Latest news with #MurugappaGroup
Business Upturn
2 days ago
- Business
- Business Upturn
Wendt India Q1 Results: Revenue rises 6.3% YoY to Rs 52.17 crore; Net profit drops 51% YoY
Wendt India Ltd reported its unaudited consolidated financial results for the quarter ended June 30, 2025 (Q1 FY26), showing modest growth in revenue but a sharp decline in profitability and operating margins compared to the same quarter last year. On a consolidated basis, the company's revenue stood at ₹52.17 crore, up 6.3% YoY, compared to ₹49.06 crore in Q1 FY25. However, net profit after tax came in at ₹3.78 crore, down 51% YoY from ₹7.68 crore in the corresponding period last year. The company's EBITDA for the quarter stood at ₹7.3 crore, compared to ₹10.5 crore a year ago, reflecting a decline of nearly 30% YoY. Meanwhile, EBITDA margin compressed to 13.95% in Q1 FY26 from 21.5% in Q1 FY25, indicating higher costs and lower operating efficiency during the period. Subsidiary Performance Wendt Grinding Technologies Ltd, Thailand: Revenue: ₹6.03 crore, up 16% YoY PAT: ₹47 lakh, up 24% YoY The Thailand subsidiary continued its strong growth momentum, contributing positively to the consolidated results. Wendt GmbH, Germany: Wendt GmbH, a wholly-owned subsidiary in Germany incorporated to handle sales and service support for grinding machines, was formally registered during the quarter. The unit reported a loss of ₹1.39 crore, largely on account of initial set-up expenses. Management Commentary The company attributed the revenue growth to higher sales of products and services and improved performance from its overseas subsidiaries. However, the decline in profitability and margins was driven by higher material and employee costs, depreciation, and the set-up expenses of the German subsidiary. About Wendt India and Murugappa Group Wendt India Ltd is part of the diversified Murugappa Group, a 124-year-old conglomerate with interests in abrasives, ceramics, engineering, financial services, bicycles, and more. The group has 9 listed entities and operates several globally recognized brands. Disclaimer: The above information is for informational purposes only and does not constitute investment advice. Stock market investments are subject to risks. Please consult a financial advisor before making any investment decisions. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
The Hindu
5 days ago
- Business
- The Hindu
A tale of two cities: Mumbai and Chennai
When Art Deco was introduced to the world in April 1925 at the Paris Exposition, it was in many ways a reaction to Art Nouveau, a style that was based on the premise of nature-abhorring straight lines and formal geometry. Art Deco brought geometric shapes into sharp focus once again and, interestingly, it did so with the same materials that Art Nouveau had espoused: iron, glass, concrete, and later aluminium, chromium, and mosaics. Worldwide, the arrival of the architecture and design style coincided with many technological advances. Machinery was playing a greater role in daily life, concrete was being used increasingly for construction, large ocean liners were in vogue, and flying was just beginning to come into its own. Art Deco would make use of all these. In America, where cinema was exploding, the new architectural form came to be closely associated with it. Studios, cinema theatres and even stars' houses came to be built in the Art Deco style. It was almost as though a new medium demanded a new architectural form. And it wasn't limited to just buildings; it extended to furniture, crockery, glassware, electric lights, even jewellery. It also influenced English typefaces. Banks lead the way In India, Art Deco arrived in Bombay in 1932. In many ways, it reflected the aspirations of Indians. At a time when British business houses dominated the economy, a few Indians dreamt of becoming entrepreneurs. And when it came to their offices, they chose Art Deco. The first was that of Syndicate Bank in Bombay. And soon Art Deco became the idiom of Indian-run banks, insurance companies and stockbroking firms — as though they were turning their backs on the colonial styles of Indo Saracenic and Bombay Gothic. Bombay was by then the financial capital of India. And its Art Deco icons were large edifices with extensive decorative motifs done in concrete. Even today, many of these survive in the Fort and surrounding areas, some maintained in splendid fashion. But it was undoubtedly the Marine Drive, with its curve dominated by Art Deco buildings, that gave the city its distinctive character. Mansions vs. flats Madras bungalows took to Art Deco but in Bombay, where space was always a constraint, it was flats that came to be in the new style. This is also why Madras lost much of its Art Deco, as pulling down a bungalow is far easier than getting tenants and owners to vacate a block of flats. Ironically, that led to Bombay preserving much of its Art Deco and making it the second largest agglomeration of that style in the world, after Miami. Madras was just a few years behind, its Art Deco beginning not with Dare House (1938), which houses the offices of the Murugappa Group, as is often believed, but with the Oriental Insurance Building on Armenian Street in 1936. To see the equivalent of Bombay's Marine Drive here, we need to visit NSC Bose Road. If the British business houses were just round the corner on First Line Beach, on NSC Bose Road came up Indian edifices in Art Deco: State Bank of Mysore, Bombay Mutual, and National Insurance, which together with Dare House present almost a uniform skyline. At right angles on the Esplanade are United India, Madras (now Chennai) House and the Tamil Isai Sangam. Deeper inside are other jewels such as Andhra and Prithvi Insurance buildings. The Art Deco design did away with the portico, a standard feature of Indo Saracenic design, the buildings opened onto the street, and also introduced plenty of windows, as opposed to the verandahs of earlier design. Cinema, the biggest ambassador But it was undoubtedly cinema that took Art Deco to the public. As Bombay and Madras were its capitals, the style came to flourish in theatres and studios as well. The first Art Deco cinema theatre in India is almost certainly Bombay's Regal, opening for business in 1933. It was designed by Charles Stevens, whose father F.W. Stevens had designed the Victoria (now Chhatrapati Shivaji) Terminus. In Madras, Casino, which opened in 1941, was perhaps the first in the new style, and its architect was a Parsi — one of the sons of the Irani owners. Parsi dominion Indian architects spearheaded Art Deco in Bombay and Madras. The establishment of the Indian Institute of Architects in Bombay in 1929 had much to do with the growth of this form. Almost all the proponents were Parsis — Mistry, Bhedwar, Divecha, and Dastur, to name a few — and some Maharashtrians such as Mhatre. Madras was introduced to Art Deco by a Maharashtrian, L.M. Chitale, whose legacy includes his eponymous firm, well into the third generation. The only difference: the Madras buildings were smaller and plainer. Perhaps it reflected the local psyche. Cinema remained faithful to the design long after it had faded elsewhere. In rural India, theatres continued to be built in the Art Deco style well into the 1960s, as it was felt that the movie-going populace associated it most closely with cinema. Worldwide, however, the style had faded by the late 1940s. World War II meant a huge disruption of shipping lines and a collapse of economy worldwide, and the Great Depression had just preceded it. When these ended, it was time for new designs reflective of socialist patterns of society. Sadly, not much of Art Deco survives in India. While the Raj edifices were considered heritage, Art Deco was not old enough to merit protection. It is in this context that Mumbai's success in getting UNESCO recognition for its Art Deco is significant. The writer and historian is based in Chennai.
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Business Standard
6 days ago
- Automotive
- Business Standard
India needs to develop a broader semiconductor ecosystem over time: Subbiah
Murugappa Group scion says India needs a China-style sectoral roadmap for growth, bets big on semiconductors and EVs premium Shine Jacob Chennai Listen to This Article Vellayan Subbiah, a fourth-generation Murugappa group scion and chairman of CG Power, executive vice-chairman of Tube Investments of India (TII), and chairman of Cholamandalam Investment and Finance Co, believes India should take a cue from China and identify key sectors that can drive manufacturing growth. In a video interview with Shine Jacob, he talks about the group's semiconductor foray, the role of electric vehicles (EVs) in the country's future, and the need for a push towards India being a product nation. Edited excerpts:
Business Upturn
15-07-2025
- Automotive
- Business Upturn
Montra and Green Drive Partner to Accelerate Clean Mobility in Logistics Sector
Montra Electric, a Murugappa Group brand, has partnered with Green Drive Mobility to deploy 50 EVIATOR electric small commercial vehicles (e-SCVs) across India over the next three months. The collaboration aims to accelerate clean, carbon-free logistics solutions across first-, mid-, and last-mile delivery. Combining smart tech, AI-led analytics, and sustainable performance, the alliance marks a significant push toward eco-friendly transportation in India's logistics sector. By Riddhima Jain Published on July 15, 2025, 15:19 IST In a significant step toward sustainable transportation, Montra Electric, the clean mobility arm of the Murugappa Group, has partnered with Green Drive Mobility to deploy 50 EVIATOR electric small commercial vehicles (e-SCVs) across India. The initiative aims to enhance fleet efficiency and support carbon-free mobility across first-mile, mid-mile, and last-mile delivery segments. Under the agreement, the deployment will take place over the next three months, with vehicles integrated into Green Drive Mobility's tech-driven fleet system, which includes real-time tracking, smart route planning, and AI-based performance analytics. Saju Nair, CEO of TIVOLT Electric Pvt. Ltd. (SCV division of Montra Electric), and Hari Krishna, Founder & CEO of Green Drive Mobility, formalized the partnership, emphasizing their joint commitment to a cleaner logistics ecosystem. The Montra EVIATOR, known for its high load capacity, advanced software-defined vehicle (SDV) capabilities, and energy efficiency, is expected to align seamlessly with Green Drive's mission of enabling sustainable logistics for ESG-focused enterprises. With this collaboration, both companies aim to contribute to India's green mobility mission and set a benchmark for commercial EV deployment in the logistics sector. Ahmedabad Plane Crash
India.com
30-06-2025
- Automotive
- India.com
Montra Super Cargo EV: India's Most Advanced Electric 3-Wheeler for Heavy Loads?
The Montra Super Cargo EV is set to redefine the electric three-wheeler segment in India. Developed by TI Clean Mobility (part of the Murugappa Group), this advanced electric cargo vehicle is engineered for heavy-duty applications while delivering zero-emission operations — making it an ideal choice for modern logistics and last-mile delivery needs. In our detailed review, we explore the Montra Super Cargo's impressive range, robust payload capacity, smart features, and competitive pricing. We also assess its real-world practicality for fleet operators, delivery partners, and businesses looking to transition to sustainable cargo solutions. Could this be the future of last-mile logistics in India? Dive into our comprehensive analysis to see how the Montra Super Cargo EV performs on Indian roads and whether it truly stands out as the next big leap in electric cargo mobility.
