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The Sustainability Mafia receives Rs 2 Cr CSR grant from Zerodha

EntrackrEntrackr · 4d ago
The Sustainability Mafia receives Rs 2 Cr CSR grant from Zerodha
Medial

The Sustainability Mafia receives Rs 2 Cr CSR grant from Zerodha The Sustainability Mafia (SusMafia), a non-profit organisation working at the intersection of climate education, early-stage incubation, and ecosystem building, has received a Rs 2 crore CSR grant from Zerodha. The proceeds will be used to build a skilled, climate-aware workforce and enable climate-tech startups to scale solutions that drive measurable impact across critical areas, including air quality, water and sanitation, waste management, carbon reduction, and the circular economy, SusMafia said in a press release. Launched in 2018, The Sustainability Mafia is a non-profit organization that unites entrepreneurs, investors, and leaders to make sustainability the norm by fostering collaboration, building capacity for climate tech, and driving sustainable solutions through goal-oriented programs for founders, investors, and students. The platform functions as a coalition, leveraging shared resources, networks, and expertise to overcome challenges in the climate action space, aiming to launch startups, create climate jobs, and unlock funding for a greener future in India. According to the Bengaluru-based organization, its programs are designed to address critical gaps in the climate ecosystem, particularly the lack of industry-ready talent, early-stage validation support for founders, and trusted platforms that connect innovators with capital, corporates, and real-world pilots. Through its Climate Ninja program, it claims to have trained more than 400 climate professionals, while its early-stage incubation efforts have deployed Rs 1 crore in grants to support emerging climate ventures. Today, this work is anchored by a strong and growing network of over 80 climate entrepreneurs, collectively driving impact across sectors. “Strong climate outcomes emerge when founders, practitioners, and learners have access to the right knowledge and support early in their journey. The Sustainability Engine Foundation is building this connective tissue for the climate ecosystem, and we’re pleased to back their work,” said Nithin Kamath, CEO of Zerodha. The Sustainability Mafia plans to train over 300 Climate Ninjas, supporting more than 20 early-stage climate startups, and convening regional and national ecosystem gatherings such as SusCrunch, bringing together stakeholders across the climate and sustainability spectrum.

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Zerodha Capital clocks Rs 12.5 Cr profit in FY25

EntrackrEntrackr · 7m ago
Zerodha Capital clocks Rs 12.5 Cr profit in FY25
Medial

Zerodha Capital clocks Rs 12.5 Cr profit in FY25 Zerodha Capital, the lending arm of stockbroker Zerodha, posted a net profit of Rs 12.5 crore in the previous fiscal year ending March 2025 from Rs 7.2 crore in FY24. According to an ET report, the firm doubled its income to Rs 36 crore in FY25 from Rs 17 crore in FY24. As per ICRA, this rise in profit was driven by a 3.2X jump in its loan book, which grew to Rs 381 crore in the first nine months of the last fiscal year or 9M FY25. Zerodha Capital provides loans to retail investors by using their stocks or mutual funds as collateral. It runs with a small team and uses the strength of Zerodha’s broking business, which has 81 lakh (8.1 million) active clients on NSE—about 16% of the market. The platform uses this wide customer base to offer loans of up to Rs 1 crore by taking shares or mutual funds as security, lending up to 45% of their value. Most of this is done through digital platforms. Zerodha Capital’s net worth stood at Rs 170 crore with a gearing ratio of 1.4X as of December 2024, which means the company had Rs 1.40 in debt for every Rs 1.00 of its own equity, according to the ICRA. The promoter group is also planning to infuse Rs 125 crore via compulsorily convertible preference shares to support future growth. Notably, Zerodha Capital has nil NPAs since its inception. ICRA has kept Zerodha Capital’s credit rating steady at AA- (Stable)/A1+ and gave the same high rating to its new Rs 100 crore short-term borrowing plan. While ICRA pointed out that the company is still small and relies on a limited set of lenders, it was reassured by Zerodha Capital’s strong backing from the Zerodha Group and its careful approach to lending. Founded in 2021, Zerodha Capital aims to deepen its credit play within the securities ecosystem. However, its future performance remains tethered to market sentiment and regulatory shifts, especially as retail F&O activity—the group’s mainstay—faces tightening norms. Zerodha Capital’s parent company, Zerodha Broking Limited, has reported a net profit of Rs 5,496 crore in FY24, with a return on net worth of 56% during the same period.

Govt rolls out internship scheme on pilot basis; aims to provide 1 cr internship over 5 years

YourStoryYourStory · 1y ago
Govt rolls out internship scheme on pilot basis; aims to provide 1 cr internship over 5 years
Medial

- The government has launched an internship program that will offer financial assistance of Rs 60,000 per year to 1 crore young individuals over five years. - The pilot project, with a total cost of around Rs 800 crore in 2024-25, aims to provide internships to 1.25 lakh candidates during that fiscal year. - The Prime Minister's Internship Scheme in Top Companies will also provide insurance coverage to the interns. - The program will be implemented through an online portal developed by the corporate affairs ministry. - Youth aged between 21 and 24 years, meeting certain conditions, will be eligible to apply for the internship program. - The internship program is set to begin on December 2. - Candidates can register on the online portal starting from the second week of October. - Participating companies will offer internships for a duration of 12 months, with at least half of the period spent in the actual job environment. - The interns will receive a financial assistance of Rs 5,000 per month, with Rs 4,500 disbursed by the government and Rs 500 paid by the company from its CSR funds. - Each intern will also receive a one-time grant of Rs 6,000 for incidentals upon joining the place of internship. - Insurance coverage will be provided to each intern under the government's insurance schemes. - Eligible candidates include those enrolled in online/distance learning programs, as well as individuals with various academic qualifications. - Partner companies will have a dedicated dashboard on the portal to post internship opportunities and provide detailed information on location, qualifications, and facilities offered. - Candidates can register, browse internships, and apply for up to five opportunities based on their preferred sectors, roles, and locations.

Groww receives RBI approval to operate as payments aggregator

EntrackrEntrackr · 1y ago
Groww receives RBI approval to operate as payments aggregator
Medial

Fintech unicorn Groww has received approval from the Reserve Bank of India to operate as a payment aggregator. The firm has joined several fintechs which recently received similar in-principle approval from the central bank. RBI has granted the licence to Groww Pay, the UPI payments platform of broking firm Groww. The licence will allow the Tiger Global and Peak XV Partners-backed firm to facilitate e-commerce transactions through its UPI app. Launched in July last year, Groww’s UPI app allows bill payment services such as making loan and credit card repayments, paying electricity and water bills and DTH recharge, among others. In October last year, Groww surpassed its arch rival Zerodha for the first time in terms of active users. Further, Groww ended 2023 with 7.5 million monthly active users whereas Zerodha and AngelOne had 6.7 million and 5.3 million MAUs, respectively. In terms of valuation, Zerodha stood at the top with $3.6 billion followed by Upstox and Groww with $3.4 and $3 billion, respectively. Last week, Groww’s Mutual Fund also received SEBI’s approval to launch the Nifty Non-Cyclical Consumer Index Fund through a new fund offering (NFO). Groww registered more than 260% jump in its operating revenue to Rs 1,277 crore in FY23, according to startup data intelligence platform TheKredible. The company also posted Rs 448.7 crore profit against Rs 239 crore loss in FY22. Like several fintechs, Groww is also planning to move its domicile to India. Entrackr exclusively reported the development in May last year. Other companies on the list include KreditBee, Pine Labs, Groww, Razorpay, Meesho and Zepto. Most recently, PayU received in-principle approval from RBI to operate as a payment aggregator. Besides PayU and Groww, fintech firms Razorpay, Cashfree, Open, EnKash, Juspay, and Infibeam also received PA licence from the apex banking body.

Zomato receives Rs 803 Cr demand notice from GST

EntrackrEntrackr · 1y ago
Zomato receives Rs 803 Cr demand notice from GST
Medial

Foodtech major Zomato has received a demand notice of Rs 803 crore (nearly $100 million) from the Joint Commissioner of CGST & Central Excise, Thane Commissionerate, Maharashtra. On Thursday, the company received a demand order passed by the Joint Commissioner of CGST & Central Excise, Thane, of Rs 803 crore for the period from 29 October 2019 to 31 March 2022, the company’s filing accessed from the National Stock Exchange shows. The demand order has been received in respect of the non-payment of GST on delivery charges, including interest and penalties. The total amount of Rs 803 crore comprises Rs 401.7 crore each as GST demand and interest/penalties. “We believe that we have a strong case on merits, which is backed by opinions from our external legal and tax advisors. The company will be filing an appeal against the order before the appropriate authority,” the filing further added. Zomato closed at Rs 285.6 (as on 12th December), with the market capitalization standing at Rs 2,75,614 crore (approximately $32.8 billion). The GST demand notice might affect the company’s shares tomorrow. The company recently raised over $1 billion through a Qualified Institutions Placement (QIP) of equity shares. For the fiscal year ending in, Zomato achieved a remarkable 68.5% quarter-on-quarter growth in operating revenue, reaching Rs 4,799 crore in Q2 FY25 from Rs 2,848 crore in Q2 FY24. The company also recorded a 4.8x increase in net profit to Rs 176 crore in the September quarter. Its arch-rival Swiggy posted Rs 3,601 crore of revenue, with a net loss standing at Rs 625 crore during the second quarter of the ongoing fiscal year. The recently listed firm closed at Rs 507.6 per share, with a total market capitalization of Rs 1,13,623 crore (approximately $13.5 billion).

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