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  • Radio City Delivers 18% Growth in Revenues and 54% Growth in EBITDA for the Year


    Music Broadcast Limited (MBL), India’s 1st Private FM Radio Broadcaster, has reported its Audited Financial Results for the Quarter and Year ended March 31st, 2023.


     


    Key Highlights – FY23:


    • FY23 Top line of Rs 198.9 Crores; 18% Growth YoY


    • Maintained a powerful Position with 20% Volume Market Share


    • EBITDA* at Rs. 42.8 Crores; 54% Growth YoY


    • EBIDTA Margin at 21.5%


     


    *Includes different revenue


     


    Key Highlights – Q4FY23:


    • This fall FY23 Top line of Rs 51.4 Crores; 12% Growth YoY


    • Maintained a powerful Position with 20% Volume Market Share


    • EBITDA* at Rs. 10.6 Crores; 73% Growth YoY


    • EBIDTA Margin at 20.6%


     


    *Includes different revenue


     


    Commenting on the outcomes Mr. Shailesh Gupta, Director stated, “I’m happy to report that on a year-on-year foundation, our firm’s revenues grew by 18% whereas EBITDA noticed a considerable enhance of 54%. Our acutely aware efforts over the previous few years to scale back prices have paid off, permitting us to benefit from higher working leverage, which has led to quicker rise in profitability.


     


    During the quarter ended, our market share elevated to twenty%, up from 19% in the earlier quarter and 18% at the begin of the yr. We have a powerful omni-channel presence, which permits us to leverage our huge networks and present most worth to our shoppers.


     


    This yr, I’m glad to report that, as projected beforehand that Digital will make up a sizeable chunk of whole income and considerably contribute to progress, the digital gross sales share elevated to eight% in FY23 from 5.8% in FY22 and 1.7% pre-COVID. We have established the proper foundations through the use of our inside experience to supply high-quality content material and enhance viewers engagement. This is according to our ‘Radigitalization‘ technique, which focuses on radio-centric digital linkages.


     


    In phrases of sectoral advert spending, the core sector of actual property witnessed 35% yr on yr progress. Finance and the pharmaceutical sector each grew by 19% and 32%, respectively. While the auto sector witnessed a nominal progress of three% over the earlier yr, the meals and comfortable drinks sectors noticed a decline. The authorities sector expanded by 11% yr on yr.


     


    In March ’23, stock utilisation reached a report excessive of 90%. Comparing FY23 to FY22 and pre-covid ranges, stock utilisation elevated to 63% from 61% and 56%, respectively. This is a wholesome signal and gives a way of optimism for greater utilization in the instances to return.


     


    According to its elementary philosophy of sustaining a powerful liquidity place as a warfare chest to climate any storm and seize new alternatives, as of March 31, 2023, the money reserves of the firm stood at Rs. 295 crores.


     


    I’m delighted to announce that Radio City has received 19 accolades at the prestigious ‘ACEF Global Customer Engagement Forum & Awards 2023’, in addition to 18 distinguished awards at the ‘E4M Golden Mikes – Radio & Audio Awards‘. This is a credit score to the originality and innovation we offer, however it additionally validates the monumental efforts made by our expert staff to make an excellent distinction in the lives of our customers, who embrace listeners and advertisers.


     


    With regards to the bonus challenge of the non-convertible non-cumulative redeemable choice shares (“NCRPS”), the Company obtained buying and selling approvals from NSE & BSE and the similar is open for buying and selling w.e.f April 20, 2023.”


     


    About Radio City


    Radio City, part of Music Broadcast Limited (MBL) is a subsidiary of Jagran Prakashan Ltd. Being the first FM radio broadcaster in India with over 20 years of experience in the radio business, Radio City has persistently been the No.1 radio station in Bengaluru with 25.2% and No.2 in Mumbai with 14.3% common listenership share respectively. (Source: RAM Data, TG: 12+ Period: Week 1, 2013 to Week 52, 2022). Radio City Delhi ranks #3 with 11.7% common listenership share (Source: RAM Data, TG: 12+ Period: Week 1, 2019 to Week 52, 2022).


     


    Music Broadcast Limited presently has 39 stations throughout 12 states, comprising 62% of the nation’s FM inhabitants. Radio City reaches out to over 69 million listeners throughout India lined by AZ Research 2019 (Source: AZ Research Report). The community gives terrestrial programming by means of its digital interface, www.radiocity.in.


     


    Radio City has spearheaded the evolution of FM radio by providing content material that’s distinctive, path-breaking and invokes metropolis ardour amongst listeners with its model philosophy of “Rag Rag Mein Daude City”. The community launched humour and the idea of agony aunt on radio with Babber Sher and Love Guru respectively. It additionally initiated Radio City Freedom Awards, a platform to acknowledge impartial music and offered a launch pad to budding singers with Radio City Super Singer, the first singing expertise hunt on radio for fourteen years. In 2022, the group launched its first worldwide property ‘Radio City Business Titans’ to acknowledge Indian companies for their unwavering enterprise excellence.


     


    Radio City has bagged over 150 awards throughout famend nationwide and worldwide platforms equivalent to New York Festivals Radio Awards, ACEF Global Customer Engagement Forum & Awards, Golden Mikes – Radio & Audio Awards, India Audio Summit and Awards, India Radio Forum, and so forth. in the current previous. In 2022, Music Broadcast Limited received ‘India’s Best Company of the Year 2022’ Award by Berkshire media. Radio City has been persistently featured for the seventh time in ‘India’s Best Companies to Work For’ examine carried out by Great Place to Work Institute. The firm has additionally been acknowledged in ‘India’s Best Workplaces for Women – 2019’ and has ranked amongst the Top 75 organizations on the record. In 2020, Radio City ranked 4th in ‘Best Large Workplaces in Asia’, based on the GPTW survey.


     


    Safe Harbor Statement


    Statements in this doc referring to future standing, occasions, or circumstances, together with however not restricted to statements about plans and goals, the progress and outcomes of analysis and improvement, potential product traits and makes use of, product gross sales potential and goal dates for product launch are forward-looking statements based mostly on estimates and the anticipated results of future occasions on present and growing circumstances Such statements are topic to quite a few dangers and uncertainties and aren’t essentially predictive of future outcomes. Actual outcomes could differ materially from these anticipated in the forward-looking statements. The firm assumes no obligation to replace forward-looking statements to replicate precise outcomes, modified assumptions or different components.

  • Axita Cotton Announced Share Buyback at Rs. 56 and Achieves Strong Financial Performance


    Axita Cotton, one in all India’s main uncooked cotton producers and exporters, skilled a big increase in its inventory worth in the course of the current buying and selling session. This surge was pushed by the information that the corporate is contemplating a buyback of fairness shares. As a end result, the inventory rallied by 5%, hitting the higher circuit restrict.


     


    (*56*)






    Axita Cotton setting world requirements


     


    To formalize this proposal, the board of Axita Cotton was scheduled to convene on Tuesday, May 23, 2023 and the corporate has introduced whopping Buy again of Rs.56 Per share which is nearly Double then its closing Market Price as on May 24, 2023 at Rs. 27.41. The board rigorously evaluated the feasibility of the buyback in accordance with the provisions outlined within the Companies Act, 2013, and the Securities and Exchange Board of India (SEBI) (Buyback of Securities) Regulations, 2018, whereas sustaining full compliance with all related rules all through this course of. Axita Cotton has proven an excellent compounded revenue development of 265% for the Past 3 years. They’ve additionally been sustaining wholesome ROE of 38% over the previous 3 years.


     


    Following the announcement, shares of Axis Cotton surged by 5%, reaching a worth of Rs 27.30 at 9:55 am, which triggered the customer’s circuit restrict. With this upward momentum, Axita Cotton now instructions a complete market capitalization of Rs. 550 crore. Notably, the inventory had settled at roughly 50% over the previous yr. Axita Cotton Ltd. has declared a dividend in Sept. 19, 2022. They had given Bonus concern of share twice in final 4 Years. The firm is debt free and profitability is rising on a Y-o-Y foundation. No shares of Axita Cotton are pledged.


     


    In phrases of monetary efficiency, gross margins are enhancing and Axita Cotton has delivered strong outcomes. For the quarter ending on March 31, 2023, the corporate reported a internet revenue after tax of Rs. 5.6 crore, with income from operations amounting to Rs. 125.88 crore. Furthermore, for the whole monetary yr 2022-23, Axita Cotton achieved a internet revenue after tax of Rs. 17.09 crore, accompanied by income from operations of Rs. 552.6 crore.


     


    Moving ahead, Axita Cotton stays devoted to upholding our robust efficiency, making certain compliance with regulatory necessities and creating worth for his or her stakeholders. Axita Cotton has a excessive promoter holding of 69.65%. The money conversion cycle is of 24 days (in Financial yr 2022-2023), an ROCE of 48.7% (in Financial yr 2022-2023) and excessive money liquidity.


     


    Also, in compliance with Regulation 42(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 9(i) of the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, the Company has fastened, Friday, June 02, 2023 because the file date for buyback.

  • Paisabazaar Closes FY’23 at an Annualised Loan Disbursal Rate of Over Rs. 15,000 Crore


    Paisabazaar, half of the PB Fintech Group, at this time introduced that it has reached an annualised mortgage disbursal price of over Rs 15,000 crore in March 2023. Paisabazaar registered a 76% year-on-year development in mortgage disbursals, disbursing Rs.11,619 crore in FY 2023. 


     


    FY disbursals grew @ 76% YoY; card issuance @>180percentYoY


     


    Credit Cards issued by means of Paisabazaar grew at greater than 180% yr on yr, reaching an annualised price of over half 1,000,000 bank cards issued in March 2023. Over 4.6 lakh bank cards had been issued by way of the platform within the monetary yr. 


     


    Paisabazaar additionally drives India’s largest credit score consciousness initiative by providing customers free credit score report and rating from all 4 credit score bureaus. Over 3.49 crore customers from 823 cities and cities throughout India had accessed their free credit score report on Paisabazaar by the top of FY 23. According to Paisabazaar, round 14% of lively bureau customers in India, with at least 1 lively credit score product, have checked their credit score rating on its platform. 


     


    Along with the size of enterprise, Paisabazaar has additionally targeted on constructing stronger and sustainable margins, by means of improved processes, higher choices and better conversions. Paisabazaar has been worthwhile (on adjusted EBITDA foundation) since December 2022, forward of steerage.


     


    Yashish Dahiya, Chairman and CEO, PB Fintech, mentioned, “It has been a landmark yr for Paisabazaar. Not solely did it scale the enterprise persistently, but additionally reworked it, turning into basically stronger. As a consequence, it has grown with higher margins and achieved profitability. With sturdy enterprise fundamentals and a consumer-led focus at its core, together with a extra digitally conducive ecosystem and low credit score penetration within the nation, the market alternative for Paisabazaar is very large.”


     


    Naveen Kukreja, Co-founder and CEO, Paisabazaar, mentioned, “The lending ecosystem publish the pandemic has developed considerably, with sharper give attention to constructing digital capabilities. As on-ground digitization turns into extra actual, we’d be strongly positioned to seamlessly cater to customers throughout all credit score segments. We had a powerful yr, and we’re targeted on persevering with this momentum, by means of increased effectivity, sharper segmentation, deeper partnerships and consumer-focused improvements.”




    A key pillar in Paisabazaar’s long-term development technique is its co-created initiatives, aimed to satisfy provide, course of or innovation gaps throughout the lending ecosystem. Paisabazaar until date has launched 6 unique merchandise co-created with accomplice Banks and NBFCs like SBM Bank India, RBL Bank, IDFC First Bank, Federal Bank, DMI Finance and KreditBee. All these co-created merchandise can be found solely on the Paisabazaar platform and could be accessed by means of end-to-end digital processes. 


     


    The co-created merchandise additionally assist drive path income for Paisabazaar, serving to construct a gentle income stream and enhance margins. Through deeper engagements with accomplice Banks and NBFCs, Paisabazaar plans to steadily transition to a path revenue-led enterprise mannequin that may result in long-term profitability. In March 2023, 36% mortgage disbursals and 53% bank cards by means of Paisabazaar had been with path income.


     


    Paisabazaar says its focus can be on long-term development and profitability. It would proceed investing in its model and digital capabilities, which might assist construct scale and enhance margins. 77% of the bank cards issued by means of Paisabazaar in This fall had been finished by means of end-to-end digital processes, whereas 43% of unsecured loans disbursed within the quarter had been by means of fully digital processes utilizing Paisabazaar’s Digital Stack.


     


    There has been over 13X development within the end-to-end digital transactions on Paisabazaar for the reason that starting of FY 22. Today, buyer journeys with 13 companions are end-to-end digitized on the Paisabazaar platform.




    Paisabazaar, through the years, has turn out to be India’s platform of alternative with round 20 lakh customers from 1000 cities and cities making use of for a credit score product in a month. According to Paisabazaar estimates, round 9% of credit score enquiries in India happen on the Paisabazaar platform. Another key half of Paisabazaar’s development technique is to assist drive the economies of segmentation by means of depth and width of product choices on its platform for customers throughout all credit score segments.


     


    About Paisabazaar


    Paisabazaar has earned the belief and goodwill of ~35 million customers during the last 9 years.


     


    Paisabazaar has 65 partnerships with massive banks, massive NBFCs, credit score bureaus and fintech lenders to supply a large alternative of lending merchandise for customers on its platform.


     


    Strong partnerships, constructed by means of know-how and knowledge integration permits Paisabazaar to supply customers digital and straightforward processes and quicker disbursals.


     


    From utility to disbursal, Paisabazaar accompanies the Consumer at every step, offering last-mile help reminiscent of doc assortment and help till disbursal and advise.


     


    Paisabazaar, since 2017, has additionally been offering customers entry to credit score stories from credit score bureaus, providing Consumers lifetime checking and monitoring of their credit score scores totally free. 


     


    Paisabazaar has been acknowledged at a number of trade platforms with awards like ‘Digital Lending Award’ at the Fintech India Innovation Awards, ‘Best Lending Fintech’ at the Bharat Fintech Awards, ‘Excellence in Consumer Lending’ at IAMAI’s India Digital Awards, ‘Outstanding Crisis Finance Innovation (Asia Pacific) Award’ by Global Finance Magazine, ‘Most Innovative Lending Startup’ and ‘Best Fintech Consumer Lender’ by India Fintech Forum and Economic Times’ ‘Most Promising Brand’.

  • PFC Group Clocked the Highest Annual Profit After Tax (PAT) with a 13 percent Increase from Rs. 18,768 Cr. in FY’22 to Rs. 21,179 Cr. in FY’23


    New Delhi, Delhi, India


    Power Finance Corporation (PFC) on Saturday posted an over 44 per cent bounce in its consolidated web revenue to Rs. 6,128.63 crore in March quarter, primarily on the again of upper revenues. The consolidated web revenue of the firm was Rs. 4,295.90 crore in the quarter ended on March 31, 2022.

     


    Consolidated (*13*)


    • PFC group clocked the highest annual Profit After Tax (PAT) with a 13% enhance from Rs. 18,768 cr. in FY’22 to Rs. 21,179 cr. in FY’23.


    • The consolidated web value (together with non-controlling curiosity) jumped by 16%, owing to enhance in income. As on 31st March, 2023, the consolidated web value stands at Rs. 1,11,981 cr. vs. Rs. 96,275 cr. as on 31st March, 2022.


    • Consolidated mortgage asset ebook grew by 13% – Rs. 8,57,500 cr. as at 31st March, 2023 vs. Rs. 7,58,496 cr. as at 31st March, 2022.


    • The asset high quality has additional improved with Gross NPA ratio under 4% at 3.66% in FY’23 vs. 5.02% in FY’22.


    • The consolidated Net NPA ratio almost touches 1% and stands at 1.03% in FY’23 vs. 1.60% in FY’22.


    • On the distribution aspect, in FY23, PFC group has collectively sanctioned Rs. 1,05,566 cr. and disbursed Rs. 32,909 cr. underneath Late Payment Surcharge Rules. LPS was launched in June 2022 to scale back the mounting dues of Discoms and in lower than a yr of its introduction, the excellent dues of Discoms to Gencos have decreased by greater than 40%. This displays the PFC group function in strengthening of the distribution sector.


     


    Standalone (*13*)


    • PFC breaks one other report with the highest ever Annual PAT of Rs. 11,605 cr. in FY’23, a important enhance of 16% from Rs. 10,022 cr. in FY’22.


    • Final Dividend of Rs. 4.50 per share proposed by Board in This fall’23. Thus, thus far PFC has given a whole dividend of Rs. 13.25 per share for FY23.


    • Quarterly PAT witnessed a notable 34% enhance from Rs. 2,609 cr. in This fall’22 to Rs. 3,492 cr. in This fall’23.


    • 15% enhance in web value from Rs. 59,350 cr. as at 31st March, 2022 to Rs. 68,202 cr. as at 31st March, 2023. This displays sustainable monetary efficiency yr on yr.


    • PFC continues to keep CRAR at wholesome ranges. CRAR as on 31.03.2023 is at 24.37%, with Tier I capital at 21.61% & Tier II capital at 2.76%.


    • 67% enhance in disbursement, a substantial uptick from earlier monetary yr – Rs. 85,756 cr. disbursed in FY’23 as in contrast to Rs. 51,242 cr. in FY’22.


    • The mortgage asset ebook elevated by 13% and likewise crossed the Rs. 4 lakh crore mark. The Loan Book stands at Rs. 4,22,498 cr. as on 31.03.2023 in contrast to Rs. 3,73,135 cr. as on 31.03.2022.


    • The Net NPA ratio reached its lowest ranges in the final 6 years, nearly touching 1%. The Net NPA ratio for FY’23 stood at 1.07%, a lower of 69 foundation factors from 1.76% in FY’22


    • In FY23, PFC has sanctioned Rs. 47,906 cr. and disbursed Rs. 16,764 cr. to Discoms for clearance of dues underneath the Late Payment Surcharge (LPS) Rules.


    • To facilitate future enterprise progress, PFC has signed MoUs value over Rs. 90,000 cr. with numerous state businesses in FY 22-23.


     


    Management feedback


    Mr. R.S. Dhillon, CMD Remarks – PFC CMD commented that I’m comfortable to see that PFC has efficiently regained its pre-COVID progress momentum. In FY23, we achieved substantial progress in disbursements and witnessed a outstanding double-digit enhance in our mortgage asset ebook. Furthermore, our lively decision efforts have resulted in an improved asset high quality, with the Net NPA ratio almost reaching 1%. Also, in FY23, we now have strategically diversified into the infrastructure sector, a important milestone determination positioning us for long-term enterprise progress. So far we now have sanctioned ports, refinery and e-mobility tasks.


     


    Moreover, the energy sector is displaying indicators of enchancment. AT&C losses have decreased from 19.90% in FY20 to 16.50% in FY22. The ACS-ARR has additionally decreased from 0.79 paise per unit in FY20 to 0.40 paise in FY22. These enhancements may be attributed to the launch of excellent subsidies, clearance of presidency division dues, and the well timed issuance of tariff orders. Additionally, the introduction of the Late Payment Surcharge Rules by the authorities has proven promising outcomes, with a 40% discount in excellent dues of Discoms to Gencos inside simply 10-11 months of the scheme’s implementation.


     


    These optimistic developments encourage us to capitalize on future alternatives as we stay dedicated to supporting the energy sector, driving infrastructure growth, and contributing to total financial progress.


     


    Ms. Parminder Chopra, Director (Finance) Remarks – PFC Director (Finance) commented that FY23 has been the yr of resurgence for PFC. Notably, we surpassed our personal report and achieved an all-time excessive annual revenue of Rs. 11,605 cr. This excellent achievement is a testomony to our unwavering dedication to excellence and it units a strong basis for our future endeavors.


  • Best Agrolife’s Revenue Crosses Rs. 1,700 Cr., EBITDA Margin Reaches 18%, and 30% Dividend Recommended in FY23


    Best AgrolifeLimited (BAL) (BSE: 539660, NSE: BESTAGRO) immediately reported monetary outcomes for the Quarter and Year ended March 31st, 2023.


     


    Commenting on outcomes, Mr. Vimal Alawadhi, Managing Director, Best Agrolife Limited, mentioned, “I’m delighted to tell you that we’ve got delivered robust income from operations of Rs. 1,746 cr. which is a sturdy development of 44% over FY22. Our fixed deal with introducing the revolutionary merchandise to cater to farmers want has resulted in BAL introducing many specialised mixture merchandise together with patented novel mixture Ronfen in FY23 which drove the expansion in the course of the yr. We have additionally expanded our margins by 427 bps in the course of the yr which was pushed by change in product combine.


     


    Best Agrolife Board has additionally really useful a dividend of 30% (i.e. Rs. 3 per share), which is 50% soar over final yr.


     


    Q4FY23 was tough for the trade at giant as a result of larger channel stock and extra provide from China at decrease costs. Best Agrolife was additionally affected by this as its branded product portfolio is extra targeted on the kharif season. The firm is working in the direction of introducing extra branded merchandise that are targeted on Rabi season which is able to enhance breadth of the portfolio and may even make the portfolio extra balanced which is presently skewed extra in the direction of kharif season.


     


    In line with its dedication to “Make in India”, Best Agrolife has launched into a capex plan to increase its technical capabilities in addition to enhance backward integration which is able to result in decrease dependence on China and higher price construction.


     


    Overall, the corporate has an thrilling product pipeline able to be launched in FY24 that are in line with its technique of introducing extra patented and specialised mixture merchandise which is able to assist proceed robust development momentum in addition to enhance the margins in FY24.”


     


    Key Results Highlights (FY23 Consolidated)


    • Revenue from operations for FY23 grew by 44% YoY to Rs. 1,746 cr.


    • Gross margin for the yr is at 28% as in comparison with 19% in FY22 which was an enlargement of 963 bps YoY.


    • EBITDA for the yr got here at Rs. 314 cr up 89% YoY in comparison with Rs. 166 cr in FY22.


    • EBITDA margin for the yr got here at 18% as in comparison with 14% in FY22; enlargement of 427 bps YoY.


    • PAT for the yr was at Rs. 192cr up 83% on YoY foundation. PAT margin for the yr was at 11% in comparison with 9% in FY22.


     


    Key Business highlights for FY23


    • ​Products Launched throughout FY23


    • Launched a first-of-its-kind proprietary ternary insecticidal mixture – Ronfen. Ronfen is a single-shot resolution that controls all sucking pests in varied crops like cotton, chilly, greens, and many different segments having addressable market of ~Rs. 8,000 cr.


    • Best Agro Group grew to become the primary firm to launch CTPR primarily based formulations CITIGEN & VISTARA in home market. This single molecule has round Rs 2,800 cr. home market.


    • BAL additionally launched area of interest mixture merchandise comparable to Tambo, Axeman, Warden and Reveal throughout FY23.


     


    • ​Approvals and Registration acquired


    • Seedlings India Pvt. Ltd. wholly-owned subsidiary of BAL acquired a patent legitimate for 20 years for the first-of-its-kind fungicidal composition of Cyazofamid, Dimethomorph, and Difenoconazole which goes to emerge as a extremely efficient crop resolution in opposition to Late Blight and Downy Mildew in tomato and grapes crops respectively.The approximate market measurement of this fungicidal composition is Rs. 350 crore.


    • Granted registration for indigenous manufacturing of Pyroxasulfone technical u/s 9(3). The market measurement of Pyroxasulfone is roughly Rs. 450 Crore and is anticipated to develop in coming years.Until now India was depending on different international locations for Pyroxasulfone.


    • Granted registration for the indigenous manufacturing of Propiquazafop u/s 9(3).


    • Granted registration for the indigenous manufacturing of Cyhalofop-Butyl Technical, u/s 9(3).


     


     


    Product Pipeline for FY24


     


    About Best Agrolife Limited


    BAL is a research-based firm targeted on bringing world-class and cost-effective crop options in the type of novel agrochemical formulations to the agricultural trade for enhancing crop productiveness. Currently, BAL has 7,000 MTPA and 30,000 MTPA technical and formulation manufacturing capability respectively by means of three of its manufacturing crops in Gajaraula, Greater Noida, and Jammu & Kashmir. It boasts to have greater than 5200 distributors in lndia and it retains an unrivalled portfolio of 400+ formulations and greater than 100+ technical manufacturing licenses.

  • Quint Digital Media Limited (QDML) Records INR 80.62+ Crore Revenue for FY23


    Noida, Uttar Pradesh, India


    Quint Digital Media Limited (QDML) is India’s solely pure-play, multi-brand, digital media, and media-tech firm. QDML’s consolidated revenues for FY23 elevated to INR 80.62+ crores, witnessing a development of 31+% over the identical interval in FY22 (INR 61.55 crores).


     


    The Quint’s standalone revenues for FY23 grew by a wholesome 20% to INR 44.72 crores; FY22 revenues stood at INR 37.16 crores. 


     


    There was a rise in profitability and EBIDTA on a sequential and full-year foundation in a tricky financial surroundings.


     


    Media-tech operations of Quintype continued their phenomenal development; revenues elevated by 150% to INR 22.49 crores in FY23 (FY22 revenues stood at INR 9 crores). 


     


    The firm efficiently accomplished the divestment of a 49% stake in BQ Prime to AMG Media for INR 47.83 crores. Cash and money equivalents as on 31 March 2023 stood at INR 156+ crores.


     


    The firm efficiently accomplished the Rights Issue and raised INR 125 crores from shareholders. The Rights Issue acquired 1.21X bids, demonstrating the belief reposed by shareholders within the firm and its administration.


     


    The viewers footprint throughout the web sites and digital platforms – together with Facebook, Instagram, YouTube, Twitter, Snapchat and so on. – continued its sturdy momentum. Page views witnessed a development of ​​over 39% over FY22. Further, the digital properties had almost 23 million subscribers/followers throughout numerous platforms on the finish of FY23.


     


    The Quint gained 7 awards from the World Association of News Publishers (WAN-IFRA) on the South Asian Digital Media Awards 2022, together with the Champion Publisher of the Year Award. It additionally gained a number of different prestigious recognitions at India Audio Summit and Awards 2023, afaqs! Vdnonxt Awards, and extra.


  • TVS Motor Company’s May 2023 Sales Registers Growth of 9 percent; 32 percent Growth in Domestic Sales


    TVS Motor Company registered a gross sales development of 9% growing from 302,982 models in May 2022 to 330,609 models in May 2023.


     

    (*9*)
    Two-Wheeler


    Total two-wheelers registered a development of 11% with gross sales growing from 287,058 models in May 2022 to 319,295 models in May 2023. Domestic two-wheeler registered development of 32% with gross sales growing from 191,482 models in May 2022 to 252,690 models in May 2023. 


     


    Motorcycle registered gross sales development of 9% with gross sales growing from 148,560 models in May 2022 to 162,248 models in May 2023. Scooter gross sales registered a development of 3% with gross sales growing from 100,665 models in the month of May 2022 to 103,203 models in May 2023. 


     

    (*9*)
    (*32*) Vehicle


    TVS iQube electrical recorded gross sales of 17,953 models in May 2023 as in opposition to gross sales of 2,637 models in May 2022. TVS iQube has a wholesome reserving pipeline of over 30,000 models and we’re assured of continued enchancment of provides in the approaching months.


     

    (*9*)
    International Business


    The Company’s whole exports registered gross sales of 76,607 models in May 2023 as in opposition to 110,245 models in May 2022. Two-wheeler exports registered gross sales of 66,605 models in May 2023 as in opposition to 95,576 models May 2022. 


     


    Three-Wheeler

    (*9*)
    Three-wheeler of the Company registered gross sales of 11,314 models in May 2023 as in opposition to 15,924 models in May 2022.

    (*9*)
     

    (*9*)
    About TVS Motor Company


    TVS Motor Company is a reputed two and three-wheeler producer globally, championing progress via Sustainable Mobility with 4 state-of-the-art manufacturing services in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take delight in making internationally aspirational merchandise of the very best high quality via progressive and sustainable processes. We are the one two-wheeler firm to have acquired the celebrated Deming Prize. Our merchandise lead in their respective classes in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive 4 years. Our group firm Norton Motorcycles, based mostly in the United Kingdom, is one of probably the most emotive motorbike manufacturers in the world. Our subsidiaries in the non-public e-mobility house, Swiss E-Mobility Group (SEMG) and EGO Movement have a number one place in the e-bike market in Switzerland. TVS Motor Company endeavours to ship probably the most superior buyer expertise throughout 80 international locations in which we function.

    For extra data, please go to www.tvsmotor.com. 

  • Jagatjit Industries Limited Achieves Remarkable Turnaround, Reports Profitable FY 2022-23 Results


    Jagatjit Industries Limited (JIL), a number one producer of Indian Made Foreign Liquor (IMFL) and Country Liquor in India, at present introduced its FY 2022-23 annual outcomes, which mark a stable interval of progress and restoration.


     


    Over the previous three years, the corporate has grown its gross revenues to INR 625 crore, from INR 273 crore, a noteworthy 2.29 fold enhance from FY 2019-20. In FY 2022-23, revenues soared by 24 % with a rise in internet gross sales by 14 %. Furthermore, the corporate moved from a lack of INR (51.65) crore in FY 2019-20 to a revenue of INR 10.62 crore in FY 2022-23.


     


    The EBITDA for March 2023 reached a powerful INR 49.13 crore. For the primary time prior to now decade, Jagatjit Industries has reported a double-digit determine in Profit Before Taxes, signifying its profitable turnaround technique. 


     


    This technique concerned implementing vital modifications, staff constructing and enhancing administration, implementing operational effectivity, figuring out and leveraging new market alternatives, bettering product choices, shifting to a brand new enterprise mannequin of short-term franchise agreements in key markets, and developments in expertise and infrastructure on the manufacturing areas. The profitability turnaround has boosted investor confidence, strengthened its market place and set the muse for sustainable progress and success sooner or later.


     


    Looking forward to FY 2023-24, Jagatjit Industries is ready to embark on a number of key strategic initiatives. Central to that is the objective to make the grain-based ethanol manufacturing plant operational by June 2024, a step that’s anticipated to considerably contribute to the corporate’s revenues and profitability.


     


    The firm may also undertake growth into new markets in Uttar Pradesh, Kerala and the Canteen Stores Department. This growth goals to widen its client base and additional gas its progress to then 22 states. It may also proceed to deepen its presence in present markets of Punjab, Andhra Pradesh, Telangana, Assam to call a couple of. JIL may also additional develop the export markets from 13 to fifteen international locations and set foot in Nigeria and Russia by making its merchandise out there by way of export.


     


    “Through cautious planning, operational effectivity, and a dedication to expertise and innovation, we have now achieved outstanding monetary milestones. This marks the primary time in a decade that Jagatjit Industries studies a double-digit determine in Profit Before Taxes, signifying the success of our turnaround technique,” stated Roshini Sanah Jaiswal, Promoter & Chief Restructuring Officer of Jagatjit Industries Limited.


     


    “Our success is a testomony to the dedication and resilience of our staff, who’ve labored tirelessly to implement key modifications and unlock new alternatives. By streamlining operations, meticulous useful resource planning, enhancing our product choices, forging strategic alliances, and bettering monetary administration, we have now regained investor confidence, strengthened our market place, and set a stable basis for future progress,” she additional added.


     


    Jagatjit Industries’ shares closed at a powerful INR 99.02 on May 30, 2023, on the Bombay Stock Exchange (BSE). Over the previous six months, buyers have loved a outstanding return of 30 % from their investments within the firm. Furthermore, the corporate’s share efficiency during the last twelve months has been actually outstanding, with a considerable return of 66 %.




    The vital upward trajectory of the share value showcases the market’s recognition of the corporate’s robust efficiency, efficient administration, and skill to capitalize on market alternatives. It positions the corporate favorably for continued success, attracting buyers, strengthening relationships, and unlocking new avenues for progress and innovation.


     


    “We lengthen our heartfelt gratitude to our stakeholders – purchasers, workers, shareholders, companions, and communities, whose unwavering assist has been instrumental in our journey. Together, we are going to proceed to create enduring worth, foster resilience, and obtain sustainable progress within the ever-evolving business we function in. The firm is poised for a future that’s each thrilling and affluent,” stated Roshini Sanah Jaiswal.


     


    Financial Highlights

     


    Fourth quarter fiscal 2022


    • Revenues for the fourth quarter of fiscal 2022 had been INR 150 crore, in contrast with INR 128 croer for the fourth quarter of fiscal 2022, a rise of 17.18 %


    • Jagatjit Industries Limited demonstrated a major progress charge of 14 % in consolidated internet gross sales for the fourth quarter of fiscal 2022, ending in March 2023. The firm’s spectacular achievement with internet gross sales reaching INR 150.15 crore in comparison with INR 128.35 crore in the identical interval final 12 months, highlights its profitable adaptation to evolving market dynamics and its means to successfully meet buyer calls for.


    • The quarterly internet revenue for the fourth quarter of fiscal 2022- 23 stood at INR 9.56 crore.




    About Jagatjit Industries

    Founded in 1944 with a heritage spanning 78+ years, Jagatjit Industries Limited (JIL) is amongst India’s outstanding firms manufacturing Indian Made Foreign Liquor (IMFL) and Country Liquor (CL) within the nation. The firm is listed on Bombay Stock Exchange (BSE).

    The firm manufactures a complete vary of alcoholic drinks i.e. Whisky, Vodka, Rum, Gin and Brandy. The firm’s manufacturers within the AlcoBev sector are Aristocrat Premium Whiskey, AC Black Whiskey, Royal Pride Whiskey, King Henry Damn Good Scotch and Iice Vodka.




    The firm has state-of-the-art manufacturing amenities in Kapurthala District, Punjab together with different manufacturing models in Behror, Rajasthan. The firm is Food and Safety Systems Certified (FSSC) 22000 licensed.


     


    The firm has various key verticals: Indian Made Foreign Liquor (IMFL)/Country Liquor (CL), Malted Milk Food and Malt Extract (produces Boost for HUL underneath a contract), distillery for producing ENA for alcoholic drinks, and industrial actual property.

  • Quick Disbursal, Multiple Repayment Options, and More with Bajaj Finance Gold Loan


    Necklaces to bangles, and bracelets to rings, Indians have a robust fondness for gold. In India, gold is way more than only a treasured steel. Its excessive market worth and common acceptance current a dependable collateral possibility. By pledging gold as safety, people can entry funds shortly and simply, utilizing the inherent worth of their gold to safe a mortgage. 


     


    Bajaj Finance Gold Loan




    With Bajaj Finance, debtors can get a Bajaj Finance Gold Loan ranging from Rs. 5,000 as much as Rs. 2 crore with rates of interest beginning as little as 9.50%* each year. All they want is their fundamental KYC paperwork and their 18-22 karat gold jewelry to safe this mortgage. 




    These loans come with a straightforward utility course of, minimal paperwork and a number of reimbursement choices. Borrowers can select a reimbursement tenure that fits their monetary scenario the very best. They can even use the Bajaj Finance Gold Loan Calculator to plan their monetary journey higher.


     



    What makes gold mortgage a wise alternative for fast finance | Bajaj Finserv




    Video Url: www.youtube.com/watch?v=rMmKNPKG5ns


     


    Here’s a more in-depth have a look at the options that make Bajaj Finance Gold Loan a sensible financing possibility: 




    Part-release facility 

    With the half launch facility on supply, debtors can repay part of their mortgage and take a part of their gold jewelry again earlier than the top of their mortgage tenure.


     


    Multiple reimbursement schedules 

    One can select from a number of handy reimbursement choices – repay your complete curiosity quantity initially of the mortgage tenure and pay the remaining principal later. There are additionally month-to-month, bi-monthly, quarterly, half-yearly, or yearly curiosity cost choices to select from. 


     


    No part-prepayment or foreclosures price

    Bajaj Finance additionally gives the choice to pay again part of the mortgage or your complete quantity prematurely at no further value. This reduces the general mortgage servicing expenditure.


     


    Free gold mortgage calculator 

    Bajaj Finance on-line gold mortgage EMI calculator helps customers decide the mortgage quantity relying on the burden and purity of their gold jewelry. Before making use of for a mortgage, they’ll calculate the entire curiosity that will likely be charged alongside with their reimbursement plan.


     


    Transparent analysis 

    Bajaj Finance makes use of top-of-the-line karat metres to make sure debtors obtain most worth for his or her gold. The pledged gold jewelry is saved in safe vaults underneath 24×7 surveillance.


     


    How to use for a gold mortgage from Bajaj Finserv

    Borrowers can stroll right into a Bajaj Finance department close to them to use for a Bajaj Finance Gold Loan. Alternatively, they apply on-line from the consolation of their dwelling by visiting the Bajaj Finance web site and following these easy steps:


     


    1. Go to the Bajaj Finance Gold Loan web page.


    2. Open the web utility type.


    3. Enter their 10-digit cell quantity and get the OTP. 


    4. Submit the OTP to confirm their particulars.


    5. Select their state and metropolis to find their nearest department.


    6. Enter their full title and date of delivery as per their PAN.


    7. Set up an appointment at their nearest department.


    Once the applying is submitted, a consultant from Bajaj Finance connects with the shopper to assist them with the method additional. With greater than 800 branches throughout India, Bajaj Finance gives fast and simple mortgage processing, making certain prospects have a handy mortgage expertise. 


     


    *Terms and situations apply.


     


    About Bajaj Finance Limited

    Bajaj Finance Ltd. (‘BFL’, ‘Bajaj Finance’, or ‘the Company’), a subsidiary of Bajaj Finserv Ltd., is a deposit taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classed as an NBFC-Investment and Credit Company (NBFC-ICC). BFL is engaged within the enterprise of lending and acceptance of deposits. It has a diversified lending portfolio throughout retail, SMEs, and industrial prospects with vital presence in each city and rural India. It accepts public and company deposits and gives quite a lot of monetary providers merchandise to its prospects. BFL, a thirty-five-year-old enterprise, has now develop into a number one participant within the NBFC sector in India and on a consolidated foundation, it has a franchise of 66.05 million prospects. BFL has the best home credit standing of AAA/Stable for long-term borrowing, A1+ for short-term borrowing, and CRISIL AAA/Stable & [ICRA]AAA(Stable) for its FD program. It has a long-term issuer credit standing of BB+/Positive and a short-term score of B by S&P Global rankings.




    To know extra, go to www.bajajfinserv.in.

  • TVS Motor Company’s June 2023 Sales Registers Growth of 3 percent; 22 percent growth in Domestic Sales


    (*3*)TVS Motor Company registered a gross sales growth of 3% growing from 308,501 items in June 2022 to 316,411 items in June 2023.


     


    (*3*)Two-Wheeler


    (*3*)Total two-wheelers registered a growth of 4% with gross sales growing from 293,715 items in June 2022 to 304,401 items in June 2023. Domestic two-wheeler registered growth of 22% with gross sales growing from 193,090 items in June 2022 to 235,833 items in June 2023. 


     


    (*3*)Motorcycle registered gross sales growth of 2% with gross sales growing from 146,075 items in June 2022 to 148,208 items in June 2023. Scooter gross sales registered a growth of 11% with gross sales growing from 109,878 items in the month of June 2022 to 121,364 items in June 2023. 


     


    (*3*)Electric Vehicles


    (*3*)TVS iQube Electric recorded gross sales of 14,462 items in June 2023 as in opposition to gross sales of 4,667 items in June 2022.


     


    (*3*)The first two weeks of June witnessed a decline in EV two-wheeler trade gross sales resulting from readjustment in costs owing to the discount in FAME II subsidy. However, TVS iQube’s order e-book stays very wholesome. We are already seeing a decide up in gross sales and are assured of continued enchancment in the approaching months.


     


    (*3*)International Business


    (*3*)The Company’s whole exports registered gross sales of 79,144 items in June 2023 as in opposition to 114,449 items June 2022. Two-wheeler exports registered gross sales of 68,568 items in June 2023 as in opposition to 100,625 items June 2022. 


     


    (*3*)Three-Wheeler


    (*3*)Three-wheeler of the Company registered gross sales of 12,010 items in June 2023 as in opposition to 14,786 items June 2022. 


     


    (*3*)First Quarter Sales Performance


    (*3*)During the primary quarter of the present monetary 12 months, two-wheeler gross sales grew by 7% growing from 8.6 lakh items in the primary quarter FY 22-23 to 9.18 lakh items in the present quarter. Three-wheeler of the Company registered 0.35 items in the present quarter as in opposition to 0.46 lakh items in the primary quarter of FY 22-23.


     


    (*3*)About TVS Motor Company


    (*3*)TVS Motor Company is a reputed two and three-wheeler producer globally, championing progress via Sustainable Mobility with 4 state-of-the-art manufacturing services in Hosur, Mysuru and (*22*) in India and Karawang in Indonesia. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take satisfaction in making internationally aspirational merchandise of the very best high quality via revolutionary and sustainable processes. We are the one two-wheeler firm to have acquired the distinguished Deming Prize. Our merchandise lead in their respective classes in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive 4 years. Our group firm Norton Motorcycles, based mostly in the United Kingdom, is one of probably the most emotive bike manufacturers in the world. Our subsidiaries in the non-public e-mobility area, Swiss E-Mobility Group (SEMG) and EGO Movement have a number one place in the e-bike market in Switzerland. TVS Motor Company endeavours to ship probably the most superior buyer expertise throughout 80 nations in which we function.

    For extra info, please go to www.tvsmotor.com.