Business

Chairman of Lumax Auto Technologies Deepak Jain. File
| Photo Credit: Ramesh Sharma

“The government wants to increase credit availability to micro, small and medium enterprises (MSMEs) and also improve them by enhancing technology,” an official said on Friday (May 30, 2025).

Addressing the Confederation of Indian Industry’s (CII) Annual General Meeting, Rajneesh, Additional Secretary and Development Commissioner, Ministry of MSME said, “India is the fourth largest economy today and would be the third-largest soon.” Mr. Rajneesh highlighted how MSMEs took a hit during COVID-19 but turned around very fast.

He said that “MSMEs provide employment to 27 crore people and that is why the Ministry keeps them in mind while making policies.”

“We want to increase credit availability to MSMEs. This year’s Budget provided for providing credit cards to micro enterprises,” he said adding “MSME NPAs (bad loans) were less than 5% in last five years as per RBI data.”

He also highlighted the role of technology to improve MSMEs, suggesting that through the use of technology, issues between environment concerns and growth aspirations can be resolved.

Sunil Mathur, Managing Director and CEO of Siemens Limited, said, “today average productivity level is 75% in India, whereas it is more than 90% in Europe, and use of technology can help bridge this gap (productivity).” He pointed out that Indian MSMEs are dealing with challenges including access to market and finance.

Shreekant Somany, CMD Somany Ceramics, said, “digitisation helps MSMEs reduce cost and improve operational efficiency and suggested that MSMEs find new ways for rating them properly so that they get required financial facilities.”

“We must support MSME innovation hubs for improving quality of products to meet global standards,” he said, opining that regulatory compliance burden is heavy on MSMEs. Deepak Jain, chairman Lumax Group, said, “MSMEs represent the true entrepreneurship spirit of India.”

“We need to have very collaborative ecosystem… today ecosystems compete with each other,” he said citing example of China competing with other ecosystems globally. He stressed on the need to support MSMEs saying that supporting MSMEs should be a national competitive strategy.

Hindustan Unilever Ltd (HUL) Managing Director Rohit Jawa’s total remuneration rose by 3.75 per cent in FY25 to 23.23 crore, according to the company’s latest annual report.Jawa’s annual pay package included a salary of 3.65 crore, allowances of 11.45 crore, a bonus of 3.78 crore, and long-term incentive perquisites amounting to 2.76 crore, PTI reported.The report stated that Jawa’s remuneration was 146.47 times more than the median remuneration of employees. In FY24, the ratio was higher at 153.03 times.Meanwhile, the number of permanent employees at the FMCG major fell by 8.46 per cent. HUL had 6,604 permanent employees on its rolls as of March 31, 2025, compared to 7,215 the previous year.The median remuneration of employees increased by 8.39 per cent in FY25.“Average increase made in the salaries of employees other than the managerial personnel in the financial year was 4.62 per cent and does not include increase on account of promotions. Increase every year is an outcome of the company’s market competitiveness as against its peer group companies as well as financial performance,” the annual report noted.Addressing shareholders, Jawa said FY25 saw a moderation in urban demand and a gradual recovery in rural consumption.“Against this backdrop, we remained focussed on driving volume growth and strengthening competitiveness for the business,” he said.HUL Chairman Nitin Paranjpe said the company navigated a challenging operating environment, marked by uneven weather patterns, volatile commodity prices, and muted consumer demand.He added that India is “well-poised to deliver strong and consistent growth with rising affluence, a burgeoning middle class, a vibrant young working population empowered by a strong public digital backbone and growth-oriented policies.”“Economic development, technological advancements and a better quality of life have fuelled the aspirations of our consumers. These new dynamics present a significant opportunity for the FMCG sector,” he said.Paranjpe said HUL is witnessing a rapid evolution of the Indian consumer due to greater digital access and information.“We are building a robust portfolio for future growth, by sharpening our ‘where to play’ choices. In line with this, we announced the acquisition of premium science-backed beauty brand, Minimalist. This acquisition is in line with our vision to become the beauty shapers of India,” he said.In FY25, HUL also divested its water business, Pureit, and announced the decision to demerge its ice cream division, which includes brands such as Kwality Wall’s, Cornetto and Magnum.The company, which owns brands like Lux, Rin, Surf Excel, Pond’s, Dove, Horlicks, Bru, and Lipton, reported a turnover of 60,680 crore and a profit after tax of 10,644 crore in FY25.

IndiGo CEO Pieter Elbers (File photo)

IndiGo is stepping up its global ambitions with plans to launch direct flights to 10 international destinations, including key European cities such as London, Athens, Amsterdam, and Manchester, in the current financial year. This strategic move marks a significant milestone in the airline’s growth, including its much-anticipated entry into long-haul services.CEO Pieter Elbers, speaking at a press briefing in the national capital on Friday, emphasized the growing potential of Indian aviation. “There is an enormous opportunity in Indian aviation where rising demand is supported by infrastructure expansion,” he said, as quoted PTI.In July, IndiGo will commence direct flights from Mumbai to Manchester and Amsterdam using leased Boeing 787-9 aircraft, with the Manchester service marking the airline’s foray into long-haul operations.Other international routes include Copenhagen (Denmark), Siem Reap (Cambodia), and four additional cities in Central Asia, expanding IndiGo’s global footprint as it seeks to transform India into a key aviation hub.Elbers pointed out that while Indian carriers currently handle 45 per cent of the country’s international air traffic, the remaining 55 per cent is still served by foreign airlines—highlighting a major opportunity for growth. “There is also an enormous opportunity to build India as a great place for connecting flights,” he added.Now a USD 10 billion-revenue company, IndiGo operates more than 2,300 flights daily with a fleet of over 430 aircraft, connecting over 90 domestic and 40 international destinations.Notably, the airline also leads in gender diversity among Indian carriers, with women making up around 15 per cent of its pilot workforce.IndiGo will further raise its global profile by hosting the 81st Annual General Meeting (AGM) of the International Air Transport Association (IATA) in New Delhi this June. It will be the first time India hosts the prestigious event in 42 years.

Shares of Suzlon Energy surged as much as 13.6% to Rs 74.30 on the BSE on Friday after brokerage firm Motilal Oswal raised its target price to Rs 83 and reaffirmed its “buy” rating, citing the company’s strong fourth-quarter earnings and an upbeat outlook for FY26.As of 12:45 pm, Suzlon Energy is trading at Rs 71.04, up 8.59% for the day.The revised target implies a potential 27% upside from Suzlon’s last closing price and a further 11.7% gain from Friday’s intraday high. The rally came after Suzlon reported March-quarter results that significantly exceeded analyst expectations, driven by better-than-expected wind turbine generator (WTG) deliveries and margin expansion.“Suzlon Energy delivered a strong set of results, with deliveries and EBITDA coming in ~15% and 38% ahead of our expectations, respectively,” Motilal Oswal said in a note, according to an ET report. “Management maintained its positive outlook and guided for at least a 60% year-on-year improvement in deliveries, revenue, EBITDA, and adjusted PAT for FY26.”In Q4FY25, Suzlon reported a 365% year-on-year jump in consolidated net profit to Rs 1,182 crore, up from Rs 254 crore a year earlier. Revenue from operations rose 73% to Rs 3,773 crore. On a sequential basis, net profit grew 205%, while revenue increased by 27%.EBITDA for the quarter stood at Rs 690 crore, marking a 94% increase year-on-year, with EBITDA margin expanding to 18.4%. The earnings also included a deferred tax gain of approximately Rs 600 crore.The WTG segment performed strongly, with revenue more than doubling to Rs 3,142 crore and EBIT rising over fivefold to Rs 420 crore. Suzlon delivered 573 MW during the quarter, bringing total deliveries in FY25 to 1,550 MW—up 118% from the previous year.For the full year, the company reported a 67% increase in revenue to Rs 10,851 crore and a 214% rise in net profit to Rs 2,072 crore. EBITDA for the year was up 81% at Rs 1,857 crore, supported by a significant improvement in the WTG segment’s contribution margin, which exceeded 23%.Suzlon’s order book stood at 5,555 MW as of May 2025, including 1,500 MW from NTPC. In FY25, the company installed 336 MW and had another 371 MW ready for commissioning.Motilal Oswal pointed to strengthening sector momentum as a key driver, with India’s wind energy installations projected to reach 6 GW in FY26, and 7–9 GW annually over the next two years. It said Suzlon is well-positioned to benefit from this expansion, supported by its execution capabilities.“The early implementation of the local content-related draft notification can be a strong catalyst for the stock,” the brokerage added.Motilal Oswal values the stock at a forward P/E of 35x FY27 estimated earnings—slightly above its historical average—reflecting increased earnings visibility and execution momentum.