In a sign of consumer spending having normalized — at least for small ticket items, Relaxo Footwears posted results for October-December that were even better than those of the same period in 2019. Revenue rose 12%, or Rs 72 cr, on year to Rs 672 cr, while net profit was up Rs 44 cr, or […]
After several quarters, Polycab India Ltd reported a set of financial results that were decidedly less rosy than those of its primary rival Havells India Ltd. Two days after Havells reported a 39% year-on-year jump in revenue to Rs 3,175 cr, Polycab said its third-quarter revenue rose 12% on year to Rs 2,799 cr. While […]
Electrical goods maker Havells India Ltd reported its best ever quarter after pent up demand lifted the company’s sales and profits to unprecedented levels in October-December 2020. The company’s third-quarter revenue jumped nearly 40% year-on-year, breaking the Rs 3,000 cr mark for the first time in its history. Similarly, pretax profits zoomed 101% to Rs […]
BEML Ltd, formerly Bharat Earth Movers, said it received an order worth Rs 758 cr to supply ‘high mobility’ vehicles to the ministry of defence, Government of India. The vehicles would take the shape of armoured fighting vehicles, and trucks for moving troops, ammunition and stores to far-flung, difficult terrains in operational areas, the equipment […]
Following automakers like Honda, Mahindra & Mahindra, Bajaj Auto, Maruti Suzuki, Kia Motors, MG Motor and Renaut, Tata Motors too has announced a decision to increase vehicle prices from next month. However, unlike most others, Tata Motors will increase prices for commercial vehicles only, while leaving passenger vehicles alone for now. Around half of the […]
Thanks to the rapid roll-out of fiber broadband services by partner Reliance Jio, telecom player HFCL Ltd has started producing residential broadband-oriented fiber cables at a new facility in Hyderabad. HFCL’s new optical fiber plant in Hyderabad came online in January this year, and on Wednesday, the plant started making smaller size optical cable that […]
Hindalco Industries Limited, the Aditya Birla Group metals flagship, said it intends to set up a 34,000-tonne aluminium extrusion plant at Silvassa, the capital of Dadra & Nagar Haveli, at a cost of Rs 730 cr. The new plant will service the fast-growing market for extruded aluminium products in the western and southern regions, particularly […]
Titan Co, which had seen a sharp fall in its revenue and profit in the aftermath of the COVID-19 lock-down, today reported a 15% increase in festival sales of jewelry items. This continues a theme of recovery seen in the last few months. For example, during the three months from July-September, the company had managed […]
Mahindra & Mahindra, one of India’s largest automobile and tractor makers, announced the production plans for a new series of advanced tractors being made with the help of its joint venture with the Mitsubishi Group of Japan. While the collaboration was announced earlier, it today unveiled further details about the production roadmap, as well as […]
V-Mart, India’s largest chain of smaller-sized fashion stores, said it has started purchasing fresh stock from its suppliers after nearly six months of freeze on garment procurement. The company was hit hard when a nationwide lockdown was imposed by the central government in late March to control the spread of COVID-19, particularly as it had […]
Taiwan-based contract manufacturer Wistron Infocomm has started carrying out a significant expansion of its existing facility in Kolar near Bangalore as Apple Inc continues to source more assembled-in-India iPhones. The information was revealed in a regulatory filing related to an order win by air conditioning equipment provider Blue Star today. “Wistron is a Taiwan based […]
Titan Company, India’s largest jewelry retailer and a part of the Tata Group, said second quarter revenue from its mainstay jewelry division was almost at the same level as what was seen in the same quarter last year, while its eyewear and watches division continued to suffer from the impact of the pandemic. The jewelry […]
Cochin Shipyard Limited, India’s largest shipbuilder, has signed a partnership agreement with Fincantieri, one of the world’s largest shipbuilders. Besides ship-building, the two will co-operate in the areas of ship design, repair, marine equipment manufacturing and training & skill development, the Kochi-based company said today. Italy-based Fincantieri has over 230 years of history and more […]
Arvind Ltd, one of India’s biggest textile and garment manufactures, said its business revenue was down about 37% in August compared to the previous year due to the impact of the Coronavirus lockdown and it expects domestic market to remain subdued till early 2021. Revenue in August was at Rs 414 cr in August, compared […]
Coromandel International Limited, which makes the famous GROMOR brand of fertilizers, reported strong financial performance for the Apr-Jun quarter, indicating that farming activity in South India continued apace even during the COVID-19 lockdown. The company reported a whopping 51% jump in its revenue for the Apr-Jun quarter compared to the same three months of 2019. […]
Asian Paints, the country’s largest paints manufacturer, reported a 43% fall in its revenue for the Apr-Jun quarter due to a sharp deterioration in demand caused by the COVID-19 pandemic. Against the Rs 2,208 cr fall in revenue (compared to the same three months of 2019), the company’s total non-tax expenses fell by Rs 1,515 […]
Hindustan Unilever, the biggest advertiser in India, protected its profit margins during the Apr-Jun period by slashing its advertising budget by about 32%. Given that this is after merging GSK’s consumer healthcare business with itself, the actual decline in advertising is likely to have been in the 35% range. Even after adding GSK CH numbers, […]
Dixon Technologies, the NOIDA-based contract manufacturer of electronics, said it has entered into a contract with Bangalore-based Molbio Diagnostics to manufacture a disruptive RT-PCR COVID-19 test that can give a major boost to India’s Coronavirus containment efforts. It has entered into a Rs 30 cr deal to manufacture 1,000 Qattros, a viral testing machine that […]
The Uttar Pradesh government has completed the task of bringing back stranded and jobless migrant workers from various places like Mumbai, Delhi and Gujarat, chief minister Yogi Adityanath said today. “The whole country is grateful [for the way in which] decisions were taken by the Prime Minister during the global pandemic, and for the systematic […]
ABB India, the local unit of the Swiss-Swedish machinery and equipment maker, said it does not “anticipate any significant adjustments” due to the impact of the COVID-19 pandemic and the subsequent lock down. “The Company has evaluated the liquidity position, recoverability, carrying value of its assets and does not anticipate any significant adjustments at this stage […]
