Archive: May 31, 2022

Surya Roshni’s FY2022 revenue touches $1BN milestone

Mumbai, May 31, 2022: Surya Roshni Limited, the largest exporter of ERW Pipes, largest producer of ERW GI pipes and one of the largest Lighting Companies in India, has declared its audited financial results for the quarter and financial year ended March 31, 2022.

Consolidated Financial Performance Highlights

Q4FY22 Highlights

Ø Healthy 39% growth in revenue driven by all the divisions of B2C, B2B, Exports and higher Steel

prices, mainly the price of HR coils

Ø 13% volume growth in Q4FY22 due to growth across business divisions and higher growth in value- added products and markets including API & Spiral Pipes, Actual Users and Exports

Ø EBITDA/MT in Q4FY22 increased to ₹ 5,605 as compared to ₹ 4,251 in Q4FY21

Ø No major impact on supply chain due to the ongoing global geopolitical conflicts

Ø Witnessing robust order flow with enquiries remaining consistent in value-added products

Ø The company has received the highest-ever single order of 3LPE API coated pipes valuing ₹608.6

crore (incl. GST). The total order book now exceeds ₹ 1,000 crore

FY22 Yearly Highlights

Ø Revenue of ₹ 6,402 crore in FY22 as compared to ₹4,328 crore in FY21, an increase of 48%

Ø EBITDA/MT for FY22 improved to ₹ 4,648 as compared to ₹ 3,525 YoY, due to improved product mix of value-added products. API & Spiral Pipes and Exports registered a volume growth of 62% and 25%, respectively

Ø Better working capital management improved working capital utilization, despite a sharp increase in steel prices during the year. For full year basis, the working capital days has reduced from 71 days to 55 days

Commissioned large-dia section pipe facility with DFT Technology:

Ø Commissioned the Large-dia section pipe facility with Direct Forming Technology (DFT) at Gwalior in mid-April, 2022, which has also added a capacity of 36,000 MTPA of the new product categories.

Ø Will enable the company to further improve its presence in domestic as well as export markets

Q4FY22 Highlights

Ø Q4FY22 witnessed growth across all business divisions of B2C and B2B, both on a sequential and last year basis

Ø 23% growth in LED Lighting revenue on a YoY basis. Share of value-added products like LED battens and Down-lighters improved along with volume growth

Ø EBITDA margins witnessed improvement on a sequential basis, however subdued from the last year on account of increase in material cost upto 10% due to continuous inflationary pressure in raw material prices and input costs

Ø Company pro-actively undertook multiple price hikes to partially mitigate the increased input costs

FY22 Yearly Highlights

Ø LED lighting witnessed strong revenue growth of 18% during FY22, with growth in both B2C and B2B

Ø Consumer Lighting grew by 16%, with higher growth of value-added products

Ø Professional Lighting witnessed 10% growth in revenue, with consistent flow of orders

Ø LED lighting bulbs replacement cost has witnessed a major reduction

Ø Conventional lighting witnessed de-growth of 11%. Consumer durables has recovered well with the ongoing summer season, earlier impacted by higher commodity prices

Ø The year has seen an unprecedented increase in input costs, particularly in Oil, Natural Gas and

Commodity prices. With partial price increases, EBIDTA margins remained impacted during the year

Ø Surya approached the year with aggressive advertisement and marketing campaigns through TV advertisements, print and digital media

Ø Working Capital days have improved during FY22 to 73 days from 77 days in FY21, with a focused approach on the collection, higher use of channel financing and managing global supply chain challenges

Commenting on the results, Company’s Managing Director, Mr. Raju Bista, said “We are delighted to report the highest ever revenue for the company, achieved revenue milestone of $ 1 billion. I would like to attribute this phenomenal achievement to our team’s relentless efforts and emphasis on innovation, product and market development, premiumization and strong brand equity.

For FY22, the top-line grew by 39%, underpinned by a healthy product mix driven by growing share of value-added products across Steel Pipes, Lighting and Consumer Durables. This resilient performance reflects operational excellence, with a better mix and healthy profitability despite multiple headwinds.

The company has now repaid all the long-term debt and has become a long term-debt free company. The company has only short-term working capital debt, which the company is planning to optimize further in the coming quarters. The company’s Steel Pipes & Strips and Lighting & Consumer Durables businesses are now independent and self-sustaining in terms of profitability, debt servicing and investment for growth, resulting into constant growth in revenue and profitability, coupled with upgrades in credit ratings.

In the Steel Pipes and Strips, the company reported a revenue growth of 39% in Q4 and 48% in FY22 and a healthy growth in profit before tax (PBT) of 84% in Q4 and 63% in FY22. The improvement in realizations were driven by higher steel prices and consistent increased share of margin accretive API pipes and Exports. The company’s focus on premium products and geographical diversification of plants has worked well, translating into improvement in profit margins. The recently inaugurated large-dia DFT manufacturing facility is expected to enhance the margin profile further. Going forward, the company will continue to focus on growing the revenue share of value-added products and exports.

In Lighting and Consumer Durables, the company has witnessed revenue growth in LED Lighting with 23% in Q4 and 18% in FY22. The new age product lines are gaining strong momentum with special focus on LED battens and LED down-lighters which registered volume growth of 50% and 100% respectively. We continue to launch premium products as per market needs. The company is witnessing a healthy momentum in the Fans segment on account of a severe heatwave across the country. During the year, the company undertook multiple price hikes to partly mitigate the impact of higher commodity prices and other input costs. We remain focused to enhance profit margins by improving product mix through growing share of premium products and smart lighting.

Initiatives such as Salesforce Automation (SFA) have been rolled out across all the regions and have started contributing to productivity enhancement, focused approach to bring down replacement cost has worked well. The company has intensified advertising and branding activities in order to transform into modern, innovative and stylish brand.

The company is witnessing good enquiry order inflow and will continue to focus on participating in multiple Smart Lighting projects in Professional Lighting. The company also strengthened further the semi-urban and urban distribution network, which is now one of the largest in the industry.

The company is witnessing multiple triggers such as a growing mix of value-added products across segments, strengthened balance sheet, strong value propositions and cost rationalization. This, coupled with improved economic activity is expected to drive the growth in the upcoming quarters.

The company has given responsibility of Chief Financial Officer (CFO) to Mr. Bharat Bhushan Singal, who is also playing a role of Sr. V.P. and Company Secretary since last 26 years. He is a well-qualified professional, a Chartered Accountant, Company Secretary & Cost Accountant and has played a key role in various strategic initiatives over the years and is well-versed with company’s system and processes. I congratulate Mr. Singal for his new role and look forward to work closely with him to achieve the goals, going forward.”

Sennheiser showcased its’ Professional Audio product Portfolio at PALM Expo 2022

Mumbai, May 2022: Sennheiser has always set a new benchmark in the industry when it comes to launching best in-class technology and audio solutions. In order to showcase their wide range of products, Sennheiser participated at the PALM Expo 2022 to sustain their brand’s visibility. PALM Expo is India’ globally renowned highly reputed international exhibition on Pro Audio, light, audiovisual for entertainment, event and music production.

This time, they came up with a Nuemann experience zone for consumer/ attendees to personally experience and gain deeper insights on some of their flagship monitors and microphones. Additionally, to leverage the platform the brand showcased their new product, Miniature Clip Microphone (MCM) from their Nuemann family. It is brought up in the market keeping in mind that rather than making multiple mics for different instruments or environments, the MCM will be a go-to close mic in live sound, broadcast, and recording applications, whether capturing a solo piano, spot miking an orchestra, or anything in-between.

They also showcased premium products from the Sennheiser family like Digital 6000, 2000- IEM, EWD (evolution wireless digital), wired microphones, evolution G4 series, Pro headphones, Sennheiser audio for video.

Mr. Vipin Pungalia, Director, Professional Segment, Sennheiser Electronics India Pvt. Ltd. said “We at Sennheiser have always been committed in delivering and introducing audio professional products for our stakeholders. The main objective is to evolve as per the industry needs to make life seamless for our audio professionals, enable them to capture the best of audio and video content. We are excited to be back with offline events after pandemic which is almost 3 years. PALM Expo is a great platform to showcase our products as the industry comes together under one roof with technologies that shape the present and future of audio.”

Sticking true to its commitment, Sennheiser showcased the best of audio solutions at PALM Expo 2022 which are designed to provide an immersive experience and connect audiophiles, musicians, DJ’s, content creators, broadcasters and other professionals to the future of audio. Also, Sennheiser facilitated their partners with a global recognition for their contribution.

CRC Group puts up a Blood Donation Camp, hailing its Spirit of Noida Campaign

CRC Group, a leading NCR-based real estate developer organised a blood donation camp at their Corporate Office in Logix Techno Park, Tower A in Sector 127, Noida. It is one of the initiatives undertaken as a part of its ‘Spirit of Noida’ campaign. The camp was to encourage people to donate blood to save lives and how it is significant for the greater good of the society.

The CRC Group members wholeheartedly participated in the blood donation activity and ensured that all Covid-19 protocols and safety measures were carried out in a proper manner.

Upon the completion of the blood donation camp, Mr. Kunal Bhalla, Co-founder & CEO, CRC Group said, “Our company is making efforts to promote good social ethics and believe in establishing a value-based Group legacy. It was wonderful to see enthusiastic participation of our team members in the blood donation camp. Their efforts are unforgettable and cherishable. The Spirit of Noida campaign has been put in place based on two principles: – the awareness of social responsibility and collective consciousness. These two combined will bring social reform and change. The Blood Donation campaign is one of the ideological outcomes of a collective effort to promote the idea of social responsibility. We witnessed an amazing response and we promise to keep doing such initiatives in the future as well.”

Glamyo Health, a healthcare brand to double its employee strength

New Delhi, May 2022: Glamyo Health, a healthcare brand operating in the fields of elective and cosmetic surgeries, has announced to increase its employee strength to 2X within the next six months. Currently, the healthcare brand has a total employee strength of 300 and with the fresh enrollment, the number is likely to cross the mark of 600.

Glamyo Health recently announced the ambitious targets for the fiscal FY 22-23 including reaching a milestone figure of Annualised Run-Rate of USD 80M. To accelerate the same the company is streamlining and strengthening its workforce which will bring new skillsets and energy to enable the strategies.

With a vision to change the healthcare scenario in India by providing the best medical care, the brand looks forward to onboarding candidates across multiple departments. The recruitment drive will include maximizing the strength of Business Development Manager (BDM) and building the dedicated teams across various other departments including Central Operations, HR, and support.

Most of the hiring will be for the NCR location where the brand is headquartered.

“We aspire to make Glamyo health as India’s No.1 healthcare company and as we move ahead, we would need to strengthen the team. We are growing 20% every month, and with the rigorous expansion on cards, we are on a lookout for a lot of talent. In the current times when many startups are laying off, we are aggressively hiring quality talent and looking to support deserving professionals,” said Mr. Archit Garg, Co-founder of Glamyo Health.

“Healthcare sector gained a lot of attention from entrepreneur post COVID-19 who identified the gaps and took the leap of faith to fix the crippled system. This is just the beginning, and as we move forward, we seek people who can join us and understand the vision. Since this is about larger picture, we seek aspirants who would be in the journey for a longer stint,” Dr. Preet Pal Thakur, Co-founder of Glamyo Health.

The brand in a short span of time, has successfully reached and worked with 350+ hospitals, treating over 1 Lakh+ patients pan India. Glamyo Health has also increased its marketing budgets to push its expansion and achieve the target of scaling from 16 cities to 45+ cities .

The Centre stage of Luxury in Sion has a new address Dosti Mezzo 22 by Dosti Realty

May 31, 2022: Dosti Realty, known for delivering quality homes and fulfilling the home buying needs of more than 9700+ families so far, brings in yet another residential gem ‘Dosti Mezzo 22′ at Sion.  Just 2 mins from Sion Circle and adjacent to the well-known Dosti Elite, once again Dosti Realty is setting the benchmark and redefining the Sion skyline.

Sion as a location is a powerhouse combination of both lifestyle and convenience as it is located at the centre of it, making it an all-inclusive hub of the city. Its proximity to the Eastern Express Highway and to BKC through the Sion – BKC flyover eases commute to the Central and Western suburbs. While the Eastern Freeway which is around 9 mins away provides easy access to South Mumbai locations like Nariman Point, Fort, and Colaba. This offers one a hub of opportunities for entertainment and indulgences with their family, friends, or colleagues across the city.

Dosti Mezzo 22 by Dosti Realty will be a stopping point for homebuyers seeking well-planned, modern homes with a transcending living experience, topped with the ease of connectivity, existing infrastructure, and the ROI in the long run because of the forthcoming developments.

Curated by award-winning Padma Bhushan winner Architect Hafeez Contractor this marvel has been thoughtfully designed for that stage in the life of lavish indulgences. Dosti Mezzo 22 will have luxurious 2 BHK and 3 BHK residencies and for those who wish to take it up a notch, 4 BHK, 5 BHK, and 6 BHK Jodi residences are also available. Ensuring that your everyday outdoor experiences are something to remember, the lush landscaping across the project has been done by internationally well-known landscaping consultant Sitetectonix Pvt. Ltd., Singapore.

Dosti Mezzo 22 will house the best of lifestyle amenities that have been spread across levels catering to the everyday indulgences of all age groups. The ground floor level includes a Fitness Area, Children’s Play Area, Yoga Deck, Lounge Pavilion, Reflexology Trail, Cricket Lawn, and Cricket Practice Net facilitating a healthy quotient to living.

The 4th podium level activity areas have been designed keeping in mind the entertainment aspect of life, from a 25 M Lap Pool with Deck, Shallow Pool with Deck, Aqua Play with Deck for Kids to a Lawn and 2 Banquet Halls with Outdoor Lawn. From pool parties to various other celebrations or just lazing on the pool deck on a hot summer’s day, luxury is an everyday experience. There is also an indoor area at the 4th podium level with a gymnasium and an indoor games area which will be a euphoric space for people inclined towards Cards, Carrom, Chess, Table Tennis, Foosball, and Pool.

For Sunday brunches with friends and family or the Saturday night guests, facilities like a barbeque deck, viewing deck, and star gazing deck at the terrace level will be adding to the overall impression of a perfect residential space suitable for a grand lifestyle. Besides this, there is also an outdoor gym where one can exercise and enjoy stunning views of the Mumbai skyline.

Mr. Deepak Goradia – Chairman and Managing Director, Dosti Realty says, “In real estate, we have the saying, it’s all about location, location, location. Dosti Mezzo 22 being situated in the heart of Sion is a prime location that is well connected to various parts of the city. What we have done today with Dosti Mezzo 22 is bring that luxury element to this prime spot, making it the perfect blend of location and lifestyle. The project has been intricately curated down to the smallest detail, keeping in mind that luxury is all in the details and also the diversified needs of our customers. Not only that, for a starting price of just Rs 1.79 CR* for a 2 BHK and Rs 3.16 CR* for a 3 BHK, this is a once-in-a-lifetime investment opportunity. Also, for a limited period, we have kept a 0-stamp duty and registration offer so that customers do not get affected by the 1% increase in cess. And for the icing on the cake, we’ve tied up with various financial intuitions to offer Flexi payment* options.”

Keeping the luxury and the green aspect hand in hand, Dosti Mezzo 22 will increasingly contribute to the sustainable way of living as well. The charging facility for EVs across various levels of parking will ease the homebuyers who are willing to make a shift from fuel-based vehicles to Electric Vehicles, in tandem with the cause of the government initiative. Around 90 Native trees will be used for landscaping the surroundings of the project site. In addition, to provide picturesquely green surroundings, these plants/trees would adapt to the environmental conditions leading to minimum water requirements. Rainwater harvesting, sewage water treatment plant, organic waste converter, solar panels, and solar-powered lighting of common areas, internal streets, and landscapes that come with daylight sensor-based fittings and LED lights, are a part of the green features that will contribute to the sustainable way of living.

Dosti Realty aspires to offer the best in terms of residencies to Sion, staying strong on its commitment to ensuring that only the highest standard of living is available to all its residents.

Dosti Mezzo 22 is registered under MahaRERA No. P51900026976 and is available on

the website – https://maharerait.mahaonline.gov.in under registered projects. Please note that the sale/ lease of premises in the above-referred project shall be subject to and governed by the terms and conditions incorporated in the Agreement for sale/ lease. This project is funded by Aditya Birla Finance Limited.*T&C Apply

Tata Consultancy Services and Deakin University’s DeakinCo. join hands to amplify clients’ business outcomes through the application of critical technologies

31st May, Bangalore: Deakin University’s corporate learning and development division, DeakinCo. has joined forces with Tata Consultancy Services (TCS) to co-develop a corporate learning program for business leaders and decision makers. This would meet the growing need to understand, manage and progress adoption and application of emerging technologies, such as artificial intelligence, machine learning, data analytics and robotics across their businesses.

The program, for senior managers and leaders was launched at the India Habitat Centre in New Delhi in the presence of Sarah Storey (Australia’s Deputy High Commissioner to India), Glenn Campbell (CEO, DeakinCo.), Ankur Mathur (Head, Education Business, TCS) and Ravneet Pawha (Vice President – Global Alliances, Deakin University).

The event was attended by senior executives from the industry and the panel discussion on ‘Application of Critical Technology skills for better business outcomes’ featured experts Piotr Pluta (Education Business Unit Advisor, TCS Europe and Global Lead, Corporate Digital Academy TCS Education), Prashant Garg (Partner, Ernst and Young) and Avik Sarkar (Associate Professor, Indian School of Business).

This new program brings together Deakin’s academic excellence and its significant experience in lifting workplace capability for its clients and TCS’ extensive industry networks and experience.

Facilitated by leading academics and industry experts, the program is designed to address specific capability gaps in non-IT decision making and leadership positions. This will help understand the business imperative of adopting AI and machine learning. The program provides learning and current real life case studies on the use and governance of AI and machine learning and is tailored to each industry and business.

Designed to be delivered either digitally or as a blended experience incorporating both face-to-face and self-paced sessions, the program will have customisable elements to meet the needs of each client. This includes detailed, industry-relevant case studies, practical workshops, and direct access to leading practitioners.

“Both Deakin and TCS realise the importance of anticipating future workforce needs and that there’s a real risk of falling behind,” said Professor Iain Martin, Vice Chancellor, Deakin University.

“In areas such as AI and machine learning, we are already seeing some of the consequences of this across the world, including India, with employees and businesses unable to bridge the skills gap – things are moving so fast, and competition is fierce.”

“This program combines strong theoretical knowledge with up-to-the-minute industry know-how, which ensures participants are able to stay ahead in these rapidly evolving fields. DeakinCo., Deakin University’s corporate learning division, is absolutely at the forefront of new skills training and works directly with the industries that require it to remain competitive.”

“We are delighted to partner with DeakinCo., Deakin University’s corporate learning division, to help talent from across India’s leading organisations and across the world in developing digital skills,” said Ankur Mathur, Head, Education Business, TCS.

“This partnership brings together unique academic and industry expertise in technology areas, to help leaders and decision makers with non-IT backgrounds enhance their skills and grow their businesses by applying new technologies. At the same time, this partnership is a testament to our deep commitment and passion for digitally transforming education. It further highlights our continued investment in bringing credible and unique learning programs to the Indian market.”

Glenn Campbell, CEO, DeakinCo. said, “This program is designed for leaders and decision makers who are overseeing AI projects and don’t have a technical background. It will provide them with knowledge and case study exposure to understand the business imperative of adopting and implementing AI throughout their organisation’s operations. Issues of governance, risk and ethics are also covered.”

CarDekho’s launches 2nd Mega Refurbishment Centre for Used Cars

Mumbai, May 31 2022: CarDekho, India’s leading auto-tech company, has opened its mega refurbishment centre in Mumbai for Used Cars. This is the company’s second mega refurbishment centre in the country after NCR. The Mumbai centre will take full control of the refurb process and set quality benchmark through advanced state-of-the-art infrastructure while optimising cost through scale of operations. The company plans to open 20 such refurbishment centres across India in near future.

With 1000 cars monthly refurbishment capacity, the centre will employ 100+ employees once fully operational. As a result of having best-in-class inhouse refurbishment centers, Cardekho ensures that all vehicles sold on its platform are of the highest quality.

CarDekho offers a 7 days ‘No Questions Asked’ money-back guarantee on all cars where customers can test-own the car and return it if not satisfied. Also included are 6 months of warranty, and complementary Pan-India roadside assistance (RSA) for all car buyers. A free insurance package and RC transfer are also included with the car.

Sharad Saxena, CEO – Used Car Business, CarDekho Group, said, “The opening of our mega refurbishment centre in Mumbai marks another milestone for the company in its quest to provide the best pre-owned vehicles to its customers. The cars refurbished at this centre will carry CarDekho’s trust that offers reliability, affordability and unmatched satisfaction. This centre integrates the Group’s best know-how and reinforces our vision to disrupt the personal mobility space in India. We want our customers to live our promise of ‘Bharosa Kar Ke Dekho’.”

The refurbishment centre is equipped with State-of-the-art Brake, Suspension & Side Slip Tester, Hitech Pneumatic Tools & Equipment, 3D Wheel Alignment, Wheel Balancing, mechanised Tyre changing, Air Conditioning Service, Injector & Spark Plug Cleaning and a fully mechanised Bodyshop with Electric Dent Pullers, Double action sanders with vacuum extractors, Infrared heating Machine & full functional heated Downdraft Paint Booth along with inhouse paint mixing facility for high-quality painting.

New job postings at an all-time high

Bengaluru, 31 May, 2022 – Indeed, the world’s no.1 job site today revealed that the Indian labour market is witnessing a positive momentum as new job postings in India are seeing a record high number. New job postings in May 2022 saw over 33% growth above the pre-pandemic baseline (February 2020). This showcases the increase in demand for hiring across several industries.

Sashi Kumar, Head of Sales for Indeed India noted “People are returning to their offices, firms are resuming operations, consumption is increasing, and life is returning to normal. Majority businesses are confident in their ability to deal with future pandemic waves. It feels like the labor market recovery has really found its footing. Job growth continues to accelerate and more workers are finding jobs or starting to pick up their job search. Sectors tied to the reopening of the labor market are leading the way, giving some hope that these gains can continue in the months ahead.”

India’s job posting by occupation group on Indeed

Demand for talent in India is elevated across multiple categories, although to a much greater extent in some occupations than in others.

Increase in job postings is strongest in Marketing (188%) as compared to the month of April 2022. This was followed by Civil Engineering (177%), Sales (72%) and Architecture (63%), rounding off the top 4 sectors in terms of increase in postings. The impact of COVID-19 has not been evenly spread across sectors. Some sectors, such as Beauty and Wellness (-57%) and Food Preparation and Service (-54%) continue to degrow. This is largely due to the fact that a majority of the roles in these sectors include in-person jobs which are yet to meet their pre-covid demand. When the pandemic began, marketing budgets were the first to get cut. However, last year, brands and companies have turned up the dial on customer demand for digital experiences which could have led to an increase in demand for marketing.

Overall job market and what’s in the future?

The situation continues to evolve, but we can say hiring in India is getting better. High inflation is perhaps the biggest near-term challenge for the Indian economy and labour market. Rising inflation has been driven by higher business costs which could potentially impact the ability of some Indian businesses to pay higher wages or hire additional staff.

Overall job postings on the Indeed platform have increased by 38.6% since the onset of the pandemic, indicating an optimistic outlook for the rest of the year. Overall, India job postings have exceeded pre-COVID levels since September 2021.