Author: MM Desk

WIDMA® Machining Solutions Group of Kennametal India Limited, a premier manufacturer of metal cutting CNC machines, has introduced two groundbreaking machining solutions at the Pune Machine Tool Expo (PMTX) 2024. The newly launched next-generation horizontal machining center, MacHX800™, and the blank profile grinding machine, BPG 15, were showcased among other advanced technologies. Held from May 25-28 at the Pune International Exhibition and Convention Center in Moshi, Pune, PMTX 2024 is one of the region’s largest events for machine tool and manufacturing technologies. The event, organized by the Indian Machine Tool Manufacturers’ Association (IMTMA), attracted industry leaders and professionals from around…

Customisation is the key to win customers heart, this testament is demonstrated by Fleetguard Filters Pvt Ltd’s (FFPL) located at Nandur, Pune. This article provides insights from a recent plant visit, including an in-depth look at the fuel filter production process and the company’s commitment to customization and quality. Learn about FFPL’s strategic expansions into new markets, their state-of-the-art technology, and their dedication to meeting diverse customer needs. On 25th May, FFPL organized a plant visit to their first manufacturing facility, which began its operations in 1992 at Nandur, Pune, laying a solid foundation for the business. Established in 1987,…

Jay Bharat Maruti Ltd. (JBML) Group, a key player in the automotive sector and the largest Joint Venture of Maruti Suzuki, announced its plans to establish two new plants to cater to the growing demand from Maruti Suzuki. The plants will be located in Kharkhoda, Sonipat (Haryana), and at SMG Suppliers’ Park in Gujarat. The decision to set up these facilities comes as part of JBML’s strategic expansion efforts to align with Maruti Suzuki’s production timelines. The Haryana plant is scheduled to commence production in January 2025, while the assembly shop in Gujarat will begin operations in March 2025. These…

Suzlon Energy, a prominent player in the renewable energy sector, disclosed its fiscal fourth-quarter results on Friday, highlighting a noteworthy drop in profit despite an upsurge in revenue. The company reported a profit of Rs 254.12 crore for Q4FY24, marking a decline of 20.6% compared to the same period last fiscal year when it recorded a profit of Rs 319.99 crore. However, amidst the profit decrease, Suzlon Energy witnessed a substantial increase in its revenue from operations, which surged by 29% to Rs 2179.20 crore during the fourth quarter of FY24, compared to Rs 1689.91 crore in Q4FY23. The company’s…

Torrent Pharmaceuticals, has announced plans to raise Rs 5,000 crore through the issuance of equity shares and convertible bonds via a Qualified Institutional Placement (QIP). This strategic move received the green light from the company’s board on May 24 and will be finalized following the upcoming Annual General Meeting (AGM). In a regulatory filing, the company stated, “Recommended to the members to obtain enabling approval for issuance of equity shares including convertible bonds or debentures through Qualified Institutional Placement (QIP) and or any other modes for an amount not exceeding Rs 5,000 crore in the upcoming Annual General Meeting (AGM).”…

Tata Steel has announced a landmark agreement with National Grid Plc’s Electricity System Operator to develop the necessary power infrastructure for transitioning its Port Talbot site to a green steel project. This collaboration will facilitate the construction of an electrical framework to support Tata Steel’s 3.2 million-ton electric arc furnace, expected to be operational by the end of 2027. “This will help us replace our aging and carbon-intensive blast furnaces with a state-of-the-art electric arc furnace capable of producing our customers’ most demanding steel products,” stated Rajesh Nair, Chief Executive of Tata Steel UK, in an official statement on the…

Sun Pharmaceutical Industries, India’s largest drug manufacturer, is set to pursue licensing agreements and acquisitions to bolster its specialty business, according to senior executive Abhay Gandhi. “We have always been judicious in using M&A and licensing to fill portfolio gaps and achieve strategic goals,” said Gandhi, CEO of Sun Pharma’s North America Business, at a recent press conference. Gandhi emphasized that Sun Pharma’s substantial cash reserves, which total nearly $2.4 billion including Taro Pharmaceutical Industries’ assets, position the company well for mid- to large-size transactions. He noted that Sun Pharma has been focusing on developing its pipeline of products in-house,…

Coromandel International unveiled 10 new products on Friday aimed at enhancing crop yields and safeguarding harvests from pests and diseases. Among the new offerings are a neem-coated bio plant and soil health promoter and five generic formulations, providing a robust suite of crop protection solutions for Indian farmers, the company announced in a statement. One of the highlights of the launch is “Prachand,” a patented product developed in partnership with Japan’s ISK. Utilizing advanced Japanese technology, Prachand is designed to protect paddy crops from devastating pests such as stem borers and leaf folders, which can lead to yield losses of…

Glenmark Pharmaceuticals reported a significant widening of its loss for the quarter ended March 31, 2024, with the loss escalating to ₹1,238.65 crore compared to ₹549.49 crore recorded during the same period last year. Despite the increase in losses, the company posted a modest rise in revenue from operations, which stood at ₹3,062.95 crore, up 2.1% from ₹3,000.51 crore in the fourth quarter of FY23. The company’s EBITDA saw a notable increase, rising 26.7% year-on-year to ₹504.2 crore. This positive performance in EBITDA is contrasted by the widening loss, highlighting the challenging financial environment Glenmark is navigating. In light of…

Hindalco Industries Ltd, a flagship company of the Aditya Birla Group, has increased its capital expenditure (capex) target for the fiscal year 2025 to ₹6,000 crore. The raised target is aimed at funding various strategic projects, including an alumina refinery, a copper recycling plant, a battery foil manufacturing unit, and the development of the Chakla coal mines. “This year, we would rather spend the cash on the growth capex planned,” stated Managing Director Satish Pai during a media call following the company’s quarterly earnings announcement. Pai confirmed that the entire capex would be funded through internal accruals. Earlier in the…