world deployments are hard to ignore. 

India builds some of the world’s most sophisticated software. It also loses billions by testing it the wrong way.

Every year, Indian enterprises spend upwards of ₹50,000 crore on software development. Between 25 and 35 percent of that investment is quietly consumed by software testing – a function most boardrooms treat as a cost centre rather than a strategic imperative. The consequence is predictable and expensive: delayed product releases, compliance failures, production bugs that reach customers before they reach QA teams, and engineering talent burning out maintaining thousands of fragile, manually written test scripts that collapse every time an application is updated.

This is not a marginal problem. It is the operating reality for hundreds of Indian enterprises, from fintech platforms managing millions of daily transactions to medical device manufacturers whose software quality directly affects patient safety.

And it has been hiding in plain sight for two decades.

What Is AlgoShack Technologies —  And What Does algoQA Do?

AlgoShack Technologies is a Bengaluru-based AI product company founded in 2018 by Vadeesh Budramane, a product engineering veteran with 35 years of experience across healthcare, fintech, retail, and enterprise software. Its flagship platform, algoQA, is an AI-Augmented Autonomous Testing platform – classified as a 5th-generation test automation solution – that eliminates the need for manual test scripting.

Unlike conventional automation tools that require engineers to write, maintain, and debug scripts manually, algoQA, which leverages artificial intelligence and machine learning, automatically generates test cases, produces production-grade test scripts without manual coding, and self-heals as applications evolve. The result is a platform that not only accelerates automation but also enables autonomous testing at scale. 

AlgoShack Technologies is currently ranked 27th globally among more than 900 test automation companies by Tracxn. The company holds two patent applications published in April 2026, with four more in progress, and is ISO 9001:2015 certified with IEC 62304 and ISO 14971 attestations – credentials that make algoQA one of the very few platforms in India cleared for medical device software environments.

Why the Traditional Testing Model Is Failing Indian Enterprises

The core problem is architectural. Traditional QA was designed for quarterly release cycles. Applications were updated slowly, scripts were written once and maintained over months, and regression testing happened in planned windows before go-live.

That world no longer exists.

Enterprise applications today are updated weekly, often daily. Agile sprints compress delivery to two-week cycles. DevOps pipelines demand continuous integration and continuous deployment. In this environment, a testing model built on manual scripting is not merely slow – it is structurally incompatible with how modern software is built.

The data confirms the scale of the damage. Global research estimates that software bugs cost the world economy over $2.84 trillion annually. In India, QA teams spend up to 40 percent of their working time not on testing, but on maintaining tests already written – rewriting automation that breaks when applications change, chasing flaky scripts that produce inconsistent results, and managing regression suites that take days to execute when the business needs answers in hours.

This is not a people problem. Indian engineering talent is among the best in the world. It is a tooling problem – and it is costing enterprises not just money, but speed, compliance, and competitive position.

What AlgoShack’s algoQA Platform Delivers – In Numbers

AlgoShack Technologies has deployed algoQA across enterprise clients in Medical Devices, Banking and FinTech, Retail and Digital Commerce, and Enterprise Software. The performance data from those deployments is specific and verifiable.

Clients report up to an 80 percent reduction in testing and test maintenance costs, with testing cycle times also reduced by as much as 80 percent. Automation coverage exceeds 90 percent. In the medical device domain, algoQA has delivered up to a 10x return on investment.

The company has been recognised as the “Most Resilient Supplier in Delivery” by a leading global enterprise—one of the most rigorous validations a software company can receive. It has also been awarded the “Best Innovation Award” by a Fortune 50 medical devices company. Both recognitions come from global enterprises where software quality failures carry significant regulatory and patient safety implications.

AlgoShack Technologies has grown at 55 percent compound annual growth rate for four consecutive years – entirely bootstrapped, without a single rupee of external funding. The company employs 300 professionals, holds enterprise Net Promoter Scores of 94, and its algoQA platform is rated 4.9 out of 5 on G2 and 5 out of 5 on SoftwareSuggest.

The Market Problem AlgoShack Is Positioned to Own

India’s software testing market is not short of vendors. What it has been short of is a credible, AI-native, product-led platform that addresses the structural failures of the traditional model – not with more engineers, but with genuine automation.

Algoshack Technologies is that platform. With its IP in autonomous test generation, auto-healing, and AI-driven exploratory testing, algoQA represents a category that global competitors are racing to build and that AlgoShack already ships.

The ₹50,000 crore problem is not going away. The enterprises that embed AI-native quality engineering into their development lifecycle will outship, outscale, and out-comply those that continue patching broken manual processes with more headcount.

AlgoShack Technologies and algoQA represent a potential inflection point for India’s software industry—built, patented, and deployed from Bengaluru. 

AlgoShack Technologies is headquartered in Bengaluru, India. The company’s AI-Augmented Autonomous Testing platform, algoQA, is deployed by global enterprises across Medical Devices, Banking and FinTech, Retail, and Enterprise Software. Website: www.algoshack.com | Contact: info@algoshack.com

Mumbai (Maharashtra) [India], May 4: Harshdeep Hortico Limited (BSE: HARSHDEEP), specializing in the manufacture and export of pots, planters, garden accessories, and outdoor furniture; announced its Unaudited financials for H2 FY26.

Key H2 FY26 Financial Highlights

Key Financial Highlights (Consolidated) – H2 FY2025-26

• Revenue for H2 FY2025–26 was ₹36.07 crore, compared to ₹31.45 crore in H2 FY2024 – 25, reflecting a year-over-year growth of 15%.

• Profit Before Tax (PBT) for H2 FY2025–26 stood at ₹6.82 crore, up from ₹5.48 crore in H2 FY2024–25, marking a year-over-year increase of 25%.

• Profit After Tax (PAT) for H2 FY2025–26 was ₹6.82 crore versus ₹5.47 crore in H2 FY2024–25, indicating a year-over-year growth of 24.68%.

Harshdeep Hortico Limited demonstrated strong performance in H2 FY26, reflecting the company’s resilience, operational excellence, and strategic focus within the horticulture and outdoor lifestyle sector. Commenting on the results, Mr. Hitesh Shah, Director, stated that

The Company is pleased to announce that a dividend of ₹0.25 per equity share has been declared, reaffirming its commitment to delivering value to its shareholders. 

FY 2025-26 has been a defining year for Harshdeep Hortico We strengthened our leadership in the planter segment while making a bold entry into new categories like Agriculture shade nets, reinforcing our commitment to innovation-led growth. Our focus remained clear: better design, Advanced manufacturing, and premium positioning. From expanding our product range to enhancing our distribution and execution, every step this year has been aligned with long-term value creation. What excites us most is the foundation we are building one that combines scale with creativity, and consistency with ambition. As we move ahead, we remain committed to pushing boundaries and creating products that stand out not just in India, but globally.

Recently, the company has launched a new product category, Rotomoulded Decorative Water Fountains, on April 19, 2026, as part of its expansion and innovation strategy. The product falls under indoor and outdoor decorative and landscape solutions and will initially cater to the domestic market, with plans for international expansion. This first-of-its-kind rotomoulded segment in India has been developed through in-house design capabilities. The launch is expected to strengthen the company’s position in the decorative and landscape segment while enhancing product diversification. It is also anticipated to create new growth opportunities across domestic as well as export markets.

Milestone 2025-26:

Expanded into agriculture shade nets.

Strengthened dealer network across India

Expanded our Eco Series – sustainable products by design

Expanded our presence in the outdoor décor segment

Upgraded capacity & processes for scale and quality

Introduced India’s first roto moulded indoor and outdoor fountain range 

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Suvro Chandra, Joint Managing Director, P.C. Chandra Jewellers, A.K. Chandra, Managing Director, P.C. Chandra Group, Shri Javed Akhtar, Shri Goutam Ghosh, and Prosenjit Chandra, Director, P.C. Chandra Jewellers

Kolkata (West Bengal) [India], May 4: P.C. Chandra Group, an 85-plus-year legacy and one of the leading business houses from the East, with its esteemed luxury jewellery brand P.C. Chandra Jewellers, conferred the prestigious 33^rd P.C. Chandra Puraskaar upon the legendary wordsmith Shri Javed Akhtar at a grand ceremony in Kolkata. Instituted by the P.C. Chandra Group, this award recognizes exceptional achievements across diverse fields, honouring the legacy of its visionary founder, Shri Purna Chandra Chandra.

The Puraskaar, carrying a tax-free honorarium of ₹20 lakhs, is among the most respected honours and is awarded annually to the founder, Shri. Purna Chandra Chandra’s birth anniversary. Since its inception in 1993, it has celebrated national icons, including Grandmaster Viswanathan Anand, Nobel Laureate Kailash Satyarthi Ji, veteran singer Smt Asha Bhosle, Dr. Devi Shetty, Shri Kapil Dev, Ustad Amjad Ali Khan, Smt Mary Kom, and Shri Somanath S, Shri Leader Peas, among others.

Speaking at the occasion, Mr. Suvro Chandra, Joint Managing Director of P.C. Chandra Jewellers, said, “Today, we honour Shri Javed Akhtar with the 33^rd PC Chandra Puraskaar, a recognition that celebrates excellence, legacy, and enduring impact. Through his words as a poet, lyricist, and screenwriter, he has shaped generations and enriched Indian cinema and literature.”

He also added, “Much like the ethos of PC Chandra Group, celebrating stories, milestones, and moments that last — his work continues to inspire, resonate, and live on through time. We feel privileged to honour him. ”

The evening was also graced by the presence of Chief Guest Shri Goutam Ghosh, the renowned national award-winning film director, along with Shri Arun Kumar Chandra, Managing Director of P.C. Chandra Group; Mr. Suvro Chandra, Joint Managing Director of P.C. Chandra Jewellers; and Mr. Prosenjit Chandra, Director of P.C. Chandra Jewellers. 

P.C. Chandra Group is a leading business conglomerate from East India, with a legacy of 85 plus years of trust and customer loyalty in jewellery through P.C. Chandra Jewellers, having over 75 plus showrooms across India. The Group has diversified into various sectors, including adhesives, chemicals, hospitality, software, environmental initiatives, real estate, rubber plantations, and rental services. With a strong reputation and trust among global consumers and prestigious clients, P.C. Chandra Group is a socially responsible corporation committed to numerous CSR initiatives. These include the J.L. Chandra Merit Scholarship, J.N. Chandra Anuprerna, Gyandhara, Neem Banani, and #StopTheDrop, focusing on education, environment, and community development.

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Ahmedabad (Gujarat) [India], May 2: Ahmedabad (Gujarat) [India], May 4: Munoth Hedge Fund (MHF), a SEBI-registered Alternative Investment Fund (AIF Category III), hosted its semi-annual conference “ONE/2,” at IIMA Ventures, Ahmedabad, on May 1, 2026.

Managed by Munoth Capital Market Limited (MCML), under the leadership of Siddharth Jain, MHF continues to position itself at the intersection of capital, research, and informed dialogue.

Vidhi Kankaria, also from the Munoth Hedge Fund leadership team, curated ONE/2 to cover the breadth of investments. Starting from venture capital, to secondary markets, a whole range of alternative asset classes were discussed. The event convened 100+ people from different professional and industrial backgrounds to add muscle to the topics at hand!

The event featured keynote insights from Apurva Sahijwani, Managing Director & CEO at Avendus Wealth, who shared his perspective on the trajectory and growth of alternative investments in India.

He was joined by Vipul Patel, Partner at IIMA Ventures, who delved into the “India Story” through the lens of venture capital, innovation, and entrepreneurial momentum.

MHF, as part of its commitment to fostering dialogue between capital and innovation also hosted two emerging startups backed by IIMA Ventures: Orbitt Space and Genoscope. Both ventures are developing cutting-edge solutions to existing shortcomings in the space-tech & health-tech sectors, respectively

Through ONE/2, Munoth Hedge Fund continues to build a platform that bridges institutional capital, venture ecosystems, and emerging technologies, anchored in the belief that informed dialogue is fundamental to long-term value creation

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Mumbai (Maharashtra) [India], May 4: Sejal Glass Limited (Sejal Glass, The Company), (NSE Code: SEJALLTD/ BSE Code: 532993), one of the leading players in the architectural glass industry, specializing in high-quality glass solutions, has announced its Audited Financial Results for Q4 FY26.

Key Consolidated Financial Highlights

Particulars (₹ Cr)	Q4 FY26	Q4 FY25	YOY	FY 26	FY25	YOY
Total Income	116.85	67.90	72.09%	401.36	244.95	63.85%
EBITDA	20.47	9.84	108.03%	66.32	35.34	87.66%
EBITDA Margin	17.52%	14.49%	303 Bps	16.52%	14.43%	210 Bps
Net Profit	11.42	3.78	202.12%	29.03	11.03	163.19%
Net Profit Margin	9.77%	5.57%	420 Bps	7.23%	4.50%	273 Bps
EPS (In ₹) (Diluted)	9.60	3.75	156.00%	27.12	10.85	149.95%

Commenting on the performance, Mr. Amrut Gada, Promoter of Sejal Glass Limited, said, “We are pleased to report a strong close to FY26, with the Company delivering its highest ever quarterly performance in Q4, supported by robust execution and sustained demand across key segments. During the year, we successfully surpassed our revenue guidance, with total income crossing ₹401 Cr, reflecting consistent growth momentum across both domestic and international markets.

Operational performance during the quarter remained strong, driven by an improving product mix and better contribution from recently integrated units. While the Company faced some temporary supply chain disruptions in international operations, overall execution remained stable, enabling us to maintain margins in line with our stated guidance.

Looking ahead, we remain focused on scaling our value-added product portfolio and enhancing operational efficiencies. With strong demand visibility, improving capacity utilisation and continued focus on higher margin products, the Company is well positioned to sustain its growth trajectory in the coming years.”

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Navi Mumbai (Maharashtra) [India], May 4: Mitsu Chem Plast Limited (Mitsu, The Company) (BSE:540078), one of the leading global manufacturers of blow-molded and injection-molded products and a specialist in Hospital furniture components, Infrastructure Products, Packaging Bottles, Drums, Jerry Cans, Pails, and Caps, has announced its Audited Financial Results for Q4 FY26.

Key Financial Highlights

Q4 FY26

• Total Income of ₹ 8,679.47 Lakhs,
• EBITDA of ₹ 1,422.74 Lakhs, YoY growth of 72.98%
• EBITDA Margin of 16.45%, YoY growth of 736 Bps
• Net Profit of ₹ 771.73 Lakhs, YoY growth of 117.90%
• Net Profit Margin (%) of 8.92%, YoY growth of 501 Bps
• EPS of ₹ 5.68, YoY growth of 117.62%

FY26

• Total Income of ₹ 35,084.56 Lakhs, YoY growth of 5.40%
• EBITDA of ₹ 3,466.31 Lakhs, YoY growth of 48.88%
• EBITDA Margin of 9.90%, YoY growth of 289 Bps
• Net Profit of ₹ 1,561.87 Lakhs, YoY growth of 115.40%
• Net Profit Margin (%) of 4.46%, YoY growth of 228 Bps
• EPS of ₹ 11.50, YoY growth of 113.36%

Commenting on the performance, Mr. Jagdish Dedhia, Chairman of Mitsu Chem Plast Limited said,“Q4 FY26 has been a satisfying close to what has been a year of steady and purposeful progress for Mitsu Chem Plast. We delivered meaningful improvement in profitability during the quarter, driven by disciplined execution, better operating efficiencies, and a continued focus on higher value-added products. Our Furnastra healthcare furniture vertical continues to scale well, and our export business remains on a strong growth trajectory spanning more than 17 countries.

We are also excited about our strategic entry into the Intermediate Bulk Container vertical, which we believe is a natural and well-timed extension of our packaging capabilities and will open a significant new avenue for growth. As we step into FY27, we remain committed to disciplined capital deployment, operational excellence, and delivering sustainable long-term value for all our stakeholders.”

Q4 FY26 Key Operational Highlights

Capacity Expansion & Global Business Strengthening

• A planned addition of ~900 MT per annum, taking total installed capacity to ~29,900+ MT per annum, with commencement of operations at the new Boisar facility (Unit 4) in January 2026.  • Entered into a Global Supplier Agreement with Arjohuntleigh Polska (Poland), marking onboarding as a global supplier to a leading medical equipment group.  • Strengthens presence in the healthcare vertical, expands export opportunities, and enhances global brand visibility while supporting long-term growth.

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Mumbai (Maharashtra) [India], May 4: Simca Advertising Limited, a Mumbai and Maharashtra-based OOH (Out-of-Home) advertising player, is coming up with its IPO. The company is opening its Initial Public Offering on May 08, 2026, aiming to raise ₹ 58.04 Crores with shares to be listed on the NSE Emerge platform.

The issue size is ₹58.04 Crore with a fresh issue size of 31,71,600 equity shares with a face value of ₹10 each with a price band of ₹174 – ₹183 Per Share.

Equity Share Allocation

• QIB (Including Anchor Portion) – 9,27,000 Equity Shares
• Non-Institutional Bidders – 10,29,600 Equity Shares
• Individual Bidders – 10,56,000 Equity Shares
• Market Maker – 1,59,000 Equity Shares

The net proceeds from the IPO will be utilized for the purchase and installation of LED (“Light-emitting diode”) screens, funding for strategic collaboration with Capital World Media Services Private Limited (“CWM”) for monetization of 20 LED digital advertising screens, funding incremental working capital requirements, general corporate purposes, and issue-related expenses. The anchor bidding will open on Thursday, May 07, 2026. The issue will open on Friday, May 08, 2026, and close on Tuesday, May 12, 2026.

The Book Running Lead Manager to the Issue is Socradamus Capital Private Limited, and the Registrar to the issue is MUFG Intime India Private Limited.

Mr. Fahim Batliwala, Chairman, Managing Director, and Promoter of Simca Advertising Limited, expressed, “At Simca Advertising, our focus has always been on delivering high-impact outdoor advertising solutions backed by strong execution capabilities. The IPO is a strategic step towards scaling our digital footprint and capitalizing on the growing shift towards DOOH advertising.

We intend to utilize the proceeds to expand our LED screen network, strengthen partnerships, and support working capital requirements. With rising urbanization and demand for premium outdoor media, we are well-positioned to capture the next phase of growth in the OOH industry.”

Mr.  Priyesh Jain, Director of Socradamus Capital Private Limited, expressed, “Simca Advertising Limited operates in a niche segment of the Out-of-Home (OOH) advertising industry, which is witnessing steady growth supported by urbanization and increasing adoption of organized media formats. The company has built a strong presence in key high-traffic locations and demonstrated consistent growth in its operations.

With increasing traction in Digital Out-of-Home (DOOH) advertising and focus on expanding digital infrastructure, we believe the company is well-positioned to leverage emerging opportunities in the sector. We are pleased to partner with the company in this IPO and support its growth journey.”

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Visakhapatnam (Andhra Pradesh) [India], May 4: Steel Exchange India Limited (NSE: STEELXIND, BSE: 534748), one of the leading integrated steel manufacturers in South India and a trusted name in TMT rebars under the brand ‘SIMHADRI TMT’, has announced key capital market developments comprising fresh warrant issuance and conversion of existing warrants, aimed at further strengthening the Company’s capital structure.

Key Approved Developments:

• Fresh Allotment of 4,40,00,000 Convertible Equity Warrants at ₹9.45 per warrant on a preferential basis, aggregating to ₹10.40crore on receipt of 25 % of Subscription Amount.

• Conversion of 2,82,97,870 Existing Warrants issued at 14.10 into Equity Shares following receipt of balance subscription money aggregating to ₹29.92 crore

These developments are expected to strengthen Steel Exchange India’s capital base and financial flexibility, enhancing the Company’s ability to support operational expansion, improve working capital efficiency, and pursue strategic growth opportunities. With a reinforced financial foundation, SEIL remains well-positioned to capitalize on demand growth in the domestic steel sector and drive long-term value creation.

Commenting on the update, the management of Steel Exchange India Limited said: “ The warrant allotment and subsequent conversion represent a strategic step in strengthening our capital base and enhancing financial flexibility. This positions us well to scale operations, improve supply chain efficiencies and pursue growth opportunities across the steel value chain, while continuing to build long-term value.”

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Mr Rajendra Kumar Setia, Managing Director & CEO, SK Finance Limited

Jaipur (Rajasthan) [India], May 4: SK Finance Limited today announced its financial results for the fourth quarter and financial year ended March 31, 2026, registering growth across key business parameters.

The company registered total income from operations of ₹2,823.60 crore during the FY26, while net profit after tax (PAT) stood at ₹431 crore.

SK Finance Limited reported strong growth in its Assets Under Management (AUM), which increased to ₹15,755.22 crore as of March 31, 2026. During FY26, the company recorded total disbursements of ₹9,162.27 crore.

Key Highlights

• AUM at ₹15,755 crore as of March 31, 2026
• Disbursements over ₹9,162 crore for FY26
• PAT crosses ₹431 crore for FY26

As of March 31, 2026, SK Finance Limited maintained a strong balance sheet with a net worth of ₹3,962.83 crore and a debt-equity ratio of 3.23, reflecting prudent leverage and financial stability.

The Company continues to maintain strong credit credentials, with long-term ratings of AA-/Stable from ICRA and CARE Ratings and AA-/Positive from India Ratings, while the short-term rating stands at A1+, reaffirming confidence among lenders and investors.

Commenting on the company’s performance, Mr Rajendra Kumar Setia, Managing Director & CEO, SK Finance Limited, said, “FY26 was a defining year for us, with strong growth in AUM, profitability, and other key parameters, while maintaining focus on asset quality. This reflects the strength of our asset-backed lending model and our close customer relationships.”

“As the NBFC sector evolves towards data-led, digital-first lending, we are building scalable platforms that enhance underwriting, improve customer experience and strengthen risk management. We believe this is the year of technology in financial services—and SK Finance is ready to lead this transformation for Naya Bharat,” he added.

About SK Finance Limited

Founded in 1994, SK Finance Limited is one of India’s leading non-banking financial companies with a diversified, asset-backed lending portfolio, spanning commercial vehicles, cars, tractors, construction equipment, and secured business loans, among others.

The company operates across 12 states and 2 union territories, supported by a network of 705+ branches and a workforce of over 12,800 employees. It serves a large customer base through a combination of direct sourcing, dealer partnerships, and channel networks.

The company combines deep on-the-ground distribution capabilities with data-led underwriting and risk management frameworks, enabling scalable growth and a strategic focus on financing income-generating assets.

With a scalable operating model, strong lender confidence, and disciplined execution, SK Finance continues to strengthen its position as a fast-growing player in India’s asset-backed lending space.

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New Delhi [India], May 4: In a significant development in India’s fast-evolving technology services sector, SB Infowaves, under the leadership of founder and Managing Director Shreya Parasrampuria, is strengthening its global footprint through strategic partnerships, advanced AI-driven offerings, and active participation in major industry platforms.

Founded with a vision to deliver practical, scalable technology solutions, SB Infowaves has grown into a multi-domain digital transformation company offering services across artificial intelligence, machine learning, custom software development, cloud infrastructure, web and mobile applications. The company has positioned itself strongly in emerging areas such as AIoT (Artificial Intelligence of Things), integrating connected devices with intelligent data systems to enable real-time decision-making and automation for businesses across industries.

As the MD, Parasrampuria brings a great combination of finance and strategy, having gained much experience working in PwC and ICICI Bank. She places an emphasis on solving problems and implementing them by creating unique technological platforms. Thanks to her guidance, SB Infowaves managed to increase its delivery across the globe, focusing on the client-centeredness and tangible results.

SB Infowaves is planning to take part in CMPL Expo 2026 that is going to be held between May 4 and June 6, 2026, at Jio World Convention Centre in Mumbai. Being considered as one of the most prominent events for the contract manufacturing and private label sector in Asia, the event is going to be attended by such companies as those involved in the FMCG industry.

The involvement of the firm in the CMPL Expo showcases its attempts at expansion into various sectors such as retail, manufacturing, and e-commerce, where there is an increasing demand for AI-based automation, data analytics, and digitization.

It should be highlighted that SB Infowaves has formed an international alliance with X-Venture,US with the intention of delivering innovative Agentic AI services to small firms in the US market. Through this international collaboration, companies would be able to deploy autonomous AI systems that not only perform automation but also take decisions.

By becoming ISO 27001:2022 compliant, along with its wide range of offerings, such as Artificial Intelligence (AI), Blockchain, Cloud Computing, DevOps, and Data Engineering, SB Infowaves will continue with its position as a reliable technology partner for companies that seek futuristic digital environments.

Given the current rising demand worldwide for transformation through Artificial Intelligence, it is clear that SB Infowaves will seek to play an active role in the coming digital revolution.

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