Eco Hotels Collaborates with Renowned Artist Neena Singh to Redefine Interior Design

Mumbai, January 29th, 2025: Eco Hotels and Resorts Ltd, a BSE-listed company promoted by Eco Hotels UK PLC, London, is proud to announce a collaboration with renowned contemporary and abstract artist Neena Singh. As part of the commercial arrangement, her stunning artwork will now grace the walls of hotels operated by Eco Hotels, adding an artistic dimension to their properties.

Eco Hotels has recently entered the hospitality sector with ambitious expansion plans and is set to alter the hospitality model. Known nationally and internationally for her vibrant and beautiful abstract paintings, Neena Singh’s art has gained recognition at several prestigious forums, including the BIAFARIN Award 2022 in Canada, the Silver Medal at GZ-Arts, Basel Art Fair 2012 in Switzerland, and the Talent Prize Awards at Teravarna Gallery, USA. She also received an Honourable Mention at the 13th Edition International Contest by ITSLIQUID GROUP, London.

Singh’s works have been featured in Woman’s Essence – The Woman of Contemporary Art, curated by Natalia Gryniuk, and Art Folio 2022, a prestigious collection showcasing some of the world’s most exciting artists, selected by an international jury of museum curators, art consultants, and collectors. Nationally, her art is part of esteemed collections including the Lalit Kala Academy in New Delhi, RPG Art Collection, JSW Foundation, and the VIP Lounge at Delhi Airport. Singh has also garnered recognition from notable collectors, including Ms. Pheroza Godrej. A former civil servant, she has spent over two decades passionately pursuing her art, becoming a prominent figure in the world of contemporary and abstract painting.

Commenting on this collaboration, Neena Singh said, “I’m very excited that my creative work, which has found a place in corporate offices, ministries, and luxury residences, is now being recognised by the growing hospitality sector. To see my abstract paintings enhance hotel spaces is an exciting new chapter. It’s also a unique opportunity to bring my work to a diverse audience, and I look forward to contribute to creating inviting and inspiring environments for guests through my work.”

In its inaugural year, Eco Hotels and Resorts Ltd has already launched ‘EcoValue Kochi.’ The company is well-prepared to open ‘EcoXpress Satva,’ Nagpur and ‘The Eco Satva,’ Kotaby the second week of February 2025. Additionally, hotels in Aurangabad, Baroda, Mysore, Bangalore, and Shirdi are undergoing refurbishment. Neena Singh’s artworks will be featured in all of these properties, further enhancing their charm and creating unique experiences for guests.

JSW Infrastructure announces Q3 FY25 results

Chandigarh, 29 January 2025: JSW Infrastructure Limited (the “Company”), a part of the JSW Group and India’s second-largest private commercial port operator, today announced its results for the third quarter and period ended 31st December 2024.

Key Highlights for Q3 FY25

  •  Revenue of ₹1,265 Crore, up 24% YoY
  •  EBITDA of ₹670 Crore up 20% YoY
  •  PAT of ₹336 Crore up 32% YoY
  •  Strong Balance Sheet, well positioned to pursue growth

 Net Debt to EBITDA (TTM*) of 0.4x

 Cash and Cash equivalents of ₹4,845 Crore

Consolidated Financial Performance Q3 FY25

During the quarter, the Company handled cargo volumes of 29.4 million tonnes which is higher by 5% over the last year. The volume increase was driven by the increased capacity utilisation in the coal terminal at Paradip, contribution from PNP port and Liquid Storage Terminal, UAE. The growth was partially offset by lower cargo volumes in the Iron Ore terminal at Paradip.

The increase in the third-party volume was stronger with 31% year-on-year growth and the share of Third Party in the overall volumes stood at 49% vs 39% a year ago.

The higher volume and integration of the recently acquired Navkar Corporation translated to 24% year-on-year growth in the total revenue which stood at ₹1,265 Crore. EBITDA increased to ₹670 Crore (+20% yoy) with a robust margin of 52.9%. Consequently, PAT stood at ₹336 Crore, reflecting a growth of 32%.

Key Business update

  •  Overall Capacity enhancement to 174 mtpa from 170 mtpa

 Mangalore Coal Terminal: The cargo handling capacity increased to 8.1 mtpa, from 6.7 mtpa.

 PNP port: The capacity increased to 8mtpa from 5mtpa on the back of dredging activities while the Environmental Clearance (EC) is in place for 19mtpa.

  •  Interim operations commenced at JNPA (Liquid Terminal): At JNPA, the company obtained approval from the relevant authorities to commence interim operations. It handled nearly 90,000 tonnes of liquid edible oil during November and December 2024. Similar efforts are underway to secure approvals for interim operations at the Tuticorin Dry Bulk Terminal.
  •  Low Risk on ESG: The global ESG risk rating agency, Morningstar Sustainalytics, has rated JSW Infrastructure Limited as “Low Risk” on ESG. This rating from a globally regarded agency confirms our belief, ability, and commitment to manage ESG risks as part of our overall business strategy.

Growth Strategy

As previously announced, the company has embarked on a growth plan to increase its cargo handling capacity to 400 million tonnes per annum (mtpa) by FY 2030 or earlier, up from the current capacity of 174 mtpa. To achieve this, it has outlined a comprehensive capital expenditure (capex) plan of ₹30,000 crores.

Additionally, the Company has increased its total capex guidance to ₹39,000 crores, with an additional ₹9,000 crores earmarked for expanding its logistics segment. This expansion aims to build on the Navkar acquisition to develop a robust pan-India logistics network for last-mile connectivity.

The Company is targeting a top line of ₹8,000 crores for its logistics segment, with a 25% EBITDA margin, resulting in industry-leading Return on Capital Employed (ROCE). With a strong balance sheet, the Company is well-positioned to pursue both organic and inorganic growth without compromising its leverage ratios.

Hexnode UEM Gets Smarter with Genie: AI-Driven Script Generation and Troubleshooting

Scripting has emerged as a powerful tool for automating processes and improving operational efficiency. However, it also presents challenges for IT admins. Managing a diverse set of devices while simultaneously developing and maintaining scripts can be time-consuming and error prone. To address these challenges, Hexnode introduced Hexnode Genie, an AI-powered assistant integrated within the Hexnode UEM.

Genie allows IT admins to easily generate custom scripts in PowerShell, Bash, Shell, or Python using simple natural language prompts. Additionally, Genie provides real-time chat assistance, improving troubleshooting and enhancing operational efficiency.

Script in Seconds
As IT environments grow more complex and work becomes more distributed, IT admins are under constant pressure to manage an increasing number of tasks quickly and efficiently. Managing a diverse range of devices, ensuring security compliance, and addressing urgent service requests all contribute to a heavy workload. Faced with these demands, IT teams often struggle to keep pace with the need for automation, relying heavily on manual scripting methods that are not only time-consuming but also prone to errors.

With Hexnode Genie, IT admins can generate customized scripts for Windows and macOS devices in mere seconds using simple natural language prompts, suiting the user requirements specified in the portal. This AI-powered tool eliminates the need for extensive coding knowledge, offering a low-code solution that empowers teams to automate repetitive tasks easily.

Genie also allows users to edit and adjust the generated scripts using the built-in script editor to suit their specific needs, ensuring each script meets their organization’s unique requirements. Beyond customization, admins can validate their scripts with Genie to ensure they will run as expected, saving time and avoiding errors.

AI chat assistant
Hexnode Genie isn’t just a powerful script generator; it’s also a real-time chat assistant that allows admins to troubleshoot more efficiently. Seamlessly integrated within the Hexnode UEM console, Genie is designed to provide instant assistance across a wide range of queries, ensuring that support is always readily available for device management.

Hexnode Genie provides extensive support through quick references to help documentation, detailed explanations of its features, step-by-step guidance, and troubleshooting assistance, thus reducing downtime for IT admins. In instances where queries remain unresolved or require further clarification, users have the option to engage directly with Hexnode’s live technical support team.

What’s next for Hexnode Genie
As Hexnode Genie evolves, it is set to improve its features, especially in policy recommendations and customized reports. By analyzing each organization’s requirements and comparing them to industry best practices, Genie will be able to suggest optimal policy settings tailored to each unique environment. Admins can also generate custom reports with natural language queries.

MapmyIndia Q3 FY25 Revenue grew 24.5% YoY and EBITDA grew 15.7% YoY

New Delhi, India, 29th January 2025: C.E. Info Systems Ltd. (“MapmyIndia”), India’s leading advanced digital maps and deep-tech products and platforms company, announced today its financial results for the Third Quarter and Nine months of FY2025 ended on 31st December 2024.

Financial Highlights for Q3 and 9M FY25:

Particulars (Rs Cr) Q3 FY25 Q3 FY24 YoY % Growth 9M FY25 9M FY24 YoY % Growth
Revenue from Operations 114.5 92.0 24.5% 319.7 272.5 17.3%
Total Income 123.9 103.6 19.6% 348.8 298.3 16.9%
EBITDA 41.7 36.0 15.7% 122.0 114.4 6.7%
EBITDA Margin (%) 36.4% 39.0% 38.2% 42.0%  
PAT 32.3 31.1 4.0% 98.6 96.2 2.5%
PAT Margin (%) 26.1% 30.0% 28.3% 32.0%  
Cash & Cash Equivalents (including financial instruments) 603.8 516.1 603.8 516.1  

Commenting on the Q3 and 9M FY25 results, Rakesh Verma, Chairman & Managing Director, MapmyIndia, said “In Q3 FY25, we successfully operationalized the joint venture with Hyundai Autoever in Indonesia, marking an important step in expanding our global footprint. As part of our long-term strategy, both the Mappls App and the Mappls brand will continue to be the integral part of the organization.

On the financial front, our revenue for Q3 FY25 reached ₹115 crore, showing a 25% YoY growth. Over the first nine months of FY25 (9M FY25), our revenue grew to ₹320 crore by 17%, up from ₹273 crore during the same period last year.

In terms of profitability, our EBITDA for Q3 FY25 was ₹42 crore, yielding a margin of 36%, compared to ₹36 crore in Q3 FY24 at 39%. For the first nine months of FY25, our EBITDA stood at ₹122 crore, with a margin of 38%, as compared to ₹114 crore and 42% margin recorded in the same period last year. We will continue to prioritize the Mappls App as a key strategic asset while we will calibrate the costs associated from Q4 onwards. Our Profit After Tax (PAT) for the first nine months of FY25 was ₹99 crore, up from ₹96 crore in 9M FY24.

In Q3 FY25, Consumer Tech & Enterprise Digital Transformation (C&E) revenue surged by 39% to ₹65 crore, while Automotive & Mobility Tech (A&M) revenue had a steady growth of 9% to ₹49 crore. In the first nine months of FY25, our A&M revenue grew by 16% YoY, while our C&E revenue saw a 19% increase. Our Map-led business delivered a very strong 33% growth to ₹87 crore in Q3 FY25, while the IoT-led business had a growth of 4% during the quarter due to delays in some anticipated business. However subscription services grew 31% year on year for the quarter. Our continued focus to build IoT-led business with higher margin subscription revenue has resulted in the IoT-led EBITDA margin to grow from 8% in 9M FY24 to 12% in 9M FY25.

Our efforts in the previous quarters culminated in securing a major deal with one of the largest global social media networks across all their app platforms in India, as well as significant wins in the burgeoning quick commerce space and BFSI vertical, which had a strong positive impact on our C&E business. We also made significant strides in customer acquisition and deepened relationships with existing clients through upselling and cross-selling initiatives. This included notable go-lives and project wins across various sectors, such as automotive, fleet management, tech startups, traditional corporations, government and defence.

Explore Rajasthan’s Culture and Wildlife at Club Mahindra Bharatpur

Chandigarh, January 29, 2025: Set against the enchanting backdrop of Rajasthan’s wilderness—the land of maharajas and majestic forts—Club Mahindra Bharatpur offers a serene retreat that seamlessly blends relaxation, adventure, and royal charm. Nestled within a restored heritage property, the resort spans 40 acres, with 22 acres dedicated to thoughtfully designed facilities. Easily accessible via well-connected road highways, Club Mahindra Bharatpur is the perfect destination for road trips, whether for a daycation or a weekend getaway. It is conveniently located for travelers from Delhi, Mathura, Agra, Madhya Pradesh, Rajasthan, Punjab, and Noida, Uttar Pradesh. Additionally, travelers from Gujarat and Maharashtra can reach the resort via direct flights to Agra and Jaipur. Ensuring a seamless journey, the nearest airport is in Agra, while Bharatpur Railway Station is just a short drive away. Jaipur Airport, located approximately 200 km from the resort, offers another convenient travel option. With its serene beauty and royal charm, the resort is an ideal escape for families, couples, and solo travelers alike. Bharatpur offers a delightful experience throughout the year. For those looking to extend their journey, Club Mahindra nearby resorts such as Club Mahindra Saura Hotel Agra, Nature Resort Jaipur, and Club Mahindra Jaipur—perfect stopovers to enhance your stay in Bharatpur.

The resort features 60 premium rooms, including Hotel Units, 1-Bedroom, and 2-Bedroom accommodations. Each room is thoughtfully designed to capture the elegance of Rajasthan’s traditional architecture, drawing inspiration from the grandeur of Rajasthani royalty and its rich cultural heritage. Dining is a delight at Spice, the resort’s multi-cuisine restaurant, offering authentic Rajasthani delicacies like Dal Baati Churma, Laal Maas, and Gatte Ki Sabzi, alongside global flavors. Signature experiences include the Avadeeb Theme Dinner, featuring dishes such as Avadeep Nikari and Fish Ka Sami, with Jasnandi Fish and Mohan Thali completing the feast.

For a truly unique dining experience, couples can savor a romantic meal under the stars in a serene and tranquil setting, surrounded by the enchanting ambiance of Rajasthan. For those seeking a lively atmosphere, Cheers Bar provides the perfect backdrop to unwind, offering an impressive selection of beverages. After relishing the delightful culinary experiences, guests can dive into a variety of indoor and outdoor activities at the Happy Hub. Whether it’s participating in an engaging cooking session with the chef, enjoying a game of table tennis , Pool table, carrom, chess Ludo, archery , arts and carfts , e cycling or exploring the serene nature trails, there’s something for every interest and age. For those looking to unwind, the Svaastha Spa provides a haven of relaxation with a range of soothing Western therapies designed to rejuvenate the body and mind. Guests can also take a refreshing dip in the inviting swimming pool, perfect for relaxation or family fun. The resort ensures a well-rounded experience, balancing adventure, wellness, and leisure.

Nestled near the UNESCO-listed Bharatpur Bird Sanctuary, the resort offers a haven for birdwatching enthusiasts. Early mornings and late afternoons are ideal times to witness the vibrant local birdlife. Guests can enjoy the unique experience of observing birds from two glass hides, providing an intimate view of a variety of species, including the Grey Hornbill, Laughing Dove, Grey-Headed Canary Flycatcher, and many more. From October to March, the sanctuary comes alive with migratory birds, offering a spectacular sight for nature lovers. The resort also organizes guided tours to the Bharatpur Bird Sanctuary, home to over 370 species of birds. Within the resort, guests can join guided nature walks led by expert naturalists. The sight of over 100 peacocks and their chicks roaming freely in the resort premises adds a magical charm to these walks.

For a deeper connection to Rajasthani culture, guests can enjoy a vibrant Rajasthani puppet show, showcasing the region’s traditional art forms. The guest can embark on an e-cycling adventure and ride through scenic paths lined with greenery or take the e-cycle to the sanctuary for an eco-friendly and immersive experience. Adding to Bharatpur’s cultural charm is the vibrant Brij Mahotsav, celebrated in March just before Holi. This grand festival, dedicated to Lord Krishna, showcases colorful folk dances, soulful songs, and mesmerizing Raas Leela performances, offering an unforgettable glimpse into Rajasthan’s cultural richness. Nearby attractions further enhance the allure of this destination. Explore the Bharatpur Palace and Museum, the historic city of Fatehpur Sikri, the spiritual towns of Vrindavan and Mathura, the architectural splendor of Agra, and the world-famous Taj Mahal. Together, they make for a perfect drive cation experience, blending history, culture, and natural beauty.

Whether you seek a tranquil retreat, an adventurous escapade, or an immersion into the royal heritage of Rajasthan, Club Mahindra Bharatpur promises an unforgettable journey. With its perfect harmony of nature, tradition, and unmatched hospitality, this resort creates memories to cherish forever.

Piramal Pharma Limited Announces Results for Q3 and 9M FY25

Mumbai, India | January 29, 2025: Piramal Pharma Limited (NSE: PPLPHARMA | BSE: 543635), a leading global pharmaceuticals and wellness company, today announced its standalone and consolidated results for the Third Quarter (Q3) and Nine Months (9M) ended 31st December 2024.

Particulars Q3FY25 Q3FY24 YoY Growth 9MFY25 9MFY24 YoY Growth
Revenue from Operations 2,204 1,959 13% 6,397 5,619 14%
   CDMO 1,278 1,134 13% 3,659 3,101 18%
   CHG 654 576 14% 1,928 1,782 8%
   ICH 278 252 10% 819 747 10%
EBITDA 350 330 6% 977 815 20%
EBITDA Margin 16% 17%   15% 15%  
Share of Net Profit of Associates 17 14 22% 57 47 20%
Net Profit After Tax 4 10 (64)% (62) (83) NM

Key Highlights for Q3FY25/9MFY25

  • Revenue from Operations grew by 14% YoY for 9MFY25, primarily driven by high-teen growth in the CDMO business
  • EBITDA grew by 20% YoY for 9MFY25, supported by operating leverage, cost optimization initiatives and superior revenue mix
  • Net-Debt to EBITDA ratio maintained at 2.8x
  • Best-in-Class Quality Track Record – No pending observation at any of our US FDA inspected sites
  • Significant Step Towards Sustainable Operations – Converted the coal-fired steam boiler at our Digwal facility to operate on biomass briquettes, a carbon-neutral fuel source. This will eliminate ~24,000 tCO2e1 GHG2 emissions annually accounting for about 17% of our total emissions

 Nandini Piramal, Chairperson, Piramal Pharma Limited said, “FY25 so far has been a steady year for the Company with revenue growth of 14% and EBITDA growing at 20%. Our CDMO business continues to deliver robust performance with 18% revenue growth along with EBITDA margin improvement in 9MFY25. This performance was largely led by innovation related work. Our CHG business registered an early-teen revenue growth during the quarter on the back of strong volume growth in our Inhalation Anesthesia portfolio. In our ICH business, power brands continue to register about 19% growth.

The quarter also marked a significant milestone in our journey towards sustainable manufacturing with the conversion of coal-fired steam boiler at our Digwal facility to operate on biomass briquettes. This will significantly reduce our GHG emissions – underscoring our unwavering commitment towards the planet.”

Key Business Highlights for Q3 and 9M FY25
Contract Development and Manufacturing Organization (CDMO):

–          CDMO business delivered high-teen revenue growth for 9MFY25 driven by continued traction in the on-patent commercial manufacturing and generic API business

–          Timely capacity expansions and targeted BD1 efforts resulting in YoY growth in RFPs, however customer decision making is prolonged

–          Continued YoY improvement in EBITDA Margin driven by better revenue mix and initiatives towards better procurement strategies, cost optimization and operational excellence

–          Maintained our best-in-class quality track record with successful clearance of 365 regulatory inspections (including 45 US FDA inspections) and over 1,800 customer audits since FY2012

–          Converted the coal-fired steam boiler at our Digwal facility to operate on biomass briquettes, a carbon-neutral fuel source. This is expected to eliminate ~24,000 tCO2e GHG emissions annually, accounting for about 17% of total emissions

–          Biotech Funding – CY2024 funding improved over CY2023, enough to replenish biotech cash burn but not enough to accelerate R&D spends

 

Complex Hospital Generics (CHG):

–          Inhalation Anesthesia (IA) sales in the US tracking healthy volume growth driven by order wins for Sevoflurane and Isoflurane

–          Capacity expansion at Dahej and Digwal underway to capture IA opportunities in the RoW markets. Seeing month-on-month increase in production output

–          Maintain our #1 Rank in the US in Sevoflurane (40%+ market share1) and in Intrathecal Baclofen (70%+ market share1). Mitigo (intrathecal morphine sulphate) also delivered encouraging growth during the quarter

–          Maintaining EBITDA Margins – Cost optimization initiatives in the areas of sourcing, manufacturing, distribution, and operational excellence, showing results

 

India Consumer Healthcare (ICH):

–          ICH business delivered double-digit revenue growth in Q3 and 9MFY25 amidst tepid consumer demand in the industry

–          Power Brands grew at 19% YoY during 9MFY25, driven by robust performance in Little’s, Polycrol and CIR. Power Brands contributed to 48% of total ICH sales

o   Excluding i-range, which was impacted by regulatory price control, growth in power brands was about 26% for 9MFY25

–          Added 16 new products and 23 new SKUs in 9MFY25

–          Launched our new media campaign with Mrunal Thakur for Lacto Calamine

–          E-commerce sales grew at over 40% YoY in Q3FY25 and contributed 20% to ICH sales. Present on more than 20 E-commerce platforms

 

Particulars Quarterly Nine Months
Q3FY25 Q3FY24 YoY  Change 9MFY25 9MFY24 YoY  Change
Revenue from Operations 2,204 1,959 13% 6,397 5,619 14%
Other Income 12 62 (80)% 93 149 (38)%
Total Income 2,216 2,020 10% 6,490 5,768 13%
Material Cost 806 675 19% 2,277 1,940 17%
Employee Expenses 556 524 6% 1,695 1,535 10%
Other Expenses 504 491 3% 1,541 1,478 4%
EBITDA 350 330 6% 977 815 20%
Interest Expenses 103 106 (2)% 318 334 (5)%
Depreciation 197 186 6% 574 544 5%
Share of Net Profit of Associates 17 14 22% 57 47 20%
  Profit Before Tax 67 52 29% 142 (16) NM
Tax 63 9 582% 204 35 479%
Net Profit after Tax 4 42 (91)% (62) (51) NM
Exceptional item (32) NM (32) NM
Net Profit after Tax after Exceptional Item 4 10 (64)% (62) (83) NM

KPMG India and The Hashgraph Group AG Partner to Revolutionize Enterprise Blockchain with Hedera Technology

29 January 2025 – KPMG in India, a leading professional services firm, and The Hashgraph Group (THG), a Swiss-based international business, venture capital, and technology company operating exclusively within the Hedera ecosystem, today announced a strategic alliance, aimed at accelerating the impact and enterprise adoption of blockchain and Distributed Ledger Technologies (DLT) across industry sectors, leveraging Hedera’s platform capabilities and its enterprise-grade DLT network.

The alliance is expected to see KPMG in India and The Hashgraph Group AG (THG) collaborating to enable and advance blockchain adoption, thereby aiming to deliver transformative benefits to enterprise clients globally and across various sectors. The strategic alliance is expected to aim to offer co-branded and joint go-to-market solutions, leveraging THG’s Hashgraph for Enterprise (H4E) product suite to enable businesses to benefit from secure enterprise-grade solutions built on the Hedera with service level agreements (SLAs).

DLT implementations are rapidly transitioning from nice-to-have to must-have decisions as we further advance into the future of a decentralized and interconnected Web3 economy. The growing adoption of DLT is expected to continue to gain traction for enterprises, with this technology now empowering many industries through its distributed ledger system. The evolution of  DLT as a technology, to a complete digital infrastructure, showcases its unique abilities to boost security, reduce costs, and enable everyday transactions to be more efficient, affordable, and convenient, while saving energy and meeting environmental, social, and governance (ESG) criteria and reporting requirements.

Speaking on the alliance, Chaitanya Gogineni, Partner, Digital Lighthouse, KPMG in India said “We are excited to join forces with The Hashgraph Group to build innovative Digital Ledger Technology (DLT) led tools and enable digital transformation for our clients. This alliance is built on a shared vision of empowering businesses to harness the power of DLT, unlocking new opportunities and creating lasting value”.

To this effect, this strategic alliance is expected to combine KPMG in India’s extensive expertise in the area of advisory and consulting services with Hedera’s leading DLT platform to create robust, secure, and energy-efficient decentralized solutions that can be easily, safely, and seamlessly integrated. The alliance could also look at addressing critical challenges and enterprise needs in areas such as digital identity (DID), digital product passport (DPP), sustainability, supply chain management, asset tokenization, and more.

Stefan Deiss, Co-Founder & CEO of The Hashgraph Group stated, “This strategic alliance with KPMG in India represents a pivotal moment in combining the strengths of a leading professional services firm with the technological power of Hedera as the world’s leading layer-1 protocol to enable organizations with Hedera-powered post-quantum enterprise solutions. We are excited to embark on this joint go-to-market journey with KPMG in India and look forward to empowering businesses to compete in the Web3 economy.”

Additionally, the structured collaboration in the productization and commercialization of DLT for enterprises, might enable KPMG in India and THG to pool engineering resources, advisory expertise, investments, and strategic Web3 capabilities to serve the growing demand for enterprise ready blockchain-powered solutions, with the achieved synergy expected to strengthen both KPMG in India and THG’s global market presence, while increasing client reach and enhancing service delivery through a joint go to market strategy and unified project execution.

Krishna Tyagi, Head of Web3 at KPMG in India said “Today blockchain technology has the potential to revolutionize various sectors by providing secure, transparent, and efficient solutions. Our alliance with The Hashgraph Group is expected to enable us to offer our clients immense value and drive innovation in the digital economy enabled by blockchain technology.”

Hedera leverages its Hashgraph consensus algorithm to achieve high speed, security, and scalability. It’s low, predictable fees, and carbon-negative footprint make it ideal for enterprise applications ranging from decentralized finance to sustainability solutions to supply chain management. Governed by some of the world’s leading organizations, including the 32 Hedera Governing Council members Hedera offers a trusted and robust quantum-resistant infrastructure for businesses and institutions.

Anindya Roychowdhury, Head of Global Partnerships at The Hashgraph Group said “Having spent a large part of my professional career with KPMG in India, I am delighted to have facilitated this important collaboration. India is emerging as the world’s 1 destination for Web3, and this strategic alliance will establish Hedera as the preferred DLT protocol for governments and enterprises; we have already made significant inroads through our local presence in India and expect to scale massively over the coming years.”

Hatsun Agro Acquires Milk Mantra for Strategic Dairy Expansion

Mumbai, January 29, 2025: Hatsun Agro Product Ltd (HAP), India’s leading corporate dairy company, is happy to announce the completion of the acquisition of Milk Mantra Dairy Private Limited, and its innovative dairy brand “Milky Moo” known for its quality commitment in milk procurement and sales. This strategic takeover strengthens HAP’s presence in the Eastern Indian dairy market and underscores its mission of delivering fresh, high-quality dairy products to customers.

Speaking on the occasion, Mr. Srikumar Misra, Founder of Milk Mantra, shared: “Milk Mantra has always been about building a purpose driven dairy foods brand, whilst pioneering an ethical milk sourcing model, empowering farmers, and ensuring superior quality dairy products for our consumers. Acquisition by Hatsun Agro Product Ltd is a natural progression of our vision to scale our impact and innovation across a broader market. HAP has visionary leadership and has extensive resources that will further elevate the value delivered to consumers and farmers alike. We are happy for the future of Milky Moo, and our ecosystem in this transformative transaction, not just for Odisha but beyond.”

Commenting on the acquisition, Mr. R.G. Chandramogan, Chairman of Hatsun Agro Product Ltd, stated: “With Milk Mantra, HAP is now present beyond our strong position in South & West India, now establishing a robust presence in Eastern India. Odisha is a prosperous cow milk belt, and a growing economy. We are excited that a strong brand Milky Moo is added to our stable of brands like Arun, ibaco, Hatsun and Arokya. We are committed to expanding and growing the dairy landscape in Odisha. Logistically, it also gives scope to strengthen markets like northern Andhra, West Bengal and adjoining States, where Arun Ice Cream is already present.

With this takeover HAP will start with a sizeable market share, wide distribution & procurement network and 2 strategically located processing facilities in Odisha with the Milky Moo brand’s established strong market presence.

Samantha Kochharr to Lead Skill Competitions at WorldSkills International as New Manager

New Delhi, January 2025: Worldskills recently appointed Samantha Kochhar as the Skill Competition Manager for WorldSkills International. This historic milestone further solidifies India’s presence on the global stage of excellence in the hairdressing industry.

Samantha Kochharr, a trailblazer in the hair and beauty industry, has been shaping the sector since the age of 11. With an impressive career spanning decades, she brings extensive experience in national and international film, fashion, and creative arts. As the Managing Director of Blossom Kochhar Aroma Magic and the Blossom Kochhar Group of Companies, she has successfully combined entrepreneurial expertise with her creative flair.

She is the first Asian to hold this position, breaking barriers and setting new benchmarks for the industry.

In addition to her professional accomplishments, Samantha Kochharr is also an author and her spiritual journey has profoundly influenced her work, reflected in her book, Arribada: The Arrival, which provides a unique perspective on healing and self-discovery.

Speaking about her new role, Samantha Kochharr said, “I am deeply honored to be entrusted with the responsibility of serving as the Skill Competition Manager for WorldSkills International. This role represents an opportunity to contribute to the global standards of the hairdressing industry.”

Samantha Kochharr’s appointment is a testament to her relentless dedication, vision, and commitment to nurturing talent and innovation. Her leadership continues to inspire professionals worldwide, while her achievements pave the way for India’s continued recognition as a global leader in the beauty and wellness sector.

Cybersecurity in the AI Era: Protecting a Hyperconnected World

By: Mr. Ashutosh Upadhyay, Founder, Cognio Labs

 

In the ever-evolving landscape of modern finance and cybersecurity, artificial intelligence stands at a fascinating crossroads. Like a guardian angel equipped with quantum-speed processing power and superhuman pattern recognition abilities, AI offers unprecedented protection. Yet, this same power harbors potential for sophisticated deception and attack. For auditors and accountants, understanding this duality isn’t just academic—it’s becoming a critical professional necessity.

The Protective Shield: How AI Safeguards Systems

The days of sample-based auditing are fading into history. Modern AI systems analyze every transaction in real-time, identifying anomalies that would take human teams months to uncover. Consider a recent case at a global manufacturing firm: an AI system detected a complex accounts payable fraud scheme by identifying subtle patterns in seemingly legitimate vendor payments—patterns invisible to traditional audit procedures.
In fraud prevention, AI systems are revolutionizing detection capabilities. Neural networks don’t just match known fraud patterns; they predict new ones. A European bank recently prevented a massive fraud attempt when its AI system detected anomalous patterns in international wire transfers that appeared legitimate but deviated microscopically from established business relationships.
Security protocol automation has evolved from convenience to necessity. AI-driven continuous monitoring adapts in real-time to emerging threats, learning from every transaction, login attempt, and data access pattern to build an increasingly sophisticated understanding of normal versus suspicious behavior.

The Dark Side: AI as a Weapon

However, this same sophistication that makes AI an effective guardian also makes it a formidable weapon in the wrong hands. Criminals now deploy AI systems to create nearly undetectable fraudulent transactions that mirror legitimate patterns. In a striking example, an AI-generated deepfake voice recently convinced a bank manager to authorize a $35 million transfer by perfectly mimicking a trusted client’s voice and speech patterns.
The rise of polymorphic fraud schemes—attacks that constantly evolve to evade detection—represents a new frontier in financial crime. These AI-driven systems automatically adjust their patterns based on success and failure, learning from each attempt to become more effective. Traditional rule-based fraud detection systems increasingly struggle against these adaptive threats.

Professional Implications: The New Frontier

This technological arms race has profound implications for audit professionals. The traditional sampling approach to audit evidence is becoming obsolete. Today’s auditors must understand:

– How AI models make decisions and what constitutes appropriate evidence
– The potential for AI systems to be compromised or manipulated
– The importance of maintaining professional skepticism even with AI-generated conclusions
– Methods for validating AI model outputs
– Techniques for documenting and justifying AI-assisted decisions

Future Outlook: Evolution of Professional Judgment

The future of auditing lies not in replacing professional judgment with AI, but in augmenting it. Tomorrow’s auditors must be as comfortable evaluating AI systems as they are analyzing financial statements. This includes developing expertise in:

– AI model validation techniques
– Risk assessment of AI-generated conclusions
– Documentation standards for AI-assisted auditing
– Ethical considerations in AI deployment

Conclusion
The AI safety net in financial security is neither inherently good nor evil—it is a sophisticated tool whose impact depends entirely on its deployment and monitoring. For audit professionals, the challenge extends beyond learning to work with AI systems to developing the wisdom to know when to trust them and when to question their conclusions.
In this new landscape, professional scepticism remains your most valuable asset. As AI systems become more sophisticated, the ability to question, validate, and understand their conclusions becomes not just valuable, but essential for professional survival. The future belongs not to those who simply embrace AI, but to those who understand both its promise and its perils.​​​​​​​​​​​​​​​​