Tag: Business

Mumbai (Maharashtra) [India], March 22: Pioneer Embroideries Ltd (PEL), one of India’s leading manufacturers and exporter of value-added speciality polyester filament yarn (SPFY) and embroidery & laces, can cross turnover of ₹ 414 crores by FY 24 from ₹ 226 crores in FY22, according to a research report by ProfitMart Securities.

The report said that on the bottom line level, we expect the company to record a PAT of ₹ 13 crores in FY22, which is expected to bounce back to ₹ 16 crores in FY23 and ₹ 21 crores in FY24. Thus on a conservative basis, PEL should record an EPS of ₹ 5 for FY22.

The company management is confident of improving EBIDTA margins via operational efficiency and a better product mix. Looking at PEL’s steady financial track record, strong product domain and strong promoters, we expect the stock to get re-rated in future.

“We believe that the PEL stock should be purchased at the current price for a price target of around ₹ 75 over the next 12-18 months,” the report said.

The share is quoting at ₹ 50.10 on the NSE.

PEL has its manufacturing facility for SPFY at Himachal Pradesh & runs three embroidery & laces manufacturing facilities at Gujarat, Dadra & Nagar Haveli & Tamil Nadu. PEL owns two strong brands, “SILKOLITE” in the SPFY segment & “HAKOBA”, a heritage brand, in the retail segment for embroidered fabrics, garments, salwar kameez dupatta (SKDs) and sarees.

SPFY is widely accepted for many applications such as carpets, bath mats, upholstery fabrics, apparel, curtains, medical textile (Anti-Microbial), furnishings, narrow fabrics, knitting, labels etc. PEL also has exposure to technical textiles like flame retardants yarns, recycled yarns, anti-microbial yarns, UV stabilised yarns and other fancy yarns capable of replacing natural fibres like cotton, viscose and wool.

SPFY contributes around 90 per cent of the top line of the company, and where the company expects demand to grow significantly over the next 2-3 years.

To capitalise on the growth potential of the SPFY segment, PEL has chalked out aggressive Capex plans ahead.

PEL had earlier announced a Capex program of ₹ 58 crores for increasing the SPFY capacity by 8,000 tpa, which will be fully operational from Q4FY23. The funding for this Capex will come from internal accruals to the tune of ₹ 18 crores, rupee term loans of ₹ 25 crores and FCTL/ equipment finance of ₹ 15 crores.

As per the company, it has already placed the order for major equipment with a Germany-based manufacturer of quality textile extrusion equipment, along with advance payments, which would enable it to secure delivery by Q3 FY 2022-23.

Recently, the demand for garments with embroidery is more than that with prints in ladies and girls’ apparel. Embroidery is favoured over the prints because of its eco-friendly characteristics. Home furnishing products like bedsheets, tapestry, bed linen, kitchen linen etc., are also more demanded with various traditional embroideries.

The market size of the Indian embroidery is slated to be approximately ₹ 800-900 crore per annum, and the embroidery market of India is increasing at 20 per cent per annum, the report said.

Textile exports are also another area offering good growth prospects and robust export demand from the US, aiding textile sector growth along with the Government support to the textile industry with buoyant policies.

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Cryptocurrency’s popularity has not only attracted investors but has also attracted fraudsters who leave no chance to exploit the opportunities that revolve around scamming individuals and enterprises. Scams involving cryptocurrencies have exploded in recent years because of the cryptocurrency boom. “Therefore, it is very important for an investor to educate himself and think twice before getting involved in any project that seems too good to be true”, says Advocate P.M. Mishra, Managing Partner of Finjuris Counsel FZ-LLC, UAE, Finlaw Associates, India, BCH Consulting, Europe.

As per Adv. P.M. Mishra, Crypto scams are broadly classified into Social Engineering Scams and Investment Scams.

Social Engineering Scams: In this type of scam, scammers employ psychological manipulation and deception to obtain access to sensitive account information. People are led to believe that they are working with a trustworthy institution, such as a government agency, a well-known corporation, tech support, a concerned citizen, a coworker, or a friend. Obtaining trust is the essential aspect of scamming in such a situation. Following are the categories that fall within the ambit of social engineering scams:

• Phishing: Scammers who use this method to scam people usually send an email that directs recipients to a custom-built website where they must submit private key information. Once the hackers obtain this information, they proceed to steal the cryptocurrencies stored in the wallet.
• Honey Trapping: The scammer entices the victim and makes them believe that they’re open to staying in a long-term relationship with the victim. After the trust is gained, the subject of profitable cryptocurrency prospects and the ultimate transfer of either funds or account authentication credentials frequently comes up in conversation.
• Extortion: Scammers use the method of blackmailing to extort vital information regarding an individual’s crypto wallet. They claim to possess a database of the user’s visits to pornographic websites or other unlawful websites and threaten to unmask them unless the user shares their private keys or transfers cryptocurrency to the scammer.
• The “Influencer” Scam: Many fraudsters pretend to be celebrities and influencers who pledge to replicate or multiply the cryptocurrency supplied to them in what is known as a giveaway scam to entice potential victims.

Investment Scams: Investment scams usually take place when a business opportunity sounds too good to be true. Profit mongers usually fall into this trap because they are made to believe that they would gain guaranteed returns on investing a huge sum of money in the business. Many crypto-related Ponzi schemes function in this manner. Investment scams include:

• NFTs and ICOs: Although cryptocurrency-based investments and business possibilities may appear to be lucrative, that’s not necessarily the case. Some scammers, for example, establish bogus ICO websites and advise people to deposit cryptocurrency into a hacked wallet. In some cases, the ICO itself may be to blame.
• Cloud Mining: Retail buyers and investors will be marketed via platforms in order to assure a continual stream of mining power and profit. These platforms do not genuinely possess the hash rate they claim to own, and they will not provide the benefits once you make a deposit.
• DeFi Rug Pulls: The creation of DeFi platforms has its own set of issues. Through such channels, bad actors have gotten their hands on investor funds. This activity, known as rug pulling, has grown in popularity as DeFi protocols have become popular among crypto investors looking to increase profits by seeking out yield-bearing crypto assets.

Scammers will definitely continue to target the crypto ecosystem as it grows in size and complexity. You’ll be able to spot a crypto-related scam early and avoid it from occurring to you if you know the typical ways fraudsters try to steal your data and money. Therefore, it is very important to know how the crypto markets function legitimately and how to not get lured by attractive investment schemes.

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Offers Fans an opportunity to procure unique and unseen innovation of their favourite artists at a 10% Discount, when purchased from nOFTEN NFT Marketplace using NOF token

Mumbai (Maharashtra) [India], March 22: One of the Biggest Marketplace nOFTEN NFT (non-fungible token) which is considered as a haven for celebrities and artists to introduce their collection of artworks, is now offering NFT’s for Indian boxing champion Mary Kom, Indian field hockey player Manpreet Singh, Indian professional boxer Vijender Singh, Rappers like The Game, YouTube personality Amit Bhadana along with top-notch models and many other celebrities from Bollywood, entertainment, music, and sports industry.

nOFTEN’s aim is to get fans connected to their favourite artists’ unseen innovation. As a marketplace, nOFTEN allows users to create, buy, and sell NFTs, which are unique digital tokens that certify ownership of virtual assets, including artwork, music, gaming, sports, and other digital collectibles. NFT’s transform digital works of art and other collectibles into unique and verifiable assets that are non-replicable and can be traded digitally. To make it more simple, Individual artists list their exclusive NFT’s on the nOFTEN marketplace. This can be anything like access to VIP passes for their shows, personalized acting classes, a snapshot of the favourite dialogues that stole your heart, a shout out to your loved ones, or their exclusive merchandise that’s available exclusively for the nOFTEN users. The artworks are very close to the heart of celebrities and is very different from the other stuff available on other NFTs platforms. UsingNOF tokens, fans can now buy unique and unseen innovations of their favourite artists at 10% Discount, when purchased from nOFTEN NFT Marketplace. NOF tokens are trading on the Lbank.info exchange.

“NFTs are the next big thing. Indian and international celebrities and artists are becoming part of this unique community, which shows the tremendous interest in NFTs in India. We are now launching unique artworks of many Sports, Bollywood, Music and Entertainment celebrities and aim to position nOFTEN as the go-to marketplace for authentic, legit and traceable celebrity NFTs,” said Constantin Aurin of nOFTEN.

nOFTEN is built on Etherlite blockchain- the fast, scalable, low fees blockchain. It will enable nOFTEN to be more accessible to NFT users saving on exorbitantly high fees and transaction lag as being faced on other NFT Marketplaces.

“nOFTEN is creating a new definition of how celebrities and collectors engage and collaborate with each other. The marketplace will ensure personalised and curated experiences by artists, multiple options of trade-off for fans and collectors, and integration into an established blockchain,” Constantin Aurin added.

nOFTEN is also planning further to signup many more global celebrities, leading fashion designers and leading singers from the world in the coming weeks and months.

For more information, kindly visit the website https://noften.com

Social Media Links

Twitter:https://twitter.com/noften_nft

Telegram: https://t.me/nOFTEN_Official_Community

Discord: https://discord.com/invite/JqzfV2jahe

Instagram:  https://instagram.com/noften_nft?utm_medium=copy_link

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New Delhi (India), March 21: The Indian marketing industry went through a complete make-over during the new covid era, we learned the new culture of work from home, online teams meet, and the growth of the digital marketing industry gave birth to a refined new hybrid model of marketing that brands adapted to for a smooth ROI driven transition.

The last two years have been challenging for Vanilla BTL Agencies who did not re-invent themselves. On the other hand, for a select few, Covid was merely a small hiccup that forced them to go back to the drawing board and re-invent.

“During Covid, there was a drastic change in conventional methods used by brands earlier to interact and reach their Target audience. BTL was no longer effective, going digital completely was not the solution, there was a gap in consumer connect, and that’s how when Brands understood the power of Hybrid Agencies,” says Neha Dhingra, Co-Founder of Trending Alive.

Trending Alive is a Boutique Hybrid 360 Degree Marketing Agency based in Kolkata, with offices in Mumbai and Guwahati. In five years, the agency clocks a turnover in Millions without external funding. No Tactics, No Shortcuts, ROI-driven Marketing that fetches Results, that’s their motto. Larger agencies will always take time to adapt; they are process-led and largely dependent on internal structures and administration; trending Alive is a market disruptor, quick to adapt and innovate. They launched over 150+ stores across India following Covid protocols, and most of them delivered terrific sales figures. Today they have clients Like ABFRL, RBL Brands, Reliance Retail, RPSG, Tata Motors, FRL, Pantaloons and many more as clients who trust them for their store, product and new market launches.”

“We have been extremely blessed to have worked with over 300 plus brands that trust us for various services. We are proud to be among those very select few Niche agencies that support Brands by offering end to end service, starting from finding the perfect research and analytics-Led retail space search in expansion to Launching your space using the most innovative Hybrid Marketing Plan, which is a mix of BTL plus Regional Influencer Campaign and post-launch sustenance and Public Relations,” explained Prateek Dhingra, Founder Trending Alive.

Trending Alive re-invented, customized and changed the rules; Vanilla BTL no longer fetched results. Hence, they designed customized campaigns that were a mix of Digitally enhanced BTL marketing which Influencer Marketing armed, Performance Marketing, Thoughtful Customer Engagement Events and Niche Regional Public Relations.

Innovation and Flexibility are the two main pillars of success for Hybrid marketing; we are Tech Savvy, we like to Innovate, and instead of following trends, we like to make our trends. We recently conceptualized and executed a mass Influencer campaign with over 200 plus influencers for an FMCG Brand taking it to live in under 48 hours notice for Holi, which clocked 10,000,000 impressions and organic reach of the brand 4x in under 24 hours.” says Neha Dhingra.

We are highly dedicated to the Retail Market Needs. We have a Special Needs Vertical under “Trending Consults” that primarily looks after Space and Expansion Planning Pan-India, Starting From a Small Box Format to Large Mall Allocations We Consult our Retail Partners on end to end Expansion and Location briefs. In Less Than 24 Hours, we can today facilitate over 2000+ Real Estate Inventory of Metro or Tier 2 cities in no time with definitive Data to support the analytical Facts supporting Growth.

One such Key market with High Retail Interest is North-East India, as a Market is still unexplored. Only a select few have the proper consumer connect and market penetration or a well-researched Retail Space Expansion Plan for the seven sisters states. They believe themselves to be the bridge connecting brands with untapped markets with great potential. They recently launched Forever 21 for ABFRL in Imphal, and it was a Hit. They had over 300 plus people Queuing outside the store on the launch day, and they couldn’t have been happier. They have earlier delivered successful campaigns for brands like Central, Smart Superstore, Big Bazaar, Sodexo, Vivo, Samsung with their Product launches, Stores and Regional Campaigns across the Northeast. It’s only the beginning for them; owing to fewer restrictions and the opening of markets, they are hoping to develop more innovative and disruptive Campaigns for many Brands.

A more joined-up approach is required if consumer needs and demands are considered. Today, hybrid Agencies using the power of data, Location Placement, performance marketing, influencers, and integrated on-ground campaigns is the Future of modern Agile Expansion and Marketing.

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Mr. Ajay Mokariya, MD, Shree Maruti Courier Services Pvt Ltd

The company is discontinuing the hardcopy of consignment notes for the retail booking w.e.f. April 01, 2022 to save 8,000 kg paper and lots of trees

Ahmedabad (Gujarat) [India], March 22: Shree Maruti Courier Services Pvt Ltd, one of India’s leading courier and logistics firms, has taken up a Digital Transformation journey in an endeavor to deliver faster, safer, and more efficient services to its customers. With an aim to ‘Save Papers to Save Environment’ vision, the company is bringing to an end the hardcopy of consignment notes (CNs) for the retail booking w.e.f. April 01, 2022. The retail customers will now get copies of CNs in digitized form on the platforms like Whatsapp and Email. With this initiative, the company will save around 8,000 kg paper and a big number of trees. Shree Maruti has planned a series of initiatives to discontinue the use of papers and opt for more digital solutions in the coming years.

Speaking on the initiative, Mr. Ajay Mokariya, Managing Director, Shree Maruti Courier Services Pvt Ltd said, “As a company, we are focused on making our customers’ life easy with the adoption of environment-friendly and tech-enabled solutions. Reducing your reliance on paper allows you to create a more sustainable business. We believe Digital Transformation presents plenty of opportunities and has enormous potential for our industry. Our next phase of digitalization is about accelerating adoption of new-age technologies across the business to achieve enhanced speed, efficiency, and flexibility to keep pace with today’s demands.”

Shree Maruti has developed a state-of-the-art IT platform that helps it deliver a great customer experience at every touchpoint. In the second phase, the company will stop using/minimizing physical Delivery Run Sheet (DRS) copies. The last mile deliveries will be done through Digital Delivery i.e., it will perform digital deliveries through MOB. This can be treated as Digital Delivery System (DDS). In the coming days, Shree Maruti is planning to minimize the usage of hard copies of Consignment Notes in credit booking and also hard copies of monthly invoices in credit booking.

“Worldwide consumption of paper has risen by 400% in the last 40 years, with 35% of harvested trees being used for paper manufacturing. Paper production is the third most energy-intensive of all manufacturing industries. With the paperless initiative, we are aiming to achieve 100% digitization in our retail and corporate. The strategy aims to identify all the primary manual processes that require the usage of paper and render them 100% digital”, added Mr. Mokariya.

The global consumption of paper and board amounted to an estimated 399 million metric tons in the year 2020. It is expected that demand will increase steadily over the next decade, reaching approximately 461 million metric tons in 2030. According to a study, 70% of the total waste in offices is made up of paper, and as much as 30% of print jobs are never even picked up from the printer. On average, companies completely lose around 7.5% of all their paper documentation. Paper consumption grows by 22% a year, meaning paper costs double every 3.3 years.

Being one of the leading courier and logistics companies, Shree Maruti Courier strives to come up with new ideas that set a new benchmark in the industry. Last year the company had launched an eco-friendly delivery service using Electric two-wheelers in five cities in India. With this, it became the first company in the courier and logistic sector to initiate a novel concept of creating a green energy supply chain. This pilot project received huge accolades from the industry experts which has inspired the company to take E-bike adoption to the next level. Shree Maruti is planning to add more E-vehicles in its fleet in metros and major megacities to reduce the fuel cost significantly, contribute to reducing carbon footprints, and provide competitive services compare to the traditional delivery tools.

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New Delhi (India), March 21: Who says that a revolution always needs shouts and sounds? A movement backed with the purpose of helping all entrepreneurs and businessmen grow does not require any slogans to create this revolution that Hitech Billing Software has created in very little time. The passion to simplify the billing cycle and to solve the problem of time engagement in billing has continuously motivated team Hitech to innovate and add in new features. And as a result, they came up with such an efficient and effective solution for all sorts of billing. Not just a billing software, it is a complete business management software.

Hitech billing becomes Local to Global in just 10 years 

After catering to the Indian businesses and solving their billing problems most cost-effectively, Hitech billing software launched its global version, which catered to more than 180 countries and was made in line with the govt rules of all the countries.

The story behind the Success

While working with many entrepreneurs, founder Sanjay Nagaut and his team find a gap in the billing software market. Most of the software available comes with a steep learning curve or requires specialized operators. Team Hitech started intensive market research to understand the requirement of businesses and looked for the problems in billing which is being faced by different sectors, and then the journey of solving all billing problems started, which resulted in Hitech Billing software.

For the past 10 years, Hitech billing software has been serving the market of India and has solved the billing problem of millions of people. Now Team Hitech billing has reached in the global market with the vision to digitalize the billing of whole world entrepreneurs. The vision of the founders was to give businesses access to world-class technology and the power of business management practices which helps businesses to grow with the help of advanced artificial intelligence and machine learning. Hitech’s advanced data processing engines help companies make better decisions and increase their viability.

Hitech billing software is changing the way people do business.

Being competent workers, we haven’t developed anything to come out of traditional billing standards? That is where change has to be done, and Team Hitech has done that only. Understanding the minute details of the business, every aspect of this software has been made and that too in such a user-friendly manner that if your business was not running in a proper system earlier then also after using Hitech billing software, automatically the system will fall in place.

Helping businesses globally without taking any outside investment 

The biggest thing about this venture is that for the last decade, Hitech billing software is helping India, and now it is spreading its wings globally without any outside investments or funding.

The mission and motive of this movement is to power prosperity around the Businesses.

The mission of Hitech billing is to support the success of businesses across the country through the power of technology, and the kind of solutions they are offering are just creating value for the businesses using this software.

• Hitech billing software solution promotes self-service and empowers every businessman with real-time insights to run the business.
• Hitech, standing by the name, is an aspiring high-end technological billing software solution. We aim to build a comfortable billing platform for business owners and thereby removing barriers to success.
• Hitech solutions bring in software and other services together. So, whatever your requirements are, we have a solution that can help. Whether you’re self-employed or a business owner, we’re in your corner to help make your dreams of prosperity come true.

 These Features of Hitech billing software are empowering Entrepreneurs around the world 

• Hitech billing aims to provide smart, powerful billing software that reduces the cost and time of processing for self-employed and businesses.
• Hitech billing administer and manage our Sales, Purchase, Goods and Service Tax, Inventory, Multi-size Invoices, SMS / Email and provide communications platforms, thereby ensuring a complete exchange of all electronic transactions between clients, vendors, logistics providers etc.
• Hitech was founded in 2010. For the last decade, we have worked on many projects related to enterprise resource planning.
• Team Hitech deep experience in enterprise resource planning gave us the confidence to launch our series of products which brings complete business management software to the doorstep of users.
• Since the beginning Hitech goal was to simplify complex billing world problems with high-end technology and data-driven research. And they are still pursuing that goal.

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March 21: The largest free-range chicken farmers in Central India, Rainbow Fresh, are all set to take the huge and unorganized meat market in India to a whole new level. Realizing the great scope of this essential service business, they not only have plans to expand in cities all over India but also are on a mission. A mission to educate people across India about exotic chickens and their health benefits.

Founded and established during the upsurge of the first wave of coronavirus pandemic in 2020, by brother and sister, Dr. Faza Siddiqui and Fahad Siddiqui, the company is running successful operations in Bhopal and Sehore. Also recognized as the largest in-house free-range chicken farmers in Madhya Pradesh & Chhattisgarh, the owners and founders believe they are only getting started.

“We began selling desi eggs, some other exotic chicken and egg range at genuine prices through our farm outlet in Sehore, Madhya Pradesh. We cannot express how elated we felt on selling for the first time through our farm outlet. It was Christmas that day! A day of magic and miracles!”, shares Fahad Siddiqui, one of the owners and co-founder of Rainbow Fresh.

Exotic chicken or desi chicken refers to a native flesh usually healthier and powerfully enriched with protein. It tends to give more strength to the body as compared to the regular chicken. It is a top flesh in health, tastes delicious, has a great aroma, is toxin-free, and helps in boosting immunity.

Rainbow Fresh has been operating in the capital of Madhya Pradesh, Bhopal for over 1 year now. During this time frame, they have successfully served over 5000 customers in the city. In the coming months, they plan on capturing the whole city and nearby areas of Bhopal.

Sehore, a district just 50kms away from Bhopal is already under their radius. The owners, Fahad and Faza Siddiqui established their farm in town soon. They began operating the farm in December 2020.

While Fahad’s sister, Dr. Faza Siddiqui is a Specialist in Dental Surgery & holds experience of 8+ years in her field, Fahad is a Computer Science engineer by education. He previously worked in the Market Research & Internet Media Domain for 4 years. Unfortunately, the onset of the coronavirus pandemic completely shattered his dreams of expansion as it led to the collapse of his IT startup. So, the owner shifted his complete focus on making his business, Rainbow Fresh, successful.

“The full-fledged setup and construction of our farm outlet took up to one year. The escalating pandemic conditions left us at a standstill for almost 4 to 5 months. Meanwhile, the construction product prices in the market skyrocketed. This was one of the biggest hindrances we faced in the beginning” he added.

Rainbow Fresh has become a trusted choice of thousands of Desi Chicken lovers in Bhopal & Sehore. Their quality chicken and organized selling structure will surely make them the ultimate game-changer in the Indian market in the coming years for sure.

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New Delhi (India), March 21: On 21st March, as the world celebrates down syndrome day, Sunshinebaby products proudly talks about a Campaign they have initiated to bring in awareness of “Intellectually Challenged“ kids with a motive of inclusion and to provide employment opportunities. Sunshinebaby products & SWASTHA Institute, A TATA coffee foundation, inaugurated a campaign on “Special Kids Awareness” on the 26th February 2022 at SWASTHA Institute in Suntikoppa, Coorg.

The awareness program will be done through social media & packaging materials that carry a message about kids with special needs. Hoping to make a difference from the second the package leaves their warehouse until it reaches the customers’ doorstep or even further.

The art students of SWASTHA have painted Sunshinebaby gift boxes which will be sold on the website and social media page of Sunshinebaby products. 100% of the amount earned by selling these gift boxes will be given to the child who has painted the box through SWASTHA.

While TATA coffee through SWASTA is generating employment opportunities, Sunshinebaby has taken the initiative to show its creative side to the world. Providing them employment opportunities is the need of the hour & they are extremely thrilled to have started to help this cause.

Their intention to get them to paint slightly distressed gift boxes is to portray & understand that with proper training, people with disabilities can be one of us. They can be as useful as any other child & most times even better.

Sunshinebaby products is a brand of baby clothing that caters to infants & toddlers with a range of 100% organic muslin cotton products. Sunshinebaby products is a one-stop shop for all premium quality muslin cotton baby clothing, newborn essentials & accessories!

Sunshinebaby makes sure style & comfort begins the moment the baby arrives.

Motherhood changed for these 3 new moms as founders. As mothers & working professionals, Diya, Shishik & Lakshmi decided to start off a brand to bring in premium styles with imported quality cotton clothing/accessories at an affordable range.

As new moms themselves, they never wanted to compromise on quality. The moms at Sunshinebaby have tried & tested these clothes on their babies before putting it out in the market.

Hailing from Coorg in Karnataka, these 3 women are firm believers in saving the planet. They promote reduced diaper usage & reduce wastage.

This is what the 3 women have to say” We love what we do & have been making a difference to moms since 2019. Our strive to reinvent ourselves has been the factor that keeps us going. We urge moms to make that choice, go organic on your sunshine”.

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Mr. Mukund Mehta, Chairman & Managing Director of Kilitch Drugs

New Delhi (India), March 21: Kilitch Drugs India Limited is a Leading MSME multinational manufacturer of Injectables in India and Ethiopia. Kilitch has purchased 15 Acres land parcel in Village: Maldev, Taluka: Pen, on Pen – Khopoli Highway, Maharashtra, as the beginning of its expansion plan.

The land bought by the company will be used for establishing a state-of-the-art greenfield pharma manufacturing complex. The company plans to set up 4-6 manufacturing units in different therapeutics categories to cater to the growing demands in Domestic and Exports markets. The expansion will be in a similar line of products like Injectables and other Biotech products. The project envisaged is futuristic and shall have maximum recognition of the world’s leading regulatory authorities.

Commenting on this Mr. Mukund Mehta, Chairman & Managing Director of Kilitch Drugs, said, “We are on a growth trajectory and demand for our products is increasing. This expansion will help us to fuel our growth plan. This will be an ultra-modern facility, and the capex requirement for this facility will be in tune of approx. Rs. 100 Crore.

We are planning to fund the capex mainly through internal accruals, and it will be in a phased manner. We are looking for a horizon of 2 years to commence commercial production of Phase I. Once the total expansion is complete, it will generate a Revenue opportunity of approx. Rs. 500 Crore.”

Established in 1978, Kilitch Drug (India) is a successful pharmaceutical solution company. The company has a major focus in the African region and have a strong foothold across key African countries, with 350 products in 26 African countries.

The Company has a manufacturing plant located in Mumbai with a dedicated dry powder section and small volume liquid ampoules and vials. In 2018 the Company started a greenfield project in Ethiopia for Cephalosporins Injectables. The Company’s manufacturing plants are certified by WHO, WHO GMP, ISO 9001, ISO 13845 etc.

The Company’s strong clientele includes Intas, Mankind, Indoco Remedies, and a few.

For FY21 the Company has achieved Total Revenue of Rs. 74.21 crore with PAT of Rs. 6.16 crore.

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New Delhi (India), March 21: BSE (560961) & NSE (VIKASECO) listed Vikas Ecotech Ltd. an emerging player in the global arena of the high end specialty chemicals players, offering eco-friendly and technologically superior products to the world has announced that on persistence and support extended by the promoters of the Company, it has paid back Rs. 60 million today, taking the total amount of bank-debt reduced in the Phase-II to Rs. 360 million and the overall bank-debt reduction to Rs. 580 million till date.

After completion of both these phases, and intended additional bank-debt repayment, bank-debt shall get reduced by approx. 55% from the peak exposure, paving the way towards becoming a ‘ZERO Debt Company’ in 2023.

Recently, Vikas Ecotech had informed exchanges that it has been diversifying to newer markets with innovative products.

As a measure of backward integration, the Company has commissioned a Steel Pipe Fittings plant, which after trial production, went into commercial production almost 2 months ahead of schedule.

Earlier the company from its Specialty Chemicals & Compounds Business division, had recently secured fresh orders valued at about INR 65 million, adding to the healthy order book with more than 700MT of orders which will be contributing to the performance for the current financial year, closing the current fiscal with exciting numbers. The order book consists of new up-graded versions of materials developed by the Company for renowned national and international brands keeping up with the ever-changing fashion trends and performance pre-requisites updated regularly by the footwear industry. Company’s esteemed customers include renowned OEM Suppliers for fashion Brand “Zara” namely – Bitufelt & Tej Shoetech; and “Clarks” namely Unisol India; apart from the regulars like Relaxo Footwears and many more.

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