Latest news with #Dussehra
Time of India
a day ago
- Automotive
- Time of India
Erratic rains & low farm income hit entry-level bike sales: HMSI
Erratic rains and stagnating farm incomes hit motorcycle sales, especially at the entry-level, impacting overall two-wheeler volumes in the June quarter, said a top executive at Honda Motorcycle & Scooter India (HMSI), the country's second largest two-wheeler maker. The executive is however optimistic of a demand revival in the coming months in line with the onset of the festive season. Two-wheeler sales fell by 6% on-year to 4.67 million units in the first three months of this financial year. While scooter sales remained almost flat at 1.66 million units, those of motorcycles dropped by 9% to 2.9 million units. Entry motorcycles having up to 110cc engines comprise 45% of all motorcycles sold in the country. Speaking to ET, Tsutsumu Otani, president, HMSI, said while the Indian two-wheeler market is expected to record growth in FY26, it will fall short of the peak of over 21 million units recorded in FY19 prior to the pandemic. Two-wheeler sales grew by 9% to 19.61 million units last fiscal. 'While the market for scooters has been mostly growing, demand for motorcycles is under pressure, especially at the entry-level. These motorcycles are mostly sold in rural areas, where the growth in farm income is not so good,' said Otani. 'Rains too have been erratic, excess in some parts and scanty in others, which has also affected demand.' According to an analysis of data compiled by the Commission for Agricultural Cost and Prices (CACP), farmers have been hit by stagnating incomes and declining profit margins. For nearly all major crops, the growth in agricultural income has not kept pace with the rural inflation rate, denting consumption. Otani expects demand momentum in rural and semi-urban markets to pick up post monsoons, and at the onset of the festive season. 'Customers in rural and semi-urban areas still tend to wait and make purchases during festivals like Dussehra and Diwali. Among buyers in urban markets, the propensity to make purchases during this period is not as much,' he noted. In addition to petrol-powered motorcycles and scooters, Otani said he sees further growth opportunities for electric scooters in the medium to long-term, depending on the pace of development in charging infrastructure. Otani also said HMSI sees a lot of opportunity to enhance sales to women buyers, given a large number of this population enters the workforce every year. Women buyers prefer electric scooters, given the ease and comfort of riding them, he said adding, male buyers currently comprise about 90% of its sales. Overall, Otani said HMSI is aiming to boost its domestic market share to 30% by the turn of the decade from 27% currently. The company will introduce multiple products in an effort to drive sales, he said without elaborating. The company will also continue to keep its focus on profitability, Otani said. HMSI's local sales grew by nearly 18% to 5.33 million units last fiscal. Rival Hero MotoCorp sold 5.61 million units in the same period.
Time of India
a day ago
- Automotive
- Time of India
Erratic rains & low farm income hit entry-level bike sales: HMSI
Erratic rains and stagnating farm incomes hit motorcycle sales, especially at the entry-level, impacting overall two-wheeler volumes in the June quarter, said a top executive at Honda Motorcycle & Scooter India (HMSI), the country's second largest two-wheeler maker. The executive is however optimistic of a demand revival in the coming months in line with the onset of the festive season. Two-wheeler sales fell by 6% on-year to 4.67 million units in the first three months of this financial year. While scooter sales remained almost flat at 1.66 million units, those of motorcycles dropped by 9% to 2.9 million units. Entry motorcycles having up to 110cc engines comprise 45% of all motorcycles sold in the country. Explore courses from Top Institutes in Select a Course Category Data Analytics Management PGDM Public Policy Others Project Management Product Management Design Thinking Healthcare MBA Artificial Intelligence healthcare Finance others MCA Data Science Degree CXO Data Science Digital Marketing Leadership Technology Operations Management Cybersecurity Skills you'll gain: Data Analysis & Visualization Predictive Analytics & Machine Learning Business Intelligence & Data-Driven Decision Making Analytics Strategy & Implementation Duration: 12 Weeks Indian School of Business Applied Business Analytics Starts on Jun 13, 2024 Get Details Speaking to ET, Tsutsumu Otani, president, HMSI, said while the Indian two-wheeler market is expected to record growth in FY26, it will fall short of the peak of over 21 million units recorded in FY19 prior to the pandemic. Two-wheeler sales grew by 9% to 19.61 million units last fiscal. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This New AC Cooler Cools the Room In Seconds dailygadgetreviews Undo 'While the market for scooters has been mostly growing, demand for motorcycles is under pressure, especially at the entry-level. These motorcycles are mostly sold in rural areas, where the growth in farm income is not so good,' said Otani. 'Rains too have been erratic, excess in some parts and scanty in others, which has also affected demand.' According to an analysis of data compiled by the Commission for Agricultural Cost and Prices (CACP), farmers have been hit by stagnating incomes and declining profit margins. For nearly all major crops, the growth in agricultural income has not kept pace with the rural inflation rate, denting consumption. Live Events Otani expects demand momentum in rural and semi-urban markets to pick up post monsoons, and at the onset of the festive season. 'Customers in rural and semi-urban areas still tend to wait and make purchases during festivals like Dussehra and Diwali. Among buyers in urban markets, the propensity to make purchases during this period is not as much,' he noted. In addition to petrol-powered motorcycles and scooters, Otani said he sees further growth opportunities for electric scooters in the medium to long-term, depending on the pace of development in charging infrastructure. Otani also said HMSI sees a lot of opportunity to enhance sales to women buyers, given a large number of this population enters the workforce every year. Women buyers prefer electric scooters, given the ease and comfort of riding them, he said adding, male buyers currently comprise about 90% of its sales. Overall, Otani said HMSI is aiming to boost its domestic market share to 30% by the turn of the decade from 27% currently. The company will introduce multiple products in an effort to drive sales, he said without elaborating. The company will also continue to keep its focus on profitability, Otani said. HMSI's local sales grew by nearly 18% to 5.33 million units last fiscal. Rival Hero MotoCorp sold 5.61 million units in the same period.
News18
4 days ago
- Entertainment
- News18
Circle: Kangana Ranaut and R Madhavan To Reunite After 10 Years, This Time For A Thriller
Last Updated: Kangana Ranaut and R. Madhavan reunite after a decade in 'Circle', a multilingual psychological thriller set for a Dussehra release Actors Kangana Ranaut and R. Madhavan, who won hearts with their chemistry in Tanu Weds Manu (2011) and its 2015 sequel, are set to return to the screen together after nearly ten years. Their upcoming project, a psychological thriller titled Circle, marks a highly anticipated reunion for fans. 'Circle' – A Multilingual Psychological Thriller According to a report by Deccan Chronicle, the upcoming movie Circle is a pan-India film shot simultaneously in Hindi, Tamil, and Telugu. The production has been underway for about a year, and the filming is now in its final stages. The last scenes were reportedly shot at Club Illusion in Jubilee Hills, Hyderabad, Telangana. Filming Locations And Production Details This psychological thriller has been filmed across various locations in India, including Ooty, Jaipur, Chennai, and Hyderabad. The film is being produced by Tident Art's Ravindran, who confirmed the title and praised Kangana Ranaut's popularity, particularly in the southern states. He also noted that the film is unlike anything audiences have seen before in this genre. An Unprecedented Thriller And Mysterious Characters Insiders have described Circle as a first-of-its-kind psychological thriller, sparking curiosity among fans about the nature of the characters and plot. With both Kangana Ranaut and R Madhavan known for their strong performances, anticipation is high for what promises to be an intense and gripping cinematic experience. Dussehra Release Expected The makers are aiming to release Circle around Dussehra this year, making it one of the most awaited films of the festive season. Audiences can look forward to seeing Kangana Ranaut and R Madhavan in a completely new light, portraying complex roles that are a departure from their previous romantic pairings. Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
5 days ago
- Business
- Time of India
ChrysCapital to acquire Theobroma: From one store to pan India bakery chain, how two sisters built Rs 2400 crore empire
Theobroma success story: In a major development in the Indian bakery market, ChrysCapital is all set to acquire 90% stake in Mumbai-based pan-India Indian bakery brand Theobroma, according to an ET report. This landmark acquisition is valued at around Rs 2,410 crore and is currently awaiting approval from the Competition Commission of India (CCI). ChrysCapital affiliates — Aqua Investments Ltd, Infinity Partners, and Atreides Investments BV — will acquire shares from Theobroma's original promoters and current investor, ICICI Venture. ChrysCapital's Big Bet on India's QSR and Café Sector This investment reflects ChrysCapital's strategic vision to expand its portfolio in India's rapidly growing quick-service restaurant (QSR) and café segment. This sector is bouncing back strongly post-pandemic and is seeing increasing demand from urban consumers. ICICI Venture, which invested in Theobroma back in 2017 by buying a 42% stake for about Rs 130 crore, will make a full exit with this transaction. The Messman Sisters to Retain Minority Stake and Operational Role Despite the majority acquisition, the Messman family, who founded Theobroma, will retain a 10% shareholding and continue to play an active role in managing operations. The CCI is reviewing the deal, and since none of the acquiring firms are involved in the bakery or food business, no competition concerns are expected. The entities clarified that there is no market overlap, and the deal won't affect fair competition in the sector. The Humble start of Theobroma Theobroma's story began in 2004 when sisters Kainaz Messman Harchandrai and Tina Messman Wykes launched a small bakery in Mumbai's Colaba. With initial funding of Rs 1.5 crore from their father, they opened their first store on the day of Dussehra. The name 'Theobroma', which means 'food of the gods' in Greek, was suggested by a friend. It perfectly captured their ambition to offer premium European-style desserts to Indian customers. A dream baked after adversity The idea for Theobroma came to Kainaz Messman Harchandrai after she suffered a back injury while working as a pastry chef at The Oberoi Udaivilas. With formal training from Le Cordon Bleu, London, and work experience at the Oberoi Hotels, she already had the skills for a gourmet bakery. Their entrepreneurial journey was inspired by their childhood — they grew up helping their mother in her small home-run baking business. But back then, the sisters never imagined that they were about to build one of the country's biggest bakery brands. Growing from local favourite to national bakery chain In the early days, Theobroma struggled with expansion and funding. Maintaining quality came with high costs, and they didn't get their first major loan of Rs 5 crore until 2014, nearly a decade after they started. Despite financial hurdles, Theobroma gained rapid popularity thanks to its signature brownies, cakes, cookies, and sandwiches. By focusing on quality ingredients and affordable pricing, the brand carved a niche among urban youth craving European-style baked goods. From just 50 stores before the pandemic, Theobroma now has 225 outlets across over 30 Indian cities, including Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Pune and Chandigarh. The brand is also a big player in online delivery platforms and food aggregators. Theobroma's financial growth and valuation According to reports, Theobroma recorded Rs 400 crore in revenue in FY24, with an adjusted EBITDA of Rs 60 crore. For FY25, it is estimated to earn between Rs 525-550 crore in revenue and an EBITDA of Rs 80-100 crore. ChrysCapital reportedly reopened acquisition talks at a price lower than the Rs 3,000 crore valuation originally sought by the promoters, finally settling at Rs 2,410 crore, as reported in ET. From brownie brand to Rs 2,400 crore empire What started as a small brownie shop run by two passionate sisters has now turned into a Rs 2,400 crore Indian bakery empire. The journey of Theobroma, driven by the dedication of Kainaz Messman Harchandrai and Tina Messman Wykes, is a true example of entrepreneurial spirit and resilience. Their story, beautifully captured in Kainaz's book, 'The Theobroma Story: Baking a Dream,' serves as an inspiration for young entrepreneurs across India. For the latest and more interesting financial news, keep reading Indiatimes Worth. Click here.
New Indian Express
6 days ago
- Business
- New Indian Express
Festive season to generate over 2.16 lakh jobs this year, compensation levels expected to rise
BENGALURU: Over 2.16 lakh seasonal jobs will be generated during the festive season, which begins from next month. Also, hiring demand for gig and temporary employment will be up 15-20% compared to last year during H2 2025. Ecommerce giants Flipkart and Amazon have already announced their sales and with Raksha Bandhan and Dussehra around the corner, hiring in sectors such as retail, ecommerce, BFSI, logistics & hospitality is gaining momentum. Many companies are advancing their hiring cycles to stay ahead of demand and ensure operational readiness for what is expected to be a stronger-than-usual festive period, said Adecco India. This year's hiring uptick is being driven by improved consumer sentiment, a favourable monsoon boosting rural demand, post-election economic optimism, and aggressive seasonal promotions, it added. Delhi NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Kolkata, and Pune continue to lead in seasonal hiring demand—up 19% from last year. Also, tier 2 cities such as Lucknow, Jaipur, Coimbatore, Nagpur, Bhubaneswar, Mysuru, and Varanasi are witnessing a 42% increase in demand. Adecco finds that there has been growing traction in emerging hubs such as Kanpur, Kochi, and Vijayawada, indicating a broader geographic spread of festive hiring. Compensation levels are also expected to rise by 12-15% in metro markets and by 18-22% in emerging cities. About 23% more women are participating in this seasonal hiring wave compared to previous years.
