Tag: Business

Talentrack Awards 2022 to be held on 8th September 2022

India, July 29: India’s pioneering and most coveted awards for OTT, web series and digital content – Talentrack Awards – are back! The 6th edition of the Annual Talentrack Awards is all set to take place in the month of September in Mumbai.

Established in 2017, the Talentrack Awards recognize and felicitate companies and individuals who have delivered outstanding films, web series, and performances in the digital-content ecosystem. Over the years, the prestigious Talentrack Awards have received nominations and participation from leading OTT platforms, top production houses, filmmakers, digital-content producers, advertising agencies, and some of the biggest stars of Bollywood.

Talentrack Awards 2022 will be hosted by the Talentrack Academy for Digital Entertainment & Content (TADEC) – a pioneering initiative committed to catalyzing and empowering the digital entertainment & content community. TADEC brings together an ecosystem of illustrious personalities and institutions from across the Indian entertainment sector. The Academy is devoted to harnessing its collective intellect and influence to support artists, creators, filmmakers, entrepreneurs, and start-ups in the digital-content space. New initiatives around training and investment are rolled out with a vision to build TADEC into the definitive hub for creative excellence in the digital-content universe.

Over half a decade, the t-trophy has become the most sought-after recognition in the digital-content space in India. In the previous editions, the t-trophy has been picked up by outstanding stars and performers like Manoj Bajpayee, Kiara Advani, R. Madhavan, Anurag Basu, Pankaj Tripathi, Jackie Shroff, Ekta Kapoor, Pratik Gandhi, Arshad Warsi, Masaba Gupta, Sanya Malhotra, Raghu & Rajiv, Naveen Kasturia, Abish Mathew, Prajakta Koli, Sumeet Vyaas, Maanvi Gagroo, Saqib Saleem, Mithila Palkar and many more leading celebrities in the business.

The evaluations of the nominations will be undertaken by a Grand Jury comprising industry leaders and critics of creative work. Leading OTT players, including Netflix, Amazon Prime Video, Disney+ Hotstar, SonyLIV, ALTBalaji, MXPlayer, Zee5, Eros and Voot, will be competing for the prestigious Talentrack trophy.

The previous editions of the awards have been supported by SonyLIV, NewsX, Ola, Zomato, 93.5 Red FM, India TV, The Visual House, Treehouse Hotels, SOL Production, Dainik Bhaskar, TreeShade Books, Nine Triangles, Magnon Group, Whistling Woods International, PTC Punjabi, Mid-day, Inox and CPM.

“We are excited to share that the 6th edition of the Talentrack Awards will be hosted by the Talentrack Academy for Digital Entertainment & Content (TADEC) and will be attended by the biggest celebrities and stakeholders of the digital-content ecosystem. The nights of the awards ceremony have always been a captivating, starry affair and we are all set to make it bigger this year.” – Vineet Bajpai, Founder, Talentrack.

Learn more about Talentrack Awards 2022 – www.talentrackawards.in

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The biggest, most significant and distinct Gifts Sourcing Platform in India, the all-new 20th edition of Gifts World expo, has started at Pragati Maidan, New Delhi, from 28 – 30 July 2022.

New Delhi [India], July 29: MEX Exhibitions Pvt. Ltd., a leading trade show organiser in the country, is all set to organise its next edition of Gifts World Expo, the largest B2B gifting and promotional solutions exhibition at Pragati Maidan, New Delhi, from 28-30 July 2022. The revitalised trade show will showcase over 350 exhibitors from the entire industry representing over 1000 brands showcasing more than 10,000 products&trending gifting in highly diversified segments to address all gifts sourcing needs.

This 20th edition will mark the beginning of the gifting & festive season, with massive business deals and limitless networking opportunities across the show floor. It will open an ocean of networking and sourcing opportunities with top well-established brands from the gifting industry to brand-new start-ups. All exhibitors are all set to exhibit their best and latest gifting solutions. In the past, the show had an impressive record of participation of leading brands showcasing top-class, innovative products that catered to the overwhelming footfall.

The products will cater to all budget ranges, sourcing every buyer’s needs. Some leading brands participating in the show include Philips, Raymonds, United Colours of Benetton, Happilo, WildCraft, Vinod Cookware, The Man Co., Mamaearth, Welspun, Trident, Windsor Chocolate, Reynolds, Lamy, Zebronics, Reliance (Jio Mart Partner), P&G, Cookieman, Casa Décor, Syska LED, Fujifilm, Vega, Titan, Timex, Jack & Jones, Moda& many more.

We have created a brand-new and unique space called the start-up zone, which is solely dedicated to providing a platform for new and budding start-ups showcasing their creative innovations to potential buyers from all over India. We hope to give them this unique networking opportunity to aid in scaling their gifting business & carve their niche in the gifting industry.

The focus theme for this edition is Eco-friendly and Sustainable Gifting— brought on to address the increased awareness about sustainable living and the pressing need to find smart and innovative ways to combat climate change. We at MEX are excited about our team stepping in by wearing t-shirts made from upcycled plastic bottles by BrandStore India Pvt. Ltd. on the set-up days. This move reiterates our commitment and initiative toward sustainable living by launching India’s first sustainable brand: UNIREC – where every garment is made using at least 10-12 recycled PET (plastic) bottles.

Gifts World Expo is backed by the expertise of exhibition industry leader MEX Exhibitions Pvt Ltd, which ensures to set an industry standard with a vital record of gathering some of the leading and well-known companies and brands to congregate gifting businesses. Every edition received a commendable response from all across the globe.

The show features a comprehensive array of products in varied classified gifting segments under ‘Corporate Gifts & Promotions’ and ‘Festive & Celebration Gifts’. A platform for face-to-face interactions, building dealer-distributor network, launching new products, and reaching out to bulk gift buyers. The show is targeted at corporate buyers looking for bulk sourcing. It is the only platform that offers an extensive range in every budget & gifting category under one roof. It is strictly for business visitors & not a place if you are looking for retail sales.

The show is supported by CGAI & the title sponsor for the show is a leading snacking food brand Happilo. Other brands like Reynolds, Ubon, Mobilla&Swayam have also taken up sponsorships at the show.

Commenting on the upcoming edition of Gifts World Expo, Ms. Himani Gulati, Director, MEX Exhibitions Pvt. Ltd., said, “I am glad to announce the 20th edition, which is bigger than ever before with more than 350 exhibitors. The need for unique& trending gifting products & solutions is constantly increasing and is setting new benchmarks. Gifts World Expo showcases the latest innovations & also varied gifts in all budget ranges to meet the bulk sourcing requirements of buyers from all industries across the country. Through this Expo, we will provide business and networking opportunities to both big & small players to come forth and showcase their creations for the benefit of the industry & to boost long-term associations.”

Gifts World Expo is the nation’s largest gifting show, bringing together significant suppliers and buyers for mutual benefit. It is targeted at brands and product managers from advertising agencies, boutiques, decision-makers from pharmaceutical companies, IT & Software, FMCG & other sectors, department stores, distributors & agents, duty-free & travel retailers, event companies, gift industry professionals, government agency buyers, home & lifestyle stores, hospitality sector, multinational corporates, specialist retailers, overseas buyers, etc.

Exciting Highlights by Gifts World Expo- Delhi Edition

The show displays limitless gifting creations in diversified segments to create the most power-packed environment for gifting industry players:

– Customised Gifts & Promotional Products

– Wellness Gifts

– Gourmet Hampers

– Custom Branding Machinery

– Electronic Gadgets & Home Appliances

– Awards & Rewards

– Handicrafts, Home Decor & Furnishings

– Houseware & Kitchen Appliances

– Stationery & Office Supplies

– Innovative Gifting Boxes

– Premium Gifts, Gold & Silver Gifts

– Lifestyle Products

– Celebration & Festive Gifts

For more information, please visit www.giftsworldexpo.com.

MEX Exhibitions Pvt. Ltd. is an international exhibition company with a strong presence of over four decades in the advertising industry, over 26 years in publishing & 19 years in exhibitions. The company has produced more than 100 market-leading trade exhibitions for various segments in addition to publishing various magazines & advertising trade directories of repute. Successful exhibitions are conducted all over India, Dubai, Singapore, and Thailand. For more details, visit our website at: www.mexexhibits.com.

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Chennai (Tamilnadu) [India], July 29: Govche India Private Limited is highly elated to announce that they are set to launch Comfile360, an online platform for simplifying tax compliances aiding the betterment of startups and small businesses at a greater length. Comfile360 is a distinctive platform that allows business owners to stay statutorily compliant by generating instant status reports extending further support on filing tax returns and paying taxes, all under one roof. This platform does not limit only to reports and return filing but also provides befitting solutions leading anyone to start and manage one’s business irrespective of the nature and type.

It is easy for any business owner to get entangled in the net of lumpsum penalties and late fees on account of non-compliance to the laws. Comfile360 oversees all such issues on behalf of the Business owners. However, they have come up with legalities related to Registrar of Companies (ROC), Income Tax and GST, and in dues course, it could be expected that Comfile360 will be flooded with all the Laws that are governing and in force in the Country. This distinguished platform eliminates all dependencies on knowing one’s business’s tax status by not making any hard effort rather than on one click from anywhere at any time.

Comfile360 is the brainchild of Murugan G, who is also the brain behind Govche India Private Limited, which is in general parlance recognised as “Kanakkupillai”. Kanakkupillai is a web portal of Govche India Private Limited web portal that streamlines the business process in India right from the incorporation/inception. They aim to offer services under one umbrella, starting from Business Registration, Accounting, Taxation, Compliance, Secretarial Services, Legal Services, and many more. Moreover, Kanakkupillai looks into every small and essential aspect of a new Start-up and SMEs. The services are being offered on packages as a combo and individual service basis as per the requirement of the Business Owner. The prices are comparatively nominal though there are no compromises on the quality of the services. They have achieved massive compliments from almost all of their customers, gaining their satisfaction to the fullest.

Discussing the ideology of Mr. Murugan G, the Founder and Chief Executive Officer of Govche India Private Limited, he said, “I always wanted to extend the maximum benefit to the Business Owners by helping them utilise all the services from one spot. As there are various services that a Business will require, whether related to tax or registration or licensing, I still have the urge to collate manifold services, which shall also include listing on Stock Exchange, aiding in Crowd Funding/Seed Funding, Insurance services and lot more. At this instant, Comfile360 would be helpful for all start-ups and SMEs, enabling them to get undisturbed taxation and compliance services, ensuring they target their business objectives rather than plunge into day-to-day administrative activities. The world is evolving around technology, and getting things done virtually and staying back at their places are easing every transaction, and our Comfile360 is just adding a feather to the digital World. Though initially, the start-ups and SMEs would be majorly benefitted from this, our eventual purpose is to serve all types of Business owners, including but not limited to Bankers, Underwriters, Real Estate Agents, Insurers, Insurance Brokers, Investment Bankers and so on.”

He added, “It was once said that if you do not take risks, you will always work for someone who does. In my opinion, all Business owners are risk grabbers, and those risks are to be braced up with adequate necessities. My team and I are striving hard to be that segment of the Business World that would bring phenomenal assistance to all Business Owners. With this novel thought, after huge tough grinds, I, along with my team, launched Comfile360, expecting a wide arm welcome from the Business World. This will surely mitigate all the risk of missing the due dates, landing on hefty penalties, and becoming non-compliant in the eyes of the Government. All you need to do is to join hands with Comfile360 and ease at your place, needing not to worry about taxation and compliances.”

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July 29: India’s most trusted and fast growing Holidays, tours, MICE & Events brand Wowidays has Introduced “Padmashri Meenakshi Raghvan (Meenakshi Amma) as Brand Ambassador to promote Kerala in a unique & most beneficial way.

We at wowidays are always committed to giving cost-effective holidays/ tours without compromising luxury with various ideas & itineraries.

“Kalari Kerala ” is also a similar initiative. While enjoying the holiday/tour can enjoy local traditions and learn kalaripayattu ( Indian traditional martial art), Yoga & Meditation, which will be beneficial for whole life practice to keep mental health & physically strong. Not only tourism & health with this initiative and practice of kalaripayattu it gives strength and self-defence, and I request all family members who want to enjoy their family tour to utilise This initiative. 

We at Team wowidays always believe that itineraries should cover most of the things when one comes back from tour should not feel that they have missed anything from the tour, local traditions, local food, things to buy from tour etc … 

And we feel that nowadays people spend a lot of time and stress arranging tour instead of enjoying the tour, this stress even increases when it comes to business travel. We are committed to minimising this stress and time.

With our pre-inventory and early bird offers, one can enjoy cost-effective holidays or business travel.

Recently Prime minister Modi Ji also initiated “Chalo India” on various international platforms and asked all generations to show local traditions to the world, which is motivated to come up with such initiative tour ideas. 

Once again, thanks to Meenakshi Amma for coming forward to promote not only traditions but also tourism, health and confidence in all age groups, particularly the young generation, and it will be a great inspiration to women.

Raghu Chowdhary ( VeeRa) – CEO of Wowidays

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Lucknow (Uttar Pradesh) [India], July 29: Sharad Mishra produced three campaign songs for Congress. These three songs were released on YouTube as well as played and recited at party rallies and meetings. In view of the intention of the Congress party, Sharad Mishra produced these three songs. The song “Ladki Hoon Lad Sakti Hoon” is sung by famous Bollywood singer Swati Sharma while another song, Hum Vachan Nibhayenge, is sung by Shahid Mallya. The third song is sung by Shabab Sabri, which is on the issue of inflation. These three songs of Sharad Mishra, a Censor Board member, written by Panchhi Jalonvi, were launched by former Union Minister Rajiv Shukla in Lucknow.

From politics and social service to film production, Sharad Mishra has a wonderful journey.

Sharad Mishra, carrying out the responsibility of the state general secretary of the Uttar Pradesh Congress Committee, has made social service the goal of his life. He helped many people even during the Corona period and lockdown. Whether it was about providing oxygen cylinders or financial assistance in the Covid Relief Fund, he actively participated in helping people.

Apart from being associated with politics and social service, Sharad Mishra has also stepped into the field of cinema. He has started his own production house and also intends to make films.

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Pune, July 29: SG Analytics, a Global Insights & Analytics firm, opened its new office in Berkeley Square Park, London, as part of its global growth strategy and scale-up efforts.

Set in the heart of London’s business activities, SG Analytics’ new office in Berkley House will assist with the company’s growth in 2022 and beyond. The new office at Berkley Square House provides more space to meet with clients and partners, expands the company’s presence in the heart of London, and enhances collaboration opportunities serving the diverse needs of businesses.

Earlier this year, Simran Wadhwa, one of the four partners at SG Analytics, moved to the UK to expand operations and enable deeper penetration in the region. She was instrumental in opening SGA’s New York office a few years ago.

Simran, who has been part of SG Analytics since its inception in 2007, played a key pivotal role in growing the business across the US and the UK. In her current role, Simran is leading SG Analytics’ growth in the Europe region across Data Modernisation and ESG service lines and continues to manage its strategic accounts across the line of multiple businesses.

Commenting on the new office in London, Sid Banerjee, CEO of SG Analytics, said, “Our business continues to grow at a rapid pace, and the UK and Europe’s growth remains a part of our long-term strategy, and there is no one better equipped to lead these growth initiatives other than Simran. And opening a new office in Berkley Square is a fantastic plus in continuation of SG Analytics’ global expansion plans.”

“I am excited about our new office at Berkley Square House. It is at the heart of business activities. Our proximity to the global organizations will certainly help us strengthen our relationships and find solutions to their business problems. Being a thriving organization, we are geared up to make an impact for our clients, enabling faster & value-driven decision-making,” said Simran.

About SG Analytics: 

SG Analytics, a Global Insights & Analytics firm, focuses on ESG, Data Analytics, Investment Insights, Market Research and Data Modernisation services. With a team of over 1,100, the company has its presence in New York, London, Utrecht, Zurich, Austin, Pune and Hyderabad. 

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“Startups Employees Love” recognises workplaces that score highly on culture and people practices

Companies nominated for the awards include CRED, Groww, MEESHO, Slurrp Farm and many more

Winners to be announced at the company’s inaugural edition of The Startup Summit on August 10th, which brings together the foremost founders and leaders in the startup world to have deep conversations on scaling

New Delhi, July 28: xto10x, a scaling platform for growth-stage startups, recently surveyed over 50,000 employees across 150+ startups in a detailed culture study titled ‘Startups Employees Love.’ The study sought to understand what makes employees fulfilled at work, what their organisations excel at, and what needed focus/improvement.

As part of the “Startups Employees Love” awards, Indian startups with strong people practices will be recognised for their efforts to create a positive and employee-first culture. Awards will be given in three categories:

– People Excellence – organisations that rank high on overall employee Net Promoter Score (eNPS).

– Best/Most Innovative People Practices – Organisations that have built a strong business culture by implementing creative people practices

– Most Women Friendly Workplaces – Recognising companies that support and empower women in the workplace

CRED, Meesho, Groww, Slurrpfarm, and Acko are among those nominated for one or more categories. The full list of shortlisted nominees can be viewed here –https://blog.xto10x.com/nominees-for-startups-employees-love-2022/.

The survey results will be announced at the inaugural edition of The Startup Summit, to be hosted by the company on August 10th, 2022, in Bengaluru.

The summit is an initiative by xto10x to bring the top founders and leaders in the startup world on a common platform to have deep conversations on scaling. Starting this year, the company will host this summit annually. The theme for this year’s event is ‘Scaling through tough times,’ with the objective of discussing how to stay resilient and scale both during good and challenging times. Nandan Nilekani (Co-founder and Non-Executive Chairman – Infosys) will deliver the keynote address. The summit will also have a power-packed panel discussion featuring Binny Bansal (Co-founder, Flipkart and xto10x), Harsh Mariwala (Founder and Chairman – Marico) and Sriharsha Majeti (Co-founder and CEO of Swiggy) sharing insights on how to build resilient companies.

 “I am delighted to announce our flagship event – The Startup Summit 2022,” said Saikiran Krishnamurthy, Co-founder and CEO of xto10x. “In the past two years, the business landscape has undergone a massive shift. While providing firms with an opportunity to reinvent themselves, it also stressed that organisations must lay a solid foundation to become resilient. Our goal is to bring together industry leaders and entrepreneurs on a common platform to discuss best practices for building resilient organisations.”

In 2021, xto10x acquired SaaS-based HR-tech startup, Dockabl to expand their employee experience platform.

xto10x Technologies Pvt Ltd, which runs the scaling platform xto10x Technologies, has raised series A funding of $25 million.

xto10x was founded by Binny Bansal, Saikiran Krishnamurthy, and Neeraj Aggarwal in 2018 with a vision to help startups scale the right way. In addition to working with startups across all important verticals of their organisations, xto10x also provides a range of proprietary product solutions. It is currently the only company of its kind that caters to the burgeoning startup ecosystem.

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Shri Manoj Patodia, Chairman – TEXPROCIL

Sets a target of US$ 100 billion in textile export by the year 2030

New Delhi [India], July 28: An interactive meeting with stakeholders of the Cotton Textile Value Chain was held on 23rd July 2022, at Vanijya Bhawan, New Delhi, with representatives from the entire cotton value chain industry, along with Shri Narendra Singh Tomar – Hon’ble Minister of Agriculture & Farmers’ Welfare, Shri PiyushGoyal – Hon’ble Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Smt. Darshana V. Jardosh – Hon’ble Minister of State for Textiles and representatives from the Ministry of Textiles and Agriculture.

The main agenda was to discuss ways to increase productivity and improve the quality of cotton and the branding of Indian Cotton.

Participating in the interactive meeting Shri Manoj Patodia, Chairman – TEXPROCIL, appreciated the initiative taken by Shri Piyush Goyal Ji, the Hon’ble Minister of Textiles, to get all the stakeholders in the textile value chain from farmers, ginners, spinners, home textiles and garment producers on one platform to prepare a comprehensive road map to address the issues of quality, productivity and branding of cotton.

ShriPatodia stated that the time had come to adopt an integrated and industry-driven approach so that India’s pre-eminence in the Cotton sector in world markets is not only maintained but enhanced. Towards this end, a public-private partnership to improve cotton productivity, encouraging the adoption of drip irrigation by farmers by setting up a corpus fund, popularising high-density plantations and taking concrete steps to brand Indian Cotton were the need of the hour. ShriPatodia mentioned that these steps would benefit the entire textile value chain from ‘Farm to Fashion’.

On its part, the Government agreed to set up “State of the Art” laboratories for testing the quality of cotton, encouraging farmers to use good quality seeds through awareness programs and dispensing with regulatory practices.

Shri Patodia welcomed the full support extended by the Hon’ble Ministers of Agriculture and Textiles to all the initiatives taken up by the Industry, which will go a long way in enabling the textile exporters to take full advantage of the Free Trade Agreements (FTAs) being signed by the Government and facilitate achievement of the target of US$ 100 billion by the year 2030.

www.texprocil.org

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July 28: Tata AutoComp GY Batteries, one of India’s leading automotive and 2w battery manufacturers entered into an After-market tie-up with Tata Motors, India’s largest commercial vehicle manufacturer. The synergy between the two Tata Group entities will ensure a hassle-free battery buying and service experience for all commercial vehicle consumers across the country.

This unique association will enable Tata Green Batteries to be available for sale across the vast network of Tata Motors authorized dealerships and workshops. The batteries for commercial vehicle applications are co-branded with Tata Green Batteries and the Tata Motors logo highlights this partnership.

Speaking at the occasion, Mr. Ravi Gupta – CEO, of Tata Green Batteries said, “Tata Green Batteries has been one of the major OEM partners of Tata Motors for a long time with supplies to all major platforms of commercial vehicles. This landmark marks the extension of this relationship to the after-market space wherein it presents a great opportunity for both the companies for mutual growth by ensuring the best of services for the consumers.”

Commenting on the announcement, Mr. R. Ramakrishnan – Global Head, Customer Care, Commercial Vehicle Business Unit, Tata Motors said, “The growth of commercial vehicle industry is at a positive upswing in India. Today, customers seek all-encompassing solutions for their vehicles. With this strategic tie-up, Tata Motors’ authorized dealerships and service stations will be one-stop service solutions for vehicle batteries pan India. We are confident that this alliance with further strengthen a hassle-free experience for the consumers.”

About Tata AutoComp GY Batteries Pvt Ltd.

Tata Green Batteries (TGY) is a 50:50 joint venture between Tata AutoComp Systems and GS Yuasa Corporation, Japan. Tata AutoComp from the house of Tata is one of the largest tier 1 automotive components manufacturers and suppliers of many components to reputed OEMs around the globe. GS YUASA is the world’s largest two-wheeler battery manufacturer and Asia’s largest automotive battery manufacturer with strong OEM relationships and a worldwide presence across more than 20 countries. Today we supply to leading auto Original Equipment Manufacturers (OEMs) across Two-wheeler, Three-wheeler, Four-wheeler, Off-road and Genset, E-Rickshaw, and commercial vehicle spaces in India. We also have a significant presence in After Market across various segments like Passenger Cars, Utility Vehicles, Commercial Vehicles, Tractors, Off-Highway, Inverter, Solar& E-Rickshaw with a strong pan India network of more than 500 Distributors, 15000 retailers, and 25000 mechanics/ garages.

About Tata Motors

Part of the USD 109 billion Tata group, Tata Motors Limited (NYSE: TTM; BSE: 500570 and 570001; NSE: TATAMOTORS and TATAMTRDVR), a USD 34 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks, and buses, offering an extensive range of integrated, smart and e-mobility solutions. With ‘Connecting Aspirations’ at the core of its brand promise, Tata Motors is India’s market leader in commercial vehicles and amongst the top three in the passenger vehicles market.

Tata Motors strives to bring new products that fire the imagination of GenNext customers, fuelled by the state-of-the-art design and R&D centers located in India, the UK, the US, Italy, and South Korea. With a focus on engineering and tech-enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused to develop pioneering technologies that are sustainable as well as suited to evolving aspirations of the market and the customers. The company is pioneering India’s Electric Vehicle (EV) transition and driving the shift towards sustainable mobility solutions by preparing a tailor-made product strategy, leveraging the synergy between the Group companies, and playing an active role in Liaoning with the Government in developing the policy framework

With operations in India, the UK, South Korea, Thailand, South Africa, and Indonesia, Tata Motors’ vehicles are marketed in Africa, the Middle East, South & South East Asia, Australia, South America, Russia, and other CIS countries. As of March 31, 2022, Tata Motors’ operations include 86 consolidated subsidiaries, two joint operations, four joint ventures, and 10 equity-accounted associates, including their subsidiaries, in respect of which we exercise significant influence.

For more information, please visit www.tatagreenbattery.com.

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July 28: BigBloc Construction Limited, one of the leading players in the manufacturing of Aerated Autoclaved Concrete (AAC) blocks, Bricks and Panels, reported a consolidated net profit of Rs 8.43 crore (PAT Margin 15.18 per cent) for the Q1 FY22-23, growth of 590 per cent as compared to the net profit of Rs 1.22 crore (PAT Margin 4.32 per cent) in Q1 FY21-22.

Total Income during Q1FY23 was reported at Rs 55.60 crores, a rise of 95 per cent YOY compared to a total income of Rs 28.57 crores in Q1FY22. EBITDA for Q1FY23 stood at Rs 12.21 crore (EBITDA Margin 22 per cent), a rise of 268 per cent as against EBITDA of Rs 3.33 crore (EBITDA Margin 11.66 per cent) in Q1FY22. EPS for Q1FY23 stood at Rs 1.19 per share, a rise of 600 per cent Y-o-Y.

Incorporated in 2015, BigBloc Construction Ltd is the only listed company in the AAC Block Space in India and the largest in Western India. Green and non-toxic building construction material, AAC blocks are economical, lightweight, thermal insulation, soundproof, fire resistant with the superior build quality and saves energy, eco-friendly and economical too compared to the traditional bricks. It is the only company in this segment which generates carbon credits.

Commenting on the Performance, Narayan Saboo, Chairman & Managing Director, Bigbloc Construction Ltd, said, “We are pleased to announce that the company has achieved financial closure for the expansion at Wada, Palghar in Maharashtra. Despite a challenging economic and business environment due to COVID 19, the company has delivered a robust financial performance quarter over quarter, maintaining healthy growth in revenue and profitability and expects to continue the growth momentum in the coming years. Strategic growth initiatives, robust financial performance, new product launches along with operational efficiency are likely to contribute to healthy growth and maximise value for all stakeholders in the near to medium term. ”

The company is setting up a green-field facility of 5 lakh cubic meters per annum for AAC Block at Wada, Palghar in Maharashtra. Total Capex for the project is estimated to be around Rs 65 crores, and the company will be eligible for a 60 per cent subsidy for the project from the state government. The project is eligible for carbon credits. The company had purchased 38,000 sq. mtrs of land for a plant at Wada, Palghar District, Maharashtra.

“Looking at the progress of the plant, we expect to start commercial production at the Wada unit by December 2022 as projected. Construction for the factory building is going as per schedule; the company has placed orders for most of the plant & machinery and shall start receiving machines at the site by Sep-Oct 2022. Company is one of the largest and only listed players in AAC block segment and intends to become largest in forthcoming future.” said Saboo.

In addition, the company has also entered into a joint venture with SCG International Corporation Co. Ltd (SIAM Group) to set up a 3 lakh cubic meter per annum facility near Ahmedabad to manufacture AAC blocks and AAC panels. SCG is one of the largest cement and building material companies in South East Asia and will hold 48 per cent in the joint venture, with 52 per cent being held by Bigbloc Construction Limited.

India is the second largest block manufacturer in the World after China. The Indian AAC block Industry is almost entirely unorganised and has around 150-180 plants with a large number of plants, especially in Western India. The Indian AAC blocks market is expected to grow to Rs 11,000 crores by 2027, registering a CAGR of 14.3 per cent during 2020-27.

The use of AAC blocks is expected to grow stupendously in the coming years owing to increased awareness, growth in the infrastructure sector, preferences for low-cost houses amongst the builders and architects, and several beneficial attributes of AAC blocks over red clay and fly ash bricks.

The government’s impetus through numerous infrastructure & housing projects and regulations to use eco-friendly construction material under its net-zero carbon emission mission are the primary factors for the growth of AAC.

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