Tag: Business

Mumbai (Maharashtra) [India], August 06: Specialty chemicals company LANXESS completed the second-largest acquisition in its history on August 3 with the takeover of Emerald Kalama Chemical. The US-based specialty chemicals manufacturer was majority-owned by affiliates of private equity firm American Securities LLC. All required regulatory approvals have been received. The enterprise value of Emerald Kalama Chemical was USD 1.075 billion (EUR 900 million). After deducting liabilities, the purchase price was approximately USD 1.04 billion (EUR 870 million), which LANXESS financed from existing liquidity.

“Emerald Kalama Chemical gives us another major boost on our growth path. The new businesses are an optimal strategic fit for us. We are strengthening our position in markets with attractive growth rates and opening up new high-margin application areas, especially in the beverage and food sector or in cleaning and cosmetic products. What’s more, Emerald Kalama Chemical is perfectly backward integrated – strengthening our value chain in Consumer Protection. This segment is thus an important engine on the way to making LANXESS even more stable and profitable,” said Matthias Zachert, Chairman of the Board of Management of LANXESS AG.

“A strong team is now working at full speed to ensure a rapid integration.”

With the closing of the transaction, LANXESS grows by around
470 employees and the three production sites in Kalama/Washington (USA), Rotterdam (Netherlands), and Widnes (Great Britain).

In 2020, Emerald Kalama Chemical achieved global sales of approximately USD 425 million (EUR 375 million) and EBITDA pre exceptionals of around USD 90 million (EUR 80 million). Within three years, LANXESS expects an additional annual EBITDA contribution of around USD 30 million (EUR 25 million) from synergy effects. The acquisition will already be earnings per share accretive in the first fiscal year after its completion.

Expansion of the product portfolio for the consumer care sector

Around three-quarters of the sales of the acquired businesses are attributable to specialty products for the consumer care market.

The acquisition makes LANXESS one of the leading providers of products for flavors and fragrances – an area in which the specialty chemicals company expects to see sustained strong growth rates. The substances are used primarily in personal care products, cosmetics, and exclusive fragrances, as well as food and beverages. The product range in the new LANXESS portfolio includes more than 30 aroma chemicals that provide earthy, floral, fruity, spicy, and herbal notes.

LANXESS is incorporating this business into the newly established Flavors & Fragrances business unit, which will become part of the Consumer Protection segment.

The acquisition also strengthens LANXESS’ leading position in the preservatives business. The new products will be used in high-growth applications in the food and beverage industry as well as in detergents, fabric softeners, cosmetics, and personal care products.

Specialty chemicals for industrial applications

Around a quarter of the sales of the acquired businesses are accounted for by specialty chemicals for high-growth industrial applications, primarily in the plastics, paints and coatings, and adhesives industries. The products will be integrated into the Polymer Additives business unit.

Bengaluru (Karnataka) [India], August 5: In May 2021, Sukh Sagar Medical College and Hospital from Jabalpur started seeing a surge in the number of patients due to the second wave of Covid-19. The situation also led to the higher number of food orders for the Hospital canteen run by Tasty Food Café, and the staff shortage added to the challenges. That’s when Tasty Food Cafe started looking for a solution and installed an automatic dosa machine at their outlet.

Tasty Food café is just one of the incidences to mention. Pandemic changed the way restaurants and hotels were working. There was a shift from Dine-in to a Delivery model, leading to more and more cloud kitchens. In addition to this, there was also a concern regarding the availability of skilled labour because of reverse migration. Hygiene and safety became a priority for the business owners in the post covid world. The scenario led to people becoming more receptive to technological advancements, and Kitchen automation solutions could easily bridge these gaps.

Mukunda Foods, a kitchen automation solution provider from Bangalore, onboarded three times more customers in FY 2019-2020 than the previous financial year. Many of their customers were cloud kitchen owners looking for a solution that could help them maintain food consistency while minimizing the meal prep time to reduce the delivery time.

In a statement, Eshwar K Vikas, Co-founder, and CEO, Mukunda Food, shared, “The commercial kitchens always needed Automation, but people were not able to make out the long-term benefits. But successive lockdowns accelerated their receptiveness towards automating their kitchens. They started understanding that Automation is not only about reducing turnaround time and maintaining food consistency, but it also helps in reducing the operational cost.”

Mukunda Food’s machines aim to automate simple steps in Indian dishes that broadly impact food taste. They have automated over 14 cuisines & the popular ones that make Chinese food, Pizzas, Dosas, Chai, Biryani, Fried food, Khichdi & many others. The machines are also IOT enabled that help automations work at their best of capabilities and give decision-makers of business a lot more control over their businesses like setting up the recipes based on their Sops. They can also modify it from the central location whenever they want. These processes have been installed at around over 3000 kitchens across 22 countries to put for companies like Rebel Foods, Ola Foods, ITC, Chaayos, Swiggy, Wow Momo, etc.

Mumbai (Maharashtra) [India], August 5: Comfort Fincap Ltd, an NBFC of the Comfort Group has released the financial results for the first quarter of FY 2021-22 (ending June 2021). As per the unaudited results, the company has reported a Profit After Tax (PAT) of Rs.1.18 crores for the quarter. It recorded a net income from operations of Rs.2.84 crores. The net interest income of the company experienced an increase of around 25% YoY compared to June 2020. It also managed to generate a financial advisory and consultancy fee of Rs.7.50 lakhs in this quarter compared to zero in the quarter ending June 2020.

The company is positioned perfectly between the organized banking sector and the unorganized local money lenders. Led by a team of young professionals, Comfort Fincap has managed to register a stellar performance even in these trying times.

In the expenditure section, the company has managed to reduce its finance costs by around 17% compared to the previous quarter (ending March 2021). The overall expenditure has also seen a drop of around 109% compared to the previous quarter.

With services like loan against securities, margin funding, bill discounting, ESOP finance, loan against property, home improvement loan, personal loan, business loan, promoter funding, machinery finance, car loan, gold loan, and IPO financing, Comfort Fincap offers a wide range of products to consumers.

The current loan book of the company stands at Rs.67 crores as of June 30, 2021. The management has targeted a loan book of Rs.100 crores by the end of the financial year 2021-22. Comfort Fincap has reserves of Rs.29.89 crores (excluding revaluation reserve) and a paid-up equity capital of Rs.10.85 crores. The total assets of the company stand at Rs.73.50 crores.

Kindly visit the website http://www.comfortfincap.com/ for more information.

About Comfort Fincap Limited:

Being an NBFC, The Company has positioned itself between the organized banking sector and local money lenders, offering the customers competitive, flexible and timely lending services.

The Company is currently listed on the floors of BSE Limited and Calcutta Stock Exchange Limited.

About Comfort Group:

Comfort Group is headquartered in Mumbai and is on the path of rapid expansion across major cities in India. The Company has a diversified client base that includes HNIs, retail customers, mutual fund houses, financial institutions, corporate clients, and others.

New Delhi [India], August 5: Mental Health was proven to be one of the most talked-about topics of 2020. This could be mainly attributed to the global pandemic and its unfortunate circumstances. However, out of all the solutions that were suggested to help with this, there was one that proved to be one of the most effective – ‘Meditation’.

A lot of people, understanding the benefits of meditation, started to indulge them in the practice. Some were guided, while some weren’t.

However, even though meditation was proven to be an excellent tool to help with a person’s mental state, it is difficult for people to inculcate a habit to practice quality meditation and hence to see substantial changes in their mental framework on a day-to-day basis is again tough.

This is where the Black Lotus meditation app came into the picture. Black Lotus is an application that was designed specifically for people who seek to make meditation a part of their lifestyle. The app aims to change the way you look at the world, which changes how you process information, which changes the way you tap into your higher states of consciousness. The app brings lasting, profound changes to your life while reaping the benefits of intense meditation.

Built by Om Swami – a tech entrepreneur turned monk, and an international best-selling author, Black Lotus uses a scientific framework called RARE – Reflect, Act, Reinforce and Evaluate. The Black Lotus app goes beyond simple meditation and engages the user in different actions and acts of kindness throughout the day. The app deepens the practice by complementing meditation with daily kindness and mindfulness acts, with habit-forming support. Sprinkled throughout the day, a user is supposed to spend 15-17 minutes maximum in their daily journey to become an expert meditator and achieve a higher sense of consciousness. The app has impacted over 2 million people across the globe. 32 million minutes of meditation has been clocked into the app and over 250,000 impact stories.

Indian Chess Grandmaster Vidit Gujrathi, India rank 2, is a devoted user of the app, and he says that he noticed that whenever he felt low, a story about a Random Act of Kindness (RAK) would put him in a positive frame of mind. “I think there are scientific studies that say even if you observe an act of kindness, it also evokes the same emotions in you as you would feel if you did the kind act yourself. That’s what I noticed in myself. Then I started using guided meditation on the app and managed a streak of 180 days.”

The Black Lotus app features guided meditation sessions that include:

• In-depth guidance about how to meditate correctly and hurdles in meditation.
• Breathing exercises
• Yoga Nidra, great for sleep
• Users’ stories of their encounters with everyday kindness.
• Humor at the completion of each day.
• Ability to maintain a habit of meditation

In India, meditation is still in the realm of spirituality and not in technology or business. Black Lotus app brings the best of both worlds to ensure a meditative lifestyle in the hands of the modern Indian audience. The app provides purpose-specific meditations and comes with goal packs that are particularly geared at achieving one outcome at a time. The Black Lotus app also has a separate program for students and working professionals.

As part of the Black Lotus annual celebrations, the application has also announced a special limited period offer for the month of August 2021, where users can access the premium content for free by using a special code NOW while registering on the app.

The need for intense meditation is only going to increase as the stress levels of the outside world increases. So if you are looking to make meditation an extensive part of your lifestyle and are prepared for intense practice sessions, Black Lotus might be the way to go. So that you know, the next time, you are neither a misled soul nor a misguided meditator.

You can download the Black Lotus app at www.blacklotus.app

New Delhi, August 5: The go-to retail destination for all things fashion and style, Nykaa Fashion is always there to help you pick what’s best for you. When you want to step it up a notch, look no further than the Nykaa Fashion Luxe Store, a platform that curates the finest names for the world of Indian fashion.

Get your hands on the pieces you’ve been waiting for with a first-of-its-kind shopping fiesta, BOLD – Big On Luxe Deals, along with free gifts and personalisation options. From dresses to lehengas, shoes to shirts, carefully selected curations of designer pieces are finally on unique offers for you.

What’s in store for you? Some of the season’s hottest designers including Payal Singhal, Twinkle Hanspal, Gulabo, Pallavi Swadi, and more are offering complimentary face masks with every purchase. To make your shopping experience more special, names like Tanned, Perona, Adisee, and Gopi Vaid have introduced personalized accessories on the online store. Expect many other surprise gifts along with your purchases exclusively during the offer period, plus explore your favourite designer labels on discounts up to 65% under the one-stop Luxe shop.

There’s more. Instagram stars, Mitali Patel and Summiyya Shah from the House of MISU curate their most-wanted picks from the Luxe store for the upcoming season. Known for their exquisite taste in all things luxury, catch the new-age content creators decode the latest festive fashion in a live conversation on Instagram.

Gear up for BOLD on Nykaa Fashion Luxe, packed with irresistible offers and fashion-focused curations to guide you to invest in the best.

Now live from August 6th – 9th, 2021 on the Nykaa Fashion app and web store.

Vertically integrated global home shopping company launches Catapult to bring innovative products to market in record time

New Delhi [India], August 5: Fast-growing vertically integrated electronic retailer Vaibhav Global Limited (VGL), parent company to Shop LC in US & Germany and TJC in UK, launches their latest global initiative named “Catapult”. This new program is set to find Product creators, Innovators, and Entrepreneurs with exciting products which will be then launched on the TV channels of Shop LC in US/Germany & Shop TJC in UK in record time. Catapult is employing a fast-track product launch scheme to accelerate speed-to-market. The Catapult team is partnering with RangeMe, the industry-standard online product sourcing platform for retailers and suppliers from around the world.

“Our advantage is our vertical integration. Apart from the ability to launch ready products onto our channels, we can also offer our manufacturing capabilities, eliminating months from the standard production timelines. We want to do this keeping in mind our customers-to whom we can reach with newer products with quick speed to market, especially for the upcoming holiday season.” Says Mr. Kulathendral, Head of Innovation, VGL.

Product Innovators who make the cut may be considered for:

• Exposure on up to three home-shopping networks tallying over 119-Million Households in the US, UK, and Germany
• Be a guest host on LIVE TV
• Share of Sales
• Rapid Launch Production Scheme

Catapult is looking for ideas in jewellery, apparel, home, beauty, fitness, accessories, and culinary/kitchen.

For consideration, submit ideas before August 18^th, 2021, 11:59 PST. Click this link to apply. SHOP LC or TJC

Headquartered in Austin, Texas, Shop LC, is a wholly-owned subsidiary of Vaibhav Global Ltd. (VGL), a vertically integrated company with global sourcing and manufacturing capabilities. Shop LC is a value-conscious, interactive retailer focused on fine jewellery, beauty, fashion, home decor, and lifestyle product categories. Established in 2007, Shop LC reaches approximately 77 million U.S. households via

high-definition programming offered live 24 hours a day, seven days a week, 365 days a year. For more information visit www.shoplc.com and download the interactive app on iTunes, Google Play, or any other streaming devices or televisions.

Headquartered in London, UK, Shop TJC, is a wholly-owned subsidiary of Vaibhav Global Ltd. (VGL), a vertically integrated E-retailer with global sourcing and manufacturing capabilities. Shop TJC, through its E-retailing in UK specialises in jewellery, home, beauty, fashion, gemstones, and other lifestyle accessories. Established in 2006, Shop TJC reaches ~25 million UK households via live Television shows 24 hours a day, seven days a week, 365 days a year. For more information visit http://www.tjc.co.uk and download the interactive app on iTunes, Google Play, or any other streaming devices or television.

RangeMe, an ECRM company, is the leading online platform that streamlines new product discovery between suppliers and retailers. The platform empowers retail buyers to efficiently discover innovative and emerging products while streamlining the inbound product submission process. For product suppliers, RangeMe enables them to grow their retail relationships with a platform that gives them the tools to manage their products, market their brand, and build awareness. Now integrated into the ECRM product offering, RangeMe adds increased breadth and depth to the industry’s most complete sourcing solution for top retailers and product suppliers in the US.

Aug 4: Last year and a half have been a sky-rocketing journey for equity markets, mutual funds, and all the brokers and investors. The returns almost closed at 40% minimum, encouraging more and more people to invest. Honestly, successful investing is all about managing your risks and not avoiding them. With the assistance of a financial expert, one can take the investment leap.

Booking timely profits or losses is the key to a successful investment journey. The big money isn’t always about buying or selling but waiting for the right opportunity. There are industry experts like Prateek Toshniwal who understands numbers and the investment world better. Prateek Toshniwal, a professional Chartered Accountant says that one should always diversify their portfolio rather than investing in a single source. As a passionate Investor, Financial Advisor, Tax & Business Consultant, Networker, Entrepreneur, and BizLeader, he believes that failure is the biggest reason for growth and the more one fails the more you get to taste success.

The present needs must be fulfilled with business income and future portfolio diversification – FDs, PPFs, Bonds, Mutual Funds, Equities, and Start-ups. Having said that, financial experts like Prateek Toshniwal mention that one should avoid the mistake of over-thinking. If you know about the stocks you are holding, go with the flow of your understanding and if not, enter and exit based on your gut feelings, otherwise, you will end up having nothing. Secondly, avoid investing with an aim of minting money. You must invest in several ideas and portfolios that will serve you well in generating several sources of minting money. Hedging is a better strategy than staying in open positions.

Insurance & Investments are the pillars of entrepreneurs’ life cycle. Entrepreneurs who have all of it covered succeed and the rest suffer. A lot of people might wonder why they need to insure or plan for future earnings. Well, this is to help your loved ones from not going bankrupt and giving them a secured future. Besides, with the rising expenses, one cannot completely rely on a primary source of income. One should consider a secondary source of income and what better than investing in FDs, PPFs, Bonds, Mutual Funds, and Equities.

If you believe in health and wellness why not in financial wellness? A lot of time is spent on health and wellness but none on financial wellness. Spend good on financial wellness too and you will see a change in your income too. Believe it or not, Financial literacy is very important and everyone must upgrade themselves to be financially sound.

Bengaluru, Aug 4: Even before the pandemic, the Need for Program Management was evolving at the speed of light. But now, every organization needs a skilled Program Manager to ensure business objectives are met.

Program Management as a domain helps organizations, big or small, to deliver projects on time, on budget, and within scope.

As per PWC and Gartner report,

• 92% of the project failures are due to managerial aspects which reflect skill gaps in stakeholder management, scope management, planning, and resource management
• 70% of employees haven’t mastered the skills they need for their jobs today
• 80% of projects classified as high performing use a certified project manager

Top organizations are hiring skilled Program Managers across India and globally.

More than 6000 jobs are open on LinkedIn from paymasters like Amazon, Google, Microsoft, Walmart, Visa, etc.

Program managers draw an average salary of INR 40 lacs per annum with a maximum salary drawn up to INR 1.4 crores per annum.

Gururo.com has collaborated with IU University, Germany to offer a World-Class Post Graduate Certificate in Program Management. This program provides the frameworks, practical tools, and digital skills to lead and excel in managing complex, transformational projects and become a project leader in the digital age.

Link to enroll: Post Graduate Certificate in Program Management

IU International University of Applied Sciences (“IU International Hochschule”) is a state-accredited No. 1 university in Germany. IU programmes carry a prestigious QS 5 star rating.

Post Graduate Certificate in Program Management is a 6-month deep-dive learning journey into the world of project and program management, led by Industry stalwarts, Practice Gurus, and world-class faculty from IU University. Through the program, you will gain hands-on experience in effectively executing projects and programs in your organization.

The program offers a blend of live virtual classes, online self-paced videos, and hands-on projects. You also get access to mentorship sessions that provide a high-engagement learning experience and real-world applications to master essential Program Management skills. This is one of its kind programs where the focus is on practical and real-world learning. Apply the learnings to your job the next day.

Classes will be conducted online simulating an interactive classroom environment allowing you to engage in real-time with your faculty and classmates.

The program comes with a job assistance program to help you transform your career.

Upon completing the program, you will receive a Post Graduate Certificate program in Program Management from Gururo and a certificate from IU University with options to transfer credits to other programs.

About Gururo Private Limited

Based in Bangalore, India, Gururo.com is a growing industry leader in practical courses, across various streams, helping people acquire the skills they need to thrive in leadership positions.

They partner with universities, companies, and individuals to address their unique needs, providing training and coaching that helps working professionals achieve their career goals.

Gururo’s training consultants have a minimum of over 15 years of experience working in leadership positions in top organizations. This ensures you learn from the people who have been there and done that.

Gururo is into Creating Intelligent, Interactive, and Immersive learning experiences.

Gururo specializes in areas where technologies and best practices are changing rapidly, and the demand for qualified candidates significantly exceeds supply.

Based in Atlanta (Georgia), Mumbai (Maharashtra), and Bangalore (Karnataka), Gururo has helped over 3000 professionals and companies across more than 10 countries get trained, acquire certifications, and upskill their employees.

Through individual courses, comprehensive certification programs, and partnerships with world-renowned universities, Gururo provides thousands of professionals and corporate training organizations with the work-ready skills they need to excel in their careers. Gururo’s practical and the applied approach have resulted in 90 percent of learners reporting career benefits including promotions and new jobs after completing the training.

Kerala, August 4: Ryde Easy empowers its riders with self-driven rental cabs at the most affordable prices. It provides express rental cabs services in remotest locations along with minimal documentation procedures.

Owning a car isn’t for everyone. The additional car maintenance expenses, road tax, growing fossil fuel prices, and parking space requirements bring a lot of responsibility. But renting a car from Ryde Easy is definitely the smartest and the next best option. It has cheaper, hassle-free alternatives that give you the benefit of renting cars. And that too, as per the situation requires.

Ryde Easy is an online Indian platform that provides needful riders with a wide range of rental cars. Riders can rent cars that match their traveling requirements in the best possible way. What makes them stand out from the other rental car service providers is that they provide unlimited options with low-security deposits. You can go anywhere in India, book at any time, and split the payment among multiple cards as the situation demands.

The main objective of Ryde Easy is to provide the exclusive pleasure of driving to nearby as well as far-off locations. From getting the ride ready to roadside assistance, the new-age car rental portal brings the joy of riding with ease and comfort. Websites like Ryde Easy value the time and freedom of their riders. So, they aim to help their customers enjoy low-cost traveling in the ride of their choice.

Ryde Easy is an automotive division of Yeghna Cars India Pvt Ltd. Mr. Gishin is the founder of the innovative rental riding platform. Currently, Ryde Easy has a total strength of 100+ rental cars. Shortly, they plan on expanding the online car rental platform by addition of 500 more rental cars including electric vehicles. The founder will soon be launching the Ryde Easy app. The main objective of launching the app is to help rental car riders quickly access delivery and bookings.

The founders and co-founders came up with the incredible idea of launching Ryde Easy with the common man perspective in mind. The thought of leisure trips and emergency travels is what motivated Mr. Gishin to launch the brand. Instead of focusing on metros, Gishin wanted to cover remote, planned, and executed regions. The IT professional surely paved the way for the execution of a better planned and smarter rental cab version. His innovative idea will play a vital role in financially stabilizing the country. The availability of rental cars in remote areas has brought about a massive lifestyle change for the common man. Now, any person can afford a rental car if not their car.

Ryde Easy contributes its ever-growing success to its dedicated team of professionals. Being found by an IT professional, the online platform consists of energetic and confident crew members. The company has 48 crew members from varied departments like human resources, marketing, research and development, administration, garages, and repair amongst others.

The pioneer Indian rental cab company has taken up projects to launch its brand in the global market economy in the future. They plan to launch eco-friendly riding solutions such as EV stations and auto garages across Pan India by 2024. They also aim to introduce customer wellness programs and attractive foreign packages to exotic locations.

Learn more about the company and its services at https://rydeeasy.com/

Focusing on AAYUSETU, Ayursetu rebrands their company name and image.

Bathinda (Punjab) [India], August 4: Ayursetu, an industry leader in producing Ayurvedic and Herbal products has announced today that the company will begin operating under a new name and will be known as AAYUSETU, effective immediately. AAYUSETU is always looking for opportunities to promote the Indian System of Herbs and Ayurveda across the world with authentic cosmetic and wellness products for the benefit of the body, mind, and spirit. This rebranding strategy reflects both the evolution of the company as well as its vision for the future. The company has recently launched its hair care line XQUISIT. The new name is also reflective of the growing product family. The ownership and staff have not changed.

Sharing her excitement Jhanvi Gupta, Co-founder, AAYUSETU said “We are overwhelmed by the love the users have showered on the new haircare line we launched two weeks back. And realized it is appropriate to rebrand our company to more specifically reflect our growth and the increasing consumer trust. However, the name has changed but the vision hasn’t. Now, we are even more motivated and devoted to providing the purest and best of products that are free of any harmful chemicals to our users.”

About AAYUSETU

AAYUSETU was established in 2019 with a vision to promote the Ancient Vedic Science of India, Ayurveda. The company’s registered office is in Bathinda, Punjab with an international office in Ontario, Canada.