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Platinum Industries Ltd. reports 64.7% revenue growth, exceeding INR 2 billion for H1 FY25; achieved INR 100 crore in revenue for both Q1 and Q2 FY25, with 63.6% YoY growth in Q2.

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MUMBAI, India, Nov. 18, 2024 /PRNewswire/ — Platinum Industries Ltd., a leading manufacturer of PVC and CPVC additives and the third-largest player in India’s PVC stabiliser market (Source: CRISIL Report), is pleased to announce its financial results for the second quarter and half-year ending September 30, 2024. The Company concluded the first half of the financial year by surpassing the INR 2 billion revenue mark, reflecting a significant milestone in its consolidated revenue performance.

Key Consolidated Financial Highlights for Q2 and H1 FY25 (INR in Million)

Particulars

Q2 FY25

Q2 FY24

%Change

H1 FY25

H1 FY24

% Change

Revenue from Operations

996.35

609.05

63.59 %

2,022.90

1,228.21

64.70 %

EBITDA

150.90

161.88

-6.78 %

355.59

323.78

9.82 %

EBITDA Margin %

15.15 %

26.58 %

-1143 bps

17.58 %

26.36 %

-878 bps

Profit Before Tax

193.99

151.61

27.95 %

432.96

302.43

43.16 %

PBT Margin %

19.47 %

24.89 %

-542 bps

21.40 %

24.62 %

-322 bps

Profit after Tax

145.26

114.41

26.96 %

322.64

228.35

41.29 %

PAT Margin %

13.80 %

18.61 %

-481 bps

15.17 %

18.45 %

-328 bps

Earnings Per Share (EPS) In INR

2.64

2.88

-8.33 %

5.75

5.71

0.70 %

Performance Highlights:

Revenue in Q2 FY25 reached INR 996.35 million, reflecting a year-on-year growth of 63.59%, driven by increased demand across domestic and international markets. For the first half of FY25, revenue surged by 64.7% year-on-year to INR 2,022.9 million. This substantial revenue growth underscores Platinum Industries’ resilience and adaptability in a competitive market. Platinum’s commitment to quality and reliability has led to long-term relationships with marquee clients, creating high retention and stable cash flows.

Profit Margins and EBITDA Performance

For H1 FY25, EBITDA reached INR 355.59 million, reflecting a 9.82% growth compared to H1 FY24. Compared to Q2FY24, EBITDA margin contracted by 1143 bps in Q2FY25 due to product mix skew towards lower margin products and higher operating expenses.

Nevertheless, the Company demonstrated improved return ratios, with Return on Equity (ROE) and Return on Capital Employed (ROCE) standing at 8.89% and 8.54% respectively for H1 FY25.

Strengthened Profitability in H1 FY25

Profit Before Tax (PBT) increased by 27.95% year-on-year to INR 193.99 million in Q2 FY25, with a PBT margin of 19.47%, down by 542 basis points. For the half-year, PBT grew by 43.16% to INR 432.96 million, demonstrating Platinum Industries’ commitment to maintaining strong profitability despite challenging cost conditions.

Earnings and Shareholder Value

Profit After Tax (PAT) for Q2 FY25 rose by 26.96% to INR 145.26 million, while H1 FY25 PAT reached INR 322.64 million, marking a year-on-year growth of 41.29%. The EPS for H1 FY25 was INR 5.75, indicating steady returns for shareholders amidst market challenges.

Chairman’s Commentary:

Mr. Krishna Rana, Chairman and Managing Director of Platinum Industries, commented, “Our performance for Q2 & H1 FY25 reflects not only the resilience of our business model, but also our commitment to long-term growth. As we expand our manufacturing footprint with upcoming facilities in Egypt and Palghar, we are strategically positioned to meet the growing demand for sustainable PVC stabilisers and additives across high-growth regions, in both mature and emerging markets. In particular, with a proven track record on sustainable, lead-free, and calcium-organic stabilizers, Platinum is well-positioned to align with global regulatory trends and eco-conscious market preferences. This capacity expansion, coupled with our focus on lead-free and eco-friendly solutions, underpins our mission to drive sustainable innovation and establish Platinum as a respected global peer in specialty chemicals.

He further added, “In terms of our outlook, Platinum Industries stands well-prepared to leverage its expanded capacity, sustainable innovations, and strong client relationships for long-term growth. With robust financial health and a clear strategy, we are set to capture further market share and deliver enduring value to our shareholders. A strong balance sheet, with funds from the recent IPO, provides us the financial flexibility needed for expansion, and R&D. We are now also exploring potential acquisitions as beachheads into Europe to accelerate market penetration.”

Strategic Capacity Expansion Roadmap

The new facilities in India and Egypt are set to significantly boost capacity, enabling Platinum to meet rising demand in regions like MENA, Europe, and the U.S., while enhancing cost-efficiency:

Palghar Facility, India: A 60,000-tonne annual capacity expansion focused on non-lead-based stabilisers is slated for completion by Q4 FY2024-25. Positioned near critical raw material sources and JNPT port, this facility will optimize both domestic supply and export logistics, supporting rapid delivery to key markets.Suez Canal Economic Zone, Egypt: Platinum’s new 60,000-tonne annual capacity facility in Egypt is scheduled to be operational by Q2 FY2025-26. This strategic location will enable efficient access to the high-growth MENA and LATAM regions, leveraging proximity to major shipping routes to minimize lead times and distribution costs.

About Platinum Industries Ltd.

Platinum Industries Ltd. is a premier multi-product company in the speciality chemicals sector, specialising in PVC & CPVC Additives, Metal Soaps and lubricants. As India’s leading PVC stabiliser manufacturer, Platinum supplies to over 30 countries from its ISO 9001:2015 certified facility in Palghar, Maharashtra, strategically located near JNPT Port for efficient import and export operations. The Company’s product range includes lead stabilisers, Hybrid™ low lead stabilisers, Highstab™ Ca- Zn/Ca-Org stabilisers, CPVC compounds, CPVC Add Packs, Metal Soaps and various lubricants, which are used in PVC pipes, fittings, profiles, electrical wires and cables, SPC floor tiles, Roofing and packaging materials. According to the CRISIL Report, Platinum Industries holds a 13% market share, making it the third- largest player in the domestic PVC stabiliser market for FY 2022-23. Platinum’s commitment to innovation is reinforced by a technical collaboration with HMS Concept E.U., led by Dr. Horst Michael Schiller. Additionally, an in-house R&D facility in Dhansar, Palghar, drives continuous product development. The Company’s substantial domestic market share, innovation, sustainable growth practices, and strategic global expansion plans, including new facilities in Egypt and Palghar, solidify its status as a market leader with a team of 104 people in Mumbai, India.

 

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AV-Comparatives Releases 2024 Advanced Threat Protection Test Results for Enterprise Cybersecurity Solutions

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Helping CISOs Select Top-Performing Cybersecurity Solutions with Rigorous Advanced Threat Protection Testing Results for 2024

Advanced Threat Protection Test 2024 

INNSBRUCK, Austria, Nov. 18, 2024 /PRNewswire/ — AV-Comparatives, a globally recognised independent organisation specialising in cybersecurity testing, is pleased to announce the results of its 2024 Advanced Threat Protection (ATP) Test for enterprise cybersecurity solutions. This comprehensive evaluation provides Chief Information Security Officers (CISOs) with critical insights into the efficacy of leading endpoint protection products against sophisticated, targeted cyber threats.

The full report of the Advanced Threat Protection Test 2024 – Enterprise is available at: https://www.av-comparatives.org/tests/advanced-threat-protection-test-2024-enterprise/ 

The ATP Test rigorously assesses each product’s ability to defend against advanced persistent threats (APTs), which are complex, multi-stage attacks aimed at specific organisations. By simulating real-world attack scenarios, the test offers an objective measure of how well security solutions can prevent breaches that could lead to significant financial and reputational damage.

The 2024 evaluation included the following enterprise security products:

Avast Ultimate Business Security 24.8Bitdefender GravityZone Business Security Premium 7.9CrowdStrike Falcon Pro 7.16ESET PROTECT Entry with ESET PROTECT Cloud 11.1Kaspersky Endpoint Security for Business – Select, with KSC 12.6NetSecurity ThreatResponder 3.5

Each of these solutions demonstrated robust protection capabilities, successfully blocking a significant number of advanced attacks. Notably, all six products achieved AV-Comparatives’ prestigious ATP Enterprise Certification, underscoring their effectiveness in safeguarding enterprise environments against sophisticated threats.

For CISOs and decision-makers, these results serve as a valuable resource for selecting security solutions that align with their organisation’s specific needs. The detailed findings offer a clear comparison of each product’s strengths, facilitating informed decisions to enhance organisational cybersecurity postures.

AV-Comparatives remains committed to providing transparent, scientifically rigorous evaluations of cybersecurity products. By delivering unbiased assessments, we empower organisations to make informed choices in an ever-evolving threat landscape.

The full report of the Advanced Threat Protection Test 2024 – Enterprise is available at: https://www.av-comparatives.org/tests/advanced-threat-protection-test-2024-enterprise/

Methodology

AV-Comparatives used five different Initial Access Phases, distributed among the 15 test cases, mapped to the MITRE ATT&CK Matrix (c)

Trusted Relationship: “Adversaries may breach or otherwise leverage organizations who have access to intended victims. Access through trusted third-party relationship exploits an existing connection that may not be protected or receives less scrutiny than standard mechanisms of gaining access to a network.”

Valid accounts: “Adversaries may steal the credentials of a specific user or service account using Credential Access techniques or capture credentials earlier in their reconnaissance process through social engineering […].”

Replication Through Removable Media: “Adversaries may move onto systems […] by copying malware to removable media […] and renaming it to look like a legitimate file to trick users into executing it on a separate system. […]”

Phishing: Spearphishing Attachment: “Spearphishing attachment is […] employs the use of malware attached to an email. […]”

Phishing: Spearphishing Link: “Spearphishing with a link […] employs the use of links to download malware contained in email […].”

The complete methodology can be found here: https://www.av-comparatives.org/tests/advanced-threat-protection-test-2024-enterprise/ 

Business Security Test August-September 2024 – Factsheet

Read also the latest Business Security Factsheet for August-September 2024, containing the results of the Business Malware Protection Test (September) and Business Real-World Protection Test (August-September). The full report, including the Performance Test and product reviews, will be released in December.

Link to Testreport: https://www.av-comparatives.org/tests/business-security-test-august-september-2024-factsheet/

Tested  Products:

Avast Ultimate Business SecurityBitdefender GravityZone Business Security PremiumCISCO Secure Endpoint EssentialsCrowdStrike Falcon ProElastic SecurityESET PROTECT Entry with ESET PROTECT CloudG Data Endpoint Protection BusinessK7 On-Premises Enterprise Security AdvancedKaspersky Endpoint Security for Business – Select, with KSCMicrosoft Defender Antivirus with Microsoft Endpoint ManagerNetSecurity ThreatResponderRapid7 InsightIDRSenseOn Platform with EPPSophos Intercept X AdvancedTrellix Endpoint Security (ENS)VIPRE Endpoint Detection and ResponseVMware Carbon Black Cloud Endpoint Standard

Details:

Bitdefender, Sophos, Cisco, and ESET all achieved exceptional scores, with Bitdefender delivering a flawless performance in both the Real-World Protection and Malware Protection tests.Kaspersky, Trellix, VIPRE, and G Data also maintained strong protection rates with no false alarms on critical business software.Avast, CrowdStrike, K7, and Microsoft demonstrated robust security features while maintaining a balance between protection and low system impact.Other top performers include Elastic, NetSecurity, Rapid7, SenseOn, and VMware, all of which delivered competitive results, meeting or exceeding the high standards required for certification.

Across the board, these products ensured a high level of security for enterprise environments, with zero false positives on common business software. The tests were conducted under real-world conditions to reflect the cybersecurity challenges and demands faced by modern enterprises.

Peter Stelzhammer, co-founder AV-Comparatives: “Our rigorous testing process highlights the high quality of enterprise security solutions available today. These products offer businesses both the strong protection they need and the performance they demand.”

About AV-Comparatives: AV-Comparatives is a globally recognised, independent organisation offering systematic testing to examine the efficacy of cybersecurity solutions. Using one of the most comprehensive and rigorous testing methodologies, AV-Comparatives provides businesses and consumers with unbiased, transparent, and reliable test results.

AV-Comparatives – Where Security Meets Trust – Unbiased. Transparent. Trusted.

Contact:  Peter Stelzhammer, media@av-comparatives.org, +43512287788  

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Agoda Shares Four Hot Spring Destinations in Asia for a Cozy Winter Escape

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SINGAPORE, Nov. 18, 2024 /PRNewswire/ — As winter approaches, digital travel platform Agoda shares a list of four hot spring destinations in Asia that are sure to offer some warmth and relaxation. These natural thermal baths offer travelers a perfect way to relax and rejuvenate while experiencing the unique cultural and natural beauty of the region during the colder months.

With temperatures dropping, hot springs become more than just baths—they are places to unwind, recharge, and connect with nature. Whether tucked in the mountains or hidden in lush forests, these hot springs offer travelers an escape into some of Asia’s most beautiful landscapes.

Andrew Smith, Senior Vice President, Supply at Agoda shared, “While hot springs can be found around the world, there’s something special about soaking in these unique spots in Asia. It’s not just about warmth and relaxation but about stepping into a tradition, as they’re often an important part of the local culture. Agoda is there to help travelers plan a cultural wellness trip with holiday accommodations near each of the highlighted hot spring destinations.”

The four remarkable hot springs are:

China: Sichuan Hot Springs

Sichuan is home to famous springs like those at Hailuogou and Emei Mountain, where travelers can soak in hot waters while taking in stunning natural scenery. It’s the perfect place to enjoy a moment of calm, surrounded by nature.

Japan: Hakone Hot Springs

Close to Tokyo, Hakone is famed for its onsen, with views of the iconic Mount Fuji. Visitors can unwind in the traditional thermal baths and experience authentic Japanese hospitality at nearby ryokans.

South Korea: Onyang Hot Springs and Osaek Carbonated Hot Springs

South Korea boasts several notable hot spring destinations. Onyang Hot Springs in Asan is one of the oldest and most famous, renowned for its mineral-rich waters believed to have healing properties. Osaek Carbonated Hot Springs in Yangyang, nestled within the Seoraksan National Park, offers a unique experience with its naturally carbonated waters.

Taiwan: Beitou Hot Springs

Nestled in Taipei, Beitou is a hot spring paradise with resorts and public baths. The area blends natural hot springs with cultural sites like the Beitou Hot Spring Museum, offering a rich tapestry of relaxation and history, easily reached via Taipei’s public transport system.

Agoda’s extensive offerings make planning a winter hot spring retreat seamless. With over 4.5 million holiday properties globally, more than 130,000 flight routes, and over 300,000 activities, travelers can effortlessly combine accommodations, flights, and experiences to craft their perfect getaway. For more information, download the Agoda app or visit agoda.com.

— ENDS —

 

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SOURCE Agoda

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Peter England presents an exclusive campaign – ‘The Bollywood Wedding’ with iconic filmmaker Karan Johar

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Going Big Across India: The campaign goes live in over 150 Stores, through traditional media, on ground activations and Digital Collaborations for a Truly Iconic Experience

MUMBAI, India, Nov. 18, 2024 /PRNewswire/ — Ahead of the wedding season, Peter England, a leading name in Indian menswear from Aditya Birla Fashion and Retail, has partnered with iconic filmmaker Karan Johar to launch a first-of-its-kind campaign ‘The Bollywood Wedding’. Bringing the glamour and vibrancy of Bollywood weddings to life, this campaign celebrates the fusion of traditional elegance and contemporary style, inviting grooms and guests to step into the spotlight with confidence and flair.

The film features Karan Johar on a playful quest to choose the perfect name for the collection, suggesting titles like ‘Dulha Sajake Rakhna’ and ‘Baarat Ho Toh Aisi’ etc. Through these names, he taps into the quintessential Bollywood wedding tropes, celebrating the glamour, grandeur, and drama that are hallmarks of Indian cinema weddings. Delighted by the collection being named ‘The Bollywood Wedding’ Karan confidently exclaims that this ought to be the next blockbuster, showcasing his unwavering belief in its appeal and its potential to captivate audiences.

The campaign highlights Peter England’s commitment to elevating its presence in occasion wear, positioning the brand as a premier lifestyle choice for the modern man. With a refined focus on wedding and festive attire, Peter England aims to establish itself as the go-to destination for sophisticated and stylish celebration wear. The brand’s wedding collection features a broad selection of classic two and three piece suits along with sophisticated velvet bomber jackets, tailored shirts providing a perfect destination for the groom and his entourage for the special day.

Anil S Kumar, COO of Peter England, shared the vision behind this fabulous collection: “‘The Bollywood Wedding’ campaign, in collaboration with Karan Johar—a true icon in both film and fashion—embodies our commitment to empowering grooms and groomsmen to shine with confidence on their big day. We have crafted a collection that captures international style, luxurious fabrics, and the magnetic allure of Bollywood, making Peter England the ultimate destination for unforgettable wedding attire.”

Bollywood director and actor, Karan Johar, announced the launch, exclaiming, “When I heard Peter England was doing a Bollywood-inspired collection, I was immediately curious. But when I saw what they had created, I was ecstatic. I love how the brand has captured the essence of Bollywood glamour in every detail—whether it’s a shirt or a suit—and I’m thrilled to be part of this launch.”

This campaign is now live across India, spanning over 150 stores and reaching audiences through both traditional and digital media. The campaign will be further amplified through on-ground activations and exciting content collaborations, making it a larger-than-life experience for the audience.

This campaign reflects Karan Johar’s signature style—bold, glamorous, and effortlessly chic—while bringing to life the extravagant celebrations that define Indian cinema weddings. As he confidently states, this collection is his next blockbuster, promising to captivate the hearts of grooms and wedding guests alike and offering every man the chance to shine like a true Bollywood hero.

About Peter England:

Peter England is one of the most loved and largest menswear brands in India. It sells more than 14 million garments every year across 1100+ exclusive stores, 3500+ multi-brand outlets and 800+ towns. The brand also holds a strong e-commerce presence. Peter England has been voted as India’s Most Trusted Apparel Brand for 7 consecutive years by the Economic Times Brand Equity Survey. The brand is committed to offering varied styles across categories at affordable prices. Peter England was first launched in India by Madura Fashion and Lifestyle (previously known as Madura Garments) in the mid-price segment in 1997; the company acquired the world rights for the brand in 2000. What began as a brand of honest shirts in 1997, in India, is today a complete lifestyle brand with merchandise available every day and for all special occasions. The brand’s formal wear range of crisp formal shirts, well-tailored suits, jackets & trousers combines high fashion and impeccable fits along with a wide selection of highly curated looks for modern professionals. The casual wear range is a highly eclectic line of washed cotton shirts, denim, cargo bottoms, graphic tees, Polos, and winter wear. The ‘Select’ line brings together premium formal wear with an emphasis on fine detailing with a hint of colour, comfort, and panache. While the assorted collection of ties, pocket squares and belts assert a distinctive style statement from the newly launched innerwear line ensure the highest comfort and great fit. While the brand continues to expand across India, it introduced a brand-new retail identity called the Peter England Men’s Obsession, which is large format store housing over 2000+ unique designs at an unmatched value, all the while delivering a young, vibrant shopping experience for all.

About Aditya Birla Fashion and Retail Limited:

ABFRL is part of a leading Indian conglomerate, The Aditya Birla Group. With revenue of Rs. 13,996 Cr. spanning retail space of 11.9 million sq. ft. (as of March 31, 2024), it is India’s first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats.

The Company has a network of 4,664 stores across approximately 37,205 multi-brand outlets with 9,563 points of sales in department stores across India (as of 31st March 2024). It has a repertoire of India’s largest brands in Louis Philippe, Van Heusen, Allen Solly, and Peter England, established over 25 years. Pantaloons is one of India’s leading fashion retailers. The Company’s international Brands portfolio includes – The Collective, amongst India’s largest multi-brand retailers of international brands, and has long-term exclusive partnerships with select brands such as Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle, Reebok, Simon Carter, and Galeries Lafayette.

The Company’s foray into the branded ethnic wear business includes brands such as Jaypore, Tasva & Marigold Lane. The company has strategic partnerships with Designers ‘Shantanu & Nikhil’, ‘Tarun Tahiliani’, ‘Sabyasachi’ and ‘House of Masaba’. In addition, to cater to the needs of digitally native consumers, ABFRL is building a portfolio of Digital-first brands under its technology-led ‘House of D2C Brands’ venture TMRW. TMRW is on a path to building a portfolio of Digital First brands in partnership with founders of emerging brands in the E-Commerce market.

The Company in Sept 2023 completed the acquisition of a 51% stake in TCNS Clothing Co. Ltd. TCNS is India’s leading women’s branded ethnic apparel company that designs, markets and, retails a portfolio of women’s branded apparel across brands W, Aurelia, Wishful, Elleven & Folksong.

Media Contact: 

Aanchel Batheja
+91 9986698119
aanchel.batheja@prpundithavasred.com 

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