<ul><li>Tech Mahindra, one of India’s tech giants, is going to be working on Airbus planes. </li><li>The company will help the European aircraft manufacturer with engineering its cargo and cabin design. </li><li>The skills and specialisation will help Tech Mahindra get a foothold in the aircraft cabin interiors market set to hit $40.81 billion by 2025. </li></ul>Tech Mahindra, one of the largest tech companies in India, is going to be working on Airbus planes. It has signed a multi-year contract with the European aerospace company to engineer its cargo and cabin design. <div type="twitter" handle="anandmahindra" handlename="anand mahindra" image="http://pbs.twimg.com/profile_images/1053583782584807425/-7IRmY5u_normal.jpg" favoritecount="306" retweetcount="24" status="Forgive me for being ‘late to the party’ @FranceinIndia but this is definitely worth celebrating. It illustrates th… https://t.co/hj9xIiH9jU" createdat="1564654607000" id="1156871389472628736"></div>

 Tech Mahindra can stated that its specialised skills and competencies will help it expand its cabin engineering business. It will help the company get a foothold in the aircraft cabin interiors market that’s set to hit $40.18 billion by 2025 at an annual growth rate of 5.87%, according to <a href="https://www.researchandmarkets.com/research/ptp9sj/40_bn_aircraft?w=12">Research and Markets.</a> Will the aviation sector growing as a whole and the demand for flights increasing as prices drop, the demand for technologically advanced aircraft cabins is also increasing. Airlines have also realised that it’s better to customise aircraft cabin interiors according to their requirements before the aircraft is delivered rather than trying to retrofit it later. Demand for a feature rich cabin The primary challenge facing aircraft manufacturers today is how to reduce the weight of aircraft seats and how to increase the capacity of cabins. And, uninterrupted in-flight connectivity has also become a must since entertainment revenue has become a secondary source of revenue for airlines. Every airline wants to offer as many features as possible in-flight but there are strict safety regulations that have to be adhered to. Companies like Tech Mahindra carry out the research and development required to bring in features like mood lights, LED lights, smart galleys, flat beds and flexible cabin dividers into an aircraft cabin without compromising on safety. Tech Mahindra currently <a href="https://www.techmahindra.com/industries/Enterprise/Manufacturing/Service_Offerings/aerospace_defense.aspx">serves</a> five of the top eight aircraft manufacturers in the world. In the past, Tech Mahindra has signed with Bombardier Commercial Aircraft to help them develop the Aircraft Ground Support System (<a href="https://www.techmahindra.com/media/press_releases/Bombardier-Selects-Tech-Mahindra-as-Supplier.aspx">AGSS</a>) for the company’s Aircraft Health Management System (AHMS) on their C-series of planes.

An Indian tech company will help Airbus design its aircraft cabins

<ul><li>After a blockbuster third quarter, analysts are bullish on the performance Indian IT companies between January to March as well.</li><li>Tata Consultancy Services (<keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword>), HCL Technologies, <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> and others are expected to report the best fourth quarter in the last five years.</li><li>After Accenture’s increase in guidance, analysts are watching Indian players to see how they change their revenue outlook for the future.</li></ul>As 2021 unfolded, India’s information technology (IT) services majors including Tata Consultancy Services (TCS), HCL Technologies, Infosys, <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> and Tech Mahindra — the top five players in the software and services industry — reported the best quarter in a decade. It turns out that the market expects the following three months, January to March 2021, to be as exciting, if not better. This would be the best fourth quarter for the top-tier IT giants in the last five years, the analysts at Motilal Oswal said in a report dated April 4. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Broking firm </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan-March growth estimate for tier-I IT companies </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.5% to 3.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Direct </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% to 4.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2% to 6% </td></tr></tbody></table>Growth estimates are in comparison to the earnings for the quarter ended December 2020 The consensus among IT analysts is that the previous record will be broken. After Accenture raised its full year guidance from 4-6% to 6.5-8.5% in US dollar terms, all eyes are now on how good the outlook is for others. “The upward guidance revision by IT companies three quarters ago would be followed by upgrades in consensus forecasts for quarters to come,” said financial services firm Edelweiss in its April 1 report. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Annual revenue guidance for FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Does not give guidance </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2-3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.5-3.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.5-5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Has not shared guidance </td></tr></tbody></table> Not only are these companies continuing to rake in new deals, but a strong dollar⁠ — 2.99% rise in the value of the greenback in the last one year ⁠— means they will be pulling in higher revenue in rupee terms. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">New deals from January to March 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vodafone, ThreeUK, Skanska </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Siemens, Toyota, Newmont, Google </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Airbus, Tenneco </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Capco, Ampion, Telefonica, Estee Lauder </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telefonica, Perigord </td></tr></tbody></table>Source: Media reports The impact of wages hikes TCS, <keyword id="141968" type="CITY" weightage="20" keywordseo="HCL-Tech">HCL Tech</keyword>, Infosys and Wipro are likely to register a decline in margins due to the wage hikes announced between January and March. Margins may also bear the impact of employees slowly returning to offices as the hybrid work model comes in play. This includes higher offshoring, lower subcontractor costs and structurally lower travel and marketing costs. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wage hike </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Time of roll out </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6-8% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹700 crore bonus </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100% variable pay, salary increments and promotions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wage hikes for junior employees </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Salary hike </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 2021 </td></tr></tbody></table> Meanwhile, the pandemic and the demand for contact-less solutions, both on the employee and customer front, are continuing to move up timelines of digital transformation. “Strong need for digital transformation, not only to structurally cut costs but also to deliver contact-less consumer and employee experiences,” said Nirmal Bang in its report dated March 19. The stocks of TCS, HCL Tech, Infosys and others have already clocked in a greater quarter between January and March on the back of digital transformation and deal wins. Going forward, guidance may be the differentiating factor for where the share prices will be heading next. <div type="image" title="Copy of wipro share price(1)" msid="81908773" hostid="261" caption="&amp;lt;p&amp;gt;Nify IT movement between January to March&amp;lt;/p&amp;gt;"></div> SEE ALSO: <a href="https://www.businessinsider.in/india/news/heres-a-look-at-what-is-allowed-and-what-is-not-allowed-during-the-maharashtra-lockdown-again/articleshow/81907207.cms">Here’s a look at what is allowed and what is not during the weekend lockdown and night curfew in Maharashtra</a> <a href="https://www.businessinsider.in/tech/mobile/news/lg-electronics-exits-smartphone-business-world-wide-lg-smartphone-timeline-history/articleshow/81908186.cms">LG Electronics exits the smartphone business – here’s how its mobile fortunes swayed over the last two decades</a> <a href="https://www.businessinsider.in/business/startups/news/pepperfry-co-founder-ashish-shah-gets-candid-about-its-ipo-plans-says-profitability-is-right-around-the-corner/articleshow/81908005.cms">Pepperfry co-founder gets candid about its IPO plans, says profitability is right around the corner</a>

Record breaking quarter for Indian IT services is a given ⁠— all eyes are now on guidance

<ul><li>A start-up named ‘<keyword id="1081249" type="General" weightage="20" keywordseo="climes" source="Orion">Climes</keyword>’ helps brands like TEDx, MakeMyTrip, Zingbus and Wedding Brigade reduce their carbon footprint.</li><li>Its fintech-enabled marketplace incentivises the movement of capital from individuals at points of consumption.</li><li>The company claims to have neutralised around 46,000+ kg of carbon emissions across five large-scale events, including weddings.</li></ul>At a time when the start-up ecosystem crawls through a harsh funding winter, sustainable investing has continued to thrive and promote innovative green start-ups. Climes — a company that helps brands like TEDx, MakeMyTrip, Zingbus and Wedding Brigade reduce their carbon footprint — raised a million dollars on Tuesday, July 5. The $1.2 million round saw participation from Sequoia Capital India, Kalaari Capital, Avaana Capital, and even the <keyword id="759851" type="General" weightage="20" keywordseo="zerodha" source="Orion">Zerodha</keyword> cofounder Nithin Kamath. Climes — founded by former Airbus executive Anirudh Gupta and former investment professional at Kalaari Capital Siddhanth Jayaram — aims to minimise the effects of climate change by letting individuals take “climate action in a click of a button”. Satyen Kothari of Cube Wealth, Anshuman Bapna of Terra.do, Keshav Reddy of Reddy Futures, Akshay Singhal from Log9 Materials and Smart Joules from Arjun Gupta also participated in the current round. “Finance is the single biggest lever to solve climate change. Fantastic projects and solutions for carbon mitigation exist all around us. However, the finance needed to scale these projects is simply not flowing fast enough,” said the co-founders, Anirudh and Siddhanth. <cmsannotation type="cmsannotation" annotationid="How does ‘Climes’ work?" comment="subhead" text="How does ‘Climes’ work?">How does ‘Climes’ work?</cmsannotation> Climes is a fintech-enabled marketplace that incentivises the movement of capital from individuals at points of consumption to UN-approved carbon solution project developers on the ground in India. “We partner with consumer brands that want to go climate-friendly. Every time you [customer] order or buy something from them, you get to see emissions specific to your order. And you can choose to take climate action at checkout,” the company’s website read. The customers can simply pay marginally extra on their order to get some Clime coins, which the company allocates to different verified climatic projects. The platform claims the projects it works with have an impact on sanitisation and conservation, and empower local communities as well. <div type="image" title="A company vows to turn our travels, weddings, and food carbon neutral! Bags a million dollars" msid="92677877" hostid="261" sizebytes="37706"></div> For example, a user can pay an additional ₹2 to neutralise their carbon footprint of 2 kg, produced during a bus ride from Mumbai to Pune. The company charges ₹1 for every 1kg of carbon footprint. “The ideal solution towards climate change problems is to reduce consumption which may not be possible at all times. Making people aware of their carbon footprint and then making it available to offset may be a good mid-way path. We are excited to be a part of their journey and learn ourselves along the way,” says Nithin Kamath, Founder and CEO, Zerodha and Rainmatter. <div type="image" title="A company vows to turn our travels, weddings, and food carbon neutral! Bags a million dollars" msid="92677895" hostid="261" sizebytes="84897"></div> Vani Kola, Managing Director of Kalaari Capital, said, “The rising awareness of the need for carbon-neutral lifestyle and climate costs require urgent new solutions. Entrepreneurs offering solutions with climate sensitiveness can create key differentiating propositions… Climes’ solution makes it possible for brands to embark on that transition by allowing customers to carbon-neutralise every transaction.” Climes plans to use this capital for two aspects: First, integrate its technology with other customer-facing brands in the fashion, food, travel, beauty and personal care industry. Second, to expand its tech-stack to onboard high-quality climate solutions within India, as well as measure and report impact transparently. The company claims to have neutralised 26,000+ kg of carbon emissions across three weddings so far, in addition to 15,000+ kgs of carbon emissions in Global Entrepreneurship Summit (GES) 2022 and 5,000+ kg of carbon emissions at TedxSusMafia 2.0. SEE ALSO <a href="https://www.businessinsider.in/business/news/no-service-charge-on-restaurant-bill-will-impact-waiters-servers-kitchen-staff/articleshow/92668785.cms">Remember to tip your waiter, there is no more service charge on your bill</a> <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/tata-motors-kotak-mahindra-bank-indusind-bank-among-stocks-to-watch-out-for-on-july-5/slidelist/92665853.cms">Tata Motors, Kotak Mahindra Bank, IndusInd Bank among stocks to watch out for on July 5</a> <a href="https://www.businessinsider.in/india/news/indianoil-delivers-cooing-gas-via-boats-in-flood-hit-assam/articleshow/92667303.cms">IndianOil delivers cooking gas via boats in flood-hit Assam</a>

A company vows to turn our travels, weddings, and food carbon neutral! Bags a million dollars

<ul><li><keyword id="106317" type="CITY" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> reported around 67.4% fall in its consolidated net profit to ₹219.61 crore for the first quarter.</li><li>However, this is still better than what analysts had predicted. Edelweiss Securities <a href="https://www.businessinsider.in/business/corporates/news/asian-paints-share-price-this-may-be-the-worst-summer-for-sales-and-profit/articleshow/77119613.cms">had projected a 95% fall in profits</a>. </li><li>This is the first time that Asian Paints has registered negative growth in the first quarter in at least 3 years.</li></ul>India’s largest multinational paint company Asian Paints earnings reflect the lockdown pain, as expected, but some ray of hope lies in healthy business growth reported in June. Asian Paints reported around 67.4% fall in its consolidated net profit to ₹219.61 crore for the first quarter ended June 30. The total revenue was down 43% year-on-year to ₹2,922.66 crore during the period, the company said. However, this is still better than what analysts had predicted. According to Edelweiss Securities, <a href="https://www.businessinsider.in/business/corporates/news/asian-paints-share-price-this-may-be-the-worst-summer-for-sales-and-profit/articleshow/77119613.cms">the revenue was projected to fall at least 53% and</a> profit by 95%. The company shares erased some losses post the earnings. “While the quarter ended in a negative territory, the business registered a healthy double digit volume growth in the month of June’20 to end the quarter on a promising note,” said Amit Syngle, managing director and CEO of Asian Paints. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particular </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% Contribution to Revenue </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth % </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paints </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">98.20% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-42.50% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Home Improvement </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.80% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-50.90% </td></tr></tbody></table> This is the first time that Asian Paints has registered negative growth in the first quarter in at least 3 years. The quarter is usually full of business for paints companies around the country as people renovate homes during the traditional wedding season, and ahead of the incoming monsoons. <div type="image" title="Asian Paints deepn" msid="77146481" hostid="261"></div> The company witnessed a ‘complete washout’ in the month of April due to the extended Lockdown, it said. What remains to be seen is how much of this recovery seen in June will be sustainable going forward. As paints are not listed as an essential service, in the past three months most of their manufacturing units were shut, and later after many were reluctant to allow painters in the house immediately due to the fear of the virus. However, “the Decorative business segment witnessed improving business conditions over the next two months,” the company said. The halted production of automobiles, which form a big chunk of the company’s revenue, also impacted the company’s recovery. “The other business segments in India including the two industrial coatings businesses and both the segments in the Home Improvement category also witnessed improving trends in June ’20, albeit at a lower pace,” said Syngle. SEE ALSO: <a href="https://www.businessinsider.in/india/news/vistara-airline-airbus-a321neo-india-first-full-sleeper-flights-for-business-class/slidelist/77141209.cms" data-type="tilCustomLink">Inside pics of Vistara’s Airbus A321neo— India’s first full ‘sleeper’ flights for business class</a> <a href="https://www.businessinsider.in/stock-market/markets/news/gold-ril-tech-mahindra-and-sun-pharma-shine-as-investors-seek-safe-houses-the-rush-may-only-increase/articleshow/77144441.cms" data-type="tilCustomLink">Gold, RIL, Tech Mahindra and Sun Pharma shine as investors seek safe houses – the rush may only increase</a>

Asian Paints profit falls nearly 68% - but demand recovery in June could hold ray of hope

<img class="gwt-Image" src="/photo/51057235.cms" />

	 
	Considering the massive military modernization, OROP commitments and implementation of Seventh Pay Commission a hike is warranted in allocation in the upcoming Budget 2016 for Defense sector. 
	 
	Post the Gurdaspur and Pathannkot attack, the army’s main focus has been on border management. At present, it is more manpower oriented rather than technological. The border management needs a complete overhaul making it more dependent on state of the art technology. A lesson needs to be learnt from Israel whose border management is mainly monitored through technology and less on manpower. The internal security duties and frequent deployment for natural disasters too need to prepare a lot. 
	 
	More autonomy for Airforce? 
	 The air force is still dependent on the bureaucratic hurdle of getting the <keyword id="6381048" type="ORGANIZATION" weightage="20" keywordseo="Rafale">Rafale</keyword>. Even after the decision of buying the 36 fighters off the shelf, the negotiations are still on. It was expected to be signed during the visit of French President on republic day, but didn’t. The good news though is about the spectacular performance of home made Tejas at the recently completed Bahrain Air Show. Tejas, a 4.5 generation aircraft like Rafale, has always been insufficiently funded by the government and undermined by the IAF with periodic rewriting of ASRs. 
	 
	<keyword id="6355100" type="ORGANIZATION" weightage="20" keywordseo="Indian-Navy">Indian Navy</keyword> 
	 
	The Navy showcased its growing supremacy at the recently concluded International Fleet Review (IFR). The Navy has emerged as an effective tool of Indian diplomacy in past years, making it imperative for policy-makers to redefine the role of the nation’s naval forces in Indian strategy. The Indian Navy’s role is now changed from being local sea control and shore defense orientation, to a more aggressive naval posture. India needs blue water navy not only to meet emerging naval threats from Pakistan and China. It also has to safeguard strategic location at the center of the Indian Ocean as well as to protect its extensive exclusive economic zone. 
	 
	The Indian Navy also has a 15-year plan to achieve full indigenization in all phases of warship construction as a part of Make in India campaign. But it’s a real long time and the Navy to maintain its supremacy in Indian Ocean and to withstand the rising Chinese Navy’s ambition, still needs Submarines, Frigates and helicopters. 
	 
	Make in India 
	 
	Make in India has led to a lot possibilities for private partnership in defense which can bolster manufacturing sector. In a significant boost for the Indian Air Force, Phil Shaw, chief executive of Lockheed Martin India Private Ltd said "We are ready to manufacture F-16 in India and support the Make in India initiative," at the Singapore Airshow 2016. There have been lots of interesting deals that have been signed under Make In India campaign recently: 
	 
	1) BAE Systems to partner with Mahindra for assembling &amp; testing M777 howitzers 
	 
	2) Bharat Forge forms joint venture with Rafael; to manufacture high-tech defence components 
	 
	3)Mahindra, Airbus sign pact to form joint venture for military helicopters 
	 
	Defense allocation: India versus its neighbours 
	 In the neighborhood, Pakistan's defense budget has consistently been getting an almost double-digit growth meanwhile China maintains a defense budget which is three times the size of India. China’s dangerous adventures can gauged from the recent news that is has deployed surface-to-air missiles (<keyword id="694687" type="PERSON" weightage="20" keywordseo="SAMS">SAMs</keyword>) near a Chinese-held feature in the Paracel Island group. As reported by Fox News the missile deployment, based on analysis of satellite imagery; the news has since been confirmed by both the U.S. Department of Defense and Taiwan’s Ministry of National Defense (MND). 
	 
	Incidents of border stand-offs in the North and claiming of Aksai Chin are major irritants. Besides, India's traditional strategy to combat insurgency and terrorism remains military oriented. Combined with the ambition to extend our maritime sphere of interest, these potential threats will require India to give a boost in its defense spending. 
	 
	Looking at India’s neighborhood scenario the government needs to take a call whether it can or cannot hike the defense spending. Our defense strategy should be based on therealities of the money this government can actually spend. 
	 One also needs to look in to the fact that continued government’s fiscal deficit targets and the need to increase the budget allotment on Education, Health and policies for the poor farmers will also be deciding a factor if this Government can actually spend more than 2% of its <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> on defense. 
	 
	The article has been authored by defense analyst Sunil Rampore, who works as a leading consultant in defense and aerospace industry. 
	 
	Image Credit: Indiatimes.com

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