Latest news with #Lodha
Time of India
12 hours ago
- Business
- Time of India
Maha govt to seek help of private companies to upgrade its ITIs
1 2 3 Nagpur: To address the growing demand for skilled manpower in emerging sectors like solar energy and electric vehicles, the Maharashtra govt has announced a new policy to upgrade its industrial training institutes (ITIs) through private partnerships. Speaking at a seminar, skill development minister Mangal Prabhat Lodha said the policy is aimed at transforming govt ITIs into world-class training centres with the active involvement of private industry. "The pace of industrial change is rapid, and new technologies require new skills. We want to equip our youth accordingly," he said. The minister revealed that the state has 418 govt-run ITIs and nearly 600 in the private sector. "Training must align with actual job market needs," Lodha added. "We've studied the gaps and launched this policy to overcome gaps by partnering with industry." Under the scheme, industries, industrial associations, PSUs, and NGOs can adopt ITIs. Tenure options include 10 years with Rs10 crore investment or 20 years with Rs20 crore. MITRA (Maharashtra Institution for Transformation) will act as the strategic partner for implementation. Lodha assured the govt's commitment to provide technically skilled young manpower through ITIs and urged private companies to come forward with confidence to partner in this modernisation effort. This initiative involves multiple stakeholders including Ratan Tata Maharashtra State Skill University, Maharashtra State Skill Development Society, and others. Advantage Vidarbha's Ashish Kale expressed hope that the policy will meet the growing demand for skilled manpower driven by new industries in the Vidarbha region, supported by investments encouraged by leaders like chief minister Devendra Fadnavis and Union minister Nitin Gadkari. Lodha also attended a job fair organised by RTMNU with the District Skill Development Center and Model Career Center, where 19 companies offered jobs to over 300 students. A student app was also launched to help youth access employment and training resources.
Mint
a day ago
- Business
- Mint
How Medikabazaar's new CEO is trying to turn around the business, target profitability this year
Medikabazaar, the medical equipment supplier, expects to put the controversies surrounding the startup behind it as it targets profitability this year, CEO Dinesh Lodha told Mint in an exclusive interview. The startup, which is entangled in legal disputes, has started exports and is expanding its portfolio offerings to drive growth. Lodha, who was appointed group CEO in August 2024, said the business is turning around and that will help rebuild confidence among its investors and customers. 'This is the third quarter going on, [since] I joined, and in the last two quarters there are significant changes happening in the business. We have cut down our loss by 80% by quarter four from quarter one," he told Mint. 'In Q4 we ended up at a revenue run rate of ₹2,200 crore, with some losses. Next year, we're looking at a run rate of ₹3,200 crore by Q4FY26, with Ebitda profitability. For the first time the company will show a solid profitability and a good cash flow." Lodha said his mandate is to run the business and that the dispute between investors is not a distraction. 'The team is very focused. And my approach is also very focused," said Lodha. 'The way things are getting turned around, I think people are getting more and more confident. We are not losing customers because of this." The Mumbai-based B2B medical supply chain platform has been mired in controversy and legal disputes following a whistleblower complaint in December 2023 accusing the then-senior management of round-tripping of accounts to inflate revenue and other irregularities. The allegations have been validated by forensic audits. The company's auditor resigned, its FY23 financials were restated, and its leadership was overhauled. Founder's ouster Co-founder Vivek Tiwari stepped down as chief executive officer in July 2024 to take on a board role. He was then ousted by the company's board in April 2025 over allegations of malicious and fraudulent activities, including financial mismanagement and financial fraud. Tiwari is fighting cases in multiple jurisdictions, including the Delhi High Court and the National Company Law Tribunal. In an earlier interview to Mint, he denied allegations of financial misreporting. Also Read | Medikabazaar's ousted CEO denies board's allegations of financial irregularities Additionally, the company's Series C investors including Creagis, CDC Group, HealthQuad and Ackermans & van Haaren, filed an indemnity claim, or compensation, of ₹279 crore against the company over allegations of financial misreporting. Lodha comes with over two decades of experience in the healthcare and medtech space, having previously worked as group CEO at Healthium Medtech, country head for Samsung's healthcare vertical, and sales director at GE Healthcare. He has 'a proven track record of leading successful turnarounds of businesses," according to his LinkedIn profile. Medikabazaar reported a gross operating revenue of ₹1,355.5 crore in FY24, a 50% surge from the preceding year, according to Entrackr. Its loss widened by 30% to ₹394.8 crore. The company's expansion is driven by adding new growth segments and an internal clean-up with a focus on transparency. 'If you ask me one word in this organisation which I've tried to change, it is to 'empower' the people to take decisions, but then be accountable," he said. The company has had a good retention of its leadership, employees and customers over the past 18 months, Lodha said. 'That itself gives you confidence that things are pretty much solid in place," Lodha said. 'We have added many new segments, new leaders. But we retain the core," he added. Exports to drive growth Lodha is driving the company's expansion beyond Indian shores. The company is already facilitating Indian manufacturers with certification to export to countries in the Middle East, Africa, some parts of Asia, and South America. 'It is in the early stages… but it is a huge, significant growth area for us as we go forward. At this point of time, export [segment] is not that significant. We are talking 5-6% of our business. But that will significantly grow to 15-20% as we go forward," Lodha said. Also Read | The fallout of an audit and missed targets: Medikabazaar founders set to lose stock options Medikabazaar is a B2B seller for medical equipment and drugs, including consumables such as surgical gloves, devices like MRI machines, and vaccines. It has over 400,000 customers through its digital marketplace and has tied up with over 1,000 hospitals in the country. The company has also started its own brand called MB+ for medical consumables, pharmaceuticals, and vaccines that it will directly offer to customers, which is a high-margin business and will form a significant chunk of the company's revenue, said Lodha. It is targeting tier-2 and tier-3 hospitals and aims to offer complete supply chain and procurement solutions to at least 100-150 hospitals in the next 12-14 months. 'In India, nobody has the portfolio breadth that we have with presence in equipment and devices, consumables, disposables, IVD (in vitro diagnostics) and pharma," said Lodha. 'We offer a one-stop solution in all procurement segments… that's a very big opportunity for hospitals to really work with one company as a single-window procurement partner rather than working with, say, 200 distributors." Medikabazaar competes with large manufacturers in individual segments such as medical equipment companies Wipro GE Healthcare and Medtronic, as well as other B2B marketplaces MedDeal and Zoplar. Also Read | Indian medtech's just coming of age, and already has global ambitions Medikabazaar has raised $165 million (about ₹1,380 crore) via debt and equity to date. It was reportedly in talks to raise $150-200 million last year, which did not materialise after the forensic audit. Lodha said that the company is not looking at raising funds currently and that it built a good cash flow in Q4. 'We are continuing to be focused on cash flow," he said. 'Wherever the investment is required, I think the existing investors [are] very bullish on the business… they are ready to fund it further."
The Print
2 days ago
- Politics
- The Print
Shivaji Maharaj coronation day to be marked with lecture series at ITIs across Maharashtra
The lecture series will be inaugurated with a video message from Chief Minister Devendra Fadnavis. The aim is to instil patriotic values and national consciousness among students, he said. Mumbai, Jun 4 (PTI) Maharashtra minister Mangal Prabhat Lodha on Wednesday announced that a lecture series will be held across all Industrial Training Institutes (ITIs) in the state to mark the coronation day of Chhatrapati Shivaji Maharaj to be celebrated on June 6. Addressing a press conference at the Mantralaya, the Skill, Employment, Entrepreneurship and Innovation Minister said, 'This initiative is based on the theme of 'rashtrahit' (national interest) and will be conducted under the department's Panch Parivartan (five-fold transformation) mission. Topics such as family awareness, social harmony, environmental conservation, civic duties and indigenous thinking will be covered in the lectures.' Shivaji Maharaj, the founder of Maratha empire, was crowned as king on the Raigad fort on June 6, 1674. Lodha also announced that six new advanced courses will be introduced in ITIs from the upcoming academic year. 'These are artificial intelligence (AI), industrial robotics, drone technology, 3D printing, electric vehicle technology and solar energy systems. These courses aim to provide students with global-standard training in emerging technologies,' he said. The department's new Public-Private Partnership (PPP) model has received a positive response from industry players. With over 1.2 lakh students enrolled in ITIs across the state, the new initiatives are expected to improve job prospects and bridge the gap between skills and industry requirements, Lodha said. PTI ND NP This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
7 days ago
- Business
- Time of India
BJP functionaries demand more women-centric schemes
Nashik: BJP functionaries in Nashik on Friday urged minister of skill, employment, entrepreneurship and innovation Mangal Prabhat Lodha to prioritise women-centric technical and skill education to boost self-employment opportunities. Tired of too many ads? go ad free now Minister Lodha, visiting the local BJP office, specifically asked for suggestions from the functionaries on how his ministry could best serve the public. A senior BJP office-bearer revealed that another significant demand raised was for government Industrial Training Institutes (ITIs) to undertake construction of rainwater harvesting systems in govt buildings. "This, they argued, would ensure a financial flow to the institutes while simultaneously advancing student skill development," the functionary said. Another suggestion was to provide different technical and skill development courses to women so that they could handle modern equipment required for the production of household or even industrial goods, which will help them to be self-employed. The functionaries also demanded that various measures should be taken to propagate information about the courses and schemes to the last man. The minister took note of all the demands and assured the functionaries of taking necessary steps to fulfil them. The minister also said he would soon form teams to spread the message of govt schemes to the beneficiaries.
Time of India
28-05-2025
- Politics
- Time of India
Malabar Hill neta seeks 5cr to rebuild crashed wall
Mumbai: A day after Mhada began demolishing the decades-old cessed building, Ruby Hill '47', on Walkeshwar Road, where a portion of a retaining wall along it crashed on Monday following intense rainfall, local Bharatiya Janata Party legislator and minister M P Lodha sent a letter to the Mumbai city collector to allot Rs 5 crore from the MLA fund for construction of a retaining wall at Teen Batti. Mhada already got a structural consultant to assess the stability of the portion of the hill that collapsed. The survey by the consultant was done on Tuesday following the incident. The part of the retaining wall that crashed is the route taken to the official residences of the chief minister, deputy chief minister, governor, and municipal commissioner. There was no damage to property and life. Lodha, in his letter to the collector sent on Wednesday, said, "I request you to immediately allot Rs 5 crore for the construction of a retention wall at the earliest so that damage is avoided." Lodha, on Wednesday morning, met tenants of the building who have now been allotted transit camps at Ghodapdeo in Byculla as the building is being demolished. While the tenants have expressed reservations about going to Ghodapdeo, Mhada, however, has insisted that the building has outlived its age and said that there is no option but to demolish the building now. The tenants expressed fear that once they are sent to a transit camp, they would never be brought back again. "We have rent receipts dating back to the 1950s, but as they are keen on displacing us, we fear that this may mean we are never coming back again to this place," said one of the tenants. On Wednesday, mobile antennas put atop other buildings of Ruby Hill were being removed to reduce the weight on the building. Mumbai: A day after Mhada began demolishing the decades-old cessed building, Ruby Hill '47', on Walkeshwar Road, where a portion of a retaining wall along it crashed on Monday following intense rainfall, local Bharatiya Janata Paarty legislator and minister M P Lodha sent a letter to the Mumbai city collector to allot Rs 5 crore for construction of a retaining wall at Teen Batti. Mhada already got a structural consultant to assess the stability of the portion of the hill that collapsed. The survey by the consultant was done on Tuesday following the incident. The part of the retaining wall that crashed is the route taken to the official residences of the chief minister, deputy chief minister, governor, and municipal commissioner. There was no damage to property and life. Lodha, in his letter to the collector sent on Wednesday, said, "I request you to immediately allot Rs 5 crore for the construction of a retention wall at the earliest so that damage is avoided." Lodha, on Wednesday morning, met tenants of the building who have now been allotted transit camps at Ghodapdeo in Byculla as the building is being demolished. While the tenants have expressed reservations about going to Ghodapdeo, Mhada, however, has insisted that the building has outlived its age and said that there is no option but to demolish the building now. The tenants expressed fear that once they are sent to a transit camp, they would never be brought back again. "We have rent receipts dating back to the 1950s, but as they are keen on displacing us, we fear that this may mean we are never coming back again to this place," said one of the tenants. On Wednesday, mobile antennas put atop other buildings of Ruby Hill were being removed to reduce the weight on the building.
