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Time of India
5 hours ago
- Business
- Time of India
Entrepreneurial spirit lights up Surat at ET Make in India SME Summit
Resilience, entrepreneurial drive, and innovation stood out in good measure at the second ET Make in India SME Regional Summit of this year in Surat . The city's potential as a hub offering the next wave of opportunities in diamonds, textiles , and chemicals was highlighted in the discussions with a cross-section of industry stakeholders in the city. The ET Make in India SME Regional Summit is a series of 20 nationwide on-ground events to bring together micro, small, and medium-sized enterprises ( MSMEs ), policymakers, enablers and key industry professionals. The summit series aims to unravel emerging opportunities, address critical challenges, and promote meaningful knowledge-sharing and networking to unlock growth for the MSME sector. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science Project Management MBA Others Data Science CXO others Design Thinking Leadership Healthcare Operations Management Artificial Intelligence Management Finance Technology Data Analytics Digital Marketing Degree Public Policy Product Management Skills you'll gain: Data Analysis & Interpretation Programming Proficiency Problem-Solving Skills Machine Learning & Artificial Intelligence Duration: 24 Months Vellore Institute of Technology VIT MSc in Data Science Starts on Aug 14, 2024 Get Details The event, held on July 18, began with an insightful keynote address by J.B. Dave, General Manager, District Industries Centre, who spoke on how MSMEs can be empowered. "We need to do more for MSMEs in Surat despite being the second-largest i n terms of MSME registrations in the country," he said while discussing the strategy for a vibrant and resilient Surat. "For becoming an export-centric market, we need to focus on quality," he emphasised. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo Also Read: ET Make in India SME Regional Summit to debut in Nagpur, the 'Orange City', on July 24 This was followed by an interesting fireside chat with Nagaraj Garla , Executive Director, IDBI Bank , on the topic 'Catalysing Make in India Growth: IDBI Bank's Strategic Imperatives for Empowering MSMEs.' Live Events Garla spoke about several issues pertaining to the financial constraints of the sector. "Effective cash flow management remains the single most important factor distinguishing a successful MSME from a failed one," he said. ET Online Nagaraj Garla, Executive Director, IDBI Bank spoke about several issues pertaining to the financial constraints of the sector. He emphasised the various initiatives implemented by the bank to facilitate cash flow for MSMEs, underscoring the significant role technology has played in achieving this goal. "In March, we introduced an AI-ML-based credit system that decides if the money has to be disbursed or not in 15-20 minutes." Following that, Raj Tiwari, Senior Sales Manager, Canon India , delivered a presentation titled 'Making Business Simple with Canon.' Tiwari offered numerous insights on new technologies that showcase added layers of security in printing. This, he stated, could be of immense help to the entrepreneurs looking to create a differentiation for their businesses. Thereafter, local industry leaders and association heads got together to participate in an engaging session of the day—a panel discussion on how Surat's MSMEs can lead India's next wave of industrial innovation. Reflecting on the tariff developments, Ashish Gujarati, Managing Director, Aditya Textile Solutions, said that they are expecting 5-10% tariffs on the textile sector. "Most of the challenges come from QCOs and raw material availability," he stated. ET Online Local industry leaders and association heads got together to participate in an engaging session of the day—a panel discussion on how MSMEs in Surat can lead India's next wave of industrial innovation. Highlighting the advantages offered by Surat as a textile hub, Gujarati said that Surat's main advantage is that the entire textile ecosystem is within a radius of 45 km. Moving on to Surat's legacy as a diamond hub, Jayanti Savaliya, Regional Chairman of GJEPC India, said that Surat has unique strengths with which it can mould itself as per the market situation. "Surat has this distinct advantage: if there are threats to its diamond polishing and cutting business, then it can capitalise on its lab-grown diamond segment," he said while talking about the emerging opportunity in this new segment. Answering a question regarding the prominence of gemstone manufacturing in China, Savaliya noted that the gemstone industry holds a lot of potential in India, especially in Surat. "We still have miles to go," he said, candid in his admission. The panel discussion then moved on to the importance of schemes for the MSME sector. Bikash Chandra Naik, Zonal Head, National Small Industries Corporation Ltd (NSIC), said that they offer a number of schemes to handhold small businesses. "Micro and small businesses need a lot of handholding; they don't go to banks directly. Therefore, we have many collaborations with banks, and we help these businesses to get loans," he said. Naik also spoke about how people in rural areas lack the required skills, and NSIC helps in getting more skilled professionals into the industry. "NSIC has projects at various levels and also programmes that help them train in different skills," he added. Affirming his views, Prashant Patel, former President of FISME and Director of RK Synthesis Ltd, highlighted some big challenges faced by MSMEs in Surat. These challenges include land availability due to high land costs, a shortage of skilled manpower, the high cost of R&D equipment, and inadequate common infrastructure. Patel also spoke of the importance of R&D investment for enterprises to carve a niche for themselves in the long run. The panel was followed by a fireside chat with Nikhil Garg, Founder President of the Agarwal Business Network. Garg stated that Surat is known for adapting fast to changes. "The growth of the knitting industry here is remarkable. In India, if there is any other city that can challenge China, it's Surat," he said, adding that the power of communities can help to bring the MSME ecosystem together and go forward in their journey as small businesses. ET Online Nikhil Garg, Founder President of the Agarwal Business Network stated that Surat is known for adapting fast to changes. The final session of the evening was a presentation by C.S. Arya, General Manager, IDBI Bank, and Sherine Mendez, General Manager, IDBI Bank, highlighting the organisation's initiatives, outreach, and tools that empower MSMEs. This concluded the second summit in the ET SME summit series of this year in Surat, showcasing how MSMEs can leverage their strengths and counter the challenges in their path in an effective manner. The summit served as a key platform for bringing industry experts together and offering networking opportunities to a host of small businesses in the city. The event sponsors were IDBI Bank as Banking & Lending Partner and Canon as Tech Enabler. The series now heads to Nagpur on 24 July 2025 for another round of conversations, discussions and learning in the ET SME Make In India pan India series.
Mint
7 hours ago
- Business
- Mint
IDBI Bank share price inches higher after Q1 results. Should you buy?
IDBI Bank share price inched higher on Tuesday after the lender reported its Q1 results, with steady profit growth and improvement in asset quality. IDBI Bank shares gained as much as 1.07% to ₹ 98.30 apiece on the BSE. IDBI Bank reported a standalone net profit of ₹ 2,007 crore for the quarter ended June of FY26, registering a growth of 17% from ₹ 1,719 crore in the year-ago quarter. The banks' operating profit in Q1FY26 increased 13% to ₹ 2,354 crore from ₹ 2,075.5 crore, year-on-year (YoY). Net interest income (NII) during the June quarter fell to ₹ 3,166 crore from ₹ 3,233 crore, YoY, while net interest margin (NIM) dropped 50 bps to 3.68% from 4.18% YoY. Asset quality of the bank showed robust improvement as gross non-performing assets (GNPA) ratio improved to 2.93% from 3.87%, while net NPAs ratio was at 0.21% versus 0.23%, YoY. The Provision Coverage Ratio remained high at 99.31%, providing a firm cushion against potential stress. Total business expanded by 8% YoY to ₹ 5.08 lakh crore, with deposits growing 7% and net advances rising 9%. Seema Srivastava, Senior Research Analyst at SMC Global Securities said that IDBI Bank delivered a stable financial performance in Q1 FY26, reflecting steady earnings growth and continued improvement in asset quality. She noted that the retail loans formed 70% of the total advances, indicating a conservative and granular lending strategy. The CASA ratio moderated to 44.65% from 48.57%, reflecting a shift toward higher-cost term deposits in a tighter liquidity environment. 'The bank's capital adequacy remained among the highest in the sector, with CRAR at 25.39% and Tier 1 capital at 23.71%, positioning it well for future growth. Return on Assets (ROA) improved to 2.01%, while Return on Equity (ROE) stood at 17.91%, reflecting improved operational efficiency,' Srivastava said. IDBI Bank continues to reinforce its transformation journey with a strong balance sheet and improved profitability, she added. IDBI Bank share price has gained 7% in one month and 13% in three months. The stock has rallied 22% in six months and risen 26% on a year-to-date (YTD) basis. IDBI Bank share price has jumped 69% in two years and has delivered strong returns of 150% over the past five years. At 10:20 AM, IDBI Bank share price was trading 0.15% lower at ₹ 97.10 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
21 hours ago
- Business
- Economic Times
Difficult to project FY26 disinvestment mop-up at the moment: MoS for finance
ANI Minister of state for finance Pankaj Chaudhary The government on Monday said it is 'difficult' to anticipate the precise amount of its disinvestment proceeds this fiscal, as the process hinges on a number of factors, such as administrative feasibility, market conditions, economic outlook and investor interest. In a written reply in the Lok Sabha, minister of state for finance Pankaj Chaudhary said the FY26 budget estimate of Rs 47,000 crore under miscellaneous capital receipts indicates total mop-up from the government's management of equity investments and public assets through various mechanisms, and not just disinvestment. Chaudhary also said the strategic sale process of IDBI Bank with management control transfer is in progress. For other state-run firms and banks, disinvestment through minority stake sale is carried out via methods approved by capital markets regulator Sebi from time to methods are based on prevailing market conditions 'in order to unlock the value, promote public ownership and meet the minimum public shareholding to ensure higher degree of accountability'.'Profit or loss no criterion in divestment' The minister also said the profitability or loss of a state-run company is 'not among the relevant criteria' for its privatization or strategic said, 'The policy on strategic disinvestment/privatization is based on the economic principle that government should minimize presence in sectors, where competitive private sector has come of age and economic potential of such entities may be better discovered in the hands of strategic investor due to various factors such as infusion of capital, technological upgrade, efficient management practices, etc.'
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Business Standard
a day ago
- Business
- Business Standard
IDBI Bank posts 17% net profit growth in Q1 FY26, margins under pressure
Private sector lender IDBI Bank reported a 17 per cent year-on-year (YoY) growth in its net profit, reaching ₹2,007 crore for the first quarter ended June 2025 (Q1 FY26), driven by a sharp rise in non-interest income, including treasury earnings, recoveries, and commissions. The bank had posted a net profit of ₹1,719 crore in the same quarter of FY25 (Q1 FY25). Net interest income (NII) declined by two per cent YoY to ₹3,166 crore in Q1 FY26, compared to ₹3,233 crore in Q1 FY25, the bank said in a statement. Its net interest margin (NIM) also declined by 50 basis points to 3.68 per cent in Q1 FY26, compared to 4.18 per cent in Q1 FY25. The bank's stock closed 1.37 per cent lower at ₹97.25 per share on the BSE. Advances expanded by nine per cent YoY to ₹2.11 trillion at the end of Q1 FY26. The share of retail and corporate in the loan book stood at 70 per cent and 30 per cent, respectively, at the end of June 2025. The credit-to-deposit ratio stood at 71.38 per cent at the end of June 2025, up from 69.91 per cent in June 2024. Total deposits increased by seven per cent YoY to ₹2.96 trillion at the end of June 2025. The share of low-cost deposits — current account and savings accounts (CASA) — declined to 44.65 per cent at the end of June 2025, from 48.57 per cent a year ago. The lender, which is a candidate for divestment by the Government of India, saw further improvement in its asset quality profile during the reporting quarter. Its gross non-performing assets (NPAs) declined to 2.93 per cent in June 2025, from 3.87 per cent in June 2024. Net NPAs also declined to 0.22 per cent in June 2025, from 0.23 per cent a year ago. The provision coverage ratio (PCR), including written-off accounts, stood at 99.31 per cent in June 2025, compared to 99.34 per cent in June 2024. The Capital Adequacy Ratio improved to 25.39 per cent with a Common Equity Tier I (CET1) of 23.71 per cent in June 2025, up from 22.42 per cent with a CET1 of 20.26 per cent in June 2024.
News18
a day ago
- Business
- News18
IDBI Bank Q1 profit up 17 pc to Rs 2,007 cr
Agency: PTI New Delhi, Jul 21 (PTI) IDBI Bank on Monday reported a 17 per cent rise in net profit at Rs 2,007 crore for the first quarter of the current financial year. The LIC controlled-bank had earned a net profit of Rs 1,719 crore in the same quarter of the previous fiscal year. Total income rose to Rs 8,458 crore during the June quarter of 2025-26, from Rs 7,471 crore a year ago, IDBI Bank said in a regulatory filing. Interest earned by the bank improved to Rs 7,021 crore, as compared to Rs 6,666 crore in the June quarter FY25. However, Net Interest Income (NII) declined to Rs 3,166 crore in the quarter, as against Rs 3,233 crore in Q1 of the previous year. During the period, operating profit of the bank increased to Rs 2,354 crore, from Rs 2,076 crore a year ago. The bank's asset quality improved as gross non-performing assets (NPAs) declined to 2.93 per cent of gross advances at the end of the June quarter, from 3.87 per cent a year ago. Similarly, net NPAs, or bad loans, declined to 0.21 per cent from 0.23 per cent in the year-ago period. Net advances rose to Rs 2,11,907 crore as on June 30, 2025 as against Rs 1,94,026 crore as on June 30, 2024 registering a growth of 9 per cent. Provision Coverage Ratio (PCR) remained flat at 99.31 per cent at the end of June 30, 2025. At the same time, Return on Assets (ROA) improved to 2.01 per cent in June 2025 from 1.83 per cent a year ago. Capital adequacy ratio of the bank rose to 25.39 per cent, from 22.42 per cent in the same quarter of FY25. PTI DP DRR view comments First Published: July 21, 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.
