Godrej Industries (GIL) has communicated the following – GCL, the financial subsidiary of GIL was started in 2020 and since then has been providing home loans in select geographies. It is the holding entity for Godrej Housing Finance (an HFC) and Godrej Finance Limited (an NBFC). It is currently present across Mumbai, Bengaluru, Delhi NCR, … Read more
In it’s quarterly operating performance update for March 2022 quarter, Paytm founder Vijay Shekha Sharma (VSS) has informed the following – Paytm should be Operating EBITDA (before ESOP cost) break-even in the next 6 quarters i.e., by September 30, 2023. During December 2021 quarter, Paytm had reported EBITDA (before ESOP cost) loss of Rs 393 … Read more
Suzuki Motor Corporation, Japan (SMC) has announced the following – At Suzuki’s existing facility in Gujarat Rs 7,300 crore to set up a EV Battery manufacturing facility by 2026 Rs 3,100 crore towards increasing the manufacturing capacity of EVs by 2025 Key points to note – SMC owns 56.37% of Maruti Suzuki India (MSI). MSI … Read more
MD of Tube Investments of India (TII) has said that the Company will be soon launching electric tractors and three wheelers. Key points to note – Initially a low HP electric tractor will be launched, maximum by July 2022. Electric three wheeler will be launched by August 2022. Both these segments are selected as the … Read more
Mahindra and Mahindra Financial Services (MMFS) continues to sound very positive on the asset quality and has predicted big improvements. Key points to note – As at December 31, 2021, its Gross NPA (GNPA) as per IND-AS was 11.30% and as per IRACP at 14-15%. (IND-AS are the accounting norms and IRACP is RBI’s Prudential … Read more
In case a customer chooses to return the truck, the ex-showroom price of the truck will be refunded after all the requirements are fulfilled as per the terms and conditions. Key points to note – Mileage guarantee is being offered on the entire BS6 truck range from 3.5 tonne till 55 tonne, including Blazo X … Read more
JSW Steel is targeting to increase the capacity from 12 Million Tonne Per Annum (MTPA) to 18 MTPA by FY 24. Key points to note JSW Steel Vijayanagar Works is the largest single-location integrated steel-making facility in India with a current capacity of 12 MTPA. 18 MTPA target is through – 5 MTPA brownfield expansion … Read more
Lodha has indicated the following – Complete repayment of $225 mn bonds in the next 4 months. These were raised against it’s UK projects in March 2020 and are originally scheduled to be repaid by March 2023. However, they would be prepaid due to strong sales from UK projects during the last 2 quarters. Target … Read more
In May 2021, Godrej Consumer Products Ltd (GCPL) had announced hiring of HUL veteran Sudhir Sitapati as MD & CEO. He joined the Company in October 2021. Sitapati has replaced Nisaba Godrej from the Promoter’s family, who was holding the position temporarily after Vivek Gambhir had quit in the previous year. Nisaba however continues as … Read more