Page 7 - Companies

Hero MotoCorp eyes double-digit revenue growth next fiscal: CFO Anand

The country's largest two-wheeler maker Hero MotoCorp expects double-digit revenue growth next fiscal riding on the back of continued investments on new products and segments, according to Chief Financial Officer Vivek Anand. The company, which reported a revenue of Rs 10,260 crore for the December quarter, also anticipates a double-digit revenue growth in the current fiscal. "This year, the guidance we have given is for double-digit revenue growth. Looking at our first nine months performance and looking at how this quarter (fourth) has started, we believe that there will be a repeat next year, a double-digit revenue growth," Anand said in an analyst call. The company's consolidated revenue from operations for FY24 stood at Rs 37,789 crore as compared with Rs 34,158 crore in FY23. On the business outlook, he noted that the company would continue its investments behind new products and segments. "We remain consistent in our commitment towards investing behind the premium and EV ..

IT companies likely to roll out 3-6% hikes this year, say HR experts

According to reports, the IT attrition rate for this year is expected to be around 12-13 per cent

Tractor recovery, new launches to maintain volume momentum for M&M

Growth takes root: Automaker cultivates volume momentum as farm and auto segments harvest gains

Akzo Nobel India Q3 result: Profit dips slightly by 4.6% to Rs 108.6 crore

Paints and coatings maker Akzo Nobel India Ltd on Friday reported a decline of 4.56 per cent in its consolidated net profit at Rs 108.6 crore for the third quarter ended on December 2024 on account of rise in raw material costs. The company had posted a net profit of Rs 113.8 crore in the October-December quarter a year ago, according to a regulatory filing from Akzo Nobel. Its revenue from operations rose 1.72 per cent to Rs 1,050.5 crore in the quarter under review, up from Rs 1,032.7 crore in the corresponding period of the previous fiscal. Total expenses of Akzo Nobel, maker of Dulux paints, increased 2.32 per cent to Rs 910.3 crore in the December quarter. Akzo Nobel's total income, which includes other income, in the December quarter, was at Rs 1,056.5 crore, up 1.47 per cent. Commenting over the results, Chairman and Managing Director, Rajiv Rajgopal said, " In Q3 FY25, we achieved both volume and value growth despite subdued market conditions. Favourable demand in ...

Govt says 339 foreign companies registered in India in last 5 years

The government on Tuesday said 339 foreign companies have been registered in the country in the last five years and the registration of such firms has been on the decline since 2020. This year, five foreign companies have been registered -- 1 each in Andhra Pradesh, Delhi, Kerala and two in Tamil Nadu, official data shared by Minister of State for Corporate Affairs Harsh Malhotra with the Rajya Sabha showed. Under Section 2 (42) of the Companies Act, 2013, a foreign company means any company or body corporate incorporated outside India, which has a place of business in India whether by itself or through an agent, physically or through electronic mode. "Thus, foreign companies are incorporated outside India and they have a place of business in India. These companies are set up with foreign capital," he said. While 90 foreign companies were set up in 2020, the number came down to 75 in 2021 and 64 in 2022. The count reduced to 57 in 2023 and 53 in 2024. On whether certain foreign ..

Over 17,600 companies shuttered, 138k registered in FY25, shows govt data

As many as 17,654 companies have been closed down till January 26 in the current financial year and a total of 1,38,027 firms were registered during the same period, according to official data. The data was shared by Minister of State for Corporate Affairs Harsh Malhotra to the Rajya Sabha as part of a written reply on Tuesday. As per the data, 17,654 companies have been shuttered in the current financial year till January 26. The figure includes companies that have been amalgamated, converted into LLPs, liquidated/dissolved and struck off from the official records. The count of shuttered companies stood at 22,044 and 84,801 in 2023-24 and 2022-23, respectively. The data was furnished in response to questions by YSRCP Rajya Sabha member Parimal Nathwani. Companies are registered in the country under the Companies Act, which is implemented by the corporate affairs ministry. The ministry also implements the Limited Liability Partnership (LLP) Act. Till January 26 of the current fi

Bajaj Electricals Q3: Profit falls 10.7% to Rs 33.36 cr, revenue up 5%

Bajaj Electricals Ltd on Tuesday reported a decline of 10.7 per cent in consolidated net profit at Rs 33.36 crore for the third quarter ended on December 31, 2024. The company had posted a net profit of Rs 37.36 crore in the October-December period a year ago, according to a regulatory filing from Bajaj Electricals. However, its revenue from operations climbed 5 per cent to Rs 1,289.72 crore during the quarter under review. The same stood at Rs 1,228.24 crore in the corresponding quarter a year ago. Bajaj Electricals' total expenses in the December quarter was Rs 1,257.09 crore, up 3 per cent. Its revenue from Consumer Products (CP) rose 8.54 per cent to Rs 1,038.45 crore, against Rs 956.66 crore in the corresponding quarter of the preceding fiscal. However, revenue from Lighting Solutions declined 7.47 per cent to Rs 251.27 crore, in comparison with Rs 271.58 crore a year ago. The company's total income, which includes other income, was Rs 1,302.51 crore, up 2.48 per cent in the

MobiKwik's Q3 FY25 loss widens to Rs 55.2 cr as expenses increase

Fintech firm to discontinue small-ticket lending product and focus on long-tenure products

'Tax cuts to boost consumption', say top executives across sectors

The government's plan is estimated to help around 25-30 million personal tax payers save about 100,000 rupees annually, according to Kamal Bali, managing director of Volvo Group India

DeepSeek's AI restricted by 'hundreds' of companies amid concerns over leak

Chief among those worries is the fact that DeepSeek states in its own privacy terms that it collects and stores data in servers in China

Companies in India not using IBC enough to resolve insolvency: IBBI chief

IBBI data suggests that the share of CIRPs initiated by corporate debtors or companies is declining over time

Q3 results today: Adani Ports, L&T, BEL, GAIL to report Q3FY25 earnings

Over 100 companies, including Adani Group entities, L&T, and banking majors, are set to release Q3FY25 results on January 30, offering insights on growth momentum and market outlook

Quick commerce unicorn Zepto completes reverse flip from Singapore to India

Sharing the update, Zepto co-founder and chief executive officer, Aadit Palicha, said the company has received formal approval from Singaporean courts and the National Company Law Tribunal (NCLT)

Ares looks to boost private credit presence in record Indian market

The alternative asset manager has deployed $4.5 billion to Indian companies as of the end of September, roughly half the firm's investment in Asia over the past five years

Godrej Enterprises to invest over Rs 1,200 cr on digital solutions

Godrej Enterprises Group on Monday said it will invest over Rs 1,200 crore over the next three to five years in new digital solutions and technology platforms. The group, which comprises Godrej & Boyce and its affiliates, and has a presence across multiple industries spanning aerospace and aviation to defence, furniture and IT software, said the investments will include strategic digital platforms, AI, and generative AI technologies across business units. "With a consumer base of over 1.1 billion, we are committed to redefining how customers interact with us. Our vision is to create a customer-first ecosystem that offers a unified experience that helps foster deeper relationships with our stakeholders," Godrej Enterprises Group (GEG) Executive Director, Nyrika Holkar said. She further said, "With cutting-edge digital and AI tools, extensive skills training, and unwavering commitment to transformation, we want to shape the future of customer experience." To achieve a seamless ...

Zetwerk Manufacturing strengthens leadership team in preparation for IPO

The manufacturing firm has assembled a leadership team with extensive experience in electronics manufacturing to drive operations and innovation

IDBI Bank disinvestment progresses, due diligence begins, to end by H1FY26

The Union government and Life Insurance Corporation jointly hold a 95 per cent stake in IDBI Bank, of which they are selling 60.72 per cent

Mouth freshener brand JoySpoon's funding round reaches Rs 1.81 crore

Founded by husband-and-wife duo Vaishali Mehta and Yash Mehta, JoySpoon is tapping an industry expected to grow to Rs 27,491 crore by 2028

OMEGA unveils Speedmaster Moonphase Meteorite watch, honouring Apollo 11

Each dial features a unique meteorite pattern, with ribbon-like flecks formed over millions of years

Short-seller Hindenburg Research behind Adani Group selloffs disbanded

Hindenburg Research, a US investment research firm known for short-selling, and whose reports resulted in wiping out billions of dollars of Indian billionaire Gautam Adani and his companies, has been shut down, its founder Nate Anderson announced Wednesday. As I've shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research. The plan has been to wind up after we finished the pipeline of ideas we were working on. And as of the last Ponzi cases we just completed and are sharing with regulators, that day is today, Anderson announced. In the last few years, Hindenburg Research had launched a campaign against the Adani group. Its reports published since 2023 had resulted in billions of dollars of loss for the Indian billionaire. All the charges were denied by Adani and his companies. The sudden and surprising announcement by Anderson comes within days of a Republican Congressman, a member of the House Judiciary Committee, asking