Category: Business

Mar 20:  ZF Friedrichshafen AG reported improved operating performance for fiscal year 2025, exceeding its guidance for profitability and cash flow despite a challenging global economic environment.

The company’s adjusted EBIT margin increased to 4.5%, up from 3.5% in 2024, while adjusted EBIT rose to €1.7 billion. Adjusted free cash flow surged significantly, reaching €1.4 billion compared to €305 million in the previous year.

Although Group sales stood at €38.8 billion, reflecting a nominal decline year-on-year, ZF achieved organic growth of 0.6%, demonstrating resilience amid subdued market demand and macroeconomic volatility.

Focus on Profitability and Efficiency

CEO Mathias Miedreich stated:
“Operationally, we surpassed our 2025 targets. Our efficiency program is gaining traction, and performance and profitability remain our top priorities. We are focused on rebuilding profitability while maintaining strong business momentum.”

The company continues to prioritize financial discipline, targeted investments, and organizational agility to strengthen long-term competitiveness. A key focus remains on reducing financial liabilities and enhancing operational efficiency.

Strengthening Financial Position

ZF reduced its net debt to €10.2 billion, reflecting ongoing deleveraging efforts. CFO Michael Frick emphasized that the company will continue pursuing organic debt reduction alongside selective divestments, reinforcing financial stability and investor confidence.

Strategic Realignment Gains Momentum

As part of its transformation strategy, ZF made significant structural changes:

• Divestment of its Advanced Driver Assistance Systems (ADAS) business to Harman International, strengthening focus on core segments

• Establishment of its wind power business as a standalone unit

• Continued restructuring of the Electrified Powertrain Technology Division

Additionally, ZF discontinued several non-profitable electric mobility projects, resulting in a one-time accounting charge but enabling greater strategic flexibility moving forward.

Despite reporting a net loss due to these one-time effects, the company highlighted strong customer confidence, supported by major contracts such as continued collaboration with BMW Group for advanced transmission technologies.

Workforce and Operational Adjustments

ZF’s global workforce stood at approximately 153,000 employees at the end of 2025, reflecting a planned reduction aligned with its restructuring roadmap. The company continues to implement workforce optimization measures through voluntary programs and operational efficiencies.

Investment and Innovation

The company maintained strong focus on innovation, with research and development spending totaling €3.3 billion, positioning ZF among Europe’s leading corporate R&D investors. Capital expenditure was optimized in line with market conditions and strategic priorities.

Outlook for 2026

ZF expects continued market uncertainty in 2026, particularly in the commercial vehicle segment, with no significant increase in demand anticipated. The company forecasts stable sales levels and aims for:

• Adjusted EBIT margin between 4.0% and 5.0%

• Adjusted free cash flow exceeding €1 billion

CEO Mathias Miedreich also highlighted the need for regulatory flexibility in Europe, particularly around hybrid technologies, to support the transition toward sustainable mobility.

Driving Forward with Resilience

With a clear focus on profitability, disciplined financial management, and strategic realignment, ZF remains committed to navigating market challenges while positioning itself for long-term growth and innovation in the global mobility sector.

Mumbai, Mar 20: Cosmo Consumer, the consumer-facing vertical of Cosmo First, has announced its entry in the automotive ceramic coating segment with the launch of Cosmo Guard, a high-performance nano-ceramic coating solution engineered to protect vehicle surfaces. This is a strategic expansion of Cosmo First’s automotive protection product line, building on the strong synergy with its existing Paint Protection Film (PPF) and Window Film businesses. 

Cosmo Guard has been developed by leveraging Cosmo First’s comprehensive expertise in specialty chemicals, substrate science, and coating formulation. In addition to ceramic coating, the Cosmo Guard range includes advanced rubbing and polishing compounds engineered for professional surface correction prior to coating application. These compounds use intelligent sub-micron abrasive technology designed to deliver consistent and predictable cutting performance. Unlike conventional diminishing abrasive systems that rely on larger grit particles breaking down during use, this advanced abrasive system maintains uniform particle size, reducing the risk of micro-marring and enabling a refined finish that is easier to coat. 

The nano-ceramic coating offering is designed in order to deliver long-lasting protection, high gloss, and superior surface performance, catering to the ever-evolving needs of car owners and detailing professionals in a rapidly growing automotive care market. The polishing compound in the range further enhances gloss levels significantly, with the ability to elevate surface gloss from typical factory levels of 75 to 85 GU up to 92 to 98 GU, while also improving Distinction of Image by reducing surface roughness and enabling sharper light reflection. The rubbing compound effectively handles medium to heavy surface defects, including swirl marks and sanding marks, ensuring optimal surface preparation before ceramic coating application. 

Speaking on the launch, Mr. Abhineesh Das, Business Head, Cosmo Consumer, said, “The introduction of Cosmo Guard is a natural extension of our capabilities in specialty chemicals and automotive surface protection. As demand for advanced vehicle care solutions continues to grow, Cosmo Guard enables us to offer customers a high-performance ceramic coating that delivers durability, aesthetics, and long-term value. We are confident this will become a significant contributor to our automotive protection portfolio.” 

The advanced coating uses Silicon Dioxide (SiO₂) as a resin, which enables the formation of strong chemical covalent bonds with the vehicle surface. This offers improved scratch resistance, protection from swirl marks caused during regular washing, as well as long-term protection of the vehicle’s actual paint. The coating also offers excellent hydrophobicity with a water contact angle of up to 100 degrees, resulting in a self-cleaning effect and improved maintenance. 

Additionally, for surface protection, Cosmo Guard safeguards vehicles from petrol and diesel spills during refueling, harmful UV radiation as well as thermal stress. It is formulated to resist high surface temperatures ranging from 70°C to 100°C, which ensures that the coating does not get damaged by high temperature. Laboratory testing conducted across parameters such as scratch hardness, weatherability, hydrophobicity, and resistance to fuel exposure highlights the exceptional product performance.

The rubbing and polishing compound in the Cosmo Guard range is also silicone-free and has no waxes or fillers, making it safe for use in a body shop or a professional paint environment without the risk of contaminating or obscuring defects. 

Cosmo Guard offers a durability of two to five years and is significantly better as compared to traditional waxes and paint sealants. In the future, brand intends to introduce advanced variants, including graphene ceramic coatings and self-healing ceramic coatings, further strengthening its presence in the premium automotive care segment.

Delhi, Mar 20: NEC Group announced a significant expansion of its production infrastructure with the inauguration of a new large-scale manufacturing unit at its Noida facility. The announcement was made at the Bharat Electricity Summit 2026, where NEC Group’s leadership outlined an ambitious plan to invest an additional Rs 200 Crore over the next five years to substantially boost the company’s overall production capacity.

The new unit at Noida marks a pivotal milestone in NEC Group’s growth trajectory, reinforcing its commitment to strengthening domestic manufacturing capabilities. This expansion aligns with the Government of India’s Make in India initiative, championed by Prime Minister Narendra Modi, aimed at positioning India as a global manufacturing powerhouse.

Speaking at the Bharat Electricity Summit 2026, NEC Group’s leadership stated that the capital infusion would be directed toward advanced machinery, technology upgradation, and workforce development, enabling the group to meet rising domestic demand while building competitive export capabilities.

“This is a defining moment for NEC Group. Our Noida expansion and the Rs. 200 Crore commitment reflect our confidence in India’s manufacturing potential and our responsibility to contribute meaningfully to the nation’s industrial growth,” said Mr. Prashant Srivastava, Managing Director, NEC Group.

With this expansion, NEC Group is poised to significantly increase output volumes, reduce production timelines, and deliver greater value to customers and partners across the energy sector.

NEW DELHI, March 20: Jitendra Singh on Thursday said India’s bioeconomy has expanded from about $10 billion in 2014 to over $195 billion in 2025, registering an annual growth of 17–18 per cent and emerging as a major global biotechnology hub.

Addressing the 14th Foundation Day of the Biotechnology Industry Research Assistance Council (BIRAC) in New Delhi, the minister said the country is on track to achieve a $300 billion bioeconomy by 2030.

He highlighted that biotechnology is becoming central to India’s growth, driving innovation in healthcare, agriculture, climate solutions and sustainable manufacturing. He credited BIRAC for playing a key role in bridging research and industry, enabling the translation of scientific ideas into market-ready solutions.

Referring to policy initiatives, Singh said the BioE3 Policy will promote sustainable biomanufacturing and innovation in areas such as precision biotherapeutics, smart proteins, climate-resilient agriculture, bio-based chemicals and carbon capture technologies.

He also pointed to the ₹1 lakh crore Research, Development and Innovation (RDI) Fund as a major step to support biotechnology ventures and strengthen India’s deep-tech ecosystem.

The minister noted that India’s bioeconomy now contributes nearly 5 per cent to GDP, citing findings from the India Bioeconomy Report (IBER) 2026 released at the event. The sector, supported by over 11,800 startups, has more than doubled in size since 2020.

Officials said BIRAC’s initiatives in funding, incubation and mentorship have facilitated industry-academia collaboration, leading to the development of affordable healthcare solutions, sustainable technologies and job creation.

Singh emphasised the need to nurture young scientific talent, particularly from smaller cities, and called for continued collaboration among researchers, industry and policymakers to drive innovation-led growth and support the vision of a self-reliant India.

NEW DELHI, March 20: India has achieved a record milestone in its mineral sector with the successful auction of 200 mineral blocks during the financial year 2025–26, marking the highest number of auctions conducted in a single year.

According to the Ministry of Mines, the achievement reflects strong coordination between the Centre and states, as well as the growing maturity of the country’s auction-based mineral allocation system.

Of the total blocks auctioned, 123 are Mining Lease (ML) blocks and 77 are Composite Licence (CL) blocks, indicating a balanced approach between operational mining and exploration activities. In addition, tenders for 70 more blocks—38 ML and 32 CL—are currently underway.

Among states, Gujarat led with 32 blocks, followed by Rajasthan with 30 and Tamil Nadu with 22 blocks. Tamil Nadu conducted its first-ever mineral block auctions, while Uttarakhand entered the framework with the successful auction of its first magnesite block.

Limestone accounted for the largest share with 76 blocks, followed by iron ore (40 blocks) and bauxite (30 blocks), highlighting their importance for core industries.

The year also saw the auction of 22 critical mineral blocks, underlining a strategic push towards securing key resources. States including Rajasthan, Chhattisgarh, Odisha, Karnataka and Maharashtra played a significant role in offering these blocks.

The Ministry said the milestone underscores India’s commitment to building a transparent, efficient and future-ready mineral allocation framework to support long-term economic growth.

NEW DELHI, March 20: The National Industrial Corridor Development Corporation (NICDC) will anchor the implementation of the ‘BHAVYA’ scheme aimed at developing 100 plug-and-play industrial parks across the country to boost manufacturing and investment.

The initiative, under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, will be executed as part of the National Industrial Corridor Development Programme (NICDP).

Under the scheme, industrial parks will be developed with pre-approved land, ready infrastructure and integrated services to facilitate ease of doing business. The parks will also feature streamlined approval systems, including single-window clearances, enabling faster establishment of industries.

Aligned with the PM GatiShakti National Master Plan, the parks will emphasise multimodal connectivity and efficient last-mile access. Infrastructure planning will include underground utilities and integrated systems to support reliable industrial operations.

Officials said the BHAVYA scheme builds on NICDC’s experience in developing industrial corridors and smart cities, with a focus on expanding industrial infrastructure and promoting balanced regional growth.

NICDC is currently implementing 20 projects across 13 states, including greenfield industrial smart cities designed to enhance manufacturing competitiveness, attract investments and generate employment. It is also serving as the project management agency for seven PM MITRA Parks under the Ministry of Textiles.

Existing industrial nodes developed by NICDC, such as Dholera, Shendra-Bidkin, Vikram Udyogpuri and Greater Noida, have demonstrated progress in integrated infrastructure development and investor-ready ecosystems.

These industrial smart cities incorporate plug-and-play facilities, multimodal logistics connectivity, digital monitoring systems and sustainable infrastructure, including green energy and water reuse mechanisms.

The government said the initiative is expected to further strengthen India’s manufacturing ecosystem, attract investments from MSMEs and large industries, and support long-term economic growth.

NEW DELHI, March 20: Coal continues to play a critical role in ensuring India’s energy security, even as the country expands its renewable energy capacity, with production and stock levels remaining aligned with rising demand.

According to the Ministry of Coal, coal remains essential for providing reliable baseload power and supporting key industries such as steel and cement, which are central to economic growth.

Coal production is being maintained to match consumer demand, with adequate stocks being built up at mine sites. Officials said this has been supported by efficient transportation, particularly through the rail network.

At Coal India Limited, pithead coal stock has increased from 106.78 million tonnes (MT) as on April 1, 2025, to about 125.54 MT as of March 18, 2026. Additional stocks include around 5.75 MT at Singareni Collieries Company Limited mines, 15.75 MT at captive and commercial mines, about 12 MT in transit, and 5.49 MT at ports and sidings.

This is in addition to approximately 53.41 MT of coal available at thermal power plants, sufficient for nearly 23 days at current consumption levels.

To ensure steady supply to all consumer segments, including small and medium industries, Coal India Limited has scheduled 29 e-auctions in March 2026, offering about 23.56 MT of coal. Of these, five auctions conducted since March 12 have seen 31.96 lakh tonnes booked against 73.1 lakh tonnes offered.

The company is also facilitating coal supply through State Nominated Agencies (SNAs) and coordinating with state governments to meet additional requirements and prevent shortages.

Officials said the government remains committed to ensuring reliable coal availability through policy support, monitoring, and stakeholder coordination, with the aim of meeting growing energy needs and supporting the vision of a developed India by 2047.

NEW DELHI, March 20: The Government has increased natural gas supplies to urea plants, leading to a 23 per cent rise in domestic urea production and improving fertilizer availability ahead of the Kharif 2026 season.

Amid recent developments in West Asia, the Department of Fertilizers has implemented a multi-pronged strategy combining higher domestic production and global procurement to safeguard supplies for farmers.

Through bidding conducted by the Empowered Pool Management Committee (EPMC), the government secured an additional 7.31 MMSCMD of natural gas on a spot basis. This has raised total gas supply to urea plants from 32 MMSCMD to 39.31 MMSCMD.

With increased gas availability, domestic urea production is projected to rise from 54,500 metric tonnes per day to 67,000 metric tonnes per day. Gas supply now meets 76 per cent of the plants’ average requirement, compared to 62 per cent earlier.

Fertilizer stock levels have also improved significantly. Urea stocks currently stand at 61.14 lakh metric tonnes, up from 55.22 lakh metric tonnes in the same period last year.

Stocks of Di-Ammonium Phosphate (DAP) have more than doubled to 24.24 lakh metric tonnes, providing a strong buffer for the upcoming sowing season.

Officials said the measures are aimed at insulating Indian agriculture from global supply disruptions while ensuring adequate and timely fertilizer availability for farmers.

JALGAON (MAHARASHTRA), March 20: Shivraj Singh Chouhan on Thursday announced the approval of a ₹200-crore ‘Banana Cluster’ project in Jalgaon, aimed at strengthening agricultural infrastructure and enhancing farmers’ income.

Interacting with banana cultivators in Jalgaon on the occasion of Gudi Padwa, the minister reiterated the Centre’s commitment to the development of the agriculture and horticulture sectors. He described Jalgaon, part of the Khandesh region, as a key hub for banana production in the country.

The proposed cluster will include facilities such as Good Agricultural Practices (GAP), mechanisation, bio-control measures, fruit covering, pre-cooling units, cold storage, ripening chambers, refrigerated transport, processing, and export infrastructure. Financial support for these components will be provided under the Mission for Integrated Development of Horticulture and the Agriculture Infrastructure Fund.

Chouhan expressed concern over the disparity between farm-gate prices and retail prices in urban markets, noting that farmers often receive low returns while consumers pay significantly higher prices. He said both the Centre and state governments are working to develop mechanisms to ensure fair pricing for farmers.

Highlighting challenges in procuring perishable crops like bananas under the Minimum Support Price (MSP) system, the minister said the government is exploring alternative compensation models. These would provide financial support to farmers when market prices fall below cost or a pre-determined benchmark, similar to pilot initiatives undertaken for crops such as chillies and mangoes under the PM-AASHA.

The minister also raised concerns about the excessive use of chemical fertilisers and pesticides, warning that it is adversely affecting soil health and reducing organic carbon levels. He urged farmers to adopt natural farming practices, starting on a small scale, and expressed confidence that such methods can sustain productivity while improving soil quality.

Chouhan said a comprehensive roadmap will be prepared to address farmers’ concerns and suggestions. He added that efforts will be made to enhance the global recognition of Jalgaon’s bananas while ensuring long-term sustainability and prosperity for farmers.