Emami unveils new logo
"Our rebranding marks a pivotal step in Emami's evolution," said Harsha Vardhan Agarwal, vice-chairman & managing director, Emami Limited.
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Time of India
38 minutes ago
- Time of India
Andhra Pradesh CM Naidu turns heat on defaulters in green energy space
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: Chief minister N Chandrababu Naidu-led Andhra Pradesh government has launched a crackdown on renewable energy developers sitting on land parcels without initiating work and has ordered scrutiny of projects worth ₹4 lakh the first action, the government has cancelled a 328 MW wind power project allocated to Sreeja Infrastructure, a subsidiary of the Italian renewable energy major Enel Green, which was recently acquired by Gujarat-based Waaree Energies . The project was sanctioned in 2018 when Naidu was in power. However, the Capacity Sanction Agreement, required for formal commencement of work, was signed in 2022 under the previous Jagan Mohan Reddy-led YSRCP company had to complete the project in 24 months by December 2024. The government has now cancelled the project and ordered forfeiture of performance bank guarantee worth ₹6.5 crore. Over the last two weeks, two hydro projects have also been cancelled for delayed Naidu-led administration has now sought updated implementation status and timelines from all renewable projects allotted in the state, covering over 60 GW of capacity. This forms part of a broader audit aimed at unlocking stalled green energy potential in Andhra Pradesh. Sources said projects with an investment worth ₹4 lakh crore are under scrutiny. These include big players like Axis Energy, Suzlon Energy , Indosol and Ecoren. According to sources, close to 36 project sites have been allotted to three investors with no progress on ground. Indosol has been allotted 1.52 lakh acres of land to develop 3000 MW project, Ecoren has been allotted 4.35 lakh acres to develop 3500 MW capacity at six locations and Axis has 15.13 lakh acres of land to develop 12,000 MW capacity at different locations. Sources indicated that the government is serious about taking action against those sitting on solar and wind resources and action against Sreeja Infrastructure is to signal that failure to commence work immediately would result in cancellation and penalties. "This is not just about enforcing deadlines. This is about reclaiming credibility, land, and clean energy targets," said an official adding, "Valuable wind zones are being locked up by companies that are not acting. In a resource-constrained geography like ours, we can't afford such strategic delays."Unlike government land leases, Sreeja's project is slated to be built on private land, but the government had already earmarked exclusive wind coordinates for the project, effectively blocking any other renewable developer from using the site. With limited high-velocity wind zones in Andhra Pradesh, these land-coordinate allocations are prized Naidu, who returned to power with a strong development agenda, the message is clear - land is not to be hoarded, and renewable energy, once allotted, must translate into megawatts on the grid. The government has set a target of 160 GW of renewable energy capacity by 2030.
Time of India
an hour ago
- Time of India
Nepal, China steel may face duty evasion probe
The Directorate of Revenue Intelligence may investigate steel imports from Nepal and China. This action aims to shield the Indian steel industry from substandard products. Nepal has become a major steel exporter to India. Concerns arise about Chinese steel being routed through Nepal. Some Chinese companies are allegedly falsifying quality compliance documents. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Directorate of Revenue Intelligence could initiate a probe into steel imports from Nepal and China, a move aimed at protecting the domestic industry from cheap, substandard imports, said people familiar with the comes after Nepal emerged as one of the top three steel exporters to India despite the absence of significant manufacturing facilities, they said."In some instances, a Nepal-based company was exporting steel many times over its nameplate capacity," an official told ET on condition of triggered apprehensions of Chinese steel being routed through Nepal, as alleged by the Indian has unilateral duty-free access to the Indian market, allowing its exporters to send steel products to India without paying any duty. On the contrary, direct exports from China attract at least 12% safeguard share in India's finished steel imports during the first three months of this financial year averaged 15.93%, making the neighbouring country the third largest steel exporter to India during this another instance, China's Shangyang Steel wrote to India's Directorate General of Foreign Trade alleging that other Chinese companies were falsifying documents affirming quality compliance. Shangyang Steel holds a certificate issued by the Bureau of Indian Standards (BIS)."The company alleged that other Chinese companies were misrepresenting the BIS certificate issued to Shangyang Steel and lying while exporting to India," the official month, the steel ministry issued a clarification saying that not only are finished and semi-finished steel imports required to adhere to quality control orders (QCOs) but also the raw material used as input needs to comply with the quality also found that some Indian importers with a BIS certificate were importing substandard steel products from China or Nepal and doing just cosmetic value addition to them."The QCO norms require importers not only to comply with the coating part for which it has certification, but also to ensure that the base material also sticks to quality norms," the official said.A BIS certificate is enforced through QCO, which the government order mainly affects the traders who act as middlemen in importing steel without adding any value to the steel. "MSMEs (micro, small and medium enterprises) are not affected by this order; it hurts the middle parties, and they are the ones who are creating a furore over this," the official added.
Economic Times
2 hours ago
- Economic Times
Dabur, Nestle, Emami shelve brands, prune staff & stall launches amid slow demand & D2C pressure
Packaged goods companies are either discontinuing non-performing brands, shelving expansion plans in slow-moving categories, or pruning manpower costs, amid challenging demand conditions, and in expectation of demand revival in core businesses over the next two quarters. Nestle India has phased out select variants of Maggi noodles such as Maggi chatpata and teekha, while homegrown Dabur India said last week it has exited diaper, tea, and health drink businesses as part of a portfolio rationalisation and to sharpen focus on core categories. Facing "mixed reaction" to its Sting Gold energy drink, PepsiCo's bottling partner Varun Beverages Ltd (VBL) said it is evaluating "traction among consumers"."We are rationalising manpower costs. Sales of large packs declined due to unseasonal rains, since there were less outdoor events and functions," said Varun Jaipuria, executive vice-chairman, VBL, on a quarterly earnings call last week. "We also couldn't add temporary shops particularly in rural markets in summer, which we do otherwise."Almost all makers of summer-centric products such as soft drinks, cold juices, and ice-creams, who tend to set up temporary small shops, especially in small towns and rural markets to cater to seasonal demand, had to abort their plans this year following unseasonal and consistent rains since March. The weather office predicted that India is likely to receive above-normal rainfall in the second half of the monsoon season during August and September. The first half saw above-normal rainfall, with some regions like Himachal Pradesh reporting flash floods and landslides. Distributors noted that previously companies would test market products for at least 12-15 months before discontinuing them if sales lag expectations, which has since narrowed to only a few months."At least two dozen low-performing sub-brands are going off shelves across tea, Ayurvedic creams and oral care, toothpaste, and soap, owned by large-listed companies, something that's unprecedented within a short phase. These companies have told us that after the present stocks are exhausted, there will be no future replenishment," said an executive at a prominent distributor of FMCG products in New Delhi. "Taking up shelf space, transportation of such packs all add to costs," he said, asking not to be named, citing confidentiality clauses. Emami's hair oil business led by the Kesh King brand declined 5% year-on-year, particularly impacted by direct-to-consumer (D2C) or online-only brands, while male grooming fell 9% year-on-year. The company is currently revamping these businesses with "strategic transformations". Emami, which also makes BoroPlus cream and Dermicool talc, said it will relaunch the Kesh King hair oil franchise in the current quarter to improve brand relevance and future growth. "The Man Company is undergoing a brand revamp with a sharper positioning," Emami said in the management commentary of its June quarter highlighted the emergence of D2C competitors "as a significant challenge, particularly in the male grooming category."Most listed FMCG companies have provided guidance of high single-digit growth for FY26, on the back of sequential demand recovery, aided by a better-than-expected monsoon, easing food inflation, rural momentum and green shoots of urban revival. Research firm Numerator, formerly Kantar, said in a report last week that demand for groceries, and household and personal care, slowed to 3.9% by volume year-on-year in the June quarter, impacted by unseasonal rains.
