ABB Power Products & Systems: The company informed that the operations at its manufacturing facility situated in Peenya (Bengaluru) has resumed from May 28, 2021.
Nilkamal: During FY21, the company added 20 new franchise/company-operated stores thereby, aggregating to 71 stores in all. It also started the state-of-the-art distribution centre at Bhiwandi (Maharashtra) in order to cater to the existing and future requirements of the company. During the year FY21, in a short span of time by utilising its strengths in designing products & manufacturing capabilities, the company was quick to introduce new products to address COVID concerns. Some of the new products & services include ‘Quick COVID Bed’, isolation bed, VirusGUARD, TravelGUARD, ‘Body Management Box’ along with work from home furniture, etc. Further, the company was able to rise to the occasion by supplying vaccine carriers and cold boxes for the mega vaccination drive organised by the government.
BEML: In the wake of the second wave of COVID-19 pandemic as well as to mitigate the oxygen shortages in the country for COVID patients, BEML has successfully started manufacturing 960 LPM medical oxygen plants at its KGF complex in record time under a ToT agreement with Defence Bio-Engineering & Electro Medical Laboratory (DEBEL) under DRDO.
M&M: Ministry of Defence signed a contract with Mahindra Telephonics Integrated Systems Ltd for the procurement of 11 airport surveillance radars with Monopulse Secondary Surveillance Radar for Indian Navy as well as Indian Coast Guard.
Lupin: Lupin launches authorised generic version of Brovana® in the United States.
Cupid: The company’s order book as of April 2021 stands at Rs 113 crore.
Nitin Spinners: Cotton Textiles Export Promotion Council (TEXPRoCIL) has conferred the following awards to the company for its export performance during the FY 2o19-2o.The list of awards are as follows: Silver trophy for the second-highest export performance in cotton yarn - counts 50s & below under Category III and Gold trophy for the highest export performance in cotton yarn - counts 51s & above under Category I.
Nava Bharat Ventures: The company has informed regarding an agreement entered for the sale of plant & equipment, excluding land, pertaining to the sugar division of the company situated in Andhra Pradesh. The said agreement of sale stands rescinded due to non-fulfilment of certain conditions specified therein by the other party while the part payments made by the other party stand adjusted against liquidated damages.
Arvind Fashions: The Q4FY21 revenue grew by 14 per cent with marginally positive like-to-like (LTL) store sales. This was driven by strong recovery across the channels and increasing footfalls in the stores. It was further aided by continued traction in the online channel. The company’s balance sheet is strengthened in comparison to March 2020 with gross & net working capital reduction by Rs 523 crore and Rs 172 crore, respectively in FY21 through sharper controls around inventory & debtors and new ways of buying. The company has also witnessed a reduction in the net debt by 300+ crore via equity infusion and working capital improvement.