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Business Standard
12 minutes ago
- Business Standard
Gujarat remains top exporting state in FY25 with ₹9.83 trn exports: FIEO
Gujarat retained its position as India's top exporting state in 2024-25, with outbound shipments worth Rs 9.83 lakh crore, accounting for 26.6 per cent of the country's total exports, FIEO said on Tuesday. It said despite a marginal dip from the previous year, Gujarat's exports remained significantly ahead of all other states, nearly Rs 4.3 lakh crore more than Maharashtra (Rs 5,57,271 crore), the second-ranked state. Maharashtra is followed by Tamil Nadu, Karnataka, Uttar Pradesh, Andhra Pradesh and Telangana, according to the analysis of the Federation of Indian Export Organisations (FIEO). "In 2024-25, Gujarat reaffirmed its leadership as India's top exporting state, accounting for Rs 9.83 lakh crore, which is 26.6 per cent of the country's total exports," it said. It added that Gujarat's export dominance continues to be driven by a few high-performing districts, with Jamnagar maintaining a commanding lead at Rs 3.63 lakh crore, largely owing to its petroleum and refinery exports. Jamnagar contributes over one-third of the state's total. The top five export commodities from the state are Petroleum Products, Gems and Jewellery, Organic Chemicals, Pharmaceuticals, and Engineering Goods (Machinery). In 2024-25, Uttar Pradesh contributes Rs 1.86 lakh crore to India's total exports of Rs 37.02 lakh crore. This accounts for 5 per cent of the country's total exports, positioning Uttar Pradesh as an important player in India's export landscape. "Uttar Pradesh has demonstrated a commendable diversification in its export markets, reaching both traditional and emerging economies across continents," it said, adding that the US continues to be the top export destination of the state.
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Business Standard
12 minutes ago
- Business Standard
Eris Lifesciences to tap Rs 5,000-cr insulin and semaglutide market in FY26
Ahmedabad-based Eris Lifesciences is looking to tap opportunities in the nearly Rs 5,000-crore Indian insulin market after Danish drugmaker Novo Nordisk announced the withdrawal of its insulin products from the market in April this year. 'We expect that Novo's cartridge inventory in the market will run out by October 2025. So this market opportunity is something that one can start monetising from the November–December time frame,' the company's executive director and chief executive officer (CEO), Krishnakumar Vaidyanathan, told Business Standard. He added that the timing fits Eris' plans, as the cartridge filling capability of its Bhopal unit will start becoming operational from January. Vial manufacturing has already been commissioned at the unit, with the company creating a strategic stock of insulins. This comes at a time when Eris is already the largest domestic player in insulins. The company had acquired the India formulations business of Biocon Biologics last year — including established insulin brands Basalog and Insugen. 'Before the Biocon deal, we had a couple of homegrown insulin brands in the market, which did a combined Rs 60 crore in revenue last year. Basalog and Insugen had combined revenues of Rs 200 crore at the time of acquisition,' he said. He added that, with this, the company's insulin franchise has become significantly larger, with a 10 per cent market share. Eris is also among the prominent drugmakers looking to roll out generic versions of the blockbuster molecule semaglutide once its patent expires around March next year. Semaglutide is a GLP-1 (glucagon-like peptide-1) receptor agonist used as an active pharmaceutical ingredient in medications for obesity management and Type-II diabetes. According to Eris' investor presentation for the June quarter of 2025–26 (Q1FY26), the company is on track to be among the first launches in India in March 2026. The company has initiated validation of synthetic semaglutide cartridges at its European Union (EU)-approved AMD injectables site. 'We are also planning the validation of the recombinant semaglutide in our Bhopal plant later this year,' he added. As far as the go-to-market strategy is concerned, the company said it is already in a strong position because of its dominant presence in insulins and prior presence in the GLP market with the launch of liraglutide in September last year. For Q1FY26, Eris Lifesciences recorded a 40 per cent year-on-year (Y-o-Y) rise in consolidated profit after tax (PAT) to Rs 125 crore. Revenue rose to Rs 773 crore during the June quarter against Rs 720 crore in the year-ago period.
Economic Times
12 minutes ago
- Economic Times
Britannia Q1 profit dips 0.8% YoY; revenue up 8.8%, misses estimates
Biscuit major Britannia Industries Ltd reported a marginal 0.8% year-on-year (yoy) drop in standalone net profit at Rs 498.27 crore for the first quarter ending June 30th, while standalone revenue from operations grew 8.8% YoY at Rs 4,452.74 crore. The performance during the quarter missed street estimates. ADVERTISEMENT The company did not attribute any reason behind the fall in profit. Britannia's managing director Varun Berry said in the earnings release that there was a marginal uptick in consumption across both urban and rural markets in the quarter under review, underpinned by moderating inflation which helped (near) double-digit growth after the last few periods. Berry said as the year progresses, the company's focus will remain on sustaining a healthy growth trajectory while protecting margins amidst a heightened competitive landscape across product categories. "We aim to further reinforce our market leadership through continued investments in brand building and innovations," he said. Britannia's consolidated revenue from operations for the quarter went up by 8.8% yoy at Rs 4,622.22 crore while net profit grew by 3% yoy at Rs 520.13 crore. Consolidated sales for the quarter grew 9.8% at Rs 4,535 said the company had a robust double-digit growth across our focus markets and in adjacent bakery categories such as rusk, wafers and croissant. He said the company's performance during the quarter underscores the effectiveness of its focused execution strategy -- maximizing value from existing outlets, more agile servicing to key stores, and driving operational efficiencies across distribution networks. ADVERTISEMENT On Tuesday, Britannia's shares closed 2.66% down on the BSE at Rs 5,631.35 a piece. The results were declared after market hours. The company in a stock market notice said the board of directors authorized chairman Nusli N. Wadia to sign the results which were submitted to the stock exchanges. (You can now subscribe to our ETMarkets WhatsApp channel)
