Archive: February 14, 2024

Himalaya Wellness Company launches the 2024 Edition of their Flagship initiative – ‘Ek Nayi Muskaan’

Hyderabad, February 13, 2024: Himalaya Wellness Company, one of India’s leading wellness brands, announced its Muskaan initiative in the highly anticipated 2024 edition. This humanitarian initiative, known for spreading smiles and fostering well-being among children with cleft lip and palate is expanding its reach to 500+ districts in its newest edition after facilitating 1800+ free cleft lip surgeries, in partnership with Smile Train India, across the country.

Himalaya Wellness Company in collaboration with Smile Train, the world’s largest cleft-focused NGO, has been dedicated to spreading awareness about the facial birth difference of cleft lip and palate and supporting 100% free cleft surgeries, has been providing healthy smiles to underprivileged children for more than 8 years.

Commenting on the occasion, Mr Rajesh Krishnamurthy, Business Director, Consumer Products Division, Himalaya Wellness Company, said, “As the market leader in the lip balm category, Himalaya is proud to continue setting standards for quality and efficacy. With each passing year, we remain dedicated to fostering greater brand love among our valued customers, ensuring that Himalaya Lip Balm remains their trusted choice for lip care. Muskaan holds a special place in our hearts, and witnessing numerous children gaining access to a healthier and more joyful life through cleft repair surgeries is an enriching experience. A smile is an expression of happiness, and with “Ek Nayi Muskaan”, we intend to create more smiles by helping children achieve their dreams and live fulfilling life. This initiative reflects our overall brand thought – ‘Khush Raho Khushaal Raho’ that captures our vision of ‘Wellness in every home, Happiness in every heart’.”

Since the inception of this initiative in 2016, Himalaya, in collaboration with NGO Smile Train India, has relentlessly pursued spreading smiles to cleft-affected children in need. Himalaya donates Rs 5 towards cleft surgery for every purchase of a Premium lip care pack.

Indian Cricket icon, Yuvraj Singh added “Our future hinges on the well-being of children, and nothing should hinder their genuine happiness. The ‘Muskaan’ initiative, dedicated to bringing everlasting smiles to children with clefts, stands as a crucial and indispensable cause. It not only guarantees a bright future for these children but also extends its positive impact on their families. I am delighted and fortunate to be part of this journey dedicated to spreading joy and smiles.”

Highlighting the significance of the Initiative, Mamta Carroll, Smile Train’s Senior Vice President & Regional Director for Asia said “Cleft conditions significantly impact a child’s health, affecting basic functions like eating, breathing and speaking, and may also lead to social stigma and isolation. Timely cleft surgery and associated cleft care are crucial, not only transforming a child’s appearance but also preventing potential health issues and improving their quality of life. Delaying surgery can lead to speech, hearing, and mental wellness difficulties. With Muskaan and our partnership with Himalaya Wellness Company, we aim to raise awareness about clefts, making free surgeries and comprehensive care readily available to more children in India.”

Toyota Hilux Brings More Excitement to the 2nd Round of the Dirt Bike Race Held in Ahmedabad

Bengaluru, 13 February 2024: Last year June, Toyota Kirloskar Motor (TKM) proudly announced its collaboration with the Indian Supercross Racing League (ISRL), with its iconic Hilux being the official vehicle partner. This ISRL marks the world’s first franchise-based supercross racing league in India. This year, the league has organized a three-round season that kicked off with its first dirt bike racing that concluded in Pune in Jan 2024. Following this, the second leg of the ISRL season was held at Trans Stadia in Ahmedabad on Feb 11th, 2024. The partnership between TKM and ISRL continues to create unforgettable experiences, captivating audiences and setting new standards for motorsports and automobile enthusiasts in the country.

Globally, Toyota has a strong history in motorsports, dating back more than 60 years, associating and competing in various prominent motorsport events such as the World Rally Championship, Dakar Rally, World Endurance Championship, and so forth. Toyota’s motorsport divisions namely Toyota Racing Development (TRD) and Toyota Gazoo Racing (TGR) have a legacy in racing that has led to expanded knowledge and the development of ever-better cars over the years. Toyota strongly believes that ‘everyone has a racer inside and being part of the team means playing a role in building something greater and making history together’.

The Hilux, aimed at elevating the excitement of the ISRL spectators, delivered breathtaking off-roading performances on intricately designed rough tracks with various obstacles, including articulation, side-inclines, steep hill ascents, and descents. The Hilux, celebrated for its outstanding off-roading prowess, was prominently displayed at three strategic locations across the event areas. The official ceremony, leading to the start of the race, featured a Toyota Hilux, loaded with dirt bikes making a grand entrance, and showcasing its unique strengths on the supercross tracks, bringing immense joy to the stadium’s onlookers.

The high-energy, off-road, in-stadium supercross league unfolded on a specially constructed dirt track, featuring steep jumps and obstacles, with renowned riders from both the Indian and global arenas. Adding an extra layer of excitement to the racing spectacle, the Toyota Hilux, an ideal vehicle partner boasting 4×4 drive capabilities, delivered an eye-catching performance for the audience with its curated acts. Furthermore, the iconic Hilux also catered to the essential needs of the ISRL teams, and the officials required for conducting the exhilarating dirt bike race. ISRL’s second league was graced by the presence of the Hon’ble Chief Minister of Gujarat, Shri. Bhupendra Patel Ji, along with Mr. Veer Patel, Mr. Eeshan Lokhande, and Mr. Aashwin Lokhande, Co-founders and Directors of the CEAT Indian Supercross Racing League.

The Indian Supercross Racing League (ISRL) featured six teams, each comprising 8 riders. Professional bikers showcased their skills by navigating challenging off-road setups, completing 11 laps, and showcasing a high-end race of international caliber. The event showcased a diverse range of customized bikes from renowned international brands like Kawasaki, Honda, and KTM, spanning from 85cc to 450cc, including a junior category. The racing teams were represented by well-known team owners, which include BB Racing, BigRock Motorsports, Reise Motorsports, Mohite’s Racing Team, Gujarat TrailBlazers, and SG Speed Racers. The race attracted a crowd of 10,000+ spectators, consisting of avid off-roading enthusiasts and passionate fans from both bike racing and car communities, including Hilux customers.

Speaking on TKM’s partnership with ISRL, Mr. Sabari Manohar, Vice President – Sales-Service-Used Car Business of Toyota Kirloskar Motor, said, “Indian Supercross Racing League embodies excellence in dirt bike sport, and we are thrilled to collaborate with them as the official vehicle partner, engaging iconic Toyota Hilux. Toyota’s commitment to motorsports in India finds a new expression, through this engagement with ISRL. For dirt bike racing, the Hilux remains the ideal choice with its extraordinary off-roading strengths on the dirt tracks, which is key to catering to ISRL’s specific requirements, leading to the successful Supercross league.

Post the exciting first season of ISRL which concluded last month, the Hilux yet again emerged as the perfect companion, facilitating the setup of challenging tracks for the second round of the supercross that was held in Ahmedabad. Strongly supported by Hilux’s exceptional offerings, the ISRL delivered an extraordinary dirt bike race bringing a lot of fun to the enthusiastic spectators.

The Hilux continues to deliver versatility to our valued customers, seeking an exceptional lifestyle utility vehicle be it for their personal use and or business purposes”, he added.

Sharing his views about the official vehicle partnership with Toyota, Mr. Veer Patel, Director & Co-Founder – Indian Supercross Racing League, said, “It has been an exciting journey for us associating with Toyota Kirloskar Motor as our official vehicle partner – Hilux, for the Indian Supercross Racing League. Toyota Hilux is a perfect fit for our dirt bike racing event. Throughout these two leagues held thus far, the smooth movement of our dirt bikes to the race arena, facilitated by Hilux and its amazing 4X4 demonstrations have contributed to delivering a seamless, high-energy racing spectacle, further creating a good momentum amongst the passionate dirt bike fans. With Toyota’s support, we are extremely thrilled to bring a world-class experience to our enthusiastic audience and skilled racers. We are elated with the exhilarating culmination of our second dirt bike race of the three-round season, captivating the hearts of the viewers.

The ISRL will further hold a final round this month which is being planned at Delhi. The official vehicle partner of ISRL, the Toyota Hilux, equipped with unparalleled 4×4 driving capabilities, emerges to bolster the Supercross League. Through this meaningful collaboration, we will continue to entertain the growing motorsports fans across India”.

Last year, TKM rolled out its uniquely structured off-roading experiential drive with the introduction of the ‘Great 4X4 Expedition by Toyota’ in India. This initiative served as a platform for 4X4 fans to fully explore the capabilities of their 4×4 SUVs. A series of distinct zonal 4X4 drives were conducted across the South, East, West, and North regions of India, offering unforgettable experiences for the vibrant 4X4 community, which included other SUV brand owners alongside Toyota customers. Further, this year, Toyota is planning to host yet another exciting ‘Great 4X4 Expedition’ in the northeastern region. Needless to mention, to foster a strong connection with sports enthusiasts, TKM’s collaboration with the Supercross league stands as an integral part of the company’s expanding motorsport initiatives in the country.

BioAsia 2024 set to pioneer Government-Industry Collaboration to spark Innovation and Showcase India’s Potential

Hyderabad, February 13, 2024: BioAsia, Asia’s premier life sciences and healthcare forum, is set to kick off engaging discussions enriched with profound expertise in healthcare and technology. Celebrating its 21st edition, BioAsia stands as a testament to the pioneering collaboration between the government, academia, and industry, sparking innovation and driving growth in the life sciences sector.

With the significant and steady growth in the support of industry leaders around the world, BioAsia 2024 aims to establish India and Telangana as the new global innovation hub in the life sciences industry. This will be the first time, the event will have five industries joining together as Principal Industry Hosts including Novartis, Dr. Reddy’s Laboratories, Bristol Meyers Squibb, Laurus Labs, and Sai Lifesciences. This highlights the equal excitement and interest of Indian Multinationals and global multinationals alike to partner with the Government for BioAsia.

They will be joined by Medtronic, Aurobindo, Hetero, and Aragen as Industry Co-hosts, and CEO Conclave 2024 will be powered by “Rx Propellant”, which is a UK-based Actis portfolio company. This collaborative effort underscores the commitment of these industry leaders to ignite and accelerate development conversations within the life sciences ecosystem.

Mr. Sridhar Babu, Minister for Industries and Commerce, Government of Telangana, expressed his enthusiasm for the partnership, stating, “BioAsia 2024 exemplifies the power of Government-Industry collaboration in driving innovation and shaping the future of the life sciences industry. Together, we are charting a course for transformative advancements that will benefit society and propel economic growth. Companies like MSN Labs, Milteyni (Germany), Citeline (UK), Garmin (US) Sartorius (Germany), Virchow Biotech, Neovantage (Singapore), Gland Pharma, Cohance (US), Bharat Biotech, Roche (Switzerland), etc have also partnered with the Government to design the sessions, contribute to knowledge sharing and ensuring the event is extremely successful.”

Mr. Jayesh Ranjan, IAS, Principal Secretary, Industries & Commerce Dept., Government of Telangana, commented, “In today’s rapidly evolving landscape, collaboration between Government and Industry is paramount to drive innovation and foster growth. BioAsia 2024 exemplifies our commitment to fostering a vibrant ecosystem”.

BioAsia, hosted by the State Government of Telangana, is dedicated to advancing industry growth by fostering collaborations, joint ventures, and mergers and acquisitions. The event serves as a dynamic platform for companies to exhibit, launch, and showcase their unique strengths, products, and services, driving the growth of the emerging biotechnology industry.

Mr. Shakthi Nagappan, CEO of BioAsia and Director of Telangana Life Sciences, emphasized, “India’s potential to lead in integrated Life Sciences and Technology is monumental, and Telangana will continue to be a dominant player in this space. Active partnership with industry players in initiatives like BioAsia is crucial in positioning Telangana as the most attractive destination for global companies.”

BioAsia’s influence extends globally, with past editions attracting several Nobel Prize winners, Lasker Awardees, and eminent industry leaders. BioAsia 2023 witnessed participation from over 3000 global participants from 50+ countries, setting the stage for an even more impactful BioAsia 2024.

Over the years, the event has immensely benefitted from its participant history including the likes of several Nobel Prize winners, Lasker Awardees and eminent industry leaders like Mr. Bill Gates (Chair, Gates Foundation), Mr. Satya Nadella (CEO of Microsoft), Mr. Alex Gorsky (Executive Chairman, Johnson & Johnson), Dr. Vas Narasimhan (CEO, Novartis), Mr. Geoff Martha (Chairman & CEO, Medtronic), besides hosting the Country Ministers and Delegates from Asia, America, Africa, and Europe. Being the first edition post-pandemic, BioAsia 2023 was extremely successful with the virtual participation of more than 3000 global participants from over 50+ Countries.

Axis Bank’s Burgundy Private and Hurun India release the third edition of the 500 Most Valuable Private Companies in India

Bengaluru, February 13th, 2024: Burgundy Private, Axis Bank’s Private Banking Business, and Hurun India launched the ‘2023 Burgundy Private Hurun India 500’. This is the third edition of the list of the 500 most valuable companies in India. These companies are ranked according to their value, defined as market capitalization for listed companies and valuations for non-listed companies. Hurun India and Burgundy Private launched a further analysis of the most valuable non-state-controlled companies from Karnataka in the 2023 Burgundy Private Hurun India 500 List. The cut-off date to arrive at this list was 30th October 2023. This list refers to companies headquartered in India only; state-owned companies and subsidiaries of foreign as well as Indian companies are not included.

Commenting on the launch, Amitabh Chaudhry, Managing Director and Chief Executive Officer, Axis Bank said:

“Burgundy Private is delighted to partner with Hurun India again, in celebrating India’s 500 most valuable companies. The 3rd edition of the report encapsulates the resilience, dynamism, and competitive spirit ingrained in Indian businesses in a growth-challenged world. Despite headwinds – that of continuing fiscal consolidation, higher domestic interest rates, tightening liquidity conditions, as well as slowing exports; India’s economic growth has been impressive. Indian companies and their leadership deserve great acclamation for their contribution to the country’s unique positioning today. As India heads towards a $5 trillion economy, it will be critical to leverage emerging trends like China plus 1, MSME, and ‘Bharat’ that will act as engines of growth for the country.”

“The companies featuring in the ‘2023 Burgundy Private Hurun India 500’ list have collectively created a value of INR 231 lakh crore for their stakeholders. As India’s leading wealth management franchise, Burgundy Private has closely witnessed this value creation. The India 500 companies have made significant contributions towards nation-building, representing 28% of India’s GDP and employing 1.3% of the country’s workforce. What is noteworthy in the report is that 52 companies on the list are less than a decade old, promising to shape the next decade with their entrepreneurial spirit and digital innovations. The presence of women on the boards of 437 companies is another commendable highlight that underscores commitment towards diversity and inclusivity.”

“At Axis Bank, our commitment to building an institution capable of withstanding the challenges of time remains steadfast. Having successfully concluded the acquisition of Citibank’s India consumer business, the Bank has etched out a unique position for itself in the Indian banking space. The Bank’s wealth management business, which is among the largest in India grew by 78% YOY. Burgundy Private now advises 35 of the Forbes list of 100 richest Indians. Besides, our ability to deliver ‘One Axis’ as a full-service bank, offering varied solutions across all financial services is a key area of distinctiveness. With India entering its most important decade, we look forward to partnering with the companies on the 2023 Burgundy Private Hurun India 500 list, as they move towards the next milestone in their growth journey.”

Anas Rahman Junaid, MD and Chief Researcher, Hurun India said: “Hurun India, in collaboration with Burgundy Private, the Private Banking Business of Axis Bank, proudly announces the release of the 2023 Burgundy Private Hurun India 500 report. This prestigious list includes prominent Karnataka-based companies, featuring innovative startups like Zerodha, Razorpay, Swiggy, CRED, Meesho, and Ola Electric, alongside IT giants such as Infosys, Wipro, and Mindtree. The report not only showcases Karnataka’s vibrant entrepreneurial ecosystem but also highlights Bengaluru’s role as a magnet for investment and a hotbed for high-growth potential. With its world-class startup environment, particularly in fintech, and the highest growth rate in VC/PE investments, Karnataka is making significant strides.”

Methodology

The 2023 Burgundy Private Hurun India 500 is a list of the 500 most valuable companies that are headquartered in India. Government/ State-owned companies and subsidiaries of foreign as well as Indian companies are excluded. Although the cut-off date for the list is 30th October 2023, we have taken an exception for Global Health, Bikaji Foods International, and Five-Star Business Finance for which we have considered the closing market cap of the listing day. The aforementioned companies were in the process of going public/ getting listed during the cut-off date.

Valuing private companies is as much an art as it is a science. Surely, Hurun India may have missed some companies, but we endeavor to develop the most comprehensive report of its kind to identify and acknowledge India’s top businesses. Hurun Report’s team of researchers has traveled the length and breadth of the country, cross-checking information with entrepreneurs, industry experts, journalists, bankers, and other sources of publicly available data.

For unlisted companies, Hurun Research’s valuation is based on a comparison with their listed equivalents using prevailing industry multiples such as Price to Earnings, Price to Sales, EV to sales, and EV to EBITDA. Other methodologies such as Discounted Cash Flow and Tobin’s Q are also used. In certain cases of early-stage companies, Hurun used the First Chicago Method for valuation. Financial information used is from the latest available annual reports or audited financial statements.

Empowering Women in Cybersecurity: Bridging the Gender Gap

On the occasion of the International Day of Women and Girls in Science, it is crucial to address the gender disparity that persists in the cybersecurity sector. While the field has seen significant growth over the years, women continue to be underrepresented, holding only 25% of cybersecurity positions in 2021 according to Cybersecurity Ventures. However, there is hope on the horizon, with the projection that by 2025, women will fill 30% of these positions, increasing to 35% by 2031.

Why Diversity Matters:

Diversity in the workplace is not just a buzzword; it’s a catalyst for success. Here’s why having more women in cybersecurity is not only good for companies but also the industry and society as a whole:

1. Catering to a Diverse World: In today’s digital age, technology products are consumed by people of all genders. By having women actively involved in product development, we ensure that technology caters to the needs of all, effectively addressing the diverse perspectives and preferences of consumers.
2. Inspiring the Next Generation: To bridge the gender gap in STEM careers, we must nurture young girls’ interest in these fields from an early age. When girls see women succeeding in cybersecurity and holding senior positions, it becomes an attainable goal for them. Companies like Check Point Software, with half of its C-level executives being women, set a powerful example.
3. Driving Innovation: Diversity fosters creativity and innovation. In a field as dynamic as cybersecurity, fresh perspectives and problem-solving approaches are essential to stay ahead of cyber adversaries. Studies have shown that gender-diverse teams make better business decisions 73% of the time.
4. Equal Pay for Equal Work: A cornerstone of gender parity in the workforce is ensuring equal pay for equal work. Initiatives like those by ChatGPT, which uphold gender parity in salaries, demonstrate a commitment to fairness and equality. This practice not only enhances the workplace culture but also sets a standard for industries to follow, highlighting the importance of equitable treatment and opportunities for all, regardless of gender.

Check Point Software’s Initiatives:

Check Point Software Technologies Ltd. exemplifies how companies can lead by example in promoting gender diversity and inclusion:

• Secure Academy Program: Through partnerships with universities and educational institutions worldwide, Check Point includes cybersecurity in academic curricula, encouraging a diverse range of students to explore and excel in this critical field.
• Graduate Program: Tailored for new graduates in engineering, sales, and other disciplines, this program offers a bridge into the cybersecurity industry, providing mentorship, hands-on experience, and career development opportunities.
• Check Point Mind: A comprehensive training initiative offering an array of cybersecurity learning opportunities, ensuring professionals can stay abreast of the latest in the field, and fostering a culture of continuous learning and innovation.

These programs collectively demonstrate Check Point Software’s commitment to nurturing talent, promoting gender diversity, and equipping the future workforce with the skills necessary to succeed in cybersecurity. By investing in education and professional development, Check Point not only contributes to closing the gender gap but also strengthens the overall cybersecurity landscape, making it more resilient against threats in an increasingly digital world.

Choosing a Career in Cybersecurity

To close the gender gap in this sector, it’s crucial to encourage more women to pursue careers in technology and cybersecurity.

A career in cybersecurity is not only lucrative but also highly rewarding, marked by constant demand, job satisfaction, and the chance to make a significant impact on the digital security landscape. With initiatives like those by Check Point Software, pathways into the cybersecurity realm become increasingly accessible and attractive, especially for women aiming to break into and excel within the field.

Rupal Hollenback, President of Check Point Software Technologies believes in the importance of inclusivity in the workplace, both for staff and for the business. “Within Check Point Software, our executive team boasts a remarkable balance with half of its members women, performing non-traditional gender stereotypical roles such as Head of Corporate Operations, Chief Product Office, and Chief Technology Officer. Fostering inclusivity isn’t just beneficial for humanity, it’s a strategic advantage for businesses as it translates to enhanced innovation and success, becoming a pivotal driver for sustainable business growth.”

As we mark the International Day of Women and Girls in Science, it’s crucial to recognize the importance of promoting diversity and nurturing talent across all levels of the cybersecurity sector. Through concerted efforts in education, professional development, and advocating for equal pay, organizations like Check Point Software and ChatGPT are pivotal in not only narrowing the gender gap but also in fortifying the cybersecurity domain against the burgeoning threat landscape in our digitally driven world.

As such, closing the gender gap in cybersecurity is not just a matter of equality; it’s an investment in innovation, better decision-making, and a future where everyone’s needs are considered in the world of technology.

World-renowned Prix Galien Award comes to India

New Delhi 13 February 2024– The Galien Foundation, a premier global institution since 1970, heralds a rich legacy of recognizing outstanding achievements that improve the global human condition through innovative drugs and other treatments. Created in honour of Galien (129 CE – c. 216), the father of medical science and modern pharmacology, the Prix Galien Award is regarded as the equivalent of the Nobel Prize in biopharmaceutical research. The first edition of this prestigious award is coming to India in partnership with the GM Modi Science Foundation and will be held on March 3rd, 2024, at the Taj Mahal Hotel in New Delhi.

In the previous year in the USA, the awardee for the best biotechnology product was Bristol Myers Squibb’s Camzyos, with Lilly’s Mounjaro and Novo Nordisk’s Ozempic sharing the honour for the best pharmaceutical product. Boehringer Ingelheim’s Spevigo and CSL/uniQure’s Hemgenix won in the rare/orphan disease category.

Speaking about India’s contributions, Professor Manju SHARMA Committee Chair. Former Secretary to the Govt. of India, Department of Biotechnology. Chair New Initiative, NASI, Allahabad, says, “India has emerged as a significant contributor to global health through the development of innovative treatments, vaccines, and medical technologies. This showcases India’s dedication to making meaningful contributions to the well-being of people worldwide.”

The awards will be fundamental in recognizing and promoting excellence, and through recognition, while enhancing and encouraging a cycle of scientific research excellence and innovation, fostering a culture of innovation that values creative thinking, risk-taking, and the development of solutions that address societal challenges and contribute to economic growth, and showcasing India’s scientific excellence and potential on the international stage.

Talking about the collaboration, Satish Kumar Modi, President of GM Modi Science Foundation and Chairman of Modi Global Enterprises, says, “The collaboration between the GM Modi Science Foundation and the Prix Galien India Awards is a testament to scientific and technological excellence. This will cultivate a culture where achievement is both recognized and revered. In this regard, I would like to express my gratitude to Bruno Cohen for selecting India as the location for the Prix Galien. The Award will significantly benefit the Indian life sciences industry and will also be advantageous for Indian doctors.”

“In the realm of honouring achievements, these awards ensure that our commitment to recognizing greatness resonates with clarity and integrity,” says Padma Bhushan Dr. Manju Sharma, Prix Galien India Awards Committee Chair and Former Secretary to the Govt. of India, Department of Biotechnology.

SAMIL delivered strong quarterly performance, posting revenue of Rs. 25,698 crores

Bengaluru 13th Feb 2024 – Samvardhana Motherson International Limited (SAMIL) [formerly Motherson Sumi Systems Ltd.] today announced its financial results for the third quarter of the fiscal year 2023-24, which ended on 31st December 2023.

Commenting on the results, Mr. Vivek Chaand Sehgal, Chairman, Motherson said,

“These results reflect the good performance of our business divisions. Our team’s unwavering commitment to our core values of customer satisfaction and operational excellence has helped us deliver good results consistently. Reduction in Net Debt is important for us as we continue strengthening our financial position and pursuing strategic growth opportunities. We remain focused on delivering sustainable and profitable growth, creating long-term value for our shareholders, and positively impacting our customers, employees, and communities where we operate.”

Key Highlights

•  Resilient business platform delivering improved performance despite the model mix not going as envisaged by OEMs.
•  The leverage ratio improved to 1.7x from 1.9x; Overall leverage is at a comfortable level.
•  Net Debt reduced by ~Rs 866 crores despite M&A payouts (net of cash/debt) of ~ Rs. 750 crores during Q3.
•  Sufficient liquidity for meeting business requirements and funding of announced acquisitions.
•  Approx. 50% of the Rs. 1,800 crores growth capex has already been invested to support growth in emerging markets.
•  Measures taken to normalise the working capital situation have started to yield positive results.

Samvardhana Motherson International Limited (SAMIL) [Formerly Motherson Sumi Systems Ltd.]
Samvardhana Motherson International Limited (SAMIL) is one of the world’s leading specialised automotive component manufacturing companies for OEMs. The company, formerly known as Motherson Sumi Systems Limited, was established in 1986 as a joint venture with Sumitomo Wiring Systems and was listed in 1993 on BSE and NSE in India. The company is focused, dynamic, and progressive, providing customers with innovative and value-added products, services, and solutions. With a diverse global customer base of nearly all leading automobile manufacturers globally, the company supports its customers from more than 350 facilities across 42 countries in five continents. The company has diversified to support customers in non-automotive businesses, including technology and industrial solutions, health & medical, aerospace, and logistics. SAMIL is currently the largest auto ancillary in India and is ranked among the top 25 automotive suppliers worldwide.