Manufacturing Companies

Zetwerk raises $90 million in 2024, led by Khosla Ventures, Rakesh Gangwal, and Baillie Gifford, increasing its valuation to $3.1 billion

Hi-Tech Pipes on Tuesday said it bagged orders worth Rs 105 crore for supply of electric resistance welded steel pipes from customers in the renewable energy sector. The company also announced a plan to raise up to Rs 600 crore through issuance of equities. The supply orders will be executed from its new manufacturing facility located in Sanand, Gujarat over the next three months, the steel pipes maker said in a statement. The orders for supplying ERW (electric resistance welded) steel pipes, totalling Rs 105 crore, came from key customers in the renewable energy sector, according to the statement. "The steel pipes will be utilized in various applications within the renewable energy sector, including wind farms, solar installations, and other green energy projects," it said. In a separate statement, the company said its board has approved a plan to raise up to Rs 600 crore though equity issues. The fund raising plan has been approved "by way of issue of equity shares or any other

It was a broadbased downturn in the euro zone while a slump in China's manufacturing activity suppressed its Asian neighbours

Precision engineering and manufacturing firm Balu Forge on Monday said its on-year net profit grew over two-fold to Rs 34.16 crore in the April-June quarter this year, driven by higher income. The company had posted a net profit of Rs 16.67 crore in the April-June period of FY24. The company said revenue from operations for the reporting quarter stood at Rs 175.3 crore, up 56 per cent from Rs 112.38 crore in the first quarter of the earlier fiscal, helped by focus on client addition and continued demand for the specialised engineering products. The company's EBITDA (Earnings before interest, taxes, depreciation and amortization) grew by 97.31 per cent, while margins expanded by 516 bps from 19.48 per cent in Q1FY24 to 24.64 per cent in Q1FY25, on account of increase in scale of operations and increased demand for heavier products which tend to yield better margins, Balu Forge said. "Our robust financial performance was an outcome of our dedicated strategy implementation focused on

Industrial gases firm Air Liquide India on Friday said they have set up a manufacturing unit in Mathura, Uttar Pradesh, with an investment of Rs 350 crore with a view to expand its business. This air separation unit, it said, is dedicated to healthcare and industrial merchant activities in Kosi, Mathura. It has a production capacity of more than 300 tonnes of liquid oxygen and medical oxygen per day, as well as about 45 tonnes of liquid nitrogen and 12 tonnes of liquid argon per day, the company said in a statement. The unit will supply industrial gases across Delhi Capital Territory, Western Uttar Pradesh, Rajasthan, and Madhya Pradesh. The medical grade oxygen manufactured in this plant will be supplied to hospitals. It added that the new unit is planned to fully operate on renewable energy by 2030. "Air Liquide has invested around Rs 350 crore to build this state-of-the-art air separation plant," it said in a statement. Air Liquide India is a key supplier of industrial gases

Nations that are important nodes in factory supply chains enjoyed an acceleration in March

PE investment to flow to financial, healthcare, and consumer sectors

The government is likely to put in place a simple import authorisation procedure and not a licensing process for inbound shipments of laptops, tablets and computers from November 1, according to sources. However, they said the commerce ministry is awaiting a final word on the issue from the Ministry of Electronics and Information Technology (MeitY). The government in August imposed import restrictions on laptops and computers (including tablet computers) with a view to boost domestic manufacturing and cut imports from countries like China. As per the notification of the Directorate General of Foreign Trade (DGFT), the restrictions will come into force from November 1. While the IT hardware product industry comes under MeitY, the DGFT notifies decisions with regard to import/export of a product. Following this notification, IT hardware industry had flagged concerns. "It will be more in the nature of an import management system where people will be issued an authorisation. It will

Packaged drinking water company Bisleri International is scaling up its manufacturing and strategic distribution network for easier and cost-effective placement of products and market gains, its Vice-Chairperson Jayanti Khan Chauhan said on Thursday. The company, currently, has 128 manufacturing plants and is looking to increase it to 150. The expansion would be through plants owned by Chauhan promoted company and its co-packers, which are exclusive to Bisleri. Bisleri is also expanding its offerings into CSD (carbonated soft drinks), premiumise through the brand Vedica Himalayan Spring Water, besides its mainstay of packaged drinking water business with an innovative approach. When asked about the outlook, Chauhan told PTI: "We are definitely going to increase our distribution, scale up on distribution and manufacturing for CSD for Bisleri. This strategic placement of manufacturing units and distribution networks will make it easier and cost-effective for us to get our products to

Goodluck Defence and Aerospace Private Ltd will manufacture machinery for the defence and aerospace industry

Apollo Micro Systems Ltd (AMSL) is planning to set up a defence equipment manufacturing facility in Telangana at an investment of Rs 150 crore. The proposed facility will come up on an area of 3 lakh sq ft at its facility in Hyderabad, AMSL said in a statement on Monday. "Apollo Micro Systems Ltd proposes to set up a state-of-the-art defence equipment manufacturing facility in Hardware Park, Hyderabad. The company has estimated total investment in the upcoming ventures to be around Rs 150 crore," it said. The company said it is planning to complete the project in nine months. The company recently incorporated a wholly owned subsidiary -- Apollo Defence Industries Private Ltd -- to take forward its plans of manufacturing defence equipment. This subsidiary will focus on forming alliances and technological partnerships with international companies to provide cutting-edge defence solutions and serve the nation, the statement said. Baddam Karunakar Reddy, Founder and Managing Director

So far this calendar year 2023 (CY23), shares of BHEL soared over 17 per cent, as against 7 per cent rise in the S&P BSE Sensex

Income from operations stood at Rs 66.68 crore, an increase of 15.94 per cent over the same period last year

Listed manufacturing companies recorded lower sales growth of 10.6 per cent in the December quarter of the current fiscal compared to 20.9 per cent in the previous quarter, according to data released by the Reserve Bank of India (RBI) on Thursday. The moderation in the manufacturing companies was broad-based across the industries, except for cement. Over all, sales growth of listed private non-financial companies moderated to 12.7 per cent in third quarter of 2022-23 from 22.6 per cent in the previous July-September period. The Reserve Bank of India (RBI) has released data on the performance of the private corporate sector during the third quarter of 2022-23 drawn from abridged quarterly financial results of 2,779 listed non-government non-financial companies. However, Information technology (IT) companies remained on high growth trajectory and recorded 19.4 per cent rise in sales. Also, revenue growth for non-IT services companies was supported by steady performance in trade, ...

Majority of manufacturing companies plan to hire more people in the next three months amid increasing domestic demand, according to a survey. A TeamLease 'Employment Outlook Report' for the fourth quarter on Tuesday said the positive higher hiring sentiment is driven by large scale enterprises (69 per cent), followed by medium (44 per cent) and small (39 per cent) businesses. The findings are based on a survey of 301 manufacturing companies across 14 cities in India. More than 60 per cent of employers in the manufacturing segment aim to recruit and expand their resource pool. The overall intent to hire for both the manufacturing and services sectors combined has grown to 68 per cent in the said quarter from 65 per cent in the third quarter, it said. "The global employment rate has increased considerably post the last Covid-19 wave and is poised to grow stronger in the coming quarters. With domestic demand increasing, despite stringent external conditions, the manufacturing industr

Ratio for manufacturing firms at 9-quarter low of 0.93%

Zetwerk's acquisition of Unimacts will provide the company with immediate access to marquee solar and wind-power customers

Chandrasekhar said India is well positioned to emerge as a major player in electronics and semiconductor products manufacturing as part of the 'China Plus One' diversification strategy

The new PLI schemes will likely cover segments like textiles, electronic components, furniture, toys and leather

Eveready Industries India Ltd on Friday said September quarter profit more than halved, hit by a charge related to a loan repayment and higher input costs