Latest news with #SubodhKumar
Time of India
6 hours ago
- Time of India
Illegal liquor worth Rs 1 crore seized from flat
Noida: Excise officials discovered an illegal liquor cache worth Rs 1 crore in a Greater Noida West apartment on Monday and arrested a man for allegedly planning to sell it in the black market. The liquor, incuding 1,911 crates of beer and 435 bottles of foreign liquor, was from the previous financial year, and the accused planned to pass it off as fresh stock, officials said. According to Subodh Kumar, district excise officer, the accused, a Sector 30 resident, stocked up the liquor during the last week of March 2025, when the new UP excise policy was about to come into effect. "Some shop owners across the state were selling leftover stock at discounted rates, which Sachin Jaiswal, purchased in bulk. During interrogation, he admitted that he planned to sell the old stock by affixing fake labels," Kumar said. As per procedure, when a new excise policy comes into effect, the leftover unsold liquor stock from the previous financial year must be turned in to the govt by the liquor shop owners and wholesalers by March 31, and only stock of the current financial year can be sold April 1 onwards. An FIR has been registered under relevant sections of BNS and Excise Act.
Economic Times
14 hours ago
- Business
- Economic Times
Demand is massive & supply is limited, we're here to fill that gap: Oswal Pumps top brass on Industry Landscape
Q. The ₹1,387 crore issue of Oswal Pumps Limited has hit the markets. Can you briefly walk us through your business and its model? Vivek Gupta: Q. Let's talk numbers. How has Oswal Pumps performed financially? Subodh Kumar: Live Events Q. What about your future plans? Any expansion on the cards? Vivek Gupta: Q. What differentiates Oswal Pumps from other players in the Indian market? Vivek Gupta: Q. How has the solar and pump manufacturing industry evolved over the last five years? And is Oswal focusing more on domestic or global markets? Vivek Gupta: Q. As of now, Oswal Pumps exports to about 22 countries, including Australia, Bangladesh, and Dubai. Any plans to expand further? Vivek Gupta: Q. How will the IPO proceeds be utilised? Vivek Gupta: ₹360 crore will go into capital expenditure for capacity enhancement and automation at Oswal Pumps. will go into capital expenditure for capacity enhancement and automation at Oswal Pumps. ₹260 crore will be invested in our 100% subsidiary, Oswal Solar, to scale solar module manufacturing from 0.6 MW to 2.1 GW. We'll also set up backward integration facilities — aluminium extrusion, EVA backsheet, JB box, and packaging plants. will be invested in our 100% subsidiary, Oswal Solar, to scale solar module manufacturing from 0.6 MW to 2.1 GW. We'll also set up backward integration facilities — aluminium extrusion, EVA backsheet, JB box, and packaging plants. ₹330 crore will be used to repay working capital debt, making Oswal Pumps a completely debt-free company . will be used to repay working capital debt, making Oswal Pumps a . The remaining ₹190 crore will be allocated towards general corporate purposes and working capital. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Oswal Pumps is a diversified water pump manufacturing company. We produce a wide range of pumps, from industrial and domestic to agriculture-based off-grid pumps, as well as solar pumps. What sets us apart is our strong backward integration, we manufacture pump motors, controllers, and even solar modules and structures operate in both the private and government sectors. Under the PM-KUSUM Yojana, we directly supply to government agencies and EPC players. We're also expanding into specialized segments like helical pumps, boiler feed pumps, PCB pumps, and chemical integration helps us maintain control over quality and cost, ensuring robust margins. It also positions us strongly in both the domestic and export of March 31, 2024, we recorded total revenue of ₹758 crore. For the nine months ended December 31, 2024, revenue stood at approximately ₹1,650 crore — a significant year-on-year gross margins improved from 35% (FY24) to 45% during the nine-month period. PAT margins also increased from 13% to 20%, reflecting strong operational efficiency and With this IPO, we aim to scale up our production capacity, especially in the solar pumps segment, which is growing rapidly. The government's goal to support over 8 crore farmers under the PM-KUSUM scheme creates immense market plan to expand our backward-integrated operations to better serve both government and private sector now, the market is vast and largely untapped. Only about 7.5 lakh solar pumps have been installed so far across India, so there's plenty of headroom for all said, our deep backward integration, end-to-end manufacturing capabilities, and experience give us a unique edge. We focus heavily on profitability and sustainability, which allows us to remain competitive in a cost-sensitive solar pump market in India has seen exponential growth. But while there are nearly 2,000 players in the pump sector, organised, semi-organised, and unorganised, very few have the advanced technology required for solar pumps. Oswal is among the top few with end-to-end solar pump manufacturing we're focused on both domestic and international markets. Exports and pan-India sales have grown by over 70–80% recently. And we plan to deepen our global footprint but with caution. While we export to over 20 countries currently, our priority is fulfilling strong demand in the Indian market. Our export lead times are longer — about 80–90 days — due to domestic supply said, once we expand capacity post-IPO, we aim to aggressively enter new geographies, particularly in Europe, the Americas, and other high-potential are raising ₹890 crore through a fresh issue. Here's the breakdown:
Time of India
14 hours ago
- Business
- Time of India
Demand is massive & supply is limited, we're here to fill that gap: Oswal Pumps top brass on Industry Landscape
STORY Oswal Pumps Limited, a leading manufacturer of water and solar pumps in India, has launched its ₹1,387 crore initial public offering. In an exclusive conversation with ET's Neha Vashishth, Chairman & MD Vivek Gupta and CFO Subodh Kumar lay out the company's expansion roadmap, financial performance, and what sets them apart in a rapidly growing solar pump industry. With operations spanning motors, controllers, and solar modules, the company is betting big on rural electrification, exports, and government schemes like PM-KUSUM. 'We're not just raising capital, we're expanding our family,' says Gupta, urging retail investors to be a part of Oswal's next growth phase. Excerpts: Q. The ₹1,387 crore issue of Oswal Pumps Limited has hit the markets. Can you briefly walk us through your business and its model? Vivek Gupta: Oswal Pumps is a diversified water pump manufacturing company. We produce a wide range of pumps, from industrial and domestic to agriculture-based off-grid pumps, as well as solar pumps. What sets us apart is our strong backward integration, we manufacture pump motors, controllers, and even solar modules and structures in-house. We operate in both the private and government sectors. Under the PM-KUSUM Yojana, we directly supply to government agencies and EPC players. We're also expanding into specialized segments like helical pumps, boiler feed pumps, PCB pumps, and chemical pumps. This integration helps us maintain control over quality and cost, ensuring robust margins. It also positions us strongly in both the domestic and export markets. Q. Let's talk numbers. How has Oswal Pumps performed financially? Subodh Kumar: As of March 31, 2024, we recorded total revenue of ₹758 crore. For the nine months ended December 31, 2024, revenue stood at approximately ₹1,650 crore — a significant year-on-year growth. Live Events Our gross margins improved from 35% (FY24) to 45% during the nine-month period. PAT margins also increased from 13% to 20%, reflecting strong operational efficiency and profitability. Q. What about your future plans? Any expansion on the cards? Vivek Gupta: Absolutely. With this IPO, we aim to scale up our production capacity, especially in the solar pumps segment, which is growing rapidly. The government's goal to support over 8 crore farmers under the PM-KUSUM scheme creates immense market potential. We plan to expand our backward-integrated operations to better serve both government and private sector demands. Q. What differentiates Oswal Pumps from other players in the Indian market? Vivek Gupta: Right now, the market is vast and largely untapped. Only about 7.5 lakh solar pumps have been installed so far across India, so there's plenty of headroom for all players. That said, our deep backward integration, end-to-end manufacturing capabilities, and experience give us a unique edge. We focus heavily on profitability and sustainability, which allows us to remain competitive in a cost-sensitive market. Q. How has the solar and pump manufacturing industry evolved over the last five years? And is Oswal focusing more on domestic or global markets? Vivek Gupta: The solar pump market in India has seen exponential growth. But while there are nearly 2,000 players in the pump sector, organised, semi-organised, and unorganised, very few have the advanced technology required for solar pumps. Oswal is among the top few with end-to-end solar pump manufacturing capability. Currently, we're focused on both domestic and international markets. Exports and pan-India sales have grown by over 70–80% recently. And we plan to deepen our global footprint further. Q. As of now, Oswal Pumps exports to about 22 countries, including Australia, Bangladesh, and Dubai. Any plans to expand further? Vivek Gupta: Yes, but with caution. While we export to over 20 countries currently, our priority is fulfilling strong demand in the Indian market. Our export lead times are longer — about 80–90 days — due to domestic supply commitments. That said, once we expand capacity post-IPO, we aim to aggressively enter new geographies, particularly in Europe, the Americas, and other high-potential markets. Q. How will the IPO proceeds be utilised? Vivek Gupta: We are raising ₹890 crore through a fresh issue. Here's the breakdown: ₹360 crore will go into capital expenditure for capacity enhancement and automation at Oswal Pumps. ₹260 crore will be invested in our 100% subsidiary, Oswal Solar , to scale solar module manufacturing from 0.6 MW to 2.1 GW. We'll also set up backward integration facilities — aluminium extrusion, EVA backsheet, JB box, and packaging plants. ₹330 crore will be used to repay working capital debt, making Oswal Pumps a completely debt-free company . The remaining ₹190 crore will be allocated towards general corporate purposes and working capital.
Hindustan Times
24-05-2025
- Hindustan Times
Excise crackdown on Gautam Budh Nagar liquor shops
The Uttar Pradesh excise department launched surprise inspections of liquor shops in various parts of Gautam Budh Nagar district late Thursday night. Shops selling country liquor, Indian Made Foreign Liquor (IMFL), and beer in Devta Sarkarpur, Bilaspur, and Bilaspur turn were inspected for compliance. Officials conducted dummy purchases to verify authenticity of liquor and checked CCTV cameras to ensure mandated surveillance systems were operational. 'The excise department is conducting a special enforcement drive across Gautam Budh Nagar to ensure strict compliance with all excise regulations. Our teams are inspecting liquor shops for valid stock, proper billing, functioning CCTV surveillance, and overall adherence to norms. We are also carrying out dummy purchases to detect illegal practices,' said excise officer Subodh Kumar. The department also set up road checkpoints at Sirsa T-point along with police personnel from Kasna police station to intercept illegally transported liquor and monitor suspicious vehicle movement. The focus remained on identifying operational irregularities, stock violations, and any activity leading to revenue leakage or unauthorised sale. During inspections, no major violations were found and minor irregularities were detected. Notices are being issued to the concerned vendors accordingly, officials said. 'All liquor outlets must comply strictly with excise rules. From stock records to CCTV systems, everything is being checked thoroughly. Any violations—big or small—will lead to immediate action. Our enforcement teams will continue surprise checks across the district,' said Kumar. The actions were part of a broader enforcement blitz on the directives of excise commissioner Adarsh Singh. The campaign is being carried out under the supervision of the district magistrate Manish Verma and commissioner of police, Laxmi Singh, as part of a zero-tolerance policy toward excise violations.
Time of India
13-05-2025
- Business
- Time of India
Studies affected in PU institutions as non-teaching staff go on indefinite strike
1 2 3 Patna: Administrative and academic activities in different institutions allied to Patna University (PU) remained paralysed to a great extent on Tuesday after its non-teaching staff of went on an indefinite strike in support of their 19-point demand. The employees, under the aegis of Patna University Employees' Association (PUEA), left their places of duty just after marking their attendance to sit on a dharna near the PU office, even as the administration has notified a "no work, no pay" order. Earlier, the agitating employees of PU office had gone on two days' mass casual leave on May 7 and 8 to press their pending demands, including appointments on compassionate grounds, removal of pay anomalies, payment of arrears and implementation of medical insurance scheme. Poll Do you support the non-teaching staff's indefinite strike at Patna University? Yes, it's necessary for their demands. No, it disrupts students' education. Subodh Kumar, PUEA president, blamed the university administration for not fulfilling their genuine demands. "On Dec 12 last year, an agreement was reached between the chancellor and employees' association that the demands would be implemented in phases within a period of two months. But, not a single demand has been fulfilled yet," he said. Registrar Shalini told the newspaper that the university is already working towards fulfilment of the genuine demands of the non-teaching staff as per the agreement reached at Raj Bhawan. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 'Swing is King': Mr. Hemant's Strategy Finally Explained in Free Session TradeWise Learn More Undo But, before the university could implement their demands, the employees have added some fresh demands in the list. "The university has already made its stand clear that the employees will not be paid their salaries without work. Students will face great academic losses if their courses are not completed on time and examinations are postponed owing to the employees' agitation," she said. Patna: Administrative and academic activities in different institutions allied to Patna University (PU) remained paralysed to a great extent on Tuesday after its non-teaching staff of went on an indefinite strike in support of their 19-point demand. The employees, under the aegis of Patna University Employees' Association (PUEA), left their places of duty just after marking their attendance to sit on a dharna near the PU office, even as the administration has notified a "no work, no pay" order. Earlier, the agitating employees of PU office had gone on two days' mass casual leave on May 7 and 8 to press their pending demands, including appointments on compassionate grounds, removal of pay anomalies, payment of arrears and implementation of medical insurance scheme. Subodh Kumar, PUEA president, blamed the university administration for not fulfilling their genuine demands. "On Dec 12 last year, an agreement was reached between the chancellor and employees' association that the demands would be implemented in phases within a period of two months. But, not a single demand has been fulfilled yet," he said. Registrar Shalini told the newspaper that the university is already working towards fulfilment of the genuine demands of the non-teaching staff as per the agreement reached at Raj Bhawan. But, before the university could implement their demands, the employees have added some fresh demands in the list. "The university has already made its stand clear that the employees will not be paid their salaries without work. Students will face great academic losses if their courses are not completed on time and examinations are postponed owing to the employees' agitation," she said.
