40% revenue to come from delivery in 3-6 months: FoodPanda

Food ordering platform FoodPanda has forayed into food delivery segment in the country and expects about 40 percent of its revenues in 3-6 months to come from the new offering.

The company has started the service in five cities and plans to expand it to 10-12 cities by the end of the year.

"An important part of the user experience, apart from the quality of the food, is the delivery. This is what we want to sort out. We will offer delivery of food on behalf of our partners (restaurants) for a fee," FoodPanda India CEO Saurabh Kochhar said.

He further said: "We are still testing out the revenue model (in India) for this whether it will be fixed or order-based, but we expect the delivery business to contribute about 40 percent to the revenues in the next 3-6 months from 20 percent currently." Kochhar added that this service will help partners who do not have a delivery set-up as well as those who are looking at reducing their delivery costs. 

The programme is running in five cities (Delhi, Mumbai, Hyderabad, Pune and Bangalore) and will be expanded to 10-12 cities by year-end, Kochhar said.

He declined to comment on the investment details for the new offering saying it has not "parked a separate amount for this". It did not disclose its revenue numbers either.

FoodPanda, which has a presence in 39 countries, offers delivery in markets like Vietnam, Bangladesh and Singapore, where its restaurant partners do not have their own delivery set up. According to Kochhar, food delivery in India is a USD 15 billion market and only a fraction of that is online. FoodPanda has hired about 500 people for delivering food.

"We will ramp up this number to about 2,000 in the next 3-6 months as the business scales up," he said.

FoodPanda has over 12,000 restaurants across 200 cities on board its platform. Its investors include investment firm Rocket Internet (52 per cent stake), Phenomen Ventures, Investment AB Kinnevik and iMENA Holdings. 

20.07 | 0 komentar | Read More

FIIs cannot expect retrospective exemption: Revenue Secy

Government is at loggerheads with a clutch of foreign investors over levying the minimum alternate tax (MAT). The Centre in the Budget had given MAT exemption prospectively. And speaking to CNBC-TV18's Sapna Das, Revenue Secretary Shaktikanta Das made it clear that FIIs cannot expect retrospective exemption.

Government is at loggerheads with a clutch of foreign investors over levying the minimum alternate tax (MAT). The Centre in the Budget had given MAT exemption prospectively. Speaking to CNBC-TV18's Sapna Das, Revenue Secretary Shaktikanta Das made it clear that FIIs cannot expect retrospective exemption.

Below is verbatim transcript of the interview:  

Q: What are the FII concerns regarding taxation?  

A: The FIIs are requesting an exemption for a prior period. It amounts to asking for a retrospective exemption. Well, nobody likes to pay tax, if there is a tax liability somebody will be concerned but please understand in the proper perspective.

The FIIs approach the government that they have a problem, the government addresses that problem, provided them exemption naturally with prospective effect. By doing so, government has isolated the past problem and government has segregated the future problem.

If you are aggrieved with a particular judicial order, you have to go and appeal to the next higher judicial forum. You cannot expect the government to come in and make an intervention through an executive action or initiate a process of a legislative action to come in between a judicial pronouncement; and a pronouncement which is in favour of the revenue.

Q: Would there be a treaty protection that will be available for investors under the MAT notice especially if you talk about important treaties like Mauritius, like Singapore which also see a huge amount of investment coming into the Indian market? There is a certain regime that the government has already agreed to on that front, so anything on that?

A: We have to look at individual treaties, we will have to look at the kind of investments the nature of investments the FIIs have to make. So, I do not want to make a sweeping remark here but having said that, if tax is paid here, the assessee should be able to get equivalent credit in his own country wherever we have double taxation avoidance agreement. So, you pay the tax here and you can ask for tax credit in your own country.

20.07 | 0 komentar | Read More

Hannover continues to create value for Indian companies

Within the framework of the Make in India initiative, solar company Vikram Solar has begun three new collaborations with leading international research institutes and technology companies from Germany and Switzerland.

The partnerships are intended to further optimize the module production technology at Vikram, make preparations for cell manufacturing at the company, and establish a solar academy in India.

Memorandums of understanding were signed to this effect with Fraunhofer ISE and the companies Meyer Burger and Centrotherm photovoltaics at the world's largest industrial trade show, Hannover Messe.

Fraunhofer ISE in Germany is the biggest solar research institute in Europe, and will assist Vikram Solar with the research and development of industrial scale crystalline silicon solar cell and module processing. The aim is to help Vikram to rapidly expand its manufacturing capability and emerge as one of the largest integrated players in the solar industry.

In addition, Fraunhofer and Vikram Solar are set to collaborate on establishing a solar academy in India, which will serve to impart technical knowledge, expertise, and practical training in solar energy systems. Fraunhofer will deploy technicians and experts to provide knowledge and training to the aspiring individuals of the solar academy.

Headquartered in Switzerland, Meyer Burger is a leading global technology group delivering systems, production equipment and fully integrated system solutions and services along the entire photovoltaic value chain. Vikram Solar already uses Meyer Burger production equipment. In order to further strengthen this relationship, Vikram Solar and Meyer Berger signed an MoU for the provision of selected solar cell and module manufacturing equipment and for collaboration on process improvements in solar cell and module manufacturing, as well as research & development for materials, processes, and device technologies.

Centrotherm AG is a world-class manufacturer of cell production equipment and provides solutions for different levels of expertise across the crystalline silicon solar cell manufacturing value creation chain, specifically for processes, technology, systems, and applications. Within the scope of their partnership, Vikram Solar and Centrotherm have agreed to collaborate by using Centrotherm's production equipment and manufacturing expertise to improve cell efficiency and productivity. 

20.07 | 0 komentar | Read More

MakeMyTrip initiates to encourage visitors to Kashmir

Online travel firm MakeMyTrip is wooing domestic tourists to Kashmir offering attractive packages as it supports the state government to bring back travellers to the valley hit hard by floods last year and recent unseasonal rains.

"The valley is ready to welcome tourists and we assure travellers that a trip to Kashmir is as convenient, delightful and memorable as it was before the floods," MakeMyTrip Chief Business Officer Holidays- Ranjeet Oak told PTI.

Holiday business in the valley was growing at an average of 45 per cent year-on-year and MakeMyTrip expects business to regain lost ground due to floods, he added.

The floods in the valley last year had led to a slowdown in the number of tourists to the valley and had impacted the economy.

"We are looking at a growth of around 45 per cent in number of travellers visiting Kashmir in 2015. In 2014, the Kashmir valley (excluding Ladakh) had 35,000 travellers visiting the state," Oak said.

In order to woo tourists, the company is providing a slew offers for travellers to visit Kashmir, such as 6 days and 7 nights package, covering Srinagar, Gulmarg, Pahalgam and Sonmarg for Rs 24,999 from Delhi.

It is also available from Mumbai, Ahmedabad, Bangalore, Kolkata, Chennai, Hyderabad, Indore and Baroda. Currently, Delhi and Mumbai contribute nearly 60 per cent of all queries received for Kashmir, MakeMyTrip said.

Speaking on the sideline of an event organised to showcase the ground situation in the state, Oak said it was only when tourism in Kashmir is whole-heartedly supported that the region and local economy would grow on a steady path.

MakeMyTrip had also held a vendor-training programme in Kashmir training over a hundred people (drivers, shikara- wallahs, hotel-staff and tour-escorts) in March this year. 

20.07 | 0 komentar | Read More

Indo National: Outcome of board eeting

Indo National has informed that the Board of Directors of the Company at its meeting held on April 15, 2015, has approved the following: 1. Incorporation of a wholly owned subsidiary Company to carry on diversified new businesses in the areas of Defence, Aerospace and Railways.

Indo National Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 15, 2015, inter alia, has approved the following:1. Incorporation of a wholly owned subsidiary Company to carry on diversified new businesses in the areas of Defence, Aerospace and Railways.2. To make investment in wholly owned subsidiary company within the limits specified u/s.186 of the Companies Act, 2013.3. Resignation Mr. V.R. Gupte as Independent Director of the Company.4. Resignation of Dr. S.A. Dave as Independent Director of the Company.5. Reconstitution of the Audit Committee - Mr. Ramesh Rajan, Independent Director, as Chairman of Audit Committee and Mrs. Lakshmi Subramanian as member of the Committee.6. Investment in 2.5 M.W solar power project and sale of solar power to third party.Source : BSE

Read all announcements in Indo-National

20.07 | 0 komentar | Read More

Anar Industries: Outcome of EGM

Anar Industries has informed that the Extra Ordinary General Meeting (EGM) of the Company was held on April 15, 2015.

To read the full report click here

20.07 | 0 komentar | Read More

Onelife Capital Advisors: Board meeting on April 24, 2015

Onelife Capital Advisors has informed that a meeting of the Board of Directors of the Company will be held on April 24, 2015, to consider and approve the appointment of Company Secretary.

Onelife Capital Advisors Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on April 24, 2015, inter alia, to consider and approve the appointment of Company Secretary.Source : BSE

Read all announcements in Onelife Capital

20.07 | 0 komentar | Read More

Petrol price cut by 80 p, diesel to be cheaper by Rs 1.30

This makes it the second reduction in fuel prices this month. Prices of petrol and diesel were last revised downwards on April 2, by Rs. 0.49/litre and Rs. 1.21/litre, respectively (including state levies).

Moneycontrol Bureau

The price of petrol was cut by 0.80 paise per litre and that of diesel was decreased by Rs 1.30 with effect from Wednesday midnight, the Indian Oil Corporation  said in a release.

With this change, petrol will now cost Rs 59.20/litre in Delhi, while diesel price will come down to Rs 47.20/litre (Delhi).

This makes it the second reduction in fuel prices this month. Prices of petrol and diesel were last revised downwards on April 2, by Rs. 0.49/litre and Rs. 1.21/litre, respectively (including state levies). Since last price change, the trend of international prices of petrol & diesel and the rupee-dollar exchange rate warrant a further downward revision in prices, the impact of which is being passed on to the consumers with this price decrease, said IOC in the release.

"The movement of prices in international oil market and INR-USD exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes," it added

IOC stock price

On April 15, 2015, Indian Oil Corporation closed at Rs 372.75, down Rs 4.5, or 1.19 percent. The 52-week high of the share was Rs 410.90 and the 52-week low was Rs 258.80.

The company's trailing 12-month (TTM) EPS was at Rs 34.50 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 10.8. The latest book value of the company is Rs 271.80 per share. At current value, the price-to-book value of the company is 1.37.

20.07 | 0 komentar | Read More

VRL Logistics' Rs 468 crore IPO to open tomorrow

The company has fixed price band of Rs 195-205 per share for its proposed IPO. Based on the price band, the IPO could raise between Rs 451 crore and Rs 468 crore through its initial share-sale programme.

VRL Logistics will hit the capital markets tomorrow with an estimated Rs 468-crore initial public offer (IPO). The bidding for shares in the IPO will open on Wednesday and close on April 17, making VRL Logistics the fourth company to hit the capital markets this year.

The IPO constitutes of a fresh issuance of Rs 117 crore worth of equity shares and an offer for sale of 1.71 crore equity shares by NSR-PE Mauritius LLC and the promoters' family.

The company has fixed price band of Rs 195-205 per share for its proposed IPO. Based on the price band, the IPO could raise between Rs 451 crore and Rs 468 crore through its initial share-sale programme.

The proceeds of the issue would be utilised for expanding the company's existing fleet of goods transportation vehicles, repayment of loan and for other general corporate purposes.

Out of the Rs 117 crore raised through fresh issuance, the company plans to purchase vehicles for Rs 64 crore and repay its debt of Rs 28 crore. Post IPO, promoters' stake would be reduced to 69-70 percent while 25 percent would be held by public and the rest 5 percent would be held by investors. The equity shares are proposed to be listed on both BSE and NSE.

The issue is being managed by ICICI Securities Limited and HSBC Securities and Capital Markets (India) Private Limited. This is the company's second attempt to enter the capital markets.

Earlier in December 2010, the Karnataka-based company had filed draft documents with Sebi for an IPO of 2.35 crore equity shares.

VRL, which has a total fleet strength of over 3,400 vehicles, employs 15,000 people. It provides luxury bus service in states such as Karnataka, Maharashtra, Goa, Andhra Pradesh, Telangana, Tamil Nadu, Gujarat and Rajasthan.

20.07 | 0 komentar | Read More

Indag Rubber standalone Mar '15 sales at Rs 65.79 crore

Mar '15 Dec '14 Sep '13 Net Sales/Income from operations 65.73 59.66 61.56 Other Operating Income 0.06 0.08 0.07 Total Income From Operations 65.79 59.75 61.63 EXPENDITURE Consumption of Raw Materials 40.74 37.80 41.05 Purchase of Traded Goods 0.06 0.06 -- Increase/Decrease in Stocks 0.76 1.24 -1.20 Power & Fuel -- -- -- Employees Cost 4.66 4.45 4.22 Depreciation 0.57 0.57 0.63 Excise Duty -- -- -- Admin. And Selling Expenses -- -- -- R & D Expenses -- -- -- Provisions And Contingencies -- -- -- Exp. Capitalised -- -- -- Other Expenses 8.04 6.53 6.94 P/L Before Other Inc. , Int., Excpt. Items & Tax 10.96 9.10 9.99 Other Income 0.63 0.48 0.16 P/L Before Int., Excpt. Items & Tax 11.58 9.58 10.14 Interest 0.09 0.02 0.08 P/L Before Exceptional Items & Tax 11.49 9.56 10.06 Exceptional Items -- -- -- P/L Before Tax 11.49 9.56 10.06 Tax 2.00 2.13 2.41 P/L After Tax from Ordinary Activities 9.48 7.43 7.65 Prior Year Adjustments -- -- -- Extra Ordinary Items -- -- -- Net Profit/(Loss) For the Period 9.48 7.43 7.65 Equity Share Capital 5.25 5.25 5.25 Reserves Excluding Revaluation Reserves -- -- -- Equity Dividend Rate (%) -- -- -- EPS Before Extra Ordinary Basic EPS 18.07 14.16 14.58 Diluted EPS 18.07 14.16 14.58 EPS After Extra Ordinary Basic EPS 18.07 14.16 14.58 Diluted EPS 18.07 14.16 14.58 Public Share Holding No Of Shares (Crores) 0.13 0.13 0.13 Share Holding (%) 25.23 25.23 25.00 Promoters and Promoter Group Shareholding a) Pledged/Encumbered - Number of shares (Crores) -- -- -- - Per. of shares (as a % of the total sh. of prom. and promoter group) -- -- -- - Per. of shares (as a % of the total Share Cap. of the company) -- -- -- b) Non-encumbered - Number of shares (Crores) 0.39 0.39 0.39 - Per. of shares (as a % of the total sh. of prom. and promoter group) 100.00 100.00 100.00 - Per. of shares (as a % of the total Share Cap. of the company) 74.77 74.77 75.00 Source : Dion Global Solutions Limited

20.07 | 0 komentar | Read More