2/3 Wheelers company Hero MotoCorp announced Q1FY24 results:

• Revenue from Operations for Q1FY24 stood at Rs 8,767 crore, (vs Rs 8,393 crore) and Total Income of Rs 8,989 crore (vs Rs 8,446 crore).

• EBITDA margin for Q1FY24 stood at 13.8%, reflecting an improvement of 250 bps. The underlying EBITDA margin for ICE Business stands at 14.5%, excluding the impact of EV business.

• Profit Before Tax and exceptional item for Q1FY24 was at Rs 1,255 crore, reflecting a growth of 52% over Rs 824 crore reported in Q1FY23.

• Profit After Tax before exceptional item stands at Rs 945 crore, a growth of 51% over Q1FY23. PAT after the exceptional item of VRS, stands at Rs 825 crore.

• Consolidated Revenue from operations stood at Rs 8,851 crore, a growth of 5% over Q1FY23, and PAT at Rs 701 crore, a growth of 20% over Q1FY23.

• Volume of 13.53 lakh units of motorcycles and scooters sold in Q1FY24.

Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp, said, “Our underlying margins in ICE business have returned to pre-covid levels, providing us with the necessary fuel for growth as we move forward.

 The singular focus as we move ahead will be growth and market share. We have begun strengthening our presence in the premium segment and pre-booking number for Harley Davidson X440 is a good start.

We will see more launches of new models in this segment over the next few quarters, as we intend to win big in the premium segment. Our EV presence is getting scaled up and we are on track to cover 100 cities by December this year.

The key economic indicators are trending in a positive direction, and a normal monsoon augurs well for demand, as we will soon enter the festive season.

Reduced inflationary pressures moving forward, should result in more spending power in the hands of consumers. Overall, we see a positive scenario on the demand side, especially for the second half of this year and onwards”

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Hero MotoCorp Q1FY24 Results: Revenue Growth and Improved Margins

Who is Ashwini Vaishnaw

Ashwini Vaishnaw is an Indian politician and a member of the Bharatiya Janata Party (BJP). He has held various important positions in the Indian government and has been actively involved in public service.

1.  Early Life and Education: Ashwini Vaishnaw was born on April 16, 1970, in Jodhpur, Rajasthan, India.

He completed his schooling in Jodhpur and went on to pursue a Bachelor's degree in Electrical Engineering from Jodhpur University. He later obtained a Master's degree in Technology from the Indian Institute of Technology (IIT), Kanpur.

2.  Professional Career: After completing his education, Ashwini Vaishnaw joined the Indian Administrative Service (IAS) in 1994. He held several key positions in the Rajasthan state government and served as the District Collector in Jaisalmer and Kota districts.

 He also worked as the Commissioner of the Ajmer Development Authority.

3.  Contributions to Public Service: Vaishnaw has been actively involved in various initiatives aimed at improving governance and promoting transparency.

During his tenure as the District Collector of Jaisalmer, he initiated several developmental projects and implemented innovative schemes for rural development.

4.  Role in the Indian Government: Ashwini Vaishnaw was appointed as a Joint Secretary in the Prime Minister's Office (PMO) under the government of Prime Minister Narendra Modi in 2014.

 He played a crucial role in implementing various flagship programs and digital initiatives, including the Pradhan Mantri Jan Dhan Yojana (financial inclusion scheme) and the Digital India campaign.

5.  Current Position: In July 2021, Ashwini Vaishnaw was inducted into the Union Cabinet as the Minister of Railways, Communications, and Electronics & Information Technology.

He has been entrusted with the responsibility of modernizing the Indian railways, expanding digital connectivity, and overseeing the telecommunications and information technology sectors.

6.  Achievements: As a minister, Vaishnaw has introduced several reforms in the Indian Railways, including the introduction of private trains, modernization of railway stations, and focus on enhancing passenger safety and convenience.

He has also been involved in promoting the digitalization of government services and increasing internet penetration across India.

7.  Awards and Recognition: Ashwini Vaishnaw has received recognition for his contributions to public service. He was awarded the Prime Minister's Award for Excellence in Public Administration in 2013 for his work as the District Collector of Jaisalmer.

A Profile of Ashwini Vaishnaw, Indian Politician and BJP Member

Do AI need to be monitored closely, Here is what an AI can do… 👇👇

1.  AI can mimic human behavior: With advancements in machine learning and natural language processing, AI can mimic human behavior and even generate content that is difficult to distinguish from that produced by a human. @elonmusk

2.  AI can create deepfakes: AI algorithms can be trained to create convincing deepfake videos and images that can be used for malicious purposes.

3.  AI can be biased: AI systems are only as good as the data they are trained on, and if the data contains biases, the AI system will replicate those biases.

4.  AI is energy-intensive: AI requires a lot of computational power, and the energy needed to power the computers used to train and run AI models can be significant.

5.  AI is rapidly advancing: The pace of AI development is accelerating, and experts predict that AI will continue to evolve rapidly in the coming years, leading to new breakthroughs and applications.

6.  AI is transforming industries: AI is already transforming industries such as healthcare, finance, and retail, and is expected to continue to have a major impact on many other industries in the years to come.

7.  AI can be hacked: As AI becomes more widespread, the risk of AI systems being hacked or manipulated increases, which could have serious consequences in areas such as finance and national security.

8.  AI has ethical implications: As AI becomes more powerful, it raises ethical questions about issues such as privacy, data security, and job displacement. These ethical implications will need to be addressed as AI continues to advance.

Some common reasons that could lead to the collapse of a bank:

1.  Poor management: If a bank is poorly managed and its leaders make bad decisions, this can lead to financial distress and ultimately collapse.

2.  Economic downturn: Economic downturns can result in a higher number of loan defaults, which can strain a bank's balance sheet and lead to insolvency.

3.  Fraud or embezzlement: Fraud or embezzlement can cause significant losses for a bank and may result in the bank's collapse.

4.  Regulatory issues: Banks are subject to a range of regulations designed to ensure their safety and soundness. If a bank violates these regulations, it may face penalties and fines, which can impact its financial health.

5.  External factors: External factors such as natural disasters, geopolitical events, or pandemics can also impact a bank's financial health and lead to its collapse.

It's important to note that bank collapses are rare, and most banks have robust risk management systems in place to prevent them. However, in the event of a bank collapse, it can have significant implications for the broader economy and financial system.

You can read the unrolled version of this thread here: https://typefully.com/vishnuagarwal04/N5jhPGV

Reasons for Bank Collapse

SHILPA MEDICARE: Company’s Analytical Services Division situated at Unit 7, Nacharam,

Hyderabad, Telangana has been inspected by US FDA during 08 Mar 2023 to 10 Mar 2023. This is a full GMP inspection.

The inspection is closed with 2 minor observations, which are related to improvements in existing procedures and are addressable.

This is the second US FDA inspection on the site. The initial inspection was done during Apr 2022, for which the GMP clearance (EIR) was issued in July 2022.

Note : The facility is involved in analytical testing of drug products, drug substances, raw materials & packing materials. It is also engaged in analytical method validations, method transfers and conduct of other miscellaneous studies.

 This facility is involved in the testing of US/EU & other markets commercial batches.

You can read the unrolled version of this thread here: https://typefully.com/vishnuagarwal04/KMgiT7u