Latest news with #BThiagarajan
Time of India
a day ago
- Business
- Time of India
Tech and policy push enables faster adoption of ESG mission
Tech and policy push enables faster adoption of ESG mission India is turning environmental, social, and governance (ESG) challenges into opportunities, using technology, policy, and innovation to address energy consumption, sustainable construction, and supply-chain vulnerabilities. At a panel on 'Tech for Good: Using Innovation to Solve Real-World Challenges,' industry leaders described how constraints are driving new solutions. B Thiagarajan, MD, Blue Star, said: 'If you bought an AC in 2000 and if you are buying one now, it now consumes only 20 percent energy. Reduction of 80 percent has been achieved.' This, he said, has made energy bills affordable and helped sustain demand. India's strict emission regulations framework has reshaped the power generation industry. 'While only a small fraction of generators in US or UK meet the highest standards, in India, 100 percent of gensets have gone to that kind of emissions,' said Srinivasa Raghavan, executive director at Cummins. Geopolitical tensions and dependence on imported rare earth materials have encouraged domestic innovation and efforts to build more resilient supply networks. India is also progressing in electric vehicle design, said Abanti Sankaranarayanan, EVP at Mahindra Group. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is it legal? How to get Internet without paying a subscription? Techno Mag Learn More Undo Tech is also enabling scale and precision. 'Technology plays this role where we can either go deep to the micro level or we can scale up,' said Pornima Dore of Dorian Scale. Nidhi Bhasin of Digital Green, added, 'We have used AI to ensure accurate contextual advisory reaches the smallholder farmer,' helping adopt climate-resilient practices. Atul Satija, Founder& CEO, The/Nudge Institute said: 'We never had real last-mile access till now. Now it is physical connectivity to almost the last mile. We have massively scaled our road infrastructure and have digital connectivity. This is one of the largest social fabrics in the world.' CSR funds need better sectoral distribution: Kant It is imperative for companies to define clear outcomes, collaborate with civil society organisations and move from a 'prescription' to 'purpose-led' approach to realise CSR's full potential, said Amitabh Kant , who served in top government positions such as CEO of Niti Aayog and G20 Sherpa, in his keynote address on Day 2 of the summit. It needs to drive deeper, systemic change through collaborations with other corporates, govt bodies and non-profit organisations, he added. More CSR investment needs better geographical and sectoral distribution. More focus is needed on India's Eastern region and for improving nutritional standards. Globally, with emergence of blended finance, a lot of CSR funding will be getting linked to govt funding. Good multilateral funding and blended finance will offer a powerful solution.
Time of India
5 days ago
- Business
- Time of India
ACs at below market price or at big discount: Government planning scheme to replace your old ACs
The Indian government is working on a plan to encourage households to replace air conditioners that are over 10 years old with new, energy-efficient five-star models, reports Economic Times. Tired of too many ads? go ad free now The initiative aims to reduce electricity consumption by phasing out older, less efficient appliances. As per the report, power minister Manohar Lal met leaders of large AC manufacturers including Blue Star managing director B Thiagarajan, Daikin India MD KJ Jawa, and Voltas MD-designate Mukundan Menon, to discuss the matter last week. The ministry has formed an internal committee to deliberate and finalise the norms, the report added. Consumers may get incentives to scrap old ACs Citing unnamed sources, the report says that the ministry of power is evaluating a proposal that will allow customers to scrap old ACs with authorised e-waste partners appointed by manufacturers or the government. In return, they will get a discount on new units purchased through their electricity distributor (discom). These lower prices, the report adds, will be achieved through bulk procurement and competitive bidding, using a model similar to the Ujala scheme, under which nearly 369 million LED bulbs were distributed through discoms over the past decade. Another plan being explored is for manufacturers to offer high scrappage value for old ACs. The government plans to compensate them by either incentives or energy credit from discoms that would be adjusted against electricity bills. In this case, consumers could continue buying ACs from retail outlets at regular prices, but with added financial benefits from scrapping old units. Confirming the meeting, Thiagarajan told the publication, 'There are about 50 million 10-years-or-older AC units in the country. Tired of too many ads? go ad free now Consumers typically shift their old ACs to another room or sell to a shop in exchange, which are then reused. Hence, the best way is to scrap them and consumers [should] buy the latest and most energy efficient 5-star ACs.' BEE to revise energy rating norms more frequently According to the report, the Bureau of Energy Efficiency (BEE) is also planning to revise the energy rating norms for air conditioners every two years, down from the current 3–4-year cycle. The next changes are expected in 2026 and 2028, following the last revision in July 2022. However, not all companies support frequent rating updates. An industry executive, who did not wish to be named, told ET, 'The industry has to invest around ₹400 crore for each rating change, which becomes difficult to recover if there are frequent changes.' He added that energy rating revisions should only happen if there's a significant technology breakthrough.
Time of India
5 days ago
- Business
- Time of India
Out with the old, in with the cool new AC: Govt working on scheme to replace units that are over 10 yrs old with fresh
The power ministry is devising a plan to encourage consumers to replace old, energy-inefficient air conditioners with new five-star rated models by offering them at discounted prices. This initiative involves scrapping old ACs through authorized e-waste partners for discounts on new purchases via electricity distributors. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Kolkata: The power ministry is working on a plan to push customers to replace air-conditioners that are over 10 years old with new five-star energy efficiency rated ones by offering them at below-market prices, two people aware of the plans told of the proposals under evaluation allows customers to scrap old ACs with authorised e-waste partners appointed by manufacturers or the government, and receive a discount on new units purchased through their electricity distributor (discom).The lower price would be made possible through bulk procurement and competitive bidding, following a model similar to the Ujala scheme , under which 368.7 million LED bulbs have been distributed through discoms over the past decade, the people option being considered is to have manufacturers offer higher scrappage value for old ACs , and compensate them through either a government incentive or energy credit from discoms that would be adjusted against electricity bills. Consumers could then buy new ACs at market rates from retail power minister Manohar Lal last week met leaders of large AC manufacturers including Blue Star managing director B Thiagarajan, Daikin India MD KJ Jawa, and Voltas MD-designate Mukundan Menon, to discuss the matter, people cited above power ministry has formed an internal committee to deliberate and finalise the norms, they confirmed the meeting with the minister but did not share further said there are about 50 million 10-years-or-older AC units in the country."Consumers typically shift their old ACs to another room or sell to a shop in exchange, which are then reused," Thiagarajan told ET. "Hence, the best way is to scrap them and consumers buying the latest and most energy efficient 5-star ACs."Meanwhile, the Bureau of Energy Efficiency (BEE), which mandates energy norms for electrical appliances, is planning to revise energy efficiency norms of ACs every two years, down from 3-4 years at present, people cited above next rating tightening is planned in 2026 and another one in 2028. The last revision was undertaken in July 2022.A large section of the industry, however, is against such frequent rating changes as it involves incremental cost of research."The industry has to invest around '400 crore for each rating change, which becomes difficult to recover if there are frequent changes," an industry executive said on condition of rating change should be considered only if there is significant technology change and not every two years, the person said every rating change will improve the energy efficiency of the AC by around 10% while also pushing up prices by 5-7%.It's estimated the installed base of ACs will grow 3-4 times by 2030, which will increase energy consumption by 300-400%, he said."Frequent rating changes need inventory planning and supply chain management. What we need is a breakthrough technology in AC to make them really energy efficient like EVs in automobiles and LED in lighting," Thiagarajan said.
Time of India
19-06-2025
- Business
- Time of India
Erratic weather is hurting Indian firms in the biggest consumer market
India experienced extreme weather events on 88% of days in 2024 in one or more parts of the country, according to a database maintained by Centre for Science and Environment and Down To Earth. Indian companies, already facing a demand slump, are now grappling with unpredictable weather patterns. Unseasonal rains and cooler summers have impacted sales for major players in sectors like air conditioning and beverages, forcing production cuts and inventory adjustments. Businesses are increasingly turning to advanced weather forecasting to mitigate risks and adapt to the growing challenges posed by climate change. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Some of India's largest companies, already hit by a demand slump, are facing a new threat in wooing the country's 1.4 billion consumers: unpredictable weather.A cooler-than-usual summer this year — followed by the earliest onset of rain since 2009 — has hurt companies selling everything from talcum powder to air conditioners. Blue Star Ltd. , one of the largest AC sellers in the country, had to cut production by as much as 25% between April and June, as it saw fewer buyers. It also delayed imports of compressors, a key input, and extended credit to some dealerships saddled with unsold inventories. Rivals Havells Ltd. and Tata-owned Voltas Ltd. also flagged a sales slowdown.'It's like a wedding was to happen, but the wedding has now been canceled,' said B Thiagarajan, managing director at Blue Star, adding that it was a 'painful' time.A four-fold jump in frequency, unpredictability and intensity of extreme weather events in India over the past four decades has made planning and preparedness more demanding for companies. From Hindustan Unilever Ltd. to food delivery app Zomato-owner Eternal Ltd. to engineering giant Larsen & Tourbro Ltd., it's affecting everything from sales to labor and supply chain management in the world's biggest consumer situation as one of the most affected nations by climate change provides a glimpse of what's in store for other major economies as environmental change accelerates. As record-breaking temperatures, rains and other extreme weather occur worldwide, companies are likely to be left scrambling to predict and plan for the earnings calls over the last six months, top management and equity analysts discussed 'delayed summer' and 'delayed winter' the most in five years, according to transcripts analyzed by Bloomberg News.'This quarter is slightly challenging as far as the summer portfolio is concerned,' Mohan Goenka, vice chairman of Emami Ltd., whose products include talc powder, told investors on an earnings call last month. The company will try to make up for the setback through its other segments, he added. Varun Beverages Ltd. , which bottles Pepsi in India, had said in April that it was ramping up production for the summer, expecting higher demand. Instead, unseasonal rains likely hurt performance at the beverage maker, according to analysts at brokerage also flagged weaker demand at Dabur Ltd. , which sells fruit juices, and Tata Consumer Products Ltd. , which sells cold summer demand, 'once missed, is difficult to recover,' analysts at Nuvama, led by Abneesh Roy, said in a note to incidence of heat waves, for example, was among factors causing a shortage of labor at Larsen, even as it split shifts between early morning and late afternoon. Eternal, which operates Zomato and Blinkit, said it faces a seasonal shortage of delivery workers in the Unilever, which sells skincare brands including Ponds and Vaseline, said it saw muted performance in the December quarter partly due to a delayed experienced extreme weather events on 88% of days in 2024 in one or more parts of the country, according to a database maintained by Centre for Science and Environment and Down To Earth. Between 1993 and 2022, the South Asian nation lost about $180 billion to severe heat and rains, the Climate Risk Index 2025 report forecasting in India has been plagued by outdated technology and modeling systems that make it difficult to get accurate bridge this gap, the country launched a new weather model last month to improve its forecasting by doubling the level of detail previously possible. Intended to improve farming and flood management, the model could also help companies as they seek better and more granular data.'Businesses, while they were aware of the financial impact of weather, simply did not have enough reliable data that could be potentially put to use,' said Samuel John, co-founder and CEO of forecasting firm have changed in the half-decade since Covid, and weather forecasting has gone mainstream, John of the farm sector, companies from industries such as consumption, quick commerce, logistics, and construction are increasingly approaching Skymet Weather Services Pvt., its chief executive officer Yogesh Patil said. These newer clients, who seek structured, calendar-linked forecasting dashboards, now make up about half of the Reliance Industries Ltd. unit's has also set up over 750 of its own weather stations across 60 cities to collect detailed companies navigate the new normal of erratic weather, planning and diversification are Star's management is confident of recovering a large portion of the lost sales through the rest of the year, by working with more corporate clients where demand largely remains stable. But climate mitigation is becoming an important subject to Thiagarajan, who has worked in air conditioning for four decades.'Predictability is dropping year after year,' he said. 'You can only be prepared for the worst.'
Time of India
20-05-2025
- Business
- Time of India
Summer sales catch a cold, brands cut production
Companies are cutting production of summer consumer products such as air-conditioners, beverages and talcum powders by up to 25% to adjust inventory following tepid sales in April and the first fortnight of May. This marks an unexpected reversal of fortunes for these companies who were preparing for a robust summer after the India Meteorological Department's forecast of intense heatwaves. Temperatures in most parts of the country are still expected to rise sharply and there have also been instances of intermittent rains, while India Meteorological Department has now forecasted early arrival of monsoon this year. Company executives noted that production cuts are required due to large unsold stocks as most companies and retailers had bought excess stock by March following IMD's early forecast, and to prepare themselves after the 2024 experience, where they were caught unawares when heatwaves led to record demand. "We have cut production of ACs by about 20% to reduce the overall stock in the market," said Kamal Nandi, head of appliance business at Godrej Enterprises. He said the South, East and West reported 25-30% drop in sales in April and May compared to last year. "These markets account for 60% of overall AC sales and hence the 10% growth in North is not sufficient to compensate for the loss. Overall sales in April-May have declined by 10-15% over last year," he said. A senior executive at a leading franchise bottler of a multinational beverage company said production lines-which run in double shifts in May and June-have been staggered to a single shift across most regions in the South and East. "Beverage demand has been particularly impacted in out-of-home channels (kirana stores), since soft drinks remain a largely impulse purchase," the person said. To be sure, there was an early pick up of summer products this February and March due to a weak winter but sales during the peak June quarter is crucial for the companies. The three months through June contributes 40-50% of annual sales for summer-centric products. Last year's high growth of 40-60% of summer products due to an intense nationwide heatwave further impacted growth rates due to a huge base effect. An executive at an aerated soft drink maker said, "Each day of rain in the April-May-June quarter translates to some loss of sales for the category. This drastic change in weather has been least expected and we are looking at a subdued quarter." AC maker Blue Star managing director B Thiagarajan told analysts earlier this month that while the industry was expecting 20-25% growth this summer, in April, the industry sales declined by 15-20%. He said the inventory can be quickly corrected by adjusting production. "First problem was in March itself when material was lifted (by trade) in significant quantities, which resulted in more than four million units in the market. In my view, it was anywhere between 1.5 to 2 million more than what should have been there. Then there were sporadic rains across the country," Thiagarajan said. Companies making summer-centric daily-need products said they are curtailing inventories at retail stores and mapping offtake on a real-time basis to hedge risks of excess inventories. Emami , which makes Dermicool and Golden Beauty Talc, said in a management commentary late last week that for 1QFY26, summer was "slightly impacted by sudden rainfalls, and that Southern and Eastern regions were more impacted." The company called out the impact particularly on its talcum powder offtake in April. The absence of an intense heatwave in April and May in many states is in complete contrast to earlier expectations which had led summer-focused companies to accelerate stocking as well as advertising.
