Latest news with #Vision2027
Time of India
a day ago
- Automotive
- Time of India
M&M eyes the world for its new SUVs, to reckon with Chinese brands
Over the last four years, Mahindra & Mahindra has made August 15 a commemorative occasion to make big ticket announcements on new products and strategic initiatives. These events have taken place in the UK and South Africa while India has played host in recent times. This time around in Mumbai, the company made known its intent to develop an all-new platform which would spawn four SUVs with different powertrain options including electric, petrol and diesel. More importantly, M&M said this was part of a larger global roadmap where countries like South Africa, Australia and the UK would be targeted for its new SUV range. Vision 2027 to that extent is a big step forward for the company where a slew of new SUVs will lead the way. This year's Freedom initiative also saw M&M unveil its Batman edition of the BE 6 electric SUV priced at nearly ₹28 lakh . The numbers will be limited to 300 units and clearly the idea is to present the masked hero from DC Comics to India's affluent younger generation which is perhaps more familiar with the movie series that continues to hit global screens. What we are hearing right now is a very large proportion of people who never considered MahindraRajesh Jejurikar BE 6 as the Indian Batmobile For those familiar with Batman, his comic debut goes back to 1939, three years after The Phantom (who was way more popular as a comic hero in India but did not make much of an impact in the US unlike Batman or Superman). There have been a whole lot of Batman movies which have made their way to India and his Batmobile now has an Indian sibling in the form of the BE 6. Clearly, the signal from M&M is that it is pushing the envelope harder in styling and design combined with modern, funky features that will appeal to India's growing pool of young automobile enthusiasts. Electric is a vital component of the world's tilt towards cleaner fuel alternatives and carmakers, especially those from China, have realised that they can really go the extra mile with radical concepts in design and the latest in electronics. The underlying message is this: electric does not have to be boring by way of merely offering a sole objective of protecting the environment. Today's SUV and motorcycle buyers value their independence and privacy, more so after COVID when they prefer to be in silos. It explains why premium bikes are sought after with exclusive riding clubs where people come together. Likewise, for the more affluent with higher disposable incomes, their cars and SUVs need to offer the feeling of a home away from home. Also Read: Mahindra unveils Global Vision 2027, showcases four 'NU' SUV concepts Right price points This is pretty much on the lines of smartphones which have now become essential companions for everyone. The key, however, for companies like M&M is to ensure that all this is offered at an affordable, or more specifically a value-for-money, price point. This is particularly true for EVs where the mass segment of buyers will typically be comfortable with offering priced at ₹15-18 lakh. As much as Indian customers like the latest features in their EVs, there is only so much that they will be ready to cough up. To that extent, the MG Windsor has hit the sweet spot which is borne out by its market share of over 30 per cent in the EV space and its rapid growth since its debut in September last year. M&M's BE 6 and XEV 9e have doubtless made a mark with combined sales at over 3,000 units each month and in the third place after Tata Motors and MG Motor India. However, offering more price options under ₹20 lakh can draw more buyers and this is where the new platform, NU_IQ, unveiled on August 15, will play a role. The fact that petrol and diesel will also be offered in the four concept SUVs that were unveiled also indicates that it makes more sense to be pragmatic and not focus on electric alone. Across the world, countries are going a lot slower on their EV plans since they have realised that it makes little sense to put all their eggs in one basket. Also Read: Mahindra eyes 350-acre land acquisition in Igatpuri for expansion China challenge There are enormous challenges in planning economies of scale and European and Japanese carmakers know only too well that competing with the Chinese is a completely different kettle of fish. It also explains why both the US and EU have placed firewalls in the form of tariffs on EV imports from China simply because their own brands could be wiped out in the process. This is evident from the rapidly diminishing market share of top brands like Volkswagen in China where they once reigned supreme but now face pressure from EV players like Geely, SAIC and many other local brands. Beyond traditional automakers, the likes of Xiaomi and Huwaei, which are in the electronics space, have also thrown their hats into the EV ring and have a huge list of bookings already in place for their SUVs. As for M&M, it has been on a high for sometime now thanks largely to the stupendous market response to the Thar and its sibling the Thar Roxx. It then had potential customers floored with the BE 6 and XEV 9e which literally redefined the design game coupled with top-class performance. The market was gobsmacked simply because M&M had taken the EV package many notches higher with a host of radical features. The duo has now been notching average monthly numbers of 3,000 units combined with the XEV 9e taking up a larger chunk of sales. We were selling this as a lifestyle SUV statement, what we may call 'objects of desire', based on three primary bases of Jejurikar Multiplier effect In one of its more recent Q&A sessions with analysts, the leadership team had said that the dynamics of launching two products at the same time was actually leading to a positive multiplier effect since the two segments are so different. 'What we are hearing right now is a very large proportion of people who never considered Mahindra,' Rajesh Jejurikar, ED & CEO, Auto and Farm Sectors, had said. There were people in the ₹25 lakh-30 lakh car bracket looking at luxury brands or owning a luxury brand. As a result, it was a very different profile of customer than what the company had handled in the past. By the end of the day, M&M was confident that its electric SUV strategy, based on 'three primary bases of differentiation' would pay off in the market. 'We had also spoken about the fact that we wanted to launch these as highly aspirational 'wow' offerings. We first had to get the customer emotionally connected to 'Yeah, I need to own this' or 'I really want to own this', and then start dealing with some of the barriers which come in the way,' continued Jejurikar. The company had made it clear that it was not planning to retail the new offerings on conventional parameters of economy or fuel saving and so on. 'We were selling this as a lifestyle SUV statement, what we may call 'objects of desire', based on three primary bases of differentiation. One is the design, the second is the HMI or the intuitive human machine interface and third is the high-tech features,' he said. Also Read: Mahindra plans world tour on multi-energy, modular SUV platform Broader horizons Now, with the new NU_IQ platform, M&M has clearly set its sights on broader horizons. As part of its Global Vision 2027, the company believes there is more headroom to grow with its new basket of authentic core SUVs . 'We will stay true to this space with best in class features and go global,' said the leadership team. The goal is to offer world-beating products with the best ground clearance, super relaxing legroom, huge luggage space and vehicles designed for global safety standards. M&M has been on a roll lately after losing its way for some years. The recently announced global plans will need to factor in the reality of Chinese rivals who are already going out for the kill while exploring new geographies across Europe, Latin America and ASEAN. M&M has a presence in South Africa and Australia which means it will have its work cut out taking on the Chinese in the coming years.
News18
23-07-2025
- Business
- News18
Westlife Foodworld Q1 net profit down 63 pc to Rs 1.22 cr, sales at Rs 653 cr
New Delhi, Jul 23 (PTI) Westlife Foodworld, operator of McDonald's restaurants in West and South India, on Wednesday reported a decline of 62.5 per cent in its consolidated net profit to Rs 1.22 crore in the June quarter. The company had posted a consolidated net profit of Rs 3.25 crore in the April-June quarter a year ago, according to a regulatory filing from Westlife Foodworld. However, its sale rose 6.45 per cent to Rs 653.25 crore in the June quarter of FY26. In the year-ago period, the same stood at Rs 613.64 crore. 'The company delivered Same-Store Sales Growth (SSSG) of 0.5 per cent, marking the third consecutive quarter of positive momentum, driven by stable guest counts and average check," Westlife Foodworld said in its earnings statement. Total expenses of Westlife Foodworld in the June quarter climbed 7.43 per cent to Rs 662.78 crore. In the June quarter, on-premise sales grew by 8 per cent Year-on-Year (YoY), contributing 59 per cent to total sales, while Off-Premise sales increased by 4 per cent YoY. 'Off-Premise business salience at 41 per cent remains in line with last 3-year average, reinforcing the strength and relevance of the company's robust omni-channel presence," it said, adding that 'digital sales contribution reached 75 per cent, growing by over 500 bps YoY driven by mobile apps and self-ordering kiosks." The company's total income, which includes other incomes, increased 7 per cent to Rs 664.44 crore in the June quarter In the June quarter, Westlife Foodworld added nine new restaurants, expanding its footprint to 444 restaurants across 71 cities. It also achieved a milestone of crossing the 100 Drive-Thrus mark. 'It currently operates 106 Drive-Thrus, which constitute approximately 24 per cent of total restaurants," it said. In a separate filing, Westlife Foodworld informed that its board in a meeting held on Wednesday approved an interim dividend of 75 paise per equity share of face value of Rs 2 each for FY26. This is on the basis of the financial performance by the company in the June quarter. On the outlook, Chairperson Amit Jatia said: 'As India's consumption story continues to evolve, we see significant opportunity in both existing and emerging markets." 'Our Vision 2027 framework is designed to capitalise on these structural growth drivers. We believe that our three key strategic priorities of daypart leadership, omnichannel integration, and network expansion will not only enhance shareholder value but also redefine the QSR experience for consumers," Jatia added. Shares of Westlife Foodworld Ltd on Wednesday settled at Rs 776.50 apiece on the BSE, up 2.11 per cent from the previous close. PTI KRH KRH SHW view comments First Published: July 23, 2025, 17:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Business Standard
17-06-2025
- Business
- Business Standard
MPS rises after appointing Sreenivas Trichy Venkatraman as COO
MPS advanced 2.28% to Rs 2,717.35 after the company announced that it has appointed Sreenivas Trichy Venkatraman as the chief operating officer (COO) of the company, effective from 16 June 2025. Sreenivas brings over 25 years of global leadership experience across industries such as retail, insurance, technology, media, and telecommunications, with significant stints in the USA, Canada, and India. His most recent role was at ITC Infotech, where he led a high-performing business unit with annual revenues exceeding $80 million, managing cross-functional teams and driving operational transformation and customer-centric innovation. Prior to that, he spent more than 15 years at Publicis Sapient in India and the U.S., where he was instrumental in building the digital experience practice. He led strategic client partnerships, large-scale digital transformation engagements and played a key role in talent development and delivery excellence. Sreenivas holds an MBA in Systems and Finance, a bachelors degree in Electronics and Communication Engineering, and an advanced diploma in Systems Management and Object-Oriented Programming Systems. At MPS, he will be responsible for driving operational and strategic initiatives, focusing on optimizing performance across the companys global operations. He will also lead efforts to align MPS over 3,000 professionals with the companys Vision 2027, aimed at reinforcing its leadership in premium B2B learning and platform solutions. MPS said Sreenivas appointment is expected to strengthen its operational efficiency and technology-led growth trajectory. The company also clarified that Sreenivas is not related to any of the directors of the company. MPS provides platforms and services for content creation, full-service production, and distribution to the worlds leading publishers, learning companies, corporate institutions, libraries, and content aggregators. The companys consolidated net profit surged 63.9% to Rs 47.07 crore on a 21.9% rise in net sales to Rs 182.11 crore in Q4 FY25 over Q4 FY24.
Time of India
14-06-2025
- Business
- Time of India
Bring the action to Hyderabad, chief minister Revanth Reddy tells Tollywood
Hyderabad: Chief minister A Revanth Reddy on Saturday called on the Telugu film industry to draft a vision document that would contribute to Telangana's goal of becoming a $3 trillion economy by 2047. Speaking at the Telangana Gaddar Film Awards 2025 function in Hyderabad, Revanth said that just like the govt is preparing sectoral plans for IT, pharma, and other industries, the film industry too will have a dedicated chapter in the state's upcoming Vision 2027 document. 'Bring Hollywood and Bollywood to Hyderabad — this is where the action should be,' the CM told acclaimed director SS Rajamouli. 'You tell me what infrastructure you need; we will create it,' he said. Revanth said that while govt decisions may sometimes appear stringent, they are always aimed at empowering the film industry. Recalling the legacy of Congress govts, he said it was the Congress that instituted the Nandi Film Awards in undivided AP in 1964. He added that no film awards were given over the past 14 years, but the Telangana govt has now revived them, honouring filmmakers and artistes for every year since the formation of the state in 2014. Addressing the new generation of actors, Revanth urged stars like Pawan Kalyan, Mahesh Babu, and Allu Arjun to take a leadership role in advancing the industry's contribution to the state's economic vision. 'When India marks 100 years of independence in 2047, Telangana should also celebrate by achieving this ambitious milestone,' he said. Revanth emphasised that Telangana's competition is not with other Indian cities like Amaravati or Mumbai, but with global economic powerhouses such as New York, Tokyo, and Seoul. 'Regardless of my role in politics or govt, I am committed to achieving our $3 trillion goal,' he asserted. Paying tribute to revolutionary balladeer Gaddar, in whose name the film awards are instituted, the CM said, 'Gaddar inspired the movement for a separate Telangana. He remains a guiding force for us all.' On the occasion, the CM announced a govt contribution of Rs 3 crore to the Gaddar Foundation. Gaddar's son, Surya Kiran, thanked the govt and said the funds would help preserve Gaddar's memory and ideals. Deputy chief minister Bhatti Vikramarka and cinematography minister Komatireddy Venkat Reddy presented the film awards. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
Mint
03-06-2025
- Business
- Mint
Why did Servotech Renewable share price jump 19% despite stock market crash? Explained
Servotech Renewable Power System share price in focus: Shares of Servotech Renewable Power System (formerly Servotech Power Systems Ltd.), a manufacturer of EV chargers, solar products, and power backup solutions, jumped 19% on Tuesday, June 3, hitting a 3-month high of ₹ 146 apiece, even as the broader Indian stock market continued to decline for the third straight session. The sharp rally in the stock followed the arrival of Errol Musk, father of billionaire Elon Musk, who owns Tesla, SpaceX, and the microblogging platform X—in India on Sunday, June 1, for a five-day visit. During his stay, Musk is expected to provide strategic advisory support to Servotech's solar and EV charging division, with the aim of 'forging partnerships for a green tomorrow.' Errol Musk is a member of Servotech's global advisory board, which guides the NSE-listed company in its mission to develop cutting-edge EV charging solutions. As part of his engagement, the company said he will tour Servotech's manufacturing facilities in India and participate in curated roundtable sessions with key government stakeholders and investor groups. Earlier in mid-May, Servotech had announced that Musk would play a central role in steering its global expansion efforts, supporting the company's 'Vision 2027'—an ambitious roadmap to transform India's renewable energy landscape and position Servotech as a sustainability leader in international markets. Musk's advisory position is expected to bring international experience and a fresh perspective to the Indian clean energy player. The company said his engagement will include a wide range of activities—from interacting with key policymakers and investors to actively participating in board-level strategic discussions. He is also expected to contribute to media outreach initiatives and promote Servotech across his personal social media platforms. The company, on May 7, announced the appointment of Errol Musk to its Global Advisory Board. Servotech Renewable Power System share price has been buzzing on Dalal Street following a series of order wins and stellar performance in the March quarter. For the March-ended quarter, the company posted a two-fold rise in net profit to ₹ 7.71 crore, driven by higher revenues. In late April, the company won a 4.1 MW on-grid solar order from the Indian Railways zone, valued at over ₹ 15 crore on April 23. Despite the stock trading at a healthy discount from its record high of ₹ 205 apiece, recorded in September 2025, it is still up by 2,200% in the last 3 years and 13,500% over the last 5 years. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
