Trackpad
GlobalSpace’s subsidiary Makebot partners with Euro School for expanding its footprint in Indian education sector
GlobalSpace Technologies Limited has announced that its subsidiary, Makebot will partner with Euro School for its Centre of Excellence (CoE) for experiential learning programme. With this move, Makebot is planning to expand its footprint in the Indian education sector. A leading chain of schools in India, Euro School in association with Makebot, has launched a coding-to-concept programme for all their schools PAN India, consisting of over 16,000 students to promote skill-based learning.
Euro School's CoE for experiential learning is focussed on creating a skill-based learning platform in addition to the regular curriculum across its schools. Euro School in the future has plans to introduce programmes in domains like artificial intelligence, data science, machine learning, and core coding platforms such as Python. GlobalSpace Technologies is an IT company, providing solutions to companies operating in the healthcare domain. Makebot is the subsidiary of the company in the education sector.
Lasa Supergenerics gets SEIAA clearance for expansion of its Khed plant
The leading API manufacturer, Lasa Supergenerics received environmental clearance from State Environment Impact Assessment Authority (SEIAA) for expanding its ‘benzimidazole derivatives’ capacity at the company’s manufacturing facility at Khed (Maharashtra). The proposed capacity expansion will require only a debottlenecking CAPEX as the company already has the necessary infrastructure and machinery in place. Besides, Lasa Supergenerics was awaiting the clearance to begin operationalising its assets, the company stated in a press release to the exchanges.
Post-expansion, the volumetric capacity of the company is projected to increase by 2,500 TPA, taking the company’s total volumetric capacity to a total of 6,800 TPA. The proposed expanded capacity will be used to manufacture benzimidazole derivatives (such as Albendazole, Fenbendazole, and others) of which, the company is one of the prominent suppliers. The capacity expansion is expected to be commissioned in Q3FY21 and would contribute to the top-line of the company from Q4FY21 onwards. Lasa Supergenerics is one of the leading players in the manufacturing of veterinary APIs. Around 20 per cent of its APIs are exported to countries such as Australia, Bangladesh, Middle East, China, Turkey, Egypt, Jordan, Korea, and Pakistan.
KPR Mill to expand garment segment by investing Rs 250 crore
KPR Mill Ltd is venturing into the expansion of its garment segment by establishing a new garment factory with a capacity of 42 million garments per annum at an estimated project cost of Rs 250 crore. This expansion would drive the revenue going ahead as the garment segment is the highest revenue contributor to the company’s total revenue with a share of 42 per cent . Also, on the industrial front, many global companies would shift buying from China to other countries, including India. India is one of the largest producers of raw materials such as natural fibre, cotton, jute as well as of synthetic fibre. This favourable shift would drive the company’s garment business in the coming time. The company has also come up with its quarterly numbers for the period ended September 30, 2020. The consolidated revenue for the quarter Q2FY21 came in at Rs 941.92 crore, registering a 16.6 per cent YoY increase and 74.2 per cent QoQ increase.
EBITDA for the quarter grew by 10.7 per cent YoY to Rs 189.4 crore as against Rs 171.03 crore in the corresponding quarter last year, with a corresponding margin contraction of 106 bps while EBITDA margin for the quarter stood at 20.1 per cent. PAT for the quarter came in at Rs 112.54 crore, registering a 3.1 per cent YoY increase and 86.6 per cent QoQ increase.
The company has a capacity to produce 1,00,000 MT of yam per annum; 40,000 MT fabrics per annum; 115 million of ready-made knitted apparel per annum, 66 windmills with the total green power generation capacity of 61.92 MW; co-gen cum sugar plant with a capacity of 30 MW & 5,000 TCD and ethanol plant with 90 KLPD capacity. The company’s revenue mix comprises of yarn & fabric (42 per cent of sales), garment (42 per cent), sugar (10 per cent) and others (6 per cent).
Tata Consultancy Services gains on partnering with B3i
Tata Consultancy Services (TCS) announced its partnership with B3i Services AG to design, develop & launch ecosystem innovations based on distributed ledger technology (DLT) for the insurance industry. B3i Services AG is a global industry-led blockchain initiative. Simplistically, a distributed ledger is a consensus of replicated, shared, and synchronised digital data geographically spread across multiple sites. A distributed ledger has no central administrator. It requires a peer-topeer network as well as consensus algorithms to ensure the undertaking of replication across nodes.
This partnership will help accelerate the digitisation of insurance for faster and more efficient delivery of tailored solutions to support risk managers, insurers, brokers, reinsurers, and industry service providers. Partners and customers will be able to leverage the B3i Fluidity® platform by reusing common components & services. Banking, financial services & insurance segment is the main revenue contributor of TCS. As of FY20, BFSI contributed nearly 39 per cent of the company’s revenue.
Cipla to commercialise ICMR validated IgG ELISA testing kit in India
Pharma major, Cipla Limited, is commercialising antibody detection kits for COVID-19 in India under the technology transfer from Indian Council of Medical Research (ICMR) in partnership with Karwa Limited.
As a part of this collaboration, the company would be responsible for the marketing and distribution of the SARS CoV-2-IgG antibody detector that will be manufactured by Karwa Ltd and marketed under the brand name, ELIFast. The company informed that Cipla’s extensive distribution network will ensure a seamless supply of kits across the country through the channels approved by ICMR in order to ensure equitable access. Besides, the company also added that the product has been validated by ICMR and National Institute of Virology (NIV), and is found to have specificity & sensitivity of 99.33 per cent and 92 per cent, respectively.
Tech Mahindra signs contract worth Rs 400 crore with Hindustan Aeronautics for Project Parivartan
Hindustan Aeronautics Limited (HAL) has signed a contract worth Rs 400 crore with Tech Mahindra. Under this contract, Tech Mahindra will implement enterprise resource planning (ERP) to support HAL’s ‘Project Parivartan’. The project is aimed at transforming HAL’s ERP system, serving the Armed Forces in an efficient and effective manner. Tech Mahindra would implement this project for nine years. Hindustan Aeronautics is a public sector undertaking company that deals in aerospace and defence. It is headquartered in Bengaluru (Karnataka, India) under the management of the Indian Ministry of Defence.
Besides, Tech Mahindra provides information technology and business process outsourcing services. HAL had reported revenue of Rs 1,736.97 crore in Q1FY21 against Rs 3,291.64 crore in Q1FY20. It had reported a net profit of Rs 151.44 crore in Q1FY21 against Rs 566.14 crore in Q1FY20.
GEPIL bags order for NOx reduction system in Barauni Thermal Power Plant
GE Power India Limited (GEPIL) received an order for nitrogen oxide (NOx) reduction installation at NTPC’s Barauni Thermal Power Plant in Bihar for a total order value of Rs 12.78 crore.
GEPIL will set up the combustion modification technology for all the steam generators in Barauni stage-II, Unit 8 & 9 to meet the NOx emission limit of 450 mg/NM3 to comply with the Indian environmental requirements.
The company also stated that its Durgapur facility in West Bengal will supply the pressure parts and other components that would be procured locally from various sub-vendors.
Earlier, GEPIL had also won a project for combustion modification for NOx control along with, advanced firing system equipment from Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL). The order, worth Rs 43.2 crore, was the first combustion modification for NOx control by any state utilities in India.