Category: Uncategorized

Myntra’s one-year partnership with LENZING™ ECOVERO™ is marked with ~60% adoption of eco fiber in its in-house brands

Bengaluru, March 16, 2022: Myntra and leading global sustainable fiber brand LENZING™ ECOVERO™ have successfully collaborated for a year. As a step in Myntra’s commitment to source sustainably, this partnership has enabled Myntra’s in-house fashion brands to offer viscose apparels made largely of LENZING™ ECOVERO™ branded specialty viscose fiber, an environmentally responsible viscose that is  certified with the EU Ecolabel and produced using an eco-responsible process. Some of the brands that have adopted a mix of LENZING™ ECOVERO™ fiber in their apparel include DressBerry, Roadster Life & Co., Sangria, Anouk, Sztori, Ether and Mast & Harbour.

Enabled by this partnership and in line with Myntra’s commitment to source sustainably, over the last year, Myntra has registered a 20% growth in the use of sustainable viscose fibers in its women’s wear, western wear and ethnic wear categories. This is a step towards the use of fiber sources that reduce environmental and social impacts. The products which were earlier made of standard viscose are now using ~60% LENZING™ ECOVERO™ viscose fiber on account of the partnership, thereby resulting in the reduction in carbon footprint by 670 tonnes and water consumption by 4.2 mn liters in the last one year. Myntra has also witnessed a 25% increase in the number of units of products that are made using LENZING™ ECOVERO™ fiber since the beginning of this partnership last year.

In order to accelerate the adoption of sustainable material by brands, Myntra is also building awareness with its in-house brands and sourcing teams on sustainable viscose yarns. This enables Myntra to tread further in its commitment towards the environment, while adding to the Flipkart Group’s commitment, as a part of its partnership with Canopy, to purchase man-made cellulosic products that include a minimum of 50% of innovative fibre sources as well as to Lenzing’s vision of net zero carbon emissions by 2050.

Speaking on the partnership, Manohar Kamath, CXO and Chief – Myntra Fashion Brands, Myntra, said, “As an enterprise that is committed to a sustainable future, we are happy to have collaborated for a year with Lenzing, which has augmented our efforts in the direction of sustainable sourcing practices. This shift has shown a positive growth towards sustainable living and as a brand, we aim to propel our commitment and efforts with such partnerships, powered by a growing base of conscious consumers.”

Speaking about the association, S. Jayaraman, Senior Commercial Director, Lenzing Fibers AMEA & NEA, said, “Lenzing group has been known for offering innovative, eco-friendly solutions to the textile industry. The one year of our partnership with Myntra is an inspiring testimony for the Indian market in transitioning to responsible fashion. The success here highlights the potential for eco-friendly ingredients like  LENZING™ ECOVERO™ fibers and how they can be made accessible for the local consumers. The growth of this partnership has opened doors to making responsible fashion more mainstream.”

Tailored to a sustainable lifestyle, this specialty viscose fiber from LENZING™ ECOVERO™ has been certified with the EU Ecolabel, which is awarded to products and services meeting stringent sustainability requirements throughout their life cycle.

Myntra’s sustainability journey has been marked by an orchestrated effort to create a positive environmental impact. Investments in packaging supply chain to be 100% plastic-free and solar power utilisation are among areas where Myntra has made significant in-roads in its commitment towards building a greener enterprise. The other key initiatives on this path by Myntra include partnering with Canopy, a not-for-profit environmental organization, to ensure that the packaging used does not encourage deforestation, by scaling packaging from recycled and alternative materials, as well as partnering with the Better Cotton Initiative towards sustainable sourcing. In addition, through ‘Myntra For Earth’, a dedicated store offering conscious collection on the Myntra app, the company offers thousands of styles from over 90 brands to provide ethically and consciously made fashion, lifestyle and beauty products to customers looking for eco-friendly choices. The association with Lenzing is yet another important milestone in this journey.

A Spike In Kidney Stone Cases During Summer

Mumbai: Kidney stones are solid, formations made of mineral and acid salt that may travel into the ureter (a tube connecting the kidney and bladder), causing loin pain and groin discomfort. There is a rise in kidney stone cases when the weather warms up. Take timely treatment before the pain worsens, or kidney damage occurs. ‘

Summer can not only lead to skin or tummy troubles but even kidney stones. Summer heat creates havoc on the kidneys. During the warm weather, people lose a lot of fluid via sweat and get dehydrated. If this fluid loss is not tackled by adequate hydration, the kidneys tend to make concentrated urine to conserve body water. Moreover, this concentrated urine can lead to the formation of kidney stones. “Rising temperature also raises the risk of kidney stones. Buildup of calcium and uric acid in the urine can also lead to the formation of kidney stones which are small or big in size.

Dr Nasreen gite,urologist at Apollo spectra Mumbai said, “One with kidney stones will exhibit symptoms such as pain and burning sensation while urinating, blood in urine, nausea, vomiting, abdominal and back pain, frequent urination, and fever. Some stones tend to pass on their own without any treatment while others need to be addressed promptly. Shock wave lithotripsy can be done wherein shock waves break up the kidney stones into small pieces that later pass through your urinary tract and out of the body through the urine. A ureteroscopy can be opted for as well. Here a long tube-like tool is inserted into the ureter to take out the small stone, break it into small pieces (using a laser in case the stone is bid in size) to allow it to pass via urine. Percutaneous Nephrolithotomy (PCNL) procedure is needed for large and complex stones.” 

Exercise daily, avoid colas, salty and processed foods that can lead to stone formation, empty the bladder regularly, drink enough water, maintain optimum weight and eat fresh fruits and vegetables to prevent kidney stones.

MTAR Technologies reports a PAT of 13.3 Cr with 50.5% YoY increase

Hyderabad, February 2022: MTAR Technologies Ltd (“MTAR”), a leading precision engineering solutions company engaged in manufacturing and development of mission critical precision components with close tolerances and critical assemblies catering to nuclear, space, defense and clean energy sectors has announced its financial results for the third quarter ended on 31th December, 2021.

YoY Q3 FY 22 Vs Q3 FY 21

· Revenue from Operations stood at Rs. 78.1 crore as against Rs. 55.2 crore in Q3FY21, 41.4 % increase YoY

· EBITDA reported at Rs 22.8 crore in Q3 FY 22 as compared to Rs. 17.5 crore in Q3FY21, 30.3% increase YoY

· Profit Before Tax stands at Rs 18.7 crore as against Rs. 12.4 crore in Q3FY21, 50.9% increase YoY

· Profit After Tax reported was at Rs. 13.3 crore as against Rs. 8.8 crore in Q3FY21, 50.5% increase YoY

· Diluted EPS stands at Rs. 4.3 per share for Q3 FY 22 as against Rs. 3.3 per share for Q3 FY 21

YTD FY 22 Vs YTD FY 21

· Revenue from Operations for YTD FY 22 stood at Rs. 223.4 crore as against Rs. 177.3 crore for YTD FY 21, 26.0% increase YTD YoY

· EBITDA for YTD FY 22 reported at Rs 66.7 crore as compared to Rs. 53.0 crore for YTD FY21, 25.8% increase YTD YoY

· Profit Before Tax for YTD FY 22 stands at Rs 58.4 crore as against in 39.6 for YTD FY 21, 47.5% increase YTD YoY

· Profit After Tax for YTD FY 22 was at Rs. 41.1 crore as against Rs. 28.1 crore for YTD FY 21, 46.3% increase YoY

· Diluted EPS for YTD FY 22 stands at Rs. 13.4 per share as against Rs. 10.5 per share for YTD FY 21

Operational Highlights

· Revenue from Exports increased by Rs. 31.0 crores in Q3 FY 22 in comparison with Q3 FY 21, an increase of 151.1%. YTD FY 22 Revenue from Exports increased by Rs. 51.4 Cr in comparison with YTD FY 21, an increase of 61.4%

· Order book as on 7 Feb 2022 stands at Rs. 599.6 crores as per our expectations

· Received new orders for roller screws and electro-mechanical actuators; products that are currently under development

· Declared interim dividend of Rs. 3/- per share

· Received an upgrade in credit ratings from A- (Positive) to A (Stable) from ICRA

Commenting on the results, Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “MTAR has clocked a revenue of Rs. 78.1 crores with an YoY growth of 41.4%. We have posted an EBITDA of Rs. 22.8 crores with YoY growth of 30.3% and a net profit of Rs. 13.3 crores with YoY growth of 50.5%. Domestic order inflows from Civil Nuclear Power, Space & defence sectors are expected to be fast-tracked over the coming quarters. Union budget 2022 aligns with Government’s commitment to promote Atmanirbhar Bharat initiative and indigenisation, which positions Indian manufacturing sector to grow at a rapid pace. Amidst a conducive macro-economic environment backed by a robust order book, we are confident of witnessing an accelerated growth over the coming quarters.”

Child Eye Care Tips: What Doctors Suggest

– Dr. Ritika Sachdev, Additional Director at Center For Sight 

Eye problems in children are common and need special attention. This is because the child is still in its developing years and anything that interferes with this development can lead to permanent defects and long-term problems. Some problems, if not tackled on time, can even lead to a complete vision loss in a few cases. This is why child eye care is important.

Through this article, we will have a brief look at some of the common eye problems in children and focus on some child eye care tips that may prove beneficial for your child’s eye health.

Common Eye Problems in Children and Their Causes 

The most common problems that affect the children’s eyes are Refractive Errors including Nearsightedness and Farsightedness, Strabismus (aka Squint), Lazy eye (aka Amblyopia), Developmental Abnormalities, Childhood Glaucoma, Cataract and many more.

These problems can be caused by a variety of reasons including developmental insults, delay in recognizing need for spectacles, weak ocular muscles, damage to the optic nerve etc. Knowing and understanding the causes which can lead to child eyesight deterioration is important to maintain your child’s eye health.

Tips for Child Eye Care  

Child eye care should be an important component of the child’s health needs. This is because any eye problems that are left untreated or not treated on time can permanently hamper your child’s vision. So, to help you take good care of your child’s eyes, here are a few tips for child eye care:

1. Take your child for regular eye checkups  

Many problems in a child’s eye are silent and may be uncovered only on examination by an eye specialist who has specialized in problems of children’s eyes (a Pediatric Ophthalmologist). Therefore, having scheduled appointments with a Pediatric ophthalmologist is necessary during your child’s growing years. These checkups help to recognize any eye related problems early and address them timely. Protect your child’s eyes from dust and sun damage

The UV rays from the sun and the dust particles in the air can have many harmful effects on your child’s eyes. Hence, it becomes important to protect them by using hats or sunglasses.

2. Focus on your child’s diet

Attention to the diet of a growing child is important as it affects functioning of all organs including the eyes. Make sure to consult your pediatrician and add food items which are rich in Vitamin -A. These foods include green leafy vegetables, milk and milk products, fish and all fruits and vegetables that are yellow and orange in color (like Carrot, Papaya, Mango, Sweet Potato etc).

3. Do not ignore any warning signals 

Vision and eye-related complaints of a child should not be ignored. Make sure you take the following warning signs seriously-

– Your child squints or tilts head to one side to see better

-He/she is holding a book too close while reading

-Your infants eyes are not aligned

-Your child complains about blurry vision or pain in the eyes