Jul 24, 2024 | Uncategorized
A first of its kind, MountTech Growth Fund or MGF-Kavachh by former Defence Secretary Dr. Ajay Kumar, along with three co-founders, is specifically tailored to nurture startups that drive advancements in deep-tech and strategic sectors, ensuring the indigenization of critical technologies, products, and services essential for India’s national security and technological leadership.
Dr. Kumar, who has been instrumental in steering many of India’s technology and defence related policy reforms, now spearheads MGF-Kavachh as its Founder and Chairman.
“India stands at a pivotal moment, with an unparalleled opportunity to leverage its strengths amid evolving global dynamics. MGF-Kavachh aims to catalyze this growth by focusing on local innovation and the indigenization of critical technologies in areas of national importance. MGF-Kavachh will nurture promising start-ups working at the intersection of innovation, space, aerospace, deep technology, and India’s ‘Atmanirbhar’ agenda while solving for its strategic needs across sectors like National Security, Defence and Aerospace, Digital Communications,” stated Dr. Kumar.
Since receiving SEBI approval in January 2024, MGF-Kavachh has swiftly garnered commitments surpassing its planned corpus size of ₹250 crores. The fund has declared its first close at over 100% of its targetted corpus reflecting the strong confidence and interest from investors and institutions in the thesis as well as the MGF-Kavachh team. It will now be using its green-shoe option of another ₹250 crores before its final closure.
An exceptional team backs the fund, with Air Chief Marshal RKS Bhadauria (Rtd.) and Vice Admiral SN Ghormade (Rtd.), and Lt. General Dr Anil Kapoor on the Strategy and Oversight Board, among other notable names. The Advisory Council comprises of eminent experts and professionals who passionately share MGF-Kavachh’s vision of “Stronger India Safer World” and includes Smita Purshottam, IFS (Rtd.), Ex Indian Ambassador to Switzerland and Venezuela and Founder of SITARA; Gani Subramaniam, Founding and Managing Partner Yali Capital; Dr. Manan Suri, Prof. IIT Delhi; Binay Kumar Singh, IPS (Rtd.), Ex DGP Chhattisgarh, Ex Intelligence Bureau Veteran; Ravi Singh, a versatile and respected deep tech Investor, Arvind Lakshmikumar, deep tech entrepreneur and founder Tonbo Imaging; Dr. Vinod Agarwal, a renowned semi-conductor expert, tech investor and serial entrepreneur from the Silicon Valley, Dr. Pratyush Kumar – Tech Investor, and Former Head – Boeing South Asia and Vish Sahasranamam – Co-founder of Forge Innovation and Ventures – a leading private incubator of India.
Former senior telecom industry executive Mr. Raj Sethia is a co-founder and Managing Partner and leads a small but exceptional team of professionals. He brings with him a deep understanding of business , finance and technology, a rare combination.
The fund’s focus on IP and technology-driven businesses aims to transform India into a hub of strategic and technological excellence in the space, aerospace, and deep-tech sectors.
“The Fund’s strategy is built on four pillars: rigorous gatekeeping, robust portfolio construction, a unique acceleration platform for its investees, and a razor-sharp execution focus,” expressed Raj Sethia, Founder and Managing Partner at Kavachh.
“Self-reliance in strategic sectors is an existential need for the country and a lucrative opportunity for investors,” shared Suryakant Dalmia, Co-Founder at MGF-Kavachh.
“MGF-Kavachh, with its focus, credibility, and platform, will be the first port-of-call for founders, co-investors, institutions, and eco-system players,”, shared Abhinav Munshi, Co-Founder at Kavachh.
Jul 24, 2024 | Uncategorized
L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a leading global digital engineering and R&D company, today announced the launch of the third annual Digital Engineering Awards, in association with Information Services Group (ISG), a leading global technology research and advisory firm, and business news channel CNBC TV18 in India.
The Digital Engineering Awards recognize and celebrate global engineering excellence and innovation. Nominations are open to all product companies, manufacturers, and OEMs worldwide.
Enterprises and their service providers are invited to submit nominations through September 23, 2024. Winners will be announced during a gala awards celebration on December 7, 2024, in Dallas, Texas, U.S.A.
The latest edition of the Digital Engineering Awards aims to build on the success of the program to date, including that of the 2023 program, which attracted 200-plus nominations from more than 100 leading organizations from the around the world. Winners over the last two years include such blue-chip names as AT&T, BMW Group, Caterpillar Inc., Chevron, Delta Airlines, ExxonMobil, GE Healthcare, Honeywell and Microsoft, among others.
For the 2024 program, enterprise award winners will be selected by a global panel of industry experts—including representatives from ISG—in 11 categories, comprising six team awards and five individual awards.
This year’s awards are divided into two segments—Engineering The Change and Engineer At Heart—and spread across the 11 categories. Reflecting the recent dynamic shifts in technology and AI adoption, two new awards have been created: AI Champion (Innovator) of the Year and AI Impact of the Year.
The Awards will be presented at the December 7 gala ceremony in the following categories:
Engineering the Change Team Awards
- Digital Transformation of the Year
- Top Sustainability Initiative
- Digital Engineering Project/Program of the Year
- Engineering Product of the Year
- Excellence in Value Realization
- AI Impact of the Year
Engineer at Heart Individual Awards
- The Distinguished Digital Engineering Leader
- The Digital Engineer of the Year
- The Woman Engineer of the Year
- The Innovator of the Year
- AI Innovator of the Year
Click here to submit your nominations
https://www.digitalengineeringawards.com/
Jul 24, 2024 | Uncategorized
Aurionpro Solutions Limited (BSE: 532668) (NSE: AURIONPRO) today, announced its audited financial results for the quarter ended June 30, 2024. With a stellar first quarter performance, the company is poised for a strong growth year ahead.
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Consolidated Financial Performance for Q1FY25 v/s Q1FY24
· Revenue: Rs. 262 crore v/s. Rs. 199 crore [á 32%]
· EBITDA: Rs. 56 crore v/s. Rs. 44 crore [á 27%]
· PAT: Rs. 45 crore v/s. Rs. 32 crore [á 41%]
Consolidated Financial Performance for Q1FY25 v/s Q4FY24
· Revenue: Rs. 262 crore v/s. Rs. 247 crore [á 6%]
· EBITDA: Rs. 56 crore v/s. Rs. 53 crore [á6%]
· PAT: Rs. 45 crore v/s. Rs. 39 crore [á13%] |
*All numbers have been rounded off
Results Highlights:
- Revenue for the quarter stood at Rs. 262 Cr, a significant increase of 32% YoY basis and 6% QoQ basis
- EBITDA for Q1FY25 stood at Rs. 56 Cr as compared to INR 44 Cr in Q1FY24, a growth of 27% on a YoY basis and 6% on a QoQ basis. EBITDA margins for the quarter stood at 21.22%
- PAT for Q1FY25 stood at Rs. 45 Cr, which is a growth of 41% YoY basis and 13% QoQ basis.
PAT margins for the quarter stood at 17%
Operational Highlights:
Banking & Fintech
- Integro Technologies, secured a new order from the largest bank in Myanmar for the license and implementation of SME lending operations.
- Aurionpro Payment Solutions Private Limited (Aurionpro Payments), a subsidiary of Aurionpro, received final authorization from the Reserve Bank of India to operate as an Online Payment Aggregator, through its payments brand “AuroPay”
- Aurionpro signed deals for installation and implementation of co-engineered IP (Portal) for two international clients in Vietnam
- One of the largest Islamic banks in Malaysia selected Integro SmartLender Commercial LOS for its Corporate customers, signing as multiyear contract with Integro Technologies.
Technology Innovation Group
- Aurionpro Transit, a subsidiary of Aurionpro, facilitated the integration of its app-based and ORS ticketing solution with Google Wallet
- Fime, a leading provider of consulting and testing services for payment systems and Aurionpro Transit, an Aurionpro subsidiary and a global leader in transit ticketing solutions, announced strategic collaboration to explore opportunities in the field of transit ticketing, payments, and fare collection projects worldwide
- Aurionpro wins significant deals in Data Centre segment, which includes multiple implementation orders with Webwerks and an order with one of the largest financial and e-governance service provider in India
Management Commentary
Mr. Ashish Rai, Vice-Chairman & CEO commented:
We are pleased to report Q1 results which underline the continued growth momentum in the business and reinforce our confidence in the longer-term strategy for each of our segments. We continue to maintain a high growth trajectory for 16th consecutive quarter, beginning this year on a strong note. Group revenue for Q1 grew by 32% and PAT by 41% respectively. Our businesses continue to get stronger relative to peers in the market and we continue to see broad-based and sustainable growth across our chosen sectors. It gives us great pride to see that our customer base continues to expand meaningfully and now exceeds 300 clients. This growth is driven by significant expansion in demand for our offerings as well as our expanding sales channels and strategic partnerships with large global technology players. Our continued large wins, especially on the global stage keep enhancing our position as a competitive, world-class partner of choice with cutting edge, top-tier solutions and highly mature delivery capability.
The last quarter was particularly eventful in terms of successful execution across three important, long term strategic initiatives. We successfully raised additional capital, and it was particularly gratifying to welcome prominent global and Indian institutions to come and join our mission to build a global products and platforms player rooted in India. We also concluded the acquisition of Arya.ai, which is a significant part of our strategy to create a Global Enterprise AI player sharply focused on creating next generation AI offerings for Banks and Insurers globally. We were also pleased to receive final authorization from the Reserve Bank of India (RBI) for our online payment aggregator business. This approval will significantly enhance our capabilities and improve business economics in our chosen payment segments. It is not common in our industry to execute with precision on such diverse and significant strategic initiatives and it gives us great confidence in the depth and quality of the talent that we have built up and a culture of disciplined execution that makes Aurionpro stand out in the industry today.
Our key businesses continue to demonstrate strong momentum. We have maintained our sales momentum in banking and continue to execute on a very significant pipeline across Asia, India and US. The Technology Innovation Group continues to see orderbook and pipeline momentum driven by significant client spend especially in smart transit and data center spaces. We remain deeply grateful to our shareholders for their steadfast support in this journey. In appreciation, we are pleased to issue bonus shares which we hope will provide enhanced value for investors in Aurionpro. With our strong performance in Q1 and a positive outlook for the upcoming quarters, we feel we are well placed to deliver on our growth guidance of 30-35% for the full year.
Jul 24, 2024 | Uncategorized
Mr. Rajesh Aggarwal, Managing Director of Insecticides (India) Limited, has been appointed as the new President of the Rotary Club Delhi Imperial. Aggarwal brings his unique approach to leadership, focusing on dedication and passion in his work, and is set to take the club to new heights.
Aggarwal stated, “I find joy in my work and pursue what brings me happiness. Serving the club as a leader is an opportunity where I must give my best. I thrive under pressure because it channels my energy positively. I look forward to your continued support during my Rotary year and promise to elevate the club to new heights. This wouldn’t be possible without the guidance and support of senior members and past presidents. I consider this a once-in-a-lifetime chance to lead our esteemed club.”
Aggarwal’s vision for the Rotary Club Delhi Imperial includes an emphasis on increasing the number of social activities to foster fellowship among members. He aims to integrate the club’s operations with the district portal, enhancing digital connectivity. Additionally, he plans to introduce a new club dossier, providing a concise monthly report on activities to keep members informed and engaged. The club’s website will also be linked with the district’s platform for better accessibility and communication. Rotary Imperial, proud to be a 100% PHF club, proposes transitioning to EREY, with each member contributing every year to Rotary International.
Aggarwal announced a significant contribution to the club’s CSR initiatives. He proposed a $25,000 contribution from Insecticides (India) Limited to Rotary International for a Medical Centre and Pathology lab in Delhi. The district has committed to a similar grant, and Aggarwal encourages club members to contribute to this cause.
Furthermore, Aggarwal introduced the Atmanirbhar Scheme, aiming to donate 100 limbs. He urged members to contribute, with the district organizing a matching grant through CSR funds. All contributions will go to Rotary International. He stressed the importance of generous contributions to this initiative.
Under Aggarwal’s leadership, the Rotary Club Delhi Imperial is poised for a year of growth, innovation, and community service.
Jul 24, 2024 | Uncategorized
The ABC Basketball League organized by the ABC Sports & Fitness Academy is now entering its third season with more enthusiasm and a new format. Under 14 and Under 16 categories will feature 18 teams for both boys and girls in this year’s league following a similar format of IPL.
The season commenced on July 13, 2024, with a players’ auction in which teams competed for budding young talent from across the country. This event is intended to provide a platform for young athletes to showcase their abilities with the potential to become future stars of Indian basketball. Price money will be one lakh for each category.
The league matches are scheduled from August 17 to August 23, 2024, at the Kharadi Stadium in Pune. The tournament will include 60 matches, concluding with the finals on August 23, 2024. The league, known as India’s only professional basketball tournament for youngsters, strives to promote basketball as a professional sport while also providing young players with opportunities to develop their skills and aspire to international representation.
Speaking at the press conference Mr. Anirudh Pole, Founder of ABC Sports & Fitness Academy Said, “The ABC Basketball League is dedicated to establishing basketball and giving opportunities for young athletes to succeed. We aim to nurture talent from a young age and provide them the opportunity they deserve. Our objective is to incorporate sports into children’s life and turn playtime into structured sports time. There will be
240 players from Maharashtra, including those from Pune, Nashik, Mumbai, and Kolhapur, will compete this season. Excitement for the event is increased by the planned attendance of notable figures like Nitin Kamath and Ranvijay Singh.
The matches will be held in an indoor venue, assuring a high level of competition. Over 1,000 spectators are anticipated to watch the action live at the stadium. Entry is free, and the matches will be live streamed on the SportVot app.
Jul 24, 2024 | Uncategorized
On July 13th and 14th, the Rajaji Raghati Biosphere marked a significant milestone in its ongoing rewilding and coexistence efforts with the planting of native forest species of trees and shrubs, including Haldu, Sal, Kumbhi, Padal, Sheonak, Sandan, Mainhar, Dhaiya, Ankol, Paniyala, and Rithol. This event is part of the biosphere’s broader vision to restore and preserve the natural ecosystem, providing a thriving habitat for wildlife and a sustainable environment for future generations.
The Rajaji Raghati Biosphere, a pioneering rewilding and coexistence initiative, was founded by esteemed environmentalist and activist Jai Dhar Gupta and is being executed by renowned rewilding expert Vijay Dhasmana. Spanning over 32 acres, the Biosphere aims to set a benchmark for ecological restoration and harmonious coexistence between humans and nature.
The recent planting event saw the introduction of a variety of native forest species, carefully selected to enhance the biodiversity of the region. These species, which are indigenous to the area, play a crucial role in maintaining the ecological balance and supporting the local wildlife. The initiative underscores the importance of using native plants in reforestation efforts to ensure the sustainability and resilience of the ecosystem.
Jai Dhar Gupta, founder of the Rajaji Raghati Biosphere, emphasized the significance of this planting event, stating, “By reintroducing native species, we are not only restoring the natural habitat but also fostering a deeper connection between the community and the environment. This initiative is a testament to our commitment to rewilding and coexistence, and we are thrilled to see the positive impact it will have on the region.”
Vijay Dhasmana, the project’s execution lead and a noted rewilding expert, added, “The planting of native trees and shrubs is a critical step in our rewilding efforts. These species are adapted to the local conditions and will help in creating a robust and resilient ecosystem. Our goal is to create a self-sustaining environment that supports a diverse range of flora and fauna.”
The Rajaji Raghati Biosphere continues to engage with local communities, volunteers, and stakeholders to ensure the success of its rewilding initiatives. The project not only aims to restore the natural landscape but also seeks to educate and inspire individuals about the importance of environmental conservation.
For more information about the Rajaji Raghati Biosphere and its ongoing projects, please visit https://www.instagram.com/rajaji.biosphere/
