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Thursday 14 September 2023

Shri Siddhartha Mohanty, Chairperson, LIC of India, presents Dividend cheque to Ms. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs

Shri Siddhartha Mohanty, Chairperson, LIC of India, presents Dividend cheque of Rs. 1831.09 Crore to Ms. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs, as the Government of India’s share of Dividend

Shri Siddhartha Mohanty, Chairperson, LIC of India, today presented the Dividend cheque of Rs. 1831.09 Crore to Ms. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs, as the Government of India’s share of Dividend , approved by the Shareholders in the Annual General Meeting held on 22.08.2023.

 

Dr. M P Tangirala, Additional Secretary, GOI, Ministry of Finance, Dept of Financial Services was present along with Officials from Life Insurance Corporation of India, Shri M Jagannath ,MD, Shri Tablesh Pandey, MD, Shri Sat Pal Bhanoo, MD, Shri R Doraiswamy, MD and Shri J.P.S.Bajaj ,ZM(I/C),Northern Zone.

 

LIC has completed 67 years since its incorporation and beginning with an initial capital of Rs.5 crore in 1956, LIC as at 31.03.2023 has an asset base of Rs.45,50,571.73 Crore with life fund of Rs 40,81,326.41 Crore. Despite two decades of opening up of the insurance sector, LIC continues to be the market leader in the Indian Life Insurance market.

Tuesday 12 September 2023

STARBUCKS BRINGS BACK GLOBAL SENSATION PSL TO INDIA, EXPLAINS WHY THE DRINK IS A LIFESTYLE AND MORE THAN A LATTE

Mumbai, 12th September 2023: Ringing in the season of pumpkin spice and everything nice, TATA Starbucks, the world-renowned coffee chain, has brought the iconic favourite, Pumpkin Spice Latte to India. This global sensation – a favourite for 20 years – is now gracing Starbucks India stores with its warm and aromatic presence, promising an unforgettable sip of the cozy, spice-infused spirit of fall.

The Pumpkin Spice Latte, affectionately known as PSL, isn't just a beverage; it's a conversation starter, a cult favourite, and a timeless fall tradition that has undeniably evolved into a cultural icon all on its own. PSL combines espresso, steamed milk, and a harmonious blend of autumnal spices, including cinnamon, nutmeg, and cloves, crowned with a swirl of whipped cream. But behind the steamy, spiced surface of this beverage lies a treasure trove of facts that will leave coffee enthusiasts and PSL lovers just a little more in love with their favourite drink!

Quick Facts
• Fact #1: PSL’s Unique Origins!
The Pumpkin Spice Latte was created by Peter Dukes in 2003. Starbucks was inspired by the success of the Peppermint Mocha the previous winter and wanted a hit for the fall season. Surveys showed chocolate and caramel flavours were popular, but pumpkin scored high for uniqueness. PSL was first introduced as a test in just 100 stores in Washington, D.C. and Vancouver, Canada.

• Fact #2: PSL Has Its Own Social Media Empire!
Brewed to perfection in the marketing world, PSL boasts its own Twitter account, @TheRealPSL, with millions of devoted followers. 

• Fact #3: Pumpkin Spice Officially in the Dictionary! 
Did you know that Merriam-Webster added "pumpkin spice" to the dictionary in 2022? It's a testament to the cultural phenomenon that PSL has become!

• Fact #4: The Mystery Behind the Nickname!
Ever wonder why it's called PSL? It's not just an abbreviation – PSL gets its nickname from the three-letter beverage code originally written on cups by baristas.

• Fact #5: PSL Crave Gripping Industries!
By the time the 2010s rolled around, it seemed like every industry wanted a slice of the pumpkin spice. From cosmetics to candies, craft beers to cleaning products, the pumpkin spice craze infiltrated the marketplace.

• Fact #6: A Star Favourite!
Taylor Swift, Katy Perry, Gigi Hadid, Kendall Jenner, Gordon Ramsey, Mindy Kaling, Blake Lively, Ryan Reynolds, Joe Jonas and more can’t get enough of this fall favourite. 

Talking about bringing the much-anticipated PSL to India, Sushant Dash, CEO, of Tata Starbucks, said, "We're thrilled to introduce the Pumpkin Spice Latte to India. This beverage is not just a drink; it's a global phenomenon, and we've felt the anticipation building among our customers here. The PSL has a fan following that's unreal, with celebrities, coffee lovers, and more eagerly awaiting its arrival. We're all set to spice things up in India's coffee culture and can't wait to witness the PSL mania unfold in the country!"
The arrival of the Pumpkin Spice Latte represents more than just a new addition to the Starbucks menu; it's a momentous occasion that brings a worldwide phenomenon to the Indian coffee landscape. PSL lovers can now indulge in the familiar flavours of fall, crafted with precision at their nearest Starbucks store or online via various delivery platforms.

Friday 7 July 2023

Ajmera Cityscapes and West Avenue Realty launch Atlantis as the Perfect Blend of Luxury and Modern Living


Ajmera Cityscapes and West Avenue Realty are thrilled to announce the launch of Atlantis, a spectacular real estate joint venture project. Atlantis is a magnificent 18-storeys luxury tower located at the prominent confluence of CD Road and 16th Road, opposite Camy Wafers in Khar (West).  
With much anticipation, Atlantis, the pinnacle of luxury real estate, was unveiled on Friday, July 7th, 2023, at 11 am, at a grand event held in its exquisite venue at the intersection of CD Road and 16th Road. The event was graced by the esteemed presence of MLA Shri Ashish Shelarji and MLA Shri Parag Shah Ji as chief guest, MLA Atul Bhatkhalkarji, MLA Ameet Satamji , MLA Yogesh Sagarji Honorary Guests, along with other prominent guests who set the tone for the momentous occasion. The grand launch was followed by a delicious lunch, adding to the festive ambience and making the event memorable. 
We were thrilled to have had Piyush Gupta, Managing Director of Capital Markets and Investment Services India, with us. Piyush manages India's booming Capital Markets and Investment Services business while managing diverse investments across several asset classes.
This premium property offers an amazing range of 3 and 4-bedroom residences built to deliver the ultimate comfort and style. With a focus on modern living, Atlantis guarantees that residents can access a wide choice of modern amenities. 
The carpet space at Atlantis is astounding, with 3 BHK houses spanning 1500 square feet and 4 BHK residences covering 2150 to 2350 square feet. Atlantis is a RERA-registered project scheduled to be completed in January 2026, ensuring transparency and adherence to regulatory norms.  
With its prominent location, opulent offerings, and devotion to excellence, Atlantis is poised to reinvent premium living in Khar (West) and provide an unrivalled lifestyle of elegance and ease. 
Ajmera Cityscapes's core mission is to consistently deliver projects that stand the test of time. It aspires to become the developer of choice for those who seek happy, sustainable, and enriching life spaces. It is committed to delivering the enrichment of 'Fuller Living' to the lives of each resident who chooses their living space in Ajmera Cityscapes LLP development. 
Mr. Jesal Ajmera, Director of Ajmera Cityscapes, said, "This is the first joint venture project of Ajmera Cityscapes and West Avenue Realty. This collaboration marks the beginning of what we believe will be a successful long-term association. We are excited about this partnership's possibilities, combining our expertise and resources to deliver exceptional customer results." 
West Avenue Realty desires to cater to the smallest needs of the audience with integrity, and professionalism, and, not to forget, the righteous attitude to accommodate every 
potential to explore and improve. West Avenue Realty promises to create spaces with a conscious approach to the core principles of quality, ethics, transparency, trust, and care. 
Mr. Saumitra Bhatkhalkar, co-founder & partner of West Avenue Realty, said, "Having an experienced in-house architectural team has helped us deliver thoughtful layouts which contribute to creating functional and aesthetically pleasing spaces. The elevation has a sense of scale and proportion appropriate for its location." 
Mr. Vaibhav Kanabar, co-founder & partner of West Avenue Realty, said, "The target audience would typically be affluent individuals or families who value luxury, exclusivity, and a lavish lifestyle at a prestigious address with adequate social infrastructure. We want to offer property where luxury meets value which is hardly experienced in a city like Mumbai."  
About Ajmera Cityscapes: 
Established by Chairman Emeritus Late Shri Kishore Ajmera in the late 1950s, the Ajmera Group is diversified into Real Estate, Hospitality, Financial Services and International Trade in the Pharmaceutical Sector. The group is driven by the Chairman Emeritus' legacy value system that demands intense customer focus. Ajmera Cityscapes LLP's first foray into real estate was a small step with a single building at Casa Blanca at Oshiwara, Andheri, which apred across 30,000 sqft FSI. In the two decades since, they have gone from strength to strength, somewhere along the way, picking up a reputation for the quality of design and construction and superlative value for money. Presently Ajmera Cityscapes LLP has delivered 2.5 million square feet of constructed area that stand tall in eloquent testimony to the investment, care, impeccable workmanship and best-in-class construction leading to truly Fuller Living. Please visit https://www.ajmeracityscapes.co.in/ for more details. 
About West Avenue Realty: 
Founded by two passionate young minds, Mr. Saumitra Bhatkhalkar & Mr. Vaibhav Kanabar, with a zeal to become a trendsetter, West Avenue Realty is a promise to craft the finest development in the real estate market. Mr.Saumitra Bhatkhalkar, a highly accomplished architect known for his awe-inspiring designs and aesthetically brilliant spaces is also a developer having delivered about 60,000 square feet and around 2,00,000 square feet on going project, combined with Mr.Vaibhav Kanabar's unrivalled track record in negotiating and closing financially structured real estate deals, creates an extraordinary duo with exceptional leverage through their extensive network.

Monday 3 July 2023

Even Healthcare and Healthily announce landmark collaboration; Aim to empower Indian Users with Personalized AI Assessment and Verified Medical Content


● Indians will get access to free medically validated and reliable information on healthcare
● AI-powered symptom checker, personalised health assessments and self-care tips among other benefits

National, 3rd July 2023: Even Healthcare, a leading Bengaluru-based healthcare provider, and Healthily, a London-based digital health company, have announced a strategic collaboration to deliver comprehensive and data-driven preventive healthcare services in India. Indians will also get free access to verified medical content, written, and reviewed by top medical professionals from across the world. 
Healthily’s proprietary AI-powered symptom checker and an extensive library of medically verified healthcare content work seamlessly with Even’s mission to give millions of Indians accelerated access to quality healthcare information and proper care without having to rely on unfounded material available on the internet that does more harm than good. 
All the content on the platform is written by leading health journalists and verified by qualified doctors along with undergoing a rigorous fact checking process to meet a PIF tick quality mark, UK's independently-assessed quality mark for trusted health information. 
Healthily's Smart Symptom Checker allows users to enter symptoms and answer a few questions about their health to generate a report to help users decide the next steps. It utilises advanced AI and user-friendly design to provide medical knowledge beyond the confines of clinics, making it accessible in everyday life. 
Through this partnership, anyone currently exhibiting symptoms or curious about a medical condition, has free access to 100% medically verified and fact-checked information, along with the Smart Symptom Checker. Even members can use their Even membership to consult with Even doctors to have a focused conversation with medical professionals and kickstart their guided care.
With the right information at hand, users can benefit from personalized health assessments, symptom-specific information, self-care tips, and guidance on various health topics.
Even Healthcare's focus on managed and preventive approach aligns perfectly well with Healthily's mission to empower individuals to take control of their health. Together, they aim to improve health outcomes for everyone in India, without them worrying about costs. 
Through this partnership, not just Even Healthcare’s members but the wider Indian community will gain free access to Healthily's extensive library of verified medical content, and symptom-checking tool ensuring that they receive accurate and up-to-date information, and can take charge of their well-being. 
Matilde Giglio, Co-Founder, Even Healthcare said, "Self-diagnosis is a huge problem and can aggravate a medical condition. But we also understand that people find comfort in picking up their phone and looking for information. We wanted to, both, tackle the adverse effects of this phenomenon and empower users to make informed decisions about their health. Our partnership with Healthily allows us to provide the citizens of India the best of both worlds. We are extremely thrilled to partner with Healthily and bring free and verified medical content to the people in India, taking a significant step forward in fulfilling our aim to ensure that every Indian has access to quality healthcare.”
Matteo Berlucchi, Founder and CEO of Healthily said, "Joining forces with Even Healthcare gives us an opportunity to make a positive impact on the health and well-being of the citizens of India. Combining our evidence-based medical content with Even Healthcare’s innovative managed care approach, we can empower individuals to take proactive steps towards better health. We look forward to jointly contributing to helping build a healthier future for all."
About Even Healthcare:
Headquartered in Bengaluru, Even is a registered clinical establishment and healthcare provider. It’s a monthly subscription that allows its members access to a personalised team of doctors, along with access to diagnostic tests and hospitalisation cover of upto 1 cr. Its experienced medical team offers comprehensive preventive care to detect critical illnesses early on and improve clinical outcomes through evidence-based and strategic interventions.
About Healthily:
Healthily is the creator of an advanced AI platform transforming healthcare. With medically verified content developed by certified doctors, Healthily provides a comprehensive and reliable tool for healthcare consumers to navigate their healthcare needs.


Friday 30 June 2023

P&G India, Godrej Capital, Senco Gold & Diamond, and The Lalit Suri Group Join Forces to Present Pride Fest 2023



Mumbai, June 30th, 2023 - Pride Fest 2023, a collaborative effort by P&G India, Godrej Capital, Senco Gold & Diamond, and The Lalit Suri Hospitality Group, aims to raise awareness about the challenges and concerns faced by the LGBTQ++ community, while also exploring potential solutions. As part of final leg of Pride Fest 2023 celebrations, , a special event called 'Samvaad' was organized to facilitate meaningful interactions between LGBTQ++ community representatives and the press.

The Samvaad press interaction took place at The Lalit, Mumbai, with seven esteemed guests in attendance. These individuals represented a diverse range of backgrounds and perspectives, lending their voices to the ongoing dialogue about LGBTQ++ rights and inclusion.

Ankur Bhagat, Chief Supply Chain Officer at P&G India, expressed his support for Pride Fest 2023, stating, “At P&G, Equality and Inclusion (E&I) has always been the cornerstone of our culture; where equal access and opportunity to learn, grow, succeed, and thrive are available to everyone. In line with this, we focus on creating an equal and inclusive world both inside and outside P&G. Within the company, we bring this to life through our inclusive policies and culture which enable all our people to bring their true authentic selves to the workplace every day. Outside the Company, we continue to drive efforts in the communities we serve to advance inclusion for everyone. Educational institutes witness formative years when opinions are shaped, and ideologies are strengthened. We believe that this is the right stage to sensitize students, as well as other stakeholders around them, aiming to create safe spaces to foster and equal and inclusive society. With this, we launched our initiative ShareThePride, to work with 50+ educational institutes, including undergraduate colleges and post-graduate universities across the country to work towards sensitizing students, faculty, and staff. Along with this, the company will also partner with institutes to evolve the ecosystem to incorporate positive markers of an inclusive space.” 

Ruhie Pande, CHRO at Godrej Capital, highlighted the significance of this event, saying “Organizations are microcosms of the society we live in and therefore it is imperative that we embrace the full spectrum of human diversity. This is not just a good to do, but a strategic advantage for any organization as it fuels innovation, fosters creativity, and drives overall organizational success. The inclusion of a diverse workforce encourages dialogue, challenges stereotypes, and broadens our collective understanding of the world.

Creating a truly inclusive workplace environment means more than putting up rainbow flags and banners. It requires a genuine commitment to cultivating a culture of belonging, where everyone is empowered to bring their authentic selves to work without fear of prejudice or discrimination. We must actively challenge biases and dismantle systemic barriers that may hinder the progress of LGBTQ+ individuals. At Godrej Capital, we endeavor to provide LGBTQ+ employees with equal opportunities for professional growth and advancement. Internship programs, capability building initiatives, mentoring and employee resource groups are vital ways in which we seek to empower individuals to thrive in their careers while fostering a sense of community and support. Organizations must also actively engage in external advocacy efforts to promote LGBTQ+ rights and equality beyond the workplace. By leveraging their influence and resources, companies can contribute to the broader societal progress and create a positive impact. Inclusion is not a one-time accomplishment; it is an ongoing commitment that requires continuous learning, reflection, and action. Let us stand together as champions of diversity, actively embracing and celebrating LGBTQ+ individuals, for it is in the richness of our differences that we truly thrive”
 
Senco Gold & Diamond, a key partner in this initiative, shared their perspective on the event. While a representative from Senco was unable to attend the Samvaad press interaction, they conveyed their support, stating, "We believe in the power of unity, equality, and acceptance. Pride Fest 2023 provides a platform to amplify these values and advocate for the rights and well-being of the LGBTQ++ community." Senco Gold & Diamond, a key partner in this initiative, shared their perspective on the event. While a representative from Senco was unable to attend the Samvaad press interaction, they conveyed their support, stating, "We believe in the power of unity, equality, and acceptance. Pride Fest 2023 provides a platform to amplify these values and advocate for the rights and well-being of the LGBTQ++ community."
 
Pride Fest 2023, with its diverse group of collaborators, aims to drive positive change and inspire a more inclusive society. Pride Fest 2023 celebrations culminated 0n 30th June. Community representatives who gathered at the Samvaad session urged everyone to continue focusing on LGBTQ++ for round the year & not just the month of June. 

Community representatives unanimously shared their concerns about their challenges and how the non LGBTQ+ community members often treat them. The expectation of LGBTQ++ community has two parts to it (1) The reforms required at broader level to get the due to the community (2.) expectation of acceptance from the society. 

Through Pride Fest 2023 and the Samvaad press interaction, the organizers aspire to reach a wider audience and encourage open conversations around LGBTQ++ rights and issues. By engaging with the press, they aim to raise awareness foster understanding, and ultimately create a more inclusive and accepting society.

Wednesday 28 June 2023

ICAI promoting Start-up Ecosystem, Connecting Startup Community


The Institute of Chartered Accountants of India (ICAI) in association with StartUp India and Digital India is organising a two-day StartUP Sphere event on 27th June 2023 (Tuesday) and 28th June 2023 (Wednesday) at Jio World Convention Centre, Mumbai. The objective is to create awareness, help nurture ideas, enable capacity building and provide assistance for developing Startup ecosystem in India. 
Shri Uday Samant, Hon’ble Minister for Industries, Government of Maharashtra was the Chief Guest at the inauguration of ICAI StartUp Sphere 2023 program. On this occasion, he lauded ICAI initiatives to support and strengthen the capacity-building measures for the enhancement of the portfolio of MSMEs & Start-ups. He said, “It is a good opportunity for the Startups to come together on one platform and share their ideas. I am elated that it is happening in Mumbai and provided the state a chance to explore this area.”
The event witnessed panel discussions and thought-provoking sessions on various topics such as Governmental Eco System for Startups, New Avenues in Start Ups, Art and Science of Startup Valuation, and more. The event also encompassed a vibrant startup exhibition area featuring cutting-edge technologies, products, and services from various industries. The StartUP Sphere also had a startup ramp, a program on Maharashtra industrial policies, startup pitching program, investors meet, and many more.
On this occasion CA. Aniket Sunil Talati, President, ICAI said “ICAI has been actively involved in promoting and supporting startups, recognizing their importance in driving innovation, economic growth and job creation. ICAI Startup Sphere event aims to support and foster the growth of startups, thereby contributing to the development of a vibrant entrepreneurial ecosystem in the country.”
This year ICAI will be celebrating the 75th year of foundation of the institute and as a true partner in nation building ICAI had taken various measures to nurture and empower budding entrepreneurship, MSMEs and Startups in the country. ICAI was inducted into the India Book of Records for its initiatives MSME SETU and MSME Yatra which promoted Competitiveness and Capacity building of MSMEs. MoUs were signed to build an enabling ecosystem promoting entrepreneurship, Startups and MSMEs with the Government of Tamil Nadu, IIM Lucknow Enterprise Incubation Centre and Gujarat Student Startup & Innovation Hub (i-Hub). MoUs were also signed for capacity building with NIRD & Panchayati Raj, SCOPE, and Commissioner of Treasuries and Accounts, Government of Tamil Nadu. ICAI also had earlier launched various initiatives like Startup Manthan, ICAI Startup Samvad, startup portal (https://startup.icai.org/), startup incubation centres, certificate course on Startup, masterclass on startup etc. 
During the inaugural session today, CA. Ranjeet Kumar Agarwal, Vice-President, ICAI said, “Start-ups are centres of novel innovations, they generate jobs, which implies more career opportunities; more employment leads to a stronger economy, and a healthier economy has a direct bearing on the growth of cities where startups locate. StartUp Sphere program provides a unique opportunity for startups to connect with peers, industry experts and investors, and to gain insights into the latest trends and innovations in the startup ecosystem.”


Further CA. Dhiraj Khandelwal, Chairman, Committee on MSME & Start-up added “I invite all the aspiring entrepreneurs, investors, and innovators to StartUp Sphere. Engage in thought-provoking panel discussions led by industry experts and immerse yourself in interactive workshops. Chartered Accountants are leading the accounting, auditing and taxation roles, witness a significant shift in their role and now making their mark in the dynamic world of start-ups. Be part of this exclusive celebration of talent, passion, and ground-breaking ideas under one roof.”

This StartUP Sphere aims to bring together the startup community, partners, unicorns, influencers, founders, investors, leaders, and entrepreneurs under one roof and that provide a unique opportunity for startups to connect with peers, industry experts, and investors, and to gain insights into the latest trends and innovations in the startup ecosystem.
Speaking on Unique Document Identification Number (UDIN) CA. Aniket Sunil Talati said that the Governing Board of National Board of Accountants and Auditors (NBAA), Tanzania has approved the introduction of UDIN system in Tanzania. A request has been received from NBAA to share the step-by-step process for implementing the UDIN, as also to share ICAI’s experience and support for implementing UDIN in Tanzania.
UDIN Statistics: As on 13th June 2023, around 5.06 Cr UDINs have been generated and over 1.39 lakh Members have registered themselves on UDIN Portal. So far UDINs Generated 5,06,96,644 and Members Registered 1,39,750.
President ICAI also told that ICAI is in the process of coming out with a Guidance Note on Forensic Accounting and Investigation Standards. The Guidance Note will provide a comprehensive understanding of the Forensic Accounting and Investigation Standards issued by ICAI. It will also provide guidance on the interpretation and application of the Standards, as well as practical insights into the principles and methodologies involved in forensic accounting and investigation. 
CA. Aniket Sunil Talati, President ICAI talked about the Campus Placement Programme which is held twice a year and provides a platform to both the Newly Qualified Chartered Accountants (NQCAs) and the organizations looking to hire the best available talent to fulfil their Human Resource requirement. He said “This programme, being a one stop solution, offers a unique opportunity for employers to interact with the NQCAs, peruse the particulars of a huge pool of promising professionals and recruit the suitable one(s) who is found to be better than the best.” 
He added “The 56th edition of Campus placement Programme covered the candidates who had passed final examination held in May, 2022 examinations and candidates who passed final examination at the immediate previous examination, but did not register for the then-campus programme, were allowed to register. The interviews were successfully completed at 27 centres (9 major and 18 smaller) and 6 new smaller centres were added (Bhopal, Lucknow, Patna, Raipur, Ranchi & Vadodara). At all 9 bigger centres premier day slot were given, instead of the earlier practice of 5 bigger centres i.e. Delhi, Mumbai, Bengaluru, Chennai & Kolkata. Minimum CTC threshold was increased from Rs.6 LPA to Rs. 9 LPA at all existing 21 centres. For 6 new centres, minimum CTC was kept at Rs.7.2 LPA.”

About ICAI
The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by an Act of Parliament under the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountancy in India. The Institute, functions under the jurisdiction of Ministry of Corporate Affairs, with more than 7.83 Lakh Students & over 3.78 lakh members, ICAI is one of the largest professional accounting bodies in the world, with a strong tradition of service to the nation. Today ICAI has wide network of 5 Regional Councils and 168 Branches in India. It has 46 Overseas Chapters and 33 Representative Offices and presence in 80 cities and 47 Countries of the world.

Wednesday 21 June 2023

CELEBRATE THIS INTERNATIONAL YOGA DAY, THE OATS WAY!


International Yoga Day is a powerful reminder of the vital importance of overall well-being, encouraging individuals to embrace yoga as a key component of a balanced lifestyle. Since mornings tend to set the tone for the day, exercising and consuming a nutritious breakfast can help improve both your mood and your energy levels. Thus, planning your meal in advance can make all the difference to your schedule. 

Quaker has a delicious recipe that’s convenient, tasty and nutritious, all in one, supporting your journey to #BeTheRealFit. 

Combine the convenience of this overnight oats recipe with the spirit of International Yoga Day, and you have a perfect way to start your day on a nourishing and balanced note, along with enjoying a good yoga practice. This easy-to-prepare and tasty recipe is made with wholegrain oats, that provide lasting energy*, is a good source of fiber and protein, combined with the added goodness of chia seeds and fruits, for a wholesome start to the day. 

So, as you roll out your yoga mat and immerse yourself in the practice, knowing that a delightful and nutritious recipe awaits you.  

S. NO: ITEM QUANTITY 
1. Quaker Oats 1 cup
2. Milk 3/4th cup
3. Orange Juice 1/4th cup
4. Mixed berries (Blueberries, Mulberries, Raspberries.) 1 cup
5. Butter (Optional) As per taste
6. Honey (Optional) As per taste
7. Water 1/4th cup
8. Ground cinnamon 1/4th tsp
9. Chia seeds soaked in water 2 tbsp
10. Greek yogurt ½ cup
FOR ASSEMBLING IN THE JAR
 Mason Jar 250 ml
1. Overnight soaked Quaker Oats 1 cup
2. Berries compote As per preference
3. Chia seeds soaked 2 tbsp
4. Mint leaves for garnish Few
5. Berries (blueberries, raspberries, or sliced fresh strawberries.) ½ cup
6. Maple syrup or honey (optional) As per taste


























INSTRUCTIONS: 
FOR SOAKING THE OATS OVERNIGHT
 Take Quaker Oats in a jar, pour milk and orange juice in it and let it soak overnight.

FOR BERRIES COMPOTE 
 Heat a saucepan, add some butter (optional) then add in berries like blueberries, raspberries, and mulberries etc. Cook with honey (optional) and some water, use a wooden ladle to mash the berries.
 Add cinnamon powder and let it cool down. 

FOR ASSEMBLING IN THE JAR 
 Take a mason jar, add in 2 tbsp of overnight soaked Oats at the bottom.
 Add a dollop of Greek yogurt on top and then add the berries compote over it.
 Repeat the layers one more time, then at the top add a small dollop of Greek yoghurt and arrange fresh berries for garnish and serve chilled.

UNCLE CHIPPS REIGNITES “BOLE MERE LIPS, I LOVE UNCLE CHIPPS”® WITH YASH RAJ MUKHATE


• Brand unites with music composer Yashraj Mukhate to recreate the timeless ‘Bole Mere Lips, I Love Uncle Chipps’® jingle  
• Sensational jingle has already garnered 168K views within an hour of going live, sparking a wave of escalating excitement 

Link to jingle – https://www.instagram.com/p/CtvfgFyuf9A/?hl=en

New Delhi, 21st tune 2023: For decades, Uncle Chipps has been bringing joy and excitement to countless snacking occasions. This irresistible potato chip snack has not only satisfied consumers’ taste buds but also made hearts sing along with its iconic jingle - Bole mere lips, I love Uncle Chipps!® Celebrating the unparalleled adoration for the brand, Uncle Chipps has collaborated with music maestro and internet personality, Yashraj Mukhate, to introduce the jingle in a brand-new and unique avatar.
This dynamic collaboration evokes a wave of nostalgia while reminding audiences of their enduring bond with Uncle Chipps, treating fans with an unforgettable experience. Known for his viral parodical videos, Yashraj has lent his musical expertise to craft a new rendition of the celebrated jingle. The video delightfully captures the universal feelings associated with brand, as Yashraj goes in for irresistible bites of Uncle Chipps, seamlessly synced with toe-tapping beats of the jingle.  
Sharing her enthusiasm on the reintroduction of the jingle, Saumya Rathor, Category Lead – Potato Chips, PepsiCo India, said, “The launch of the new Uncle Chipps jingle is an exciting moment for us all. A hit since the 90s, this jingle continues to resonate deeply even today with a massive fan following that spans across celebrities, consumers, and beyond. The revival of ‘Bole Mere Lips, I Love Uncle Chipps’ ®, is our way of celebrating the enduring universal love for the brand and the fandom that surrounds these delicious, crinkled potato chips. Yashraj Mukhate has exceptionally infused his musical prowess and unique style to create a rendition that captures the spirit of Uncle Chipps and the response thus far has been absolutely thrilling.” 
The catchy tunes of the composition have already struck a chord with the audience, amassing an impressive 168K views within an hour and an array of positive comments such as "Uncle Chipps chahiye", “Amaze”, “Uncle Chips…nostalgia”, "Wow, this is really good”, “My most fav chips and lovely jingle” and more. The launch of the new jingle will be followed by other multi-media activations. 
About Uncle Chipps:
Introduced in 1992, Uncle Chipps is a beloved potato chips brand under the umbrella of PepsiCo India. Recognized for its distinctive crinkle-cut texture, Uncle Chipps has won the hearts of snack enthusiasts nationwide. Available in two irresistible flavours – Spicy Treat and Plain Salted – Uncle Chipps has become a household name, celebrated for its unforgettable tagline, "Bole Mere Lips, I Love Uncle Chipps," ® which continues to resonate deeply with consumers even today. For the latest updates and exciting content, follow us on Instagram @unclechipps_india.
About PepsiCo India:
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $86 billion in net revenue in 2022, driven by a complementary beverage and convenient foods portfolio that includes Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.
Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with pep+ (PepsiCo Positive). pep+ is our strategic end-to-end transformation that puts sustainability and human capital at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people. For more information, visit www.pepsico.com, and follow on Twitter, Instagram, Facebook, and LinkedIn @PepsiCo.


Thursday 1 June 2023

Quench Botanics - new launches and introduction to new skincare trends

 

  • How To Transition Your Skincare Routine for The Upcoming Monsoon Season!
  • 5 Reasons Why You Should Switch To Cruelty-Free Skincare
  • No More Cakey Makeup: Here’s How To Prep Your Skin For A Flawless Look
  • Dry Skin Vs Dehydrated Skin: Here Is The Difference

 


 

5 Reasons Why You Should Switch To Cruelty-Free Skincare

We know it’s easy to reach for hyped products without putting much thought into what goes into making it. However, with so much awareness about what goes into what we put on our skin, it’s time to take notice.

With the current change in beauty trends and people becoming aware of the intensity of these testing methods, cruelty-free brands have now become quite popular. To put an end on using animal tested, skincare we need to know why is there a need to do. Team of experts from Quench Botanics lists down 5 reasons on why one should switch to cruelty-free skincare. 

Animal Testing for Cosmetics and Skincare Is Unnecessary

Cosmetic companies already have a list of over 7,000 ingredients that are already proven to be safe. More humane alternatives are out there and technology has made them only better and more accurate. These include Vitro diagnostics, cell culture tests and computer modelling. There is sufficient existing safety data to render animal testing for products obsolete.

It’s More Sustainable

Being more mindful of what we consume is always a good thing. Moreover, animal testing labs produce considerable quantities of toxic waste that is extremely damaging to the environment. Plus, with mindful consumption, we buy only the things we need, reducing waste.

Saves Lives, Quite Literally

The influx of cruelty-free products means that companies are slowly but surely adopting more ethical practices and shutting down animal labs, sparing lives. This helps preserve eco-spheres and prevents species extinction. A lot of cruelty-free companies also donate to green causes!

It’s Better for Your Skin

Cruelty-free skincare uses fewer chemicals than most animal-tested brands. These ingredients are tried and tested over a long time and have been proven safe through other methods of testing. Plus, you don’t have to live with the death of a cute bunny on your conscience!

You’ll Be Supporting other businesses

A lot of brands test on animals. Switching to cruelty-free brands help support causes close to your heart. You’ll be contributing to your country’s economy as well. You will have a plethora of brands to pick from, as more and more companies are choosing to forgo animal testing.

Plus, there is the added benefit of feeling great knowing that you’ve made a positive difference in the world! 




Dry Skin Vs Dehydrated Skin: Here Is The Difference

Many of us struggle from dry skin at some point or at times its an ongoing problem. And that we need to invest in certain skincare products that can take care of this. Then, there are others who have been told their skin is ‘dehydrated’. You may have seen dry and dehydrated used interchangeably, but they are not the same thing. Team of experts from Quench Botanics elaborate on the difference between dry & dehydrated skin. 

Dry Skin

Dry skin lacks oil. This is usually a permanent condition as it is a skin type. This skin type is characterized by your sebaceous glands not secreting enough sebum. As a result, the skin barrier doesn’t get enough lipids to lubricate the skin. This usually causes flakiness and redness, making the skin appear rough, cracked and leathery. 

Dehydrated Skin 

Dehydrated skin lacks moisture content. Unlike dry skin, it is a skin condition and can be ‘fixed’ – anyone can experience dehydrated skin – yes, even oily skin! Dehydrated skin looks flat and dull and can show flaking in patches. It also shows up as fine lines. It is usually caused by change in seasons, harsh weather, and stress and sun damage.

How to treat dry & dehydrated skin? 

Steer clear of cleansers that leave your skin dry and stretchy. Instead, go for cream cleansers or cleansing balms that are loading with good fatty acids and oils that’ll help plump your skin as it cleanses it gently. 

Make sure you are drinking at least 2-3 litres of water! It really does reflect in your skin. If it is summer, you may require more water. Set a reminder to drink water every hour to avoid that dehydration.

For a dehydrated skin, humectants, ingredients that help pull moisture into your skin. Hyaluronic acid and glycerin are great humectants and are especially amazing for dehydrated skin. Try the fast-absorbing Mama Cica Dark Spot Correcting Ampoule which contains hydrating ingedients like cica, hyaluronic acid, lotus root and Korean ginseng.





No More Cakey Makeup: Here’s How To Prep Your Skin For A Flawless Look

 

The road to smooth, non-cakey makeup is quite bumpy (pun intended). Who knows what’s sitting on your skin before you slather your face with foundation? And obviously, just using a cleanser is not sufficient for that clean look! So, think of your skin as a blank canvas. The smoother the canvas is, the better the painting will look. For that, you have to weed out everything that is coming in the way – oiliness, congestion, dullness, dryness, large pores and oh the list goes long. 

Quench Botanics team of experts will help you prep your skin before make-up that will ensure a glowy and a flawless look. 

Step 1: A Through Cleanse

Cleansing helps reset your skin. From dirt, grease, oil to pollution residue, anything that is sitting on your face will be taken care of. So, based on your skin type and concerns, you can pick a cleanser that suits you. For oily, acne-prone or combination skin, its’s best to opt for a non-stripping, gel-based cleanser. We recommend our Chialeader Shine Control Gel Face Wash and Mama Cica Pore Clearing Exfoliating Face Wash. They both contain pore-clearing and oil-balancing ingredients that control and prevent acne. For dry skin, try our Bravocado Pollution Rescue Cream Face Wash and Mesmerice Gentle Exfoliation Cream Face Wash, which are very hydrating.

Step 2: Can’t Do Without Exfoliation

Exfoliating before makeup not only gives you a clean, clear canvas to work with but also ensures that your makeup stays on for long. So, when a smooth makeup + glowing skin in your mind, nothing beats our Birch Please Intense Glow Gel Mask. It lends an instant glow and deeply hydrates skin. It contains salicylic acid that works on the skin's deeper layer to reveal fresh and firm skin. It bestows a lit-from-within glow that will peek through your makeup as well. The cooling gel consistency helps du-puff your face and the mellow fragrance will instantly calm and relax you.

Step 3: Time to Tone

After you’ve exfoliated, your pores have opened up to the world. Not using a toner post exfoliating will leave them open attracting dust, dirt and even makeup. Plus, a toner will ensure that your moisturizer is seeping into the skin and not just sitting on the surface. Indulge in our Yuzu Fine Vitamin C Brightening Toner and give your skin a makeover. It contains superfruit yuzu, which has 3X more vitamin C than lemons, niacinamide and ascorbic acid that brighten skin and lightens dark spots. Take some on your palms and pat it on your face and neck. Allow it settle into your skin before you move onto the next step.

Step 4: Hello Hydration

Moisturizer will always be non-negotiable. No matter whether it is outside, or what skin type you have. Smoothen your face with a hydrating moisturiser which not only offers intense hydration, but also sun protection with SPF 40+ PA+++. This is a genius way to reap the benefits of two products in one step. It’s non-sticky, non-greasy, non-oily and does not leave any white cast, which makes it perfect to apply under makeup.

Step 5: Brighten Up Your Eyes

The best way to avoid under eye concealer creasing? Use an eye cream! Depuff your eyes for a fresh, well-rested look with a hydrating undereye gel. A product that contains hyaluronic acid that tackles dryness and plumps the delicate under eye area. Just let it sit on under your eyes for 10 minutes and you’ll have instantly de-puff, fresh eyes! 

Step 6: Prime Time

Never jump right into your base makeup without applying a coat of primer. It acts like glue and increases your makeup’s stay and longevity. Plus, the pore-blurring effect allows your makeup to glide with ease and not settle into pores and fine lines. If you have oily or acne-prone skin, use a pore-perfecting and oil-controlling primer that prevents your makeup from melting. For those with dry skin, apply a hydrating primer which nourishes your skin and prevents dry patches from showing. If you have dull and lack-luster skin, then a brightening primer will be perfect for you. 

 

How To Transition Your Skincare Routine for The Upcoming Monsoon Season!

Just like the Earth is finally quenching its thirst in some parts of India after months of scorching heat, now it’s your skin’s turn to get its long-due TLC as well. That being said, navigating a skincare routine that can surpass common monsoon concerns like dullness, itching, and acne is a slippery road. 

So, as the temperature has stooped low, and the humidity has risen, Quench Botanics team of experts suggests few skincare swaps that will leave you with surprising skin results! 

Don't Just Cleanse, Double Cleanse

Monsoon is the breeding season for bacteria, and impurities to clog your skin and make it dull. The best way to tackle this? Use an oil-based cleansing balm to massage away all the baddies and get healthy pores and skin. Follow it up with a gel-based cleanser and your pores will shed some happy tears.

Embrace Water-based Skincare Products

Let it rain on your skin, with products that are high in water content. That means creams, moisturizers, serum or facial oils that are heavy on the skin, need to be tucked away for a while. Think hyaluronic acid and super-hydrating essences that hit the jackpot when talking about hydration. Our best pick? The Quench Botanics Birch Please Skin Soothing Clarifying Serum go amazingly-well together.

Incorporate Clay Masks

While sheet masks are the perfect way to end hot summer days, monsoon calls for deep cleansing, detoxifying and pore-purifying masks that sweep off dirt and grime. If your skin tends to get very oily during this season, then a clay mask is your saviour. It zaps excess oil, and draws out impurities to give you blemish-free, healthy skin.

On the other hand, if rainy seasons means dull skin to you, nothing surpasses a brightening clay mask or a cleanser. With brightening ingredients like cherry blossom, grapefruit and pearl, dull skin does not stand a chance.

Mists Out, Toners In!

The rain can wreak havoc on your skin if your pores aren’t prepped for it. To give them a helping hand and prevent clogging, indulge in Quench Botanics Matcha Better Pore Clearing Skin Tonic. This potent liquid gently exfoliates, unclogs pores, eliminates blackheads as well as hydrates the skin.

Pick A Gel-based Face Cleanser

During monsoon, when your skin is already undergoing a turmoil, treat it with a calming and nourishing gel-based face wash. Where foaming face washes are great to dissolving summer sweat and dirt, Quench Botanics’ Matcha Better Skin Detox Gel Face Wash deeply detoxifies with its biodegradable beads and revitalizes skin thanks to ingredients like mandarin orange peel oil, chamomile, and rose geranium oil.

 

Wednesday 31 May 2023

TiE Mumbai announces TiECon Mumbai 2023

Unboxing India 3.0 – Anti fragile| Conscious| Innovating
Mumbai, 31 May 2023: TiE Mumbai has announced the 16th edition of its flagship conference - TiEcon Mumbai which will be held on the 2nd of June 2023 at the prestigious Jio World Convention Centre. BKC - India's largest and first state of the art Conference and Exhibition center. India stands at the forefront of a significant transformation that has caught the attention of the world. The country's focus on high-tech manufacturing, digital technology, knowledge capital, life sciences, and tech entrepreneurship has positioned it to lead the global revolution in a significant way. Given the current dynamic scenario of entrepreneurship in India, this year's conference will be based on the theme "Unboxing India 3.0 – Anti fragile| Conscious| Innovating". 
Ranu Vohra, President – TiE Mumbai said “India is poised to play a pivotal role globally, becoming the epicenter for High Tech Manufacturing, Supply of Knowledge Capital to the world, and providing the – fastest growing market for digital consumers. We want to explore these facets of India 3.0 and articulate the role of Startups and new age (tech & digital) businesses in developing this landscape. The environment of the last year including big moves in generative AI and environmentally friendly technologies have presented a large opportunity for Indian entrepreneurs. At TiEcon 2023, we intend to introspect & go back to basics and recalibrate business models for them to stand the test of time. We further want to rethink business and fund-raising strategies and hence create more robust companies.”
TiEcon Mumbai is the largest Entrepreneurial conference in the West of India, and it attracts all the key Industry Leaders from Mumbai and India, Startup Founders and Investors. TiEcon sees close to 3000+ people attending the conference. At the conference, TiE Mumbai is all set to take the plunge and capture the momentum of businesses that are emerging and thriving through the disruption cycles. It will investigate the nuances of the current global and technological disorder that is shaping a new mindset and breed of startups who are emerging stronger from these disruptive cycles.
“The focus of the conference is to integrate all the ecosystem players in the conference and dwell deeper into conversations on building efficient businesses and models that shall pave the way for a more mature industry. TiEcon 2023 will attract around 45+ India's leading Unicorns and the key focus of the conference would be $10T GDP, 850+ Soonicorns - Understanding their Journey, Emergence of Indian Decacorns, G20 opportunities, Unit Economics & Profitability in Ushering Amrit Kaal, New Horizons - AgriTech, HealthTech, Climate Action, FinTech & Smart Living, Innovate for India, Open AI/Chat GPT.” said Dr. Apoorva Ranjan Sharma, President Elect, TiE Mumbai
The upcoming conference seeks to explore the shifting landscape of digital consumption and lifestyle, examining critical issues such as the transformative impact of start-ups on consumer habits, the rise of seamless convenience, the increasing volume of transactions across sectors, and the pressing need to upskill talent to meet the demands of the rapidly evolving market. It would thus provide a comprehensive understanding of the current market trends and help businesses stay ahead of the curve.
What to Expect at TiEcon 2023 - 45+ Unicorns, 100+ Soonicorns, 500+ Investors, 100+ Corporates, 2500+ Entrepreneurs, 100+ Bankers, 200+ Industry leaders, 25+ Private Equity attending the event.
Unboxing TiEcon Mumbai 2023- The conference will look at the sessions from the macro lens on the main stage. The main stage will feature leaders delivering their thoughts on macro-level issues, such as India 3.0, funding interests and innovation in India and beyond. It's going to be packed with Expo Zone with more than 100 startups and other networking zones.
Some of the key speakers who will be part of this year’s TiEcon Mumbai are Ranu Vohra -President, TiE Mumbai & Co-Founder and Executive Vice Chairman, Avendus Capital, Dr. Apoorva Ranjan Sharma   President-Elect, TiE Mumbai & Co-Founder, Venture Catalysts & 9Unicorns, Anupam Mittal - Founder & CEO, People Group, Atul Nishar – Founder Hexaware, Azent Overseas Education & Techpro Ventures , Prashant Pitti - Co-Founder, EaseMyTrip, Anish Shah - Managing Director & CEO, Mahindra Group, Aakrit Vaish - Co-Founder & CEO Haptik, Rizwan Koita - Co-founder- CitiusTech & Co-founder – Koita Foundation, Vishal Gondal - Founder & CEO, GOQii , Mayank Kumar - Co-Founder & MD, upGrad, Ashwin Damera – Co-Founder & Executive Director , Eruditus, Neeraj Roy - Founder & CEO, Hungama Digital Media Entertainment Ltd, Sameer Nath - Chief Investment Officer & Head - Venture Capital & Private Equity, 360 One Asset, Pratik Sethi - Managing Director & Head – Digital & New Age Business, Ambit, Anuj Golecha - Co-Founder, Venture Catalysts & 9Unicorns, Nishith Desai – Founder & Managing Partner, Nishith Desai & Associates, Srikanth Velamakanni - Co-Founder, Group Chief Executive & Vice Chairman, Fractal AI, Amritagandha Dutta – Founder & CEO, Expand AI, Vinayak Shrivastav- Co-Founder & CEO, VideoVerse, Arjun Vaidya - Ventures Lead India, Verlinvest, Siddharth Shah - Co-Founder, PharmEasy, Nitish Mittersain - Founder, Jt MD & CEO,  Nazara Technologies Ltd, Devangi Parekh - Managing Director, Aza Fashions, Darpan Sanghvi – Group Founder & CEO, Good Glamm Group, Sagar Agravwal - Co-Founder & Managing Director, Beams FinTech Fund, Dhanpal Jhaveri - Vice Chairman, Everstone Group, Mayank Jain - CEO-New Auto, CarDekho, Abhay Pandey - General Partner, A91 Partners, Sreevathsa Prabhakar - Founder & CEO, Servify, Sameer Narkar - Founder, Konnect Insights, Deena Jacob – Co-Founder & CFO, OPEN, Abhay Pruthi – Business & Product, CRED, Ahana Gautam, Co-Founder & CEO, Open Secret, Akhilesh Ayer – EVP Global Head, WNS Triange, Bhavin Patel - Co-Founder & CEO LenDenClub, Chef Harpal Singh Sokhi – Celebrity -Chef & Founder Turban Tadka Hospitality, Eshwar K Vikas -Co-Founder & CEO, Mukunda Foods, Farzana Haque – TCS Leadership, Philanthropist, Board Member, Mentor, Gaurav Kachhawa – CPO, Gupshup, Ido Peleg – President & Founder, Facetrom, Kartikey Hariyani – Founder & CEO, ChargeZone, Manan Dixit – Co-Founder & CEO, FidyPay, Manoj Pardasani – Partner, ESG Tax, KPMG in India, Ms. Michelle Wade – Commissioner to South Asia State Government of Victoria, Australia, Mukund Pandey – Managing Director, Enterprise, Cisco, Murali Krishnan – Co-Founder & CMO, Wow!Momo, Navin Honagudi – Managing Partner, Elev8 Venture Partners, Nitin Singh – MD & CEO, Avendus Wealth Management, Pallab Roy – Partner in Business Consulting , KPMG in India, Parag Shah – Member of Group Executive Board, Mahindra Group, Piyush Kumar – Founder & CEO, Rooter, Pratekk Agarwaal – Founder & Managing Partner, GrowthCap VC, Punit Goyal – Co-Founder, Blusmart, Ravi Ranjan – Chief of Events & Partnership, Venture Catalysts, Ritesh Jain – Co-Founder, FlexiLoans, Sanket S. – Founder, Scandalous Foods, Shaleen Sinha – Head BCG Growth Tech India, Boston Consulting Group (BCG), Vidit Bahri – Co-Founder, Sukoon Health, Vikram Gupta – Founder & Managing Partner, IvyCap, Vishesh Khurana – Co-Founder, Shiprocket, Vishnu Pillai – Financial Services Technology Leader, Office Managing Partner -Kochi, KPMG in India, Wouter Vanhees – Trade and Investment Commissioner, Flanders Investment & Trade, Chandra R Srikanth – Editor -Technology Startups & New Economy, MoneyControl & Ganesh Natarajan – Chairman, Honeywell Automation & F5 World.
To know more about the event & register, please click here https://tieconmumbai.org/register 

About TiE Mumbai
The Indus Entrepreneurs (TiE), was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. Since 1992. TiE has been supporting entrepreneurs by offering education, mentorship, networking and funding opportunities. The mission of TiE is to foster entrepreneurship globally through the 5 pillars of TiE : mentoring, networking and education, funding and incubation. Dedicated to the virtuous cycle of wealth creation and giving back to the community. TiE’s focus area is to generate enable the next generation of entrepreneurs. There are currently 11,000 members, including over 2,500 charter members in 60 chapters across 17 countries. TiE’s mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE’s focus is on generating and nurturing our next generation of entrepreneurs.

Tuesday 30 May 2023

ONGC declares results for FY’23

Arun Singh, Chairman ONGC, Rajarshi
Gupta, MD, OVL & M. Venkatesh, MD,
MRPL along with Dirs of ONGC group

#NewDelhi 2023 May XXVI: ONGC declares results for FY’23; posts net profit of Rs 38,829 crore for FY’23, highest ever total dividend of 225% for FY’23
Highlights:

· Gross Revenue Rs. 36,293 crore in Q4FY’23, up by 5.2 %; Rs. 1,55,517 crore in FY’23, up by 40.9%

· Total dividend for FY’23 Rs. 11.25 per share (225%) considering interim dividend of Rs. 10.75 per share (215%) and Final dividend of Rs. 0.50 per share (10%)

· Eight discoveries made and three monetized in FY’23

ONGC Board of Directors in its 364th Meeting held on 26th May, 2023, approved the annual results for FY’23.

1. Financial Performance (Standalone)

Particulars

Q4FY’23

Q4FY’22

% Var

FY’23

FY’22

% Var

Gross Revenue (Rs. Crore)

36,293

34,497

5.2

1,55,517

1,10,345

40.9

Exceptional items (including current year provision for ST/GST on royalty)*

(12,107)

-

-

(12,107)

-

-

Profit/(loss) Before Tax (PBT) *

(Rs. Crore)

(979)

11,714

(108.4)

50,395

41,040

22.8

Profit/(loss) After Tax (PAT)*

(Rs. Crore)

(248)

8,860

(102.8)

38,829

40,306

(3.7)

* The company has reviewed the entire issue of disputed Service tax and GST on royalty and has decided to make a provision towards these disputed taxes as a prudent and conservative practice. Accordingly, during the quarter and year ended March 31, 2023, the Company has provided Rs. 12,107 crore towards disputed taxes of ST/GST on Royalty for the period from April 1, 2016 to March 31, 2023 together with interest thereon. 

The above adjustments have adversely impacted the profitability for Q4 and FY’23. However, the Company shall continue to contest such disputed matters before various forums based on the legal opinion.

Crude Oil Price-Nominated

Realization (US$/bbl)

77.12

94.98

(18.8)

91.90

76.62

19.9

Realization (Rs./bbl)

6,344

7,147

(11.2)

7,388

5,709

29.4

 

Particulars

Q4FY’23

Q4FY’22

% Var

FY’23

FY’22

% Var

Crude Oil Price-JV

Realization (US$/bbl)

77.11

95.53

(19.3)

93.02

77.15

20.6

Realization (Rs./bbl)

6,343

7,189

(11.8)

7,478

5,748

30.1

Gas Price

Price on GCV basis ($/mmbtu)

8.57

2.90

195.5

7.34

2.35

212.3

 

2. Dividend pay out

The total dividend for FY’23 would be 225% (Rs.11.25 per share of face value Rs 5 each) with a total payout of Rs. 14,153 crore. This includes interim dividend of 215% (Rs. 10.75 per share) already paid during the year and final dividend of 10% (Rs.0.50 per share) recommended by the Board.

 

3. Production Performance

Particulars

Q4FY’23

Q4FY’22

% Var

FY’23

FY’22

% Var

Crude Oil–ONGC (MMT)

4.518

4.651

(2.9)

18.540

18.604

(0.3)

Crude Oil–JV share (MMT)

0.442

0.513

(13.8)

1.901

2.162

(12.1)

Condensate (MMT)

0.275

0.226

21.7

1.044

0.941

10.9

Total Crude Oil (MMT)

5.235

5.390

(2.9)

21.485

21.707

(1.0)

Gas – ONGC (BCM)

5.073

5.167

(1.8)

20.628

20.907

(1.3)

Gas – JV share (BCM)

0.188

0.172

9.3

0.723

0.773

(6.5)

Total Gas (BCM)

5.261

5.339

(1.5)

21.351

21.680

(1.5)

Value Added Products (KT)

612

753

(18.7)

2,598

3,089

(15.9)

The decrease in oil/gas production is mainly due to delay in implementation of KG-98/2, cluster-II project and less than envisaged production from WO-16 and Cluster-7 and reservoir issues in S1-VA fields.

Svayam's 'Accessible Family Toilet Project' Reveals that 76% of People in Rural India, with Reduced Mobility, Struggle to Access Basic Sanitation Facilities

In four years, 1.44 crore individuals have been made aware of the significance of accessible sanitation across 14 st...