Innholdsfortegnelse for 25 June 2023 i Business Today

In the slog overs of a hard-fought T20 cricket match, batters wanting to take the team to victory often step out of the crease aiming to score a big six. Two things can happen when the batter does this: either he connects well and gets that six, or in the process of hitting the shot is caught at the boundary or stumped by the wicketkeeper. It’s a gamble. Something similar is playing out in the business of cricket in India. Massive amounts of money are being pumped into what has become the country’s favourite sport, with team owners, media firms and advertisers all keen to get a share of the lucrative pie as viewers—both on television and digital—remain hooked to their screens to watch the game in its various formats.…

RISE AND FALL AFTER SPIKING IN FY22, THE VALUE OF PLEDGED OR ENCUMBERED SHARES BY PROMOTERS SLID 16 PER CENT IN FY23 *At the end of the respective financial year on the NSE Source: ACE Equity GROWING PLEDGES OVER THE PAST FEW YEARS, THE TOP 50 COMPANIES BY MARKET CAP (AS ON MARCH 31 EACH YEAR) WITNESSED A SIGNIFICANT SURGE IN THE VALUE OF PLEDGED OR ENCUMBERED SHARES Bars indicate the values of pledged/encumbered shares at the end of the respective financial year on the NSE Source: ACE Equity LOW ON CONFIDENCE NEARLY 12 PER CENT OF COMPANIES THAT GOT LISTED SINCE FY18 HAVE PLEDGED OR ENCUMBERED SOME OF THEIR SHARES Top 10 newly listed firms with highest pledges; bars indicate share of promoter holding that is pledged/encumbered; data as…

▶ A GURUGRAM-BASED start-up recently found out just how much things have changed with the onset of the funding winter. The firm is looking to raise funds, but it was stumped by a request from potential investors: Hire a chief financial officer (CFO). “We are looking for a CFO who has previous experience in fundraising,” the founder tells Business Today on the condition of anonymity. Another start-up, this one based in Chandigarh, has been on the hunt for a CFO for three months, but for a different reason. “With the funding winter setting in, we want to keep track of our finances. Earlier, we were able to manage with a part-time CFO. But now, keeping track of every penny is important,” says the founder of the company. NOT FOCUSSING ON…

In recent years, sustainability has emerged as a powerful and influential trend in office spaces. With growing awareness of environmental concerns and a collective desire to combat climate change, businesses and organizations are increasingly prioritizing sustainability in their operations. This shift represents a significant departure from the traditional notion of office spaces solely as functional areas for work into dynamic ecosystems that integrate environmental responsibility, energy efficiency, and employee wellness. Nucleus Office Parks (NOP) stands as a shining beacon of sustainable operation and creating value for its stakeholders. NOP’s proactive asset management concept is to produce ‘buildings of choice’. As part of their efforts, NOP has achieved various accolades, including the largest WELL at scale enterprise account, the first developer-owned project to achieve a LEED Zero certification for its asset…

FOUNDED November 2005 as GoAir INTERIM RESOLUTION PROFESSIONAL (IRP) Abhilash Lal BANKS’ EXPOSURE ₹6,521 crore* DEFAULTS TO OPERATIONAL CREDITORS ₹3,862 crore (Vendors ₹1,202 crore+ Lessors ₹2,660 crore) FLEET SIZE 59 (54 Airbus A320neo and 5 Airbus A320ceo) GROUNDED AIRCRAFT 25 Airbus A320neo PASSENGER LOAD FACTOR 91.2% MARKET SHARE 6.4% ON-TIME PERFORMANCE 41.7% NO. OF EMPLOYEES 7,000+ *Central Bank of India, Bank of Baroda, Axis Bank, IDBI Bank, Deutsche Bank Data till April 2023 Source DGCA, company, BT ResearchI…

Over the past few decades, most urban Indian families have been touched by the Godrej brand. From locks and safes to consumer products, electronics and real estate, the group has diversified into various businesses over the years. Helming the flagship company of the 125-year-old group is Jamshyd N. Godrej, Chairman & MD of Godrej & Boyce. In a freewheeling interview with Business Today’s Global Business Editor Udayan Mukherjee, Godrej explains what it will take to boost manufacturing in India, the synergy between his B2B and B2C businesses and the road ahead. Edited excerpts: Q: You know, I spent most of my career looking at the stock market. And I would often wonder why your companies were privately held. Why was Godrej & Boyce not listed on the bourses? You have such iconic…

ENVIRONMENTAL ● The Mithapur plant of Tata Chemicals is water neutral; the plant charges treated water back into the ground ● Sutlej Textiles and Industries uses post-consumer recycled polyester in drapery and upholstery, leading to less consumption of water and energy SOCIAL ● P&G offers eight weeks of paternity leave, health and financial benefits to LGBTQ+ employees ● Crompton Greaves Consumer Electricals is upskilling its plumbing workforce GOVERNANCE ● Godrej Consumer Products has an internal ESG committee that helps informs and guide the company’s long-term ESG strategy…

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1 Although aviation currently accounts for just over 2 per cent of global CO2 emissions, the industry is expanding faster than road, rail or shipping 2 Global aviation body IATA’s members have committed to achieving net zero by 2050 3 The number of airlines operating flights using jet fuel blended with sustainable aviation fuel (SAF) is increasing annually 4 Other green initiatives include highly fuel-efficient engines, taxibots to tow aircraft to takeoff point, minimising use of single-use plastics, reducing food waste and carbon-mapping airports…

1 India plans to develop the Indian Carbon Market (ICM), with an objective to decarbonise the Indian economy by pricing GHG emissions through trading of carbon credit certificates 2 The ICM is being created in compliance with Article 6.2 of the Paris Agreement 3 The Bureau of Energy Efficiency, under the power ministry, along with the Ministry of Environment, Forest and Climate Change is working to develop a Carbon Credit Trading Scheme that is expected to be notified in June 2023 4 Carbon Credit Certificates under the CCTS are expected to be available for trading by 2025…

The Six Decades old Mysore Sales International Ltd., (MSIL) is a premier Govt. of Karnataka Undertaking, is involved in marketing a diverse range of products & services. The company’s operations span across a diverse verticals that encompass Retail Liquor, Chit Funds, Paper & Stationery, Industrial Products {Solar), Consumer Products, Tours & Travels, Generic Medicine etc. MSIL supplies quality notebooks and stationery at affordable prices under its well-known ‘LEKHAK’ & ‘VIDYA’ brands. The notebooks are manufactured by empaneled MSMEs, resulting in employment for a large number of people. As Educational institutions embrace technological advancements (Ed-Tech), education itself is becoming costly, moving beyond the domain of the poor. MSIL has devised an ‘EdTech’ Solution to ensure better outreach to a large student population who cannot afford private education. Lekhak EdTech aims to…

Sri. MK paper mills is one among the few paper mills to have the production capacity of 45,000 TPA. The company in now, one of the leading player in the industry, offering a wide range of products to customers worldwide. They are known for their high standards of quality and excellence in producing eco-friendly paper. MK Paper Mills is known for its state-of-the-art manufacturing facilities, deploying the latest technology and processes to produce premium paper products. Set up in, 2013, to meet this growing demand for paper products, it has evolved to offer innovative, useful Kraft Paper products that meet consumer demands while achieving the highest quality standards. Using unique automated processes and high-quality, Eco-friendly materials, their products deliver consistent grammage, accurate moisture distribution and burst factor. MK Paper Mills…

Embarking on a journey fueled by passion and driven by a relentless desire to create extraordinary experiences for travelers, Liberatha Kallat, the Chairperson and Managing Director of Dreamfolks Services is a true harbinger of change, amplifying the experience of travelers through integrated airport services. She is a trailblazing entrepreneur who has disrupted the airport services industry in India with her innovative approach and has driven DreamFolks towards becoming India’s largest airport service aggregator platform. Since its inception in 2013, DreamFolks has grown to become an end-to-end technology solutions provider, offering customized services that benefit card networks, card issuers, lounge operators, corporate clients, and end consumers alike. Redefining Airport Experiences through Dream Folks In an ever-evolving airport services landscape, one aspect remains constant: the pursuit of service excellence. With this thought,…

ON JANUARY 29, during his monthly radio programme Mann Ki Baat, Prime Minister Narendra Modi highlighted the issue of electronic waste (e-waste) accumulation in India. He referred to a report by the UN, stating that a staggering 50 million tonnes of e-waste is discarded annually. Modi brought out the context of this scale by pointing out that the weight of all commercial planes ever constructed put together would be less than that of the e-waste being generated. In fact, he likened the rate of e-waste disposal to discarding 800 laptops every single second. The PM’s decision to address the mounting problem of e-waste is not without reason. India currently ranks third among the largest generators of e-waste globally, behind only China and the US. The volume of e-waste in India…

REDUCING CARBON EMISSIONS is a global priority. Finance, investment and new technologies are needed to reduce greenhouse gases and keep global warming in check. Usha Rao-Monari, Associate Administrator of the United Nations Development Programme (UNDP), in an interaction with Business Today, talks about climate change, the need for climate finance and what India should focus on. Edited excerpts: At COP27, there was an emphatic warning that we are speeding towards catastrophic climate change. Even with so much happening, what are we lacking? It’s a complicated question, and the answer will also be complicated, but allow me to simplify it. Somehow climate, climate concepts, and climate finance have all managed to stay at an obscure, convoluted level. The ‘how’ has prevented us from accomplishing some of the necessary goals. In terms…

Mahindra Accelo is part of $30 bn Mahindra Group. Mahindra Group was formed in 1945 and its 1st business was steel trading and Mahindra Accelo has carried forward that legacy and today has transformed into a leading Mobility & Energy Component Company. Mahindra Accelo’s leads the decarbonization revolution by offering sustainable products and recycling vehicles to create resilient & sustainable world. Mahindra Accelo caters to Mobility & Energy segment. Mahindra Accelo as part of Mahindra Group has set an ambitious target to be carbon neutral by 2040 and is taking substantial strides towards achieving the same through product innovation & enhanced focus on developing sustainable products. Mobility segment - Accelo supplies high end and sustainable components to Electric Vehicles and automotive segment. Using advanced high strength steel, Accelo makes critical…

▶ IT WAS A long time coming. Financial influencers, or ‘finfluencers’ in market parlance, had been under the scanner for a while. Government officials and regulatory bodies—across the globe—had thought long and hard on ways to regulate the actions of these individuals as some of them had assumed cult status with millions of followers on social media platforms. Besides, the regulators had to act fast to ensure that unsuspecting investors would not end up losing money because of biased or unfair advice or recommendations. Finally, capital markets regulator Securities and Exchange Board of India (Sebi), on May 25 sent a strong signal to finfluencers. It barred P.R. Sundar, a finfluencer with over a million followers on YouTube, from the securities markets for a year for allegedly providing advisory services—daily stock…

In 2022, NOP achieved a prestigious 5-star rating from GRESB (Global Real Estate Sustainability Benchmark), signifying its outstanding performance and effective implementation of its ESG framework. This accomplishment is a testament to NOP’s commitment to sustainability and ongoing efforts to enhance its sustainable practices. GRESB further highlighted NOP’s efforts by publishing a comprehensive case study highlighting the best practices NOP implemented within a short duration.…

Plastics have a largely negative public image and are seen as a problem material that needs to be eliminated. Is demonization justifiable? Flexible packaging requires less energy to manufacture and transport, which reduces greenhouse gas emissions and fossil fuel usage. Comparatively, materials like glass, rigid PET, and steel boxes commonly used in conventional packaging require large amounts of water and fossil fuels to manufacture. AMc Kinsey report states that in 5 of 6 categories in flexible packaging, the packaging material made from plastics had lesser greenhouse gas emissions when compared to its non-plastic alternative. While flexible packaging reduces a company’s carbon footprint, it does not address the issue of plastic waste pollution if that post-consumption packaging does not reach the appropriate recycling streams. How big is the problem of plastic…

SEGMENT 2 MILLION Digital-only top-end homes, with connected TV-only consumption 43 MILLION Digital-first homes with pay TV and one or more SVoD plans 45 MILLION Free TV homes which may or may not consume AVoD services 77 MILLION Pay TV homes that also consume AVoD services 150 MILLION No access to TV or OTT (video dark homes) SOURCE: FICCI-EY M&E REPORT 2023…

WHAT INDIA INC. THINKS INDIAN COMPANIES PERCEIVE MERIT IN SUSTAINABILITY AND DEVELOPING ESG—ENVIRONMENTAL, SOCIAL AND GOVERNANCE—CAPABILITIES, ACCORDING TO A DELOITTE INDIA SURVEY 88 per cent OF THE ORGANISATIONS SURVEYED BELIEVE SUSTAINABILITY REGULATIONS WILL DIRECTLY IMPACT THEIR BUSINESSES 75 per cent+ OF THE RESPONDENTS ACKNOWLEDGE THAT ESG IS A TOPIC FOR BOARD MEETINGS 90 per cent OF INDIAN ORGANISATIONS SEE VALUE IN ESG REPORTING 27 per cent OF COMPANIES FEEL THEY ARE FULLY PREPARED TO MEET ESG REQUIREMENTS Note: The survey covers leaders and CXOs of 150 global companies, of which more than 70 per cent are listed in India Source: Deloitte India’s ESG preparedness survey report, May 2023 THE IMPACT OF ESG ESG WILL HAVE TANGIBLE EFFECTS ON THE DAY-TO-DAY ACTIVITIES OF BUSINESSES IN ALL SECTORS, SHOWS A SURVEY (Figures…

1 Emissions in 2021 reached around 720 million tonnes, regaining nearly one-third of the drop from 2019 levels seen in 2020 2 Over the next 27 years, 65 per cent of total emission reductions are projected to be achieved using SAF 3 To date, globally more than 450,000 flights have operated using SAF globally 4 Growth in airline traffic by 2050 likely to generate 1.8 billion tonnes of carbon emissions if fuelled by traditional kerosene-based ATF 5 But it’s important to bring down per litre cost of SAF as it is up to five times more expensive than traditional jet fuel…

COMPLIANCE MARKET ▸ Compliance carbon markets are established by governments as a means to achieve their carbon reduction targets. These markets operate on a mandatory basis, with participating organisations required by law to participate in the market and meet certain carbon reduction targets VOLUNTARY MARKET ▸ Largely unregulated, such markets offer credits produced by emission-reduction initiatives that other companies can purchase to offset their carbon emissions. These offset credits can also be given out for initiatives that avoid or reduce emissions. There are various international standards for such carbon credits active in the market SOURCE EKI ENERGY, BT RESEARCH…

In the early years of independence, Late Shriram Beriwal dreamt of a self-reliant India. He knew the importance of a strong infrastructure that is needed to build a nation. Looking at category after category, he realized that it is steel that has a major role to play in every sector of infrastructure. Choosing the challenging path of steel production, he established Shyam Steel’s first factory in 1953 at Howrah. His brother Shyam Beriwala joined him to take the company to greater heights. Together, the brothers laid the foundation that transformed Shyam Steel into a formidable entity. Their leadership contributed to Shyam Steel’s world-class technology, quality control and complete professionalism, enabling the company to meet the stringent requirements of its reputed customers. In 2005, Shyam Steel had built its first Integrated…

Born and brought up at Mandia in Madhya Pradesh, Arun Kharia has a post-graduation in Chemistry to his credit. Joining Modern Laboratories as a Managing Director, he has overseen the growth of the company across 45 years with a strong vision, manufacturing quality drugs and expanded the range to manufacture dry powders & injections. Arun learnt from his father, the late P.C.Kharia that medicines are directly related to the life of a human being and hence one should not compromise in quality of drug. He realised that the big art of manufacturing medicines is to make complicated things simple. Staying abreast of industry practices and developing his skillsets, product or service to be the best in the field of pharmaceuticals, Arun has expanded the business by exploring the newer horizon,…

India is the third-largest producer of e-waste globally after China and the US If substanecs like lead and mercury aren’t disposed of properly, they can cause health hazards E-waste has increased exponentially from 700,000 tonnes in FY18 to 1.6 million tonnes in FY22 India’s e-waste management landscape is largely dominated by unregulated unorganised players The consumer durables market may see annualised growth of 10 per cent from 2022 to 2027, which could worsen the e-waste problem if not addressed now Source BT Research, Industry…

SIZE: The Railway Board has approved procurement of 238 Vande Bharat rakes under Mumbai Urban Transport Project (MUTP) BUDGET: Acquisition of rakes and expansion of suburban railway network to be done under MUTP-3 (₹10,947 crore) and MUTP-3A (₹33,960 crore) phases HIGHLIGHTS: 12-car vestibuled trains, fully a/c, automatic doors, uniform seating, LED lighting in the interiors, infotainment panels, digital signage on exits, separate vendor compartments, and CCTV surveillance and talk-back facility for passenger safety STRATEGY: Vande Bharat locals to redress the issue of declining ridership by providing a highly reliable world-class travel experience to commuters LAUNCH: Timelines to be defined in tender documents that are currently being prepared Source: MRVC, BT Research…

▸ Start-ups have launched a frantic search for CFOs. Experts say this can be attributed to the increased focus on profitability, corporate governance, and transparency ▸ Stakeholders also believe that while early-stage start-ups might not need a CFO since these executives are expensive, they do need a “financial controller” or an auditor who can ensure that checks and balances are put in place ▸ At growth-stage or late-stage start-ups, the primary role of a CFO is to strategise, allocate resources and be responsible for numbers if the start-up is dealing with large volumes or transactions…

LEED Carbon Zero & LEED Zero Energy One Trade Tower, Bengaluru, is the first developer-owned project in India to be awarded the LEED Zero Carbon Certification. These accolades reflect the One Trade Tower’s exceptional performance in energy efficiency and carbon neutrality. LEED Zero Carbon recognizes buildings operating with net zero carbon emissions for over one year. LEED Zero Energy certification is awarded to projects that generate renewable energy in amounts equal to the fossil fuel energy delivered to the project site. WELL-PR Certification NOP has now achieved an exceptional milestone by becoming the globally the largest WELL at scale enterprise account to receive the prestigious WELL Performance Rating. Nucleus Office Parks focuses on people-centric operations and wellness in its assets under management. As part of their ongoing efforts to provide a…

AMIT GUPTA, A software engineer who lives in Noida, commutes 20 km twice a week to work in Delhi. The 28-year-old prefers working from home the rest of the week to save on time and high fuel expenses for his sedan. In contrast, 30-year-old Minu Saxena, a sales executive based in Delhi, travels approximately 40 km daily to Gurugram and back, and loves long drives on weekends. Saxena drives for over 20,000 km a year, while Gupta’s car barely does 4,000 km. Yet, despite this vast difference in usage patterns, both pay similar motor insurance premiums. “I would prefer paying lesser than someone who commutes daily and travels long distances. On top of that, I am a very careful driver, which I wish my insurance company could consider while deciding…

27% of businesses from India are well-prepared to meet ESG requirements, while suppliers of only 15% of respondents are ready 49% of the businesses surveyed are aware of ESG reporting mechanisms and regulations in India 68% of the respondents have been able to formally integrate ESG strategies and mechanisms into their organisations 80% of the respondents report their ESG efforts via methods like sustainability reports (81 per cent), ESG reports (50 per cent) and BRSR & integrated reports (44 per cent) 75% of the companies surveyed communicate their ESG efforts; the most-used method is awareness programmes (85%), followed by annual meetings (76%) and investor decks (50%) SOURCE DELOITTE ESG PREPAREDNESS SURVEY REPORT…

1 What did Prime Minister Narendra Modi commit to at COP26 in 2021? A To achieve net-zero carbon emissions by 2070 B To increase India’s non-fossil energy capacity to 500 GW by 2030 C To meet 50 per cent of India’s energy requirements from renewable energy by 2030 D All of the above 2 What are Scope 3 emissions? A Direct emissions from owned or controlled sources B Indirect emissions from the generation of purchased energy C Indirect emissions from suppliers, customers, vendors, etc. D All of the above. 3 Which sector/industry is the largest greenhouse gas emitter in India? A Energy sector B Agriculture sector C Industrial sector D Transport sector 4 How much emission does one unit of carbon credit offset? A 1 metric tonne of CO2 equivalent B 2 metric tonnes of CO2 equivalent C 3…

WITH A VIEW to achieving net-zero carbon emissions by 2046, energy major Indian Oil Corporation had announced in August 2022 its plans to invest ₹2 lakh crore in phases, including purchasing carbon credits. Separately in September 2022, Indian energy sector behemoth NTPC was looking for a professional well-versed in carbon trading, who also had experience of working with carbon markets, carbon credits, carbon tax and emissions trading schemes, ESG, carbon neutrality, etc. While these are just two examples, there are many such entities that are working on such sustainability measures. But why the sudden interest? As temperatures and greenhouse gas (GHG) emissions rise, sustainability has become a major focus area not just for regulators, but even for investors, community stakeholders, consumers, and more importantly industries, all worrying about the devastating…

With a track record of successful brand transformations and an unwavering commitment to excellence, Advit has established himself as a true marketing visionary. Advil’s journey to success began early in his life. As a student, he displayed exceptional talent, securing the national level top position in Mathematics during his CBSE Class Xth boards. This early demonstration of his analytical and problem-solving skills foreshadowed the brilliance he would bring to the world of marketing. One of Advil’s most significant achievements was becoming India’s first Marketing head for an eCommerce IPO on NSE/BSE. This groundbreaking feat showcased his ability to drive successful market launches and set the stage for his future triumphs. It was during this time that Advit’s unique perspective and innovative strategies started to make waves in the industry. Advit’s…

For Dr. Anil Kharia, Modern is not just a company, but it is a way of living and a continuous process of evolution. He believes that his biggest responsibility is to save and serve humanity. Completing his double post graduation in M.Pharma from Dr Hari Singh Gaur University and MBA from Devi Ahilya Vishva Vidhyalaya, he got into the pharma industry joining the Modern Laboratories. In the year 1987, Dr. Kharia launched a new company, Nandani Medical Laboratories Pvt Ltd, with an injection manufacturing unit, while others were starting their businesses with tablets. Anil started Modern Institute of Pharmaceutical Sciences in the year 2007 and consecutively also started Modern Institute of Professional Sciences and Modern Institute of Professional Studies. Aware that education is the foundation for building a value-based society…

The Firodia family has had a legacy of serving the people. Spiritual in their approach to life, they have held a belief that they should serve and help people. The late Kundanmaji Firodia was the first lawyer from the Oswal community in Ahmednagar and a staunch Gandhian. Post-independence, he served as a speaker for the Bombay Assembly too. Hisson the Late Motilalji Firodia founded The Ahmednagar District Central Cooperative Bank, which has grown to become Asia’s largest Co-operative Bank. He also served as a Member of Parliament, representing Ahmednagar, turning down the nomination for the next term to devote his time for social causes and betterment of Ahmednagar. He also founded Namoha Foundries, a leading cast iron foundry in the state. The 3rd Generation, the Late Shantikumarji Firodia expanded the…

1 On November 2, 2022, E-Waste (Management) Rules, 2022, were notified, and came into effect on April 1, 2023 2 All manufacturers, producers and recyclers are required to register with the Central Pollution Control Board 3 The number of units of electrical and electronic items falling under the rules’ domain increased to 106 from 21 Source BT Research, Industry $143.87 billion PROJECTED MARKET SIZE OF GLOBAL E-WASTE MANAGEMENT BY 2028, UP FROM $49.88 BILLION IN 2020, PER STATISTA…