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Trade Spotlight: How should you trade DLF, Cummins India, KEI Industries, Poly Medicure, and others on Wednesday?

Money ControlMoney Control · 11m ago
Trade Spotlight: How should you trade DLF, Cummins India, KEI Industries, Poly Medicure, and others on Wednesday?
Medial

The stock market showed positive momentum on August 20, with 1,494 shares advancing against 881 declining shares on the NSE. The Nifty 50 is predicted to reach 24,800 as long as it holds above 24,650. Here are some stock trading ideas for the near term: Poly Medicure is moving in an upward-sloping channel and has bullish indicators, with a target of Rs 2,400. KEI Industries has a positive trend and could reach Rs 4,900-5,000 with a buy-on-dips approach. Vijaya Diagnostic Centre is in a strong uptrend and could move towards Rs 980-990. Cummins India has formed a strong base and could reach Rs 4,100. DLF is showing upward momentum and could reach Rs 950. Lastly, EID Parry India is in a strong uptrend and could reach Rs 880.

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Toy marketplace Snooplay raises pre- Series A1 round led by Pravek Family Office

EntrackrEntrackr · 12d ago
Toy marketplace Snooplay raises pre- Series A1 round led by Pravek Family Office
Medial

Toy marketplace Snooplay raises pre-Series A1 round led by Pravek Family Office Toy marketplace Snooplay has raised Rs 8 crore in a pre-Series A1 funding round led by Pravek Family Office along with participation from other strategic angel investors. Prior to this, the Noida-based company had raised $535K in a seed funding round from Ajay Kumar Gupta and others. The proceeds will be utilized to launch its two proprietary innovative tech products that aim to transform how India discovers, buys, and recirculates toys - through AI, data, and empathy, Snooplay said in a press release. Co-founded in 2019 by Aanchal Mahajan and Brij Raj Singh, Snooplay builds a full-stack, AI-powered toy platform that integrates discovery, purchase, and guilt-free disposal into one seamless ecosystem. The company’s proprietary Toy Intelligence Database—an industry-first effort to map toys to developmental skills, moods, play types, and learning goals. “We are building India’s only toy app that’s serious about play. An app that helps you discover and buy the right toy when your child needs it and lets you trade it in for store credits once they’ve outgrown it. No clutter, no guilt. Just a smarter way to play,” said Aanchal Mahajan, co-founder, Snooplay. Snooplay claims that it houses over 35,000 toys from more than 600 brands, and serves a growing community of Indian parents, collectors and gift-givers. The platform aims to create a single, intelligent loop of smarter discovery and guilt-free exit - making Snooplay the first App in India to build infrastructure around play. Snooplay intends to expand its buyback program in collaboration with NGOs, enabling sustainable toy donations and encouraging conscious consumption. The brand will strengthen its private label offerings across modern retail outlets, e-commerce marketplaces, and curated gifting verticals, while also enhancing its technology, logistics, and operational backbone. The other prominent companies in the toy industry include Funskool, Mattel Toys (India), Simba Toys India, Hamleys (India), Hasbro India, and Lego India.

RockClimber banks on authenticity and quality to tap into India’s beverage market

EntrackrEntrackr · 1y ago
RockClimber banks on authenticity and quality to tap into India’s beverage market
Medial

India has a massive beverage market with many established brands, though several new players, such as Bira, have also made their mark. Considering the sheer size of the market, it’s safe to say that there’s ample scope for newcomers. One such new player is RockClimber. The company creates fruit beverages and fruit spirits designed specifically for India, made from locally grown fruits like jamun, grapes, pomegranate, kiwi, mulberry, and litchi, among others. One of the company’s objectives is to help reduce fruit wastage and create a sustainable ecosystem for farmers and fruit produce. We spoke to Cofounder Hariprasad Shetty to learn more about RockClimber, what distinguishes it from the competition, and the roadmap ahead. Here are the edited excerpts: The beverage market is filled with multiple brands, including some very established ones. How do you plan to stand out from the competition? As a truly authentic fruit based beverage brand, we are committed to using high quality fruits with an experimentative approach to crafting unique fruit combinations that incorporate global flavour trends. This has allowed us to offer a very diverse range of exciting and refreshing beverages while keeping fruits at the center of everything we do. That’s what makes us stand out from the rest of the competition – we see ourselves as fruit experts and our products are fresh and engage with the evolving consumer preferences. So our focus is on delivering an uncompromising product experience. We source the finest fruits from across the country. This commitment to authenticity and quality sets us apart from many competitors who rely heavily on artificial flavors and preservatives. And the traction we have had in the last three years also points to how we have been accepted in the market. [FY 22 7 Cr, FY 23 7 Cr, FY 24 25 Cr, FY 25 60-70 Cr domestic and 30-35 outside India = 100 Cr+ target] 140 strong distributor network across 11 states. 3 million + bottles of beverages sold. 3000 tons of fruits processed sourced from a farmer base of 200,000 small scale fruit farmers producing grapes, pomegranate, pineapple, jamun, strawberry, mango etc. What is your offline and distribution strategy, usually the key to robust growth in your category? Most of the work should happen before Day Zero – the launch day. We recognized early on that a robust distribution network is the backbone of success in this business. We adopted a systematic approach to build our distribution network from the ground up. Mapping out territories and identifying potential distributors and retailers who could penetrate different markets. We only went ahead with experienced and reputable distributors who had an in-depth understanding of local market dynamics and consumer preferences. What is your strategy for online? Are you considering partnerships with any quick commerce platform? Yes, now that we have a headway in the distribution aspect and have achieved product market fit, we are now going to go aggressive on the marketing front especially online channels. What are the incentives for a farmer dealing with your platform other than the convenience of direct sale and price? Farmers are looking for a stable assured source of income every year. Timely procurement of their fruit produce, immediate payments, reduction in time to sale, and providing access to a large pool of buyers are all the benefits farmers get by working with us. We started with 500 tons of fruit procurement, and now at over 5000 tons. We aim for 10X procurement volumes in the next 2-3 years, thereby contributing to 10 times reduction in fruit loss, and hence a direct positive impact on small scale farmers livelihood and stable income generation. As we expand our facilities, we aim to recruit local talent to be part of our company and thereby directly provide employment opportunities as well. RockClimber aims to: Scale to 10,00,000 farmer base in the next 3 years Platform building for farmer outreach, communication, and forecasting Patented mobile fruit processing system Export unit in select locations for UAE and Africa markets You also mentioned entering the UAE and Africa markets. What is your roadmap for global expansion? And why particularly these two markets? We expect 30-35% revenues coming in from global markets in the near term. Particularly markets like UAE are huge on experimentation as consumers there are well traveled and have an international palette. We see a large market opportunity in the innovative – new age beverage category in this region.

VLCC-owned Ustraa reports Rs 50 Cr loss with flat revenue in FY24

EntrackrEntrackr · 9m ago
VLCC-owned Ustraa reports Rs 50 Cr loss with flat revenue in FY24
Medial

Men’s grooming startup Ustraa was acquired by personal care brand VLCC through a share swap and secondary buyout in the first quarter of FY24. However, under the larger group, Ustraa experienced a slight decline in revenue along with an increase in losses. Ustraa recorded a 2.94% decline in its revenue to Rs 94.02 crore in FY24 from Rs 96.87 crore in FY23, according to its annual financial report with the Registrar of Companies. This marginal decrease indicates that it faced challenges in maintaining growth in a competitive market. Ustraa’s 95.08% of total revenue came from the sale of products, which saw a 5.1% decline compared to the previous year. The company also gained Rs 4.7 crore from other sources taking the total income to Rs 94.27 crore in the last fiscal year. On the expenses side, the largest component was the cost of materials, which surged by 63.16% to reach Rs 60.4 crore. Employee benefit expenses saw a decline of 17.5% to Rs 20.94 crore. Advertisement expenses saw a significant reduction by 64.46% to Rs 17.09 crore. In contrast, the commission's costs rose by 43.82% to Rs 10.93 crore. With miscellaneous expenses, the total expenditure of Ustraa stood at Rs 144.6 crore, a 5.11% jump from Rs 137.57 crore in FY23. As a result, Ustraa recorded a 25.27% surge in losses to Rs 50.32 crore for FY24 from Rs 40.17 crore loss in FY23. The company's ROCE and EBITDA Margin stood at 284.01% and -51.16% respectively. On a unit basis, the company spent Rs 1.54 to earn a rupee of operating revenue in FY24. The cash and cash equivalents for Ustraa as of FY24 was recorded at Rs 6.89 crore, compared to Rs 1.17 crore in FY23. No other significant bank balances apart from the cash and cash equivalents were reported for FY24 and the trade receivables for Ustraa was Rs 7.46 crore in FY24. Founded in 2015, Ustraa offers products such as fragrances, hair care, face care, and beard care. Following its acquisition, the company's founders, Rahul Anand and Rajat Tuli, continued to work with the brand while also leading VLCC's D2C initiatives. Before the acquisition, Ustraa had raised over $10 million from investors, including Info Edge, Wipro, and IIFL, among others. The brand directly competes with Beardo, The Man Company, and Bombay Shaving Company. Notably, all these companies are operating at a loss and have either become part of a larger group or sold a significant stake to a major corporation. Bombay Shaving Company registered Rs 182 crore in revenue for FY23 and aims to achieve a topline of Rs 260-280 crore in FY24. Beardo saw a 12.2% increase in its FY23 revenue to Rs 106.6 crore, while The Man Company recorded Rs 115 crore in revenue for FY23. Their audited FY24 results are yet to be released. So far, the Ustraa acquisition seems to be following a predictable pattern of a cut in manpower and advertising costs, and topline stagnation with worsening bottom line. That is nothing odd simply because it is almost a template when a firm is acquired for these events to follow, as acquirers ‘clean up’ legacy issues to try and start on a clean slate by the next financial year. The question is, will Ustraa survive the changes to deliver in the next financial year? Looking at the peer group, while profitability remains a challenge for all, topline growth should not be as difficult, especially if VLCC did the acquisition with a clear plan to infuse funds at a later stage. Where things get really sticky is when the parent firm runs into troubles of its own.

Funding and acquisitions in Indian startup this week [22 - 27 July]

EntrackrEntrackr · 1y ago
Funding and acquisitions in Indian startup this week [22 - 27 July]
Medial

During the week, as many as 22 Indian startups raised around $113.39 million in funding. These deals count 5 growth-stage deals and 8 early-stage deals while 9 early-stage startups kept their transaction details undisclosed. During the previous week, 35 early and growth-stage startups cumulatively raised more $261.21 million in funding. [Growth-stage deals] Among the growth-stage deals, 5 startups raised $49.3 million in funding this week. Renewable energy firm Rays Power spearheaded with its $15.1 million funding. Education loan provider Auxilo, NBFC NeoGrowth, EV company Ather Energy, and wealth and asset management firm Neo followed with $12 million, $11.2 million, $7 million, and $4 million in funding, respectively. [Early-stage deals] Further, 8 early-stage startups secured funding worth $64.09 million during the week. Manufacturer of high precision tooling for aero-engines and airframes Unimech Aerospace led the list followed by wealthtech startup Stable Money, co-working solution provider Incuspaze, quick service restaurant chain Charcoal Eats, and D2C luggage brand Nasher Miles. Provider of smart building solutions Nhance, two-wheeler service provider VOC Automotive, and HR technology platform Umwelt also raised funding. As many as 9 startups did not disclose the funding amount raised are; Pneucons, Godaam Innovations, VedaFit Foods, Aqin Biotech, Mkelly Biotech, Devnagri, WTF, Empyreal Galaxy, and Mayhem Studios. For more information, visit TheKredible. [City and segment-wise deals] In terms of the city-wise number of funding deals, Mumbai-based startups led with 6 deals followed by Delhi-NCR, Bengaluru, Ahmedabad, Bareilly, Hyderabad, Jaipur, Nashik, and Rupnagar. Segment-wise, Agritech and Fintech startups grabbed the top spot with 4 deals each. E-commerce, Manufacturing, and Proptech tech startups followed this list among others. [Series-wise deals] During the week, pre-Seed, Seed, and Series A funding deals led the list with 5 deals each followed by 3 Debt and 1 Angel, pre-Series A, Series B, and Series C deals each. [Week-on-week funding trend] On a weekly basis, startup funding slipped 56.6% to $113.39 million as compared to around $261.21 million raised during the previous week. This is the lowest weekly funding in the last 15 weeks. The average funding in the last eight weeks stands at around $323 million with 27 deals per week. [Fund launches] India Accelerator has launched a new vertical to support cleantech startups with substantial funding. Former defense secretary Ajay Kumar’s VC fund focused on defense, aerospace, and deeptech has successfully raised over its target corpus. Meanwhile, the Fashion Entrepreneur Fund has secured investments from prominent figures like Ravi Jaipuria and Akshay Kumar to empower fashion entrepreneurs in India. [ESOP buyback] Adda247 is buying back shares from over 130 employees at a price 40 times their initial purchase price. This move comes ahead of the company’s planned IPO in 2027. [Key hirings and departures] Ecom Express has strengthened its leadership by appointing Jitendar Kumar as Chief Business Officer and Abhinav Imandi as Senior Vice President. Meanwhile, Swiggy Instamart has expanded its team with key hires including Himavant Srikrishna Kurnala as SVP of Product, Mayank Rajvaidya as VP of Fruits & Vegetables, Manu Sasidharan as AVP of FMCG Category, and Kumar Rahul as AVP of Business Development. Drive FITT, Gupshup, and VC firm 360 ONE Asset Management also witnessed changes in their leadership teams. While, Asia managing partner of Eight Roads Ventures, Raj Dugar has reportedly stepped down after 17 years. [Mergers and Acquisitions] Business advisory firm Riveron has expanded its operations by acquiring Yantra. In the healthcare domain, Thyrocare has strengthened its presence in Northern India through the acquisition of Polo Labs. In the insurance and seafood industries, Acko and Captain Fresh have respectively acquired OneCare and Koral to bolster their market positions and service offerings. [Potential deals] Electric mobility startup Kazam is set to raise a $5 million funding round while Wingreens Farms seeking $4.3 million in debt financing. In the tech space, Glance is in advanced talks to raise $250 million, while Leap Finance is eyeing a $70-100 million round to achieve unicorn status. Additionally, Nykaa is securing Rs 125 crore through non-convertible debentures, as per media reports. Emami is set to acquire 100% stake in The Man Company, marking its entry into the D2C space. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. [New launches and partnerships] Google partners with ElectricPe to bring EV charging stations to Google Maps in India CRED launches financial management platform CRED Money [Financial results this week] Go Digit’s revenue falls in Q1 FY25 but profit spikes 90% Waycool posts Rs 1,251 Cr revenue and Rs 686 Cr loss in FY23 Urban company claims Rs 827 Cr revenue in FY24; 70% cut in losses [Key highlights of the Union Budget impacting startups] Angel tax: The government abolished the Angel Tax for all investors, effective April 1, 2024. This should make it easier for startups to raise funding. Focus on MSMEs: The budget allocated Rs 2 lakh crore to support MSMEs (Micro, Small and Medium Enterprises) with a focus on employment, skilling, and other opportunities. Easier foreign investment: The government plans to simplify rules and regulations for Foreign Direct Investment (FDI) to make it easier for overseas investors to invest in Indian businesses. Changes to tax rules: Non-reporting of movable assets up to Rs 2 lakh will no longer be penalized. While, income from share buybacks by companies will be taxed as dividends for the investor, starting October 1, 2024. [News flash this week] QIA seeks court injunction to halt sale or transfer of Byju Raveendran’s assets UPI in June: PhonePe, Google Pay see marginal decline, Paytm records flat growth Paytm fined for ESOP stamp duty lapses, gets NOD to invest in payments arm Ola Electric to launch IPO on August 2 The RBI fined Ola Financial Services for flouting KYC & PPI norms Delivery startup Dunzo faces new insolvency threat Manipal Group gets green light to increase stake in Aakash Cashfree Payments first to secure RBI’s cross-border payment license Google Maps to offer metro ticket booking in Kochi and Chennai Insurtech startup Covrzy gets broking license from IRDAI [Conclusion] The Indian startup ecosystem experienced a significant slowdown this week with funding plummeting by 56.6% compared to the previous week. While there were notable fund launches and new verticals emerging, the overall funding landscape was subdued. The Indian business landscape has seen a flurry of activity in recent weeks. Fintech giant Paytm has been fined for non-payment of stamp duties related to ESOPs, while simultaneously securing approval to invest in its payments arm. In the education sector, Manipal Health Systems is set to increase its stake in Aakash Educational Services. Bengaluru-based fintech startup Cashfree Payments has become the first company to obtain a Payment Aggregator Cross Border (PA-CB) license from the Reserve Bank of India (RBI). This license allows the company to process online transactions for both imports and exports, boosting cross-border trade and payments in India. Additionally, Google Maps is introducing a new feature that allows users in Kochi and Chennai to book metro tickets directly through the app. This service will be powered by the Namma Yatri app, which handles the payment and booking process. Cash-strapped delivery startup Dunzo is facing another legal challenge. A creditor has filed for insolvency proceedings against the company, claiming that Dunzo has only paid half of its owed dues. This is the latest financial setback for the Reliance-backed startup.

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