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<ul><li>With economic actvities resuming gradually across the country, the power consumption data may come as a breather for stocks in the power sector. </li><li>The power consumption in July 2020 was just 2.6% short of the demand exactly a year earlier.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/" data-type="tilCustomLink" target="_blank">Business Insider</a>.</li></ul>The slump in power consumption has narrowed to just 2.64% in July at 113.48 billion units (BU) indicating spurt in economic activity and raised hopes that it would touch normal level this month. Power consumption in July last year was at 116.48 BU, as per power ministry data. The latest data of the power ministry shows that power consumption has improved after government started giving relaxations for economic activities and onset of summer. "The slump in power consumption has narrowed down considerably to 2.6 per cent. It is expected to be at normal level (what it was last year in same month) during August. There could be growth in power demand in coming days with expansion in economic activities," an industry expert told PTI. This data may come as a breather for stocks in the power sector that have been reeling under the pessimism about their prospects in the near term. <table style="width: 226pt;"> </colgroup> <tbody><tr> <td class="xl63" style="height:15.0pt;width:141pt">Stock</td> <td class="xl63" style="border-left-width: initial; border-left-style: none; width: 85pt;">Last one month</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">NTPC</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-9.19%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Reliance Power</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-22.53%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Adani Power</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-1.67%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tata Power</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">8.58%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">JSW Energy </td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-2.65%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">CESC</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-11.65%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Torrent Power </td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.10%</td> </tr></tbody></table> The months of April, May and June this year witnessed low power consumption on account of lower commercial and industrial activities due to COVID-19-related restrictions. However, as the economy slowly reopened, peak power demand met, the highest energy supply during the day across the country, was at 170.54 GW in July, down 2.61% compared to a year ago. <table style="width: 247pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:48pt">Month</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 128pt;">Peak power demand met</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 71pt;">Growth (YoY)</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">April</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">132.77 GW</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-25%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">May </td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">166.42 GW</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-8.82%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">June </td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">164.94 GW</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-9.50%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">July</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">170.54 GW </td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-2.61%</td> </tr></tbody></table> The return of industrial demand will bode well for power distribution companies like Tata Power, Adani Power and Reliance Power, as well as the ones owned by state governments, because they make wider margin on supply to industries than to households. This will ease the stress on the financials and the need for additional loans from companies like Power Finance Corporation and Rural Electrification Corporation of India. <table style="width: 226pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:141pt">Stock</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 85pt;">Last one month</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">Power Finance Corp</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-3.75%</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">Rural Electrification Corp</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-7.35%</td> </tr></tbody></table> An earlier estimate by ratings agency <a href="https://www.livemint.com/news/india/power-demand-to-shrink-3-4-this-fiscal-as-states-return-to-lockdown-icra-11595261269964.html" data-type="tilCustomLink" target="_blank">ICRA had projected a 5% to 6% decline</a> in nationwide demand for power for the full year ending March 2021. With inputs from PTI SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/e-invoice-under-gst-these-businesses-need-not-prepare-electronic-invoices-up-to-a-revenue-of-500-crore-any-more/articleshow/77299435.cms">E-invoice under GST: These businesses need not prepare electronic invoices up to a revenue of ₹500 crore any more</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/e-invoice-under-gst-these-businesses-need-not-prepare-electronic-invoices-up-to-a-revenue-of-500-crore-any-more/articleshow/77299435.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/marutis-july-sales-data-sparks-hope-for-other-carmakers/articleshow/77298443.cms">Maruti's July sales data sparks hope for other carmakers</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/marutis-july-sales-data-sparks-hope-for-other-carmakers/articleshow/77298443.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/here-are-all-the-startups-that-raised-funding-in-july/articleshow/77297781.cms">Here are all the startups that raised funding in July</a>

Watch out for stocks like Adani Power, Tata Power, PFC and REC as electricity consumption nears pre-COVID levels

<keyword id="19990482" type="General" weightage="20" keywordseo="power-finance-corporation" source="keywords">Power Finance Corporation</keyword> (<keyword id="20058831" type="General" weightage="20" keywordseo="PFC" source="keywords">PFC</keyword>) on Wednesday posted over 23 per cent rise in consolidated net profit at Rs 7,556.43 crore for March quarter FY24 on account of growth in loan portfolio. It had clocked Rs 6,128.63 crore profit from "continuing and discontinued operations" during the fourth quarter of last fiscal, the company said in an exchange filing. Total income rose to Rs 24,176.34 crore from Rs 20,074.11 crore in January-March FY23. Expenses were at Rs 14,579.16 crore as against Rs 12,312.29 crore a year ago. The company logged the highest annual profit of Rs 26,461 crore in FY24, up 25 per cent from Rs 21,179 crore in FY23. Its consolidated loan asset book increased to Rs 9,90,824 crore as on March 31, 2024, up from Rs 8,57,500 crore a year ago. PFC's consolidated net worth (including non-controlling interest) increased 20 per cent from Rs 1,11,981 crore as on March 31, 2023 to Rs 1,34,289 crore as on March 31 this year. The company's total balance sheet size crossed Rs 10 lakh crore in FY24. Consolidated gross NPA was at 3.02 per cent in FY24 as against 3.66 per cent in FY23. The board also approved the final dividend of Rs 2.50 per share. With this, the total dividend for FY24 would be Rs 13.50 per share. <keyword id="21668447" type="General" weightage="20" keywordseo="cmd-parminder-chopra" source="keywords">CMD Parminder Chopra</keyword> said,"This strong performance is backed by a 14 per cent growth in our loan portfolio while retaining a strong asset quality. Our Net NPA levels reduced from 1.07 per cent in previous financial year to 0.85 per cent currently. Maximizing shareholder value remains a priority." PFC's renewable loan portfolio grew 25 per cent year-on-year to over Rs 60,000 crore, she said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank">Virat Kohli-backed Go Digit IPO subscription opens today — all you need to know</a><a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank">TVS iQube gets a new variant priced under ₹1 lakh, ST variant gets a bigger battery</a><a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank">Qualcomm Snapdragon 8s Gen 3 chipset to debut in India with the Poco F6</a>

PFC Q4 profit grows 23% to ₹7,556 crore

(Image source- Reuters) <ul><li>The board of the state-owned <keyword id="6356834" type="COMPANY" weightage="20" keywordseo="indian-oil-corporation">Indian Oil Corporation</keyword> (IOC) has approved a plan to buy back a little over 3% of its total equity shares. </li><li>The fuel retailer will spend around ₹44.4 billion on the buyback plan, culminating in its largest buyback in 17 years. </li><li>The move also includes a dividend payout of ₹6,75 per share, resulting in a total payout of ₹65.6 billion. </li><li>This will result in a huge cash infusion for IOC’s shareholders, especially the central <keyword id="26362" type="ORGANIZATION" weightage="20" keywordseo="Government">government</keyword>, which holds a 54% stake in the oil firm. </li></ul>On 13 December, the state-owned Indian Oil Corporation (IOC) <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/22e1d47f-e2d1-4ec5-b78c-f27d5217edb5.pdf">announced</a> in a stock exchange filing that its board had approved a plan to buy back a little over 3% of its total equity shares. India’s largest fuel retailer will spend around ₹44.4 billion on the buyback plan, culminating in its biggest buyback in 17 years. The move also includes a dividend payout of ₹6,75 per share, resulting in a total payout of ₹65.6 billion. It will result in a huge cash infusion for IOC’s shareholders, especially the central government, which holds a 54% stake in the oil firm. However, it could add unnecessary strain to IOC’s finances. At the end of September 2018, it had total debts of <a href="https://iocl.com/download/Q2Results18-19.pdf">around ₹600 billion</a>, compared with a paltry cash balance. It remains to be seen how exactly it will fund the transaction, but it will likely incur a lot more <keyword id="44647" type="ORGANIZATION" weightage="20" keywordseo="debt">debt</keyword>. This, coupled with its <a href="https://www.firstpost.com/business/indian-oil-corps-net-debt-levels-to-rise-due-to-large-capital-expenditure-and-investment-plans-in-medium-term-fitch-4752471.html">high capital expenditure plans</a> in the medium term, could leave it a rather unviable position. The impetus behind the transaction is to help the government, acting through the the Department of Investment and Public Asset Management (DIPAM), meet its <keyword id="44532" type="PERSON" weightage="20" keywordseo="Disinvestment">disinvestment</keyword> target of ₹800 billion for fiscal 2019. It has reportedly collected 68% of that amount so far this year. The DIPAM is reportedly planning to earn as much as ₹50 billion from share buyback programmes of large state-owned enterprises energy firms like Coal India and Bharat Heavy Electricals, according to the Press Trust of India. As per a government order, all public sector enterprises with a cash balance of over ₹10 billion have to undertake share buybacks. Last week, the government also decided to sell a 52.63% stake in infrastructure financier Rural Electrification Corp (REC) to another state-run power lender, Power Finance Corporation (PFC). However, just like IOC, the issue of debt could be a problem here. PFC will have to raise a significant amount of debt to finance the purchase, a tough ask for a firm weighted down by ₹283 billion worth of gross non-performing loans. SEE ALSO: <a href="https://www.businessinsider.in/heres-why-the-indian-governments-intervention-to-stop-rising-fuel-prices-may-only-be-a-temporary-relief/articleshow/66082071.cms">Here’s why the Indian government’s intervention to stop rising fuel prices may only be a temporary relief</a> <a href="https://www.businessinsider.in/indias-reliance-is-teaming-up-with-bp-in-a-move-that-could-send-the-countrys-state-owned-fuel-giants-into-a-tailspin/articleshow/66331991.cms">India's Reliance is teaming up with BP in a move that could send the country's state-owned fuel giants into a tailspin</a> <a href="https://www.businessinsider.in/indias-government-is-asking-its-largest-oil-company-to-sell-fuel-below-global-prices/articleshow/64300993.cms">India’s government is asking its largest oil company to sell fuel below global prices</a>

India’s largest fuel retailer is undertaking its biggest share buyback since 2001 in order to help the central government meet its disinvestment target

New Delhi, Mar 15 () Following are the top business stories at 1850 hours: DEL7 BIZ-PETROL-PRICEPetrol price cut by 12 paise/litre, diesel by 14 paiseNew Delhi: Petrol price was on Sunday cut by 12 paise a litre and diesel rates by 14 paise as oil companies moderated rate reduction amid the fall in global prices to absorb the hike in excise duty on fuel by the government.DCM8 BIZ-YES BANKYes Bank says NPA troubles to continue in FY21; capital infusion makes CEO-designate confident of surviving stormMumbai: Yes Bank expects pressures from sour loans, which led it to declare the highest loss for any private sector lender at Rs 18,654 crore for the December quarter, to continue even in FY21, but CEO-designate Prashant Kumar is confident of its survival after a Rs 10,000-crore capital infusion. DEL29 BIZ-AUDITORSIndia's audit space cannot have 'one-size fits all' approach: Corp Affairs SecyNew Delhi: Asserting that "one-size fits all" approach cannot be put in place for the complex audit industry, Corporate Affairs Secretary Injeti Srinivas has said the potential of conflict of interest needs to be addressed and made it clear that whoever is practising audit in India will have to be regulated under the country's regulations.DCM1 BIZ-FPI-OUTFLOWCorona scare: FPIs press panic button, withdraw Rs 37,976 cr from Indian mktsNew Delhi: Foreign portfolio investors (FPIs) have withdrawn a whopping Rs 37,976 crore on a net basis from the Indian markets in March so far amid the coronavirus pandemic triggering fears of a global recession.BIZ-IDFC BANK-YES BANKIDFC First to invest Rs 250 cr in Yes BankNew Delhi: IDFC First Bank on Sunday said it will make an equity investment of Rs 250 crore in beleaguered Yes Bank to acquire 25 crore equity shares. DCM14 BIZ-RENEWABLENow RE developers' letter of comfort from PFC, REC, IREDA at par with bank guaranteeNew Delhi: To improve business environment for clean energy projects and attract investments, the government has decided to treat letter of comfort (undertaking) issued by state-run shadow banking firms PFC, REC and IREDA at par with bank guarantees. DCM13 BIZ-CALL-DATA-RECORDDoT units seeking bulk call data record in routine, telcos raise concernNew Delhi: Some units of the telecom department are seeking huge call data records of people in some circles on a routine basis which is alleged to be in deviation from the standard operating procedure laid down by the government, according to sources. RVK

Business highlights

New Delhi, Jan 27 () The government is planning to raise at least Rs 10,000 crore through the seventh tranche of CPSE ETF which will open for anchor investors on Thursday.
 Central Public Sector Enterprises ETF runs a concentrated portfolio with a handful of stocks having weights of as high as 20 per cent on the underlying index. The portfolio is concentrated towards the energy and oil sector.
 The issue will open for anchor investors on Thursday and for other institutional and retail investors, the next day-- Nippon Life India Asset Management-- which has been mandated to manage the CPSE ETF on behalf of the government, said in a statement.
 Besides, the investors would get a 3 per cent discount over the issue price, it added.
 The sixth FFO (further follow on offer) or seventh tranche will have a base issue size of Rs 10,000 crore with a greenshoe option to retain a portion of the oversubscription.
 Retail investors can invest a minimum of Rs 5,000, while non-institutional investors and qualified institutional buyers (other than anchor investors) can invest a minimum of Rs 2 lakh. The minimum investment for anchor investor is fixed at Rs 10 crore.
 The decision to launch seventh tranche of CPSE Exchange Traded Fund (ETF) has been taken after receiving robust response for earlier stake sale by the government in the product.
 Through the earlier six tranches of the CPSE ETF, the government has already raised about Rs 50,000 crore; Rs 3,000 crore from the first tranche in March 2014, Rs 6,000 crore in January 2017, Rs 2,500 crore from the third in March 2017, Rs 17,000 crore in November 2018 and Rs 10,000 crore in March 2019 and Rs 11,500 crore in July 2019.
 Nippon Life India Asset Management, formerly known as Reliance Nippon Life Asset Management, had already filed 'scheme information document' for sixth FFO of CPSE ETF with markets regulator Sebi.
 The CPSE ETF tracks shares of 11 CPSEs -- ONGC, NTPC, Coal India, IOC, REC, PFC, Bharat Electronics, Oil India, NBCC India, NLC India and SJVN.
 The proceeds from the ETF will help the government meet its disinvestment target of Rs 1.05 lakh crore for the current financial year. It had aimed to garner Rs 85,000 crore through disinvestment in the preceding financial year. SP SHW
SHW

CPSE ETF's 7th tranche to open on Thursday; govt to raise Rs 10,000 cr

<ul><li>British cosmetics brand The <keyword id="13496722" type="General" weightage="80" keywordseo="body-shop" source="Orion">Body Shop</keyword> has had a presence in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> for over 16 years now and it looks at India as a critical market.</li><li>We talk to <keyword id="812268" type="General" weightage="50" keywordseo="vishal-chaturvedi" source="Orion">Vishal Chaturvedi</keyword>, Vice President, The <keyword id="6362988" type="General" weightage="100" keywordseo="body" source="Orion">Body</keyword> Shop India who walks us through the brand's journey in India so far, its strategies that have helped it grow here and its plans for the future.</li></ul> Over the last few years, and especially in the last 2 years of the pandemic, there has been a change in the beauty industry. Despite the setback due to the pandemic, the beauty industry is going back towards normalcy. Attractive social media marketing, beauty influencers and e-commerce platforms have brought brands closer to consumers. While 2 years back, most of us would not be comfortable buying cosmetics online, the pandemic changed that, and it will help the larger market in the long-run. Another change the pandemic brought about in the minds of consumers is a move towards using brands that use more natural ingredients in their products. Consumers are also choosing to opt for brands that have a larger brand purpose. British-born, ethical cosmetics company The Body Shop has been in India for the past 16 years. It was one of the early brands that attracted consumers due to its range of naturally-inspired cosmetics and toiletry products. For years, the brand has been pioneering the philosophy that business can be a force for good, and has been launching new standards of ethics in business. In the past few years, the brand has seen healthy growth in India. While its presence on ecommerce platforms like Nykaa and now on Myntra and Amazon helped it take its products closer to its consumers, it also adopted strategies like 60 minute door-to-door delivery and WhatsApp shopping to cater to mass customers. To understand the brand’s journey in India more closely, we spoke to Vishal Chaturvedi, Vice President, The Body Shop India. He told us how the brand has fared in India in the last 16 years, its strategies that have helped it grow here and its plans for the future. Excepts: Q) Walk us through The Body Shop's journey in India. It's been 16 years since the brand entered the Indian market. How have things been? Over the years, the beauty industry has changed a lot, especially in last two years. Beauty is now breaking standard norms and redefining it as an approach to self-expression. encouraging more about ‘How you feel’ in your skin and hence breaking standard beauty norms. There is a rapid rise of beauty technology, product innovations &amp; modes of selling. It’s also noteworthy that the millennials &amp; Gen-Z are driving the change. Digital transformation and emergence of technology has driven reach and penetration. Physical retail stores continue to be the heart of consumer experience, sensorial experience, education and trust operated by human connection. Our omni-channel strategy has helped address the new emerging scenarios to address customer queries and reach them at their convenient channel. Further, consumers are actively seeking product knowledge, source of ingredients, packaging details and identifying with the brand’s core purpose. Issues related to sustainability, inclusivity, adaptability, empathy and relevance are evaluated while making purchase decisions. At the Body Shop, we have targeted focus with a robust omni-channel strategy including an overall digital and offline presence. Bringing touch-and-feel of products to digital portals and experiential stores with technology will be the beacons for the future. Further, it’s our quest to advocate for Profit with Principles while being accessible and affordable. In these times of great social and environmental inequity, we believe that our purpose has ability to bring change. Q) What has The Body Shop's marketing strategy in India been? The beauty segment has become very cluttered in the last few years. How has the brand made a place for itself in the clutter? The Body Shop is a disruptive beauty brand with an edge in the Indian market. We have constantly researched &amp; provided for the changing market trends while keeping the customer at the forefront and helping the planet. Community Programs: Our commitment to be a purpose-driven business has kept grounded to our activist roots. There is credible work done around plastics, tackling waste, packaging &amp; sustainability. World’s first community fair trade program is the core of our DNA for over 40 years. Similarly, we have worked on social activism raising the voice of less privileged communities and dealt with environmental impacts of plastic waste effectively. Communication Channels: In current times, the lines are blurring between digital &amp; physical. Beauty shopping is not restricted to one and in fact, the integration of two is a must to cater audience needs. We have focused our energies on servicing our consumers swiftly as well as digitally enabling our site to deliver an experience at par to that of our stores. Other steps include free samples of consumers’ choice on every order; Live Chats with personal skincare experts and AI driven product recommendations. Collaborations: Evidently, influencer collaborations enhance the content engagement. It also gives a window to reach audiences in varied demographics&amp; geographies. Our Chief Brand Advocate, Sanya Malhotra is self-made, independent, outspoken personality with very strong cinematic choices truly inspiring the young women of the country. She also leads The Body Shop’s SWAD (Squad with a difference) with faces from different backgrounds who come together and fuel our fight for fairer, beautiful world. Third Party Channels: Our collaboration with Nykaa for the past 8 years has proved to work wonders. And now with Amazon and Myntra we’ve made our way to even the remotest corners of the country. After the pandemic, to cater to mass customers, we started door-to-door delivery in 60 minutes and launched WhatsApp shopping. All these initiatives are working in our favor to place ourselves in the cluttered market. Q) The pandemic has thrown a lot of challenges to retail brands across the globe. How did you navigate these challenging times? The pandemic has been a period of learning for the brand. It gave us the time and chance to carefully evaluate consumer behaviour and outlook in order to plan strategically for the future. We were able to understand our customer’s needs better. We have learned to be agile and nimble. Despite the economic magnitude of the lockdown, the beauty industry may have proven to be reasonably resilient with the new emerging normal. In the past two years of the new-normal, the consumers adapted to new channels and wellness routines. Personal hygiene and beauty trends had an uptick because people spent more time on themselves. The increased awareness around beauty and self-care presented the brand with a great niche and campaigns like 'Self Care Sunday' or 'Spa at Home' were very well received by the audience. We also revamped our digital presence by building a consumer-friendly digital store that is complete with cutting-edge technology and a user-first interface. In an attempt to reach customers, we expanded our social media presence with tools to assist hands-on product experience. Digital and social channels have been at the forefront of consumer engagement Anytime, Anywhere shopping service for customers, via Social commerce, WhatsApp Shopping, Assisted Sales, Home delivery, going beyond Express Delivery to 2 hours’ delivery, Expert Chats, Live video consultations and so on. Technology played a vital role in navigating through these times by helping our customers make the right decision in absence of product touch &amp; feel experience. As a result, we are now catering an addition of 5000+ pin codes, we’re now serving over 30,000 pin codes across the country. Q) How are you expanding your retail presence? What are your plans for this year? Post pandemic the dynamics have changed. Large parts of our customers have moved towards online shopping but retail stores are the heart and soul of our brand. With things now opening up again, we are geared up to provide an even better shopping experience to our customers. The need for human connection is now stronger than before and the consumers will look for sensorial experience, physical interaction, engagement, touch &amp; feel of the products and seek personalized consultation at the stores. With this vision, we are moving ahead to open 25 new stores in 2022 in various locations. Our future plans include bringing the activism in the very heart of the brand, that is retail stores. We are excited to launch the new Activist Workshop stores where customers c<a name="_GoBack"></a>an explore and discover how they ‘can fight for a fairer and more beautiful world’. On the product front, we aim to turn completely Vegan by 2023. Additionally, we are constantly focused on making our product packaging 100% recyclable thus reducing our environmental impact. Q) How are you going deeper into the country? What kind of sales are you witnessing from smaller cities? Are you also focusing more on increasing your offline presence in Tier II and Tier III cities? Rising awareness amongst consumers, increased incomes coupled with explosion in the presence of digital platforms the demand from Tier II &amp; III cities has increased manifolds. Customers believe in buying less but buying quality. The appetite to spend in these smaller cities is increasing and customers are becoming more conscious about what to use for their skin and body. Additionally, post pandemic, a great chunk of people have shifted back to their hometowns from metro areas. However, they are still looking for their favourites for personal use. Keeping up with the need of our customers we have a robust plan of opening 25 new stores in FY 2022. 70% of these stores will be opened in other Tier II cities like Indore, Bhopal, Patna and Shimla. Q)Over the past few years, there has been a movement towards cruelty-free products. How has this helped you build your brand narrative? Since its inception in 1976, The Body Shop is a cruelty free brand. We believe and fought the cause that animals should not be used for cosmetic testing. Therefore, all the ingredients are ethically sourced and have never been tested on any animal. The Body Shop passionately believes that no animal should be harmed in the name of cosmetics and that animal testing on products and ingredients is outdated, cruel and unnecessary. This is why The Body Shop and Cruelty Free International partnered to deliver the largest and most ambitious campaign ever to seek a global ban on the use of animals to test cosmetic products and ingredients. In June 2017, The Body shop India launched itsForever Against Animal Testingcampaign with Cruelty Free International and became the first international beauty brand to campaign against animal testing in cosmetics globally. Additionally, all our products are 100% Vegetarian and over 60% of our products are 100% Vegan. This includes best-selling ranges such as the Tea Tree skincare range, Himalayan Charcoal Purifying Glow Mask, Body Yogurts and now the iconic Body Butters launched in November 2021. All our new launches are 100% Vegan. Our new haircare range is certified by The VEGAN society and packaged with fully recycled plastics The Vegan Society takes an extremely thorough approach to certification and contact is made with every supplier and manufacturer of raw materials within the product catalogue. For The Body Shop, that’s over 3,700 raw materials. Once each raw material has been meticulously investigated, each product is reviewed in totality to make sure it is fully compliant. Only then does a product receive Vegan Trademark certification. We are working toward 100% of all Products becoming Vegan by 2023 keeping in line with our commitment to reduce impact on planet. The Body Shop is one the first cosmetics brands to prohibit testing on animals, and also the first company to introduce Fair Trade to the beauty industry. Our customers appreciate the environmental friendliness &amp; social stand of the company and identify with The Body Shop in consequence. Q) What gives you an edge over other brands in the segment? We are not just a brand but a legacy. Years before The Body Shop opened its 1st store in India, The Body Shop International has had a long commitment to India and its communities. <keyword id="2755263" type="General" weightage="50" keywordseo="anita-roddick" source="Orion">Anita Roddick</keyword> had a connection to and faith in India. We were way ahead of many of our competitors today, to enter and make a mark in the market. With our constant efforts, we are able to sustain that relationship with our customers. We believe in assisting them in the best possible ways by understanding their needs and providing them with products that are economical and can be used guilt-free. Q) You say the brand remains staunchly feminist, one that advocates for the right of women and girls everywhere. Can you give me a few examples of the things you have done in this regard in India? In sync with the vision of our founder, The Body Shop champions equality and serves as a voice for young girls and women across the globe. We’re committed to advocate for equal rights, self-love and body acceptance as few of many social causes we fight for. Through our activism, we campaign to make the world a fair and safe place for women and girls. ●In March 2021, we started a mission to end period shame in collaboration with CRY. #DropthePword aimed at raising awareness about Periods, Period Shame, and the impact of Period Shame on India's girls &amp; women. Through this partnership, we aimed to normalize the conversation around periods and raise funds towards menstrual health and education efforts for communicating deeply affected by the pandemic. We aimed to provide menstrual health awareness, education, and free menstrual products to 10,000+ people across 4500 households. ●In October 2020, The Body Shop India partnered with Plastics for Change (PFC) India Foundation to launch project N.A.R.I (Nutrition, Ability, Retraining, Inclusion).The objective of this project was to support female empowerment and sustainability with our focus on female waste pickers, who were the invisible frontline Covid19 warriors. We have raised funds to support these women by voluntary customer donations and an equal amount was donated by us. ●With Stop Sex Trafficking of Women and Young Children, we engaged with our customers, friends, and family across the globe, we have raised awareness and funds. We were elated when India ratified the United Nations Convention against Transnational Organized Crime including Prevention and Punishment of Trafficking, particularly Women and Children. Q) Going ahead, what will your areas of focus be to capture a bigger market share in India? How important is the Indian market for the brand in the global scheme of things? India is a country of diverse people and that is its biggest strength. We have a great diversity of faces, skin tones, beauty regimes, rituals, preferences, and regional beauty traditions, which is a unique opportunity for us. They are also well aware about the ingredients, heavily relying on digital and social media platforms and growing consumption of do-it-yourself (DIY) content. Affordability is key for the customers while demanding high levels of product innovations. As a result, we are investing in video content and reinforce it with a good-quality website. Also, we plan to leverage technology to mimic offline experiences. We use more plant-based and recycled plastic which encourages people to reuse, recycle and repurpose. Our long-term goal is to create a circular packaging strategy, which involves recycling or repurposing all of our product packaging. The customers are being transparently educated about ingredients, packaging and sustainability efforts via Omni channel strategy. Our competitive pricing strategy for India is part of an ambitious plan to expand its reach to more people and smaller cities in quick time. This makes us more affordable and more accessible amongst the millennials across the Tier II and III cities.

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