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JinkoSolar Announces Strategic Cooperation Agreement with Maersk Shipping for End-to-end Transportation and Digitalized Logistics Solutions

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JinkoSolar Holding Co., Ltd. (the “Company,” or “JinkoSolar”) (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that its principal operating subsidiary Jinko Solar Co., Ltd. has signed a strategic cooperation agreement with Maersk (China) Shipping Co., Ltd. (“Maersk”). The two companies will jointly conduct multi-dimensional cooperation based on existing end-to-end transportation agreements, and explore in-depth cooperation in digitalized logistics services to provide clients with a range of comprehensive logistics solutions, and to create a green logistics ecosystem.

Mr. Kangping Chen, CEO of JinkoSolar Co., Ltd., commented, “As an international container shipping company with integrated logistics capabilities, Maersk has been an important strategic partner for JinkoSolar since 2017. We are very pleased to expand our strategic cooperation with Maersk, and deepen our resources to jointly develop flexible and convenient solutions to manage the current shortage of containers due to the pandemic and improve transport efficiency. As the world’s leading integrated module manufacturer, we remain optimistic about the growth in demand for solar energy and expect increasing shipment capacity will provide strong support for our global shipment growth over the next few years. By leveraging our mature global customer marketing system, together with Maersk’s extensive network of end-to-end integrated transportation and logistics expertise, we believe that we will be able to share more timely information and provide long-term premium logistics solutions to our global customers.”

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Trimble helps Remove 7 Million Metric Tons of Greenhouse Gas Emissions Annually

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Global construction technology leader Trimble (NASDAQ: TRMB) released its 2020 Sustainability Report recently. According to the report’s findings, Trimble’s solutions contribute to fuel savings around the world that are equivalent to an estimated reduction of 7 million metric tons in greenhouse gas emissions. The report further noted that these savings are equivalent to taking over 1.6 million passenger vehicles off the road for one year; or meeting the electricity needs of over 1.2 million homes for one year.

Trimble’s construction technology solutions alone help reduce 553,964 metric tons greenhouse gas emissions on a yearly basis. These solutions contribute to up to 50% less rework, up to 30% cost savings, waste reduction and up to 30% machine productivity and fuel savings. For civil construction, Machine control systems available from Trimble improve accuracy and efficiency of heavy earthmoving equipment, thereby enabling job completion in less time, and using less diesel fuel. As the adoption of these technologies increases world-wide for infrastructure build-out such reduction is expected to be much greater.

“At Trimble, we support the United Nations Sustainable Development Goals (SDGs) and believe in their potential to shape a better, more equitable, and more peaceful world. For more than forty years, sustainability has been at the heart of our company — from how we operate to the products and solutions we provide to our customers. We are purpose-driven and strive to deliver value that benefits all our stakeholders.”, says Rajan Aiyer, Vice President and Managing Director, Trimble, South Asia Region.

Trimble’s 2020 Sustainability Report summarizes the company’s initiatives and performance across Environmental, Social and Governance (ESG) topics, highlighting the company’s sustainability approach, the sustainability of its end-user industry solutions, community philanthropy through its Foundation, employee engagement and development as well as diversity, equity and inclusion (DEI); and governance.

Trimble’s Agriculture solutions help with up to 30% increased yield, reduced carbon emissions, up to 20% higher water efficiency and up to 30% cost savings. Additionally, the company’s transportation and logistics solutions further lead to up to 20% fuel efficiency.

Trimble is part of Responsible Business Alliance (2021), the world’s largest industry coalition dedicated to corporate social responsibility in global supply chains in 2020. It is named among Investor’s Business’ Daily 50 Best ESG Companies. The company is also listed among Wall Street Journal’s Top 250 Managed Companies.

“Many of our innovations are used in industries where there is huge potential for reducing their environmental impact simply by adoption of cutting-edge technology. As these industries are transformed, we can minimize fuel and water consumption and cut down on harmful emissions,” says Mr. Aiyer. “By synergizing sustainability and innovation, Trimble is committed to developing technical solutions that seize opportunities to protect the planet and its ecosystems while addressing trends that allow society to be more productive, connected, and resilient.”

About Trimble

Trimble is transforming the way the world works by delivering products and services that connect the physical and digital worlds. Core technologies in positioning, modelling, connectivity and data analytics enable customers to improve productivity, quality, safety, and sustainability. From purpose-built products to enterprise lifecycle solutions, Trimble software, hardware, and services are transforming industries such as agriculture, construction, geospatial and transportation. For more information about Trimble (NASDAQ: TRMB), visit: www.trimble.com.

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Best Power Equipments (BPE) Plans to Ramp Up Channel Presence in Southern Market

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Best Power Equipments (India) Private Limited (BPE), India’s leading power manufacturing brand is growing &expanding its presence in southern market. With a strong presence in Tamil Nadu, Hyderabad, Karnataka and Kerala; BPE is planning to ramp up its channel presence. At present BPE has 39 active channel partners and aim to appoint 100+ partners by the end of 2022. BPE will be hiring manpower in the senior management, technical support and sales. 

The company recently bagged order from Indian Navy,Kerala State Electrical City board, Alphonsa Hospital Kerala, ITI and Government fishery department where it has deployed higher and lower kVA Products single and three phase UPS above 200 kVA. 

Commenting on this expansion, Amitansu Satpathy, Managing Director, Best Power Equipments says, “This is a strategic move which will expand & deepen our offerings in these market. The southern markets are a major Technology & automobile hub and will cater to the  huge demand in the IT sector, followed by the IT enabled services, Healthcare, telecom, banking, financial services, insurance (BFSI), and manufacturing.”

The power backup market in India is expected to grow to INR 504.66 billion by 2023, expanding at a compound annual growth rate (CAGR) of 11.28% during 2018–2023. The availability of continuous, quality power is crucial for the optimal performance of critical applications in every industry. 

About Best Power Equipments (BPE)

BPE with its headquarters at Noida, India, was established in the year 2000. The company has strategically expanded, by providing power solutions for IT, Industrial & Critical equipment, telecom, data centers& electro-medical gadgets, not only in India but at Singapore, Malaysia and other countries. 

BPE manufactures at its state-of-the-art manufacturing facility at Noida. The product range includes Line Interactive UPS, Single Phase Online UPS, Three Phase Online UPS, Rack Mount/ Modular UPS and Solar Inverter & IDU.

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Amara Raja Batteries announces a bold ‘Energy & Mobility’ strategy

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  • To invest in new green technologies, including lithium-ion batteries, to capitalize on fast-evolving trends in the Energy and Mobility sectors.
  • To Focus on Value maximization in the Lead Acid Batteries business through geographical and product portfolio Expansion, establishing a global footprint.
  • Founder Chairman Dr. Ramachandra Galla decides not to seek reappointment after 36 years at the helm
  • Vice Chairman Mr. Jayadev Galla to assume the mantle of Chairman of the Board
  • Board inducts Gen-next leaders Harshavardhana Gourineni and Vikramadithya Gourineni as Executive Directors, to actively drive the transition to ‘Energy & Mobility’

The Board of Amara Raja Batteries Ltd. (ARBL) has launched several strategic initiatives to take advantage of fast emerging new opportunities to accelerate growth and enhance stakeholder value. Driven by the transformative changes in its key markets and in keeping with its motto of ‘Gotta be a Better Way’, ARBL has announced ‘Energy and Mobility’ as the strategic focus for the Company going forward.

It has announced expansion of the Lead Acid Batteries business and the establishment of a New Energy SBU encompassing Lithium cell and battery pack, EV chargers, Energy Storage Systems, Advanced Home Energy Solutions and related products and services. While the Board unanimously believes New Energy will provide substantial thrust over the coming decade, there remains a strong conviction on the long-term potential of the Lead Acid
Batteries business. The vital role played by lead acid technology across a variety of applications provide significant growth opportunity in both the domestic and international markets. On the other hand, the emergence of lithium as an alternative energy storage technology opens up new and exciting growth opportunities.

Speaking on the evolving ‘Energy & Mobility’ strategy, Vice Chairman, Mr. Jayadev Galla
said: “After a careful review of the global business opportunities, the ARBL Board has decided to future-proof our business by repositioning ARBL as an Energy and Mobility player. The Board believes that ARBL has to invest in a portfolio of businesses to maintain its technological and business leadership. Over the years, we have built an active distribution network, customer trust and relationship with clear emphasis on maximizing value within lead acid technology. The Company is now well poised to build on these strengths and create multiple new growth engines in the New Energy space.”

The Board has agreed that the Company should continue to invest and expand the Lead Acid Batteries business in which the Company is a significant player in many customer segments. The new strategy, aimed at tapping opportunities in home inverter, motive power and unorganized segments, is expected to further consolidate the Company’s existing strengths and market share. The Company believes that the Lead Acid Batteries business will continue to grow in India owing to the buoyant demand from automotive, industrial, telecom and new emerging segments like data centres. ARBL will further invest in advanced process technologies to maintain its technological edge as well as recycling to enhance critical raw material security and expand its commitment to environmental responsibility. The Company also hopes to pursue inorganic opportunities available in the market to bolster its leadership position. ARBL is confident that these initiatives will result in higher growth rates, increased market share and enhanced stakeholder value.

The New Energy business will build on technological innovations such as Lithium and other new age chemistries that are enabling accelerated transformation in renewable energy, electric mobility, microgrids, etc. The technology in this space is emerging rapidly and often in a discontinuous way. The ACC PLI scheme announced recently by Government of India for Rs 18000 Cr provides a significant impetus for building a domestic supply chain for lithium and other advanced cell chemistries to serve the fast-growing EV and renewable energy sectors. ARBL plans to invest in a bouquet of products and services to accelerate its transformation to an Energy and Mobility solutions provider. To help drive this change, the Board of ARBL has also approved a series of leadership and organizational changes to relentlessly drive the execution of this bold new strategy.
Founder Chairman Dr. Ramachandra Galla, who steered the Company for 36 years and who was largely responsible for its leadership position and stature in the market, expressed his decision not to seek reappointment in the board meeting. The Board accepted his decision and thanked him for his stellar, selfless contribution to the Company for 36 years. His values, outlook, and ideals, as documented in ‘The Amara Raja Way®’, will continue to serve future generations of the Company. He will continue as Director and Chairman till the conclusion of the Annual General Meeting (AGM) in August. Vice Chairman Mr. Jayadev Galla will assume the role of Chairman of the Board after the AGM. The Board also accepted the resignation of Dr. Ramadevi Gourineni as Non-Executive Director of the Company and thanked her for service. A physician by profession, she expressed that the current pandemic situation demands more intensive time and she desires to focus in serving the community in this hour of need.


The Board has decided to induct Mr. Harshavardhana Gourineni (Harsha) and Mr. Vikramadithya Gourineni (Vikram) as Executive Directors. The promoter family had adopted a robust and transparent process of succession planning in 2013 when both Harsha and Vikram were identified as gen-next leaders. Both of them have played transformative roles in building businesses and taking them to new heights. They have proved their leadership capabilities and excelled at all the roles they have been leading over the past 7-8 years.
Given the strategic importance and orbit-shifting potential of the New Energy business to ARBL, the Company has decided that Mr. S. Vijayanand, with his proven track record of performance, will take charge as President – New Energy. The Board also inducted Mr. Annush Ramasamy as Independent Director of ARBL. An engineering graduate and an MBA in Strategy and Manufacturing Management from RIT, Rochester, New York, Mr. Ramasamy has been with Sri KumaraGuru Mill Limited (SKG) as President and Managing Director. He is an active member of the Entrepreneurs Organization, Young Indians, TiE and The Chennai Angels.

About Amara Raja Batteries Limited

Amara Raja Batteries Limited is the technology leader and one of the largest manufacturers of lead- acid batteries for both industrial and automotive applications in the Indian storage battery industry.

In India, Amara Raja is the preferred supplier to major telecom service providers, Telecom equipment manufacturers, the UPS sector (OEM & Replacement), Indian Railways and to the Power, Oil & Gas, among other industry segments. Amara Raja’s industrial battery brands comprise PowerStack®, AmaronVolt® and Quanta®. The Company is a leading manufacturer of automotive batteries under the brands Amaron® and PowerzoneTM, which are distributed through a large Pan-India sales & service retail network.

The Company supplies automotive batteries under OE relationships to Ashok Leyland, Ford India, Honda, Hyundai, Mahindra & Mahindra, Maruti Suzuki, and Tata Motors. The Company’s Industrial and Automotive Batteries are exported to countries in the Indian Ocean Rim.

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Tata Power Celebrates 50 Years of ‘Act for Mahseer’ | Blue-Finned Out Of The Red

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Tata Power stepped up to conserve the endangered Mahseer – also known as Tiger of the freshwaters – fifty years ago.

Quite frankly the more we got into the waters with the Mahseer, the more we realised how intricately this grand fish was connected to our delicate ecological balance and even to the future of our children. So it gives us great pleasure to announce on this World Environment Day that the Blue-Finned (Tor Khudree) – one of the two Mahseer species being bred at Tata Power’s Walvan Hatchery in Lonavala – is now off the IUCN red list.

The IUCN has granted it the status of ‘Least Concern’ which in effect means it is no longer in danger of being extinct, and has warmly acknowledged the role Tata Power has played in the Blue-Finned’s captive breeding and stock enhancement.

The Golden Mahseer is still on that list, and as we recommit ourselves to the cause we promise we will not lie back till this endangered species too swims out of the red.

Why is the Mahseer so important for ecological balance?

This unique fish is very sensitive to dissolved oxygen levels, water temperature and sudden climatic changes. It just cannot bear pollution. So when we spew wastes into our rivers, we are not only sounding a death knell for the Mahseer, we are also losing an important indicator of freshwater ecosystems. So it cuts both ways.

Also, the current pandemic has taught us that by hunting animals and indiscriminate fishing we are destroying entire habitats and eco-systems. Thus making it easier for diseases to spread from one animal or bird or fish to another, and then spill over onto humans.

It follows then, that conserving the Mahseer, increasing its numbers, and getting it off the IUCN red list is even more important today than ever before. To stabilise our disturbed environment, to preserve our bio-diversity, and to ultimately save our very lives. The initiative that Tata Power began fifty years ago, now has an urgency to succeed like never before. If nothing else, we owe it to our children to make this world more ecologically balanced and disease free. And this can only happen by preserving crucial species like the Mahseer.

How Tata Power has empowered the Mahseer

Tata Power has developed an ingenious method to breed 4-5 lakh Mahseer hatchlings at a time at its Walvan Hatchery in Lonavala. The century old company has created a huge lake by damming the Indrayani River. It is here that the Blue-Finned and Golden species of Mahseer congregate, attracted by the sound of the highly oxygenated water in the lake.

The brooder fish (that are used to spawn hatchlings) are collected from here and introduced into ponds or lakes that have gushing water falling from heights to mimic the sounds of monsoon and waterfalls (since this stimulates the brooder’s reproductive process).

Experienced fishermen then strip the brooders of eggs and sperm in a delicate and expert operation. The eggs and sperm are then placed together in large breeding trays to fertilise. Here again, good eggs which are golden in colour are given pride of place.

Once the eggs are fertilised, (over the last 50 years there have been 15 million of them), the baby hatchlings emerge within 72-96 hours and search for dark places to hide. They seem a bit shy at first, but after a month the hatchlings (or fry, as they are called) are about a centimetre long and move around vigorously. And at the end of 4-6 months they are ready to be handed over to various fisheries departments across the country, who in turn introduce them into lakes and rivers in their states. This too is a very careful and well-coordinated effort between Tata Power and the Fisheries Departments and over the years has resulted in some 11.6 million hatchlings making their homes in waters all over India and growing into awe-inspiring specimens that can measure up to 9 feet long weigh up to 33 kilograms!

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Solis, Waits for You at SNEC!

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SNEC PV Power Expo is an international, professional and large-scale PV event held annually in Shanghai, showcasing the latest achievements of intelligent manufacturing and innovation and leading the new development trend of the industry. Solis has been participating in the SNEC for 9 consecutive years. Both witnessed the growth of each other.

Every year, Solis will make full use of the golden opportunity to let its booth E7-001 become the center of attention at the Expo. Every year, it will bring something new, create a new record, start a new trend, and offer an amazing exhibition experience for visitors, which is not only a feast for both eyes and ears, but also full of business opportunities.

Highlight 1

Make a stunning appearance

At the 543m2 booth of Solis, the sea is roaring on the big screen, with the naked-eye 3D visual effect which is so amazing that many visitors cannot help but stop to take photos.

Solis brought all its hit products here. At the area for “Solis” series and “Solis” products, you can see a full range of string inverters from 700W to 350kW.

Besides, the booth also fully displays Solis’s scientific research technologies and its brand charm.

Highlight 2

Release new products

It’s well known that the three major PV application scenarios respectively correspond to Solis’s residential ace model, C&I flagship model and annual blockbuster model. The full range of products are much favored by customers for their advantages in system-friendliness, intelligent operation and maintenance, efficient power generation, safety and reliability, as well as full-cycle solutions. They really bring more possibilities to the industry.

New product① G6-GU320K-EHV

G6-GU320K-EHV is the representative product of the booth themed by “high current and high power”. It makes higher power and lower LCOE possible. With a single maximum power up to 352kVA, this new arrival is one of the largest single string inverters in the world at present.

Guided by the country’s strategic goals of peaking carbon dioxide emissions before 2030 and achieving carbon neutrality before 2060, the new product provides a strong boost to the economic, safe, intelligent and stable development of PV energy. It’s fair to say that enough have been done to reduce the LCOE. In addition to using 1500VDC voltage on the DC side to support both sides, the AC side has also been fully adjusted to allow access to the maximum 400 mm2 aluminum cable.

Of course, its advantage is not only confined to cost reduction. It’s really good in boosting production. It can work at a temperature ranging from -30℃ to 60℃ and support full-power output at 45℃. In extreme conditions, its 25-year yield is about 3.4% higher than other solutions. According to calculations, the use of G6-GU320K-EHV for a 100MW power station can help the system lower the LCOE by nearly 3%.

Furthermore, it features a maximum input current of 45A per MPPT. Therefore, it is currently the string inverter with the largest single MPPT current in the same power segment on the market. The DC breaking scheme with electronic decoupler is introduced on the DC side, which greatly improves the system safety. Meanwhile, the excellent grid compatibility and the integration of digital technology will undoubtedly make it one of the main forces in building a new power system with new energy as the main body.

New product ② Flexi-ONE, a PV energy storage integrated energy conversion device

Another product premiered by Solis at the Expo is Flexi-ONE, a PV energy storage integrated energy conversion device. It is designed to provide an intelligent and convenient solar PV-ES solution. The inverter, battery, switch and the like are integrated in a space of only 0.5 m3, which makes it easier to install on site and maintain afterwards.

Flexi-ONE can continuously support 5kW power output and 6kW peak power output within 30 seconds. This makes it suitable for most households. Its MPPT efficiency is greater than 99.9%, with a maximum efficiency of 97.5%. This makes it able to provide higher output. Moreover, it is compatible with a variety of brands of batteries, thus being able to provide you with more flexible choices.

Flexi-ONE is extremely safe and reliable. It has quite a few technological breakthroughs in both software and hardware, including the integrated backup bypass switch and the new-generation electrical structure design which is composed of the latest improved full-bridge LLC topology, the latest application of SiC technology, strengthened overall protection logic, ripple suppression technology and the application of independent tunnel cooling technology.

All these, together with the application of redundant protection technologies such as AFCI , fuse + circuit breaker and the like, fully demonstrate Solis’s concept of extreme safety for energy storage. We believe that this product with a modern and stylish appearance will impress you with its powerful performance and profound content.

Highlight 3

Visit the Expo and gain a different experience

When visiting the Expo, you can interact face-to-face with the secretary-generals of the PV industry in various regions online as long as you scan the QR code of the Expo and follow it! The Expo is live streamed online for 8 hours every day via Tiktok and WeChat video account, with tens of thousands of viewers.

There are lots of surprises waiting for you on the spot, such as red envelopes, exhibition gifts, blind boxes, PV passport stamp, summer gift bags, and promotional materials of enterprises.

At the Expo, Solis booth is so busy. Visitors from different regions and provinces showed great interest in our products and kept asking questions. Our staff gave serious and detailed responses. Undoubtedly, our products have been highly recognized by visitors with their high quality and innovative features. This helps Solis further enhance its brand recognition.

On June 4-5

the Expo remains here waiting for you.

Scan the QR code below for more beautiful pictures.

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Jindal Stainless Limited gets a major credit re-rating

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CRISIL Ratings assigns ‘CRISIL A+/Stable’ to long-term credit facilities of JSL

In a first-ever development, CRISIL Ratings has assigned ‘CRISIL A+/Stable’ rating to the long-term credit facilities of Jindal Stainless Limited (JSL). Short-term credit facilities of JSL have been rated ‘CRISIL A1’. Earlier, in January this year, JSL was accorded ratings of ‘IND BBB+’ and ‘CARE BBB+’ by India Ratings and Research and CARE Ratings respectively for the long-term debt facilities. The present rating is three notches higher than the earlier ratings. 

Among the major determinants acknowledged by CRISIL for the ratings is the superior market position with a sizeable quantum of exports and significant improvements in overall operating efficiency ensuring stable profitability. CRISIL has also taken into account a significant improvement of financial risk profile with consistent debt reduction over the past few years. The ratings also endorse efficient working capital management by the Company. 

Commenting on this development, Managing Director, JSL, Mr Abhyuday Jindal said, “This rating is a testament to a strong business model at JSL and the inherent strengths of the group to continue delivering strong business performance. It acknowledges considerable deleveraging, as we have reduced the debt by around 35%, and we intend to maintain our focus on robust balance sheet management. In this hour of need, we are also proud to contribute towards Atmanirbhar Bharat not only through manufacturing, but also by ramping up oxygen supplies to various parts of the country.”

The rating also factored in a healthy business profile of the Jindal Stainless group, which is the market leader in the domestic stainless steel industry in India. Furthermore, CRISIL has taken note of the strong consolidated business entity that will emerge after the merger of the JSL & Jindal Stainless (Hisar) Limited, which is currently under process. This merged entity will have a large scale of operation with a high market share along with a diversified product basket.

Excerpts from the reports:

Superior market position coupled with a sizeable export presence:

“The group through its manufacturing plants in Hisar, Haryana (JSHL plant with capacity of 0.8 mtpa) and Jajpur, Odisha, (JSL plant with 1.1 mtpa), is the largest manufacturer of SS flat products in India. Capabilities to manufacture a wide variety of grades across all series of SS (mainly 200, 300 and 400 series – classified based on exact content of nickel and other alloys) has helped the group cater to a diversified end-user base, comprising automobile-railway-transportation (ART), architecture-building-construction (ABC), process industries (food and pharma), consumer goods (durables, kitchenware), and healthcare (equipment)… Both the plants together export nearly 16% of overall production (during the first nine months of fiscal 2021 [9MFY21]). Its major export markets include Europe, South East Asia, and Middle East.

Improvement in operating efficiencies:

While profitability is largely dependent on price of inputs (mainly nickel and chrome ore) and the product mix (200, 300, 400 series), the group has taken several measures that have led to improvement in its operating performance. In JSL’s plant it has installed a railway siding to transport raw material and finished goods leading to savings on logistics costs and substituted high cost propane with cheaper coke oven gas. Furthermore, the JSL plant is located in Odisha, which has 93% of India’s chromite ore reserves (apart from nickel, chrome is key input in making SS) and is supported by a captive power plant of 264 megawatts (MW) which covers bulk of its electricity requirement. These initiatives coupled with stable demand indicators led to significant improvement in capacity utilisation with production rising from 0.45 mt in fiscal 2015 to 0.97 mt in fiscal 2020… CRISIL Ratings expects the group to maintain its strong market position, diversified product segments and ability to manage fluctuations in raw material prices.

Significant improvement in financial risk profile over the past few fiscals supported by debt reduction:

Higher utilisation levels, coupled with healthy realisations led to significant rise in operating profitability for JSL, with EBTIDA/tonne (consolidated) increasing to Rs 15,481 during 9MFY21 rising from Rs 13,661 in fiscal 2019. Consequently, JSL has been able to substantially reduce consolidated external debt levels to Rs 2,124 crore as on December 31, 2020, from Rs. 3,488 crore as on March 31, 2019. JSHL too has pared its consolidated debt to Rs 2,009 crore from Rs 2,367 crore, over the same period. CRISIL Ratings understand that the group continued to reduce debt in the last quarter of fiscal 2021, resulting in repayment of nearly Rs 1,700 crore of debt in fiscal 2021 (which included prepayment of around Rs 1,100 crore which represents bulk of their scheduled term debt obligations over the next two fiscals) between the two companies, underpinning the strong focus of the management towards debt reduction.

With further debt reduction in the last quarter of fiscal 2021 and scheduled repayments in fiscal 2022, CRISIL Ratings expects the interest coverage to improve to over 5 times and net debt/EBITDA to be less than 1.5 times, at the group level for fiscal 2022.

Prudent working capital management:

Further, with improving scale the group saw better bargaining power with suppliers and customers. Receivables for both entities have been below 30 days over the last three fiscals, while payables ranged between 75-90 days. The group has taken several steps to minimise inventory levels, especially that of nickel (which is the costliest input material) through regular monitoring, in order to minimise any impact of price volatility. It also maintains a healthy order book to better manage pricing risk.” 

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Numaligarh Refinery Limited Implements Hexagon’s Operations Management Solution as Part of its Digital Transformation Initiative

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Hexagon’s PPM division announced that Numaligarh Refinery Limited (NRL) has implemented j5 Operations Management Solution (j5 OMS) to ensure safe, efficient and compliant operations of its industrial sites. The j5 OMS inauguration ceremony took place at NRL’s refinery site in Numaligarh in December 2020.

The event was hosted by NRL and led by Managing Director Mr. S. K. Barua and the rest of the management team, including Director Technical Mr. Bhaskar Jyoti Phukan and Director Finance Mr. Indranil Mittra. The senior leaders and the j5 OMS Core Team members from NRL Operations Team were also present. 

The inauguration ceremony marks the acceleration of NRL’s digital transformation journey as the j5 OMS adoption helps the company create a digital shift logbook and digitalize shift operations. The new j5 OMS combines the data collected by the employees with the information from historians, providing NRL’s Operations team with a single source of truth for Operations.

NRL will follow a phased approach for the j5 OMS deployment and has started the implementation with five refinery units: hydrocracker, solvent de-oiling, power and utilities, diesel hydrotreater and the Numaligarh Refinery Marketing Terminal (NRMT). A refinery-wide implementation of the solution is planned in first half of this year. 

Hexagon’s j5 OMS combined with the j5 Connector for AspenTech will empower the NRL team with advanced business operations and technology transfer capabilities. This will improve shift-to-shift communication and help NRL reduce the risk of hazardous incidents, equaling industry-wide shift handover recommendations by experts. NRL’s personnel also will be able to collect measurements or observations in the field with industry-standard mobile devices.

Mr. S. K. Barua, MD at NRL, said,“Hexagon solutions will accelerate and support our digital transformation journey by enabling us to optimize our business operations. Hexagon solutions provide us with efficient, intelligent, and data-centric work processes with auditable traceability, supporting the entire facility lifecycle.”

“This partnership between NRL and Hexagon marks the first public service company j5 OMS adoption in India. Digitalizing the Operations workforce at the NRL refinery will enable NRL to not only see major advancements in the management of their daily operations but also ensure the best in market safety and sustainability standards. We look forward to successful adaptation of the technology,” said Mr. Chanpreet Sahni, Vice President for Hexagon’s PPM Division in India, following the inauguration ceremony.


About Hexagon
Hexagon is a global leader in sensor, software and autonomous solutions. We are putting data to work to boost efficiency, productivity, and quality across industrial, manufacturing, infrastructure, safety, and mobility applications.

Our technologies are shaping urban and production ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future.

Hexagon’s PPM division empowers its clients to transform unstructured information into a smart digital asset to visualize, build, and manage structures and facilities of all complexities, ensuring safe and efficient operation throughout the entire lifecycle.

Hexagon (Nasdaq Stockholm: HEXA B) has approximately 21,000 employees in 50 countries and net sales of approximately 3.8bn EUR. Learn more at hexagon.com and follow us @HexagonAB.  

About Numaligarh Refinery (NRL)
The Numaligarh Refinery (NRL) is an energy company owned by Bharat Petroleum Corporation Limited, Government of Assam, and Oil India Limited, located in the Brahmaputra valley in the region of Assam. The commencement of commercial operations started in 2000, and in 2019, the Cabinet Committee of Economic Affairs approved the Numaligarh Refinery Expansion Project (NREP) to expand the production capacity. www.nrl.co.in



© 2021 Hexagon AB and/or its subsidiaries and affiliates. All rights reserved.

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Rajesh Mohata appointed as CEO of JSL Lifestyle Limited

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The Board of JSL Lifestyle Limited (JSLL), a subsidiary of Jindal Stainless (Hisar) Limited (JSHL), has announced the appointment of its new Executive Director and CEO, Mr Rajesh Mohata. In his role, Mr Mohata will be leading JSLL’s customer-centric brands – Arttd’inox & ARC, and its various business verticals, including tableware & home décor, bespoke kitchens, sanitation solutions, commercial kitchens, infrastructure, Original Equipment Manufacturing (OEM) businesses, and plumbing solutions. Mr Mohata is a seasoned business professional with over 28 years of experience in varying domains of Oil & Gas, Metal & Mining, Energy, and Cement industries. 

Commenting on the appointment, Managing Director, JSLL, Ms Deepika Jindal said, “As we pursue operational efficiency and long-term value creation for stakeholders, we are pleased to welcome a promising leader like Rajesh. I am confident that his expertise and strategic thinking will guide the Company to grow across all B2B and B2C segments and innovate to capitalize new opportunities”. 

Having earned his bachelor’s degree in Engineering (Civil) from MBM Engineering College, Jodhpur, Mr Mohata has spearheaded some of India’s frontline organizations in various capacities, like Aditya Birla Group, Reliance Industries, Essar, RPSG, Adani, and Vedanta. He has been acknowledged for his leadership at various business platforms. His personal interest areas include yoga and running. Mr Mohata is an avid reader and shares a keen interest for philanthropy.

About JSL Lifestyle Limited

JSL Lifestyle Limited, a subsidiary of Jindal Stainless (Hisar) Limited, is a pioneer in creating innovative and futuristic stainless-steel installations for aesthetic, residential, architectural, infrastructural, railways, and sanitary applications. The company promotes stainless-steel as the core ingredient in wide-ranging applications through its two brands — Arttd’inox and ARC.  Launched in 2003 by Ms Deepika Jindal, Arttd’inox is the first B2C brand from the house of JSL Lifestyle Ltd. With the objective to fan out the applications arena of stainless steel from kitchen shelves to the entire house and office, Arttd’inox has introduced excellent designs & forms in stainless steel tableware & home décor products in India. Through ARC, JSL Lifestyle Ltd. has created a strong presence in sectors like Automotive, Railways & Transport (ART), Architecture, Building & Construction (ABC), original equipment manufacturing (OEM), infrastructure, plumbing solutions, and retail. A few of the several services offered under ARC include customized stainless-steel products, inventory management, warehousing, material testing, engineering work, fabrication of quality material, and job site supervision by trained personnel.

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India Ratings & Research assigns IND A/RWE to Jindal Stainless (Hisar) Limited’s credit facilities

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For the first time, the long-term credit facilities of Jindal Stainless (Hisar) Limited (JSHL) have been assigned IND A/RWE rating by India Ratings and Research (Ind-Ra). Additionally, JSHL’s short-term credit facilities were assigned IND A/RWE/INDA1 by the agency. This rating factors in a string of positive developments at JSHL in the last few months, despite pandemic-induced disruptions. Ind-Ra has placed the Company’s long-term rating on RWE (Rating Watch Evolving), owing to the proposed merger between JSHL and Jindal Stainless Limited (JSL) that is being monitored by the agency.

Managing Director, JSHL, Mr Abhyuday Jindal said, “JSHL enjoys immense financial flexibility, given its scale of operations and a diversified product mix. Ind-Ra has acknowledged JSHL as a competent entity in meeting its entire financial obligations. The assigned rating indicates a positive financial profile of JSHL, despite COVID-related disruptions that temporarily halted business activities. The agency is also expecting a positive outcome from the proposed merger between JSL & JSHL.”

Jindal Stainless (Hisar) Limited Received Global Environment 2020 Award

As a part of its rating process, Ind‑Ra has recognized significant debt reduction by JSHL and a strong domestic demand post the peak-COVID period while assigning credit facilities ratings. These led to a healthy improvement in the Company’s balance sheet. The agency has noted JSHL’s merger with JSL, along with JSHL’s adequate liquidity position and diverse product profile as key drivers for the assigned ratings. Ind-Ra has upheld that the proposed merger will result in an ‘Industry leading business profile supported by large scale of operations, high market share and greater diversification across end-user segments’.

Excerpts from the reports:

 Expected benefits of proposed merger:

“The management believes the proposed merger of JSHL into JSL will create a large stainless steel entity, globally among the top 10, with a capacity of 1.9 million metric tonne(MT) per annum… Ind- Ra expects the combined entity post-merger to have a more diversified end-customer base; higher bargaining power with raw material suppliers given the scale of operations; diversified plant operations (Jaipur (Odisha) and Hisar (Haryana)); higher share of speciality products and a more balanced ratio of domestic-to-export sales. Additionally, the agency believes operational diversification will stem from JSL’s Jajpur plant offering benefits of efficient raw material procurement and export markets, due to port proximity (Paradip, Dhamra and Vizag) while JSHL’s Hisar plant benefits from its proximity to the domestic consumption hub in northern India

Sharp Recovery from Covid-19 disruptions:

JSHL’s standalone as well as consolidated revenue recovered completely in 2QFY21 to its pre-COVID-19 levels, led by strong domestic pent-up demand…Ind-Ra expects this strong demand momentum to be sustained over 2HFY21, led by controlled imports and the swift recovery in domestic demand. Ind-Ra expects JSHL’s volumes to grow by around 13% yoy in 2HFY21 to about 350,000 tonnes, thereby restricting the sales volume decline in FY21 to about 9%. JSHL’s 9MFY21 volume decline reduced to 13% yoy as 3QFY21 volumes grew at 23% yoy.

Significant Debt Reduction plans:

The management has enhanced focus on strengthening the balance sheet over FY21, with accelerated long-term debt repayments using strong free cash flows achieved by strong profitability; optimised working capital cycle and low capex outflows in FY21. Ind-Ra expects JSHL to reduce its total loans (excluding LC acceptances) by around INR4 billion to around INR17.6 billion over FY21 (9MFY21:INR20.1 billion; FY20:INR22 billion) through expected healthy operating free cash flows of around INR5.2 billion (INR1.9 billion; INR5.7 billion).

Jindal Stainless Foundation and The Women of Elements Trust launch a helpline for domestic violence victims

Liquidity Indicator – Adequate:

The consolidated fund-based limit and non-fund-based limit utilisation was about 50% and 60%, respectively, for the 12-months ended December 2020. As of December 2020, JSHL had

INR0.01 billion of cash and equivalents and INR2 billion of unutilised fund-based credit lines against the available drawing power. JSHL’s management plans to prepay FY22’s scheduled debt repayments of INR2.7 billion in FY21, along with FY21’s scheduled repayments of INR1.4 billion.” 

https://www.indiaratings.co.in/PressRelease?pressReleaseID=53876&title=India-Ratings-Assigns-Jindal-Stainless-%28Hisar%29%E2%80%99s-Bank-Loans-%E2%80%98IND-A%E2%80%99-%26-CP-%E2%80%98IND-A1%E2%80%99%3B-Places-on-RWE

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