Latest news with #GreenEdge
Arab News
a day ago
- Business
- Arab News
Saudi Cycling Federation signs strategic partnership with global cycle powerhouse
RASHID: The Saudi Cycling Federation has signed a strategic partnership agreement with GreenEdge Cycling that will transform the sport in the Kingdom by raising technical standards, and developing both male and female athletes. The agreement includes technical support based on GreenEdge's global expertise and capabilities, Saudi Press Agency reported on Friday. In an important step in the development of cycling in the Kingdom, the partnership aims to enhance athletes' skills and abilities, striving to achieve professional technical standards and notable accomplishments in international arenas. SACF President Abdulaziz Al-Shahrani said that the partnership with GreenEdge Cycling reflects the federation's aim of strengthening international collaborations and expanding growth opportunities. He described it as a milestone in transforming cycling in Saudi Arabia into a competitive and sustainable sport with a strong technical presence on the global stage. Al-Shahrani also expressed gratitude for the support extended to the sports sector by the Saudi leadership and the follow-up by Minister of Sport Prince Abdulaziz bin Turki bin Faisal, president of the Saudi Olympic and Paralympic Committee, who is committed to advancing Saudi clubs and national teams across all sports. With over 180 competitors across four different teams — men and women's UCI WorldTour Teams plus men and women's UCI Continental teams — GreenEdge Cycling has a wealth of knowledge and experience to offer the Saudi federation. The partnership will create a new system and pathway for the federation to grow into a world-leading and results-based organization, a statement by GreenEdge Cycling said. Commenting on partnership, Brent Copeland, GreenEdge Cycling general manager, said: 'We are happy to share the news of this partnership with the Saudi Cycling Federation. There's a lot of untouched talent within the Kingdom and we are delighted to be involved with and support their development. Providing the Saudi Cycling Federation with access to our extensive resource pool, we are confident that we can help make a real impact and assist in the growth of cycling within the nation. 'Already through our naming rights partner, AlUla, we have had the opportunity to make a change and support with the development of talent, with the likes of Moroj Adil, the first female Saudi rider to join a UCI Continental Team, as she races with our Liv AlUla Jayco Continental team setup. It is inspiring for all involved as we look ahead and to helping future generations,' he added.
The Wire
6 days ago
- Business
- The Wire
Zaggle buys two companies in a single day, pumps Rs. 150 crore
• The company is set to acquire a 100% stake in Dice and GreenEdge • The company has made four acquisitions in the last four months, infusing about Rs. 215 crore MUMBAI, India, June 9, 2025 /PRNewswire/ — Zaggle Prepaid Ocean Services Limited, India's leading spend management company, is set to acquire a 100% stake … Continue reading "Zaggle buys two companies in a single day, pumps Rs. 150 crore"
Yahoo
6 days ago
- Business
- Yahoo
Zaggle buys two companies in a single day, pumps Rs. 150 crore
The company is set to acquire a 100% stake in Dice and GreenEdge The company has made four acquisitions in the last four months, infusing about Rs. 215 crore MUMBAI, India, June 9, 2025 /PRNewswire/ -- Zaggle Prepaid Ocean Services Limited, India's leading spend management company, is set to acquire a 100% stake in Dice and GreenEdge Enterprises for ₹150 crore. These consecutive acquisitions will enhance Zaggle's presence in the Indian market, significantly broaden its portfolio of advanced spend management solutions and further strengthen its offerings in the loyalty, rewards and travel segments. With this acquisition, Zaggle has completed four strategic takeovers in the past four months, totalling nearly ₹215 crore. These moves align with the company's ambition to become a $1 billion revenue enterprise within the next five to seven years. Zaggle is strategically deploying the ₹595 crore raised through its Qualified Institutional Placement (QIP) to acquire companies that are product-accretive, geography-accretive, or EBITDA-accretive, while ensuring sustained positive returns on equity and investments. Incorporated in 2018, Dice is a Pune-based AI-driven enterprise spend management platform, specializing in Spending as a Service. Its suite of solutions encompasses travel and expense management, accounts payable management and procurement management solutions. Its unified platform offers seamless self-booking, approvals and reconciliations with built-in policy controls, streamlining the entire spend cycle for businesses. The company has demonstrated consistent growth over the last two years, clocking a turnover of over Rs. 6 crores in FY24. The acquisition of Dice will significantly enhance Zaggle's existing product portfolio, transforming it into a more comprehensive and integrated suite of spend management solutions. Through this acquisition, Zaggle will gain access to Dice's established customer base, which includes prominent enterprises such as Tata AIA, Bajaj Electricals and DTDC, further reinforcing its market presence. The combined capabilities will not only deepen Zaggle's reach within the Indian market but also create new opportunities to deliver its advanced solutions on a global scale. GreenEdge Enterprises, on the other hand, is a specialized solution provider for golf travel, unique experiences and access-based rewards. With its stronghold in India, the company achieved a turnover of Rs. 19.82 crores in FY24. This acquisition will enhance Zaggle's product offerings in the loyalty and rewards and travel segment, providing a substantial boost to its Propel offering. Zaggle had recently announced the acquisition of a 51% Controlling Stake in EffiaSoft and a 38.34% stake in Mobileware Technologies. The company had recently reported a consolidated profit after tax (PAT) of Rs. 87.4 crore for FY25, up from Rs. 44 crore in FY24. About Zaggle Founded in 2011, Zaggle (BSE: 543985) (NSE: ZAGGLE) is a leading player in spend management, offering a differentiated value proposition with a diversified user base. Operating within the business-to-business-to-customer (B2B2C) segment, Zaggle stands out as one of the few companies with a comprehensive range of financial technology products and services. Zaggle is one of India's top issuers of prepaid cards, collaborating with banking partners to drive its card offerings. The company also boasts a diverse portfolio of SaaS products and an extensive network of touchpoints. As of March 31, 2025, Zaggle has issued over 50 million prepaid cards, serves more than 3,400 corporate enterprise clients and supports a user base exceeding 3.2 million. With a robust corporate client base spanning various industries, including banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure and automobiles, Zaggle is well-positioned as a leading player in the spend management sector. For more information, please visit the company website or follow us on LinkedIn View original content: Sign in to access your portfolio
Yahoo
24-05-2025
- Business
- Yahoo
JSW Steel Ltd (BOM:500228) (Q4 FY 2025) Earnings Call Highlights: Record Production and ...
Consolidated Revenue: INR44,819 crores for Q4 FY '25. Operating EBITDA: INR6,378 crores for Q4 FY '25. EBITDA Margin: 14.2% during the quarter. Profit After Tax: INR1,501 crore, doubled over the previous quarter. Crude Steel Production: 7.63 million tonnes, up 12% Y-o-Y and 9% Q-o-Q. Steel Sales: 7.49 million tonnes, up 11% Y-o-Y and 12% Q-o-Q. Domestic Sales: 6.72 million tonnes, grew by 30% Y-o-Y and 12% Q-o-Q. Net Debt Reduction: INR4,350 crores due to better cash generation and working capital release. CapEx: INR3,700 crores during the quarter and close to INR15,000 crores for FY '25. JSW One GMV: INR12,500 crores for FY '25, up 2.4x Y-o-Y. Overseas Operations EBITDA: Baytown mill USD4.4 million; Ohio operations reduced losses to USD7.5 million; Italian operations EBITDA loss of EUR 0.7 million. Warning! GuruFocus has detected 9 Warning Signs with BOM:500228. Release Date: May 23, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. JSW Steel Ltd (BOM:500228) reported the highest-ever quarterly crude steel production at 7.63 million tonnes, marking a 12% year-over-year increase. The company achieved its highest-ever steel sales at 26.5 million tonnes for FY '25, with domestic sales growing by 30% year-over-year. JSW Steel Ltd (BOM:500228) launched GreenEdge, a low-emission steel brand, contributing to over 1 million tonnes of CO2 savings. The company received responsible steel certification for four plants and was recognized as a 2025 Sustainability Champion by the World Steel Association. JSW Steel Ltd (BOM:500228) plans to enhance raw material security by commissioning new mines in Karnataka and Goa, targeting significant production increases. The company faced a sharp decline in exports by 27% to 6.3 million tonnes, resulting in India remaining a net importer for the second consecutive year. JSW Steel Ltd (BOM:500228) is dealing with legal challenges regarding its resolution plan for BPSL, with the Supreme Court rejecting the plan and directing refunds. The Italian operations were impacted by delayed orders and rail system congestion, resulting in an EBITDA loss of EUR 0.7 million. The company's net debt increased by around INR4,350 crores, despite better cash generation and working capital release. There are ongoing geopolitical tensions and tariff escalations affecting the global economy, which could impact future growth. Q: Can you provide clarity on the Supreme Court's decision regarding BPSL and its impact on production and sales? A: The matter is sub judice, but we have implemented the resolution plan in compliance with the law. We have strong grounds for legal remedies, and production and sales at BPSL continue as we maintain control of the assets. - Jayant Acharya, CEO, Joint MD & Whole-Time Director Q: What is the expected contribution of JVML to standalone sales, considering the BF-3 shutdown? A: JVML is expected to contribute about 3.5 million tonnes of incremental production this year. Despite the BF-3 shutdown, we anticipate improved production due to the ramp-up at JVML and other operational improvements. - Jayant Acharya, CEO, Joint MD & Whole-Time Director Q: Could you elaborate on the cost and realization outlook for the near term? A: We anticipate a $10 to $15 reduction in coking coal costs, and JVML's stabilization will lower costs. Renewable energy initiatives will also reduce power costs. We expect a price improvement of INR3,200 to INR3,250 per tonne in Q1 FY '26. - Jayant Acharya, CEO, Joint MD & Whole-Time Director Q: What is the strategy for iron ore sourcing and the expected captive versus non-captive mix for FY '26? A: We aim for 40% of our iron ore requirement to be met from captive sources in FY '26, up from 37% in FY '25. We are increasing production from Karnataka and starting operations in Goa to offset surrendered mines. - Jayant Acharya, CEO, Joint MD & Whole-Time Director Q: How do you plan to manage the debt levels given the current net debt-to-EBITDA ratio? A: The ratio has improved from 3.57 to 3.34. As EBITDA normalizes with improved pricing, we expect further improvement in these ratios. The increase in net debt is primarily due to a lower EBITDA base, which is expected to correct. - Swayam Saurabh, CFO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
