Latest news with #Tier3
North Wales Chronicle
4 days ago
- Sport
- North Wales Chronicle
Bala Town FC manager resigns after 22-year spell with club
Colin Caton's resignation came 'with deep regret', the club said in a statement this morning (June 3). Caton was described as 'an unbelievable servant' of the club, which he had been associated with since 2003. He was praised for having 'transformed us from a team languishing at a low level in Tier 3 to the very top of Welsh domestic football'. A club statement read: 'The club have had a hugely difficult and challenging 12 months, and the culmination of this has resulted in Colin facing an almost impossible task to continue in his position. 'The issues which we, as a small club within the JD Cymru Premier League, (face) have been widely discussed, but there has been no assistance or resolution regarding the concerns raised.' Last month, Bala Town made the 'difficult' decision to withdraw from the Football Association of Wales' (FAW) National Academi programme. The club said it is no longer able to sustain a full player development pathway into its first team as a result of new academy licensing changes. In March 2023, Bala Town was awarded a category C license under the leadership of then-head of academy, Carwyn Edwards. But the club said this decision led to the 'immediate withdrawal of all financial support from the FAW over the past two years'. Bala Town said it has since had to self-fund its academy's continued operation. 'The challenges have had a personal effect on many involved in our club, but we remain resolute in our determination to continue our journey at the very highest level of domestic football in Wales. 'He leaves after 880 matches at the helm and an encyclopaedia of achievements: promotion in his first season to the Cymru Alliance, then three NEWFA Challenge Cup and three Cymru Alliance League Cup wins, then promotion at last after five seasons into the Welsh Premier League in 2009, and then 16 years consecutively in the Cymru Premier. 'The club will be forever grateful to Colin for his outstanding service, his complete commitment to the position, his dedication, his enthusiasm, his determination, his professionalism and his outstanding achievements. 'His resignation will not affect the bond of friendship and family which he has with so many within the club. 'His resignation will never lessen the wonderful memories and his resignation will certainly never dim the admiration, the respect and the gratitude which Bala Town holds for Colin.' Bala Town added that it will now 'take the necessary steps to safeguard the future' of the club.
Yahoo
28-05-2025
- Business
- Yahoo
TTK Prestige Ltd (BOM:517506) Q4 2025 Earnings Call Highlights: Navigating Growth Amidst Margin ...
Total Sales Growth: 4% including exports. Domestic Sales Growth: 3%. EBITDA: INR 72.5 crores for the quarter, down from INR 100 crores in the previous year. Annual Revenue Growth: 1.2% with INR 2,400 crores in domestic sales. Annual EBITDA: INR 339 crores, down from INR 386 crores last year. Annual Margins: 13.4% overall margin, 10.7% operating margin. Number of Stores: 667 stores. New SKUs Introduced: 44 in the quarter, 191 during the year. Cash Position: Comfortable, despite CapEx, dividends, and buyback expenses. Warning! GuruFocus has detected 4 Warning Signs with BOM:517506. Release Date: May 27, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. TTK Prestige Ltd (BOM:517506) reported a positive growth trajectory, with domestic sales growing by 3% and total sales, including exports, increasing by 4%. The company has introduced 191 new SKUs during the year, which has helped gain significant counter presence and growth in various channels. TTK Prestige Ltd (BOM:517506) is focusing on premiumization in urban markets and expanding into Tier 2 and Tier 3 towns, leveraging e-commerce channels for aggressive demand generation. The Judge brand has been repositioned and is growing well, contributing to the company's growth strategy, particularly in Tier 2 and Tier 3 towns. The company is investing in capacity and capability building, including renewable energy and automation, to strengthen its manufacturing capabilities and leverage future demand. TTK Prestige Ltd (BOM:517506) faced pressures on raw material pricing, which affected margins, with EBITDA declining to INR72.5 crores from INR100 crores in the previous year. The company is incurring significant soft operational expenses, which are expected to continue for the next 8 to 10 quarters, potentially diluting EBITDA margins. The MFI channel has been subdued due to structural and policy changes, impacting sales in this segment. CSD channel sales have also been subdued due to internal operational rationalizations, affecting overall growth. The company anticipates a period of diluted margins due to ongoing investments, with a focus on long-term growth rather than immediate profitability improvements. Q: With the growth in traditional channels and the impact on MFI channels, can we expect TTK Prestige's growth to move towards double digits in the next quarter? A: Venkatesh Vijayaraghavan, CEO, stated that while they don't provide specific guidance, the growth is expected to be positive as they are seeing positive trends quarter-on-quarter. Q: Can you explain the consultancy expenses and their impact on EBITDA? A: Saranyan R, CFO, explained that the one-off expenses for long-term growth impacted EBITDA by about 2% during the quarter. These expenses are expected to continue for the next 8 to 10 quarters as part of a planned INR 200 crore investment over three years. Q: What is driving the positive growth in the industry and for TTK Prestige? A: Venkatesh Vijayaraghavan, CEO, noted that all categories are seeing a revival, with appliances growing faster than kitchenware. Growth is driven by premiumization, especially in southern markets, and channels like quick commerce and e-commerce. Q: What is the strategy for the Judge brand, and how is it being repositioned? A: Venkatesh Vijayaraghavan, CEO, explained that the Judge brand targets a different audience than Prestige, focusing on Tier 2 and Tier 3 towns. The brand has been repositioned with a clear product portfolio and distribution strategy, showing good growth in cookware and cookers. Q: Can you provide details on the planned INR 300 crore CapEx over the next two years? A: Venkatesh Vijayaraghavan, CEO, stated that the CapEx will focus on core categories, including expanding capacities in aluminum and stainless steel tri-ply, as well as appliances. Investments will also be made in automation and renewable energy. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Al Bawaba
27-05-2025
- Business
- Al Bawaba
Investcorp Announces Sale of Citykart to TPG NewQuest and A91
Investcorp, a leading global alternative investment firm, today announced the sale of its entire stake in Citykart, one of India's fastest-growing value retailers focused on Tier-2 and Tier-3 towns, to TPG NewQuest and A91 Partners. It represents the fifth full exit from the firm's India Consumer Growth Portfolio (ICGP) and the sixth liquidity event for the India franchise in the past 32 operating scale-up has seen the store network expand dramatically from 37 to 137 stores. This leads to an estimated revenue of INR 8.8 billion (about US $102 million) for FY 2025. This growth is mirrored by a matching growth in EBITDA, with sustained industry leading margins. It has consistently delivered profitability while building core functions, strengthening governance, and attracting strong talent across leadership and mid-management Investcorp has been instrumental in fostering a strategic partnership with founder Sudhanshu Agarwal, focusing on building a professional second line, integrating the W-Mart acquisition, revitalising under-performing stores, and optimising sourcing and inventory Sharma, Partner & Head of India Investments at Investcorp, said: 'Citykart was the very first deal we executed after formally entering India in 2019, and it epitomizes our strategy of backing category-defining, founder-led businesses in high-growth segments. Today's outcome underscores our ability to generate attractive risk-adjusted returns while supporting India's consumption story.'Yusef al Yusef, Global Head of Distribution atInvestcorp, commented: "Partnering with the Citykart team to triple the store base, steer the business through the pandemic and still outperform our underwriting is immensely satisfying. We thank all stakeholders and are confident that TPG NewQuest and A91 will help Citykart accelerate its next growth phase.'Other recent realizations besides Citykart include the sale of its stake in luggage maker Safari Industries, a profitable exit from eyecare specialist ASG Eye Hospital, a planned IPO-led exit from health-benefits administrator Medi Assist Healthcare, and a partial exit from dialysis network NephroPlus. Investcorp's India private equity strategy targets asset-light opportunities across consumer & retail, healthcare, financial services, B2B and technology. Its active Indian holdings include Global Dental, Wakefit, Canpac, Xpressbees, Zolo, Freshtohome, Intergrow Brands, Unilog, V-Ensure, and the buy-out of NSE IT, rechristened NuSummit among others, demonstrating Investcorp's commitment to scaling high-growth businesses while realising timely liquidity for investors.
Trade Arabia
27-05-2025
- Business
- Trade Arabia
Investcorp sells stake in India's Citykart
Investcorp, a leading global alternative investment firm, today announced the sale of its entire stake in Citykart, one of India's fastest-growing value retailers focused on Tier-2 and Tier-3 towns, to TPG NewQuest and A91 Partners. It represents the fifth full exit from the firm's India Consumer Growth Portfolio (ICGP) and the sixth liquidity event for the India franchise in the past 32 months. The operating scale-up has seen the store network expand dramatically from 37 to 137 stores. This leads to an estimated revenue of INR8.8 billion (about $102 million) for FY 2025. This growth is mirrored by a matching growth in EBITDA, with sustained industry leading margins. It has consistently delivered profitability while building core functions, strengthening governance, and attracting strong talent across leadership and mid-management levels. Furthermore, Investcorp has been instrumental in fostering a strategic partnership with founder Sudhanshu Agarwal, focusing on building a professional second line, integrating the W-Mart acquisition, revitalising under-performing stores, and optimising sourcing and inventory processes. Gaurav Sharma, Partner & Head of India Investments at Investcorp, said: 'Citykart was the very first deal we executed after formally entering India in 2019, and it epitomises our strategy of backing category-defining, founder-led businesses in high-growth segments. Today's outcome underscores our ability to generate attractive risk-adjusted returns while supporting India's consumption story.' Yusef al Yusef, Global Head of Distribution at Investcorp, commented: "Partnering with the Citykart team to triple the store base, steer the business through the pandemic and still outperform our underwriting is immensely satisfying. We thank all stakeholders and are confident that TPG NewQuest and A91 will help Citykart accelerate its next growth phase.' Other recent realisations besides Citykart include the sale of its stake in luggage maker Safari Industries, a profitable exit from eyecare specialist ASG Eye Hospital, a planned IPO-led exit from health-benefits administrator Medi Assist Healthcare, and a partial exit from dialysis network NephroPlus. Investcorp's India private equity strategy targets asset-light opportunities across consumer and retail, healthcare, financial services, B2B and technology. Its active Indian holdings include Global Dental, Wakefit, Canpac, Xpressbees, Zolo, Freshtohome, Intergrow Brands, Unilog, V-Ensure, and the buy-out of NSE IT, rechristened NuSummit among others, demonstrating Investcorp's commitment to scaling high-growth businesses while realising timely liquidity for investors. - TradeArabia News Service
Entrepreneur
08-05-2025
- Automotive
- Entrepreneur
91Trucks Secures $5M Series A Funding Led by Arkam Ventures
With the rising demand for new and pre-owned commercial vehicles across Tier 2 and 3 cities, 91Trucks is building an India-focused platform for small fleet operators and first-time buyers, providing access to vehicle discovery and buying, financing, and comprehensive post-purchase support. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. 91Trucks, a full-stack commercial vehicle platform, announced that it has raised USD 5 million in Series A funding led by Arkam Ventures, with participation from existing investors, Titan Capital Winners Fund, Sparrow Capital, and Atrium Angels. With the rising demand for new and pre-owned commercial vehicles across Tier 2 and 3 cities, 91Trucks is building an India-focused platform for small fleet operators and first-time buyers, providing access to vehicle discovery and buying, financing, and comprehensive post-purchase support. According to the company, the funds raised will be used to expand its product and technology capabilities, scale its team, and expand its offline retail footprint to more than 20 stores. Founded in October 2022 by Siddharth Sharma, Vikas Sharma, and Abhishek Gautam, 91Trucks offers a full-stack platform that provides end-to-end support for used truck buyers. The company also handles the entire process, including providing access to affordable financing, handling insurance, fitness checks, and RTO transfers, ensuring a seamless and reliable ownership experience. In the next 3 years, 91Trucks is targeting to sell 10,000 CVs annually. Announcing the fund raise, Siddharth Sharma, CEO and Cofounder, 91Trucks said, "Over 55 per cent of CV sales in India comprise of small commercial vehicles, primarily used for last mile delivery and owned by small fleet owners and driver operators. We are on a mission to organize and grow this segment. We are building a full-stack platform for fleet operators, removing the existing frictions plaguing the CV industry. In the last two years, our revenue has grown by 8x and with this funding, we will accelerate our physical footprint across Tier 2 and 3 cities, invest in technology, particularly in AI, and strengthen our team. We are thrilled to have Arkam as well as existing investors join us on this journey." According to Bala Srinivasa, Managing Director at Arkam Ventures, "As India charts to become an USD 8 trillion economy over the next decade, logistics will be a key driver of this expansion, especially driven by trends like quick commerce. India's logistics and transportation ecosystem comprises small fleet operators and driver owners who move 80 per cent of India's goods, yet face persistent challenges in accessing high-quality used vehicles and financing. We are delighted to partner with a strong 91Trucks founding team that is using their past experiences to reimagine India's used truck ecosystem via a tech-led full-stack solution that eliminates massive inefficiencies. Their ability to integrate technology with offline retail brings efficiency and trust to a market that has historically lacked both." Shiv Kapoor, Vice President at Titan Capital Winners Fund, said, "91Trucks is approaching this big market with a phygital solution, which fits well for India. Their ability to build a trusted brand in this space will give them the right to offer not just the vehicles but allied services in a one-stop shop approach. We have seen with the initial stores how buyers resonate with their offering. The founders are a great fit for this business as they understand the biggest pain points and opportunities that they can tackle in a tech-first way."
