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Tag: Siddharth Jain

  • HealthKart partners with Unicommerce to boost e-commerce operations

    HealthKart partners with Unicommerce to boost e-commerce operations

    Mumbai: Omnichannel nutrition products retailer Bright Lifecare Pvt Ltd, operating under the brand name HealthKart, has partnered with Unicommerce, an e-commerce enablement SaaS platform, to strengthen its e-commerce supply chain in multiple ways.

    Healthkart has adopted Unicommerce’s multi-channel order management and warehouse management solutions to automate order processing and fulfillment through its own website and across multiple marketplaces for its nutritional products under brand names including MuscleBlaze, Gritzo, and HK Vitals.

    It will also use Unicommerce’s seller management panel to enable 400 plus sellers on the Healthkart marketplace to fulfill orders directly from their respective location. The seller management panel facilitates HealthKart with a diverse range of sellers and vendors, expanding the product catalog for their platforms. This enables HealthKart to maximize sales while orders are fulfilled directly from the seller’s location, resulting in significant cost and resource savings.

    Utilizing Unicommerce’s comprehensive suite of technology solutions, HealthKart is enabling different aspects of its e-commerce operations highlighting the growing importance of technology for a business.

    Talking about its partnership, HealthKart SVP Siddharth Jain said, “We are a new-age brand with technology at our core. As the demand for health and fitness products continue to grow among Indian consumers, we are focused on embedding best-in-class technology solutions to enhance the experience and efficiency for our buyers, vendors and others users.”

    “Health & Fitness have become a prominent e-commerce segment and we are excited to be a part of HealthKart’s growth journey as their technology provider.” said Unicommerce MD & CEO Kapil Makhija.

  • Multiplex giants PVR, Inox announce merger to combat OTT onslaught

    Multiplex giants PVR, Inox announce merger to combat OTT onslaught

    Mumbai: Top multiplex chains PVR Ltd and Inox Leisure Ltd have announced a merger following a meeting of their board of directors on Sunday. The combined entity, called PVR Inox Ltd, will become the largest film exhibition company in India operating 1546 screens.

    “The merged entity would be able to strongly counter the advent of various OTT platforms and the after effects of the pandemic,” the two companies said in an exchange filing.

    The merger will be an all-stock amalgamation subject to approval of the shareholders of PVR and Inox respectively, stock exchanges, Sebi and such other regulatory as may be required.

    Post the merger, the promoters of Inox will become the co-promoters in the merged entity along with existing promoters of PVR. The board of directors of the merged company will be reconstituted with a total board strength of ten members and both the promoter families having equal representation on the board with two seats each. PVR promoters will have 10.62 per cent stake while Inox promoters will have 16.66 per cent stake in the combined entity.

    When the merger becomes effective, shareholders of Inox will receive shares of PVR in exchange of shares in Inox at the approved share swap ratio. Inox shareholders will receive three shares in PVR for ten shares of Inox.

    It was also decided that PVR chairman Ajay Bijli will lead the combined entity as managing director and Sanjeev Kumar will be the executive director.

    Inox Group chairman Pavan Kumar Jain will be named as non-executive chairman of the board, and Siddharth Jain will serve as non-executive non-independent director in the combined entity.

    “This is a momentous occasion that brings together two companies with significantly complementary strengths,” said PVR’s Ajay Bijli. “The partnership of these two brands will put consumers at the center of its vision and deliver an unparalleled movie going experience to them. The film exhibition sector has been one of the worst impacted sectors on account of the pandemic and creating scale to achieve efficiencies is critical for the long-term survival of the business and fight the onslaught of digital OTT platforms.”

    “Coming together of two iconic cinema brands, which are driven by passion, is certainly the most historic moment in the Indian cinema exhibition industry,” stated Inox Leisure director Siddharth Jain. “Both companies have set high service benchmarks in an endeavour to offer the best cinema experience in the world, to the most passionate moviegoers, and would continue to do so as a unified entity. As we head into the industry’s revival amidst headwinds, this decisive partnership would bring in enhanced productivity through scale, a deeper reach in newer markets and numerous cost optimisation opportunities, and continue to delight cinema fans with world-class experiences and landmark innovations.”

  • Inox Leisure reports revenues of Rs 301 crore in Q3’ FY22

    Inox Leisure reports revenues of Rs 301 crore in Q3’ FY22

    Mumbai: Inox Leisure Ltd (Inox) has reported financials for the third quarter ending 31 December 2021. The company has posted revenues at Rs 301 crore. The occupancy rate touched 19 per cent with 9.4 million guests visiting Inox cinemas across the country. 

    The quarter also reported the highest ever quarterly Average Ticket Price (ATP) at Rs 226 and the highest ever quarterly Spends Per Head (SPH) at Rs 97.

    A sharp recovery was signaled by major business metrics showing a significant reduction in gap with pre-Covid levels largely due to good content and reduced apprehensions post widespread vaccination.

    The response to “Sooryavanshi,” “Spider-Man: No Way Home,” “Annaatthe,” “Pushpa: The Rise,” and “83” was comparable with the pre-pandemic times, with two films garnering box-office collections in excess of Rs 200 crore and three in excess of Rs 100 crore.

    Inox added three new properties with 13 screens in Q3’FY22 at Aurus Mall, Guwahati, Prabhatam Grand Mall, Dhanbad and WorldMark, Gurugram. In all, CY2021 ended with the addition of 41 new screens. The company now operates 158 multiplexes with 667 screens in 70 cities across the country. Of the planned 41 screens in FY’22, 24 have been launched, while work on 17 screens is nearly 80 per cent complete.

    Besides being net debt-free, the company has also managed to maintain liquidity of close to Rs 300 crore including undrawn limit of Rs 120 crore.

    “Besides being resilient, we maintained an optimistic outlook during the adverse phase over the past eight quarters,” said Inox Group director Siddharth Jain. “Thanks to our strong fundamentals, the spectacular content flow and above all, the infinite passion for cinema prevailing in our country, we have proudly witnessed the recovery happening.”

    “With the addition of 41 new screens, the highest in the industry in CY2021, we have shown that adversities could not dent our passion. Enlightened with lessons from the past, our path ahead will be underlined by innovation and rigor. We will certainly gain strength from our excellent liquidity levels and a zero net debt position,” he further added.

  • IBF ropes in Siddharth Jain as secretary general

    IBF ropes in Siddharth Jain as secretary general

    New Delhi : The Indian Broadcasting Foundation (IBF), the apex body of broadcasters, on Thursday appointed Siddharth Jain as its secretary general.

    An industry veteran, Jain’s career spans over three decades. Until 30 April, he was working with Turner International India Pvt. Ltd. as SVP and managing director – South Asia.

    Commenting on the appointment, IBF president, K. Madhavan said, “Siddharth has demonstrated great competency in nurturing efficient, talented cross border teams of industry experts and is highly adept in driving innovation to turn adversities into opportunities. Given his remarkable expertise in leadership and advocacy, business strategy, corporate governance and compliance, we are confident in his ability to steer the IBF on a path that helps realize the sector’s value chain to the optimum. I, along with the rest of the IBF members, welcome Siddharth and wish him the very best for his new role.”

    Jain is an accomplished enterprise business leader known for expertise in business strategy, revenue/profitability/EBITA growth, financial management, sales & marketing, business development, international brand launches & development, account management, strategic alliances & partnership development, relationship management, and corporate governance and compliance stated IBF in a release.

    Meanwhile, IBF is being renamed as Indian Broadcasting & Digital Foundation (IBDF), as it expands its purview to cover digital platforms to bring all digital (OTT) players under one roof. IBF is also in the process of setting up a separate subsidiary to facilitate the entry of OTT players.

    The subsidiary will be carrying out various activities for its member OTT players including handling the day-to-day activities of the industry-led Level-II appellate Self-Regulatory Body (SRB) called Digital Media Content Regulatory Council (DMCRC) for non-news digital OTT platforms, similar to Broadcast Content Complaint Council (BCCC).

  • Inox Leisure’s QIP raises Rs 250 crore

    Inox Leisure’s QIP raises Rs 250 crore

    MUMBAI: Multiplex chain Inox Leisure has raised Rs 250 crore through a qualified institutional placement (QIP) of shares. Under the QIP issue, over-subscribed by 3.5 times, Inox allotted 9,803,921 shares of face value of Rs 10 each at Rs 255 per share to highly reputed and marquee global and Indian institutional investors. 

    Some of the global investors included Abu Dhabi Investment Authority and Eastspring Investments, while the Indian investors included some of the largest domestic mutual fund houses like ICICI Prudential, Birla Mutual Fund, Nippon India Mutual Fund, DSP Mutual Fund and Sundaram Mutual Fund. The issue allocation is approximately 69 per cent and 31 per cent to Indian and foreign investors respectively. 

    Inox Group director Siddharth Jain said, “The stupendous response to our QIP endorses the faith our investors have in the future of our business model and the strength of the management team. We are delighted with the participation and support of high quality investors, which will fuel the journey of Inox 2.0 in the future. I extend my deepest gratitude towards our investors for the trust they have bestowed upon us.”

    The funds raised through the QIP would be utilised by Inox to meet capital expenditure requirements for ongoing and future projects, to sustain growth in the business, for expansion and to improve the financial leveraging strength of the company. 

    The funds raised will also be invested towards working capital requirements, towards debt repayments including repayment of any existing or future debt incurred for any purpose including for paying off any liability, for investments in subsidiary companies as well as for general corporate purposes, including but not limited to pursuing new business opportunities, acquisitions, alliances etc. Overall, Inox aims to augment its business growth with the freshly accrued funds.

  • INOX revenue up by 12% in FY2020 despite Covid2019 impact

    INOX revenue up by 12% in FY2020 despite Covid2019 impact

    MUMBAI: INOX Leisure Ltd reported financials for the fourth quarter and the financial year ending 31 March 2020. While Covid2019 eroded the last quarter, the company claims to have made a substantial increase in its yearly performance.

    EBITDA for Q4 2020 stands at Rs 40 crore, quarterly loss after tax was at Rs 2 crore. Total revenue for Q4 is Rs 376 crore.

    On the other hand, for FY2020, it saw revenue up by 12 per cent to Rs 1915 crore, EBIDTA growth by seven per cent to touch Rs 347 crore, PAT growth at six per cent to hit Rs 141 crore. Additionally, the company release says that it saw a footfall of 66 million this year. The spend per head showed eight per cent growth annually and stood at Rs 80.

    The Covid2019 pandemic impacted its ad revenue. The recessionary slowdown and Covid-induced fear psychosis towards the end of the FY led to a flat trajectory with just one per cent growth, said the company.

    INOX Group director Siddharth Jain said, “Despite the advent of Covid2019, we managed to continue our uninterrupted streak of revenue growth. The advent of Covid2019 has left a serious mark on our fourth quarter performance and will remain a cause of concern in the subsequent months as well. With a clear priority on safety and well-being of our guests as well as our employees, we are preparing ourselves with the wherewithal which would help us see through this phase. Our SOPs have been tailored to offer a safe, reliable and a seamless movie watching experience once we resume operations. We are confident that the signature INOX experience, which has become synonymous to movie watching in our country, will remain intact, and will continue to delight our patrons on the other side of Covid2019. We are banking on our inherent passion and our robust balance sheet, which would help us emerge stronger and faster from this pandemic situation and deliver a remarkable turnaround, delighting all our stakeholders.” 

    *Excludes impact of Ind AS 116

  • POGO collaborates with DD National to simulcast ‘Chhota Bheem’

    POGO collaborates with DD National to simulcast ‘Chhota Bheem’

    MUMBAI: India’s homegrown kids’ entertainment channel POGO has partnered with public service broadcaster Doordarshan to simulcast ‘Chhota Bheem’, on DD National. The hugely popular animation features the superhero Bheem who comes all the way from Dholakpur to entertain kids every afternoon from 2-2:30 PM on DD National from April 17- May 3, 2020.

    WarnerMedia Entertainment Networks in South Asia managing director Siddharth Jain said: “These are challenging times and we believe that POGO’s fun-filled, relatable content will keep kids engaged and entertained. We are very pleased to collaborate with a platform as distinguished and popular as Doordarshan. The agreement ensures that an even larger number of young viewers across the country will be able to enjoy ‘Chhota Bheem’, one of our most prominent shows.”

    Prasar Bharati CEO Shashi Shekhar Vempati said: “Doordarshan is pleased to partner with POGO to simulcast Chhota Bheem on DD National. Chhota Bheem is one of children’s most favourite cartoon character, and we are delighted to bring him on our channel to entertain our young viewers.”

    Since the commencement of the lockdown, DD National has been re-telecasting its iconic shows to entertain viewers across age groups while they stay home. With this collaboration, DD National will be able to broadcast immensely popular and iconic kids’ entertainment content from POGO, captivating audiences across the country.

  • POGO and Cartoon Network announce three new homegrown comedies for 2020

    POGO and Cartoon Network announce three new homegrown comedies for 2020

    MUMBAI: POGO and Cartoon Network, channels under WarnerMedia Entertainment Networks Asia Pacific, are ramping up original India productions with three new home-grown animation comedies.

    POGO has commissioned both ‘Titoo’ and ‘Lambuji Tinguji’, produced by Cosmos Maya, and Cartoon Network will air ‘Bandbudh Aur Budbak’, from Paperboat Studios.

    Cartoon Network and POGO in South Asia senior director and network head Abhishek Dutta said, “Our top priority is our fans and they love characters and great stories. These quintessentially Indian shows will resonate strongly with them. We commissioned ‘Titoo’ and ‘Lambuji Tinguji’ and acquired ‘Bandbudh Aur Budbak’, for their clever use of comedy and humour. They all feature visual richness and robust characters, embedded in unique animated worlds and stories. The creativity and talent now seen in the Indian animation industry has developed tremendously and the commitment made to three homegrown IPs is testament to our belief in the industry to create world-class entertainment.”

    Entertainment Networks in South Asia managing director Siddharth Jain added, “India continues to be a priority market for WarnerMedia Entertainment Networks in Asia Pacific. Investing in three new shows for POGO and Cartoon Network in 2020 further demonstrates our commitment to scaling up and sustaining the quality of our kids entertainment.”

    As original productions, ‘Titoo’ and ‘Lambuji Tinguji’ offer myriad advertising opportunities including brand association and licensing partnerships. Even before the launch of these tentpole shows, brand integration and branded content production are being explored.

    Partners could also be a part of POGO’s nationwide promotional launch activities including mall events, digital promotions and on-air activations. These start in the months leading up to the launch and carry on during the initial airing on the channel, with additional sustaining tactics to maintain the excitement.

  • Pogo to telecast ‘Kalari Kids’ in 3 languages

    Pogo to telecast ‘Kalari Kids’ in 3 languages

    MUMBAI: Green Gold Animation show, Kalari Kids, is all set to be available on Pogo channel in Tamil, Hindi and English starting from 15 April, every weekday at 5 pm.   

    The show combines the old-world charm and warmth of India with new-age sassiness and fun! Learning the ancient martial art form – Kalaripayattu – the Kalari Kids reside in the enchanted jungle of Kalaripuram full of magical powers.

    Turner India MD Siddharth Jain said, “We constantly aim to offer kid-friendly content to create a deeper connection with our audience, and homegrown and localized shows play a critical role in POGO’s programming strategy. We are certain that Kalari Kids will strengthen our engagement with our little fans.”

    Pogo will also engage with fans with a range of fun and exciting activities, which will immerse them into the magical world of Kalari Kids! The high-impact, 360-degree campaign includes on-ground and digital experiences in multiple cities. This includes an exciting association with Junglee, a family adventure film, featuring action-hero and star Vidyut Jammwal.

  • IBF rejigs board; appoints VPs to steer key objectives

    IBF rejigs board; appoints VPs to steer key objectives

    MUMBAI: The board of directors of the Indian Broadcasting Foundation (IBF) has unanimously appointed Siddharth Jain, Rajat Sharma, Sudhanshu Vats and K Madhavan as the vice-presidents to broadbase and liaise with the government and other stakeholders for the sectoral growth.

    Turner International India Pvt Ltd South Asia SVP and MD Siddharth Jain will be the VP for distribution. India TV chairman and editor-in-chief Rajat Sharma shall oversee government affairs in his role as the VP of the foundation. Viacom18 group CEO Sudhanshu Vats would be VP—audience measurement and Asianet communications MD K Madhavan will be spearheading the regional affairs portfolio.

    India Today Group chairman and editor-in-chief Aroon Purie shall continue as the treasurer of the foundation till the next AGM.

    In the 19th annual general meeting of IBF held on 31 August 2018, the members unanimously elected Prasar Bharati CEO Shashi S Vempati to the board of directors of IBF. His inclusion in the board will strengthen the foundation technologically considering his prior experience in the IT sector.

    With the inclusion of ABP News Networks COO Avinash Pandey, The Walt Disney Co- South Asia EVP and MD Mahesh Samat, Malayalam Communications Ltd MD and editor-in-chief John Brittas as co-opted directors on the board of the foundation, IBF is geared up to meet the sectoral challenges.