All posts by Neel Achary

DOMS Acquires 51 Percentage Stake in Super Treads to Expand Stationery Segment

Mumbai, May 20, 2025: DOMS Industries Limited , at its board meeting held on Monday, May 19, 2025 have approved the acquisition of 51.00% stake in Super Treads Private Limited (“STPL”) for a maximum consideration of ₹ 6.12 crores, subject to the completion of due diligence and receipt of requisite approvals, if any. The equity stake shall be acquired through secondary purchase from the existing shareholders of STPL.

Through this acquisition, DOMS shall broaden its presence in the paper stationery segment and will allow it to efficiently reach out to its consumer base in eastern India. STPL, with its operating history of more than two decades, currently operates primarily as an OEM supplier for the manufacturing of notebooks and other paper stationery products.

Commenting on the acquisition, Mr. Santosh Raveshia, Managing Director, DOMS Industries Limited said: “Our proposed acquisition of majority stake in STPL is a key step in enhancing our manufacturing capacities and geographically diversifying our paper stationery infrastructure to efficiently reach our consumers, thus further strengthening our competitiveness in this segment. This investment aligns with our vision of leveraging our growing brand reputation and well entrenched distribution network to deliver our unique and differentiated range of products at most competitive prices. With Rakesh Maheshwari and his team, we have got this wonderful opportunity to partner with great technocrats, like-minded entrepreneur who has a great zeal to offer something unique to the market. We are confident that this partnership would lead to significant long term growth and value creation for all of us.”

Commenting on the acquisition, Mr. Rakesh Kumar Maheshwari, Promoter Director, Super Treads Private Limited said: “This partnership represents a strategic milestone for our company, combining our manufacturing expertise with DOMS national distribution capabilities and established brand. This collaboration will be instrumental in realizing our full potential and enable us to explore opportunities, thereby unlock new avenues for growth and innovation. In DOMS, we have found a perfect strategic partner to help us pursue a brand lead business journey.”

By joining forces, DOMS and STPL are poised to leverage their mutual strengths to amplify their capabilities to capitalise on the potential for growth, innovation, and long-term success. With the completion of acquisition of a 51% stake, Super Treads Private Limited (STPL) will become a part of the DOMS Group of companies, which also includes Pioneer Stationery Private Limited, Micro Wood Private Limited, Skido Industries Private Limited, Uniclan Healthcare Private Limited and our associate company, Clapjoy Innovations Private Limited – further strengthening our diversified presence across consumer products spanning stationery, art material, and hygiene categories.

Marathon Capital Advisory Private Limited, acted as the Advisor to DOMS for this proposed strategic acquisition.

Palomar Health Foundation Receives Nearly $50 Million in Award to Support the Development of the 120-Bed Palomar Health Behavioral Health Institute

Ice Make FY25 Revenue Hits INR 480 Cr with 64% Q4 Surge

Mumbai/Ahmedabad, May 19, 2025: Ice Make Refrigeration Limited , a leading manufacturer of 50 plus commercial and industrial refrigeration equipment, has reported strong financial results for the fourth quarter and full year ended March 31, 2025.

Financial Highlights

For the quarter ended March 31, 2025 (Q4 FY25), the company reported consolidated revenue from operations of ₹180.82 crore, marking a robust 26.76% year-on-year increase from ₹140.14 crore in Q4 FY24. This is a 29.02% quarter on-quarter sequential growth.  EBITDA for the quarter stood at ₹21.85 crore, compared to ₹20.93 crore in the same period last year.

However, EBITDA margin softened to 12.08% from 14.93% on account of higher input costs. Profit after tax (PAT) for the quarter was ₹11.66 crore, down from ₹14.27 crore in Q4 FY24, while earnings per share (EPS) stood at ₹7.42 versus ₹9.06 in the previous year’s corresponding quarter.

For the full financial year ended March 31, 2025 (FY25), Ice Make achieved consolidated revenue from operations of ₹480.42 crore, an increase of 26.76% year-on-year compared to ₹379.00 crore in FY24. The company reported EBITDA of ₹43.44 crore in FY25, up from ₹41.39 crore in FY24, although the EBITDA margin slightly declined to 09.04% from 10.92%. The full-year PAT stood at ₹22.90 crore as against ₹26.14 crore in FY24, with a corresponding EPS of ₹14.65 compared to ₹16.64 a year earlier.

The Board of Directors has recommended a final dividend of ₹2.25 per equity share (22.5% of face value ₹10), subject to shareholder approval at the upcoming AGM.

Management Commentary

“We are pleased to report a strong close to the year, with a 64% sequential revenue growth in Q4 FY25, demonstrating the strength of our underlying business and recovery in order execution. While we delivered robust revenue growth during FY2025, reaching nearly ₹480 crore, we narrowly missed our internal milestone of ₹500 crore due to delayed execution of certain product order in the 1^st 9 months of FY25. These delays, along with the timing mismatch of input costs already accounted for, impacted full-year profitability. Despite these headwinds, our operations remained resilient, supported by our strategic investments in innovation, capacity expansion, and a customer-centric approach. We also saw continued momentum in our commercial and industrial refrigeration verticals, including ammonia refrigeration and cold chain solutions. The Board’s recommendation of a final dividend reflects our unwavering commitment to long-term shareholder value and sustainable growth.”— Mr. Chandrakant Patel, Chairman & Managing Director

Q1 2025 Real Estate Sentiment Index Shows Cautious Outlook: Knight Frank-NAREDCO

Mumbai, May 19, 2025: The 44th edition of the Knight Frank – NAREDCO Real Estate Sentiment Index Q1 2025 (January–March 2025) report reflects a cautiously optimistic mood among real estate stakeholders. The Current Sentiment Score in Q1 2025 dipped slightly to 54 from 59 in Q4 2024, down from 59 in Q4 2024, while the Future Sentiment Score eased to 56, compared to 59 in the previous quarter. Though both scores, remain in the optimistic zone, signal growing stakeholder caution amid global trade tensions, economic recalibration, and regional volatility. Despite this, positive momentum in commercial real estate and sustained activity in high-value residential segments continue to support sentiment resilience. According to the survey findings, residential outlook leans toward stability amid cautious launch plans. In Q1 2025, 93% of stakeholders expect residential prices to remain stable or improve, while 67% anticipate stability or growth in new launches. Residential sales sentiment, however, has moderated with only 50% expecting it to either improve or stay the same compared to 88% in Q1 2024.

The office segment remains a bright spot, supported by robust leasing activity and stable rental growth. In Q1 2025, 82% of stakeholders anticipate office leasing volumes to either hold steady or increase, while 91% expect office rents to remain stable or rise—signalling sustained occupier confidence and healthy demand.

The quarterly Knight Frank-NAREDCO Real Estate Sentiment Index report captures the current and future sentiments towards the real estate sector, as well as economic conditions and funding availability as perceived by the supply-side stakeholders and financial institutions. A score of 50 represents a neutral view or status quo; a score above 50 demonstrates a positive sentiment; and a score below 50 indicates a negative sentiment.

Sentiments of Developers and Non-Developers

The Developer Future Sentiment Score dropped to 53 in Q1 2025 from 58 in Q4 2024, as developers recalibrate supply strategies amid slowing low to mid ticket size segment demand in the residential sector and rising costs.

The Non-Developer Future Sentiment Score (including banks, financial institutions, and PE funds) moderated to 57 from 60, reflecting a wait-and-watch approach on capital deployment, while remaining optimistic on office and high-ticket size residential segments.

Shishir Baijal, Chairman and Managing Director, Knight Frank India, said, “Q1 2025 marks a phase of strategic recalibration for the real estate sector, shaped by evolving global trade dynamics, softening consumption, and heightened geopolitical sensitivity. Despite these shifts, India’s office market remains resilient, and the continued strength of the premium residential segment affirms the sector’s underlying robustness. As macroeconomic indicators adjust, real estate is displaying its capacity to adapt with stability and long-term potential.”

“Residential market outlook

The residential sentiment in Q1 2025 reflected a clear shift toward stability and cautious optimism. While overall enthusiasm has moderated compared to the highs of 2023 and early 2024, the market continues to show resilience, particularly in higher ticket size segments. Only 22% of stakeholders expect residential sales to increase, marking a notable decline from 73% in the same period in last year. This softening is driven by moderation in demand within the mid and lower ticket-size segments, where affordability concerns and truncated supply led to demand deceleration.

Launch activity has also moderated, with 28% of stakeholders anticipating an increase and 39% expecting stability. Price sentiment remains largely positive, with 93% of stakeholders expect prices to either rise or stay stable. The share of those anticipating a price increase stands at 50%, compared to 82% in Q1 2024, suggesting a shift away from aggressive price growth toward a more measured and sustainable pricing environment.

Hari Babu, President-NAREDCO, said, “While the Knight Frank Q1 2025 Sentiment Index shows a marginal decline in both current and future sentiment scores compared to Q4, this slight dip amidst global uncertainties reflects the strength and adaptability of India’s real estate sector. The industry continues to move forward with optimism and long-term conviction.

The Indian real estate sector is showcasing robust performance in the commercial segment, driven by the demand from Global Capability Centres (GCCs) and tech-enabled enterprises — reaffirming India’s growing stature as a global business hub. On the residential front, developers are adopting a more mature, demand-led approach by focusing on high-ticket projects while rebalancing supply in the mid and affordable segments.

This is a sign of steady evolution. We see this as a phase of mindful progress, where Indian real estate is not just expanding, but doing so with greater purpose and prudence. Government-led infrastructure development and the expansion of real estate in Tier 2 and 3 cities will continue to support the sector. Additionally, the recent repo rate cut by the RBI has boosted liquidity and improved buyer sentiment, giving further momentum to the industry. We remain confident in the sector’s potential and its pivotal role in India’s economic journey.”

Office market outlook

The office sector continued to display strength in Q1 2025, backed by robust occupier demand and rental resilience. 82% of stakeholders expect leasing activity to either increase or remain stable, driven by sustained expansion from Global Capability Centres, third party IT services firms, and flex space operators. While only 24% foresee an increase in new office supply, 41% anticipate stability, reflecting developers’ calibrated approach amid high office space absorption. Rents remain on a firm footing, with 91% of respondents expecting them to stay stable or rise.

In Q1 2025, 55% of stakeholders expect economic momentum to either improve or remain stable, down from 91% in the same period in last year. The moderation reflects concerns over global trade volatility, and recent cross-border developments. However, the Reserve Bank of India’s consecutive repo rate cuts in February and April are expected to support consumption and investment, providing a foundation for economic recovery in the months ahead.

Funding sentiment remains steady, with 79% of stakeholders expecting availability to either improve or remain unchanged. While 35% foresee improved access, slightly lower than the previous quarter, the recent rate cuts have enhanced liquidity and reduced borrowing costs.

Custom vs. Generic Gifts: Why Personalization Matters More Than Ever

By – Mr. Karan Sehdev, Founder of Merch Matters

In today’s business landscape, where every interaction is a chance to build stronger relationships, gifting has become more than a formality—it’s a strategy. But not all gifts are created equal.

The choice between custom and generic gifting can make or break how your brand is remembered. While generic gifts may check the box, custom gifts create lasting impressions, emotional value, and real ROI.

Here’s why personalization matters now more than ever.

The Generic Gift: Easy but Forgettable

Generic gifts are often mass-produced, one-size-fits-all items like:

1. Branded pens
2. Standard mugs
3. Generic gift cards
4. Uninspired promotional items
They’re convenient, quick to source, and usually affordable—but that’s where the advantages end.

The problem?

These gifts don’t feel thoughtful. They don’t build connection. And most importantly, they’re forgettable.

The Power of Custom Gifting

Custom gifting, on the other hand, transforms a simple transaction into a personal experience. Whether it’s adding the recipient’s name, tailoring the gift to their preferences, or aligning it with company values, personalized gifts say: “We see you. We value you.”

That message resonates with employees, clients, and partners alike—and leads to stronger engagement.

Why Personalization Matters More Than Ever

1. Stronger Emotional Impact
People are far more likely to remember a gift that reflects their personality, interests, or needs. Personalization builds emotional loyalty—the kind that drives long-term relationships.

2. Better Brand Alignment
Custom gifts reflect your company’s culture and values. Whether you emphasize sustainability, innovation, or creativity, your gifts can reinforce your brand message in a tangible, memorable way.

3. Increased Engagement
Recipients are more likely to use, share, or talk about a gift that feels unique to them. This extends your brand’s reach through word-of-mouth and social sharing.

4. Data-Driven Relevance
With access to more customer and employee data than ever before, companies can easily tailor gifts to individual preferences, making each experience feel curated and relevant.

5. Competitive Differentiation
Everyone gives gifts, but not everyone makes them meaningful. Personalized gifting sets your brand apart, especially in crowded industries where thoughtful details go a long way.

Real-World Applications

● Client Gifting: Instead of a standard holiday basket, send a curated box featuring local products from the client’s city, or branded items in their company colors.

● Employee Recognition: Celebrate milestones with custom trophies, monogrammed apparel, or personalized desk items.

● Event Giveaways: Swap basic swag for customized kits with attendees’ names, roles, or social handles printed inside.

Generic gifts fulfill a requirement. Custom gifts build a relationship.

In an era where personalization drives everything—from marketing to customer service- your gifting strategy should be no different. The more thoughtful, relevant, and tailored your gifts are, the more they will be remembered, appreciated, and talked about.

So next time you’re planning a gifting campaign, skip the “standard.” Go custom—and make it personal.