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Time of India
32 minutes ago
- Time of India
Vivo V60: Launch date, price, specifications, features, and everything you need to know
Vivo is set to launch the Vivo V60 in India on August 12. The phone features a triple-camera system with ZEISS optics. It is powered by Snapdragon 7 Gen 4 and a 6,500mAh battery. The V60 includes a 50MP main camera and a 50MP selfie camera. It comes in Auspicious Gold, Mist Gray, and Moonlit Blue. Disclaimer Statement: This content is authored by a 3rd party. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein. More
Time of India
3 hours ago
- Time of India
Vedanta to cut cost of financing to 8.5%, says company CFO Ajay Goel
Vedanta will seek to reduce its cost of financing by at least a percentage point through the fiscal, bringing it down to around 8.5 per cent by the end of the year, chief financial officer Ajay Goel said Thursday. Vedanta 's cost of financing was 9.6 per cent at the end of the March quarter, which the resources conglomerate reduced to 9.2 per cent in the June quarter. 'While we delivered our highestever earnings before interest, taxes, depreciation, and amortisation (Ebitda) on a first-quarterly basis, with the falling commodities environment, our focus has been safeguarding margins through cost compression,' Goel told ET in an exclusive interaction. 'Despite pricing being unfavourable, our margin in this quarter vis-a-vis last year is higher by almost 81 basis points, which is a combination of a lower cost and better premium for LME,' he said. To be sure, India's central bank reduced policy rates by a cumulative 100 basis points since February, although the benchmark US-10 year bond yields have remained rather firm through the first half of 2025 in the absence of further lowering of the rates by the Federal Reserve. The company's consolidated revenue from operations rose 6 per cent year-on-year to ₹37,434 crore for the June quarter, while profit for the period was ₹4,457 crore, down 12.5 per cent as compared to the previous year. Vedanta's consolidated Ebitda for the June quarter rose 5 per cent onyear to ₹10,746 crore, while Ebitda margins at 35 per cent were the highest in more than three years. While net debt at the end of the June quarter rose to ₹58,220 crore from ₹53,251 crore at the end of the March quarter, the company's net debt to Ebitda ratio rose to 1.3 times from 1.2 times a quarter ago. At the end of the June quarter a year ago, the company's net debt was ₹61,324 crore, while the net debt to Ebitda ratio was 1.5 times. The aluminium business is currently the largest in terms of both revenue and Ebitda for Vedanta, and it is working on cost efficiencies in this business as well. 'In case of aluminium, our refinery at Lanjigarh will be our single biggest activity to strategically bring costs down,' Goel said. 'If you see over the last eight odd quarters, the cost of production for aluminium has gone down from $2,400 per tonne to almost $1,850, and we will be going down to almost $1,750 by the second or third quarter,' he said. The zinc business in India has historically been the largest for Vedanta, especially in terms of profitability, but aluminium now commands the top spot. These two businesses, both of which are currently expanding production capacities, will continue to bring in about 75 – 80 per cent of profitability for Vedanta, Arun Misra, executive director at the company said. Misra expects the current global trade uncertainties to resolve by the end of the current fiscal, and does not see much of an upside in commodity prices till then. 'Since we are focusing more on our domestic market and India's growth story amongst all emerging economies remains consistent and our government's focus on infrastructure creation is also consistent, we see our growth story going unaffected,' he said. The company's consolidated revenue from operations rose 6 per cent year-on-year to Rs 37,434 crore for the June quarter, while profit for the period was Rs 4,457 crore, down 12.5 per cent as compared to the previous year. Vedanta announced its earnings during market hours on Thursday, and its shares extended losses to close at Rs 425.30 rupees on the BSE, down 2.2 per cent from the previous close.
Economic Times
3 hours ago
- Economic Times
Small brands teach new tricks to FMCG giants
India's fast-moving consumer goods (FMCG) sector, long dominated by legacy giants like Hindustan Unilever (HUL), Nestlé India, ITC and Tata Consumer Products, is undergoing a slow but definite seismic shift. The narrative that big players hold the upper hand in the market is slowly losing its grip, thanks to the recent rise of smaller, regional brands. These disruptors are not only reshaping the competitive landscape by capitalising on a combination of innovation, nimbleness and a deeper understanding of local preferences, they are also teaching a lesson to the big companies which are leanring to do better and different. ADVERTISEMENT "Startups and regional brands are good for the business. They do two things. One, they extend the variety for the consumer, and secondly, they give us additional inspiration for improving, making ourselves faster and smarter," Nestle India's outgoing managing director Suresh Narayanan told PTI in an interview earlier this week. According to Narayanan, today every brand has to be relevant to Gen Z and Gen Alpha consumers, who do not give much importance to the historical relevance of brands. "It goes by what is in it for me, so Maggi noodles have to be relevant to the Gen Z consumer and not simply relevant because my father consumes it. So I think both of these are truths that we have realised as a company and are constantly working on to improve and control the price of our brands so that we do not become irrelevant in the context of the consumption story," he said. As these smaller players continue to eat into the market share of traditional FMCG giants, it's clear that the future of India's FMCG market will be defined by adaptability and agility. "The game is definitely changing; it's changing across the world," Narayanan told ET in a recent interview. "In some parts of the world, big brands are no longer the marquees of quality and consumption. It's the local brands, the house brands." The rise of small FMCG brandsHundreds of regional and direct-to-consumer brands, ranging from noodles and tea to cosmetics and snacks, disrupting and taking share from large players. 1to3 noodles, Rungta tea, Balaji Wafers and Mario biscuits are among local brands disrupting the large of the primary reasons for the rise of small and regional FMCG brands is the changing nature of consumer preferences. In a country as vast and diverse as India, national brands, though well-established, often find it challenging to cater to the unique needs of different regions. Smaller brands, on the other hand, have the advantage of being highly localised. Their focus on specific geographical areas, local tastes and regional customs allows them to craft products that resonate deeply with consumers in those regions. ADVERTISEMENT "These small guys are not saying 'I want to sell one million tonnes'; they're saying 'I want to sell in six localities, in three pin codes'," Narayanan told ET. Legacy companies "really have to learn to think of smaller scale, more nimble, profitable operations, because the large-scale opportunities such as creating another Maggi noodles are going to be very difficult." They need to do multiple small things and fast, he said. Hyper-localisation allows smaller brands to quickly adapt to changing consumer needs and preferences, making them nimbler than the larger players who are often bogged down by their massive brands are also rising because they are able to undercut large FMCG companies on price while maintaining quality. These brands often have lower overhead costs due to their smaller operations and local supply chains, which allow them to offer products at more competitive prices. Moreover, by focusing on specific market segments, they can tweak their offerings and pricing strategies in real-time based on local demand patterns. ADVERTISEMENT Regional brands are also pioneering innovations that cater specifically to local tastes and dietary habits. For instance, in the snacks and beverages category, many have found immense success by tapping into regional preferences and offering products that are perceived as more authentic and closer to the local palate than the standardized products of large FMCG the rise of quick commerce -- platforms that offer rapid, last-mile delivery of goods -- has provided smaller brands with the ability to reach customers in remote and underserved areas, further challenging the established FMCG players who may struggle to match the speed and efficiency of these newer players. The penetration of e-commerce platforms like BigBasket, Blinkit and Amazon has allowed regional brands to establish a direct-to-consumer (D2C) model that bypasses the traditional distribution channels where big compoanies dominate, enabling them to deliver products quickly and affordably. ADVERTISEMENT Investors begin to chase small brandsAs the rise of small brands becomes noticable, even as big companies struggle with low demand, they have cuaght the eye of investors too. About a dozen small, regional consumer brands are either in the process of raising private equity funding or are being pursued by investors keen to acquire minority stakes, executives told ET a few weeks ago. These include Ahmedabad-based frozen food maker Iscon Balaji, skincare brand Dermabay, condiment and noodle brand Moi Soi, Raipur-based Zoff Spices, and soft drink maker Bindu Jeera, as per the ET report. The intense activity in small and mid-sized companies comes at a time when their larger rivals are trailing in finalising acquisitions and broader growth plans as they battle with sluggish demand in India's major mid-sized funding deals were finalised in recent weeks including snacking brand Khari Foods, desserts chain FES Café, and moss-based supplement maker CosMoss. Chandigarh-based Lahori Zeera and dairy and daily essential brand Country Delight too have raised more than Rs 200 crore each in funding. ADVERTISEMENT Executives attribute the surge in investor interest to a combination of factors. 'We thought premium was about affluent metros but it's very much visible in smaller towns. Also, quick commerce and e-commerce have reduced the advantage of legacy brands on distribution and availability,' Kannan Sitaram, co-founder and partner at Fireside Ventures, an early-stage fund, which has invested in Jaipur-based dairy firm Frubon, teen-care beauty brand Sammmm, and Chennai-based Sweet Karam Coffee, among others, told ET. 'It is this opportunity that investors including us are looking at — to build brands based on regional foundations.' Industry trackers said while the bigger consumer transactions have become rare with large companies grappling with slowing sales, especially in cities, it is the smaller ticket deals that have surged. Big brands are learning from small brands Small and rehgional brands have sure disrupted big brands but they are adapting to this disruption. Big FMCG companies are recognising the rising tide of regional brands, and many are seeking to collaborate rather than compete. Nestlé India, for example, has set up an accelerator program to work closely with startups and regional brands. Narayanan's comments reflect a broader industry shift towards collaboration and learning. By partnering with these smaller players, large companies not only gain valuable insights into local market dynamics but also identify opportunities for approach aligns with the growing trend of corporates leveraging startups for faster innovation cycles and new product development. In industries where the life cycle of new products is shrinking, large FMCG companies are increasingly turning to nimble startups to bring fresh ideas and technologies into their portfolio. Whether it's through partnerships, acquisitions or joint ventures, big brands are acknowledging that smaller, regional players are an essential part of their future said regional competition is good for the industry. "It keeps companies from getting complacent," he told ET. "Yes, they're playing the pricing game but what we can bring to the table is much wider." He said "companies have to increasingly work on keeping their brands relevant," and stressed the need for accelerating premiumisation. While keeping affordability intact, there are "enough opportunities for premiumisation in chocolates, milk and nutrition, coffee, pet foods," he said. To stay relevant in an increasingly more fragmented, dynamic and competitive environment, FMCG giants must embrace new technologies, adopt faster go-to-market strategies, and ensure that their products remain aligned with changing consumer tastes. This also means developing a more robust digital presence, leveraging e-commerce platforms, and engaging with consumers directly through D2C channels. Moreover, companies need to embrace regional diversity in their offerings. Customizing products to fit local preferences, collaborating with local innovators, and building brand loyalty through hyper-local marketing strategies are now essential to maintaining market share. (You can now subscribe to our Economic Times WhatsApp channel)
