Mumbai/Ahmedabad, May 19, 2025: Ice Make Refrigeration Limited , a leading manufacturer of 50 plus commercial and industrial refrigeration equipment, has reported strong financial results for the fourth quarter and full year ended March 31, 2025.

Financial Highlights

For the quarter ended March 31, 2025 (Q4 FY25), the company reported consolidated revenue from operations of ₹180.82 crore, marking a robust 26.76% year-on-year increase from ₹140.14 crore in Q4 FY24. This is a 29.02% quarter on-quarter sequential growth.  EBITDA for the quarter stood at ₹21.85 crore, compared to ₹20.93 crore in the same period last year.

However, EBITDA margin softened to 12.08% from 14.93% on account of higher input costs. Profit after tax (PAT) for the quarter was ₹11.66 crore, down from ₹14.27 crore in Q4 FY24, while earnings per share (EPS) stood at ₹7.42 versus ₹9.06 in the previous year’s corresponding quarter.

For the full financial year ended March 31, 2025 (FY25), Ice Make achieved consolidated revenue from operations of ₹480.42 crore, an increase of 26.76% year-on-year compared to ₹379.00 crore in FY24. The company reported EBITDA of ₹43.44 crore in FY25, up from ₹41.39 crore in FY24, although the EBITDA margin slightly declined to 09.04% from 10.92%. The full-year PAT stood at ₹22.90 crore as against ₹26.14 crore in FY24, with a corresponding EPS of ₹14.65 compared to ₹16.64 a year earlier.

The Board of Directors has recommended a final dividend of ₹2.25 per equity share (22.5% of face value ₹10), subject to shareholder approval at the upcoming AGM.

Management Commentary

“We are pleased to report a strong close to the year, with a 64% sequential revenue growth in Q4 FY25, demonstrating the strength of our underlying business and recovery in order execution. While we delivered robust revenue growth during FY2025, reaching nearly ₹480 crore, we narrowly missed our internal milestone of ₹500 crore due to delayed execution of certain product order in the 1^st 9 months of FY25. These delays, along with the timing mismatch of input costs already accounted for, impacted full-year profitability. Despite these headwinds, our operations remained resilient, supported by our strategic investments in innovation, capacity expansion, and a customer-centric approach. We also saw continued momentum in our commercial and industrial refrigeration verticals, including ammonia refrigeration and cold chain solutions. The Board’s recommendation of a final dividend reflects our unwavering commitment to long-term shareholder value and sustainable growth.”— Mr. Chandrakant Patel, Chairman & Managing Director

Mumbai, May 19, 2025: The 44th edition of the Knight Frank – NAREDCO Real Estate Sentiment Index Q1 2025 (January–March 2025) report reflects a cautiously optimistic mood among real estate stakeholders. The Current Sentiment Score in Q1 2025 dipped slightly to 54 from 59 in Q4 2024, down from 59 in Q4 2024, while the Future Sentiment Score eased to 56, compared to 59 in the previous quarter. Though both scores, remain in the optimistic zone, signal growing stakeholder caution amid global trade tensions, economic recalibration, and regional volatility. Despite this, positive momentum in commercial real estate and sustained activity in high-value residential segments continue to support sentiment resilience. According to the survey findings, residential outlook leans toward stability amid cautious launch plans. In Q1 2025, 93% of stakeholders expect residential prices to remain stable or improve, while 67% anticipate stability or growth in new launches. Residential sales sentiment, however, has moderated with only 50% expecting it to either improve or stay the same compared to 88% in Q1 2024.

The office segment remains a bright spot, supported by robust leasing activity and stable rental growth. In Q1 2025, 82% of stakeholders anticipate office leasing volumes to either hold steady or increase, while 91% expect office rents to remain stable or rise—signalling sustained occupier confidence and healthy demand.

The quarterly Knight Frank-NAREDCO Real Estate Sentiment Index report captures the current and future sentiments towards the real estate sector, as well as economic conditions and funding availability as perceived by the supply-side stakeholders and financial institutions. A score of 50 represents a neutral view or status quo; a score above 50 demonstrates a positive sentiment; and a score below 50 indicates a negative sentiment.

Sentiments of Developers and Non-Developers

The Developer Future Sentiment Score dropped to 53 in Q1 2025 from 58 in Q4 2024, as developers recalibrate supply strategies amid slowing low to mid ticket size segment demand in the residential sector and rising costs.

The Non-Developer Future Sentiment Score (including banks, financial institutions, and PE funds) moderated to 57 from 60, reflecting a wait-and-watch approach on capital deployment, while remaining optimistic on office and high-ticket size residential segments.

Shishir Baijal, Chairman and Managing Director, Knight Frank India, said, “Q1 2025 marks a phase of strategic recalibration for the real estate sector, shaped by evolving global trade dynamics, softening consumption, and heightened geopolitical sensitivity. Despite these shifts, India’s office market remains resilient, and the continued strength of the premium residential segment affirms the sector’s underlying robustness. As macroeconomic indicators adjust, real estate is displaying its capacity to adapt with stability and long-term potential.”

“Residential market outlook

The residential sentiment in Q1 2025 reflected a clear shift toward stability and cautious optimism. While overall enthusiasm has moderated compared to the highs of 2023 and early 2024, the market continues to show resilience, particularly in higher ticket size segments. Only 22% of stakeholders expect residential sales to increase, marking a notable decline from 73% in the same period in last year. This softening is driven by moderation in demand within the mid and lower ticket-size segments, where affordability concerns and truncated supply led to demand deceleration.

Launch activity has also moderated, with 28% of stakeholders anticipating an increase and 39% expecting stability. Price sentiment remains largely positive, with 93% of stakeholders expect prices to either rise or stay stable. The share of those anticipating a price increase stands at 50%, compared to 82% in Q1 2024, suggesting a shift away from aggressive price growth toward a more measured and sustainable pricing environment.

Hari Babu, President-NAREDCO, said, “While the Knight Frank Q1 2025 Sentiment Index shows a marginal decline in both current and future sentiment scores compared to Q4, this slight dip amidst global uncertainties reflects the strength and adaptability of India’s real estate sector. The industry continues to move forward with optimism and long-term conviction.

The Indian real estate sector is showcasing robust performance in the commercial segment, driven by the demand from Global Capability Centres (GCCs) and tech-enabled enterprises — reaffirming India’s growing stature as a global business hub. On the residential front, developers are adopting a more mature, demand-led approach by focusing on high-ticket projects while rebalancing supply in the mid and affordable segments.

This is a sign of steady evolution. We see this as a phase of mindful progress, where Indian real estate is not just expanding, but doing so with greater purpose and prudence. Government-led infrastructure development and the expansion of real estate in Tier 2 and 3 cities will continue to support the sector. Additionally, the recent repo rate cut by the RBI has boosted liquidity and improved buyer sentiment, giving further momentum to the industry. We remain confident in the sector’s potential and its pivotal role in India’s economic journey.”

Office market outlook

The office sector continued to display strength in Q1 2025, backed by robust occupier demand and rental resilience. 82% of stakeholders expect leasing activity to either increase or remain stable, driven by sustained expansion from Global Capability Centres, third party IT services firms, and flex space operators. While only 24% foresee an increase in new office supply, 41% anticipate stability, reflecting developers’ calibrated approach amid high office space absorption. Rents remain on a firm footing, with 91% of respondents expecting them to stay stable or rise.

In Q1 2025, 55% of stakeholders expect economic momentum to either improve or remain stable, down from 91% in the same period in last year. The moderation reflects concerns over global trade volatility, and recent cross-border developments. However, the Reserve Bank of India’s consecutive repo rate cuts in February and April are expected to support consumption and investment, providing a foundation for economic recovery in the months ahead.

Funding sentiment remains steady, with 79% of stakeholders expecting availability to either improve or remain unchanged. While 35% foresee improved access, slightly lower than the previous quarter, the recent rate cuts have enhanced liquidity and reduced borrowing costs.

Mumbai, May 19, 2025: Vietnam’s leading new-age airline Vietjet and Boeing have announced an agreement to transfer up to 50 Boeing 737 aircraft to Vietjet Thailand—marking a strategic initiative to strengthen aviation and tourism connectivity between Thailand, Vietnam, as well as other countries in the region. The signing ceremony took place in the presence of Vietnam’s Prime Minister Pham Minh Chinh and Thailand’s Prime Minister Paetongtarn Shinawatra during the latter’s first official visit to Vietnam.

Under the agreement, Vietjet will allocate 50 aircraft from its existing order of 200 Boeing 737s to Vietjet Thailand. The first deliveries are scheduled for October 2025. This move will significantly expand Vietjet Thailand’s domestic and international flight network, particularly enhancing connections between Vietnam and Thailand.

“We are pleased to partner with Vietjet and Vietjet Thailand to expand Boeing 737 operations in Vietnam and Thailand,” said Penny Burtt, President of Boeing Southeast Asia. “Together, we aim to connect communities and drive economic development, paving the way for a prosperous future in Vietnam and the dynamic growth region that is Southeast Asia.”

Nguyen Thi Phuong Thao, Chairwoman of Vietjet, stated at the event: “The transfer of 50 modern and efficient Boeing 737-8 aircraft to Vietjet Thailand demonstrates our long-term commitment to sustainable aviation development in the region. We are determined to implement the ‘Three Connects’ Strategy between the two countries – encompassing supply chains, businesses, and localities.”

As part of the agreement, Boeing will also provide Vietjet Thailand with comprehensive technical support, including pilot, maintenance and engineer training, and product services—ensuring the safe and efficient operation of the new fleet in Thailand.

This new agreement marks a new milestone in the robust and effective cooperation between Vietnamese, Thai, and U.S. enterprises, with shared priorities in digital transformation, sustainable development, and narrowing development gaps among member states.

Vietjet currently operates 10 India-Vietnam routes, offering a total of 78 flights per week—making it the airline with the most extensive flight network between the two countries. These routes connect New Delhi, Mumbai, Ahmedabad, Kochi, Hyderabad, and Bengaluru with Vietnam’s key destinations, including Ho Chi Minh City, Hanoi, and Da Nang.

Vietjet Thailand, established in 2014, is a new-age joint venture airline of Vietjet in Thailand, symbolizing the success of ASEAN aviation economic cooperation. Over more than a decade of development, Vietjet Thailand has continuously expanded its fleet and flight network, becoming one of the most dynamic airlines in the Thai market—highly regarded by both local passengers and international travelers in the Land of Smiles.

Headquartered at Suvarnabhumi Airport (Bangkok), Vietjet Thailand currently operates 33 domestic and international routes, connecting Thailand’s economic and tourism hubs with Vietnam, Japan, China, India, Cambodia, and other destinations across the region. The airline has served more than 30 million passengers, making significant contributions to tourism, trade, and ASEAN regional cooperation, particularly between Vietnam and Thailand.

Mumbai, 19 May, 2025: Tata CLiQ Luxury, India’s premier luxury lifestyle platform, has launched a social media campaign featuring Twinkle Khanna, author, entrepreneur, fomer actor, and columnist, as a part of The Big CLiQ Sale, which has never-seen-before offers on leading premium and luxury global and Indian brands. The video captures Twinkle Khanna‘s candid shopping confessions, like the FOMO frenzy, the cart abandonment anxiety, luxury justification syndrome and the feeling of her house turning into a warehouse with all the open delivery boxes lying around.

With her signature sass and effortless elegance, the video showcases Twinkle indulging in an unfiltered shopping spree. She admits that while sale season is the best time to shop, no one ever told her how to do it, so, naturally, she did everything wrong. What follows is a series of shopping confessions she might never live down. Blending humour and relatability, she highlights that while she may have gone a bit overboard, it’s the little bit of drama that makes shopping more thrilling. The video wraps with Twinkle inviting shoppers to channel their inner drama and indulge in extravagance at The Big CLiQ Sale by Tata CLiQ Luxury, as it’s the perfect time to shop given there are no limits and no rules, just great finds!

With up to 50% off, shop from leading premium and luxury global and Indian brands across categories like apparel, beauty, accessories, footwear, home, jewellery, watches, and more only at Tata CLiQ Luxury’s The Big CLiQ Sale, which is on till May 27, 2025.

Chennai, 19^th May, 2025 – Organic India has been delighting consumers for over 25 years with its authentic organic products. The Organic India brand is widely recognized as a pioneer in offering organic products in India, including the launch of Tulsi Green Tea and a unique assortment of herbal infusions featuring exotic ingredients like Hibiscus and Chamomile, as well as supplements made with real, whole herbs. 

Organic India sources high-quality ingredients directly from thousands of farmers, creating a positive impact on both their livelihoods and the planet through eco-friendly farming practices.  

In 2024, the brand was acquired by Tata Consumer Products (TCPL) to strengthen its health and wellness portfolio. This acquisition is expected to significantly expand Organic India’s distribution by leveraging TCPL’s extensive retail footprint across India and globally.

Organic India has now partnered with legendary cricketer Sachin Tendulkar, a global icon known for his dedication, authenticity, and consistency in a career spanning over 25 years. His determination to excellence and integrity mirrors with the brand’s unwavering commitment to deliver high-quality, trusted, organic products. With this natural alignment of shared values and vision, Organic India aims to deepen consumer trust, inspire brand love, and reinforce its position as a pioneer and one of the most trusted organic brands in the country.  

Organic India focuses on sustainable living with a wide range of offerings in Herbal Supplements, Tea & Infusions, and Organic Packaged Foods in the health and wellness space.

Chennai, May 19, 2025: IndusInd Bank today announced that it has signed a Memorandum of Understanding (MoU) with AIC STPINEXT, a special purpose vehicle of Software Technology Parks of India (STPI) under the Ministry of Electronics and Information Technology (MeitY). This partnership is designed to provide early-stage start-ups and MSMEs with essential financial solutions, mentorship, and structural support, leveraging the combined strengths of both organizations to nurture innovation and sustainable growth.

Under this collaboration, IndusInd Bank will deliver a range of tailored banking solutions to support early-stage start-ups associated with STPI/STPINEXT, empowering them at every stage of their journey. The Bank will offer a specialized Current Account product with no quarterly average balance requirement, making it easier for start-ups to manage their finances.

Additionally, the Bank will offer support such as expert guidance, and conduct workshops around financial management including banking basics, equity infusion, ESOPs, segment-based funding etc. To further support operational efficiency, the Bank will offer payroll and attendance management services to early-stage start-ups at no cost.

This MoU reflects the shared commitment to empower start-ups and accelerate entrepreneurship by providing the right resources, mentorship, and financial tools needed for sustainable growth. Together, both organizations aim to build a vibrant ecosystem where new ideas can thrive and contribute to the nation’s progress.

A graduate in entrepreneurship from NMIMS and an alumnus of Harvard Business School’s Mumbai course, she fuses business acumen with creativity. Her approach to design is grounded in minimalism, functionality, and contemporary aesthetics. A strong believer in the subtle power of fabrics to give meaning to spaces, Ina draws on neutral tones and timeless textures to create spaces that resonate with discerning buyers. She truly brings D’Decor’s credo of “Live Beautiful” to life by unleashing new design possibilities through global trend forecasts, integration of indigenous art forms like Kantha and Kalam Kari, and technological experimentation through cutting-edge softwares. 

Under Ina’s creative direction, D’Decor’s catalogue has scaled to over 20,000 SKUs and Sansaar’s to over 1,500 SKUs. She has conceptualised and developed cohesive collections across a wide range of verticals, including rugs, bedding, and trimmings – each one rooted in storytelling, informed by meticulous research, and underpinned by material innovation. Most notably, the brands’ brand-new collections of biodegradable upholstery are the brainchild of Ina Arora.

Beyond product, Ina champions an inclusive, healthy workplace – introducing women-centric policies such as maternity benefits, flexible weekends for young mothers, and a Sexual Harassment Committee, while also heading D’Decor’s CSR efforts to give back to the community.

With a rare blend of creative intuition and strategic foresight, Ina Arora has established herself as a force to reckon in the furnishings industry. Her ability to balance aesthetic integrity with commercial impact, while nurturing a culture of empathy and innovation, sets her apart as not just a product head, but a catalyst for meaningful change.