Author: Abizar Attari
News Editor

Pune: Engineering and energy solutions provider Thermax Ltd. reported an 83% year-on-year decline in consolidated net profit for the first quarter of FY27, as cost overruns and execution delays due to the conflict in West Asia weighed heavily on its earnings. Despite the weak profitability, the company has maintained healthy order inflows, with its order book growing 2% year-on-year to ₹8,809 crore, providing revenue visibility for the coming quarters. Operating Revenues have reached ₹2,303 crore, in the quarter, a 7% increase from last year.  These disappointing earnings have led to a sharp reaction by the markets, with Thermax’s shares falling…

Until the dawn of the new century, real estate developers built homes on a foregone assumption- there will always be someone willing to buy, no matter how far it is from the city. That’s how suburbs started to be built, becoming part of the familiar city we know so well.  For middle-class, salaried employees, the suburbs were the best place to stay- and buying a house became the most important life purchase you made. That’s how our parents secured our futures- with all the comforts of Roti, Kapda aur Makaan required- and with some money left over for emergencies as…

Mumbai: Westlife Foodworld Ltd., McDonald’s master franchisee for West and South India, has returned to profitability in the first quarter of FY27, driven by healthy footfall and sales across its network of restaurants. For the quarter, this has meant a 11.7% year-on-year increase in operational revenues to Rs.73.6 crores, with its Same Store Sales Growth (SSSG) seeing strong 4.3% growth, the best momentum in the recent past. The company’s operating EBITDA has also increased 11% year on year to Rs.94.6 crore, with a 12.9% margin.  The company has seen its demand remain healthy across channels- both dine-in and takeaway, while…

Kolkata: Defence and aerospace engineering company Rossell Techsys Ltd. has reported an operational revenue of ₹154.71 crore for the quarter ended June 30, 2027 as the company has worked on executing its orders with discipline. The defense-focused electronics engineering major currently has a strong order book of about ₹350 crore, with strong revenue visibility for the coming quarters.   For Rossell Techsys, this performance comes at a time when demand for indigenous electronic systems and precision engineering solutions are at an all-time high, supported and encouraged by the government’s Aatmanirbhar Bharat and Make In India initiatives.  With increased emphasis on domestic…

Chennai: Specialty chemicals manufacturer Chemfab Alkalis Ltd. reported a mixed performance for the first quarter of FY27, with revenue from operations declining almost 20% year-on-year to ₹73.2 crore due to lower product realisations and lower sales volumes. However, the company delivered a sharp improvement in profitability, with net profit rising 128% to ₹5.7 crore, supported by stronger operational efficiencies and improved margins. The results highlight the challenges  in the industrial chemical sector, where pricing pressures continued to weigh on topline growth despite the company’s efforts to improve cost management. Revenue impacted by pricing pressures During the June quarter, Chemfab’s revenue…

New Delhi: The Asian Development Bank (ADB) has sanctioned an $850 million loan to support the Government of India’s flagship PM Surya Ghar: Muft Bijli Yojana, boosting the country’s rooftop solar ambitions. The financing forms part of the Manila-based lender’s  broader $1.85 billion commitment towards India’s clean energy transition and urban infrastructure development. This funding is expected to boost the installation of rooftop solar systems across millions of households, helping India reduce dependence on conventional energy sources while improving energy access and lowering electricity bills. Accelerating rooftop solar adoption The PM Surya Ghar Yojana enabled domestic households to generate their…

Mumbai: In a widely expected consolidation move, SML Mahindra will be acquiring Mahindra and Mahindra’s truck and bus business division (MTBD)for ₹525 crore, making a milestone in the group’s strategy to consolidate its presence in the commercial vehicle market. This comes nearly a year after Mahindra and Mahindra acquired a controlling stake of around 59% in SML Isuzu in August 2025, after which the company was rebranded SML Mahindra.  With this, Mahindra and Mahindra now gets its entire truck and bus operations under one roof, creating a more focused entity for the market. The deal, approved by the SML Mahindra…

Bengaluru: The restaurant industry, which saw food delivery aggregators like Swiggy and Zomato as a lifeline against slowing demand, is now up in arms against their arbitrary policies. In Bengaluru, restaurant owners and associations allege that Swiggy and Zomato aren’t heeding to their requests to discuss escalating commissions, mandatory platform discounts, and hidden deductions that they are forced to bear. Restaurant associations claim that operating on feed delivery apps is becoming unsustainable due to these deductions, with restaurants in Bengaluru threatening to boycott them from August 15 if their demands are not met.  Bruhat Bengaluru Hotels Association (BBHA), along with…

Noida: Wind energy solutions provider Inox Wind Limited (IWL) has secured a follow on order from Navratna public sector enterprise NLC India Limited for a 200MW wind power project. The contract involves end-to-end execution of the project, including supply of wind turbine generators, engineering, procurement and construction along with post commissioning, operations and maintenance services as well. The project, worth ₹1,600 crores, has a timeline of 24 months. With this, IWL total order book has now reached 4.7GW, including commercial and industrial (C&I) customers, PSUs and independent power producers (IPPs). This balanced portfolio offers the company strong revenue visibility while…

Mumbai: Shares of Adani Energy Solutions Ltd (AESL) dipped over 3% today, as the markets reacted to the closure of its ₹3,500 crore Qualified Institutional Placement (QIP), which saw robust demand from major institutional investors. The fundraise saw the company attract bids exceeding Rs.10,800 crore, getting oversubscribed 3.1 times.  Key participants included SBI Mutual Fund, ICICI Prudential Mutual Fund, Tata Mutual Fund, HSBC Mutual Fund and insurers like ICICI Prudential Life Insurance and SBI Life Insurance. Besides this, FIIs and family offices like Premji Invest and Manulife also participated in the QIP. As per SEBI regulations, AESL could have expanded…