Latest news with #SanjeevJain
Fashion Value Chain
08-08-2025
- Business
- Fashion Value Chain
Akums Reports Q1 FY26 with 19% YoY Adj EBITDA Growth; Achieves 1,000 DCGI Approvals
Akums Drugs and Pharmaceuticals Ltd., India's largest contract development and manufacturing organization (CDMO), has announced its consolidated financial results for the quarter ended June 30, 2025. This quarter continued to display strong performance with healthy growth in Adj EBITDA and Adj PAT. In Q1 FY26, Akums reported total income of Rs. 1,051 crore, with healthy Adj EBITDA of Rs. 156 crore reflecting a robust 19.1% year-on-year (YoY) growth. The margins improved to 14.8% from 12.7% last year a 208 bps improvement. During this quarter, the company achieved a key milestone of reaching 1,000 Drug Controller General of India (DCGI) approvals, with 27 fresh approvals in this quarter. The DCGI approvals assist the company in enhancing its product mix, building a differentiated and research-driven portfolio. Additionally, the company also received a patent for its extended-release combination formulation of Doxylamine and Pyridoxine developed using the company's tablet in tablet technology. As part of Akums' strategic vision to establish itself as a leading global CDMO, the company received its first EU dossier approval for Rivaroxaban. It also filed its first dossier of Dapagliflozin combination in Switzerland. Both of these new products hold significant market potential. The commercialization of the EU contract also continues to be on track and the company will commence commercial supplies from April 2027. Akums received 100 mn Euros as part consideration for the EU contract in Q1 this year, consequently the company is at a cash surplus of Rs. 1,518 cr. The strong liquidity position provides a robust foundation for Akums to strategically scale up its business operations through both organic growth initiatives and inorganic opportunities. Segmental Performance Overview Akums' flagship business, CDMO, contributed ~79% to the group turnover with an EBITDA of 14.7% in Q1 FY 26. The company's domestic branded formulation business segment reported ~3% YoY growth while international branded formulation business grew by ~2% YoY. Trade generics and API segment continue to be in operational loss this quarter, though, through the management efforts, the losses are gradually reducing. Commenting on the results, Mr. Sanjeev Jain, Managing Director, said, 'This date marks just over one year since we got listed. We continue to work towards strengthening the organization with a focus on long term growth. Our commitment to becoming a global CDMO player remains steadfast. The recent filings along with the planned global approvals of other facilities are setting up us in that endeavor.' Mr. Sandeep Jain, Managing Director, added, 'We continue to deliver strong performance despite the industry headwinds of decreasing API prices and muted volume growth. With a sustained focus on R&D, we have been able to deliver robust growth. Achieving 1,000 DCGI approvals is a key milestone that stands out Akums from its peers, allowing Akums to offer margin accretive differentiated offerings. We remain focused on strengthening our CDMO leadership, scaling high-value capabilities, and driving operational excellence. Backed by a strong pipeline and prudent capital allocation, we are well-positioned to deliver sustainable and profitable growth in the years ahead.' Extract of Consolidated financial results Particulars (Rs Cr) Q1 FY 26 Q4 FY 25 Q1 FY 25 Revenue 1,024 1,056 1,019 Other income 27 18 7 Total income 1,051 1,073 1,026 Cost of goods sold 582 639 596 Employee Cost 176 184 176 Other Expenses 137 139 123 Adj EBITDA 156 111 131 Adj EBITDA Margin 14.8% 10.4% 12.7% Adj PAT 65 44 57 Adj PAT Margin 6.2% 4.1% 5.6% Definitions Adjusted EBITDA has been calculated as the sum of profit/ (loss) for the quarter, tax expenses, finance costs, depreciation and amortization expense, fair value changes to financial instruments, and exceptional items. Adjusted PAT is calculated as the profit for the quarter plus fair value changes to financial instruments less tax deferred tax created on brought forward losses. CDMO: Contract Development and Manufacturing Operations API: Active Pharmaceutical Ingredients
New Indian Express
30-06-2025
- Health
- New Indian Express
AI's role in mental health grows, sparks expert concern
BENGALURU: As the usage of AI is expanding to address the concerns of mental health, stress and other related issues, the experts pointed out that there is a need to understand that how various tools are being used, the type of information it is disseminating. Dr Prabha S Chandra, Professor and Head of Psychiatry, NIMHANS, said, the information has its positive and negative sides. She informed that patients are using AI as a convenient tool for them to seek solutions. Experts said people are validating the use of AI as they are not comfortable sharing their personal details with strangers, they fear being judged. The age group that is using AI is between 18-25 years. Conversation is essential to beat mental health issues. On one hand, it can reduce the load on therapists, but on the other, there is a need to understand and evaluate the process as in the long run, this will have adverse consequences, said ADBS coordinator and principal investigator, NIMHANS, Dr Sanjeev Jain. Officials in the Karnataka health department said that AI was becoming a challenge for them to reach out to people in peri-urban and rural areas as people are using AI to seek solutions to their problems. 'The solutions AI gives cannot be used for all, as one size does not fit all. The number of people approaching us is less,' said a mental health expert working with the health department. IISc, Centre for Brain Research experts said, 'Use of AI is affecting the cognitive skills and brain development. Now people are already stressed because of their over-dependence on it.' Dr Ajit V Bhide, noted consultant psychiatrist and former president of the Indian Psychiatry Society said, it should never be recommended as the first choice, especially when seeking medication.
Time of India
17-06-2025
- Business
- Time of India
OnePlus under scanner; Razorpay invests in Pop
OnePlus under scanner; Razorpay invests in Pop Also in the letter: OnePlus India audit flags glitches, PF payment lags Driving the news: Hosting its accounting software and maintaining financial records on physical servers outside India, in Dongguan, China. Using software with programming code in a foreign language, which auditors found difficult to review and verify. Delays in depositing employee provident fund contributions. The other side: Rival watch: Razorpay invests $30 million into consumer payments startup Pop Deal details: ET had reported on February 18 that Pop was in talks with Razorpay for a potential investment. The startup operates a rewards-first Unified Payments Interface (UPI) payments app, designed to build loyalty in a competitive market. With the new capital, Pop plans to double down on product innovation and build deeper partnerships with merchants, particularly across direct-to-consumer (D2C) platforms. Yes, and: Fintech startup Saswat Finance raises $2.6 million: OpenAI executives have discussed accusing Microsoft of anticompetitive behaviour: Report Driving the news: The report added that OpenAI may push for a federal review of its contract with Microsoft over potential antitrust violations. It is also mulling a public campaign to highlight its concerns. Such a move could strain one of the most important alliances in the AI industry. At the same time, OpenAI still requires Microsoft's sign-off to complete its transition to a public-benefit corporation. However, sources said that talks between the two sides have stalled for months without a resolution. Also Read: Yes, but: Microsoft invested $1 billion in OpenAI in 2019 to help develop AI tools on its Azure cloud platform. Since then, OpenAI has been trying to reduce its reliance on Microsoft and is looking to onboard Google Cloud to meet growing compute demands. Meanwhile, Microsoft is also moving towards greater independence. It has started integrating internal and third-party AI models into Microsoft 365 Copilot, which currently leans heavily on OpenAI's technology. OpenAI wins $200 million US defence contract: Details: Game on: Phonemakers tap eSports to woo young Indians Current state: India is home to nearly 450 million mobile gamers, a number expected to surge to 720 million by 2028, according to Krafton India, the publisher of Battlegrounds Mobile India (BGMI). The widespread availability of affordable smartphones and low-cost data plans is fueling this rapid growth. Brands are now capitalising on this momentum to push device sales. Expert take: Tell me more: (AI)gorithm turns recruiter Talent shopping: At HCLTech and Wipro, AI is actively involved in shortlisting and interviewing around 55,000 candidates for entry- and mid-level positions. Infosys CHRO Shaji Mathew said the company has integrated AI across its entire HR workflow, from hiring to retirement. Wipro COO Sanjeev Jain added that AI tools are used throughout the hiring journey – from scanning CVs and conducting first-level interviews to assessing communication skills and verifying backgrounds. Expert take: Also Read: The auditor of smartphone maker OnePlus Technology India has flagged issues with its bookkeeping processes. This and more in today's ETtech Top 5.■ OpenAI and Microsoft's troubles■ Phonemakers woo young gamers■ AI turns recruiterThe statutory auditor of OnePlus Technology India has flagged several concerns with the Chinese smartphone manufacturer, including regulatory action by the Enforcement Directorate (ED) and the Income Tax issues raised in the audit include:Shah & Jain Chartered Accountants serve as the statutory auditor, while Grant Thornton Bharat is the internal a regulatory filing, OnePlus said it is in the process of upgrading its IT systems. It added that it has initiated payments for the outstanding provident fund dues for FY2023–24 and has deposited an amount against disputed corporate income tax remains under the ED scrutiny for alleged financial irregularities under the Foreign Exchange Management Act (FEMA).Other Chinese smartphone firms, including Oppo India and Realme India, are facing similar scrutiny . Their auditors have raised red flags over gaps in bookkeeping, internal processes, and incomplete firms have come under sustained pressure in India over the past four to five years, as authorities continue to allege violations involving customs duties, tax evasion, and money laundering.(L-R) Harshil Mathur and Shashank Kumar, cofounders, RazorpayConsumer payments platform Pop has secured $30 million in funding from fintech major Razorpay, as it looks to tackle rising customer acquisition costs for merchants and boost rewards for in June last year, Pop has already crossed one million monthly active users and facilitates over six lakh daily UPI transactions. In partnership with Yes Bank, it has also issued more than 40,000 RuPay credit Razorpay, this marks a deeper push into loyalty and commerce enablement. The company had earlier acquired PoshVine , another loyalty and rewards platform. The Pop investment leans into that and CEO Harshil Mathur stated that the Pop deal is designed to serve D2C merchants better. 'In today's crowded D2C space, brands need more than just payment solutions; they need tools to earn trust, drive repeat purchases, and build real loyalty,' he said.(L-R) Indrajyoti Bhattacharjee, Ravi Ranjan Chaudhary (above), Arun Tiwari, Rahul Nischal, cofounders, Saswat FinanceRural India-focused fintech startup Saswat Finance has raised $2.6 million in a funding round led by early-stage investor Ankur Capital, with participation from existing backer Incubate Fund Mumbai-based startup will use the capital to expand its technology stack, launch new financial products, and scale operations across Maharashtra, Karnataka, and Uttar Pradesh. The funding will also support investments in data and analytics to sharpen its executives have considered accusing key backer Microsoft of anticompetitive conduct in their partnership, the Wall Street Journal reported on Monday, citing sources familiar with the a separate development, OpenAI has won a $200 million contract to provide artificial intelligence (AI) tools to the US Department of Defence, the Pentagon confirmed on project will be executed in and around Washington and is scheduled for completion by July 2026, according to the manufacturers are turning to India's booming eSports sector to boost visibility and drive sales amid a slowdown in the wider such as OnePlus, Realme, iQOO, and Infinix are actively sponsoring top-tier mobile gaming tournaments. They are also partnering with prominent eSports squads as part of a core marketing play, recognising the growing influence of mobile gaming on young Indian consumers, industry experts shipments in India fell by 5.5% year-on-year in the March quarter, with 32 million units shipped, according to IDC. In response, both smartphone brands and telecom operators are doubling down on eSports sponsorships, ensuring their devices are featured prominently during gameplay and intelligence (AI) is no longer just a tool for boosting employee productivity – it's now central to how recruiters identify the right talent . With IT firms hiring tens of thousands each year, AI handles 70–80% of the initial screening Sharma, CEO of Teamlease Digital, said that recruiters are saving up to 23 hours a week thanks to AI-driven efficiencies.
Time Business News
07-06-2025
- Business
- Time Business News
How parsvnath CEO Sanjeev Jain Is Leading the Future?
As everyone is aware, the real estate industry is expanding in this fast-paced world. One of India's top real estate firms is Parsvnath Developers, led by Parsvnath CEO Sanjeev Jain. They provide the highest caliber eco-friendly homes and offices. Parsvnath has established a solid name in this field with its thirty years of experience. All of this is due to our CEO, Sanjeev Jain, whose creative ideas have led to the construction of residences. Sanjeev Jain never loses sight of the client's needs. He regularly keeps an eye on homebuyers and the latest market trends. Under his direction, the business produces buildings with cutting-edge technology and environmentally friendly features. According to him, creating a home involves more than simply constructing a structure; it also entails using the highest quality, environmentally friendly materials. Parsvnath Developers constructs homes with sturdy structures and high-quality materials by employing clever building processes. They incorporate eco-friendly materials and other elements into their homes and workplaces. Techniques for conserving energy Automatic elements such as fans and lighting that can be controlled by a remote The Internet of Things, or IoT Homes in Parsvnath are constructed with contemporary styles and a range of lifestyles to accommodate various price ranges. They provide: They constructed residences with a variety of amenities and creative designs. Eco-friendly features were included in their dwellings. They have well-located projects. They provide the greatest and most comfortable layouts. Additionally, Parsvnath developers create smart offices with the best structures and opulent amenities. They employ designs that save energy. Their developments are close to workplaces and markets. Sustainability, which is what everyone demands these days, is the foundation of every initiative. Solar systems and rainwater collecting environmentally friendly construction materials Open spaces and gardens They offer top-notch projects and a wholesome setting. Parsvnath puts the client first at all times. They provide: Real Deal Timely Project Delivery Beneficial assistance Intelligent property administration Having completed numerous successful projects in the past, Parsvnath, under the leadership of CEO Sanjeev Jain, is now preparing for more. Parsvnath CEO Sanjeev Jain aims to expand into smaller cities and develop smart townships with top-notch amenities. New Collaborations & Creative Concepts In order to stand out in the market and become one of the most reputable developers in India, Parsvnath developers primarily concentrate on creative design using environmentally friendly materials, sustainability, and customer happiness. TIME BUSINESS NEWS
Fashion Value Chain
27-05-2025
- Business
- Fashion Value Chain
Akums Reports Q4 FY25 with 12.4% Revenue Growth, FY25 Adj. EBITDA Remained Strong at 12.3%
Akums Drugs and Pharmaceuticals Ltd., India's largest contract development and manufacturing organization (CDMO), has announced its consolidated financial results for the quarter and fiscal year ending March 31, 2025. The fourth quarter marked a significant rebound in performance, laying a strong foundation for continued growth and global expansion. In Q4 FY25, Akums reported revenue of Rs.1,073 crore, reflecting a robust 12.4% year-on-year (YoY) growth. The company posted a 10.4% EBITDA margin. Building on its Q4 momentum, Akums closed FY25 with consolidated total income of Rs. 4,170 crore and an adjusted EBITDA margin of 12.3%, a 7-basis point improvement from the previous year. The company continued its focus on enhancing its product mix, building a differentiated, research-driven portfolio, and expanding its global presence. One of the key developments during the fiscal year was securing an approx. €200 million contract for the manufacture and supply of pharmaceutical products to regulated European markets – a milestone that significantly expands Akums' global CDMO footprint. The commercial supplies for this will begin in 2027. To support its expanding footprint, Akums invested Rs. 272 crore in capital expenditure during FY25. which now stands at 49.6 billion units annually. This infrastructure scale-up ensures readiness for large-scale domestic CDMO operations as well as global pharma opportunities. Akums also maintained a strong R&D focus, investing Rs. 130 crore which is over 3% of revenue. With 973 DCGI approvals now, the company's product portfolio has over 4,000 commercialized formulations. This is across multiple therapeutic areas across 60+ dosage forms. Segmental Performance Overview Akums' flagship business, CDMO, contributed ~78% to the group turnover with an adjusted EBITDA of 14.1% in FY 25. The company's domestic branded formulation business segment reported ~9% growth while international branded formulation business grew by ~14%. Trade generics and API segment continue to be in operational loss this fiscal, but the company is taking firm measures to cut the losses in the coming fiscal. Strategic Focus and Future Outlook Despite making meaningful progress across key business segments, Akums reported flat year-on-year revenue, largely due to muted industry volumes and price erosion in APIs. The company, however, continued to invest in long-term growth drivers to consolidate its leadership position in India's pharmaceutical landscape and lay the foundation for global CDMO expansion. With an R&D spend, up 16% from FY24, Akums continues to deepen its innovation capabilities, develop complex formulations, and enrich its portfolio. The company's emphasis on quality-focused manufacturing, novel delivery formats, and patient-centric innovations ensures that its offerings are both globally relevant and therapeutically effective. Commenting on the results, Mr. Sanjeev Jain, Managing Director, said, ' As we look back on the year we got listed, we also look ahead with a renewed sense of purpose. Our entry into Europe is a pivotal step for the Akums' global CDMO expansion. Coupled with strategic capacity expansion and a sharp focus on differentiated offerings, we are laying the foundation for Akums to emerge as a trusted global CDMO. We remain steadfast in our commitment to creating long-term value for all stakeholders and to delivering healthcare solutions that impact lives across geographies.' Mr. Sandeep Jain, Managing Director, added, 'It gives us immense pride to close FY25 on a positive note, especially in a year marked by volatility across the pharmaceutical industry. Despite price erosion in APIs and slowing volumes, Akums remained focused on the fundamentals-operational discipline, innovation, and global ambition. Our new injectable facility is now operational, our R&D engine is stronger than ever, and our differentiated portfolio continues to resonate with partners. These are exciting times, as we accelerate our transformation into a global pharmaceutical manufacturing organization.' Here is the Summary of Profit and Loss Statement for reference P/L (Rs Cr) Q4 FY 25 Q3 FY 25 Q4 FY 24 FY 25 FY 24 Revenue 1,056 1,010 944 4,118 4,178 Other Income 18 15 10 52 34 Total income 1,073 1,025 954 4,170 4,212 COGS 639 602 569 2,433 2,550 Employee Cost 184 176 164 716 647 Other Expenses 139 111 128 508 500 Adj EBITDA 111 136 98 513 515 Adj EBITDA Margin 10.4% 13.3% 10.3% 12.3% 12.2% Depreciation 40 45 34 153 126 Finance Cost 5 5 12 35 51 Exceptional Item -8 -5 0 -17 26 Adj PAT 44 66 46 234 220 Adj PAT Margin 4.1% 6.5% 4.8% 5.6% 5.2%
