Tag: Business

November 25: Urbanization is on rapid bloom. Whether it is a trend or mere a need, the population has been moving towards urban cities with new hope and better life. As per an article published by the UN, it is estimated that about 68% of the world’s population would live in urban areas by 2050. With such growing urbanization, homeowners are desperately hunting for better services, opportunities, and not to mention space! Yes! The space where they can unwind, enjoy and live to the fullest. And what better scope to revolutionize every inch of space in the home than designing its interior so much so that it adds value. According to reports, the interior design industry is going to grow more than ever before and is expected to be worth Rs. 1.5 – 2 lakh crore in the near future.

Today homeowners are going sustainable in their own right so as to cope up with the effects of urbanization. Starting from their very home, sustainable interior designing is a way better idea. With the help of the latest technology and smart interior solutions, one can minimize the use of energy whilst making most of natural light. “We at Lofy Interior Solutions smartly opt for most energy-efficient furnishings that only helps save money, space and energy but also makes an embellishing statement with envy-inducing design par excellence,” added Mr. Taral Shah, MD, Shivalik Group.

“Interior design is an indicator of time, of prevailing trends and of mutual consciousness. Rather an art coupled with technology intertwining in innovative ways. Our team of interior designers rightly amalgamate innovation and creativity in every home décor. Our 3D visualization technology helps clients to get a proper feel of how their home will look, thereby allowing them to decide the most suitable interior ideas.  With a range of custom-fitted interior solutions, we provide cutting-edge interior services,” said Mr. Taral Shah.

These days, interiors are taking the centre-state as people do not want to own just a home but rather aspire to remodel it with the help of innovative interior designing methods. “Our architects and interior experts are deeply aware about our client’s well-being, their choices and requirements. We carefully analyze how we can help our clients achieve their desired interiors at the most family-friendly value without zero compromises. Thanks to our design masterminds who have captivated scores of clients with unprecedented results, “he added.

Having more organic shapes inside our homes is a prevalent fad. Flexibility is another aspect that has arisen out of work from home during the lockdown period. In this regard, both living areas and working space must co-exist. Smart interior designing is the only option that can transform one’s home that fits the bill.

Founded recently as forwarding integration of one of the most reputed realty players, ‘Shivalik Group, Lofy Interior is committed to creating comfortable yet exceptional home décor that gives enduring pleasure. Backed by a team of experts from the budget, designing and project management, our meticulous care and attention results in bespoke interiors that transcend time and space while being precious with age.

November 24: NSE and SEBI have organized an online seminar on “Long Term Safe Investing in Stock Market” during the celebration of World Investor Week. Here, CA Govind Jhawar from Finideas highlighted secured long term investments in the stock market. He said that one could create good wealth in the stock market with long term investment as we create wealth in Property.

When we talk about long term investment, we first think of property. The main reason for this is that its price never becomes zero and sooner or later increases. Instead, if we consider a long-term investment in an individual stock, there is always an apprehension that maybe that the company may perform in the future or not? That is why we can’t rely by investing in any Individual company. You know what has happened to companies like King Fisher Airlines, Suzlon etc. So, the thing comes that where to invest for a long term in the stock market?

On finding the answer, our focus shifts to Nifty50. If we invest for a long time in Nifty, we can get good returns. The reason is that Nifty50 itself is a portfolio consisting of the top 50 companies listed on NSE. Moreover, it is also a self-management portfolio which means that the company that performs will remain in this portfolio or else it will be out. Once there are many companies of Anil Ambani Group were part of the Nifty. But as soon as their performance decreased, they got out. This means, as long as there are 50 companies on the NSE, Nifty can never be zero. On the other hand, It always keeps performing companies in his portfolio. So, as India’s economy grows, our investment in Nifty will show us good returns.

But still, a fear sets inside us. That is, Nifty will also fall in the worst market scenario. In 2008, Nifty had fallen by 52%. What about the security of our investments in those times? So, the answer is also present on NSE, and that is Insurance. Just as insurance is available for car, health, property, life insurance is also available for Nifty. Such insurances are called options in the market language. Calls and put options were born to insure wealth if the market does not move in our favour. However, it is a different matter that today 80% of the volume on NSE comes from options trading. The advantage of put options is that when the Nifty falls, its price increases. This means that after investing in Nifty, if we also buy put option as its insurance, then our capital remains safe. Here the put option works in a similar way as all other insurance works. Just like we get a claim on a car accident, we get back the lost money as soon as there is a recession in Nifty. So, all in all, when the market rises, we get the benefit of the growth of Nifty, and our portfolio also increases, and when the market falls, our capital remains safe and can never lose more than the premium of the insurance.

If we think that taking big risks in the market gives a big return, then it is a superstition. If the big return comes through a big risk, I’ll open a stationery store and start selling people on credit. Took a big risk? Should we see bigger returns now? You would say forget about the returns; it is a big deal if the customer himself comes back. Either it is stationery or stock market business, only a smart calculation gives us good returns.

We will automatically get good returns in the long run, even if we focus on reducing the risk. We had a focus on this concept and did research. We got great results. The money of a person who has invested only in Nifty has increased his wealth 13 times in the last 18 years. While the capital of those who invest in Insurance has increased 22 times. On the other hand, the capital of Nifty’s investors had lost 52% in 2008. But even at such a time, the capital of those who took the insurance of put option with Nifty did not break more than 5%. This insurance called put option gives us peace of mind even in a recessionary environment.

If we use a little more cleverness and use Futures contact also in the portfolio, our returns will increase even more.  If we invest 30% in nifty ETFs, 70% in Nifty futures and also take insurance of this entire investment, then we can earn more return in less investment. In the last 18 years, people have made returns on an average of 19% per annum by investing in this way. More information on this type of investment is available on the Finideas website at https://www.finideas.com/

The fund manager Mr Govind Jhawar is a Chartered Accountant and Certified Treasury Manager. He is associated with the market since 2001 and has been teaching the people through various courses in the derivatives market since 2006. Our company Finideas is associated with more than 75 members of exchanges like NSE, BSE and MXC and provides multiple services related to the derivatives market to them.

Hyderabad (Telangana) [India], November 23: Azad Engineering Pvt Ltd, a Hyderabad based market leader in Precision Engineering, a company that caters to the Energy, Aerospace, Heavy Machining, and Oil & Gas Global OEMs, is in the process of setting up its 3rd state-of-the-art lean Manufacturing Facility & Centre of Excellence of Global Standards at Tunki Bollaram, Medchal Malkajgiri District of Telangana.

The company recently laid the foundation stone at the site and plans to invest over Rs 500 crores over the next 3 years on this plant. Spanning over an area of 23.45 acres, in a phased manner, this facility will create a one-of-its-kind precision manufacturing eco-system that will feature Uber- Smart, Lean and Modern Shop floors with the most advanced manufacturing technology and will showcase cutting-edge futuristic technologies such as Industrial Artificial Intelligence, Robotics, Digitization, Lean etc. The company is also planning to acquire IGBC Gold Rated Green Building certification for this Plant. The construction of the first phase of 30,000 sq meters will be completed by July 2022. Hence, this facility will be operational by Q2FY23 and will primarily manufacture and export supercritical components for Global OEMs in the Aviation and Power Generation Industry such as GE, Mitsubishi, Siemens, Toshiba, MAN, Doosan Skoda, GE Aviation, BOEING, HONEYWELL, EATON, RAFAEL, BHEL, HAL, Baker Hughes among others. Besides, the setting up of this Plant will benefit the local communities in and around its vicinity as it is expected to create employment opportunities for around 1000 people.

Speaking to the media, Rakesh Chopdar, Managing Director, AZAD Engineering, said, “Setting up this 3rd plant is part of our strategic initiative to significantly scale up our manufacturing operations by investing in world-class, Industry 4.0 lean manufacturing facility to cater to the demand of our esteemed global clientele. We are very excited for this new phase of our growth, and so we are investing in creating a facility that will feature unique capabilities in Precision Forging, Sheet Metal Fabrication, HVOF, TBC, Thermal spray Coating, EB Welding, Chemical processing (NADCAP), Metal Joining (NADCAP), Non-conventional processes (NADCAP), Fluid distribution system (NADCAP), Facility for – ETF / ITF and specialty fasteners, Testing laboratory (NABL) along with Robotics and automation to name a few.

It took us years to clear all the major stringent entry barriers, and now is the time to ramp up the scale of production to meet the demands. AZAD is all set to witness rapid ramp-up in the top line with each of its clients, given the qualification process is already completed and all the business contracts/orders are in place. We are all set to grow a CAGR of over 50% over the next 5 years with an impressive and sustainable bottom line.

AZAD Engineering Pvt Ltd was established in 2008 by first-generation entrepreneur Rakesh Chopdar, Azad Engineering is a world-class manufacturer of highly engineered, complex, and supercritical rotating components for niche turbine and aerospace industry used for Power Generation and Aircraft OEMs. Years of combined experience and relentless pursuit of economical solutions to complex and critical manufacturing challenges have positioned Azad as an industry leader with a clear monopoly in India & catering to the world, Azad is still the ONLY qualified rotating component manufacturer in India for several high-end technology turbines to many OEM’s. Azad, over the last few years, has focused on securing qualifications and today stands qualified for all models and frames for its client base, making it the only qualified partner for its product line from India. A typical qualification process lead time is typically 3-3.5 years for a new entrant, Azad’s focus on qualification has not hindered their healthy CAGR growth of 15% since its inception.

Azad, an end-to-end solution provider, has established itself as a one-stop partner for reputed global power generation & Aerospace OEMs. The company expects to deepen its relationship as a preferred partner and continue to enjoy the flagship position with a new facility coming up over the next 18-24 months. ​

Earlier in the month of June’21, Azad Engineering had successfully closed its first round of funding of USD 20 Mn from DMI Finance Pvt. Ltd, a Non-Banking Finance Company (“NBFC”) founded in 2008, whose core businesses include wholesale finance.

With a mission to put India on the global radar, Azad Engineering has challenged the current mindset around manufacturing in India to establish India as a one-stop world-class facility & is keen to be the torchbearer of Indian specialized manufacturing for all the end-to-end needs of a global OEM. He envisions transforming the entire manufacturing industry using digital manufacturing and Industrial AI, right from the design process and production floor to the supply chain and administration.

Jaipur (Rajasthan) [India], November 22: Alcodes mobility Pvt. Ltd, India’s leading SMS service platform, has re-launched its service for marketing automation known as ‘Cronberry’.

The New update consists of a revamped website and added features as digital catalogues, Landing pages, Url Shortner etc.

Abhishek Joshi, Co-founder, Cronberry said, “According to industry estimates, more than 60% of marketing leaders worldwide are now using at least one marketing automation platform. MarTech, which has seen widespread adoption in India, is expected to grow at a 44% CAGR over the next five years, “

Joshi added, “Today’s marketers are in a mad dash to provide their customers with an excellent ‘Online / Offline experience,’ rather than simply managing the relationship. In the next three years, major SMBs in India will shift to this trend to capitalise on the current digital wave.”

Cronberry is working in the field of marketing automation and lead management, which aims to streamline the process of reaching out to possible customers as well as their retention / re-engagement over long periods.

The company offers to bring this diverse set of activities within the umbrella of a single mode of automation. Instead of a segmented approach to defining the marketing campaign, this tool connects the user database and its activities directly with the necessary adjustments as per the demography of the subjects targeted.

The internet’s importance in our daily lives has grown over the last decade. However, it was not until the pandemic began in 2020 that it became the primary mode of communication. While large scale businesses had already shifted to an e-commerce based model and adopted the online business automation processes, small and medium scale enterprises had to play the catch up as quarantined existence became the order of the day. This brought about the unique problem of reaching out to customers over the digital landscape, said Joshi.

About Cronberry

Currently being bootstrapped, Cronberry already has a customer base of over 250 small and medium businesses and plans to begin its external funding exercise in December 2021. The company intends to expand beyond Indian territory into South East Asia and the Middle East by 2022. Along with the international expansion, their long-term goals include a thousand or more new customers and a revenue of at least Rs 10 crore. Cronberry is an essential tool for small and medium businesses to avail and make their reach as widespread and robust as possible, in the current climate of digital existence, as e-commerce becomes the rule rather than the exception, and with 20000+ homegrown e-commerce players and 66 million+ SME’s being registered.

For more details, please visit: https://www.cronberry.com/

One can also reach Co-Founder – Abhishek Joshi at

https://www.linkedin.com/in/abhishekjoshee

November 22: MilesWeb, a leading and the fastest growing web hosting provider from India, kicks off its biggest sale of the year with its “Black Friday Deals” by offering incredible discounts on web hosting.

As a part of the company’s annual Black Friday Sale, customers can save big with 70% off on their web hosting plans.

Additionally, the spectacular deal is, customers who sign up for a web hosting plan will also get a domain for free.

As an example of the huge savings offered by MilesWeb, the company’s basic shared hosting plan starts at Rs.60 per month after a 70% discount.

 MilesWeb has a wide range of web hosting plans catering to the needs and budget of every client. They can choose a plan that best fits their needs and budget.

Speaking about the sale, the spokesperson from MilesWebsaid, “Our Black Friday deals are excellent for web professionals and website owners looking to purchase top-notch web hosting services at lucrative prices.”

“Prices are never like before during this holiday season, and we see this deal as a stepping stone to the success of a business,” he added.

MilesWeb continually helps businesses to enhance their online presence with not just exciting offers but also complete support.

In addition to the discounted prices, customers will enjoy the company’s robust connectivity infrastructure with a 99.95% uptime guarantee and excellent customer support available 24×7.

The Black Friday Sale is expected to be the biggest sale of the year, and MilesWeb hopes customers would take the benefits of their discounted prices to the fullest.

For more information on sale, visit: https://www.milesweb.com

About MilesWeb

MilesWeb is a web hosting provider based in India. Founded in 2012, MilesWeb is dedicated to offering secure and powerful web hosting services to thousands of clients globally. Along with web hosting solutions, the company also offers features like free domain name and SSL, 24×7 customer support and super fast website speed.

MilesWeb has been helping individuals, small and mid-size businesses to launch their dreams online.

Mumbai, November 19: LANXESS once again convinces in terms of sustainability: The specialty chemicals company placed first in the Dow Jones Sustainability Index (DJSI) Europe in the “Chemicals” category, scoring 87 out of 100 points. In the DJSI World, LANXESS came in second place. The Group achieved particularly good results in the areas of product stewardship, management of water related risks and human rights.

“We want to play an active role in the transformation of the economy and global value chains towards a more sustainable world,” said Hubert Fink, member of the Board of Management of LANXESS AG. “We consider the renewed very good ranking in the Dow Jones Sustainability Index as proof of the success of our efforts.”

The Dow Jones Sustainability Indices evaluate economically relevant ESG factors once a year. ESG stands for the sustainability dimensions Environment, Social and Governance. The DJSI World lists the best 10 percent of the global companies evaluated per sector, while the DJSI Europe lists the best 20 percent of companies headquartered in Europe.

Sustainable use of water and chemicals

Two years ago, LANXESS published its plan on how to become climate-neutral by 2040. In 2020, the specialty chemicals company also committed to reducing water withdrawals at sites in areas with particularly high water stress by 15 percent by 2023.

In addition, LANXESS has pledged to further improve its product portfolio’s sustainability performance, eliminate critical substances in products, and develop safe alternatives. The company has also committed not to market any new chemical end products that contain critical substances in a concentration of more than 0.1 percent.

Board remuneration linked to sustainability targets

In addition to voluntary commitments, the specialty chemicals company is focusing on incentive systems for greater sustainability: a new compensation system for the Board of Management has been in place since the beginning of the year. Roughly one-third of the variable compensation is linked to the company’s sustainability performance. Specifically, the company’s performance in climate protection and occupational safety will be factored into the system for 2021.

EBITDA pre exceptionals increase 44.0 percent to EUR 278 million

Mumbai, November 20: Specialty chemicals company LANXESS holds its own also in a challenging environment: Despite a sharp rise in raw material, energy and freight costs, EBITDA pre exceptionals in the third quarter of 2021 increased by 44.0 percent to EUR 278 million, against EUR 193 million in the prior-year quarter. With an increase of 33.5 percent year on year, LANXESS generated sales of EUR 1.951 billion in the third quarter of 2021. At EUR 68 million, net income from continuing operations was higher than in the third quarter of 2020, in which LANXESS generated EUR 25 million.

The strong earnings were driven by all segments – especially Specialty Additives and Engineering Materials. The three acquisitions completed in this fiscal year, especially that of Emerald Kalama Chemical, also contributed to the good results. Adverse exchange rates, mainly from the U.S. dollar, but especially higher energy and freight costs, prevented a further increase in earnings. The EBITDA margin pre exceptionals increased to 14.2 percent in the third quarter, against 13.2 percent in the prior-year quarter.

“The third quarter of this year was again characterized by growth. Our operating business continued to develop positively, and we successfully passed on the significantly increased raw material costs. With the announced acquisition of IFF Microbial Control, we will also be significantly expanding our Consumer Protection segment again in the future. This will make us more stable and more profitable,” said Matthias Zachert, Chairman of the Board of Management of LANXESS AG. “However, the unprecedented increase in energy, raw material and freight costs is not leaving us unscathed. We expect the cost pressure to even increase in the fourth quarter.” Due to these cost increases, strained supply chains, and power rationing in China, which is negatively affecting production there, LANXESS expects EBITDA pre exceptionals for the full year to be at the lower end of the guided range of EUR 1 billion to EUR 1.05 billion.

LANXESS continues to grow with the planned acquisition of the Microbial Control business from U.S. group International Flavors & Fragrances Inc. (IFF). The two companies signed an agreement to this effect in August. The transaction is scheduled to be completed in the second quarter of 2022. Within four years of completing the transaction, LANXESS expects an additional annual EBITDA contribution of around USD 35 million (roughly EUR 30 million*) as a result of synergies.

Due to the passing on of increased raw material costs and continued good demand, the Advanced Intermediates segment posted higher sales in the third quarter of 2021. They rose by 28.7 percent from EUR 414 million to EUR 533 million. The segment’s EBITDA pre exceptionals reached EUR 84 million, 18.3 percent higher than the prior-year figure of EUR 71 million.

The Specialty Additives segment benefited from higher selling prices and improved demand in all business units. In the third quarter of 2021, sales grew by 29.8 percent, from EUR 466 million to EUR 605 million. At EUR 102 million, the segment even achieved the best result in its history. The EBITDA margin pre exceptionals reached 16.9 percent, against 12.7 percent a year ago.

The Engineering Materials segment generated significantly higher sales, particularly due to the continued very good demand from the automotive industry. Sales increased by 53.0 percent from EUR 285 million in the previous year’s third quarter, which was heavily affected by the pandemic, to EUR 436 million.

Pune (Maharashtra) [India], November 20: Pune-based real estate developer Goel Ganga Group and its managing director, have been awarded two prestigious awards at the recently held Business Leadership Awards 2021.

Goel Ganga Group was honoured with the “Best Real Estate Company of the Year”. At the same time, the Group’s Managing Director Atul Goel was conferred the “Best Real Estate Professional of the Year” award. The awards, an initiative of Feather Touch Foundation, are given for excellence and leadership in the real estate sector.

Goel Ganga Group was selected for the award owing to its high-quality work, setting new benchmarks in the real estate sector, and excellent track record of delivering projects on time. Atul Goel was honoured for the prestigious award due to his leadership and managerial abilities, which have catapulted the Goel Ganga Group among the top real estate developers of Pune.

“We are proud and humbled for being selected for the two prestigious awards. The awards belong to all our employees and team members, especially the customers, who have been unwavering in their trust in us. The awards will motivate us to work even harder and to live up to customers’ trust and expectations,” commented Mr. Goel on the twin awards.

Over the past four decades, the Goel Ganga Group has emerged as a respected and dependable real estate developer. The company has completed more than 100 projects in Pune, Nagpur, Mumbai, and Bengaluru. Mr. Goel, who recently completed his professional doctorate in Construction Management from the European International University, aims to take the Group to greater heights. The company is developing dozens of residential, retail, and office space projects in and around Pune.

Lucknow, Nov 19: Tapping into the thriving culture of locally brewed Beer that is standing out amongst beer lovers, Kolkata based company Vairagi Breweries Pvt.Ltd is setting up a brewery in Barabanki, Uttar Pradesh, with a whopping project value of 100 crores. With two brands named Vairagi and Honey Badgaer being launched, they aim to make homegrown Beer a hit amongst the enthusiasts.

Not only will this move create job opportunities in the state of Uttar Pradesh, but it will also push up the state excise revenue. Additional Chief Secretary (Excise) Mr. Sanjay R. Bhoosreddy said the existing arrangements and rules of the excise department were significantly eased in the new excise policy, and Vairagi Breweries was issued a license.

The creative genius behind the brand is Mr Saurav Singh, a Civil Engineer and young Entrepreneur who is also the Managing Director of Vaidheeki Group, a real estate business based in Ranchi and Kolkata with many commercial and residential projects under their belt.

Mr Saurav Singh, the founder and managing director of Vairagi Breweries Pvt Ltd, said, “Beer industry of India is growing by 12% every year, and now Beer is emerging as the new go-to chill-out drink of young Indians. With our brand Vairagi, we want to bring the Indian subtle taste to Beer, with the best ingredients.”

Vyaghri, an Indo-western clothing brand, is also the brainchild of Mr Saurav, who plans to tap the protein bar market with the healthy protein bar brand The Raw Protein.

Mr Singh also added that the brewery would produce more than six crore cans per annum initially. It has the potential to expand to 20 crore cans per year in the future, a modern-age fully automatic plant with the best technology to craft top-notch Indian beers.

Increased beer production will inevitably increase employment possibilities, providing approximately 200 jobs in the local district where the breweries will be set up. It will significantly boost the excise revenue of the state of Uttar Pradesh.

Definitely, this is a fantastic initiative to help stir some fresh energy in the state’s residents to become more productive and efficient. Furthermore, an even more fantastic initiative for the country to enjoy their go-to drink crafted locally and include it in all their highlight moments of life.

Innovana Thinklabs Limited, an innovative technological solutions provider which was listed on the SME Platform of the National Stock Exchange (NSE), has announced its half-yearly results for the six months ended on September 30th, 2021

New Delhi, November 19, 2021: Innovana Thinklabs Limited (NSE: Innovana | NSE: INE403Y01018), a leading domestic innovative technological solutions provider, has posted unaudited financial results for the first six months of the ongoing financial year. The company has reported strong numbers in the above mentioned period, thanks to higher income and operational efficiency, which reduced the expenses of the company on a proportional basis.

The company has released the consolidated earnings for the April to September 2021 period, which includes as many as six subsidiaries.

Innovana Thinklabs Limited has reported an increase of 94.4 per cent in the profit after tax (PAT) in the first half of the current financial year to Rs 16.41 crore on a year-on-year (YoY) basis, compared to Rs 8.44 crore in the corresponding period the previous year. On a sequential basis, net profit surged over 121.1 percent from Rs 7.42 crore in the H2FY21 period.

The IT solution provider has reported a rise of 32.5 percent on a YoY basis in the total income to Rs. 38.49 crore in H1FY22, compared to Rs. 29.03 crore in H1FY21. On a sequential basis, the total income jumped 21.95 per cent from Rs. 31.56 crore in H2FY21.

The EBITDA of the company increased 61.2 percent to Rs. 19.28 crore in April-September 2021 period from Rs. 11.98 crore in the same period the previous year. The Operation profit zoomed 180 percent on a sequential basis from Rs. 6.89 crore.

The basic and diluted earnings per share (EPS) of the company rose 94.41 percent to Rs 16.02 per share from Rs 8.24 per share on a year-on-year comparison. Sequentially, it jumped 121.27 percent from Rs 7.24 per share.

Innovana Thinklabs reported a net profit of Rs. 15.86 crore in the financial year ended on March 31, 2021, with a total income of Rs. 60.6 crore.

Commenting on the results, Mr. Chandan Garg, Chairman and MD, Innovana Thinklabs said that, “We are highly delighted by the financial performance of the company and willing to perform better in the days ahead. We are completely focussed on serving and expanding our client base, which will add more value to our shareholders.”

“As the digitisation in India is expanding at a rapid pace, the need for innovative and new-age solutions will increase exponentially. The business has a lot of potential and we are committed to delivering on our promises.”

About the company:

Innovana Thinklabs Limited is engaged in the software and application development business which directly provides services to create new applications and enhance the functionality of our users’ existing software products. Our product portfolio consists of applications and software such as Ad-blocker, Disk Cleanup, Space Reviver, File Opener, Privacy Protector, etc. They have developed numerous products and these products have registered their presence and popularity in over 126 countries in 13 different languages. The operations of our company are controlled by our registered office situated in Jaipur, Rajasthan.

The company was originally incorporated as “PCVARK Software Private Limited” on April 13, 2015, under the provisions of the Companies Act, 2013 vide certificate of incorporation issued by the Registrar of Companies, Rajasthan, Jaipur. Further pursuant to Special Resolution passed by the shareholders at the Extra Ordinary General Meeting held on June 14, 2017, our Company was converted into a Public Limited Company and consequently, the name of our Company was changed to “PCVARK Software Limited” vide fresh certificate of incorporation dated June 27, 2017, issued by the Registrar of Companies, Rajasthan, Jaipur. Later the name of the Company was changed from “PCVARK Software Limited” to “Innovana Thinklabs Limited” vide certificate of name change dated August 30, 2017, issued by Registrar of Companies, Rajasthan, Jaipur.