Sunday, September 13
Radico Khaitan, Bollywood actor Shah Rukh Khan, his son Aryan Khan, and Zerodha's co-founder Nikhil Kamath will pick up equity stake in an alcobev firm that will launch premium spirits including tequila and scotch globally and in India.Under the agreement, Radico will hold 45.5% stake in the company D’Yavol Spirits while SLAB Ventures, an acronym from Shah Rukh Khan, Leti Blagoeva, Aryan Khan and Bunty Singh, will own another 47.5%. Kamath will have the remaining 5% stake. "We are seeing this company as a platform where we will have products which are globally bottled, we will bring them into India as well as take them overseas," Abhishek Khaitan, managing director at Radico Khaitan told ET. "Getting these international brands as part of the luxury portfolio does not prevent Radico to pu
Ethanol has become costlier than petrol, the oil ministry said, rejecting calls to make ethanol-blended fuel cheaper despite its lower energy content.“Some concerns have been voiced that ethanol-blended petrol should be cheaper than non-blended fuel and that this cost advantage has not been passed on to the customers,” the ministry said in a statement on Tuesday. It emphasised that the demand for lower prices was based on a Niti Aayog report released in 2020-21, when ethanol was cheaper than petrol. Procurement prices have since risen, and the current weighted average price is now higher than petrol, according to the ministry.The current average procurement cost of ethanol, including transportation and GST, is Rs 71.32 per litre, the ministry said.A liter of petrol currently costs Rs 9
Apollo Hospitals Enterprise on Tuesday reported a consolidated net profit of Rs 433 crore in Q1, up 42% compared to Rs 305 crore reported in the year ago period. The profit after tax (PAT) was attributable to the owners of the company.Company's revenue from operations in the quarter grew 15% to Rs 5,842 crore versus Rs 5,086 crore in Q1FY25.The PAT was 11% higher on a sequential basis versus Rs 390 crore in Q4FY25 while the topline increased 4.5% over Rs 5,592 reported by the company in Q4FY25.The earnings were announced after market hours and Apollo Hospitals shares ended with minor downtick at Rs 7,253 on the NSE.Segment revenueThe company earned its revenues from healthcare services, Retail health & diagnostics, Digital health & pharmacy distribution and also as other income.--
Novelis Inc, the wholly-owned subsidiary of Hindalco Industries, has reported a 36% year-on-year fall in its net income for the June quarter at $96 million. Excluding special items, the bottomline was 43% lower compared to the previous year at $116 million.The US-based aluminium-maker’s net sales were 13% higher compared to the previous year at $4.7 billion, helped by higher average aluminum prices and a 1% year-on-year increase in total rolled product shipments to 963 kilotonnes.“Higher beverage packaging shipments were partially offset by lower automotive and specialty shipments,” the company said in a statement.Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) fell 17% on year to $416 million, while the adjusted EBITDA made on each tonne of steel stood
