Page 3 - Kumar Mangalam Birla

India will have a unique place in the global economy: Kumar Mangalam Birla

In his annual note, Birla listed five trends that will have a multi-year impact on the world

Aditya Birla Capital considering selling insurance brokerage unit

The publicly-traded company has held talks with potential buyers about a sale of Aditya Birla Insurance Brokers Ltd. as it failed to scale up the 19-year-old business

Would surpass Rs 21,000-crore revenue target by 2026: ABFRL chairman

Aditya Birla Fashion and Retail Ltd (ABFRL) is confident of fortifying its market position further and surpassing the projected revenue of Rs 21,000 crore by 2026, said its chairman Kumar Mangalam Birla on Monday. ABFRL is leveraging technology and its execution excellence to build a strong, profitable and future-ready brand portfolio, Birla told shareholders at the 15th annual general meeting of the company. "We had projected a revenue of Rs 21,000 crore for the year 2026 during our annual investor day held in March 2021. I am very confident that we will be able to surpass that target and set even higher milestones for the business going forward," he said. For the financial year ended on March 31, 2022, ABFRL's revenue stood at Rs 8,136 crore, recording a growth of 55 per cent. "The strong revenue recovery resulted in improved profitability over the previous year. Several initiatives encompassing cost management, supply chain optimisation and smart procurement were taken up by the

Despite headwinds from Ukraine war, India exhibits many bright spots: Birla

Despite global headwinds due to the ongoing Russia-Ukraine war and lingering post-pandemic challenges, the Indian economy has some "bright spots" to help sail through the choppy waters, industrialist Kumar Mangalam Birla said on Friday. Addressing shareholders of Aditya Birla Capital Ltd (ABCL) at the company's Annual General Meeting (AGM), Birla said the turn of the decade felt like a "moment of departure", making 2020 an unprecedented year marred by the pandemic, followed by supply side woes of 2021 and then the Russia-Ukraine war in 2022. Global stagflation is making 2022 feel unprecedented and disruption now feels like 'business as usual', Birla noted. "The Indian economy has not remained unscathed by these global developments. India has also witnessed upward pressures on inflation, rate hikes by the RBI and a widening trade deficit. We are also seeing greater turbulence in currency markets," said Birla, chairman of Aditya Birla Group's financial services arm ABCL. Nevertheless

Hindalco Industries earmarks about $8-bn capex over next 5 yrs: K M Birla

Hindalco Industries Chairman Kumar Mangalam Birla on Tuesday said the company has earmarked a total capital expenditure of about USD 8 billion over the next five years in its arm Novelis and India. Novelis has found potential investment opportunities of USD 4.5 billion. Birla was speaking at the Hindalco's AGM. He said the company has identified potential investment opportunities of nearly USD 3 billion in India. Birla further said that 70 per cent of the company's consolidated cash flows will be allocated towards high-growth downstream segments , including EVs, mobility, batteries and Consumer durables. "On the back of solid financial performance and a strong balance sheet, your company is well-positioned to drive a new wave of transformational growth fuelled by organic expansion." The company plans to achieve a renewable capacity of 300 MW by FY'25, including 100 mw solar power capacity with hybrid storage.

Value of human creativity growing exponentially along with tech: K M Birla

Even as the use of technology is growing in life and industry, the value of human creativity is growing even more exponentially, Aditya Birla Group Chairman Kumar Mangalam Birla said on Saturday. "We are entering a high-tech and high-touch world. As the application of technology is growing in life and industry, the value of human creativity is growing even more exponentially. I would argue that the value of human touch and empathy is directly proportional to the growth of technology," Birla said while addressing the convocation of the Indian Institute of Technology, Bombay. He said that over the coming decade technologists, industrialists, politicians and citizens alike will need to grapple with some existential questions. "For instance, the question of drinking water - 3/4th of the earth is water, and yet we are grappling with problems of drinking water. Similarly, the question of clean energy adequacy... we in India have sunshine, yet we are energy deficient," he added. The bigge

ABFRL looking at FY23 with cautious optimism, says Kumar Mangalam Birla

'The Indian economy is headed towards a steady recovery and as the vaccination drives progress, consumers are expected to get back to shopping with renewed confidence'

India to be fastest-growing economy, engine of global growth: Birla

The economic activity in India has witnessed a sharp recovery to pre-pandemic levels on the back of a rapid and widespread rollout of the vaccination programme, Birla said

Grasim enters B2B e-commerce in building materials, to invest Rs 2,000 cr

Investment adds new high-growth engine within Grasim's standalone businesses and of its associate cos; firm is spending Rs 10,000 cr in new paints business, will launch products by early 2024

Gautam Adani faces off against Kumar Mangalam Birla over cement in India

Kumar Mangalam Birla comes from old money, unlike Adani, a first-generation entrepreneur

As competition hots up, UltraTech Cement to invest Rs 12,886 cr in capex

This ambitious capacity expansion plan is a significant milestone in the ongoing transformational growth journey of UltraTech, says Kumar Mangalam Birla, chairman, Aditya Birla Group

Supply chain challenges can be met by exploring other markets: Birla at WEF

He was speaking during a session on 'Balancing globalisation and resilience in a time of crisis' at the World Economic Forum Annual Meeting 2022.

India at WEF 2022: Day-wise itinerary of Indian representation at Davos

Here is a list of all the events at WEF 2022, Davos that will be attended by Indian ministers, CEOs, and corporate honchos

Birla's Hindalco Industries plans $2.5 billion US aluminium recycling mill

The new facility will increase Novelis's, unit of Hindalco, recycling capacity to 90 billion cans globally, from 74 billion currently

"Buyer beware": Wadia issues public notice against Century's realty project

Century doesn't own 30 acres of land in Worli, it claims to own, says Nusli Wadia in public notice

Cash flows and margins to guide start-ups, says Kumar Mangalam Birla

Competition for investment & FOMO have pushed up valuations, he says

Tangible profits make biz sustainable: Birla amid high valuation of cos

The Chairman of the USD 44-billion Aditya Birla Group also said that ultimately unit economics will have to matter.

TiE names Kumar Mangalam Birla as Global Entrepreneur of the year

The Aditya Birla Group Chairman is the first Indian industrialist to get the award. He won it for his leadership of the conglomerate during the Covid-19 pandemic

Ease of doing biz, bank sector support will boost telecom industry: Birla

Aditya Birla Group holds over 27 per cent stake in VIL, while Vodafone Plc has more than 44 per cent in the telecom operator

Kumar Mangalam Birla predicts 'Decade of Capex Mahotsav' for India

Hails a few unicorns in start-up space but says he see 'bubbles in some places'; rues loss of Hindustan Zinc