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  • Ethos ltd Q3- FY23 Results

    New Delhi, India, February 2023: Ethos Limited, India’s largest chain of luxurious watch boutiques with 50 shops in India throughout 18 cities, and over 60 premium luxurious watch manufacturers, introduced its monetary outcomes as we speak, for the quarter ended December 31, 2022.

    Key Financial Highlights – Q3 FY23

    Revenue of Rs. 229.7 crore with 17.6% YoY progress
    EBITDA of Rs. 39.5 crore with EBITDA margin of 16.9%
    PAT grows to Rs. 20.7 crores in Q3FY23 vs Rs. 12.1 crore in Q3FY22
    Company continued to indicate glorious progress on quarterly EBITDA & PAT in Q3FY23 on the again of strong demand and centered advertising and marketing initiatives
    Strong income progress throughout offline and on-line channels
    Higher share of in-house model gross sales proceed to help margin growth
    EBITDA margin continues to develop on the again of value optimization initiatives and working leverage advantages

    Key Financial Highlights – 9M FY23

    Revenue of Rs. 581.0 crore with 38.8% YoY progress
    EBITDA of Rs. 98.5 crore with EBITDA margin of 16.7%
    PAT grows to Rs. 47.0 crores in 9MFY23 vs Rs. 15.5 crore in 9MFY22
    Company recorded its highest ever EBITDA & PAT in 9MFY23 on the again of strong demand and centered advertising and marketing initiatives
    Strong income progress throughout offline and on-line channels
    Higher share of in-house model gross sales proceed to help margin growth
    EBITDA margin continues to develop on the again of value optimization initiatives and working leverage advantages

    Management Comment:

    Mr. Pranav Saboo, Chief Executive Officer, Ethos Limited stated, “The income progress, progress in revenue and extra unique partnerships signed on this quarter present the super potential of finely crafted timepieces, luxurious merchandise and Ethos, to ship long-term worth creation for all stakeholders. As we mark our twentieth anniversary, we’re pleased with our long-standing relationships with our staff, manufacturers, location companions and our valued clients. Our concentrate on each stake holder will proceed as we begin the third decade of Ethos Limited”

    Key Highlights:

    New Exclusive Brand Partnerships: Ethos Limited has entered into model agreements with globally acclaimed Swiss watchmakers Bell & Ross, Speake-Marin and Trilobe, and German watch model Tutima to be their unique retail associate within the Indian market.

    Geographic Expansion and new retailer addition: During the quarter, Ethos Limited opened its first retailer in Indore. With this, Ethos Limited is now current in 18 cities throughout India. Further, a brand new multi-brand boutique has additionally been added in Bengaluru.


    Rekha Nair

  • Augmont Gold For All_Mr. Ketan Kothari Budget Reaction

    Mr. Ketan Kothari, Director – Augmont-Gold For All.

    The 2023 Union Budget is sort of a cheerful finances for Individual taxpayers, the place the main target was on the agricultural economic system and rising CAPEX allocation for adhering to the fiscal consolidation path. There have been some responsibility adjustments for the bullion business, the place Silver Bars and Silver Dore Import Duty are elevated to fifteen% and 14.35%, respectively, and are aligned with gold and platinum. Moreover, the conversion of bodily gold into EGR and vice-versa has been exempted from Capital Gains – it will allow EGRs to change into extra well-liked.


    Rabindra

  • Post budget reaction from Mr. Puneet Dalmia, Managing Director, Dalmia Bharat Ltd

     Mr. Puneet Dalmia, Managing Director, Dalmia Bharat Ltd.

    “Aspiration to Action: Budget 2023 primes India to the highest of the world

    The Union Budget 2023 is the providential threshold for creating the India of the Amrit kaal. As eloquently portrayed by the Finance Minister because the “Saptrishi” or 7 priorities, the Budget has created a really purposeful path and autos to seize India’s rightful place amongst the ‘Top 3’ main economies of the world.”


    Rabindra

  • Frost & Sullivan Recognizes Check Point Software Technologies as a Leader in Innovation and R&D for Cloud Native Application Protection

     

     

    Checkpoint

     

    New Delhi, February 2022 — Check Point® Software Technologies Ltd. (NASDAQ: CHKP), a main supplier of cyber safety options globally, has been awarded a management place in the Frost Radar™ Global Cloud Native Application Protection Platform (CNAPP) 2022 report. Check Point was acknowledged as a chief in innovation and R&D and acknowledged for its “totally built-in shift-left cloud safety that empowers DevOps safety.”

    The Frost Radar™ is a sturdy analytical device that evaluates firms throughout two key indices: their deal with steady innovation and their potential to translate their improvements into constant development. Check Point is counseled for being a robust innovator with a clear technique and deal with cloud safety.

    “Check Point continues to leverage its robust cybersecurity portfolio and has taken a cloud-centric strategy over the past 2 years to provide you with a feature-rich CNAPP resolution that options capabilities wanted for clients to guard their cloud property, functions, community, and workloads with one unified platform,” mentioned Anh Tien Vu, Industry Principal at Frost & Sullivan.

    Among different issues, CloudGuard was praised for having a totally featured CNAPP that gives deep safety insights to prioritize dangers and forestall important assaults. Also famous was the great shift-left safety that allows enterprises to remediate points earlier than reaching manufacturing as a result of Spectral integration. Spectral’s modern developer-first instruments extends Check Point’s cloud resolution, empowering DevOps safety groups.

    “With the enhancement in CNAPP over the past two years and the dedication of recent options that allow extra context, actionable safety, and smarter remediation, Check Point CloudGuard is delivering top-notch complete safety for clients all over the world,” mentioned TJ Gonen, VP Cloud Security at Check Point Software. “We are honored to be acknowledged as a robust innovator and a development chief in the Frost Radar™: Global CNAPP report which is a testomony to our prevention-focused safety design.”

    Check Point CloudGuard provides unified, cloud-native safety throughout functions, workloads, and networks, enabling clients to automate their safety, forestall threats and handle posture – at cloud velocity and scale. Thousands of shoppers worldwide together with Jebsen Group, Eagers Automotive and others leverage CloudGuard to unify their cloud-native safety technique whereas optimizing trendy cloud deployments.


    Rekha Nair

  • Budget quotes on Real estate, Industrial & Infrastructure by Pankaj Kumar Kumar, Deputy Vice President – Fundamental Research, Kotak Securities Ltd

    Real property – FY24 Union
    Budget emphasised on promotion of tourism and setup of Unity malls by states that are constructive for lodges and malls gamers. But a proposal to tax a part of distributed earnings by the enterprise belief was unfavorable for REITs. Part of the distribution from REITs (within the type of compensation of capital) was not taxable earlier, however the identical would now be taxable. In addition, the price range introducedcap on deduction from capital features on funding in residential home below sections 54 and 54F at Rs10 cr. This would work in opposition to funding in properties in addition to investor demand.  

    Industrial & Infrastructure – FY24 Union
    Budget targeted on sustainable financial restoration by way of infrastructure creation. The authorities maintained its focus on capital expenditure with a budgeted development of 37% in FY24BE to Rs10 lakh cr from FY23RE of Rs7.3 lakh cr. The bulk of the rise continues to be from railways (51% development), roads and highways (25% development), protection (development of 8.5%), and many others. Increased thrust on railways, roads, city funding, renewable, bioenergy (CBG), and many others. bodes properly for the industrial and infrastructure sector.


    Mansi Praharaj

  • Budget 2023-24: Personal Income Tax limit increased to Rs.7 lakh

    Budget 2023-24: No tax on private Income up to Rs 7 lakh







    The earnings in private earnings tax is anticipated to increase disposable incomes and transition the taxpayers to the brand new tax regime.

    Suman Chowdhury, Executive Director & Chief Analytical Officer, Acuite Ratings & Research stated, “The rationalization of the private earnings tax construction is anticipated to lead to two issues (i) increase disposable incomes for the center class and significantly youthful taxpayers (ii) transition the taxpayers to the brand new tax regime with minimal exemptions and decrease and easier tax slabs. This is anticipated to give a reasonable enhance to home consumption.”

    Budget 2023-24

    Budget 2023-24IANS

    S. Ranganathan, Head of Research at LKP Securities stated the Budget has put more cash within the arms of the individuals by means of aid from Income Tax which to our thoughts is a really constructive step.

    Finance Minister Nirmala Sitharaman on Wednesday introduced new tax slabs for 2023-24, below which no tax can be payable for earnings up to Rs 7 lakh each year below the brand new earnings tax regime.

    “Currently, these with an earnings of up to Rs 5 lakhs do not pay any earnings tax. I proposed to improve the tax rebate limit to Rs 7 lakhs within the new tax regime,” Sitharaman stated whereas asserting the brand new tax slabs in her speech whereas presenting the Union Budget for 2023-24.

    Budget 2023-24

    Budget 2023-24IANS

    A tax of 5 per cent can be levied on complete earnings between Rs 3 lakh and Rs 6 lakh, 10 per cent tax can be imposed on earnings between Rs 6 lakh to Rs 9 lakh, it will be 15 per cent on earnings between the vary of Rs 9 lakh to Rs 12 lakh.

    On the earnings vary of Rs 12 lakh to Rs 15 lakh, 20 per cent tax can be levied, whereas tax can be 30 per cent on earnings slab of Rs 15 lakh and above, the finance minister knowledgeable.

  • Post Budget Reaction 2023 – Startup/ Entrepreneur/ Working Professional

    Quote by Shreya Gupta, CEO & Founding Partner at Four Founders PR, an Advertising & Marketing Firm

    “The authorities has applied a wide range of begin-up-pleasant insurance policies over time, they usually have all confirmed to achieve success. Currently, India has the third-largest startup ecosystem on this planet and is second amongst center-earnings nations when it comes to innovation and high quality. Finance Minister Nirmala Sitharaman beneficial prolonging the interval of incorporation for earnings tax advantages to qualifying begin-ups by yet one more yr till March 31, 2024, citing the worth of entrepreneurship for the nation’s financial improvement.

    Previously, tax benefits have been prolonged to newly integrated begin-ups via March 2023. She additionally advised growing the time period that begin-ups can carry over losses from modifications in shareholding from the present seven years to 10. I consider general the Finance Minister has executed a superb job in hanging a nice steadiness in being fiscally prudent and development supportive. Hence, I’m trying ahead to creating the perfect use of latest technological and advantageous alternatives designated by the Union Budget 2023-2024″, says Shreya Gupta, CEO & Founding Partner at Four Founder PR

    Quote by Shreya Gupta, Publicist at Four Founders PR

    “The new earnings tax slab charges for 2023-24 are unquestionably helpful to the center class. As a salaried taxpayer, my major worry was the potential of a rise in earnings tax charges, given the worldwide scenario and the continued menace of recession. Furthermore, the go away encashment exemption is prone to be a big boon, significantly within the company and startup sectors. While the rise in gold and silver costs is prone to have an effect on us, FM Sitharaman’s finances is kind of properly-designed general. “I’m curious to see how the opposite modifications have an effect on the underside line, however direct tax breaks are clearly welcome,” says Shreya Gupta, publicist at Four Founders PR.


    Rabindra

  • Market enthusiasm fades after a brief post-budget rally; Sensex trades below 59,900, Nifty hovers around 17,700

    Sensex crashes by 1,800 pts as Russia pronounces army operations towards UkraineIBTimes IN

    The Indian inventory market rose sharply as FM Nirmala Sitharaman tabled a favorable Union Budget 2023-24 within the parliament on Wednesday. The Sensex rallied greater than 1000 factors and Nifty added 250 factors simply after FM concluded the funds speech.

    However, the market couldn’t maintain sharp momentum for longer as indices pare positive factors after the brief rally. The BSE Sensex opened at 60,000 factors, up 450 factors, whereas Nifty opened above 17,800 factors and Nifty Bank began buying and selling above 41,000 factors.

    As of two:10 PM, Sensex is buying and selling up practically 300 factors or 0.5% to 59,841 factors, whereas Nifty is buying and selling at 17,701 factors, up 40 factors or 0.22% whereas Nifty Bank is buying and selling up greater than 500 factors or 1.34% to 41,200 factors.

    Budget 2023-24IANS

    Commenting on Union Budget, Suman Chowdhury, Executive Director & Chief Analytical Officer, Acuité Ratings & Research, mentioned, “The market was anticipating a additional dedication to public capital expenditure from the Govt and it has not disillusioned. The whole CAPEX outlay within the Union Budget has been enhanced by 33% from 7.5 Lakh Cr to 10.0 Lakh Cr which takes it to an all-time excessive of three% of GDP. This is not going to solely give a increase to the infrastructure sector but in addition be constructive for employment and development.”

    Sector-specific actions had been seen after funds bulletins. IRCTC shares initially rose 1.80%, Rail Vikas Nigam gained 3.48%, and KEC International rose 1% as FM says PPP will increase the tourism sector. Despite a brief rally, shares of IRCTC and Rail Vikas Nigam fell.

    Whereas ITC shares got here below strain and fell 6% after the middle determined to extend NCCD (National Calamity Contingent Duty) on sure cigarettes by 16 p.c. However, it rebounded sharply and rose 2%.

  • Nick Chandi’s ForwardAI Was Born from Business Failures; Today it Helps Stop Them

    Nick Chandi

    Every entrepreneur experiences successes and failures all through their profession, and, though he was born to be an entrepreneur, Nick Chandi isn’t any completely different. While he was finding out Information Technology on the University of Victoria, Nick opened up a small textile enterprise. It introduced nice merchandise to market however confronted many challenges alongside the best way. Navigating money stream points, account administration, and normal accounting processes include sharp studying curves for a lot of enterprise house owners. But it wasn’t lengthy earlier than Nick realized that expertise could possibly be used to vary not solely how he operated his companies, however how different small enterprise house owners method their very own.

    This early expertise impressed the creation of Welcome Networks, an accounting-focused IT consulting agency in addition to SlickPie, a web-based accounting utility that helped over 40,000 small companies. SlickPie automated processes like invoicing, monetary reporting, and information entry, making managing companies of all kinds extra accessible for entrepreneurs. The creation of Welcome Networks and SlickPie outfitted Nick to sort out his greatest enterprise but: ForwardAI.

    During the pandemic, companies all around the US have been making use of for Paycheck Protection Program (PPP) Loans to remain afloat throughout unexpected circumstances. Nick witnessed first-hand the complexities of the mortgage utility course of for small companies. For some, it took months to safe financing in a scenario the place many could not wait that lengthy. He was flabbergasted that lending our bodies weren’t counting on expertise to make the method extra manageable, so Nick took issues into his personal palms.

    While helping companies in making use of for PPP loans and out of doors loans through the pandemic, Nick observed that banks failed to assist almost 50% of those that reached out for assist. Banks solely approve 15% – 25% of one of these mortgage utility, so Nick noticed an inflow of small companies turning to on-line lenders for assist. Around 32% of small companies work with on-line lenders as a result of banks will not be supplying sufficient assist for them. Online lenders join extra simply with the monetary information of a enterprise, however ForwardAI brings that very same stage of ease to all lenders.

    ForwardAI makes use of safe connections, together with rules of open finance, to connect with many various accounting techniques, ERPs, and enterprise administration platforms. It collects, cleans, and compiles the information, outputting useful, actionable insights that provide an in depth abstract of the well being of a enterprise. ForwardAI makes it simpler for banks, credit score unions, various lenders, and fintech firms to request enterprise information from small companies. The platform additionally helps small companies themselves.

    Cash stream planning, automated forecasting, and monetary reporting are the foremost elements of ForwardAI, and extra options shall be added to the platform with time. Forwardly, the money stream administration utility that’s a part of ForwardAI will see a significant replace in 2023 as it expands its accounting software program assist from two techniques to 6 completely different accounting software program platforms. Precise API, one other part of ForwardAI, is working to convey extra integrations to its customers. Commerce platforms like Shopify and Woocommerce are the highest priorities on its roadmap.

    ForwardAI, below Nick Chandi’s management, has had a powerful exhibiting within the trade. Nominated for a number of awards in North America, it’s clear that ForwardAI is the way forward for small enterprise operations and lending. The group already has partnerships with main firms like Swoop Funding, FIFO Capital, Fintech Automation, and C2FO. In complete, ForwardAI is utilized by firms in 48 nations worldwide; highlighting simply how profound the answer is. Nick Chandi modified how small companies all around the world are doing enterprise as a result of he noticed a chance to make issues higher and acted on it.

  • Budget Quote 2023 | UNICEF

    Dhuwarakha Sriram, Chief of Generation Unlimited (YuWaah) and Youth Development and Partnerships at UNICEF

     

     

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    Dhuwarakha Sriram, Chief of Generation Unlimited (YuWaah) and Youth Development and Partnerships at UNICEF

    “We are glad that the priorities within the Union Budget 2023 function Youth Power. The introduction of the National Digital Library for kids and adolescents, provisions for trainer coaching, on-the-job talent coaching, apprenticeships, and the creation of 30 Skill India International Centres will assist promote entry to data. The Government’s recognition of the post-pandemic studying loss is a welcome transfer. Emphasis on talent growth with AR/VR functions will assist younger folks put together for the way forward for work and allow them with related delicate expertise. The digital and bodily infrastructure, significantly for essentially the most marginalized younger folks within the hinterland, will assist construct increased scholar engagement and curiosity, and make studying a simple course of.”


    Rabindra