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Zimbabwe Government Honours its Commitment to Compensate Investors Under Bilateral Investment Protection and Promotion Agreements (BIPPAs)

The Government of the Republic of Zimbabwe is honouring its commitment to compensate investors protected by Bilateral Investment Protection and Promotion Agreements (BIPPAs), whose investments were affected by the Land Reform Programme in 2000. This follows the disbursement of funds from the US$20 million allocated for the compensation of BIPPA-protected farms in the 2024 National Budget.

The payments to farm owners under BIPPA-protection marks a historic milestone and a critical step in Zimbabwe’s Arrears Clearance and Debt Resolution Process.

Providing an update on the payments, the Minister of Finance, Economic Development, and Investment Promotion, Honourable Professor Mthuli Ncube stated, “I am pleased to announce that the compensation process has begun. We believe that this process is crucial for building trust, honouring our commitments, and ensuring consistency with our Constitution as we address Zimbabwe’s debt challenge.”

The payments towards the compensation of investors under BIPPA protection began in the second week of January 2025. Payments are being made to the claimants Bank accounts of choice.

Only claimants from countries with BIPPAs signed and ratified before the 2000 Land Reform Programme are eligible for compensation. 94 farms were approved for compensation. The claimants are from Denmark, Germany, the Netherlands, Switzerland and former Yugoslavia.

The Harare-based ambassadors of Germany, the Netherlands and Switzerland jointly welcomed the announcement, “The framework established by the Government of Zimbabwe leading to the full compensation of affected BIPPA farmers protected by Bilateral Investment Promotion and Protection Agreements, is indeed a historic achievement. We commend the Government’s allocation of funds in the National Budget as of 2024 to make the compensation a reality. Several affected investors have received initial payouts, and an emerging sense of closure exists. It marks a significant milestone, and we consider it a very encouraging step towards a comprehensive and fair settlement for farmers and investors in Zimbabwe, be it in terms of financial compensation or land tenure. Now, it is important for the Government to keep this positive momentum.”

The BIPPA farmers are being compensated for land and improvements on the farms in line with Section 295 (2) of the Constitution of Zimbabwe.

The President of the African Development Bank Group and the Champion of the Zimbabwe Arrears Clearance and Debt Resolution, Dr Akinwumi Adesina said, “The compensation demonstrates the Governments goodwill and commitment to building trust in the process and improving investor confidence in the country. The progress Zimbabwe has made, the commitment and resilience it is showing, calls for support from development partners to facilitate the country’s effort in implementing on going reforms and to provide the much-needed cushion to particularly the vulnerable members of the population.”

The compensation of these investors is one of the key reforms under the Structured Dialogue Platform on the country’s Arrears Clearance and Debt Resolution Process. Zimbabwe aims to clear its arrears, resolve debt, and unlock new concessional external financing to achieve its development goals. The Government established in December 2022, a Structured Dialogue Platform (SDP) with all its creditors and development partners, to institutionalise engagement on economic and governance reforms to underpin the Arrears Clearance and Debt Resolution Process.

The Resolution of BIPPA-protected farms is under the auspices of one of the three Sector Working Groups (SWG) of the country’s Structured Dialogue Platform for Arrears Clearance and Debt Resolution Process. It falls under the Land Tenure Reforms, Compensation for Former Farm Owners, and the Resolution of BIPPAs SWG. This SWG is co-chaired by the Office of the President and Cabinet, Switzerland and the United Nations Development Programme. The other two SWGs are Economic Growth and Stability Reforms, and Governance Reforms.

At the last High-Level SDP Meeting held in Harare on 25 November 2024, His Excellency, Dr Emmerson Dambudzo Mnangagwa, the President of the Republic of Zimbabwe, reiterated the Government’s ownership of the Arrears Clearance and Debt Resolution Process, and his commitment to the implementation of reforms underpinning the Process, in line with the country’s National Development Strategy 1.

The resolution of BIPPAs is also part of the country’s engagement and re-engagement initiatives with the international community.

After disbursing the US$20 million from the 2024 National Budget for BIPPA-protected farms, the remaining US$125.9 million will be paid over four years (2025 to 2028) through annual fiscal allocations. Additionally, the Government has allocated another US$20 million in the 2025 National Budget for this purpose.

Table 1: Approved BIPPA Farms for Compensation

Country

Number of Farms Approved for Compensation

Farmers

Value (US$ millions)

Denmark

6

5

13.4

Germany

14

7

14.0

Netherlands

46

33

88.2

Switzerland

27

10

27.0

Former Yugoslavia

1

1

3.3

Total

94

56

145.9

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Caption for Images: Sixth High-Level Structured Dialogue Platform on Zimbabwes Arrears Clearance and Debt Resolution Process held in the countrys capital, Harare in November 2024

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Video Caption: Zimbabwes Minister of Finance, Economic Development and Investment Promotion, Honourable Professor Mthuli Ncube Speaks about Compensation of Investors under Bippa-protection

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Contact:
Telephone: +263 242 794572-9
WhatsApp: +263 719 567 091/719 567113
www.ZimTreasury.co.zw

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Rado Unveils the DiaStar Original x Tej Chauhan: A Timeless Symphony of Heritage and Innovation

Rado, the revered “Master of Materials,” proudly presents its latest design masterpiece-the Rado DiaStar Original x Tej Chauhan. This extraordinary creation reimagines the legendary DiaStar Original, seamlessly blending six decades of iconic craftsmanship with the visionary genius of British industrial designer Tej Chauhan.

L-R – Ms Simran Chandhoke, Brand Manager – RADO (Business Head India), Designer, Mr Tej Chauhan and Mr Adrian Bosshard, CEO of Rado

A bold reinterpretation of a timeless classic, the DiaStar Original x Tej Chauhan features a radiant yellow-gold-coloured PVD-coated Ceramos™ bezel, celebrated for its unmatched durability and brilliance. Paired with a light grey, pillow-shaped rubber strap, it juxtaposes elegance with a contemporary edge. The matt black dial, accented by a striking silver and blue minute track, is an artistic marvel, further distinguished by Chauhan’s proprietary typography for the day-date display.

Beneath its exquisite exterior lies Rado’s calibre R764 automatic movement, offering an 80-hour power reserve and enhanced precision through its Nivachron™ antimagnetic hairspring. With a water resistance of up to 10 bar (100 meters), the timepiece marries impeccable performance with design ingenuity.

Adrian Bosshard, CEO of Rado, reflects on the partnership, “Tej Chauhan has delivered a visionary interpretation of the DiaStar, honouring its enduring legacy while propelling it into a bold new future. His brilliance is evident in every detail.”

Tej Chauhan shares his inspiration, “DiaStar Original is a Rado icon, so my challenge was to create design distinction without compromising its integrity.”

The Rado DiaStar Original x Tej Chauhan is not merely a watch but a statement of artistry, craftsmanship, and the unyielding pursuit of innovation.

Step into the future of horological excellence at rado.com.

#Rado #DiaStarOriginalxTejChauhan #FeelIt #MasterOfMaterials

Max Financial Services reports 8% growth in consolidated revenue^ in 9M FY25 rising to ₹34,106 crore; Axis Max Life Insurance’s Total APE grew 26%

Axis Max Life 9M FY25 Highlights:

  • New Business Premium*: ₹8,091 crore, up 16%; Proprietary channels APE grew by 41%;

  • Gross Written Premium: ₹21,360 crore, up 14% YoY

  • Embedded Value at ₹24,129 crore, grows 29% with an Operating RoEV of 17.3%

  • Individual New Business Sum Assured grew by 34%

  • Assets Under Management (AUM) at ₹1,71,705 crores, up by 20%

  • New retail policy sales increase by 19% during 9M FY25

Max Financial Services Limited has recorded consolidated revenue^ of ₹34,106 crores during 9M FY25, up by 8%. The consolidated revenue excluding investment income at ₹20,906 crore grew by 14% year-on-year during 9M FY25.

Max Financial Services reports 8% growth in consolidated revenue in 9M FY25 rising to ₹34,106 crore; Axis Max Life Insurance’s Total APE grew 26%

In 9M FY25, Axis Max Life Insurance Limited’s (Axis Max Life/ the Company) New Business Premium (Individual and Group) grew by 16% to ₹8,091 crore and Individual Adjusted First Year Premium grew by 25% to ₹5,352 crore leading to private market share gain by 41 bps to 9.3%. Number of new retail policies grew by 19%. Further, the renewal premium rose by 12% to ₹13,269 crore, taking the Gross Written Premium to ₹21,360 crores, an increase of 14% over the previous financial year. Additionally, the Company registered a growth of 9% in VNB in first 9 months despite the impact of surrender regulations in third quarter.

During the third quarter, the Company continued its growth momentum within its proprietary channels and grew its APE by 26%, backed by a secular growth within Agency, Cross Sell and E-commerce channel. This growth was fueled by a successful NFO launch, Sustainable Wealth 50 Index Fund. Additionally, the Company successfully refreshed its brand identity and changed its corporate name from erstwhile, Max Life Insurance Company Limited to now Axis Max Life Insurance Limited.

Mr. Prashant Tripathy, CEO and Managing Director, Axis Max Life, said, “During 9M FY’25 Axis Max Life increased its market share by 41 bps with an Individual Adjusted FYP growth of 25% vs a growth of 19% for Private Industry and a growth of 14% for Total Industry. Our strong 9M FY25 performance underscores our strategic commitment to expanding proprietary channels, strengthening partnerships, and tapping into new customer segments. With focused investments and robust execution, we continue to drive sustained growth across all channels.

Further, our rebranding to Axis Max Life leverages the combined strength and trust of two leading financial brandspropelling our strategic expansion beyond major metros and Tier 1 cities. This leverages our legacy of trust and expertise and adds the confident familiarity of the Axis brand, ultimately driving enhanced value creation for our stakeholders.”

In 9M FY25, the Company’s Annual Premium Equivalent (APE) grew by 26% driven by a strong growth of 41% within Proprietary channels and 16% within Partnership channels. The contribution of Proprietary channels to total new sales increased from 40% in 9M FY24 to 44% in 9M FY25. The Company maintained leadership position in overall E-commerce business in both online Protection, and online Savings. The new business growth was fuelled by strong growth in Protection & Health, ULIP and Group Credit Life. Retail Protection & Health grew by 37%, Group Credit Life grew by 18% in 9M FY25. Additionally, the Company has successfully on-boarded 32 new partners in 9M FY25, including 3 Banca Partners – India Post Payments Bank, NSDL Payments and CSB Bank.

Focusing on product innovation, the Company launched another NFO during Q3, Sustainable Wealth 50 Index Fund along with a new Term product, “Smart Term Plan Plus”. This new protection plan offers customers flexibility to opt from 7 plan variants tailored to better meet customer needs, including income protection and whole life coverage up to age 100. Additionally, it also includes instant payment upon claim intimation, auto-rebalancing of life and ADB cover, and a Maternity cover for female lives Insured to safeguard themselves from certain Pregnancy related complications and their new born against Congenital Anomalies. Our focus on protection has led to a strong growth of 34% in Individual new business Sum assured.

In 9M FY25, Axis Max Life’s persistency performance has continued to improve with a leadership position maintained in 13-month persistency (basis number of policies) at 84.8%.

Key Financial Summary of Axis Max Life:

₹ Crore

9M FY25

9M FY24

YoY

Financial performance Summary

Total APE

5,731

4,561

26%

Renewal Premium

13,269

11,823

12%

Gross Written Premium

21,360

18,793

14%

Number of Policies (000s)

540

454

19%

Individual New business Sum Assured

2,59,925

1,94,000

34%

Assets Under Management

1,71,705

1,42,621

20%

Profit Before Tax

397

436

-9%

Embedded Value

24,129

18,709

29%

Value of new business

1,255

1,152

9%

Solvency

196%

179%

17%

About Max Financial Services Limited

Max Financial Services Limited (MFSL) is part of India’s leading business conglomerate – the Max Group. Focused on Life Insurance, MSFL owns and actively manages an ~81% majority stake in Axis Max Life Insurance Limited.

MFSL is listed on the NSE and BSE. Besides a 3.3% holding by Analjit Singh and sponsor family, some of the other group shareholders include MSI, Ward ferry, New York Life, Capital, GIC, Baron, Vanguard, Jupiter, Blackrock, and the Asset Management Companies of DSP, Nippon, HDFC, ICICI Prudential, UTI, Motilal Oswal, Canara Robeco, Sundaram, Aditya Birla Sun Life, Mirae, and Kotak.

About Axis Max Life Insurance Ltd.

Axis Max Life Insurance Ltd. (formerly known as Max Life Insurance Company Ltd. is a Joint Venture between MFSL and Axis Bank Limited. Axis Max Life offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per the annual audited financials for FY2023-24, Axis Max Life has achieved a gross written premium of INR 29,529 Cr.

For more information, please visit the company website at www.maxlifeinsurance.com.

^ Includes investment income
* New business premium includes individual and group premium

Netrack Engages Industry Leaders at BICSI Chennai with Future-oriented IT-solutions

Netrack’s participation in the BICSI event in Chennai on December 21st 2024, marked the year with productivity and success. As a leader in the manufacturing of data center racks and IT infrastructure solutions, Netrack showcased its cutting-edge offerings to meet the growing demands of high and medium-density environments. Over fifty industry professionals attended the event. In fact, it was a grand success with enthusiastic participation and insightful discussions.

Netrack Engages Industry Leaders at BICSI Chennai with Future-oriented IT-solutions

One of Netracks heart and soul, Mr. Krishna Raj, gave an enthusiastic presentation that gave the event a boost. He conducted a comprehensive and engaging session with interesting discussions on Netracks latest solutions for high and medium-density requirements. Throughout his presentation, he emphasized on important innovations such as the rear door heat exchanger. He elaborated on the cutting-edge solution designed by Netrack to optimize cooling and energy efficiency in a high-density data center environment. He spoke into detail about Netracks state-of-the-art solution for maximizing energy efficiency and cooling in a high-density data center setting. By addressing important industry challenges related to thermal management, Netrack gained special attention from all the participants due to its potential to enhance operations and reduce costs.

Mr. Krishna Raj was joined by Mr. Ramesh from Chennai, a key member of the Netrack team, and together they answered audience questions and provided valuable insights into how Netrack’s solutions are shaping the future of IT infrastructure management. They also emphasized the sustainability and efficiency aspects that set Netrack apart in the industry.

Netrack also demonstrated its CE-certified Power Distribution Units (PDUs) at the event, which impressed industry professionals with their quality, safety, and reliability. The real-time display of the CE-certified PDUs showcased the robust performance and seamless integration of Netrack’s PDUs into data centers and allowed everyone present to experience the efficiency of the offering. Such a live demonstration in the BICSI event in Chennai further enhanced Netrack’s reputation for delivering innovative solutions that meet global standards.

Overall, the event provided an excellent opportunity for Netrack to connect with key stakeholders in the IT and data center industry. It enabled the scope for future engagements by highlighting its commitment to innovation and customer-focused solutions.

Delirium Music Festival 2025: A Spectacular Musical Extravaganza in Association with Times of India

Get ready for an electrifying night as Delirium Music Festival 2025, in association with Times of India, gears up to bring a sensational lineup of artists to Bengaluru! The much-anticipated festival, presented by JJ Productions and Peritum Productions, will take place at TERRAFORM – Main Gate, Bengaluru, on March 2nd, 2025, from 5 PM onwards.

Delirium Music Festival 2025

Delirium Music Festival has curated an unforgettable experience featuring some of India’s most celebrated artists, including Anuv Jain, Zaeden, Osho Jain & Zeeshan Khan, with a perfect mix of indie, electronic, and soul-stirring melodies, the festival promises to be an unmissable celebration for music lovers.

Mr. Janmejay Singh Patil (JJ), Founder of JJ Productions, expressed his excitement about the event, stating, “Delirium Music Festival is all about creating moments that resonate with music enthusiasts. With this lineup, we aim to elevate the experience and make it a truly unforgettable night.”

Dr. Nishant Jayant, Founder & Director of Peritum Productions, added, “We are thrilled to bring Delirium 2025 to Bengaluru, a city that truly embraces music. This festival will be a fusion of energy, passion, and creativity, and we can’t wait to share it with our audience.”

With its powerful artist lineup, high-energy ambiance, and a promise of an immersive musical journey, Delirium Music Festival 2025 is all set to take Bengaluru by storm.

Tickets are now available! Don’t miss the chance to witness this grand spectacle. Grab your passes today and be part of a night to remember.

For more details and ticket bookings + 91 8770931613

For more information, please visit https://www.instagram.com/deliriums___/

Lava’s #MyBharatWithLava Campaign Concludes, Engages With 4M Social Natives

Lava International Limited, the Indian smartphone manufacturer successfully concluded its #MyBharatWithLAVA campaign, garnering 57K engagement on Instagram. The two- day campaign started on the eve of Republic Day 2025 marked an industry-first initiative, celebrating India’s rich cultural diversity, ethnicity and creativity through a digital parade. By collaborating with popular content creators from across the country, the campaign brought to life the patriotic spirit and unique storytelling, while celebrating Indias secular ethos of Unity in Diversity.

MyBharatwithLava

The campaign, which took over social media, ignited patriotic pride and reached close to 4 million social natives, driving an impressive engagement of 57K and 632K impressions in collaboration with prominent creators in the likes of Satya Saggar, Narendra Raj and Priyansh.

Sharing his views on the campaign, Mr. Puravansh Maitreya, Head of Marketing, Lava International Limited said “At Lava, we believe in the power of diversity and unity that makes India truly special. With #MyBharatWithLAVA, we set out to celebrate the vibrant cultural identities of each state while fostering a deep sense of national pride. Seeing the overwhelming response and the incredible engagement from across the country has been truly inspiring. This campaign became more than just a tribute to India’s rich heritage-it evolved into a movement where people proudly showcased their regional traditions. This 76th Republic Day, we invited everyone to unite in celebrating the essence of our great nation, because when we come together, Bharat shines brighter!

The campaign, which kicked off with a high-impact Instagram grid post on January 26th, 2025, brought together eight regional influencers who represented different states, each sharing their unique cultural stories through 20-second short videos. The list included familiar names such as Satya Saggar from Mumbai, Narendra Raj from Delhi, Priyansh from Bhopal, Akshay from Lucknow, Mohammad Abbass from Kashmir, Ashwin K C from Kerala, Krishan Nagi from Assam, and Rinku Bisht from Gujarat.

In the second leg, Lava encouraged user participation by inviting people to share their cultural pride, with the best entries being featured as ‘State Stars’ on Lava’s social media platforms. The initiative successfully strengthened community bonds, with users actively contributing stories, photos, and videos that reflected their regional traditions.

With creative support from Social Panga, the campaign successfully delivered content that resonated deeply with audiences across digital platforms, driving exceptional engagement and connection.

About Lava International Limited

#ProudlyIndian | Made in India, Made for India

Lava International Limited, headquartered in Noida, Uttar Pradesh, is a pioneering mobile handset and solutions company in India, founded in 2009 with the vision to empower individuals. The companys corporate office and manufacturing facility, equipped with a production capacity of 42.52 million handsets per annum, are strategically located in Noida. Lavas commitment to innovation is reflected in its two state-of-the-art research and development centers in Noida, housing dedicated teams in software and hardware design. The companys extensive nationwide presence is facilitated by a robust retail network of 1.65 Lakh retailers, directly served by over 1000 distributors, and supported by a vast after-sales service network of 800+ professionally managed service centers. The brand has a global presence in 20+ countries.

Beyond smartphones, Lava is expanding its product portfolio to include smartwatches, Neckbands, Probuds, and an extended True Wireless Stereo (TWS) segment. The brands credibility is underscored by being ranked the ‘Most Trustworthy Brand’ in the CMR Retail Sentiment Index.

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IDFC FIRST Bank Introduces Exclusive Package Designed for Senior Citizens

IDFC FIRST Bank has unveiled an exclusive and specialised range of banking products and services specifically curated to address the unique financial requirements of the elderly members of the society.

Mobile Banking Redefined for Senior Citizens

These offerings, include the Senior Citizen Savings Account and Senior Citizen Fixed Deposits, reaffirming the bank’s commitment to provide superior, secured and customised financial solutions for this important customer segment.

Under this program, the Bank has introduced a dedicated feature on its Mobile Banking App called ‘Senior Citizen Specials’. This feature offers to senior citizens.

  • Safe, secure, and customised investment solutions as applicable to senior citizens’ needs based on their life-stage.

  • Additional 0.5% interest rate on fixed deposit

  • No penalty on premature closure of the FDs

  • Cyber Insurance Coverage of Rs. 2 lakhs to protect our senior citizens from rising cyber threats,

  • Complimentary one-year MediBuddy health membership with unlimited complimentary doctor video consultations for up to 4 family members

  • Up to 15% discount in network pharmacies, a full body health checkup covering 50+ parameters, and a Rs. 500 wallet balance to avail.

  • The mobile banking app also provides access to a simplified mutual fund investment experience which is backed by innovation and research. The MF offers are conservative, and can be modified by the senior citizen based on their own risk-reward appetite.

Commenting on the Bank’s offerings for Senior Citizens, Mr. Chinmay Dhoble, Country Head – Retail Liabilities & Branch Banking said, “We want to treat our Senior Citizens special and we arehappy to announce specialised and innovative offerings for Senior Citizens. Our Senior Citizen Savings Account eliminates over 30 charges that are typically levied on savings accounts. In addition, we have put together a very special package for our esteemed senior citizens, with no premature breakage penalty on fixed deposits, health benefits, cyber insurance and a special app customised for seniors. We hope this is liked by our seniors and this will be a tribute for their contribution to us.”

For more information, please visit www.idfcfirstbank.com.

JKLC Posted Net Profit of Rs. 59.64 Crores in October-December 2024

JK Lakshmi Cement Ltd. (JKLC), a Flagship Company of JK Organization today announced its Financial Results for the Third Quarter of Financial Year 2025.

Financial Highlights

Standalone

Particulars

Units

Oct-Dec 24 Quarter

Oct-Dec 23 Quarter

Sales Volume

Lac Tonnes

22.48

23.55

Net Sales

Rs. Crores

1373.29

1586.06

PBIDT

Rs. Crores

153.17

259.24

PBT

Rs. Crores

85.18

187.51

PAT

Rs. Crores

59.64

124.06

Net Debt to EBIDTA

Times

0.54

0.05

Net Debt Equity

Times

0.11

0.0

Apr-Dec 24 Nine Months

Apr-Dec 23 Nine Months

64.40

70.57

3959.15

4671.99

503.11

634.32

301.71

422.24

223.49

281.97

0.54

0.05

0.11

0.01

Composite Scheme of Arrangement

Further as a part of Company’s ongoing efforts to enhance Shareholders’ Value, the Company’s Board had approved the Composite Scheme of Arrangement which provides for the Merger of its Subsidiaries viz Udaipur Cement Works Ltd (UCWL), Hansdeep Industries & Trading Company Limited and Hidrive Developers & Industries Limited into itself subject to various Regulatory Approvals & Compliances. The Appointment Date for the Merger is 1st April 2024. The Company has already approached the Regulatory Authorities for their consents. Pending the necessary approvals, the effect of the Scheme has not been given in the Financial Results.

Commenting on the Results of the Company, Smt. Vinita Singhania, Chairperson & Managing Director(CMD) of the Company said, “The Profitability of the Company for the Quarter has been impacted due to Lower Sales Realization in our primary markets.”

Sustainability

The Company is implementing a Project for enhancing its TSR from 4% to 16% in a phased manner at its Sirohi Cement Plant as a part of its Green Initiatives.

The Share of Renewable Power Green Power in the Company’s Power Mix was 48% for the Quarter.

CAPEX

The Company is expanding its Cement Grinding capacity at its Surat Grinding Unit from 1.35 Million Tonnes to 2.7 Million Tonnes. The Project is likely to cost Rs.225 Crores to be funded through Term Loans from Bank of Rs. 150 Crore & the balance from Internal Accruals.

The Company is also putting up a Railway Siding at its Durg Cement Plant at a Cost of Rs.325 Crores to be funded through a Debt of Rs. 225 Crores & the balance through Internal Accruals.

The Company is expanding the Clinker Capacity at its integrated Cement Plant at Durg in Chhattisgarh by putting up an Additional Clinker Line of 2.3 Million Tonnes Per Annum & Four Cement Grinding Units aggregating to 4.6 Million Tonnes Per Annum at Durg in Chhattisgarh and also Three Split Location Cement Grinding Units with aggregate Cement Grinding Capacity of 3.4 Million Tonnes Per Annum at Prayagraj in Uttar Pradesh, Madhubani in Bihar & Patratu in Jharkhand. The Project is likely to cost Rs.2500 Crores & is proposed to be funded through Term Loans from Banks of Rs.1750 Crores & the balance through Internal Accruals.

Consolidated Financial Results for the Quarter & Nine Months ended 31st December 2024.

Particulars

Units

Oct-Dec 24 Quarter

Oct-Dec 23 Quarter

Sales Volume

Lac Tonnes

30.30

29.60

Net Sales

Rs. Crores

1496.83

1702.84

PBIDT

Rs. Crores

210.79

318.84

PBT

Rs. Crores

87.01

222.98

PAT

Rs. Crores

60.46

150.15

Net Debt to EBIDTA

Times

2.43

1.14

Net Debt Equity

Times

0.53

0.38

Apr-Dec 24 Nine Months

Apr-Dec 23 Nine Months

85.31

87.28

4295.00

5007.62

543.88

757.44

176.32

482.49

108.82

325.81

2.43

1.14

0.53

0.38

Awards & Accolades

1. JK Lakshmi Cement felicitated with Innovation in CSR Practices Award At 11th edition of CSR Summit & Awards 2024 by UBS Forums.

2. 7 Gold Awards at Rajsamand Chapter Convention of Quality Circle Forum of India, 2024 to Sirohi Unit.

3. JK Lakshmi Cement (Sirohi Unit) was honoured for exceptional commitment to workforce welfare with the Best Employer Award by the Employers Association of Rajasthan.

4. JK Lakshmi Cement (Durg Unit) was awarded the Silver Category Award for outstanding performance in AF and AR co-processing at the International Waste Management Conference.

5. JK Lakshmi Cement (Surat Grinding Unit) was awarded the Gold Award in the Cement Category at the Grow Care India Energy Efficiency Award by M/s Grow Care India.

6. JK Lakshmi Cement (Cuttack Grinding Unit) was awarded the Odisha CSR & Leadership Award 2024 at the Odisha CSR forum.

7. JK Lakshmi Cement (Jhajjar Grinding Unit) was awarded the Platinum Award in the Environment Preservation Category at the 16th Exceed Environment Award Ceremony.

8. Durg Unit is recognized as the “Energy Efficient Unit” at the 25th National Award for Excellence in Energy Management 2024 by CII.

9. “Platinum Award 2024” in the Environment Preservation category for Outstanding Practices on “Environment Preservation” in the Cement Industry at the 16th Exceed Environment Award Ceremony to Jhajjar Grinding Unit.

Outlook

Considering the Government’s continuous focus on Infrastructure Development & Higher Budgetary allocation towards Infrastructure Development and various Other Initiatives for Housing & Road Development, the Outlook for Cement Sector is positive in the coming year.

About JK Lakshmi Cement Limited

JK Lakshmi Cement Limitedis a part of the prestigious JK Organisation which is over hundred and thirty-five years old and boasts operations in India and abroad with a leadership presence in the fields of tyre, cement, paper, power transmissions, sealing solutions, dairy products and textiles.

JK Lakshmi Cement is a renowned and well-established name in the Indian Cement industry for four decades and has an annual turnover of over Rs 6000 crores. The Company has a formidable presence in Northern, Western and Eastern Indias cement markets.

Having started in 1982, the Company has modern and fully computerized, integrated cement plants at Jaykaypuram, in the Sirohi district of Rajasthan, at Dabok, in the Udaipur district of Rajasthan (a subsidiary of the company) and at Ahiwara, in the Durg district of Chhattisgarh. The Company also has four split location grinding units at – Kalol and Surat in Gujarat, Jhamri in the Jhajjar district of Haryana and Cuttack in Odisha. The present combined capacity of the Company is about 16.4 Million Tonnes per annum.

The Company has also introduced Smart Business Solution Products (SBS) such as JK Lakshmi Concrete- Ready Mix Concrete (RMC), JK Lakshmi- Gypsum Plaster, JK Lakshmi Wall Putty and JK Lakshmi Fly Ash Blocks.

JK Lakshmi Cement has a Vision of reaching Cement Capacity of 30 Million Tonnes by 2030.

Explore Top-tier Education and Scholarships at the Destination Dubai Expo

  • Meet leading international universities from Dubai in Chennai, Hyderabad and Bengaluru

  • Nearly 50% of all international students in Dubai’s higher education institutions come from India

The Destination Dubai Expo, a premier education event bringing leading international universities based in Dubai to India, offering students an exclusive opportunity to explore top-tier education, scholarships, and career opportunities in one of the world’s most dynamic cities.

An initiative of the Government of Dubai’s Knowledge and Human Development Authority (KHDA, this event will take place in Chennai on 9th February, Hyderabad on 12th February, and Bengaluru on 15th February. Students will have the chance to meet with representatives from world-renowned universities, learn about globally recognized degree programs, and discover how studying in Dubai can shape their future on the global stage.

The Destination Dubai Expo will feature an impressive lineup of international universities who have fully accredited branch campuses in Dubai, including Curtin University (Australia), University of Dubai, and University of Birmingham Dubai, De Montfort University, and Middlesex University from the UK. Top-ranking Indian universities with Dubai campuses such as Amity University Dubai, BITS Pilani Dubai Campus, and Manipal University Dubai will also be present.

These universities offer a wide array of programs across disciplines such as business, engineering, healthcare, and technology, all leading to internationally recognized degrees. Students attending the expo will have the opportunity to explore scholarship options, admissions processes, and career development pathways.

Dr Wafi Dawood is the CEO of Strategy & Planning, KHDA

Dr Wafi Dawood, CEO of Strategy and Planning Sector at KHDA said, “Dubai has established itself as a world-class destination for higher education, offering students access to globally recognized degrees, cutting-edge research, and future-focused learning opportunities. Nearly half of all international students in Dubai’s higher education institutions come from India, which reflects the trust Indian families place in the quality and value of education in our city.

With our Education E33 strategy driving innovation, economic growth, and a knowledge-based future, students in Dubai gain not just an education, but also the skills and networks to thrive in a rapidly evolving world. The safe and multicultural learning environment, coupled with strong career prospects, make Dubai an ideal place to study, work, and succeed in a globally connected economy.”

R. Srividya, Business Strategist, Brand Grayscale, the organizers of the Destination Dubai Expo, said, “Dubai offers an ideal study destination for Indian students due to its proximity, affordable living costs, and world-class education options. The city’s multicultural environment, safe environs, and strong job prospects make it a secure and attractive place to live and study. Students also have the opportunity to gain valuable work experience through part-time jobs or internships, which add to their resume while helping them build a professional network. With a student-friendly visa policy, Dubai is fast becoming the go-to destination for students seeking a global education without the high cost of studying in other countries like the UK or the US.

Dubai is becoming an increasingly popular choice for Indian students seeking higher education abroad. With its proximity to India, easy travel, and cultural similarities, it’s a smooth transition for students. Dubai offers a multicultural experience, world-class universities, and plenty of career opportunities that will help students build a global future.

The Knowledge and Human Development Authority (KHDA) plays a pivotal role in shaping the education sector in Dubai, ensuring that all participating universities meet rigorous global standards. Through its accreditation and regulatory functions, KHDA ensures continuous improvements in teaching, facilities, and student welfare. The authority also supports institutions in integrating advanced technologies and innovative teaching methods, preparing students for success in a rapidly changing world.

Event Highlights and Schedule
At the Destination Dubai Expo, students will be able to:

  • Meet representatives from top Dubai-based and international universities

  • Learn about scholarship opportunities and financial aid

  • Attend presentations and panel discussions on choosing the right program, application processes, and career development

  • Network with university representatives and industry experts

The expo will be held at the following locations:

  • Chennai9th February 2025, Taj Connemara

  • Hyderabad12th February 2025, Vivanta Hyderabad, Begumpet

  • Bengaluru15th February 2025, Courtyard by Marriott Bengaluru Outer Ring Road

Win an iPhone 16 while unlocking a World of Opportunities at Destination Dubai Expo

The Destination Dubai Expo isn’t just about discovering world-class education-it’s also about exciting opportunities that could change your life. Imagine exploring top universities, learning about scholarships, and discovering career pathways, all while having the chance to win the latest iPhone 16. Simply register and attend the event, and you could walk away with this incredible prize. But the real value lies in what Dubai has to offer: a global education, diverse career prospects, and a vibrant, multicultural lifestyle. Whether you’re looking to pursue your undergraduate or postgraduate studies, this is your chance to unlock doors to success in one of the world’s most dynamic cities.

Register now at www.destinationdubaiexpo.com.

About KHDA
The Knowledge and Human Development Authority (KHDA) is the governing body for education in Dubai. It is committed to maintaining high-quality standards across all educational institutions in the city, ensuring that students receive world-class education. KHDA’s accreditation and regulatory processes help ensure that universities continuously improve, and its support of innovation in education ensures that students are well-prepared for the future.

India Shelter Reports Strong Q3FY25 Performance with 36 percent YoY AUM Growth and 54 percent Surge in PAT

  • AUM as of Q3FY25 at Rs. 7,619 Crs, growth of 36% YoY

  • Disbursements at Rs. 879 Crs, growth of 29% YoY

  • PAT of Rs. 96 Crs for Q3FY25, growth of 54% YoY

  • RoA for Q3FY25 at 5.5% and RoE for Q3FY25 at 15.1%

India Shelter Finance Corporation Limited announced its financial results for the 3rd Quarter of Fiscal year 2025. The Board of Directors of India Shelter Finance Corporation at its meeting held today, approved the unaudited financial results for quarter and nine-month ended December 31, 2024.

Commenting on the performance, Mr. Rupinder Singh, Managing Director, and CEO of India Shelter Finance Corporation said: We are pleased to announce that the Company delivered strong performance in the third quarter of FY25 driven by strong demand environment in the affordable housing segment. We delivered an AUM growth of 36% YoY to Rs. 7,619 Crs supported by a disbursement growth of 29% YoY to Rs. 879 Crs.

India Shelter Reports Strong Q3FY25 Performance with 36% YoY AUM Growth and 54% Surge in PAT

Key Performance Metrics:

Particulars (Rs. Crs)

Q3FY25

Q3FY24

YoY

Q2FY25

QoQ

9MFY25

9MFY24

YoY

AUM

7,619

5,609

36%

7,039

8%

7,619

5,609

36%

Disbursements

879

679

29%

828

6%

2,422

1,899

28%

Spread (%)

6.1%

6.0%

6.1%

6.1%

6.0%

Opex/AUM

4.3%

4.4%

4.4%

4.3%

4.6%

PAT

96

62

54%

90

7%

270

170

59%

RoA (%)

5.5%

4.7%

5.6%

5.5%

4.5%

Gross Stage 3 (%)

1.2%

1.2%

1.2%

1.2%

1.2%

We continue to maintain strong focus on leveraging tech to improve operations, onboarding and customer experience. Company now processes 96% digital collections, 98% e-signing of applications, 78% of our customers are registered on the app with 71% service requests raised via the app.

With continued focus on branch expansion, technology innovation & manpower addition we strive to improve our efficiency metrics. Cost to Income improved to 37.4% in Q3FY25 from 41.1% in Q3FY24. During the quarter we added 5 new branches to reach a count of 265 branches across 15 states.

Profitability:

  • Profit after tax grew by 54% YoY to Rs. 96 Crs in Q3FY25 as against Rs. 62 Crs in Q3FY24

  • RoA improved to 5.5% in Q3FY25 from 4.7% in Q3FY24

  • RoE improved to 15.1% in Q3FY25 from 13.9% in Q3FY24

Borrowings & Liquidity:

  • Networth is at Rs. 2,595 Crs as of December’24. The company continues to carry a liquidity of Rs. 1,752 Crs as of December’24

  • In Q3FY25, cost of funds was maintained at 8.8%

Asset Quality & Provisions:

  • Gross Stage 3 and Net Stage 3 at 1.2% and 0.9% as of 31st December’24

  • 30+ DPD stood at 3.7% as of 31st December’24

  • Credit Cost for the quarter at 0.5%

About India Shelter Finance Corporation

India Shelter provides affordable home loans and loan against property in Tier 2 and 3 geographies in India. India Shelter provides home loans to customers from low-and middle-income segments who are building or buying their first homes. The company has strong distribution moat with its Pan-India network in 15 states via 265 branches and maintains a granular portfolio. The company is being run by an experienced professional management team backed by marquee investors.