M & B Switchgears changes company name to Ujaas Energy Limited

M & B Switchgears changes company name to Ujaas Energy Limited

The company is well known for being the first to generate & sell Solar REC made at its 2 MW solar power plant, commissioned in March 2012 at Rajgarh (Madhya Pradesh)

M & B Switchgears Limited announced that effective 19 August 2013, the company's changes its name to Ujaas Energy Limited. The need for this change is to define the nature of its business more accurately and categorically.

“Ujaas” means “Light at the Dawn” in the local language.

The company is the first to generate & sell Solar REC in the country from  its solar powerplant of 2 MW commissioned in March 2012 at Rajgarh (Madhya Pradesh).

Vikalp Mundra, joint managing director, Ujaas Energy expressed confidence that the company would continue on the growth trajectory. Solar power will become one of the biggest contributors to India’s huge appetite for power. With the encouragement and support provided by the SERCs (State Electricity Regulatory Commissions), solar PV (photo voltaic) capacity is expected to triple in the country in FY 2013-14, he added.

With a vision of offering a simple, universally acceptable, easily maintainable system of green energy to humanity at large, the company introduced a unique concept of solar parks and branded it as Ujaas^TM. Ujaas Park is a plug and play model of service in solar projects at an affordable cost. It is a single window service to own a solar power plant, right from selection of land to selection of technology; putting up a solar power plant; getting all the permissions; selling power to third party buyers etc. It gives a complete solution to an investor to own and operate a solar power plant.

Source : http://www.moneylife.in/

How Eveready has managed to become a leader in Rs 1,300 cr battery business

Call it Eveready's last stand. It's been a leader in the Rs 1,300-crore battery category which is growing at about 5% every year.

In the early 90s, a tagline made the dullest of categories sexy. Remember 'Give Me Red' the campaign for Eveready? Over the years, it may have lost some of its colour but the brand has recharged its batteries and is ready to go another round.

For a brief time in the early 90s, Eveready managed to make batteries cool. Give Me Red created by Rediffusion had production values that rivalled music videos (which a vast majority of young India hadn't seen at the time), transforming a formerly stolid and functional category. It was perfect for a time when batteries of various sizes were becoming a staple not just for torches but for the portable tape and transistor generation.

But that's flashback. Fast forward to 2013.

With the market for its core business — batteries — stagnating and a steady rise in input cost taking a toll on volumes, Eveready is diversifying. It's trying everything from rechargeable lighting solutions such as LED fans and table lamps to transistor radios and the great grandchild of the batteries of yore: the portable mobile charger. It's betting big on power-starved Bharat and trying to connect with the already electrified India with a new age portfolio.

Call it Eveready's last stand. It's been a leader in the Rs 1,300-crore battery category which is growing at about 5% every year. But over the years, the slogan Give Me Red appears to have transformed into self fulfilling prophecy, what with a net loss of Rs 2.15 crore for the quarter of 2013-14 financial year ended March 31.

The loss in the corresponding period last year was an even more devastating Rs 86.01 crore. But according to the company, the June quarter has begun on positive note. It has posted a 23% rise in standalone net profit at Rs 4.12 crore in the first quarter ended June 30, 2013. Its net sales increased by 9% to Rs 279.56 crore in the quarter under review as against Rs 256.54 crore in the same quarter last year.

The change is being led by Amritanshu Khaitan, executive director, Eveready IndustriesBSE 2.68 %, the third generation in the Brij Mohan Khaitan family who came on board in 2011 after graduating from the London Business School.

"We did an exhaustive study to understand the relationship between Eveready and its consumers," he says. It reinforced internal thinking about Eveready being a power, energy and lighting brand. Hence, the strategic decision to get into products in line with this core portfolio. It led Eveready into areas like portable mobile chargers and rechargeable lighting.

"We had to move with time," Khaitan admits. With marketing spends of Rs 30-Rs 35 crore for this year, Khaitan is betting big on rechargeable lighting solutions, but without losing focus on his core business.

The battery major plans to revive the radio segment by rolling out transistors for Rs 500, mainly for the rural and semi-urban markets for when FM stations hit towns with less than 1 lakh population. Again, a move that's likely to charge up its battery business.

Full Power

But can an old brand learn new tricks? Yes, say some marketing experts. It's a classic case of diversification according to Smitha Sarma Ranganathan, a brand communication specialist who teaches marketing management at IBS Bangalore.

It's a smart move for Eveready to get into the portable mobile charger business, says Saurabh Parmar, founder & CEO of brand consultancy firm Brandlogist. "Unlike most traditional companies, it seems to have focused on what today's consumers require and worked backwards." However while Eveready seems to be making a few right moves on the product front, it may fall short when it comes to youth connect.

KK Cariapa, founder of Opsbuds, a Bangalore-based market research firm, is not sure Give Me Red still has legs. "Those were the days of Generation X when advertising was truly the mainstay. and campaigns influenced the consumer all the way to the point of sale."

Generation Y is not influenced by high-pitched calls for action. They are technologically savvy, and driven by needs rather than wants. "This is not the generation that will rally behind a Herculean call," he says.

None of which is stopping Rediffusion Y&R from coming up with a revitalised avatar ofGive Me Red after getting a brief to contemporise the campaign. The lack of a strong social or even digital presence is also considered a huge shortfall.

Says Parmar, "Considering they are marketing to heavy mobile or internet users, there is hardly anything done on digital except a standalone website." A TV driven approach is perhaps more suited to small town and semi urban India. But to build a brand for the future requires Eveready to relook at everything from their choice of marketing mediums to a brand icon. Eveready should own "red" everywhere in the digital media as well, suggests Cariapa. "That's the touch point for Gen Y and may be Gen Z."

Khaitan takes note of this fact. However, for a brand that draws over 60 % of revenues from rural India, social media will take some time. "Our budgets are not as large as the Cokes and Pepsis of this world," he says, promising a social campaign around the mobile charger, apart from advertising on popular ecommerce sites.

The focus for the rural audience also involves events such as haats and melas. The transition from predominantly batteries to a wider folio is likely to be anything but stress free.

In spite of rock solid distribution and brand equity, the missing factor is a differentiated high-tech product. In the LED space, it has to contend with China and unbranded local players, dynamics that didn't exist in the late '80s and early '90s.

The "LED market in India is in fact the China market and the margins are wafer thin," says an industry analyst, requesting anonymity. Khaitan is aware of this, but not perturbed.

"Indian consumers are quite price and quality conscious," he says. But the China threat is an opportunity for us, he adds confidently. One may buy cheap Chinese products, but that's only once because you won't buy a poor quality product again, he explains.

"That's why Chinese products are building market for us. For when you upgrade, Eveready is there." Perhaps, the next iteration of Give Me Red will have a more rustic avatar. Maybe it's time to reclaim 'Laal Salam'.

Source : By Rajiv Singh, ET Bureau 

Reliance Industries Ltd to go slow on 720,000-sq-ft Alaknanda mall following strong protests

An RIL group company in 2007 had purchased a 4-acre plot in south Delhi's Alaknanda through an auction from the DDA for about Rs 304 crore.

 Reliance Industries Ltd (RIL), the country's largest privately owned company, has decided to go slow on its plans of constructing a gigantic 720,000 sq ft mall in a residential colony in south Delhi, following protests from an assorted group of upper middle class professionals who live there.

An RIL group company in 2007 had purchased a 4-acre plot in south Delhi's Alaknanda through an auction from theDelhi Development Authority (DDA) for about Rs 304 crore. Over the years, the company has obtained reams of licences from the authorities to build a six-storey mall with three-floor basement. The mall is slated to be opened in 2014.

But Reliance had not accounted for the determined opposition from a group of local residents that calls itself the Citizens Alliance and includes economists, doctors, architects, lawyers and teachers.

This group, which held a 1,000 people-plus rally last month to protest the construction of the mall, says visitors to the proposed mall will choke traffic in the small bylanes of the locality and create pandemonium for its residents.

It claims that the residents were expecting the plot to be used for common facilities such as tennis courts, playgrounds and swimming pools, and that they were shocked to discover a mall being planned at the site. A DDA spokesperson, however, disputes this claim and says this plot was always reserved for commercial purpose in Delhi's master plan.

A DDA spokesperson, however, disputes this claim and says this plot was always reserved for commercial purpose in Delhi's master plan.

Citizens Alliance has in the past few months petitioned Delhi Chief Minister Shiela Dixit, BJP leader VK Malhotra as well as the Lt Governor of the city. While there has been speculation that Arvind Kejriwal was backing the protest, Ravi Kaimal, a prominent member of the Citizens Alliance, said this was not the case and the activist-turned-politician was not connected with their cause.

A person with direct knowledge of RIL's retail plans said the company had decided to follow a 'wait and watch' attitude, after the protests gathered momentum. "The company is the process of executing several projects. It has plenty on its plate. It is in no hurry to complete the Alaknanda mall. All its documents for the plot are in order," he said.

A Reliance official said the company was evaluating market conditions. "We can't say anything as we are not sure on the return (on investment). The proposed mall is being discussed and if it is not suitable, we will postpone it," he said.

An email sent to the Reliance spokesman on Monday did not elicit a response.

The construction of big supermarkets or malls in city centres is a controversial issue worldwide and has often led to face-offs between big retailers and local communities. Some big cities in the US such as New York and Washington DC have restricted the entry of Walmart, the world's largest retail company. But the opposition being faced by Reliance is possibly the first anti-'big retail' protest by local residents of a metro in India.

"In principal, if any project affects the communities, the communities should have the right to represent themselves and similarly the developer should also have right of its views. They should call an official negotiator and only then a conflict can be resolved," said KT Ravindran, urban designer and former head of Delhi Urban Arts Commission.

Indicus Analytics, an economics research firm founded by Laveesh Bhandari, a member of Citizens Alliance, has conducted a study on the proposed mall and its ramifications on the nearby neighbourhoods. It has concluded that parking slots for around 7,200 cars will be needed during weekends and holidays.

"The mall's parking lot could only accommodate about 500 cars. Where would the rest of the cars be parked? On the roads?" Bhandari said.

He added that the alliance has filed about eight applications under the Right to Information Act to various departments, including DDA, Delhi Urban Arts Commission, Delhi Police and other government agencies, and found that environmental, traffic and other rules had been flouted in clearing the mall project.

The proposed mall will share a boundary with a local school, whose principal is also opposed to its construction. "The mall will disrupt the amicable unison and unleash chaos with unwelcomed race for materialism and glamour. Such a situation would result in multiple social, educational, individual disorders and imbalances," said Anju Mehrotra, the principal of Kalka Public School, in a letter to Delhi's Lt Governor. 

Source : By Rasul Bailay, ET Bureau

With Rs 164 crore in kitty, Rohini Nilekani to chart a new course in philanthropy

Rohini Nilekani, who sold a portion of her shares in Infosys last week for Rs 164 crore, will use the money to chart a new course in philanthropy.

RohiniNilekani, who sold a portion of her shares in Infosys last week forRs 164 crore, will use the money to chart a new course in philanthropy by backing select social ventures.

Rohini, 53, whose husband Nandan co-founded Infosys, said she will provide grant capital to individuals and organisations in the areas of governance, legal services, environment protection and new media.

The money will be kept aside in a separate portfolio to be managed by the family office of the Nilekanis. "This way, I am not bound to the limitations of putting it in a corpus and can give away just the income or larger chunks as I see fit,' she told ET.

At least three entities have already been chosen to receive the grants, which will typically be below Rs 5 crore each. Among the first are online media portal IndiaSpend, PRS Legislative Research and the Association for Democratic Reforms.

This marks the second innings in philanthropy for the former journalist, who founded Arghyam - an organisation that works in the area of water and sanitation - in 2005, committing about 150 crore. She also founded Pratham Books, which promotes literacy.

The model that Rohini has chosen is close to the approach taken by eBay founder Pierre Omidyar, whose family office has provided a mix of grants and equity money of around $125 million (roughly Rs 760 crore) in India so far.

Omidyar's family office has provided a mix of grants and equity money of around $125 million (roughly Rs 760 crore) in India so far.

"It is the Silicon Valley approach to philanthropy: bottom-up and entrepreneurial rather than thematic," said JayantSinha, managing director of Omidyar Network in India.

The Nilekanis are clear that for now they will earmark the money purely for grant-making. "These are not investments but philanthropic grants that Rohini will give from this money," said NandanNilekani, who is the chairman of the Unique Identification Authority of India.

Nandan, who has gifted Rs 50 crore to establish the Indian Institute of Human Settlements in Bangalore, owns around 1.45% of Infosys. Rohini'sshareholding is 1.31%. TrilochanSastry, a trustee at theAssociation for Democratic Reforms and a professor at Indian Institute of Management-Bangalore, said, "Grant money is very important in areas such as transparency and governance where there is no business model."

Despite an economic slowdown, India's pool of philanthropic capital is growing, according to a report by consulting firm Bain. The country's wealthy individuals increased their contributions to philanthropy from 2.3% of household income in 2010 to 3.1% in 2011.

But donors are focusing more on understanding the impact of their giving before they commit to causes. "At first I thought of food and nutrition-related work as a continuum from water (Arghyam), but it seemed to me that with the limited resources, I might not be able to make a dent in the scale of the problem," said Rohini, who worked for over a year with her advisors to identify the right initiatives.

The organisations she is considering backing include legal policy research outfit Vidhi, theCentre for Law and Policy Research, and Ashoka Trust for Research in Ecology and the Environment. She expects to fund around half-a-dozen initiatives every year. To ensure she can create a "network effect" that draws more capital, Rohini is talking to prospective co-investors who can support these ventures. She declined to identify them, saying the discussions were still on.

Source : By Archana Rai, ET Bureau

------------------------------------------------------------------------------------------------------------------------------

Nandan Nilekani’s wife sells 5.77 lakh Infosys stocks

Rohini Nilekani has sold 5.77 lakh Infosys shares worth Rs 163.51 crore and plans to use the money in philanthropic activities.

Rohini Nilekani has sold 5.77 lakh InfosysBSE 0.19 % shares worth Rs 163.51 crore and plans to use the money in philanthropic activities.

"For the past several years, I have undertaken philanthropic initiatives in multiple sectors such as education, water, environment and governance, among others. The proceeds of the sale of share, post tax, will be deployed towards these and other philanthropic contributions, over time," Rohini, wife of Infosys founderNandan Nilekani, said in a Bombay Stock Exchange ( BSE) filing on Friday.

The share sale has marginally reduced her stake in Infosys, from 1.41% (80,78,174 shares) to 1.31% (75,01,174 shares).

Rohini is the founder of Arghyam, a public charitable foundation that supports sustainable water management towards meeting the basic water needs of all citizens, especially those from vulnerable communities. It also grants funds to organizations that implement and manage groundwater and sanitation projects in India. Arghyam has made grants to recipients in 22 states since 2005.

Rohini is also the founder member and chairperson of Pratham Books, a not-for-profit publisher that has published over 215 titles in English and other Indian languages. It has printed 8.5 million books and over 10 million story cards and has a readership of nearly 25 million. Pratham's vision is to put a book in every child's hand.

Source : By Shilpa Phadnis, TNN