Titan Reports Marginal Dip in Q3 Profit While Revenue Surges 25 Pc
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Titan Reports Marginal Dip in Q3 Profit While Revenue Surges 25 Pc

Titan, the leading jewellery and watchmaker, reported a slight decline in its consolidated net profit for the December quarter, standing at Rs 1,047 crore, compared to Rs 1,053 crore in the same period last year, as per its regulatory filing. Despite the marginal dip in profit, the company’s sales surged by 25.68 percent to Rs 17,550 crore, up from Rs 13,963 crore in the corresponding quarter of the previous year. The total expenses rose by 27.47 percent to Rs 16,472 crore during the quarter, while total income, including other income, increased by 24.9 percent to Rs 17,868 crore.

Titan’s jewelry business saw a strong 26.62 percent growth, reaching Rs 16,134 crore, with its India segment witnessing a 25% rise. The company attributed this positive trend to the festive season, stating, "The festive quarter brought consumer cheer, with secondary sales recording an impressive 28 percent growth buoyed by higher gold prices, wedding-related purchases growing by 29 percent, and healthy same-store sales growth of 22 percent compared to Q3 FY24."

Gold jewelry and coins remained popular among consumers, recording a 27 percent growth over the third quarter of FY24. Titan expanded its jewelry presence by opening 11 new Tanishq stores and adding 13 Mia by Tanishq outlets in India.

In the watches and wearables segment, revenue increased by 15.31 percent to Rs 1,137 crore. The analog watch segment performed well, with a "robust 20 per cent growth over Q3 FY24 primarily led by Titan brand clocking 18 percent growth in the same period." International watch brands also saw a strong retail growth of 30 percent over the previous year. However, the wearables category witnessed a decline of 20 percent, with average selling prices and volumes falling by 8 percent and 7 percent, respectively, compared to Q3 FY24. The company added 23 new stores in Q3 FY25, including 12 Titan World stores, 10 Helios stores, and one Fastrack store.

Titan’s Eyecare segment revenue grew by 16.66 percent to Rs 196 crore, with international brand sales recording a 56 percent rise compared to Q3 FY24. The company highlighted that "within product categories, sunglasses sales outpaced others, growing 35 per cent while frames and lenses grew in mid-double digits over their respective Q3FY24 numbers." The company also opened three new Titan Eye+ stores during the quarter.

Revenue from Titan’s other segments, including accessories, fragrances, and Indian dresswear brand Taneira, stood at Rs 312 crore, slightly lower than Rs 313 crore a year ago. While "Taneira recorded flattish sales for the quarter," fragrances saw a 27 percent increase, driven by a 23 percent growth in the SKINN brand. In fashion accessories, excluding discontinued belts and wallets, women's bags under the IRTH and Fastrack brands recorded an impressive 25 percent growth over the previous year.

Titan, a joint venture between the Tata Group and Tamil Nadu Industrial Development Corporation (TIDCO), saw its shares settle 0.26 percent higher at Rs 3,589.50 per share on the BSE.

 
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Starbucks Introduces Seasonal Offerings for Valentine’s Day
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Starbucks Introduces Seasonal Offerings for Valentine’s Day
 

Starbucks has introduced a limited-edition Valentine’s Day menu in India, featuring new beverages and desserts. The brand, known for its café experience, aims to offer customers a selection of themed items during the season.  

The highlight of the menu is the Pink Drink, a globally popular beverage now available in India. Priced at Rs 350, it has a strawberry base with coconut milk, caffeine, and freeze-dried strawberries for added texture. The drink, originally a secret menu item, gained widespread popularity and became an official Starbucks beverage in 2017.  

Other menu additions include:  

  • Crème Brulée Latte and Frappuccino – A blend of espresso and steamed milk with Crème Brulée flavors, topped with vanilla caramel sugar and whipped cream.  
  • Valentine’s Marble Loaf Cake – A mix of chocolate and vanilla with cream cheese frosting, crushed pistachios, and rose petals.  
  • Valentine’s Blossom – A rose milk sponge cake layered with frosting and strawberry glaze.  

Alongside the menu, Starbucks has introduced Valentine’s-themed merchandise, including Pink Bling Cups, Made for Each Otter mugs, and the Bearista Pair plush toys. These products are priced from Rs 950. Starbucks continues to expand its seasonal offerings in India, aligning with consumer trends and festive celebrations.

 

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Page Industries Reports Strong Profit Growth in Q3 FY25
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Page Industries Reports Strong Profit Growth in Q3 FY25
 

Page Industries Limited, a leading apparel manufacturer in India, has announced its financial results for the third quarter and nine months ending December 31st, 2024, highlighting consistent growth within the Indian retail sector.

Key Financial Highlights for Q3 FY25:

  • Sales volume increased 4.7 percent YoY, totaling 57.8 million pieces
  • Revenue reached Rs 13,131 million, reflecting a 7.1 percent YoY increase
  • EBITDA stood at Rs 3,025 million, a growth of 33.6 percent YoY
  • Profit After Tax (PAT) was Rs 2,047 million, up 34.3 percent YoY

Key Financial Highlights for 9M FY25:

  • Revenue amounted to Rs 38,368 million, growing 7.3 percent YoY
  • EBITDA reached Rs 8,273 million, reflecting a 19 percent YoY increase
  • PAT was Rs 5,651 million, marking a growth of 22.6 percent YoY

V.S. Ganesh, MD of Page Industries Limited said, “I am thrilled to announce that we have achieved strong profit growth, driven by consistent revenue increases and meticulous control over operating expenses. Our unwavering commitment to investing in top talent, product innovation, and digital transformation is propelling us towards our strategic goals. We are perfectly positioned to seize promising future growth opportunities, with modern retail and e-commerce continuing to serve as powerful growth engines. Our focus on these areas not only strengthens our overall market position but also ensures we remain at the forefront of industry advancements.

While the Indian apparel retail sector faces short-term challenges due to subdued consumer sentiment, long-term growth remains strong, fueled by economic growth, urbanization, and increasing disposable incomes. Key growth drivers include athleisure and innerwear, with the expansion of organized retail and e-commerce providing additional momentum.

 

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Akzo Nobel India Reports 2 Pc Revenue Growth in Q3 FY25
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Akzo Nobel India Reports 2 Pc Revenue Growth in Q3 FY25
 

Akzo Nobel India Limited, a leading paints and coatings company and maker of Dulux Paints, has announced its financial results for the quarter and nine months ending December 31, 2024. The company reported steady revenue growth in the retail sector despite challenging market conditions in India. 

Q3 FY25 Performance  
For the third quarter of FY25, revenue from operations rose by 2 percent to Rs 1,050.5 crore compared to the same period last year. However, EBIT from operations declined by 2 percent to Rs 143.5 crore, and profit after tax (PAT) fell by 5 percent to Rs 108.6 crore.

9M FY25 Results  
For the nine-month period ending December 2024, the company’s revenue from operations increased by 3 percent to Rs 3,069.1 crore. EBIT rose by 1 percent to Rs 414.8 crore, while PAT grew by 1 percent to Rs 321.1 crore.

Rajiv Rajgopal, Chairman and Managing Director of Akzo Nobel India stated, “In Q3 FY25, we achieved both volume and value growth despite subdued market conditions. Favourable demand in infrastructure, power, mining, marine, and real estate sectors fueled sustained B2B momentum in paints and coatings. Prudent cost management protected profitability, effectively mitigating the impact of raw material inflation on margins. Overall, our performance in 9M FY25 reflects continued growth and strong double-digit profitability trajectory with market share gains.

Recent Developments in Product Portfolio  
The company introduced several new products in its Decorative Paints category:  

  • Dulux Promise Freedom offers an upgrade from distemper to a more durable, entry-level emulsion with improved whiteness, coverage, and finish.  
  • Dulux Aquatech DampProtect 2in1 strengthens the waterproofing portfolio with AquaProtect technology, offering up to 8 years of protection for both vertical and horizontal surfaces.  
  • Dulux Professional M900 Premium Gloss Enamel is the company's first enamel product for the professional segment, providing high gloss retention, washability, and durability for high-traffic surfaces.

In addition, Akzo Nobel’s Resicoat Electric Insulation range of powder coatings received Underwriters Laboratories (UL) flame retardant certification. This certification is expected to open new opportunities in the electric vehicle market, where demand for sustainable and high-performance coatings is increasing.

Akzo Nobel India’s vocational skill-building initiative, Project Revive, which focuses on training drug-rehabilitated youth in decorative painting, received a Special Mention at the North-East CSR Awards 2024. Launched in 2021, the project has benefited over 800 youth across Assam, Manipur, and Arunachal Pradesh.

 

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Agro Tech Foods Strengthens FMCG Portfolio with Del Monte Deal
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Agro Tech Foods Strengthens FMCG Portfolio with Del Monte Deal
 

Agro Tech Foods Limited (ATFL) has completed the acquisition of Del Monte Foods Private Limited (DMFPL), marking a key development in its expansion strategy. The combined turnover of ATFL and DMFPL in FY24 was approximately Rs 1,300 crore, with DMFPL contributing around 40 percent to this total and 38 percent to the EBITDA of the merged entity.  

Following the acquisition, Bharti and Del Monte Pacific Limited (DMPL) have become shareholders in ATFL through a preferential allotment of equity shares. Bharti now holds a 21 percent stake, making it the second-largest shareholder, while DMPL has a 14 percent stake. Additionally, ATFL has appointed Harjeet Kohli, Joint Managing Director of Bharti Enterprises, as a director on its board.  

The acquisition brings Del Monte’s product portfolio, including Italian foods, condiments, packaged fruits, and beverages, under ATFL’s umbrella. ATFL now holds an exclusive and perpetual license for the Del Monte brand in India. The company will also leverage Del Monte’s manufacturing and R&D facility in Hosur, Tamil Nadu, to enhance product innovation, quality control, and market distribution. The partnership is expected to strengthen ATFL’s presence in both retail and business-to-business segments, including quick-service restaurants and institutional buyers.  

Nitish Bajaj, Group Managing Director of Agro Tech Foods Limited said, “We are excited to formally welcome Del Monte India into the ATFL family. This strategic partnership strengthens our ability to offer a broader range of high-quality food products to Indian consumers. With Del Monte’s strong brand recognition and our expertise in food innovation and distribution, we are well-positioned to accelerate growth and create significant value for our stakeholders.”  

Abhinav Kapoor, CEO and Whole Time Director of Del Monte Foods Private Limited added, “The combination of the soon-to-be-rebranded Sundrop Brands and Del Monte Foods Pvt Limited marks a strategic milestone, unlocking new avenues of growth for the business. We are confident that by capitalizing on the emerging demand, leveraging our distribution network, and enhancing our operational efficiency, we can drive significant growth across product categories. This will not only boost sales but also create exciting opportunities for Del Monte employees, while delivering greater value to our customers and stakeholders.

 

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Vishal Fabrics Limited Appoints New CEO to Lead Next Phase of Growth
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Vishal Fabrics Limited Appoints New CEO to Lead Next Phase of Growth
 

Vishal Fabrics Limited (VFL), a prominent player in the textile sector, has announced the appointment of Suketu Shah as the new Chief Executive Officer (CEO). The company, known for its high-quality denim fabric, is looking to accelerate its growth in the competitive retail and textile industry in India. Suketu Shah’s appointment follows the elevation of the former CEO, Vinay Thadani, who now leads GREW Solar, the renewable energy arm of the Chiripal Group.

Suketu Shah brings more than 40 years of experience in the textile industry. His career spans key roles at several well-established organizations, including LNJ Denim, part of the RSWM Group, Mafatlal Industries Limited, Aarvee Denims and Exports Ltd APAC Inti Corpora in Indonesia, and Raymond UCO Denim Pvt. Ltd. His expertise also includes strategic contributions to Modern Denim Ltd. and Arvind Limited, where he played a key role in driving significant growth.

A gold medalist from MS University in Vadodara, Suketu Shah holds a Bachelor of Science (BSc) degree and a Diploma in Textile Chemistry (DTC), combining a strong academic background with practical industry experience. 

Suketu Shah said, “I am truly honored to be part of Vishal Fabrics Limited, a company renowned for top quality denim fabric. I am excited about embarking on our journey to chart out the next phase of growth in Vishal Fabrics. We are dedicated to enhancing stakeholder value through sustainable business practices.

Brijmohan D. Chiripal, Managing Director of Vishal Fabrics Limited added, “We are delighted to welcome Suketu to the Chiripal family. VFL is at an inflection point, and Suketu’s strong business acumen, coupled with his vast knowledge of the sector, will help us navigate the growth journey. We look forward to greater success ahead.

 

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Trent Limited Reports Strong Growth in Q3 FY25 Results
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Trent Limited Reports Strong Growth in Q3 FY25 Results
 

Trent Limited has reported its financial results for the quarter ending December 31, 2024, with both standalone and consolidated results showing strong growth. The company saw significant revenue and profit increases across its fashion and hypermarket businesses, driven by accelerated store expansions and strategic investments in technology and supply chain.

For Q3 FY25, Trent Limited's standalone revenues (including GST) were Rs 4,803 crore, marking a 36 percent year-on-year increase compared to Q3 FY24. Profit Before Tax (PBT) stood at Rs 618 crore, reflecting a 38 percent growth over the same period last year. The company continues to expand its retail footprint aggressively, with over 850 "large-box" fashion stores now operational across 201 cities.

During the quarter, Trent opened 14 Westside and 62 Zudio stores, including one in Dubai, across 46 cities. The company also consolidated two Westside and four Zudio stores. As of December 31, Trent's portfolio included 238 Westside stores, 635 Zudio stores, and 34 stores under other lifestyle concepts. Store optimization remains a priority, with plans to upgrade or consolidate smaller stores into newer ones located in more attractive micro-markets.

Despite the expansion, Trent maintains a strong focus on store quality, aesthetics, and customer experience, ensuring that these remain consistent across locations. The gross margin profile for both Westside and Zudio has remained steady, while the Operating EBIT margin for Q3 FY25 was 13.1 percent, slightly down from 13.3 percent in Q3 FY24.

The company's fashion concepts saw high single-digit like-for-like (LFL) growth in Q3 FY25, with a 33 percent increase in its retail footprint, now totaling over 11 million square feet. The Westside loyalty program, WestStyleClub, continues to gain traction, contributing to this growth. Emerging categories such as beauty, personal care, innerwear, and footwear are also gaining popularity and now account for over 20 percent of Trent's revenues. 

Online sales are another area of focus for Trent. Westside.com, along with its presence on the Tata Neu platform, reported a 45 percent increase in online revenues, now contributing more than 6 percent to the brand's overall sales.

On a consolidated basis, Trent reported revenues of Rs 4,937 crore for Q3 FY25, a 34 percent increase over the previous year. Profit Before Tax (PBT) for the same period was Rs 646 crore, showing a 36 percent growth year-on-year. The company's consolidated results exclude revenues from its Trent Hypermarket business but do include the profitability share from this venture, accounted for using the equity method.

The Star business, which includes 74 stores, showed notable improvement in operating performance, driven by an increase in own-brand sales, staples, fresh items, and general merchandise. This business registered an operating revenue growth of 25 percent and double-digit LFL growth in Q3 FY25.

Noel N Tata, Chairman of Trent Limited said “We remain on track to strongly expand our reach and improve the quality of our store portfolio. Our strong store opening program, along with other strategic initiatives, keeps our growth journey on track. The value proposition of our brands continues to resonate well with customers, as reflected in our results. Our fashion portfolio remains differentiated, and the market opportunity for building brands through a direct-to-customer approach is immense. We are also seeing strong traction in our Star business and are confident it will deliver substantial value over time for both customers and shareholders.

This financial performance underscores Trent Limited’s ongoing efforts to strengthen its position in the retail sector, leveraging store expansion, product diversification, and digital growth to meet the evolving needs of Indian consumers.

 

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LOTTE Opens New Ice Cream Manufacturing Facility in Pune to Boost Retail Presence
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LOTTE Opens New Ice Cream Manufacturing Facility in Pune to Boost Retail Presence
 

LOTTE has inaugurated one of its largest ice cream manufacturing facilities in Pune, Maharashtra, marking a key step in its global expansion strategy. The facility, covering 60,000 sqm, highlights LOTTE's commitment to the Indian market and its long-term vision for sustainable growth and innovation. The event was attended by Maharashtra's Chief Minister, Shri Devendra Fadnavis, and other key figures, including Dong Bin Shin, Chairman of Lotte Group, and various government and community representatives.

The new plant, with an impressive annual production capacity of 50 million liters, is designed to meet the increasing demand for ice cream in India, particularly during the summer. The facility includes nine production lines, with plans to expand to 16, and features high-speed machines integrated with automated robotic systems for secondary packaging, ensuring both efficiency and product quality. The investment of Rs 500 crore is expected to create over 1,000 jobs over the next two years, contributing significantly to the local economy.

We are very proud to inaugurate our new state-of-the-art facility, a significant milestone in LOTTE’s journey. India is an important market for us and an integral part of our global operations,” said Dong Bin Shin. He further emphasized that the Pune facility would help in making Havmor the most beloved ice cream brand in India.

Paul Chang Yi, CEO of LOTTE Wellfood Co Ltd added, “This step forward reflects our vision to make Havmor a trusted and most loved name in every corner of India.

Komal Anand, Managing Director of Havmor Ice Cream, India added, “There is enough headroom to grow consumption, given that per capita consumption of ice creams in India is low compared to other Asian countries. Our aim is to delight consumers with international best-selling products made right here in India.

 

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Sterling Holiday Resorts Reports Strongest Quarter Performance with 12 Pc Revenue Growth
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Sterling Holiday Resorts Reports Strongest Quarter Performance with 12 Pc Revenue Growth
 

Sterling Holiday Resorts Ltd. announced its Q3 FY25 results, marking the strongest quarterly performance in the company’s history. This achievement reflects Sterling’s strategy to balance its portfolio and expand its revenue base beyond the traditionally strong Q1 period. The company operates in India’s hospitality and resort retail sector, with a presence across 48 locations and 57 resorts, hotels, and retreats.

In Q3 FY25, Sterling reported a 12 percent year-on-year (YoY) growth in income, reaching Rs 1,389 million. EBITDA grew by 14 percent, with margins standing at 38.8 percent, while EBIT recorded a 13 percent YoY increase. This marks the 18th consecutive quarter of profitable growth for the company.

Vikram Lalvani, Managing Director and CEO of Sterling Holiday Resorts stated, “Sterling has seen the strongest ever quarter in its history. The results indicate the growing strength of Sterling, becoming the preferred brand for an increasing number of customers and comes on the back of a quarter with strong holiday demand, coupled with the increase of supply through our active expansion of resorts.

Sterling’s expansion efforts contributed to this growth, with the company launching three new resorts during the quarter: Sterling Lontano Waterfront Wayanad (Kerala), Sterling Brookstone Coorg (Karnataka), and Sterling Bagh Ranthambore (Rajasthan). The company has opened an average of one resort per month over the last 18 months and maintains a pipeline of new destinations.

The food and beverage segment, a key revenue driver, reported a 20 percent YoY growth, supported by an increase in dining options and facilities across Sterling's resorts. On a year-to-date basis, the company’s income grew by 14 percent to Rs 3,842 million, while EBITDA increased by 35 percent.

Sterling has also introduced its ESG initiative, *Sterling Sankalp*, focusing on energy efficiency, waste management, and water conservation. Initiatives include the installation of heat pumps for energy conservation, organic waste converters for waste management, and water recycling and rainwater harvesting systems across several resorts.

Sterling Holiday Resorts’ Q3 performance reflects the company’s strategic expansion and operational growth in India’s hospitality and resort retail market.

 

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Sula Vineyards Reports 34.71 Pc Decline in Q3 Profit Amid Slower Urban Consumption
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Sula Vineyards Reports 34.71 Pc Decline in Q3 Profit Amid Slower Urban Consumption
 

Sula Vineyards, a key player in India’s premium wine retail sector, reported a 34.71 percent year-on-year (YoY) decline in consolidated net profit to Rs 28.06 crore for Q3 FY25, compared to Rs 42.98 crore in the same period last year. The company’s revenue from operations, excluding excise duty, decreased by 1.42 percent YoY to Rs 200.15 crore in the December 2024 quarter.

Profit before tax also saw a 34.78 percent drop, standing at Rs 37.21 crore compared to Rs 57.05 crore in Q3 FY24. Sula's EBITDA fell 26.3 percent to Rs 53.9 crore from Rs 73.2 crore, with EBITDA margins narrowing to 24.8 percent from 33.5 percent in the prior-year quarter. Despite these declines, own-brand sales registered a modest 1 percent YoY growth, reaching Rs 194.7 crore as of December 31, 2024.

The wine tourism segment, however, posted positive results, with revenue growing 11.6 percent YoY to Rs 16.4 crore, driven by increased spending per guest, higher occupancy rates (81 percent vs 76 percent last year), and stronger average room rates during the festive and wedding season. The Elite and Premium wine categories contributed to a 5.6 percent YoY growth, with their share reaching an all-time high of 80.5 percent in Q3, up from 77 percent in the previous year.

For the nine-month period of FY25, consolidated net profit declined 28.32 percent to Rs 57.17 crore, down from Rs 79.76 crore in 9M FY24. However, revenue from operations rose by 1.87 percent YoY to Rs 453.49 crore.

Rajeev Samant, CEO of Sula Vineyards said, “We are pleased to report our 11th successive quarter of growth in the Own Brands business. However, our pace of growth slowed in Q3 impacted by three major factors: a broad-based consumption slowdown in urban India, election-related disruptions in Maharashtra, and WIPS credit captured being lower by Rs 4.7 crore vs last year due to the capping of WIPS at Rs 20 crore per annum at our Domain Dindori facility. Having said that, we have kicked off production at our Nashik unit, and so from FY26 onwards, we are well placed to realize 100 percent of the potential WIPS.

Samant highlighted that, despite the current challenges, long-term growth prospects remain positive. “Our Elite and Premium portfolio continued to see good momentum, even in a subdued environment. Revenue outside Maharashtra and Karnataka remained robust, with over 10 states achieving strong double-digit growth, now contributing 50 percent to our Own Brand sales,” he said.

The wine tourism division also reached its highest-ever Q3 revenue, reflecting Sula’s continued presence in India’s hospitality sector. The company expects this segment to end FY25 on a strong note, supported by the success of *SulaFest 2025* and the launch of its Dindori Tasting Room and Bottle Shop in Q4. Samant added, “Looking ahead, we are focused on driving profitable growth and target a significant expansion in earnings from FY26 as consumer demand recovers.

Sula Vineyards continues to operate in the manufacturing, purchasing, and retailing of premium wines and alcoholic beverages in India.

 

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Piccadily Agro Reports 32 Pc Rise in Q3 Profit, Driven by Distillery Growth
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Piccadily Agro Reports 32 Pc Rise in Q3 Profit, Driven by Distillery Growth
 

Piccadily Agro Industries Limited (PAIL), a key player in India’s alco-bev retail sector, has announced its Q3 FY24-25 results, showing significant growth in sales and profitability. The company, known for its Indri Single Malt and Camikara pure cane juice rum, reported an 18.48 percent year-on-year (YoY) increase in its distillery division revenue, reaching Rs 183.91 crore.  

On a standalone basis, Piccadily Agro achieved a Profit After Tax (PAT) of Rs 25.04 crore in Q3 FY24-25, marking a 32.14 percent increase compared to the same period last year. The company’s EBITDA rose 46.07 percent YoY to Rs 50.86 crore. Total revenue for the quarter stood at Rs 208.32 crore, with the net profit margin increasing to 12.02 percent, reflecting a 21.78 percent YoY growth. Earnings Per Share (EPS) rose by 33 percent YoY to Rs 2.65.  

Performance of Premium Alco-Bev Brands (Q3 FY24-25):  

  • Sales Volume Growth: Premium alco-bev brands recorded a 51.87 percent increase in sales volume compared to Q3 FY23-24.  
  • Single Malt Sales: Indri Single Malt experienced a 43.54 percent YoY growth in sales volume.  
  • Revenue Growth: Premium alco-bev brands posted a 39 percent increase in revenue YoY.  

Natwar Aggarwal, Chief Financial Officer of Piccadily Agro Industries Limited said, “Our strong Q3 performance reflects the growing global demand for Indri single malt and Camikara rum. An increase of 32.14 percent in PAT and a 46.07 percent surge in EBITDA YoY is a result of strong growth and performance of our distillery vertical. As we continue with our expansion plans, we endeavour to define the future of niche and premium alco-bev spirits in India by capitalizing on growth opportunities both organically and inorganically.”  

Piccadily Agro’s results highlight the company’s solid performance in the alco-bev retail market in India, supported by the rising demand for premium spirits both domestically and internationally.

 

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Dabur Partners with McKinsey to Refine Business Strategies Amid FMCG Slowdown
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Dabur Partners with McKinsey to Refine Business Strategies Amid FMCG Slowdown
 

Dabur has reduced its strategic vision cycle from four years to three, aiming to create a more agile organization in response to the slowdown in the FMCG sector and global uncertainties. The company has engaged consulting firm McKinsey & Co to refine and align its strategies for the next three years, ensuring they remain relevant to evolving market conditions, CEO Mohit Malhotra said during an earnings call.

"This exercise has already begun, and we plan to conclude the same by the end of the fiscal year. This will enable us to capture emerging opportunities and navigate the future with sharper and more focused vision," he stated.

Previously, Dabur followed a four-year vision plan and is currently in its seventh cycle. Malhotra explained that the shift to a three-year framework was necessary given the volatile macroeconomic environment and the underperformance of the FMCG sector. "Earlier we used to have a four-year vision cycle. We feel that in this volatile and heavy-headwind macroeconomic environment and FMCG not doing so well as a sector... we require validation of our strategies through an external consultant," he said.

By shortening the vision period, the company aims to make its strategies more adaptable and responsive to market changes. "Four years becomes a longish period, and therefore we have truncated it to three years, and it's also in line with the best practice in the industry, which is also around three years," Malhotra added.

McKinsey's role in this vision exercise includes conducting financial analyses, category reviews, and validating the company's overall strategy, including its key segments such as Chyawanprash and beverages. "So, they will focus on that along with defining the numbers in the milestones for the next three years, and this vision exercise will dovetail into the next year budgeting cycle also for us," Malhotra said. He also mentioned that while the exercise is not currently linked to specific target achievements, the company may consider doing so after its completion.

The external consultant will critically assess all of Dabur's businesses, both performing and non-performing, to determine their long-term viability. "Anything which does not have a right to win, they will be questioned and there will be a debate happening between the management and them to retain or to size down or to reduce investments. So, it will be a very strategic exercise that we are doing," Malhotra stated.

Dabur India reported a 1.85 percent increase in consolidated net profit to Rs 515.82 crore in the December quarter, with revenue from operations rising by 3 percent to Rs 3,355.25 crore for the October-December period. The company owns a portfolio of well-known brands, including Dabur Amla, Dabur Vatika, Dabur Chyawanprash, Dabur Honey, Honitus, Pudin Hara, Dabur Lal Tail, and the juice brand Real.

 

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Whirlpool of India Reports 49% Increase in Q3 Net Profit
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Whirlpool of India Reports 49% Increase in Q3 Net Profit
 

Retail and consumer durables company Whirlpool of India Ltd reported a 48.78 percent year-on-year increase in consolidated net profit for the third quarter of the fiscal year, reaching Rs 44.53 crore. The growth was attributed to calibrated price actions and improved execution in high-margin product categories. The company had posted a net profit of Rs 29.93 crore in the same quarter last year, according to a regulatory filing.

Revenue from operations rose 11 percent to Rs 1,704.85 crore in the October-December quarter, compared to Rs 1,535.65 crore in the corresponding period of the previous fiscal. The company noted that gross margin improvements were driven by pricing strategies and a focus on high-margin categories.

Despite a slow growth environment in the refrigerator and washing machine segments, Whirlpool of India maintained double-digit revenue growth for the third consecutive quarter. “Not only has overall refrigerator and washing machine volume share improved very significantly over last year, but growth is also broad-based with excellent share gains in direct cool, frost-free refrigerators, fully automatic top load and front-load washing machines, which signals robustness of the brand pull and execution excellence,” the company stated.

Total expenses for the quarter increased by 10.9 percent to Rs 1,696.17 crore, while total income, including other income, rose 11.72 percent to Rs 1,755.36 crore.

Shares of Whirlpool of India Ltd closed at Rs 1,149.75 on the BSE on Tuesday, reflecting a 2.73 percent decline from the previous close.

 

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Nexus Select Trust Reports 6% Growth in Net Operating Income for Q3 FY25
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Nexus Select Trust Reports 6% Growth in Net Operating Income for Q3 FY25
 

India’s first publicly listed retail Real Estate Investment Trust, Nexus Select Trust, reported a 6 percent year-on-year increase in net operating income, reaching Rs 441.6 crore in the third quarter of the current fiscal year. The company also announced a distribution of Rs 332.69 crore, or Rs 2.196 per unit, for Q3 FY25, reflecting a 10 percent rise. Retail portfolio trading occupancy stood at 96.8 percent, an increase of 70 basis points year-on-year.

Dalip Sehgal, Executive Director and CEO of Nexus Select Trust said “We witnessed strong net operating income growth of 6 percent year-on-year in a market environment showing early signs of consumption recovery. Nine of our malls recorded their highest-ever quarterly consumption in the quarter ended December 2024,”.

Categories such as fashion, jewellery, watches, beauty and personal care, and entertainment contributed to growth in the quarter, supporting an increase in footfalls. “We continue to focus on adding new experiences such as Dino Verse, Anamorphic screens, and live events to make our malls consumption and social hubs,” Sehgal added.

Nexus Select Trust’s portfolio includes 17 urban consumption centres with a gross leasable area of 99 lakh sq. ft. across 14 cities in India. It also comprises two hotel assets with 354 keys and three office assets with a gross leasable area of 13 lakh sq. ft.

 

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Ananya Birla Enters India’s Retail Beauty Market with New Venture
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Ananya Birla Enters India’s Retail Beauty Market with New Venture
 

Ananya Birla, daughter of billionaire Kumar Mangalam Birla, has announced her entry into India’s retail beauty and cosmetics sector with a new venture. The company plans to introduce a range of beauty and personal care brands across the country through 2025.

According to a statement, factors such as increasing disposable incomes, expanding e-commerce, and evolving consumer preferences are driving the growth of India’s beauty and personal care market, which is projected to expand at an annual rate of 10-11 percent and reach 34 billion USD by 2028.

“With greater exposure to global products and knowledge, Indian consumers now demand more from home-grown brands. This venture aims to meet those expectations with authenticity and innovation and bring world-class products to the Indian marketplace,” said Ananya Birla.

The company plans to launch products across various segments, including makeup and fragrances, with a phased rollout. Birla mentioned that the brands will challenge conventions and redefine consumer experience. The statement highlighted a focus on differentiated packaging, international standards, and promoting individuality. A global expansion for the venture is also under consideration. Further details, including the brand name and investment plans, have not been disclosed.

Ananya Birla, who launched the microlending firm Svatantra Microfin at 17, currently sits on the Aditya Birla Group’s apex strategic board. Svatantra Microfin is the second-largest NBFC-MFI in India and has secured significant private equity investments, impacting over 5 crore lives across 20 states. In addition to her business ventures, she recently introduced a beta version of a homegrown AI platform and has been an advocate for mental health initiatives.

 

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Dabur Strengthens Position in India’s Retail Oral Care Market
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Dabur Strengthens Position in India’s Retail Oral Care Market
 

Dabur has emerged as the second-largest player in the oral care segment within modern trade channels in India, driven by the performance of its Dabur Red Toothpaste and premium brand Meswak. The herbal toothpaste category, along with new products like Dabur Gel Toothpaste, has contributed to this growth. The company is working to address gaps in its portfolio to further strengthen its market position.

Operating in the segment with Dabur Red Toothpaste and Meswak, the company reported a 9.1 percent growth for the quarter and sees significant potential in the category. "The Gel toothpaste portfolio has received a good response, recording over 50% year-on-year growth this quarter. Dabur oral care is now the second brand in Modern Trade Pan-India," the company stated in a post-earnings call.

Mohit Malhotra CEO of Dabur quoted "Even in modern trade, where the competitor is very strong with premium variants, we have become the number two brand. This is very encouraging for us,". The oral care market is led by Colgate Palmolive, with FMCG major HUL holding the second position with brands such as Pepsodent, Closeup, and Ayush.

He also added"Dabur Red is performing well, benefiting from the overall growth in the herbal category. The herbal category has expanded by 7 percent compared to 5 percent growth in the non-herbal oral care category,".

Dabur operates in the oral care segment through its flagship brand Dabur Red, with Meswak positioned as a premium product and Babool at the entry level. The portfolio also includes Dabur Lal Dant Manjan and the Herbal Toothpaste range featuring Clove, Neem, and Tulsi.

"Dabur Herbal toothpaste, which we introduced last year, has shown strong double-digit growth. Ingredient-based toothpaste has also performed well for us,"  Mohit added. Despite these gains, the company acknowledged gaps in its oral care portfolio and is working to address them. Last year, it introduced a gel variant to fill one such gap, which has seen positive traction.

 

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[Funding Alert] Limelight Lab Grown Diamonds Bags $11 Mn to Expand Presence in India
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[Funding Alert] Limelight Lab Grown Diamonds Bags $11 Mn to Expand Presence in India
 

Limelight Lab Grown Diamonds, India's largest lab-grown diamond jewellery brand, has secured nearly Rs 90 crore in a funding round. The investment comes from leading fund houses, reputed broking firms, family offices, and the company’s promoters.

With this capital, Limelight aims to strengthen its retail expansion across India, enhance its design portfolio, and drive operational growth in the LGD sector.

Founded by Pooja Madhavan, the company has grown into one of the largest retail brands in the lab-grown diamond jewellery market. It currently operates over 30 standalone stores and 30 shop-in-shop outlets across 35+ cities in India. Limelight benefits from backing by two major industry players—the Bhathwari Group, the world’s largest producer of LGDs, and The Emerald Group, Asia’s largest jewellery manufacturer.

The funding comes amid growing consumer demand for lab-grown diamond jewellery, driven by increasing awareness and a shift toward design-centric and ethically sourced products. The LGD sector in India is experiencing an annual growth rate of 15-20 percent, supporting the company’s expansion plans.

Pooja Madhavan, MD of Limelight Lab Grown Diamonds stated, "The investment comes at a perfect time when the LGD sector is seeing a disruptive boom in India and will help us accelerate our growth to reach newer heights. We are on a mission to disrupt India's $80 billion jewellery market by offering consumers the widest choice of designer jewellery at the sweetest price points. We remain focused on making Limelight the largest sustainable luxury jewellery brand from India to the world."

 

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Shein India App Crosses 10,000 Downloads, Ranked Among Top 10 on Apple Store
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Shein India App Crosses 10,000 Downloads, Ranked Among Top 10 on Apple Store
 

Shein has made a comeback in India through a partnership with Reliance Retail, nearly five years after being banned. The newly launched Shein India app, which went live last Friday, is entirely owned and operated by Nextgen Fast Fashion, a fully owned subsidiary of Reliance Retail Ventures Ltd. The products on the platform are manufactured, marketed, and sold exclusively by Nextgen through a network of Indian manufacturers, with most being micro, small, and medium enterprises (MSMEs), according to an industry insider.

The platform has been developed and is hosted in India, with complete ownership and control retained by Reliance Retail. Shein has no equity ownership in the Indian company or the app, and the new platform has no connection to the previously banned Shein app or website (Shein.in), which was directly managed by Shein. The platform infrastructure and all data will remain in India, with no access or rights granted to Shein, as confirmed by industry sources.

Shein India’s fast fashion app from Reliance Retail has already gained over 10,000 downloads on the Google Play Store and is ranked among the top 10 in its category on Apple's App Store. Reliance Retail is now collaborating with Shein to develop a localized model that digitizes the supply chain of Indian MSMEs and factories, boosting job creation and strengthening India's textile sector on a global scale. Additionally, Nextgen is expanding its network of Indian manufacturers to position India as a key supplier for Shein’s global operations, opening up significant export opportunities for Indian MSME garment manufacturers.

Shein was among the apps banned by the Ministry of Electronics and Information Technology in June 2020 following tensions with China. In 2023, nearly three years after the ban, Shein entered into a partnership with Reliance Retail, led by Isha Ambani, daughter of billionaire Mukesh Ambani. Reliance Retail Ventures Ltd (RRVL), through its subsidiary Reliance Retail Ltd (RRL), signed a technology agreement with Roadget Business Pte Ltd, which owns Shein, to develop an indigenous e-commerce retail platform.

In December last year, the Indian government informed the Lok Sabha that while Shein's app remained blocked, the sale of its branded products was not prohibited. Commerce & Industry Minister Piyush Goyal stated in a written response that the platform was designed to establish a network of local manufacturers and suppliers producing Shein-branded products for both domestic and international markets.

The Ministry of Textiles, after consulting with the Ministry of Electronics and Information Technology (MeitY) and the Ministry of Home Affairs, conveyed no objection to Reliance Retail’s proposal.

"The licence agreement covered the protection that ownership and control of the platform will always remain with RRVL through its wholly owned subsidiary. As per the agreement, at all times, the platform will be hosted on infrastructure in India and all platform data will remain in India with Shein having no access to, or rights over, such data," Goyal stated.

The agreement also mandates compliance with Indian laws, including infrastructure localization and data security measures. Shein, founded in 2008, gained popularity for its affordable and trendy apparel, particularly among millennials. It was banned along with 59 other apps in 2020, citing concerns over national sovereignty and security. However, Shein products remained available through e-commerce platforms such as Amazon, and related legal matters were raised in the Delhi High Court.

 

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VERO MODA Sets a New Benchmark in Retail with Its Redesigned Store at Palladium Mall
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VERO MODA Sets a New Benchmark in Retail with Its Redesigned Store at Palladium Mall
 

VERO MODA, a leading western wear fashion brand in India, has revamped its store at Palladium Mall, Mumbai, redefining the shopping experience with a fresh, innovative design. Spanning 2,275 sq. ft., the store seamlessly blends aesthetics, functionality, and interactivity, elevating the retail journey for customers.

The redesigned space features a dynamic LED screen at the entrance, displaying brand stories and product highlights to engage shoppers from the moment they step in. Warm, textured corrugated walls, clay-finished display tables, and sleek stainless-steel matte finishes create a refined, contemporary look. Thoughtfully curated displays and distinctive design elements enhance the store’s premium appeal, encouraging exploration and interaction.

Sustainability is at the core of the new design, with the integration of eco-friendly materials such as clay finishes and energy-efficient LED lighting. A modular layout ensures future adaptability, while the use of low-maintenance materials supports long-term sustainability, making the store both innovative and environmentally conscious.

The revamped VERO MODA store reflects the brand’s commitment to innovation, sustainability, and an enhanced retail experience, setting a new benchmark for premium shopping destinations.

 

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PepsiCo’s Indian Market Expansion Drives Revenue Growth in 2024
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PepsiCo’s Indian Market Expansion Drives Revenue Growth in 2024
 

PepsiCo has reported strong double-digit organic revenue growth in India for 2024, gaining market share in both savory snacks and beverages, according to the company’s fourth-quarter earnings statement. For the full year ending December 28, 2024, PepsiCo's net revenue stood at USD 91.8 billion, reflecting a 0.41 per cent increase, while the fourth-quarter revenue was  $27.78 billion, up 0.2 percent.

Ramon Laguarta, Chairman and CEO, PepsiCo, highlighted, "Our businesses remained resilient in 2024, despite subdued category performance trends in North America, the continued impacts related to a recall in our Quaker Foods North America division and business disruptions due to geopolitical tensions in certain international markets."

In the Africa, Middle East, and South Asia (AMESA) division, which includes India, PepsiCo's net revenue grew by 1.27 percent to  $6.21 billion for the year, driven by effective pricing strategies and organic volume growth. The company reported a 2 percent increase in convenience food unit volume, supported by mid-single-digit growth in South Africa and double-digit growth in India. Beverage unit volume also rose by 1 percent, largely due to strong double-digit growth in the Indian market. For the fourth quarter, the AMESA division recorded USD 2.03 billion in net revenue, marking a 5 percent increase. 

PepsiCo management shared, stating, "We expect to deliver low-single-digit organic revenue growth." The company anticipates varied consumer preferences across channels, income segments, and regions. "Our business plans assume that consumer preferences and habits will continue to vary by channel, income cohort and geography. Our commercial plans and go-to-market systems will focus on more precise execution with an adaptive and agile mindset."

PepsiCo also acknowledged ongoing geopolitical uncertainties and foreign exchange volatility, noting that these factors are expected to persist in 2025.

 

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Ardent Alcobev Introduces Dram Bell Scotch Whisky in India
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Ardent Alcobev Introduces Dram Bell Scotch Whisky in India
 

Ardent Alcobev has launched Dram Bell, a luxury Blended Scotch Whisky, at an exclusive event at Imara – Turf Club in Mumbai. The launch was hosted by former England cricket captain and marquee investor Kevin Pietersen, alongside the company’s co-founders.
Dram Bell, bottled in Scotland, is available in two variants: the Premium variant priced at Rs. 1,750 and the Reserve variant at Rs. 2,450.

Kevin Pietersen emphasized his personal connection to the brand and its philosophy. “My investment in Ardent Alcobev is more than just a business decision; it's a reflection of my values. Throughout my career, whether on the cricket pitch or in other areas of life, I've always valued dedication, quality, and the pursuit of perfection. Ardent upholds this same commitment while making, which is visible in every part of Dram Bell. We also encourage drinking responsibly, for enjoyment, and not for excessive consumption, so that everyone can savour and enjoy the experience in moderation.”

The event featured an exclusive Whisky Masterclass conducted by Iain Forteath, Master Blender at Ardent Alcobev. Attendees had the opportunity to sample different expressions of Dram Bell and gain insights into the art of whisky blending and tasting.

Debashish Shyam, Co-Founder and Director of Ardent Alcobev said, “We are redefining India’s premium whisky market with a blend that showcases unmatched quality and craftsmanship. With Kevin Pietersen as a strategic partner, we raise the brand's profile by bridging the gap between international acclaim and preference of Indian market. This approach caters to the discerning tastes of IMFL drinkers who seek sophistication without compromising on their taste. We are confident that it will appeal to whisky connoisseurs as we merge global standards with local tastes to shape the future of Indian whisky, catering to the evolving preferences of IMFL drinkers.”

Dram Bell has been introduced in Maharashtra from November 2024 and will be available at select retail and on-trade stores. The company plans to expand its distribution to key markets in North and South India in the coming months.

 

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Union Budget 2025: Strengthening Retail and Infrastructure Growth in India
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Union Budget 2025: Strengthening Retail and Infrastructure Growth in India
 

The Union Budget 2025 focuses on economic expansion through Global Capability Centres (GCCs) and Public-Private Partnerships (PPPs), two key strategies aimed at enhancing India's infrastructure and export potential. By supporting the growth of knowledge-driven industries and large-scale infrastructure projects, the budget aims to strengthen India's retail and business landscape.

India has long been a hub for outsourcing, but the expansion of GCCs is expected to elevate its position in high-value industries. The Union Budget 2025 introduces a national framework to promote GCCs, particularly in Tier-II cities, to encourage regional economic development and attract multinational companies.

This budget demonstrates the government's proactive approach towards economic decentralization, with a special focus on promoting the development of GCCs in emerging Tier-II cities. This forward-thinking initiative not only nurtures regional growth but also opens doors for talent acquisition, industry partnerships, and innovation. The creation of a dedicated fund for urban development will reshape our cities, providing the infrastructure and workforce required to attract national and international companies,” said Harinder Singh Hora, Founder Chairman of Reach Group.

By prioritizing Tier-II cities, the initiative is expected to enhance local job opportunities and create industry-specific infrastructure, supporting long-term economic development.

The budget reinforces the role of PPPs in India's infrastructure sector, focusing on transportation, logistics, and urban development. The emphasis on these partnerships aims to bridge infrastructure gaps while attracting private sector investments.

Uddhav Poddar, CMD of Bhumika Group said, “The government's emphasis on infrastructure development and economic prudence sets the stage for sustained real estate growth. A key highlight is the focus on enhancing the role of Public-Private Partnerships (PPP) in India's infrastructure development, which will boost the country's commercial projects while ensuring long-term progress.

Gaurav Gulati, Managing Director of CCPL added, “The Union Budget 2025 has empowered the country with a special urban development fund, asset monetization, and public-private partnerships. With each infrastructure ministry set to propose three PPP projects, alongside ₹1.5 lakh crore in interest-free loans for capital expenditure, we anticipate significant opportunities in retail developments, further strengthening the commercial real estate sector.

Increased funding and incentives for PPP projects are expected to attract private investment and accelerate infrastructure development, particularly in commercial real estate and retail hubs.

The integration of GCCs and PPPs has the potential to drive economic growth by aligning infrastructure improvements with knowledge-driven industries. The expansion of smart cities, advanced logistics, and enhanced transportation will create an ecosystem that supports GCCs and boosts India's export potential.

Sanchit Bhutani, Managing Director of Group 108 said, “We welcome the government’s efforts to strengthen India’s economic growth and urban infrastructure sector. While the rebate of income tax up to Rs 12 lakh will provide greater relief to middle-class buyers, the fund for urban development will help elevate India's cities to new heights of growth, sustainability, and modernity. In addition, the national framework for promoting GCCs will guide states in building the right infrastructure. This will further help in creating better talent and implementing reforms that will enable cities to become attractive hubs for multinational companies.

The synergy between infrastructure development and the expansion of GCCs is expected to enhance India's role in industries such as technology, manufacturing, and research, further solidifying its position in global trade.

With infrastructure and economic development at the forefront, the real estate sector is set to benefit from increased demand for commercial spaces. The push for regional growth and retail expansion aligns with the broader economic strategy outlined in the budget.

Budget 2025 lays a comprehensive roadmap for economic expansion, with a clear focus on strengthening domestic manufacturing and enhancing India's integration into global supply chains. The government's support for the electronics industry and advancements in automation, AI, and digital technologies will create a demand for specialized commercial real estate in emerging sectors,” said Umesh Bhati, Director of Operations at Bayside Corporations.

As both GCCs and PPPs require well-developed infrastructure, the need for commercial real estate, logistics parks, and office spaces will rise, creating opportunities for investment and economic growth.

The Union Budget 2025 sets a framework for economic expansion through a combination of public-private collaborations and the growth of knowledge-based industries. By focusing on infrastructure development, talent acquisition, and international trade, India is positioning itself as a leader in sustainable economic growth and global business. The alignment of GCCs and PPPs will play a crucial role in shaping the country’s retail and commercial sectors, ensuring long-term development and competitiveness in the global economy.

 

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Skoodle Expands Sustainable Stationery Efforts in India
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Skoodle Expands Sustainable Stationery Efforts in India
 

Skoodle, the flagship brand of Stone Sapphire India Pvt. Ltd. (SSIPL), is strengthening its retail presence in India by increasing the production of eco-friendly recycled paper pencils. The initiative aligns with the brand’s focus on sustainability and aims to reduce the environmental impact of traditional pencil manufacturing.  

In India, producing 9,500 wooden pencils results in the loss of one tree. Skoodle manufactures 720 million wood-free pencils annually, saving an estimated 3,000 trees each year, a practice the company has maintained for six years. A complete shift to recycled paper rolled pencils could further triple this impact, contributing to larger environmental conservation efforts.  

Shobhit Singh, MD and CEO of Stone Sapphire India Pvt Ltd said, “Our commitment to sustainability goes beyond business—it’s a responsibility we embrace wholeheartedly. By introducing recycled paper pencils, we aim to create a lasting positive impact on the environment. This initiative symbolizes the power of small changes that inspire a larger movement. Our vision is for India to lead in sustainability, starting with actionable steps like Skoodle eco-conscious practices.”  

Since 2018, Skoodle’s efforts have contributed to saving 13 acres of forest land annually. The brand focuses on addressing deforestation, carbon emissions, and waste management, encouraging businesses, educational institutions, and individuals to adopt more sustainable practices.  

With an emphasis on innovation and environmental responsibility, Skoodle continues to expand its presence in India’s retail sector, offering sustainable alternatives in the stationery industry.  

 

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Samsung BKC Marks Galaxy S25 Series Launch with Early Deliveries and One-Year Anniversary
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Samsung BKC Marks Galaxy S25 Series Launch with Early Deliveries and One-Year Anniversary
 

Samsung’s flagship store at Bandra Kurla Complex (BKC) in India hosted a special event to mark the early delivery of the Galaxy S25 series, handing over more than 700 devices to pre-order customers. This milestone follows strong demand for the new smartphone series, reinforcing Samsung’s presence in India’s retail market.  

Soon Choi, Corporate EVP/Head of Division, MX Division, Samsung Electronics, was present at the event and personally handed over some of the Galaxy S25 devices to customers. The event also coincided with the one-year anniversary of the BKC store, which serves as a key retail location for Samsung’s premium product lineup.  

To accommodate the large number of customers, the store introduced dedicated data transfer zones and device exchange counters. Additional services, including smartphone case customization using Gen-AI, dedicated tech support, and a Celebration Programme, were also available for customers picking up their new devices.  

The Galaxy S25 series includes the Galaxy S25 Ultra, Galaxy S25+, and Galaxy S25 smartphones. The series features AI-driven enhancements, a customized Snapdragon® 8 Elite Mobile Platform for Galaxy, and the next-generation ProVisual Engine for improved camera functionality. It also runs on One UI 7, Samsung’s AI-first platform designed for personalized user experiences.  

Security features include Knox Vault for data protection and post-quantum cryptography to address evolving cybersecurity risks. With the Galaxy S25 series launch, Samsung continues to strengthen its retail presence in India while advancing AI integration in smartphones.

 

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Ace Turtle Opens Two New Lee and Wrangler Stores in Jodhpur
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Ace Turtle Opens Two New Lee and Wrangler Stores in Jodhpur
 

Ace Turtle, the exclusive licensee of denim brands Lee and Wrangler in India, has opened two new exclusive brand outlets (EBOs) in Jodhpur, Rajasthan. This strategic expansion aligns with Ace Turtle’s commitment to strengthening the presence of Lee and Wrangler in upcoming markets across India, catering to the growing demand for premium denim and casual wear.

The stores are spread across 2,500 sq ft and are located in the high street area of Residency Road in Jodhpur. With these store launches, Lee and Wrangler will continue their retail expansion in 2025, tapping into the fashion-forward yet underserved markets in emerging cities. Jodhpur, known for its rich heritage and evolving urban lifestyle, presents a promising opportunity for the brands to connect with a new wave of consumers seeking high-quality and stylish apparel.

The new stores in Jodhpur showcase Lee and Wrangler’s latest collections, featuring a wide range of denim, casual wear, and accessories designed for the modern Indian consumer. With a focus on innovation, comfort, and sustainability, the brands continue to redefine denim fashion in India.

Ace Turtle remains committed to its omnichannel approach, ensuring seamless integration of offline and online retail experiences. The company’s expansion into Tier II and III cities underscores its vision of making premium fashion more accessible across India, with further store openings planned in the coming months.

Commenting on the expansion, Nitin Chhabra, CEO of Ace Turtle said, “The launch of Lee and Wrangler stores in Jodhpur is a significant step in our journey to make these iconic global brands more accessible to consumers beyond metro cities. The demand for premium denim and lifestyle fashion in Jodhpur is witnessing remarkable growth, and our expansion strategy is focused on tapping into this potential. With these two new stores, we now have four Lee and Wrangler stores in the city. We are confident that our stores in Jodhpur will offer an enhanced shopping experience while bringing the global legacy of Lee and Wrangler closer to consumers.”

 

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Retail India News: Brigade Hotel Ventures Receives SEBI Approval for Rs 900 Cr IPO
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Retail India News: Brigade Hotel Ventures Receives SEBI Approval for Rs 900 Cr IPO
 

Brigade Hotel Ventures Limited, the second-largest owner of chain-affiliated hotels and rooms in South India among major private hotel asset owners, has received approval from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO).

The IPO will consist of a fresh issue of equity shares with a face value of Rs. 10 each, amounting to Rs. 900 crore.

Brigade Hotel Ventures Limited owns and develops hotels in key Indian cities, primarily across South India. As of June 30, 2024, the company is the second-largest private owner of chain-affiliated hotels and rooms in the region, covering Kerala, Andhra Pradesh, Tamil Nadu, Karnataka, Telangana, and the Union territories of Lakshadweep, Andaman and Nicobar Islands, and Pondicherry, among private hotel asset owners with at least 500 rooms across India.

A wholly-owned subsidiary of Brigade Enterprises Limited (BEL), one of India’s leading real estate developers, Brigade Hotel Ventures Limited entered the hospitality sector in 2004 with the development of Grand Mercure Bangalore, which began operations in 2009. Today, the company operates a portfolio of nine hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka), and GIFT City (Gujarat), offering a total of 1,604 keys.

These hotels are managed by renowned global hospitality brands, including Marriott, Accor, and InterContinental Hotels Group. They cater to the upper upscale, upscale, upper-midscale, and midscale segments, offering a comprehensive guest experience with fine dining and specialty restaurants, meeting and conference venues (MICE), lounges, swimming pools, outdoor spaces, spas, and gymnasiums. Strategically positioned in high-density population areas, premium neighborhoods, commercial centers, and IT hubs, these properties are designed to maximize customer convenience and business potential.

JM Financial Limited and ICICI Securities Limited have been appointed as the Book Running Lead Managers for the IPO.

 

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DOMS Industries Reports Strong Q3FY25 Growth with 34.9 Pc Revenue Surge
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DOMS Industries Reports Strong Q3FY25 Growth with 34.9 Pc Revenue Surge
 

DOMS Industries Limited (DOMS), a company specializing in manufacturing and marketing a diverse range of products catering to kids, children, and young adults, has announced its financial results for Q3 and the first nine months of FY2025. The company reported a significant growth trajectory despite market challenges.

For Q3FY25, DOMS recorded a 34.9 percent year-on-year increase in revenue from operations, reaching Rs. 501.1 crore compared to Rs. 371.6 crore in Q3FY24. EBITDA for the quarter stood at Rs. 87.9 crore, reflecting a 26.7 percent rise from Rs. 69.3 crore in the same period last year, with an EBITDA margin of 17.5 percent. PAT saw an impressive growth of 39.8 percent, reaching Rs. 54.3 crore compared to Rs. 38.8 crore in Q3FY24, while PAT's margin improved to 10.8 percent.

The nine-month performance for FY25 demonstrated a 23.9 percent increase in revenue, totaling Rs. 1,403.9 crore compared to Rs. 1,133.4 crore in the corresponding period of FY24. EBITDA surged by 32.2 percent to Rs. 260.2 crore, with the EBITDA margin improving to 18.5 percent. PAT for the period rose by 43.9 percent to Rs. 162.3 crore, with PAT margin standing at 11.6 percent.

DOMS also highlighted key operational achievements during the quarter. The company was recognized with the Top Exporter Award for the third consecutive year by the Pen & Stationery Association of India, reinforcing its leadership in the Indian export market. To enhance employee engagement and retention, DOMS approved the grant of 117,045 stock options under the Employee Stock Option Plan 2023. Sustainability efforts saw progress with the successful installation of a 1 MW solar plant at the Umergaon manufacturing facility. Additionally, the company's 44+ acre greenfield expansion remains on track, with the first building for machinery installation expected in Q3FY26.

The acquisition of Uniclan Healthcare has further bolstered growth initiatives. The commercial launch of DOMS Wowper, a co-branded diaper range, along with the installation of a third diaper production line, has expanded production capacity to 65 crore diapers annually. The company has also secured most of the necessary pre-approvals for in-house manufacturing of wet wipes, expected to commence by the end of Q4FY25. In the fine arts sector, DOMS' premium brand AMARIZ partnered with the Plaza Artist Association at the Art Plaza Gallery, Kala Ghoda, Mumbai, to support emerging artists.

Santosh Raveshia, Managing Director, DOMS Industries Limited said, “Despite the tepid market conditions and festive season in India as well as globally, we continued on our consistent growth trajectory during Q3’FY 2025. Our strategic initiatives have played a pivotal role in fuelling this growth. The successful acquisition of Uniclan Healthcare, which led to our entry into Baby Hygiene products, coupled with our timely expansion of capacities across various product categories, have all contributed positively to our quarterly performance. The company's manufacturing cost structure broadly remained stable in Q3 FY'25, with input prices holding steady, resulting in consistent gross margins on a sequential basis. Consolidated EBITDA for the quarter grew 26.7 percent Y-o-Y and 2.2 percent sequentially. However, there was a slight margin compression of approximately 120 bps Q-o-Q which was primarily driven by increased employee expenses, stemming from additional hiring to support production capacity expansion and the impact of ESOP grants to reward employees. Furthermore, we witnessed an increase in selling and distribution expenses primarily on account of consolidation of Uniclan Healthcare. As a result of these factors, the Company's consolidated EBITDA margin stood at 17.5 percent, as on expected lines, but higher than our targeted range of 16-17 percent.” 

Santosh further added, Going forward, we remain cautiously optimistic in the near term, on improvement in demand conditions with tailwinds from the upcoming back-to-school season, growing emphasis on education and increased Governments’ spending in this sector, contributing to the growth momentum. Our strategic priorities remain unchanged with a focus on delivering consistent and profitable volume growth through expanding our production capacities, investing in our brands, and strengthening our supply chain, positioning ourselves for sustainable long-term growth.”

DOMS Industries Limited ("DOMS" or "the Company") is a leading player in India's stationery and art supplies sector. The company specializes in designing, developing, manufacturing, and distributing a diverse range of high-quality stationery and art products. Its portfolio is categorized into various segments, including Scholastic Stationery, Scholastic Art Material, Paper Stationery, Kits and Combos, Office Supplies, Hobby and Craft, and Fine Art Products.

 

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Retail India News: Tata Chemicals Sees 4 Pc Revenue Dip in Q3FY25, Focuses on Long-Term Stability
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Retail India News: Tata Chemicals Sees 4 Pc Revenue Dip in Q3FY25, Focuses on Long-Term Stability
 

Tata Chemicals Limited has released its financial results for the third quarter and nine months ending December 31, 2024.

On a consolidated basis, the company reported revenue from operations of Rs. 3,590 crore for Q3FY25, compared to Rs. 3,730 crore in Q3FY24. EBITDA stood at Rs. 434 crore, down from Rs. 542 crore in the corresponding quarter of the previous year. Profit After Tax (PAT) before exceptional items and non-controlling interest (NCI) from continuing operations was Rs. 49 crore, a decline from Rs. 194 crore in Q3FY24.

On a standalone basis, the company recorded revenue from operations of Rs. 1,166 crore, up from Rs. 1,093 crore in Q3FY24. EBITDA stood at Rs. 209 crore, showing a slight increase from Rs. 206 crore in Q3FY24, while PAT was Rs. 72 crore, lower than Rs. 115 crore in the same period last year.

R. Mukundan, Managing Director & CEO, Tata Chemicals Limited said, “Overall Asia including India continues to experience growth, while other markets including the US and Western Europe are witnessing slight decline due to reduced demand for flat and container glass. The company’s overall performance was down as compared to the same quarter of the previous year, mainly due to lower Soda Ash pricing across geographies and higher fixed costs in the US due to plant production outage during the quarter. Our endeavor is to maximize sales through customer engagement while ensuring steady contribution margins with a focus on cost optimization. In the short term, the current demand-supply adverse situation is likely to persist but should improve and stabilize over the long term driven by growth sectors based on sustainability trends.”

Tata Chemicals' consolidated revenue stood at Rs. 3,590 crore, reflecting a 4 percent decline from Q3FY24 due to unfavorable Soda Ash price movements. EBITDA for the quarter was Rs. 434 crore, marking a 20 percent decrease from the previous year. PAT (before exceptional items and NCI) from continuing operations was Rs.49 crore, down from Rs. 194 crore. The company incurred an exceptional charge of Rs. 70 crore related to employee termination benefits, decommissioning of plant and machinery, and other closure-related expenses following the cessation of Soda Ash production at the Lostock plant in Northwich, UK. As of December 31, 2024, gross debt was Rs. 6,722 crore, an increase of Rs. 810 crore, while net debt stood at Rs. 5,329 crore, up by Rs. 952 crore compared to December 31, 2023, due to lower EBITDA and higher working capital requirements across the US, Kenya, and India. The company also commissioned a 70 KTPA Pharma Salt plant in the UK, with higher sales and production volumes of Soda Ash, Bicarb, and Salt compared to Q3FY24.

On a standalone basis, Tata Chemicals' revenue from operations reached Rs. 1,166 crore, marking a 7 percent increase from Q3FY24. EBITDA stood at Rs. 209 crore, reflecting a 1 percent rise, while PAT from continuing operations stood at Rs. 72 crore, showing a 37 percent decline from Q3FY24. The company also confirmed that FOS sales remain on track, leading to full capacity utilization.

 

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Retail India News: French Fashion Label Maje Lands in India, Blending Parisian Style with Modern Trends
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Retail India News: French Fashion Label Maje Lands in India, Blending Parisian Style with Modern Trends
 

Parisian fashion house Maje, known for its effortlessly chic and contemporary designs, has officially entered the Indian market with the launch of its first flagship store in Mumbai's Jio World Drive. This milestone marks the beginning of an exciting partnership between Maje and Reliance Brands Limited (RBL), bringing the brand’s signature blend of accessible luxury and bold creativity to India.

Founded in 1998 by Judith Milgrom, Maje has built a strong reputation for its versatile, sensual, and modern Parisian aesthetic, catering to women who seek style that seamlessly transitions between day and night. The brand's arrival in India offers fashion enthusiasts a curated opportunity to experience the finest of French fashion, blending elegance with contemporary trends.

Milgrom, deeply influenced by her Moroccan roots and Parisian upbringing, has always envisioned Maje as a brand that allows women to live multiple lives in a single day. Her personal touch is reflected even in the brand’s name, which symbolizes sibling unity—M for Moyal (her maiden name), A for Alain (her brother and co-founder), J for Judith (her first name), and E for Evelyne (her sister with whom she worked for over a decade).

“We are incredibly excited to introduce Maje to the vibrant and diverse Indian market. India’s rich cultural heritage, coupled with its dynamic blend of tradition and modernity, is truly inspiring. This store represents our opportunity to connect with the Indian audience, where fashion is not just a style statement but a way to express individuality. We look forward to celebrating the spirit of India and offering women here the Maje experience,shared Judith Milgrom, Founder, Maje.

Maje’s flagship store in Mumbai reflects the brand’s signature store architecture, offering a personal and inviting space that feels almost like a second home. Designed to be more than just a retail outlet, it serves as a showcase for Maje’s ready-to-wear collections and accessories, embodying the brand’s bold and offbeat spirit.

To celebrate the grand opening, the Maje flagship store will feature an exclusive selection of the brand’s most iconic pieces, including highlights from the Spring-Summer 2025 collection, “Glam Office – From Paris to Milan." This collection redefines modern women’s wardrobes with a touch of Italian elegance, featuring structured tailoring, fluid dresses, and sophisticated silhouettes, perfect for transitioning seamlessly from office wear to evening ensembles.

With this debut, Maje is set to make a lasting impact in India’s dynamic fashion landscape, offering a unique blend of Parisian elegance and contemporary versatility to fashion-forward women across the country.

 

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