Latest news with #SaurabhKalra
Time of India
16-05-2025
- Business
- Time of India
'It's a message': Alwar fruit traders drop Turkish apples over amid nationwide boycott over Turkey's pro-Pakistan stand
Representative image NEW DELHI: Traders in Rajasthan have joined the growing nationwide boycott of Turkish products, with Turkish apples being pulled from shelves in Alwar fruit markets. The move comes in response to Turkiye's (commonly called Turkey) support for Pakistan during India's recent military operations against terror camps under ' Operation Sindoor '. Earlier, marble traders in Ajmer had announced they would stop importing Turkish stones, aligning with the broader economic pushback against Turkiye. Tensions have escalated as Pakistan reportedly deployed Turkish drones during the military engagement with India. In reaction, the Alwar Fruit Mandi Union has enforced a complete suspension of Turkish apple sales, citing strong public sentiment and a desire to economically counter Turkiye's stance. 'More than 15 tonnes of Turkish apples arrive in Rajasthan daily between March and June,' said Saurabh Kalra, General Secretary of the Fruit Mandi Union, as quoted by PTI. 'Due to Turkiye's stand against India, we've decided to stop selling them. This is not just a market decision, it's a message.' From Friday, shops will display posters reading 'Boycott of Turkish apples,' and an awareness campaign will be launched to prevent any further sales. Kalra added, 'If any trader is found selling them, it will be treated as an act against national interest.' Union secretary Pankaj Saini confirmed that apples from Kashmir, Himachal Pradesh, and South Africa would replace Turkish imports. 'We have enough stock in cold storages to meet consumer demand,' he assured. The traders' association also urged Indians to avoid Turkiye as a travel destination. 'Indians should choose other destinations. If Turkiye stands with Pakistan, we will respond economically,' said Saini. Similar boycotts have been observed in fruit markets across Delhi and Mumbai. Turkiye exports goods worth over Rs 1,200 crore annually to India, with fruit, especially apples, constituting a significant share. In addition to trade, calls for a complete boycott of travel to Turkiye and Azerbaijan have gained momentum. Leading travel platforms including EaseMyTrip and Ixigo have issued advisories discouraging travel to both nations. MakeMyTrip has also discontinued all promotional offers related to Turkiye and Azerbaijan. Also read: India's trade relations with Turkey, Azerbaijan and how it may be affected after Pakistan conflict- an explainer Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
16-05-2025
- Business
- Time of India
Turkish apples off the shelves in Alwar's fruit markets as traders join Turkiye boycott call
Turkish apples are off the shelves in Alwar's fruit markets as traders in Rajasthan joined the chorus to boycott products from Turkiye after it backed Pakistan during India's military strikes on terror camps in the neighbouring country. Earlier, marble traders in Ajmer had refused to import stones from Turkiye. The nationwide boycott call against Turkish products and travel to that country came against the backdrop of Turkiye's backing for Pakistan and its condemnation of India's recent strikes on terror camps in the neighbouring country and Pakistan-occupied Kashmir (PoK) under 'Operation Sindoor'. Pakistan had also used Turkish drones on a large scale in the military conflict with India. The Fruit Mandi Union in Alwar has declared a complete halt on the sale of apples imported from Turkiye. Traders said the decision reflects public sentiment and is aimed at hurting Turkiye's economic interests. "More than 15 tonnes of Turkish apples arrive in Rajasthan every day between March and June," said Saurabh Kalra, General Secretary of the Fruit Mandi Union. Live Events He said "Due to Turkiye's stand against India, we've decided to stop selling them. This is not just a market decision, it's a message." Posters calling for a 'Boycott of Turkish apples' will be put up in shops starting Friday. An awareness drive will also be launched to ensure no Turkish apples are sold in the market. "If any trader is found selling them, it will be treated as an act against national interest," Kalra added. Pankaj Saini, Secretary of the Union, said that alternative apple sources like Kashmir, Himachal Pradesh, and South Africa are ready to fill the gap. "We have enough stock in cold storages to meet consumer demand," he assured. Traders have also appealed to the public to avoid tourism in Turkiye. "Indians should choose other destinations. If Turkiye stands with Pakistan, we will respond economically," said Saini. The move follows similar boycotts reported in fruit markets of Delhi and Mumbai as well.
New Indian Express
16-05-2025
- Business
- New Indian Express
Turkish apples off the shelves in Alwar's fruit markets as traders join Turkiye boycott call
JAIPUR: Turkish apples are off the shelves in Alwar's fruit markets as traders in Rajasthan joined the chorus to boycott products from Turkiye after it backed Pakistan during India's military strikes on terror camps in the neighbouring country. Earlier, marble traders in Ajmer had refused to import stones from Turkiye. The nationwide boycott call against Turkish products and travel to that country came against the backdrop of Turkiye's backing for Pakistan and its condemnation of India's recent strikes on terror camps in the neighbouring country and Pakistan-occupied Kashmir (PoK) under 'Operation Sindoor'. Pakistan had also used Turkish drones on a large scale in the military conflict with India. The Fruit Mandi Union in Alwar has declared a complete halt on the sale of apples imported from Turkiye. Traders said the decision reflects public sentiment and is aimed at hurting Turkiye's economic interests. "More than 15 tonnes of Turkish apples arrive in Rajasthan every day between March and June," said Saurabh Kalra, General Secretary of the Fruit Mandi Union. He said "Due to Turkiye's stand against India, we've decided to stop selling them. This is not just a market decision, it's a message." Posters calling for a 'Boycott of Turkish apples' will be put up in shops starting Friday.
Yahoo
15-05-2025
- Business
- Yahoo
Westlife Foodworld Ltd (BOM:505533) Q4 2025 Earnings Call Highlights: Navigating Growth Amidst ...
Same-Store Sales Growth (SSSG): 0.7% in Q4; adjusted SSSG excluding leap year impact at 1.7%. Consolidated Sales: INR6 billion, up 7% year-on-year. On-Premise Business Growth: 8% year-on-year. Off-Premise Business Growth: 5% year-on-year. Full-Year Sales: INR24.9 billion, growing by 16% on a three-year CAGR basis. EBITDA: INR3.3 billion, growing by 17% on a three-year CAGR basis. Cash Profit After Tax (PAT): INR1.9 billion, growing by 14% on a three-year CAGR basis. Gross Margin: Approximately 70% in Q4. Restaurant Operating Margin: Decreased by 30 basis points year-on-year. Operating EBITDA Margin: Decreased by 50 basis points year-on-year. Cash Profit After Tax in Q4: INR469 million or 7.8% of sales. New Restaurants Opened in FY25: 47 new restaurants. Total Restaurants as of March 31: 438 across 69 cities. Net Debt Position: Stable at INR90 crores; net debt to equity at 0.15 times. Digital Sales: Accounted for almost 75% of total sales in Q4. Warning! GuruFocus has detected 3 Warning Sign with BOM:505533. Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Westlife Foodworld Ltd (BOM:505533) reported a 7% year-on-year increase in consolidated sales, reaching INR6 billion. The company opened 47 new restaurants in FY25, aligning with their expansion guidance. Digital sales accounted for nearly 75% of total sales, driven by self-ordering kiosks and mobile apps. Westlife Foodworld Ltd achieved top ranking in India and fifth place globally in S&P Global's Corporate Sustainability Assessment. The company maintained a stable net debt position with a comfortable net debt to equity ratio of 0.15 times. Same-store sales growth (SSSG) was relatively low at 0.7%, with adjusted SSSG at 1.7% excluding the leap year impact. The food retail sector faced challenges with soft demand and stagnant consumption trends. Restaurant operating margin and operating EBITDA margin dipped by around 30 basis points and 50 basis points year-on-year, respectively. Off-premise sales growth was slower compared to on-premise sales, accounting for 43% of total sales. The company faced inflationary pressures, particularly in commodities like coffee, oil, and cocoa. Q: Can you give some idea about the demand through the quarter? Did you see it accelerating, and do you see that trajectory continuing? A: Akshay Jatia, Whole Time Director: We have been seeing sequential improvement, and our efforts are resulting in traction. While it's too early to call a major recovery, we are confident in achieving mid- to high single-digit same-store sales growth (SSSG) over the next couple of years. Q: What are your thoughts on margins in light of comments by other QSR companies that a 3% to 4% SSSG is required to maintain current margins? A: Saurabh Kalra, Managing Director: While inflation is a reality, we handle it through multiple levers like product mix, pricing, and cost efficiency programs. Despite challenges, we are confident in managing these effectively. Q: How has the SSSG been broken into the number of transactions and average value per transaction? A: Saurabh Kalra, Managing Director: Our growth is primarily driven by volume rather than value, thanks to our value offerings. While we don't provide specific breakups, the growth is largely volume-based. Q: Are you seeing competition emerging specifically in the burger QSR space, and are there signs of consolidation? A: Akshay Jatia, Whole Time Director: Competition has always been present, which grows the market. We don't see anything new in terms of consolidation, but brands like Westlife that stand out will continue to lead. Q: How should one look at the performance going ahead given the favorable base from last year? A: Saurabh Kalra, Managing Director: We focus on gaining traction and maintaining momentum rather than comparing to last year's base. We aim to continue growing and achieving better results. Q: What kind of inflation are you seeing on the store staff level in terms of their salaries? A: Saurabh Kalra, Managing Director: Wage inflation is typically between 5% to 10% year-on-year, which is factored into our projections and remains stable. Q: Are you holding on to the store guidance for 2027, and do you expect an acceleration in store additions? A: Akshay Jatia, Whole Time Director: We continue to hold on to our Vision 2027 guidance of 580 to 630 restaurants by 2027. Q: Off-premise growth has been relatively muted. What steps are you taking to improve growth in this channel? A: Akshay Jatia, Whole Time Director: While delivery growth has slowed, we remain leaders in this category and plan to accelerate growth through partnerships and our own channels. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
