Author: MM Desk

Mumbai-based Pidilite Industries, renowned for its iconic brands such as Fevicol, Dr Fixit, and M-Seal, has unveiled its financial performance for the fourth quarter of the fiscal year, showcasing a notable surge in net profit despite falling slightly short of analysts’ expectations. For the period spanning January to March, Pidilite Industries posted a consolidated net profit of Rs 364 crore, marking a significant 19.3% increase compared to the same quarter last year. The quarterly revenue stood at Rs 2,902 crore, reflecting a robust growth rate of 7.9% year-on-year. Meanwhile, the company recorded quarterly earnings before interest, taxes, depreciation, and amortization…

INOX Air Products has announced plans to establish its first green hydrogen project with an annual capacity of 190 tonnes in Chittorgarh, Rajasthan. The project aims to supply clean energy to Asahi India Glass Limited (AIS) under a 20-year offtake agreement, marking a significant milestone in India’s renewable energy landscape. This pioneering initiative will establish India’s first-ever Green Hydrogen Plant for the Float Glass industry, marking a significant step towards sustainable glass production. The plant, slated to be commissioned by July 2024, will have the capacity to generate up to 190 tons of Green Hydrogen per annum through the electrolysis…

Dr Reddy’s Laboratories has reported a significant 36% increase in its net profit for the fourth quarter ending March 31, 2024. The Hyderabad-based company recorded a net profit of ₹1,307 crore, marking substantial growth compared to ₹959 crore in the same period last year. The company’s total revenue also witnessed robust growth, surging by 12% to reach ₹7,083 crore in Q4 FY24, up from ₹6,296 crore in the corresponding quarter of the previous year. For the full fiscal year FY24, Dr. Reddy’s Laboratories reported a net profit of ₹5,568 crore, representing a notable 24% increase from ₹4,506 crore in FY23.…

TI Clean Mobility Pvt Ltd (TICMPL), the electric vehicle arm of Murugappa Group, has secured further capital of ₹580 crore from GEF Capital Partners. TICMPL, a subsidiary of Tube Investments of India Ltd (TII), finalized the deal with South Asia Growth Invest III LLC and South Asia EBT Trust III (collectively referred to as GEF), marking a significant milestone in its journey towards sustainable transportation solutions. With plans to raise a total of ₹3,000 crore to fuel its diverse verticals in electric vehicles, TICMPL’s current investment round brings the total fundraising amount to ₹2,530 crore upon completion, as stated in…

In a celebration of groundbreaking achievements in technological innovation, the Institute of Astrophysics and Space Sciences at the University of Lisbon in Portugal has been honored with the prestigious Golden Vector Award 2024 for their remarkable contribution to space exploration with the MOONS spectrograph. Every two years, igus recognizes the most exceptional energy chain applications worldwide, and this year’s award ceremony witnessed fierce competition with 328 entries from 37 countries. Alongside the University of Lisbon, TDK RF Solutions, MECAoctet, and Bear Machines GmbH were also acknowledged for their pioneering work in various fields. The Golden Vector Award was bestowed upon…

Shyam Metalics and Energy Ltd has officially commenced operations at the Ramsarup plant in Kharagpur, marking a significant milestone for the company’s expansion plans. The plant, acquired in May 2022 through its subsidiary Shyam Sel and Power Limited, is poised to become a key player in the region’s industrial landscape. With this development, Shyam Metalics aims to contribute to the socio-economic growth of the area by creating approximately 2,000 job opportunities. Equipped with state-of-the-art infrastructure, the Ramsarup plant features a direct reduced iron (DRI) unit with a capacity of 150,000 tonnes per annum (TPA) and an integrated captive power plant…

Jindal Stainless Ltd has played a pivotal role in strengthening the Indian Navy’s anti-submarine warfare capabilities by supplying 3 mm special alloy steel sheets for the Supersonic Missile-Assisted Release of Torpedo (SMART) system. The sheets, developed by Jindal Stainless’ vertical, Jindal Defence and Aerospace, are engineered to withstand high pressure and temperature conditions during flight. These sheets were utilized in the next-generation missile-based lightweight torpedo delivery system, designed and flight-tested by the Defence Research and Development Organisation (DRDO) off the coast of Odisha. Abhyuday Jindal, Managing Director of Jindal Stainless, expressed pride in the successful flight-testing of the Navy’s SMART…

As ABB commemorates a century of pioneering innovation, it proudly celebrates the milestone anniversary of its Miniature Circuit Breaker (MCB), an unsung hero in the realm of electrical safety. Since its inception, the MCB has been instrumental in protecting electrical circuits, evolving continuously to meet the sustainability demands of the future. A Century of Electrical Safety For 100 years, ABB’s MCB has been at the forefront of ensuring the safety of both commercial and residential buildings, mitigating the risk of unforeseen electrical incidents. From factories to data centers, homes to transport infrastructure, ABB’s MCBs have played a crucial role in…

The chain case is a critical component within vehicles. It provides a covering for the chain responsible for power transmission from the engine to the wheels in vehicles. It is engineered to safeguard the chain from external factors such as dirt, debris, and moisture, and is pivotal in ensuring seamless and efficient power transfer. Moreover, it aids in sustaining optimal chain tension, thereby reducing the necessity for frequent lubrication and maintenance, thus enhancing the chain’s lifespan. Additionally, the chain case contributes significantly to overall safety by preventing the chain from encountering the rider or other vehicle parts, mitigating the potential…

Sri Lanka has taken a significant step towards bolstering its renewable energy sector by sealing a 20-year deal with Adani Green Energy for the construction of two wind power stations, as per a cabinet statement released on Tuesday. Adani Green Energy, the renewable energy arm of the Adani Group helmed by billionaire Gautam Adani, received approval last February to invest a substantial $442 million in developing wind power plants with a combined capacity of 484 megawatts. The two wind power stations will be strategically located in Mannar town and Pooneryn village, both situated in Sri Lanka’s Northern province. Under the…