The Hinduja Family Secures Top Spot on the Sunday Times Rich List 2024

Chandigarh, 17 May, 2024: The Hinduja family led by Mr. Gopichand Hinduja, Chairman of the Hinduja Group, a 110-year-old multinational conglomerate with a multi-billion dollar turnover, has topped the Sunday Times Rich List at £37.196 Billion. The Sunday Times Rich List compiles the net wealth rankings of the top 1,000 individuals or families residing in the United Kingdom, highlighting the wealthiest among them. This prestigious ranking is a testament to the Hinduja Groups remarkable achievements and outstanding success in the world of business.

The UK-based family’s group of companies, headed by Chairman, G.P. Hinduja, operates in 38 countries and across several sectors – mobility, Digital Technology, Banking and Financial Services, Media, Project Development, Lubricants and Specialty Chemicals, Energy, Real Estate, Trading, and Healthcare.

Beyond the remarkable business accomplishments of the Hinduja Family they remain actively engaged in philanthropic initiatives through the Hinduja Foundation. With a focus on education, healthcare, and community development, the foundation has positively impacted countless lives.

British Prime Minister Rishi Sunak and wife Akshata Murty, who made their debut in the annual ‘Sunday Times Rich List’ two years ago, have moved up the ranks in the 2024 edition. The couple, have risen from 275th last year to 245th with an estimated wealth of GBP 651 million.

Among the other esteemed names featured on The Sunday Times Rich List 2024 are Sir Leonard Blavatnik with £29.246bn, David and Simon Reuben and family with £24.977bn, Sir Jim Ratcliffe with £23.519bn, Sir James Dyson and family with £20.8bn, Barnaby and Merlin Swire and family with £17.2bn, Idan Ofer with £14.96bn, and Lakshmi Mittal and family with £14.921bn net worth.

Tata Power reports highest ever PAT of₹ 4,280 crore and Revenue of ₹ 61,542 crore for FY24

· Consolidated EBITDA for FY24 grows 26 % to an all-time high of ₹ 12,701 crore

· Q4FY24 PAT up 18% to ₹ 1,109 crore; clocks 18^th consecutive quarter of PAT growth

· Board recommends dividend of ₹ 2 per equity share

Financial Highlights

Milestones

· FY24 PAT at an all-time high at ₹ 4,280 crore · Consolidated Revenue for FY24 grows 10% to an all-time high of ₹ 61,542 crore · Consolidated EBITDA for FY24 grows 26 % to an all-time high of ₹ 12,701 crore · Q4FY24 PAT grows 18% to ₹ 1,109 crore · Q4FY24 Revenue grows 27% to ₹ 16,256 crore · Q4FY24 EBITDA grows 8% to ₹ 3358 crore • CRISIL Ratings Limited has upgraded the Company’s Long-Term rating on the bank loan and debt facilities from ‘CRISIL AA/Positive’ to ‘CRISIL AA+/Stable’ and has reaffirmed its ‘CRISIL A1+’ rating on the Company’s commercial paper programme and short-term facilities

· Renewables portfolio stands over 10 GW · 4.3GW Cell & Module manufacturing facility in Tirunelveli, Tamil Nadu has commenced production and commercially produced around 130MW of Modules in Q4FY24 · Commissioned India’s largest Solar (100 MW) & Battery (120 MWh) Storage Project in Chhattisgarh · Rooftop Business portfolio now stands over 2 GW · Won 1.9 GW of Firm and Dispatchable Renewable Energy Projects · Transmission portfolio stands at 6277 Ckm. Recent wins of ₹ 2300 crore include Jalpura Khurja Power Transmission Limited & Bikaner-III Neemrana-II Transmission Limited · Continues to enjoy over 50% of market share in distribution business amongst private sector, serving ~ 12.5 mn consumers · Installed over 10 lakh Smart Meters across India · Energized 86,000+ home chargers and ~5500 public and captive EV charging points & 850+ bus charging points · Rooftop and Distribution Businesses empower over 1,20,000 green customers nationwide

Chandigarh, May 8^th, 2024: Tata Power, one of India’s largest integrated power companies, today reported its highest ever PAT of ₹ 4,280 crore for the financial year ended March 31, 2024. The Company has maintained strong growth momentum by reporting PAT growth for the 18^th consecutive quarter to ₹ 1,109 crore for Q4FY24. The company’s market capitalisation has surpassed ₹1.4 lakh crore.

FY24 saw the company achieve its highest-ever Revenue and EBITDA at ₹ 61,542 crore and

₹ 12,701 crore respectively, backed by a strong rising share from core businesses of Generation, Transmission & Distribution and Renewables, which contributed 74% to FY24 PAT compared to 44% in FY23.

Consolidated financial performance (in ₹ crore)

Particulars	Q4 FY24	Q4 FY23	% Change YoY	FY24	FY23	% Change (YoY)
Revenue	16,256	12,755	27%	61,542	56,033	10%
EBITDA	3,358	3,101	8%	12,701	10,068	26%
PAT (before exceptional)	1,109	939	18%	4,109	3,810	8%
Reported PAT	1,046	939	11%	4,280	3,810	12%

The Company’s Board of Directors has recommended a dividend of ₹ 2 per equity share, subject to shareholders’ approval.

Dr. Praveer Sinha, CEO and Managing Director, Tata Power, said, ” The Company reported yet another quarter of stellar results with Q4FY24 being the 18th consecutive quarter of PAT growth. The operational and financial performance of all our core businesses – Generation, T&D and Renewables – has been strong and is on a growth path.

Today, Tata Power stands at the forefront of India’s energy transition with its integrated presence across the value chain. Our clean energy portfolio will touch 15 GW by FY27 and we are committed to supplying round-the-clock renewable energy to our consumers with a mix of solar, wind and Pumped Hydro Storage Projects in our portfolio.

The Odisha Discoms have demonstrated the success of the Public Private Partnership model and are now profitable within a short span of three years. We are well-poised to take on newer power distribution opportunities once they open for privatization.

The rooftop solar business is displaying growth momentum and with a portfolio of over 2 GW, we are well-positioned to tap the increasing opportunities, especially under the PM Surya Ghar Yojana which aims to light up one crore households.

We continue our journey to be the most preferred and trusted green energy solutions provider and utility of choice for every customer.”

Tata Power’s 4.3GW Cell & Module manufacturing facility in Tirunelveli, Tamil Nadu has commenced production and commercially produced around 130MW of Modules in Q4FY24. The Company’s inclusion in MNRE’s ALMM (Approved List of Models and Manufacturers) scheme further strengthens its position to significantly contribute towards PM Surya Ghar Yojana.

The Company is on an accelerated growth trajectory of transitioning to green energy and aiming for around 70% of capacity from non-fossil-based fuels by 2030.

As of 31^st March 2024, the Company has 4.5 GW of renewable capacity operational and another 5.5 GW of projects under implementation, taking the total green energy portfolio to over 10 GW.

The Company has 6,277 Ckm (Circuit Kms) of transmission lines portfolio including 1,651 Ckm capacity in pipeline. During FY24, the Company won two projects worth ~ ₹ 2,300 crore under Tariff-Based Competitive Bidding (TBCB) process – the Interstate Transmission System (ISTS) – Bikaner III Neemrana II Transmission Ltd and the Intrastate Transmission Scheme in Uttar Pradesh through SPV Jalpura Khurja Power Transmission Ltd.

Odisha Distribution Business, a turn-around success story, continues to report profit. Backed by continuous reduction in AT&C losses and better working capital management, it reported PAT growth of 21% to ₹ 307 crore for FY24.

Operational Highlights Q4FY24/FY24:

Renewables enabling a strategic transition towards Green Energy –

· Renewable portfolio capacity stands at 10 GW, inclusive of 5.5 GW in the implementation pipeline

· Tata Power Renewable Energy Ltd.’s (TPREL) utility scale EPC order book stands at 2.6 GW worth ₹ 13,400 crore. Rooftop solar and Group Captive EPC order book stands at ₹ 2,900 crore

· 4.3 GW Cell & Module manufacturing facility in Tirunelveli, Tamil Nadu has commenced production in Q4FY24. The Company also received approval from DFC’s Board of Directors for $ 425 million in financing for the plant

· TPREL signed an MoU with the Government of Gujarat to develop 10 GW of renewable energy across multiple sites. The Company also entered into an MoU with the Government of Tamil Nadu with a proposed investment of ₹70,000 crore in the next few years

• Tata Power Solar Systems Ltd. (TPSSL) commissioned India’s largest solar and battery energy storage project in Chhattisgarh, comprising 100 MW solar and 120 MWh utility scale Battery Energy Storage System
• TP Saurya Ltd commissioned a 200 MW solar project at Bikaner, Rajasthan; Project to be integrated into the Central Transmission Utility Bus to ensure the distribution of clean energy across the region
• TPREL commissioned a pioneering 1040 kW Bifacial Solar System project at Chengmari which is Asia’s largest Tea Estate. This is the first-ever installation of on-ground bifacial modules in Eastern India
• TPREL secured a Letter of Award for the development of 1.3 GW Firm and Dispatchable Renewable Energy (FDRE) project from SJVN Limited
• TPREL Rooftop-Solar portfolio crossed the milestone of 2 GW, retaining the highest market share in the segment for the ninth year in a row
• TPSSL facilitated ₹ 475 crores of customer financing in Q4FY24 to boost solar adoption in India; Total customer financing stands at over ₹ 3500 crores through collaborations with more than 20 financing partners, including PSUs, Private Banks, and NBFCs
• TPSSL and Union Bank renewed their partnership to boost rooftop solar adoption among residential consumers

· TPRMG signed an MoU with C-DAC, Trivandrum, to develop and deploy microgrid technology

Transmission & Distribution supports business growth

· Tata Power acquired Bikaner-III Neemrana-II Transmission Limited to evacuate 7.7 GW of renewable energy from the Bikaner complex in Rajasthan for ₹ 1,500 crore

· Transmission portfolio stands at 6250+ Ckm

· The Company acquired its first ever Greenfield Intra State Transmission project under the TBCB process in Uttar Pradesh – Jalpura Khurja Power Transmission Limited, for ₹ 800 crore

· Reached a milestone of 10 lakh smart meter installations across its Discoms in Mumbai, Delhi and Odisha. It plans to reach 15 lakh smart meter installation marked by FY25 with a planned capex of ₹760 crore

· Company signed a contract to implement ₹1,744 crore smart metering project for Chhattisgarh State Power Distribution Company Limited (CSPDCL)

· FY24 saw the four Odisha Discoms reducing their AT&C losses (excl. past arrears) from 21.5% in FY23 to 18.8% in FY24; Overall cumulative reduction in AT&C losses stand at

11.3 %

Enabling E-Mobility Across India

• Tata Power EZ Charge has energized a total of ~5,500 public and captive EV charging points across 530 + cities, along with 86,000+ home chargers and 850+ bus charging points
• Pan-India EV Charging network achieved a milestone of powering 10 crore green kms
• Tata Power now has 1,000 green energy-powered EV charging points in Mumbai
• Tied up with IOCL to set-up over 500 charging points across India
• Signed PPA with BluSmart to decarbonize their EV mobility at scale by providing clean energy supply
• Signed MoUs with the Ayodhya Development Authority and Government of Assam to set-up EV charging infrastructure
• Partnered with the Airport Authority of India to deploy EV chargers in Kolkata & Ranchi
• Partnered with Le Roi Hotels and Resorts to power ‘Green Tourism’, installed EV chargers across 8 tourist locations
• 5000+ RFID cards enabling hassle free single tap EV charging facility

CSR and Environmental stewardship for a better tomorrow

· Tata Power becomes the first Integrated power company in India with approved Science based Target Initiatives (SBTi)

· Tata Power and Skill Council for Green Jobs joined hands to boost green energy skills in the country

· To promote biodiversity in the Western Ghats, Tata Power collaborated with the ICICI Foundation to launch ‘Project GhanVan’ – a visionary tree plantation programme

Employer of Choice

· Tata Power emerged as the India’s ‘Most Attractive Employer Brand’, according to Randstad India’s REBR 2023 report

· Recognized as ‘Best Employer 2023′ by Kincentric India for its commitment to employee excellence

· Recognized by Fortune India as “Employer of the Future” in 2023 for the second consecutive time

Awards & Recognition:

· Tata Power Mumbai Distribution honoured with the prestigious “Energy Company Award ” & “Employee Safety Award” at the Economic Times Middle East Energy Leadership Summit ’24 in Dubai

· Tata Power Mumbai Distribution awarded the prestigious IPPAI Power Award 2024 which recognizes innovative “Energy Conservation – Demand Response Program” at the 24^th Regulatory and Policy Makers event

· 12^th Integrated Rating & Ranking of Power Distribution Utilities for period FY23 saw TP Central Odisha Discom Ltd (TPCODL), TP Northern Odisha Distribution Ltd (TPNODL) and TP Western Odisha Distribution Ltd (TPWODL) score A+ rating and Tata Power-Delhi Distribution Ltd score ‘A’ rating across the Discoms nationally

· Tata Power-DDL in collaboration with the Central Electricity Authority (CEA) celebrated

4^th edition of Linemen Diwas on 4th March 2024, to honor the frontline workers of power sector

TVS Motor records highest ever Revenue and Profit in FY 2023-24 Achieves over 4Mn units in sales,Revenue of Rs. 31,776 Crs and PBT of Rs. 2,781 Crs;

EV sales registered 100% growth at 1.94 lakh units

· EBITDA for Q4 2023-24 improved to 11.3%

Chandigarh/Chennai, May 08, 2024: TVS Motor Company’s revenue from operations in the quarter ended March 2024 grew by 24% at Rs. 8,169 Crores against Rs. 6,605 Crores in the quarter ended March 2023.

Operating EBITDA for the quarter under review is higher at 11.3% as against 10.3% during fourth quarter of last year. The Company posted highest ever Operating EBITDA of Rs. 926 Crores for the fourth quarter with a growth of 36% as against Rs. 680 Crores in fourth quarter of 2022-23. The Company’s Profit Before Tax (PBT) grew by 23% at Rs. 672 Crores in the fourth quarter of 2023-24 as against Rs. 547 Crores in the fourth quarter of 2022-23, PBT for the current quarter includes fair valuation loss of Rs.47 crores as against gain of Rs.62 crores during the fourth quarter of last year.

FULL YEAR PERFORMANCE:

During the financial year 2023-24, revenue from operations grew by 20% at Rs. 31,776 Crores as against Rs. 26,378 Crores recorded in 2022-23.

Operating EBITDA for the year improved by 100bps at 11.1% over the last year. The PBT for year ended March 2024 grew by 39% at Rs. 2,781 Crores as compared to Rs. 2,003 Crores reported during previous year. PAT for the year ended March 2024 is at Rs. 2,083 Crores as compared to Rs. 1,491 Crores reported during the year ended March 2023.

SALES Q4 2023-24:

The overall two-wheeler and three-wheeler sales including exports grew by 22% at 10.63 Lakh units in the quarter ended March 2024 as against 8.68 Lakh units registered in the quarter ended March 2023. Motorcycle sales for the quarter ended March 2024 grew by 32% registering 5.11 Lakh units as against 3.89 Lakh units in quarter March 2023. Scooter sales for the quarter ended March 2024 grew by 16% registering 3.96 Lakh units as against 3.40 Lakh units in the fourth quarter of 2022-2023. Electric vehicles grew by 15% registering sales of 0.49 Lakh units in the quarter ended March 2024 as against 0.43 Lakh units during the quarter ended March 2023. Three-wheeler sales for the quarter under review grew by 4% registering 0.30 Lakh units as against 0.29 Lakh units in the fourth quarter of 2022-23.

SALES FY 2023-24:

The Company achieved record sales of over 4 Million units in a financial year. During the year ended March 2024, the overall two and and three-wheeler sales of TVS Motor Company, grew by 14% at 41.91 Lakh units as against 36.82 Lakh units in the year 2022-23. Motorcycles sales during the fiscal year grew by 15% recording 19.90 Lakh units as against 17.33 Lakh unit in the year ended March 2023. Scooter sales during the fiscal year grew by 18% at 15.70 Lakh units as against 13.34 Lakh units in the year ended March 2023.Electric vehicles grew by 101% registering sales of 1.94 Lakh units in the year 2023-24 as against 0.97 Lakh units during 2022-23. Cumulatively TVS Motor has more than three lakh delighted EV customers. Three-wheeler sales for the fiscal year is at 1.46 Lakh units in the year ended March 2024 as against 1.69 Lakh units in the year ended March 2023.

Beyond the Runway: Godrej L ‘Affaire and The Label Life Stage a Theatrical Fashion Showcase

Sakht Khabar Correspondent,

Chandigarh, May 05 , 2024 – The sixth edition of Godrej L’Affaire, a curated experiential luxury lifestyle platform by Godrej Industries Limited and Associate Companies, took a unique approach to fashion presentation. Collaborating with The Label Life to create an unforgettable experience, it wasn’t your standard runway show but a theatrical extravaganza that showcased The Label Life’s AM to PM collection in a way that resonated with everyone.

This immersive experience resonated with everyone, showcasing the collection’s versatility through a captivating performance. Models transitioned from casual attire for the morning hustle to party-ready looks for the night, all while seamlessly weaving in outdoor and picnic wear – a testament to the collection’s diverse range and ability to empower every style choice.

Godrej Professional stylists ensured the models looked their absolute best, their hairstyles complementing the overall look and the thematic presentations that unfolded throughout the show.

Diversity was a major highlight of the show. The Label Life took a strong stance on inclusivity, featuring models with Down syndrome, plus-size models, and models from various ethnicities.“Fashion shouldn’t be about exclusion,” says Malaika Arora, Style Editor at The Label Life. “The Label Life is all about women catering to women. We believe it’s a form of self-expression, and that’s for everyone. Our size-inclusive collections empower women of all backgrounds to embrace their unique beauty. When a woman feels confident in her clothes, she feels confident in herself, ready to take on the world.”

Adding to the electric atmosphere was a live music performance by Vasundhara on stage. Her music perfectly complemented the energy of the show, making it a truly immersive experience for everyone present.

One of the things that makes The Label Life collection so special is its affordability. The brand proves that high-fashion doesn’t have to come with a hefty price tag.

Applauding the fashion show, Tanya Dubash, Executive Director & Chief Brand Officer, Godrej Industries Limited and Associate Companies stated“This collaboration between Godrej L’Affaire and The Label Life exemplifies our shared commitment to innovation and inclusivity. By showcasing The Label Life’s versatile collection in such a creative and engaging way, we’re not only celebrating fashion, but also empowering women to embrace their individuality and feel confident in every aspect of their lives.”

This unique collaboration between Godrej L’Affaire and The Label Life was a resounding success. It championed diversity, showcased a versatile collection in a creative way, and all while keeping fashion accessible.