Business Buzz 24

New Delhi : GAIL (India) Limited’s Annual Report and Financial Statement for the year ended 31st March 2021 has won the ‘Gold Shield’ in the Institute of Chartered Accountants of India Awards for Excellence in Financial Reporting for 2020-21.   Dr Jitendra Singh, Union Minister (centre) presenting the ‘Gold Shield’ in the ICAI Awards for Excellence in Financial Reporting for 2020-21 to RK Jain, Director (Finance), GAIL (on his left)   R K Jain, Director (Finance), GAIL received the award on behalf of the company from Dr Jitendra Singh, Minister of State (Independent Charge) of the Ministry of Science and Technology; Minister of State (Independent Charge) of the Ministry of Earth Sciences; Minister of State in the Prime Minister’s Office, Public Grievances and Pensions, Department of Atomic Energy and Department of Space. The award, in the Category XI – Public Sector Entities of ICAI Awards for Excellence in Financial Reporting for the year 2020-21, was given after reviewin...

Somany Home Innovation Limited (SHIL), the Consumer Appliances and Building Products Company, today announced its financial results for the quarter ended December 31st, 2021. SHIL reported consolidated revenue from operations of Rs 649 crore, registering a growth of 26% on a Y-o-Y basis compared to Rs 517 crore in the same quarter last year. EBITDA recorded a growth of 6% Y-o-Y and increased to Rs 62 crore in Q3 FY22. PBT grew by 5% Y-o-Y during the quarter. The Building Products Division continues to move from strength to strength, on the back of the strong performance of its businesses i.e. Sanitaryware, faucets, and plastic pipes and fittings businesses. The Building Products Segment delivered another robust quarter with Revenue from Operations and EBIT coming in at Rs.496 crore and Rs.46 crore respectively. Both Sanitaryware and Faucets businesses saw significant growth in their respective market shares, on the back of product and design leadership, brand salience, wide product p...