
Nearly half of IIM Lucknow's 2025 batch comes from non-engineering backgrounds
The IIM Lucknow has officially begun its new academic session for 2025, welcoming 643 students across its prestigious postgraduate and doctoral programmes. The new batch brings in a rich mix of academic backgrounds, with a nearly equal split between engineering and non-engineering students. This is a departure from the usual trend of a majority of management students coming from engineering backgrounds.advertisementAccording to research by QS-IGAUGE, a large share of management (MBA/PGDM) students in India have an engineering background. At top institutions like the IIMs, around 75% to 80% of the student intake consists of engineering graduates. Of these, nearly 30% to 35% are alumni of premier engineering institutes like the IITs and NITs.This reflects a long-standing trend in Indian education, where engineering is commonly viewed as a stepping stone to a management career offering wider professional opportunities. But this year, IIM Lucknow has recorded a reversal of the trend.
In the new academic year, 50.70% of students are from engineering backgrounds and 49.30% from non-engineering disciplines, highlighting a strong emphasis on academic diversity. In terms of gender representation, 30% of the incoming cohort are women.The PGP and PGP-ABM courses also showcase varied experience levels, while 32% of students in the PGP programme are freshers, the PGP-ABM programme sees a majority of 68% freshers, indicating interest from early-career aspirants in both general and niche management fields.advertisementThe new academic year was formally inaugurated in a ceremony attended by Ananth Narayan G, Whole-Time Member of the Securities and Exchange Board of India (SEBI) and an alumnus of IIM Lucknow's Class of 1993.The event also saw participation from senior faculty members including Prof Sanjeet Singh (Dean, Faculty), Prof Sanjay K. Singh (Dean, Programmes), Prof Pushpendra Priyadarshi (Chairperson, Doctoral Programme), Prof Dipti Gupta (Chairperson, PGPSM), and Prof Alok Dixit (Chairperson, PGP).INDUSTRY EXPOSURE AND INDUCTIONAs part of their induction programme, students will participate in interactive sessions with industry experts and academicians. These sessions are designed to familiarise them with opportunities for professional development and personal growth, reinforcing IIM Lucknow's commitment to producing well-rounded leaders.Welcoming the incoming cohort, Prof Sanjeet Singh, Dean of Faculty, encouraged students to embrace intellectual curiosity and emotional intelligence.'At IIM Lucknow, what will set you apart is your ability to think critically, challenge assumptions, and approach problems with both emotional intelligence and clarity of mind,' he said.He also praised the diversity of the new batch, stating that students hail from backgrounds such as engineering, arts, commerce, and more. He added, 'Over the next two years, IIM Lucknow will offer you the opportunity to grow, collaborate, and discover your unique perspective.'advertisementIIM Lucknow aims to nurture the new batch with academic excellence, interdisciplinary learning, and leadership development.With nearly half of the batch coming from non-engineering streams and 30% being women, the 2025 cohort represents IIM Lucknow's growing focus on inclusivity and holistic talent development.- Ends

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Time of India
4 minutes ago
- Time of India
IIT-Madras eyes global top 50 with major expansion plans
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Mint
12 minutes ago
- Mint
DMart eyes higher margins via private labels as quick commerce grows
Bengaluru:Avenue Supermarts Ltd, which operates the DMart retail chain, is expanding its private label portfolio beyond food staples and packaged groceries into home and personal care (HPC) categories, as it looks to improve margins amid rising quick commerce competition and sluggish consumer spending. This move mirrors a broader trend in value retail, where private labels are increasingly being used to drive affordability and protect margins. Private labels are in-house brands often sold at lower prices and are owned and sold exclusively by a retailer. 'Fast moving consumer goods (FMCG) companies are expandingtheir product lines and trying new things, like HUL is cutting back on palm oil, and Nestle teaming up with a drug company for a new recipe," said an equity research analyst working in a Mumbai-based brokerage firm who did not want to be named. Dmart's rival Tata Trent Star Bazaar has built a successful private label category which has more than doubled its revenue from ₹1,798 crore in FY23 to ₹2,699 crore in FY25. In categories where private labels are offered, they now contribute over 70% of sales, up from around 60% two years ago. Vishal Mega Mart, which has a strong presence in tier-II and tier-III cities, reported revenue of ₹10,716.3 crore in FY25. While the company does not break out private label contribution in its financials, industry estimates suggest that 65-70% of its sales come from in-house brands across apparel, footwear, and general merchandise. DMart has started expanding its private labels in categories such as detergents, beverages, soaps, and biscuits under various brand names such as 'Star Bright", 'Sparkle", and 'Bisky Bites", which compete with similar product lines from some of the country's largest fast-moving consumer goods (FMCG) players, including Hindustan Unilever (HUL), Nestlé, and ITC. Mails sent to DMart did not elicit a response until press time. 'DMart is attempting to increase its gross margins by adding private labels in more categories (HPC, foods); this may only partly offset QC-induced footfall and cost pressure," according to a Kotak Institutional Equities Report written by Garima Mishra and Ishaini Swain on 23 June. Private labels According to the report, these private labels now occupy 20-30% of shelf space in select product categories at DMart outlets. The retailer previously restricted private labels to its staple product category under the 'Premia" brand, which was started in 2002. According to the report, these private labels are priced about 30-70% lower than some of the branded FMCG products. This underscores the retailer's vision to sell everyday products at 'everyday low prices" to Indian consumers. For example, its private label detergent, Star Bright, costs ₹72 per kg, while P&G's Tide costs ₹125 per kg. Similarly, the retailer's mango juice under the Go Fruit brand sells at ₹34 compared to Parle Agro's Frooti. Founded by billionaire Radhakishan Damani in 2000, DMart opened its first store in Powai, Mumbai, in 2002. Today, it is India's largest retail chain, with a market capitalisation of ₹2.8 trillion. The company went public in 2017 and has built its success by offering consistently low prices. DMart pays wholesalers upfront, often ahead of industry payment cycles and secures deeper discounts, which it passes on to consumers. The company is currently navigating a phase of transition, facing twin challenges: a change in leadership and intensifying competition from quick commerce players. Longtime chief executive officer Neville Noronha, who has been instrumental in building DMart into India's most valuable retail chain, is expected to step down by 2026. He will be succeeded by Anshul Asawa. 'It seems like Asawa might have a significant challenge ahead given the high benchmark that Noronha has set," said the analyst based in Mumbai. The retailer's aggressive push into private labels also coincides with the rapid rise of quick commerce players such as Zomato's Blinkit, Swiggy's Instamart, and Zepto, which have been making inroads in several cities, especially in tier-II and tier-III cities, where DMart has limited presence. According to the Kotak report, there are over 100 cities where one or more quick commerce platforms have a presence, but DMart does not. 'Quick commerce is outpacing DMart Ready, which operates more like traditional e-commerce with one- to two-day delivery. In contrast, quick commerce players deliver within minutes," said the analyst. Increasing coverage DMart currently has stores across 152 cities, while Blinkit operates in 194 cities, followed by Instamart and Zepto that are present across 116 and 73 cities.'In urban and metro markets, quick commerce has high penetration, but DMart is present even in places where Q-commerce hasn't reached, so I think it will be able to keep up with rising competition," said Pratik Prajapati, equity research analyst at Ambit. Despite its value positioning, DMart's profitability has come under strain in recent years. According to the company's FY25 financials, the company's Ebitda margin, a profitability metric that indicates the company's operating performance, declined from 8.5% in FY23 to 7.6%, even as gross margins remained steady at 14.8%. 'The main reason for this drop is due to rising employee costs," said the analyst. The employee cost now accounts for 6% of revenues, up from 5.4% two years ago. 'The private labels tend to be cheaper, and if the consumers are satisfied with the quality of the products, the expansion will deepen further," said the analyst. 'In the long term, this can impact the margins of some of the branded FMCG goods." The private label push is also supported by DMart's ongoing store expansion. DMart added 50 stores in FY25 and plans to open about 75 new stores over the next three years, according to the Kotak report on 23 June 2025. States like Uttar Pradesh and Odisha are expected to be key focus areas. The company recently entered Agra, marking its first expansion into the state beyond Ghaziabad. The company clocked a revenue of ₹59,358 in FY25, a 16.9% increase over the previous fiscal year. The company's net profit jumped 6.7% from ₹2,536 crore in FY24 to ₹2,707 crore in FY25. 'Private labels not only improve margins but also give customers more choice within a price band," said Prajapati. 'If customers are satisfied with the quality, they are likely to stick with the brand over time." 'As they gain acceptance, we're already seeing revenue pressure on traditional FMCG brands. Brand cannibalisation will likely continue as competition intensifies", said the analyst who did not want to be named.


Time of India
21 minutes ago
- Time of India
Big FOMO! Investors Bring ₹1.8 lakh cr to ₹15,600 cr IPO Party
One of the busiest weeks in the Indian market for initial public offerings ended on a strong note, with all five issues launched over the past five days witnessing robust investor demand, especially from institutions. The IPOs of HDB Financial Services, Kalpataru, Ellenbarrie Industrial Gases, Sambhv Steel Tubes and Globe Civil Projects received bids totalling more than ₹1.85 lakh crore, nearly 12 times the ₹15,600 crore worth of shares they are offering to sell. The ₹12,500 crore HDB Financial IPO—the largest public issue by a non-banking financial company—closed Friday with investors bidding for 16.69 times the shares the company is offering. It received bids worth ₹1.52 lakh crore, the highest among billion-dollar Indian IPOs since Zomato's issue four years ago. The company is offering to sell 130.4 million shares, while the demand is for 2.18 billion shares. Qualified institutional buyers (QIBs) put in bids for 55.47 times the shares reserved for them. Retail investors bid for 1.41 times their portion, while the non-institutional, or HNI, category received subscriptions for 9.99 times. Sambhv Steel Tubes' ₹540 crore IPO, which also closed on Friday, was subscribed 28.46 times. The QIB category was subscribed 62.32 times, non-institutional category by 31.82 times and the retail investor portion by 7.99 times. The ₹1,590 crore IPO of Kalpataru received bids for 2.26 times, while Ellenbarrie Industrial Gases' ₹852-crore issue got 22.19 times and Globe's ₹119 crore issue received 86 times. These three issues closed Thursday. Investment bankers said institutional investors, mainly mutual funds and foreign investment vehicles, were among those most actively bidding for the IPOs. "Domestic institutions such as mutual funds are flush with liquidity and are finding IPOs an additional avenue to invest currently, apart from investing significantly in the secondary market. Even the FPIs are actively investing in good quality IPOs,' said Kotak Investment Banking MD V Jaya Sankar. Two dozen companies have raised close to ₹45,300 crore through IPOs so far in 2025, according to The improved stock market sentiment is encouraging more companies to hit the primary market. 'As the primary market moves in tandem with the secondary market, this may translate into more launches with better subscriptions and listing gains in the current bullish environment,' Prime Database Group MD Pranav Haldea said. 'The retail interest in upcoming issues will likely hinge on the prospect of listing gains.' Haldea said IPOs worth ₹2.5-3.0 lakh crore are in the pipeline, including those that have received regulatory approval, those awaiting the regulator's green signal, and those set to file the IPO documents in the coming weeks. As per data from at least 73 companies have received approval from the Securities and Exchange Board of India to launch IPOs, with the total amount to be raised estimated at ₹1.2 lakh crore. Another 70 companies have filed draft red herring prospectus with Sebi and may raise another ₹99,500 crore.