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Category: Economy

  • Unconditional Cash Transfers in India Cross ₹2.8 Lakh Crore, Rise 23 Times Over a Decade

    New report by Project DEEP calls for a national redesign of UCTs to make citizen welfare more inclusive, aspirational, and accountable

     India’s welfare economy has entered a transformative phase with Unconditional Cash Transfers now crossing ₹2,80,780 crore in allocations for FY 2024–25. This figure represents 0.9 percent of the national GDP and 11 percent of total social sector spending, surpassing programs like MGNREGA and the National Food Security Mission in financial scale.
    This insight comes from a comprehensive national report released by Project DEEP, titled Unconditional Cash Transfers in India: Tracing the Journey, Shaping the Future. The report evaluates over 70 central and state schemes and includes interviews with 21 policy and sector experts. It identifies a 23-fold increase in UCTs over the past decade, with monthly transfers becoming the dominant method of delivery. In 2024–25 alone, 32 such schemes are active, up from just nine in 2015–16. Seventy-one percent of the current UCT budget is now disbursed through monthly transfers.

    More than half of current allocations are directed toward women from low-income households, marking a significant shift toward gender-responsive welfare design. According to Pankhuri Shah, Co-Founder of Project DEEP, this shift is not just operational, it reflects a redefinition of welfare. “Cash transfers have moved beyond being emergency measures. They are now tools for financial security and long-term agency. But to fully realise their value, the design, delivery, and tracking of these schemes must evolve into a coherent, participatory model.”
    The report warns of persistent exclusions, particularly among informal workers, street-dwelling populations, trans persons, and others without formal identity data. It also highlights the wide variation in adequacy. Some schemes offer as little as ₹2,400 per year, while others reach ₹2 lakh. The pension under IGNOAPS is lower than a day’s wage under MGNREGA. These disparities weaken the transformational potential of UCTs, which remain fragmented and inconsistent in their current form.

    Muzamil Baig, Co-Founder of Project DEEP, stressed that India stands at a critical point. “We now have enough scale and data to redesign the UCT ecosystem with purpose. It is time to phase out schemes that no longer serve their objectives, and build a consolidated, rights-based, citizen-centric delivery system that fosters inclusion and resilience.”
    The report proposes a three-part roadmap. First, a national policy framework to consolidate fragmented UCT schemes across ministries and states. Second, redesign tools that intentionally link UCT amounts to adequacy standards, enabling a shift from survival support to long-term opportunity. Third, robust data and feedback systems with embedded impact evaluations to align policy with the lived experience of recipients.
    Project DEEP also cautions that cash transfers must complement, not replace, investment in public infrastructure such as schools, hospitals, and roads. Without strong public goods, UCTs risk becoming stopgaps instead of catalysts for economic participation and dignity.

    With pilots in five regions and field partnerships across multiple states, Project DEEP brings ground-up insights into policy rooms. The report offers the first consolidated national overview of cash transfers in India and establishes a shared agenda for states, civil society, and philanthropic actors to move toward durable, inclusive welfare.
    Project DEEP is India’s only dedicated policy organisation focused on cash-based welfare. Its mission is to strengthen per capita income growth for the bottom 20 percent through research, community pilots, and public policy innovation. Founded by Pankhuri Shah and Muzamil Baig, DEEP works at the intersection of grassroots evidence and national design frameworks.
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  • Gujarat to Karad: Two Industrial IPOs Strengthen BSE SME as Patel Chem and Shree Refrigerations List

    With ₹176 crore raised and a 31% premium on debut, the dual listings reflect momentum in India’s SME investment ecosystem across specialty chemicals and HVAC manufacturing

     The BSE SME Platform recorded two notable industrial additions as Patel Chem Specialities Ltd. and Shree Refrigerations Ltd. made their public market debut. With one headquartered in Ahmedabad, Gujarat, and the other in Karad, Maharashtra, both companies signal sectorally diverse momentum in India’s small and medium enterprise exchange segment.
    Patel Chem Specialities Ltd., promoted by Bhupesh Patel, Anshu Patel, and Vini Patel, manufactures cellulose-based excipients essential to pharmaceuticals, food processing, and cosmetics. The company’s IPO involved a fresh issue of 70 lakh equity shares at ₹84 per share, raising ₹58.80 crore. On listing, the stock opened at ₹110, marking a 31% premium over its issue price.

    Shree Refrigerations Ltd., led by Ravalnath Gopinath Shende, Rajashri Shende, and Devashree Vishwesh Nampurkar, specializes in HVAC systems and marine chillers. The company supplies refrigeration technology to sectors such as automotive, chemicals, media, and defence. Its IPO featured a combination of fresh issuance (75.61 lakh shares) and offer-for-sale (18.25 lakh shares) priced at ₹125 per equity share, aggregating ₹117.33 crore.

    Both companies closed their IPOs on July 29, 2025. Their listings as the 598th and 597th companies on the BSE SME Platform bring the total count closer to the 600 mark, underlining the SME board’s expanding industrial footprint across states and technologies.

    Patel Chem Specialities represents Gujarat’s growing footprint in chemical innovation, while Shree Refrigerations exemplifies Maharashtra’s evolving manufacturing supply chain connected to defence and maritime sectors. Their market entry reflects a wider trend of diversified small-cap participation across India’s equity landscape.
    For complete IPO information:

  • Asia Index Pvt. Ltd. Now Functions Under the BSE Index Services Name

    The move formalizes the company’s operational identity under BSE Ltd. and reinforces its role in maintaining India’s most referenced indices.

    Asia Index Pvt. Ltd., the firm responsible for designing and maintaining some of the country’s most tracked investment benchmarks, will now operate as BSE Index Services Pvt. Ltd. The change brings its name into full view of what’s long been true internally: the company is wholly owned and governed by BSE Ltd., India’s first stock exchange and the force behind the SENSEX.
    The update carries no disruption. Product frameworks, licensing models, and index methodologies remain exactly as they are. But the visibility improves. For institutional investors, index users, asset managers, and data vendors, the name now reflects the structure they already operate under.

    Managing Director and CEO Ashutosh Singh said the updated name was overdue. “Everything we deliver has always reflected BSE’s governance. This simply puts the name on it,” he said.
    The company will continue to offer indices used across exchange-traded funds, passive funds, structured notes, mandates, and benchmark-sensitive portfolios. Its catalog includes market-wide indices, sector compositions, thematic baskets, factor-weighted models, and debt market indicators.

    BSE Index Services Pvt. Ltd. also remains the authorized publisher and steward of the SENSEX, India’s original equity benchmark.
    BSE Ltd., the parent company, is globally recognized for its history and scale. With the largest number of listed companies worldwide, it also runs India’s most diversified marketplace, from equities and debt to mutual funds, derivatives, and corporate listings. The new naming clarity ensures that all parties using indices from this group know exactly who stands behind them.

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  • Mankind Pharma Reports ₹3,570 Cr Revenue in Q1FY26, Grows 24.5% YoY with 23.8% EBITDA Margin

    India’s fourth-largest pharma company posts strong domestic growth, 81.1% export surge, and 15% rise in consumer healthcare revenue led by flagship brands and new launches

     Mankind Pharma Limited (BSE: 543904 | NSE: MANKIND), India’s fourth-largest pharmaceutical company by revenue, has reported consolidated revenue of ₹3,570 crore for the quarter ended June 30, 2025, marking a year-on-year growth of 24.5 percent. The company’s EBITDA stood at ₹850 crore, translating into a margin of 23.8 percent, an improvement of 20 basis points over the same quarter last year.
    Mankind’s strong performance this quarter was led by its domestic formulation business, which contributed ₹3,101 crore in revenue, up 18.9 percent year-on-year. Its export segment also delivered a significant boost, growing by 81.1 percent to ₹469 crore, driven primarily by the consolidation of BSV and incremental gains in its base business.
    The company’s consumer healthcare vertical reported ₹237 crore in revenue, representing a 15 percent increase compared to the corresponding quarter last year. This growth was supported by robust performance from its leading over-the-counter brands such as Gas-O-Fast, Manforce Condoms, HealthOk, and Preganews, which registered secondary sales growth of 36%, 18%, 15%, and 12% respectively.

    Within the domestic pharmaceutical business, Mankind continued to outperform the Indian Pharmaceutical Market (IPM). Secondary sales grew by 9.2 percent versus the IPM’s 8.6 percent, with respiratory and anti-infective therapies delivering 17.8 percent and 9.1 percent growth, respectively. Chronic therapies also contributed to the outperformance, with cardiac and anti-diabetic portfolios expanding at 1.5x and 1.6x the IPM growth rate.
    The company’s market share rose to 4.9 percent as of June 2025, up from 4.8 percent in March, consolidating its leadership in physician prescriptions. Mankind has maintained the number one position in India by prescription share for eight consecutive years, currently holding a 15.4 percent share, as per IQVIA June 2025 data.

    Notably, the company also reported expansion in its e-commerce and modern trade (MT) channels. These accounted for 11 percent of consumer healthcare revenue in Q1FY26, compared to 9 percent in the same period last year, supported by approximately 50 percent YoY growth in digital and organised retail distribution.
    On the product innovation front, Mankind Pharma continues to scale its consumer health portfolio with new launches such as Epic ThinX (premium unflavored condoms), Nimulid in pain management, and OvaNews (ovulation detection kit), positioning itself to capture growth across lifestyle and wellness categories.
    Mankind’s financial data reflects both volume and portfolio expansion. Gross margins for the quarter stood at 70.5 percent, and PAT margin was 12.5 percent. Profit after tax came in at ₹445 crore, while diluted earnings per share (EPS) stood at ₹10.6.

    The company’s Q1FY26 performance was also notable in the context of sequential momentum. Compared to Q4FY25, revenue rose 15.9 percent, while EBITDA was up 24 percent. This suggests operating leverage coming into play, with continued margin discipline and revenue scale.
    The earnings call for Q1FY26 is scheduled on 1st August 2025 at 12:00 PM IST. Investors can access the call through the company’s designated universal access numbers or via Diamond Pass registration.
    As Mankind Pharma continues to deepen its footprint across therapeutic and consumer categories, its balanced growth across prescription-led, OTC, and global markets underscores its dual focus on domestic leadership and international scale.

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  • SMT Limited Moves Toward IPO With ₹1,024.88 Cr in FY25 Revenue and CE-Backed Innovations

    Founded by Dhirajlal Kotadia, the medical device firm leads India’s DES market and expands across 76 countries with patented tech and strategic acquisitions

    Sahajanand Medical Technologies Limited (SMT), a company anchored in precision-driven cardiovascular care, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to initiate its public listing on the BSE and NSE. The IPO is structured entirely as an offer for sale, comprising up to 27,644,231 equity shares of face value ₹1 each, offered by its promoters and institutional investors.
    Founded in 2001 by Dhirajlal Kotadia, SMT has steadily scaled its reputation in the Class III and Class C/D medical devices space, developing proprietary solutions in both vascular and structural heart intervention. As of March 31, 2025, the company has commercial presence in 76 countries and operates through a mix of direct subsidiaries and distributor-led models, particularly in Europe, Southeast Asia, and Latin America.

    The offer for sale includes equity shares from major stakeholders including Shree Hari Trust, Dhirajkumar Savjibhai Vasoya, Samara Capital Markets Holding Limited, Kotak Pre-IPO Opportunities Fund, and NHPEA Sparkle Holding B.V. Other notable shareholders include Plutus Wealth Management LLP and individual investor Ashish Kacholia.
    The IPO structure reserves a discount-linked subscription for eligible employees under the employee reservation portion, while the broader allocation follows the book-building format: not more than 50% to qualified institutional buyers (QIBs), a minimum of 15% to non-institutional investors, and at least 35% to retail investors.
    SMT’s product lineup spans coronary stents, coronary balloons, renal stents, trans-catheter aortic valves, occluders, and peripheral drug-coated balloons. Its flagship innovation, Supraflex Cruz, is a drug-eluting stent (DES) built with a biodegradable polymer and enhanced deliverability through SMT’s proprietary LDZ link. SMT is also credited as the first company globally to secure a CE certification for a biodegradable polymer DES.

    According to data from the F&S Report included in the DRHP, SMT holds a 25% market share in India’s DES segment as of CY2025, leading by volume. It is also ranked among the top five DES suppliers by volume in Germany, Spain, Poland, and Brazil. The company has also secured top-five placement in the occluders segment in India, Thailand, and South Korea.
    SMT has two R&D centers, one in India and another in Thailand, supporting a portfolio of 102 granted patents and 71 active patent applications worldwide, along with five design registrations in India. Following its acquisition of Thailand-based Vascular Innovations, SMT developed the Aortic Valve Delivery Catheter (AVDC) system for its Hydra TAVI product, further expanding its innovation capabilities.
    On the financial front, SMT reported revenue from operations of ₹1,024.88 crore in Fiscal 2025, a 13.67% increase from ₹901.60 crore in Fiscal 2024. This growth was attributed largely to strong device sales across Europe and the rest of the world, with particular momentum in the structural heart vertical. The company also posted a profit of ₹25.15 crore in FY25, a reversal from a loss of ₹7.35 crore in the previous fiscal year.

    Domestically, SMT operates through a hybrid distribution model, supplying devices to hospitals including Narayana Hrudayalaya Limited. In Europe, the company runs direct operations in Germany, Spain, France, and the United Kingdom. It has transitioned from distributor-led to direct models in Spain, following the acquisition of Imex, and now operates a hybrid model in Brazil through its acquisition of Zarek.
    SMT’s clinical credibility is reinforced by 72 clinical studies, of which 60 have been completed and 12 are ongoing. These trials span diverse geographies and patient populations, focusing on core offerings such as Supraflex Cruz, Hydra, Pipit, and Cocoon.

    The IPO is being managed by Motilal Oswal Investment Advisors Limited, Avendus Capital Private Limited, HSBC Securities and Capital Markets (India) Private Limited, and Nuvama Wealth Management Limited. MUFG Intime India Private Limited is acting as the registrar to the issue.
    SMT’s public issue positions the company to consolidate its leadership in the cardiovascular device space, deepen its reach across regulated international markets, and maintain its focus on research-led manufacturing. With India now crossing 50% non-fossil installed power capacity and medical infrastructure seeing increased capital flow, SMT’s timing aligns with broader themes of precision healthcare, regulatory maturity, and Make in India–backed innovation.
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  • Syngene Q1FY26: Revenue up 11%, PAT surges 59% as biologics and peptides scale

    Strong start to FY26 with ₹875 Cr revenue; USFDA clearance, 20+ audits, and peptide lab expansion underline quality-first strategy

    Bengaluru, 23 July 2025 ,  Syngene International Ltd. began FY26 with solid performance in the first quarter, reporting an 11% year-on-year increase in revenue from operations to ₹875 crore and a 59% surge in profit after tax (PAT) to ₹87 crore. The company’s reported EBITDA rose 19% to ₹224 crore, with margins improving to 25%.
    Operational Growth: Research Services and Biologics Power Q1 Momentum
    The strong financial delivery was driven by continued conversion of pilot programs into long-term contracts within the Research Services business and progress in biologics manufacturing. Syngene commenced operations at its new Unit III facility in Bengaluru and is advancing preparations to launch operations at its Bayview site in the United States later in the year.

    Peter Bains, Managing Director and CEO of Syngene International Ltd., stated:
    “We are pleased with the growth performance in the first quarter, which is aligned with our expectations. Continued conversion of pilot programs into longer-term contracts within our Research Services business was the main driver underpinning this momentum. We have also made progress in scaling biologics and expanding scientific platform capabilities with a new peptide lab.”
    Quality Milestones and Global Compliance
    In Q1FY26, Syngene successfully completed a USFDA Good Clinical Practices (GCP) inspection of its Human Pharmacology Unit with no observations. Its Biologics facility at Biocon Park received an Establishment Inspection Report (EIR) with a Voluntary Action Indicated (VAI) outcome.
    The company also concluded over 20 client and regulatory audits in the quarter, reinforcing its commitment to global compliance and operational transparency.

    Scientific Expansion: Peptides & Platform Synergies
    Syngene inaugurated a state-of-the-art dedicated peptide laboratory, enhancing its portfolio alongside monoclonal antibodies, Antibody-Drug Conjugates (ADCs), oligonucleotides, and PROTACs. Peptides are among the fastest-growing therapeutic modalities and strengthen Syngene’s integrated capabilities across development and manufacturing.
    Deepak Jain, Chief Financial Officer, commented:
    “This quarter’s revenue growth of 11% and improvement in EBITDA margins were driven by both topline momentum and cost optimization. We continue to maintain a robust balance sheet and will invest in technology to strengthen client offerings while staying focused on our annual guidance.”
    Recognition for Sustainability
    Syngene was named one of the World’s Most Sustainable Companies 2025 by TIME magazine and Statista. It ranked #1 in India’s pharma and biotech sector and within the top 20 globally in life sciences, chosen from a pool of over 5,700 organizations. This highlights Syngene’s strategic alignment with environmental stewardship and global ESG leadership.

    Upcoming Investor Call
    Syngene will host its Q1FY26 earnings call on July 24, 2025, at 12:15 PM IST, where senior management will discuss performance and outlook. Details for dial-in and webcast access are available on the company’s official website.
    About Syngene International Ltd.
    Syngene International Ltd. (BSE: 539268, NSE: SYNGENE) is a globally integrated research, development, and manufacturing services provider for pharmaceutical, biotech, nutrition, animal health, and specialty chemicals. With over 5,600 scientists and 2.5 million+ sq. ft. of infrastructure, Syngene supports 400+ clients including global leaders such as BMS, GSK, Zoetis, and Merck KGaA

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  • CMS Info Systems Q1FY26: Revenue up 5%, PAT up 3%, Vision AI play deepens

    Company secures ₹500 Cr in new orders, scales HAWKAI brand with Securens acquisition

    CMS Info Systems Limited, India’s largest business services firm in cash logistics and technology-led managed services, reported a stable Q1FY26 performance, with consolidated revenue rising 5% year-on-year to ₹627 crore and profit after tax (PAT) up 3% to ₹93.6 crore.
    The company continues to deepen its technology-led transformation with a binding agreement to acquire Securens Systems Private Limited, an AIoT remote monitoring pioneer, for a reported ₹80 crore. This move significantly strengthens CMS’s Vision AI vertical under its flagship HAWKAI brand, aiming to more than double its competitive lead in the surveillance and analytics segment.
    Segmental Performance: Stability in Cash Logistics, Investment in Managed Services

    • Cash Logistics revenue stood at ₹417 crore (YoY growth: 8%) with EBIT at ₹100 crore (YoY growth: 1%)
    • Managed Services & Technology Solutions, which includes Cards Services, delivered ₹258 crore in revenue (YoY growth: 8%) but saw EBIT decline by 11% to ₹36 crore

    Key Q1FY26 Highlights

    • ₹500 crore worth of new orders secured across segments
    • 153,000+ business touch points in the Cash Logistics vertical, a 9% YoY increase
    • Won ALGO MVS contract for ICICI Bank’s ATM software solutions
    • Strategic acquisition of Securens to deepen Vision AI and predictive analytics capabilities

    Rajiv Kaul, Executive Vice Chairman and CEO of CMS Info Systems, stated:
    “We grew topline by 5% and PAT by 3% in a seasonally weak quarter amid subdued consumption trends. We continue to focus on executing our order book while maintaining a stable business profile. With the Securens acquisition, our HAWKAI brand will scale to a market-leading position, more than 2X of its closest competitor.”

    Vision AI Expansion: From Cash to Code
    Securens Systems, ranked #4 in India’s AIoT RMS sector, brings advanced capabilities in intelligent surveillance, predictive compliance, and analytics-led security services. This acquisition positions CMS to serve clients across banking, retail, and e-commerce with a full-stack Vision AI platform.
    The integration of Securens’ stack into CMS’s ecosystem will allow cross-leveraging of AIoT surveillance with existing logistics infrastructure, accelerating HAWKAI’s reach and enabling real-time, tech-enabled compliance.
    Investor & Analyst Relations
    CMS Info Systems will host its earnings call on July 24, 2025, at 4:00 PM IST, with access via universal dial-in numbers and full materials to be published on the company’s official investor portal.

    About CMS Info Systems
    CMS Info Systems Ltd is India’s leading business services company providing logistics and technology solutions to banks, financial institutions, retail, and e-commerce sectors. Listed on the BSE and NSE (Ticker: CMSINFO), CMS operates across three verticals: Cash Logistics, Managed Services, and Technology Solutions. The company maintains a digital presence on LinkedIn, Instagram, Twitter, and Facebook under the handle CMS Info Systems.
    At Prittle Prattle News, we honor your dedication and inventiveness led by showcasing you in a positive light. Under the direction of Editor-in-Chief Smruti Bhalerao, our platform is committed to disseminating powerful narratives that raise awareness and motivate change. For more important stories, follow us on LinkedIn, Instagram, and YouTube.

  • Paytm Turns Profitable With ₹123 Cr PAT, Revenue Up 28% in Q1 FY26

    Merchant subscriptions hit 1.3 Cr; financial services revenue doubles; EBITDA at ₹72 Cr

     Paytm (One 97 Communications Limited) has reported a consolidated profit after tax (PAT) of ₹123 crore for the first quarter of FY26, marking a profitable quarter across all key financial metrics. Operating revenue surged 28% year-on-year to ₹1,918 crore, driven by growth in merchant subscriptions and distribution of financial services. The company posted an EBITDA of ₹72 crore and a contribution margin of 60%, underscoring the strength of its AI-led cost discipline and monetization strategy.
    Net payment revenue rose 38% YoY to ₹529 crore, bolstered by an increase in high-quality subscription merchants and better payment processing margins. Financial services revenue doubled to ₹561 crore, attributed to strong momentum in merchant loans, trail revenue from the Default Loss Guarantee (DLG) portfolio, and improved loan recovery performance.

    Merchant subscriptions reached an all-time high of 1.30 crore as of June 2025. Paytm continues to enhance operating efficiency through reduced capital expenditure on devices and improved sales team productivity. With AI embedded across its operations, the company has successfully optimized its technology stack to serve MSMEs and large enterprises alike.
    With a cash balance of ₹12,872 crore as of June 30, Paytm maintains capital flexibility to accelerate innovation in AI-first infrastructure, merchant services, and financial product expansion. The platform is India’s only full-stack, AI-powered omni-channel payments ecosystem, offering integrated hardware, software, and services.

    Paytm anticipates that more than 10 crore merchants will adopt digital payments in the near term, with 40-50% likely to require subscription-based business services—a segment where Paytm holds market leadership.
    As one of India’s earliest AI adopters in fintech, the company has integrated AI into merchant onboarding, transaction analytics, risk scoring, and customer support. This has helped unlock operating leverage, control direct expenses, and scale without proportionate cost increase.

    About Paytm
    Paytm is India’s leading mobile payments and financial services distribution company. As a pioneer of mobile QR payments in India, the company builds technologies that empower small businesses with seamless payments and commerce. Its mission is to serve half a billion Indians and integrate them into the mainstream economy through digital innovation.
    At Prittle Prattle News, we honor your dedication and inventiveness led by showcasing you in a positive light. Under the direction of Editor-in-Chief Smruti Bhalerao, our platform is committed to disseminating powerful narratives that raise awareness and motivate change. For more important stories, follow us on LinkedIn, Instagram, and YouTube.

  • Hindustan Zinc Posts ₹2,234 Cr Profit in Q1 FY26, Beats Estimates

    Q1 sees record mined metal, lowest zinc cost at $1,010/MT, and ₹4,225 Cr dividend declared

    Hindustan Zinc Limited (BSE: 500188, NSE: HINDZINC) reported a profit of ₹2,234 crore for the first quarter of FY26, surpassing analyst estimates. The company achieved its highest-ever Q1 mined metal production at 265 KT and recorded the lowest first-quarter zinc cost of production at US$ 1,010 per MT. The Board also approved an interim dividend of ₹10 per share, amounting to ₹4,225 crore, reinforcing Hindustan Zinc’s track record of delivering value.
    Revenue from operations stood at ₹7,771 crore, down 4% year-on-year, impacted by softer zinc and lead prices and lower volumes. However, gains from higher silver prices, improved by-product realizations, and a stronger US dollar helped cushion the topline. EBITDA for the quarter was ₹3,860 crore, reflecting a decline of 2% YoY, while maintaining an industry-leading EBITDA margin of approximately 50%.

    Profit after tax came in at ₹2,234 crore, down 5% from the previous year, with earnings per share of ₹5.29 and an effective tax rate of approximately 25%.
    Silver remained a significant contributor to the company’s profitability, accounting for 41% of total EBITDA. Silver sales stood at 1,427 MT during the quarter, supported by a 17% year-on-year surge in global silver prices to US$ 33.7/oz.
    Operationally, the company reported its highest-ever first-quarter mined metal production at 265 KT, up 1% YoY. Refined metal production was 250 KT, down 5% YoY, comprising 202 KT of zinc and 48 KT of lead. Sales of refined metal totaled 249 KT. Hindustan Zinc Alloys (HZAPL) reported its highest-ever quarterly production, pushing value-added product share to approximately 24%.

    The zinc cost of production improved by 9% YoY to US$ 1,010 per MT, supported by higher metal grades, greater reliance on domestic coal and renewable energy, and enhanced by-product recovery.
    The company’s balance sheet remained strong with cash and equivalents of ₹9,340 crore as of 30 June 2025. Total borrowings stood at ₹13,524 crore. Hindustan Zinc retains its AAA/Stable credit rating from CRISIL.
    Hindustan Zinc also secured critical mineral assets during the quarter, winning Potash and Halite blocks in Rajasthan and Rare Earth Element (REE) rights in Uttar Pradesh. Sustainability advances included achieving 3.32 times water positivity, increasing renewable energy usage to 19%, and initiating a ₹5 crore conservation project for the 400-hectare Baghdarrah Crocodile Reserve in partnership with the Department of Forest, Udaipur.
    Capital expenditure and strategic projects are on track, including:

    • Commissioning of the 160 KTPA roaster at Debari by mid-Q2 FY26
    • Completion of cellhouse debottlenecking at Dariba and Chanderiya by Q2 FY26
    • 510 KTPA fertilizer plant expected by Q1 FY27
    • Hot acid leaching technology for smelting waste recovery by Q4 FY26
    • Board-approved ₹12,000 crore expansion for a 250 KTPA smelting complex
    CEO Arun Misra stated, “Delivering our highest-ever Q1 mined metal production at the lowest-ever zinc cost reflects our relentless focus on operational efficiency. With strategic investments and secured mineral blocks, Hindustan Zinc is poised to become a multi-metal powerhouse.”
    CFO Sandeep Modi added, “Despite commodity headwinds, our structurally lean cost base and consistent performance enable us to deliver robust returns. The interim dividend and capital plan signal our commitment to long-term value creation.”
    The company also received several recognitions during the quarter:
    • Featured in Time Magazine’s World’s Most Sustainable Companies 2025 list
    • British Safety Council’s “Team of the Year Award”
    • ESG Risk Management Award at CNBC TV-18’s India Risk Management Awards
    • Three accolades at PeopleFirst HR Excellence Awards 2025
    At Prittle Prattle News, we honor your dedication and inventiveness led by showcasing you in a positive light. Under the direction of Editor-in-Chief Smruti Bhalerao, our platform is committed to disseminating powerful narratives that raise awareness and motivate change. For more important stories, follow us on LinkedIn, Instagram, and YouTube.

  • After Settling ₹3,859.81 Cr Debt, Ramky Infrastructure Executes REA With Lenders

    Debt-free status enables Ramky to enhance credit profile and accelerate growth

     Ramky Infrastructure Limited has completed the formal exit from its debt restructuring journey after executing a Restructuring Exit Agreement (REA) with its lenders. This follows the successful repayment of the entire restructured debt amounting to ₹3,859.81 crores. The company had entered into a Restructuring Agreement (RA) on June 12, 2015, involving term loans and working capital facilities.
    Ramky had settled all term loans by June 2019. On July 11, 2025, the company and its lending partners formalized the REA. This document confirmed that all obligations under the restructuring framework have been met. As a result, the lenders have reclassified all working capital facilities as regular and standard in their records.

    The conclusion of the REA positions Ramky Infrastructure to improve both internal bank ratings and external credit assessments. The company’s financials are now expected to reflect improved leverage metrics, opening opportunities for competitive financing and enhanced investor confidence.
    The REA brings an end to a decade-long restructuring chapter that began in 2015 when Ramky reorganized its debt in response to sectoral challenges. The company has since maintained a steady repayment track and financial discipline, culminating in the full closure of its obligations.
    Y.R. Nagaraja, Managing Director of Ramky Infrastructure Limited, expressed gratitude to the stakeholders who supported the process. He stated that this financial clean slate will help the company move forward with its core focus: delivering sustainable infrastructure solutions across India and key overseas markets.

    “We appreciate the patience and trust shown by our stakeholders throughout the restructuring period. This development strengthens our balance sheet and renews our capability to engage in complex, large-scale EPC projects,” Nagaraja said.
    Ramky Infrastructure is now operating with zero outstanding term loans. The company’s credit risk profile is likely to improve as a result, along with its eligibility for future government and multilateral infrastructure projects.
    Ramky Infrastructure Limited, part of the Ramky Group, is one of India’s established names in infrastructure development. Incorporated in 1994 and headquartered in Hyderabad, Telangana, the company has executed major engineering, procurement, and construction (EPC) projects across water treatment, waste management, roads, bridges, and urban infrastructure.

    With a professional team of more than 2,000 employees, Ramky operates both in India and international markets. It holds certifications under ISO 9001:2015 (Quality Management Systems), ISO 14001:2015 (Environmental Management Systems), and ISO 45001:2017 (Occupational Health and Safety).
    The financial restructuring and its closure highlight Ramky’s commitment to corporate governance, fiscal transparency, and long-term strategic planning. With no outstanding restructuring obligations, the company is positioned to realign its focus toward high-growth, impact-oriented infrastructure developments aligned with national priorities.
    The successful REA execution is also expected to reflect positively in its investor reporting and audit outcomes. With enhanced credit viability, Ramky may also pursue capital market activities and long-term funding options for upcoming projects.
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