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.
Abhay Chheda Steps into VP Role for Syndication and Distribution Across Atrangii, Ullu, and Hari Om OTT
Atrangii, Ullu, and Hari Om OTT have announced the appointment of Abhay Chheda as Vice President – Syndication and Distribution. With nearly two decades of experience in the media and entertainment industry, Abhay is a distinguished professional renowned for his proficiency in content acquisition, syndication, and digital distribution. Prior to this , has held leadership roles at GoQuest Media Ventures, where he led key business verticals for over eight years. He has also been associated with Buddha Pictures, overseeing international syndication and Disney UTV Studios, where he contributed to global marketing campaigns and international theatrical distribution.
He will lead the Business Syndication team, with his role encompassing syndication and distribution of content across the platforms.
Vibhu Agarwal, Founder & CEO of Hari Om, Atrangii, and Ullu, shared, “Abhay Chheda’s appointment marks a significant step in our journey to explore content syndication across various languages and genres, along with the distribution of our content. His experience, creativity, and leadership will play a pivotal role in driving our vision for all three varied platforms forward.”
On taking up his new role, Abhay Chheda shared, “I am genuinely excited to join Vibhu Agarwal Group’s OTT platforms and collaborate with a team that is deeply committed to revolutionizing content on Indian OTT. With my expertise in international content syndication and distribution, I look forward to taking the platforms to newer heights and audiences worldwide”
Atrangii, Hari Om, and Ullu OTT are set to embark on an exciting new chapter, delivering a diverse array of content from different Indian and international languages that captivates audiences and sets new benchmarks in entertainment.
Unlock Entrepreneurial Success: Infosys and Saïd Business School Join Forces on New Course
Oxford, UK and Bengaluru, India – January 29, 2025: Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, and Saïd Business School, University of Oxford, one of Europe’s leading entrepreneurial business schools, today announced the launch of the ‘Springboard StartSmart: Foundations for Entrepreneurs’ course. Leveraging Infosys Springboard, the free digital learning and reskilling platform, the course is aimed at new entrepreneurs and small and medium enterprises (SMEs). The collaboration aims to empower entrepreneurs and SMEs with the skills and knowledge needed to thrive in today’s dynamic business landscape.
Through this collaboration, Oxford Saïd’s accredited courses will be tailored to the specific needs of young entrepreneurs empowering them at all stages of their entrepreneurial journey, from early-stage founders to those considering starting their own businesses. The course will aim to democratize the overall learning process and equip learners with the knowledge and tools required to embrace digital transformation, apply fundamental business concepts, and leverage the potential of emerging technologies, including AI tools.
Manos Kapterian, Chief Operating Officer at Oxford Saïd, said, “While the UK fosters a strong culture of innovation and entrepreneurship, nearly 60 percent of small British businesses and start-ups face failure within the first three years. Providing access to the right tools and mentorship are vital ingredients to the success of these start-ups. We are pleased to form this collaboration with Infosys, bringing our world-class business education to even more aspiring entrepreneurs and SMEs, helping them to have a positive impact in their communities.”
Thirumala Arohi, EVP and Head – Education, Training, and Assessment, Infosys, said, “We are committed to harnessing the collective strength of our technology and people to transform the communities we work in. By bridging the digital divide through world-class digital learning opportunities, we aim to create a more equitable society and nurture a new generation of business leaders. Our collaboration with Oxford Saïd Business School and our digital learning platform, Springboard, provide the tools to achieve this goal. In the UK, one of the most entrepreneurial countries globally, this course has the potential to equip entrepreneurs with the right tools, enabling them to thrive in the ever-evolving business landscape while solving important global challenges.”
Infosys’ joint efforts with Oxford Saïd build on Infosys’ successful collaborations with local councils across the UK to provide access to learners with vital digital skills and resources. Since the launch of the initiatives in 2021 over 50,000 registered users are actively benefiting from over 10,000 courses offered through the Infosys Springboard platform.
CHICBUN Is Here to Transform Bengaluru’s Gourmet Burger Experience
Bangalore; India 2025 – Bangalore’s ever-evolving food scene has a fresh addition that’s making waves—CHICBUN, a gourmet slider concept created by Skope Kitchens. Known for its innovative approach to dining, Skope Kitchens has poured its expertise into crafting a brand that elevates sliders from overlooked menu items to culinary highlights.
With CHICBUN, Skope Kitchens has taken a thoughtful approach by helping them to fill a gap in Bangalore’s burger landscape. Sliders – smaller, flavor-packed versions of traditional burgers; are brought to life with premium ingredients, bold flavor pairings, and meticulous preparation. Each slider tells a story of quality and creativity, setting CHICBUN apart from typical fast-casual options.
The experience extends beyond the food. CHICBUN‘s vibrant and chic branding ensures the presentation reflects the gourmet nature of the offerings. The packaging has been designed with care to match the brand’s modern and playful identity, making it ideal for casual lunches, quick bites, or social gatherings.
The thoughtfully designed menu caters to a diverse range of palates, with every slider crafted to perfection, ensuring both vegetarian and non-vegetarian options stand out:
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The Truffler Slider (Beef): Indulge in the richness of a smashed beef patty layered with melted cheese, sautéed mushrooms, caramelized onions, and a luxurious truffle-infused sauce.
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Maple Blaze Chicken Slider: A harmonious balance of sweet and spicy, featuring crispy fried chicken dipped in maple sriracha butter, complemented by house pickles, creamy coleslaw, and melted cheese.
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Spicy Paneer Stack Slider: Crispy fried paneer paired with crunchy lettuce, house-made pickles, and a drizzle of signature sauce for a burst of flavor.
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Chick’o Slider Duos (Chicken): Double the delight with golden fried chicken, fresh lettuce, house-made pickles, signature sauce, and melted cheese—served with fries and your choice of dip.
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The Wild Buffalo (Chicken): Crispy fried chicken coated in bold buffalo sauce, topped with fresh lettuce, creamy mayo, and house-made pickles—accompanied by fries and a dip of your choice.
To complement the sliders, the menu offers a tempting selection of appetizers, including a variety of vegetarian and non-vegetarian fries, onion rings, and chicken tenders.
For a sweet finish, foodies can indulge in desserts such as the Hazelnut Brownie with Vanilla Ice Cream, Double Chocochip Brownie with Vanilla Ice Cream, or the decadent CHICBUN Choco Fudge Sundae.
Enhancing the overall couch cuisine, loaded fries and distinctive house-made dipping sauces further elevate the menu, making it a treat for all occasions.
“Our vision with CHICBUN was to reimagine sliders in a way that combines accessibility with gourmet quality,” says Arvind Krishnan, Krishna, Founder and CEO at Skope Kitchens. “We saw an opportunity to innovate and create something that delivers bold, satisfying flavors without compromising on creativity or quality.
Skope Kitchens plays a crucial role in bringing CHICBUN to life, from concept development to execution. By sourcing premium ingredients and designing a creative menu, it ensures CHICBUN stands out for its quality and innovation. As CHICBUN makes its mark on Bangalore’s culinary scene, Skope Kitchens solidifies its reputation as a key player behind exciting food ventures.
Smart Term Plan Plus by Axis Max Life Offers 2x Return of Premium
New Delhi, January 28, 2025: Axis Max Life Insurance (“Axis Max Life”/ “Company”) has announced the launch of the Axis Max Life Smart Term Plan Plus (UIN: 104N127V01), a non-linked, non-participating, individual pure-risk life insurance plan designed to address diverse needs and life stages, with coverage tailored for customers’ needs. It offers a benefit to receive up to 200% of the total premium, paid-back as a special exit value with no additional premium to be paid to avail this benefit.
The plan also offers women-centric features tailored to the unique requirements of this customer segment. It includes a maternity cover benefit that safeguards against pregnancy complications and also covers the new-born for congenital anomalies for upto 3 years of birth. It offers Lifeline Plus benefit that allows the female Life Insured to increase the coverage in case of her spouse’s death for upto 50% of Base Sum Assured, or Rs. 50 lakhs (whichever is lower). Most significantly, the plan offers a 15% discount on premiums for female policyholders compared to male policyholders. Moreover, salaried females are eligible for an additional 15% discount on the first year premium which can be up to total discount of 27.75% on first year premium.
Prashant Tripathy, Managing Director and CEO, Axis Max Life, comments, “While awareness of term insurance is increasing, its penetration in India remains significantly low, leaving a substantial protection gap for many families. The Axis Max Life Smart Term Plan Plus is designed to address this critical need by offering affordable and accessible protection to a wider segment of the population. With its flexible options and competitive pricing, the plan is an attractive and budget-friendly choice, particularly for young customers. I am confident that by making term insurance more accessible and affordable with this plan, we can play a crucial role in bridging the protection gap and building a more financially secure India.”
Key Features of the Axis Max Life Smart Term Plan Plus (subject to policy terms and conditions):
- Rebalancing cover: One of the variant (rebalancing cover) of the plan offers auto rebalance of Life cover Sum Assured and Accidental Death Benefit (ADB) cover Sum Assured.
- Multiple Plan Options: The policy includes unique variants, such as “Return of Premium,” “Early ROP Plus,” “Smart Cover,” and “Whole Life Cover,” each designed to address specific customer needs.
- Special Exit Value: Policyholders can receive up to 200% of the Total Premiums Paid back (excluding GST) from the 30th policy year onwards, ensuring higher value at the point of exit.
- Smart Cover: Designed for families with young children, this feature provides 1.5X coverage for the first 15 years, helping ensure more robust protection during the early years of financial responsibility.
- Whole Life Cover: Offers coverage until the age of 100 years, providing policyholders with long-term financial security, regardless of when the claim occurs.
- Income Protection Cover: Option to receive monthly income payouts in the event of death, available as either level income payout or inflation-proof payout.
- 15% Discount for Salaried Individuals: The plan offers a 15% discount on the first-year premium for all salaried professionals, making it more accessible for a wider range of customers.
- Inbuilt Cover Continuance Benefit: Flexibility to defer the due premium for a period of up to 12 months from the due date of first unpaid premium, while maintaining the full risk cover under the base plan and attached riders (if any).
The Axis Max Life Smart Term Plan Plus, which has 7 variants, meets the rising demand for adaptable financial security in India. Despite growing awareness, only 31% of urban Indians have term insurance (Axis Max Life IPQ 6.0 Survey) revealing a protection gap. This plan, with its flexible options, empowers individuals to create a safety net for their families, aligning with Axis Max Life’s commitment to financial empowerment