BGR Energy Gets Termination Notice from Chennai Metropolitan Water Supply and Sewage Board

Key Takeaways from BGR Energy Termination Notice:

• The Chennai Metropolitan Water Supply and Sewage Board terminated BGR Energy Systems' contract on September 23.
• The reasons consist of project execution delays and the quality of the water from the RO.
• The financial bids were received on 23 December 2016, and a contract was awarded for a 45 MLD capacity tertiary treatment reverse osmosis facility at Kodungaiyur.
• It was awarded on January 4, 2017, with a total value of Rs 440 crore, of which Rs 235 crore will be used for construction and Rs 205 crore for operation and management.
• The cancellation is assumed to have led to turnover and profit from the pending contracts.

The contract was awarded on January 4, 2017, for a total value of Rs 440 crore- Rs 235 crore for construction and Rs 205 crore for operation and management over 15 years. This loss will be in terms of an amount falling short in the turnover and proportionate profit due to the pending contracts.

The contract was signed on December 23, 2016, to design, build, and operate a 45 MLD capacity Tertiary Treatment Reverse Osmosis (TTRO) facility in Kodungaiyur. This included supplying and laying DI transmission mains for product water conveyance to industries in the Manali Area, Chennai.

About BGR Energy Systems Limited:

BGR Energy Systems Limited was a joint venture with GEA Energietechnik GmbH that was established in the year 1985. BG Raghupathy and his family became sole shareholders in the year 1993. They have elaborated product and services offerings in Power and Oil & Gas sectors. The company rebranded on June 28, 2007. BGR Energy operates in two business segments that are Supply of Systems and Equipments and Turnkey Engineering Project Contracting. It engineers, manufactures, procures, constructs, and commissions to manage projects. The company provides Balance of Plant (BOP) equipment and civil works for Power Generation. Currently, it is also on Engineering, Procurement, and Construction (EPC) contracts, supplying all the necessary power plant equipment. Currently, BGR Energy specialises in BOP and EPC contracts tailored according to customer requirements.

Key Takeaways from the Share Surge

• Exxaro Tiles has scheduled a Board of Directors meeting on October 14, 2024, to consider a stock split of its equity shares as per the Companies Act, 2013.
• Following the announcement on September 23, 2024, the company's share price surged by 18% in the first half of September 24, reflecting strong investor optimism.
• The trading window for Exxaro Tiles' shares is closed from September 23rd, 2024, and will reopen after 48 hours post-the-board meeting outcomes, adhering to SEBI's insider trading regulations.

The meeting is intended to consider and approve the sub-division or split of the company's equity shares, in line with Section 61(1)(d) of the Companies Act, 2013. This decision is part of a larger strategy to increase share liquidity and make the company's stock more accessible to investors. 

Following this announcement, the stock market reacted positively, with Exxaro Tiles' share price surging by 18% on September 24, 2024. Investors appear to be optimistic about the upcoming stock split, which is seen as a shareholder-friendly move. The trading window for the company's shares remains closed from September 23rd, 2024, and will reopen after 48 hours following the board meeting outcomes. 

About Exxaro Tiles Limited

Incorporated in 2008, Exxaro Tiles Ltd. is a leading manufacturer and trader of vitrified ceramic tiles. The company offers a wide range of over 1,000 designs in six different sizes, catering to both domestic and international markets. With a presence in 25 states across India and exports to six countries, Exxaro Tiles specialises in producing high-quality, durable tiles suited for a variety of applications.

Key Takeaways from the Announcement 

• Revolt Motors has announced that the RV1 and RV1+ electric motorcycles have achieved over 16,000 bookings in the first week of their launch.
• The RV1 costs ₹84,990 and the premium RV1+ is priced at ₹99,990 which are reasonable prices for an electric two-wheeler.
• The RV1 models were launched by the Minister of Road Transport & Highways, Nitin Gadkari.

The RV1 and RV1+ were officially unveiled on 17th September 2024 by Hon'ble Nitin Gadkari, Minister of Road Transport & Highways. Priced at ₹84,990 for the RV1 and ₹99,990 for the RV1+, both models offer an eco-friendly alternative to traditional two-wheelers, aligning with the rising consumer interest in electric mobility. 

‘Revolt Motors is dedicated to offering not just cutting-edge products but also world-class service, ensuring an unmatched ownership experience for its customers’, the company said in a stock exchange filing.

Commenting on the positive response, Mrs. Anjali Rattan, Chairperson of RattanIndia Enterprises Limited, shared, "We are deeply humbled by the unprecedented demand for the RV1. This monumental response not only strengthens our resolve but inspires us to continue leading the charge in India’s electric mobility revolution. The RV1 was designed with the everyday Indian commuter in mind, and to witness its acceptance at such a massive scale within a week is both thrilling and rewarding." 

About Revolt Intellicorp (Revolt Motors)  

Revolt Intellicorp, founded in 2017, is a leading player in India’s electric vehicle market. It focuses on providing advanced electric mobility solutions, introducing India’s first AI-enabled motorcycle that blends innovation, technology, and design. With a mission to make clean transportation more accessible, the company offers electric motorcycles along with genuine parts and accessories, ensuring a complete riding experience through its dealerships.

About RattanIndia Enterprises Limited  

RattanIndia Enterprises Limited, a publicly traded corporation, works within the RattanIndia group and assists innovative industries in building future growth. The company operates in several diversified industries, including electric mobility with Revolt Motors, e-commerce with Cocoblu Retail, fashion with Neo Brands, fintech with WeFin, and drone services through Neosky, thus playing an integral role in transforming several industries and benefiting society in a meaningful way. 

Key Takeaways from Orient Technologies' Financial Performance:

• For the April-June quarter of FY25, Orient Technologies reported a 30.43% year-over-year rise in profit after tax of Rs 9.3 crore.
• Compared to last year, operating revenue climbed by 27.3% to Rs 148.84 crore.
• Earnings before interest, taxes, amortisation, and depreciation ( EBITDA) rose by 28.53% to Rs 13.65 crore.
• The company's EBITDA margin increased by 9.2% during that same quarter.

The company’s revenue from operations increased 27.3% year-on-year (Y-o-Y) to Rs 148.84 crore in the April-June quarter of the financial year 2024-25, from Rs 116.9 crore in the same quarter previous year.

The company’s earnings before interest, tax, amortisation, and depreciation (EBITDA) rose 28.53%  to Rs 13.65 crore, compared to Rs 10.62 crore in the corresponding period last year.

Orient Technologies EBITDA margin rose 9.2% in the third quarter ended June 2024.

About Orient Technologies Limited:

Orient Technologies Limited is a technology development company that was established in 1997 in Mumbai, Maharashtra, India, a start-up that sought to bring novel technology solutions into businesses that engage with customers. As these professionals continued emphasising excellence and innovation, the company emerged as a leading player in the IT sector, excelling in full capabilities as well as international clientele. Orient Technologies Limited has continued to venture to new frontiers in technology for businesses navigating the dynamic landscape of digitisation today.