Category: Business

Mangalore, Karnataka, May 22: With Indian surfing preparing for its historic debut at the Aichi-Nagoya Asian Games in September, the seventh edition of the New Mangalore Port Authority (NMPA) Indian Open of Surfing 2026, has received a major shot in the arm, with leading corporate brands and Government bodies coming together to support one of India’s biggest surfing championships. Scheduled to be held from May 29 to 31, 2026, here at the Blue Bay Eco Beach in Tannirbhavi, the championship will be organised by the Surfing Swami Foundation and the Mantra Surf Club under the aegis of the Surfing Federation of India (SFI).

The New Mangalore Port Authority (NMPA) has returned as the Title Sponsor for the third consecutive year, reaffirming its continued commitment towards the growth of surfing and coastal sports in the region. The renowned Cycle Agarbatti and skincare brand deconstruct have joined the championship as Gold Sponsors, with deconstruct also coming on board as the Official SPF Partner for the event, while the Karnataka Tourism Department, Department of Youth Empowerment and Sports, and the Karnataka Surfing Association continue their support towards the development of surfing in the state and the country. Northern Sky has also come on board as the Venue Partner for the event.

The NMPA Indian Open of Surfing remains one of the most important stops on the national surfing calendar and is expected to play a crucial role in India’s preparations for the Asian Games later this year. The championship will serve as a key competitive platform for surfers aiming to strengthen their claims for places in the Indian contingent for the Aichi-Nagoya Asian Games 2026.

Indian surfing has witnessed unprecedented growth in recent years, with Indian surfers securing the country’s first-ever qualification quotas for the Asian Games and delivering strong performances at the Asian Surfing Championships on the international stage. With surfing rapidly emerging as one of India’s fastest-growing coastal sports, events like the NMPA Indian Open of Surfing, are playing a key role in building the country’s competitive ecosystem.

Speaking on behalf of the Karnataka Government, Mr. Darshan H.V., IAS, Deputy Commissioner and District Magistrate, Dakshina Kannada, said, “Karnataka has steadily emerged as one of India’s leading destinations for surfing and beach tourism. The continued success of the Indian Open of Surfing highlights the state’s growing stature as a hub for coastal sports, tourism and youth engagement. We are happy to support an event that celebrates both sport and the natural beauty of our coastline.”

Reaffirming his support to the championship, Shri. Sushil Kumar Singh, IRSME, Chairperson, New Mangalore Port Authority, said, “The NMPA Indian Open of Surfing has grown into a nationally recognised sporting property over the years and we are proud to continue our support as the title sponsor. As a coastal institution deeply connected with the region, we believe the championship not only promotes sports but also showcases the immense tourism and cultural potential of coastal Karnataka.”

Mr. Arjun Ranga, Managing Partner, NR Group & MD, Cycle Pure Agarbatti, also expressed happiness at the association saying, “We are delighted to associate with a progressive sporting property like the NMPA Indian Open of Surfing. Surfing reflects youthfulness, energy and aspiration, values that resonate strongly with our brand and its growing connection with younger audiences across the country.”

Ms. Malini Adapureddy, Founder and CEO, deconstruct, weighed in on the immense potential of the sport and said, “Indian surfing is entering a very exciting phase with growing international recognition and participation. Supporting the NMPA Indian Open of Surfing aligns with our vision of encouraging emerging sporting cultures and backing athletes who are pushing boundaries for the country.”

Mr. Rammohan Paranjape, Vice President, Surfing Federation of India, highlighted the importance of sponsor support for the sport’s growth when he shared, “The support extended by our sponsors and government stakeholders has played a major role in strengthening the surfing ecosystem in India. With the Asian Games approaching, events like the NMPA Indian Open of Surfing become extremely important in preparing our athletes for the international stage while also helping the sport reach newer audiences.”

Over the years, the NMPA Indian Open of Surfing has established itself as one of India’s premier surfing championships, attracting top surfers from across the country while also significantly contributing towards the growth of surfing tourism in Karnataka. The championship has also played an instrumental role in positioning Mangalore and Karnataka among India’s leading surfing destinations.

The 2026 edition is expected to witness participation from some of the country’s top surfers competing across multiple categories in what promises to be another landmark edition of India’s flagship surfing championship.

Abu Dhabi, UAE – 22 May 2026: AD Ports Group (ADX: ADPORTS), a leading global enabler of trade, logistics and industry, announced the establishment of a consolidated, multimodal inland logistics network of rail-linked dry ports and cargo depots, including KEZAD Group’s Industry City of Abu Dhabi (ICAD). This network will position Khalifa Port and Fujairah Terminals as dual gateways for the UAE industry, while strengthening the movement of industrial cargo across the UAE and the wider region.

In support of this effort, the Group signed Memoranda of Understanding (MoUs) with four leading UAE manufacturers, Emirates Global Aluminium (EGA), EMSTEEL Group, Al Ghurair Iron & Steel, and Tenaris, positioning them as anchor industrial cargo clients of AD Ports Group’s rail-linked inland logistics network.

The network aims to facilitate the efficient movement of industrial inputs, finished goods and strategic cargo across the UAE. It will connect Khalifa Port and Fujairah Terminals to rail-linked inland dry ports, ICAD, and cargo depots across the UAE, creating a more integrated logistics backbone that supports seamless flows between production sites, inland markets and regional trade corridors.

Designed to enhance supply chain performance, the network will enable more reliable inbound flows of industrial feedstock and raw materials to UAE manufacturers, whilst offering greater flexibility for outbound distribution of finished and semi-finished goods, through multiple inland and gateway options, strengthening corridor resilience, reducing reliance on single gateways, and improving access to the UAE and regional markets. 

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: “Through establishing a consolidated, multimodal inland logistics network, anchored by the UAE’s leading industrial champions, we aim to further strengthen the UAE’s industrial logistics backbone. This network will connect Khalifa Port and Fujairah Terminals to a rail-linked network of inland dry ports and cargo depots, enhancing commercial use of the UAE’s national rail infrastructure. It will also provide improved access to industrial inputs, greater export flexibility, and long-term competitiveness for national supply chains, in line with the vision of our wise leadership.”

By strengthening inland cargo connectivity between ports, industrial zones and end markets, the consolidated network will support the UAE’s industrial growth agenda, improving trade corridor optionality for strategic cargo across the UAE and the wider region. Its benefits will extend to manufacturers and industries across KEZAD and other UAE industrial sectors, enabling more efficient access to raw materials and streamlined export of finished goods through Khalifa Port and Fujairah Terminals as key gateways.

Mumbai, May 22: ideaForge Technology Limited, India’s leading UAV technology company, today announced DGCA Type Certification for the Q6 V2 GEO, a multi-purpose enterprise and geospatial UAV designed for advanced surveillance, mapping, inspection, and multi-sensor aerial data acquisition, under the Drone Rules, 2021, in the Small category (2 to 25 kg).

The Q6 V2 GEO addresses the growing demand for reliable aerial surveillance, mapping, surveying, and geospatial data acquisition across enterprise and government operations, spanning infrastructure, mining, utilities, urban planning, forestry, agriculture, environmental monitoring, and disaster response.

Launched at PRAGYA 2025 as part of ideaForge’s geospatial technology initiatives, the platform supports five payload configurations: LiDAR, LiDAR with RGB imaging, high-resolution photogrammetry, 3D oblique imaging, and dual (day & night) payload operations. The platform is suited for applications such as perimeter surveillance and patrolling, terrain modelling, corridor mapping, volumetric analysis, infrastructure inspection, environmental assessment, glacier and avalanche mapping, river basin conservation, rural land digitisation, and high-resolution heritage and terrain documentation across challenging environments.

The Q6 V2 GEO is part of ideaForge’s complete enterprise and geospatial stack, operating with the BlueFire Touch ground control system for terrain-adaptive mission planning and multi-UAV coordination, and FLYGHT CLOUD for video data analysis, mission data management, and processing orthomosaics, point clouds, NDVI layers, and 3D terrain models in the cloud. Together, the platform and the stack deliver an end-to-end workflow from flight to certified data output.

Commenting on the milestone, Mr Ankit Mehta, Co-founder & CEO, ideaForge Technology Limited, said: “We are pleased that Q6 V2 GEO has received DGCA Type Certification. The platform has been developed to address the growing need for reliable aerial intelligence, surveillance, mapping, and geospatial data acquisition across enterprise and government applications supporting safety, security, and governance operations. With support for advanced payloads including LiDAR, Q6 V2 GEO is designed to operate in demanding environments while enabling high-quality data capture for a wide range of surveying, mapping, and inspection workflows.”

With up to 45+ minutes of flight time, the Q6 V2 GEO is designed to support demanding survey and mapping operations across varied terrain and operational environments. This certification further expands ideaForge’s portfolio of DGCA-certified UAV platforms deployed across defence, homeland security, civil, and enterprise applications.

Chandigarh, May22 : JSWCementLimited  today reportedits consolidated financial results for the fourth quarter and year ended March 31, 2026.

KeyFinancialHighlightsforQ4FY26:

·TotalVolumeSoldincreasedto3.99MillionTonnesinQ4FY26from3.73Million Tonnes in Q4 FY25, marking a growth of 7% YoY

·Revenue:₹1,895CroreinQ4FY26,11%YoYincreasecomparedto₹1,709CroreinQ4 FY25

·Operating EBITDA: ₹365.0 Crore, increased by 46% YoY, with an operating EBITDAmargin of 19.3%

·ProfitafterTax/Adjusted ProfitafterTax1:₹361.7 Crore

·Netdebt:₹3,635CroreasatMarch31,2026

KeyFinancialHighlightsfor FY2026:

·TotalVolumeSoldof13.96MillionTonnes,up11%YoY

·Revenue:increasedby12%YoYto ₹6,512Crore

·Operating EBITDA: ₹1,240.3 Crore, representing a substantial increase of 44% YoY, with an operating EBITDA margin of 19.0%

·AdjustedProfitafterTax1:₹667.6Crore

·Dividend: Based on the Adjusted Profit after Tax1 of ₹667.6 Crore for the year, the Board has recommended a dividend of ₹0.5 per equity share of face value ₹10 each, subject to approval by the shareholders at the Annual General Meeting

FY2026–KeyBusinessUpdates:

·July2025:TheCompanylaunchedsuper-premiumcementintheSouthernand Eastern regions

·August2025:TheCompanysuccessfullycompleteditsIPOontheNSEandtheBSE

·October2025:ShivaCement,thelistedsubsidiaryoftheCompany,commissioneda

1.0MTPAgrindingunitlocatedatSambalpur,Odisha,therebystrengtheningits market presence in eastern India

·March2026:TheCompanycommencedproductionatthestate-of-the-art,greenfield, integratedcementplantlocatedinthedistrictofNagaurinRajasthan–itsfirstfacility inNorthIndia.Thisplantisequippedwitha3.3MTPAclinkerisationunitandaninitial cement grinding capacity of 2.5 MTPA

·March 2026: The Company was declared as the ‘Preferred Bidder’ for the Mining leases oftheSikilangso limestoneblocks (PartA&Part B)located inUmrangso,Dima Hasao District, Assam

ConsolidatedOperational&FinancialPerformanceforQ4FY26:

During the quarter, Total Volume Sold increased by 7% YoY to 3.99 Million Tonnes. Of this, cementvolumesoldwas2.35MillionTonnesrepresentinganincreaseof12%YoY,versus

2.10 Million Tonnes in Q4 FY25. The volume sold of Ground Granulated Blast Furnace Slag (“GGBS”) was 1.57 Million Tonnes representing an increase of 5% YoY, versus 1.49 Million Tonnes in Q4 FY25.

Revenue from operations increased 11% YoY to ₹1,895 Crore, while operating EBITDA improved by 46% YoY to ₹365.0 Crore resulting in operating EBITDA per ton of ₹916 per ton in Q4 FY26. Operating EBITDA (adjusted for forex losses)2 for Q4 FY26 was ₹378.4 Crore, equating to ₹950 per ton.

Operating EBITDA margin was 19.3% in Q4 FY26, as against 14.6% in Q4 FY25. Total EBITDA (including other income) was ₹385.6 Crore in Q4 FY26.

ConsolidatedOperational&FinancialPerformanceforFY2026:

During FY2026, Total volume sold increased by 11% YoY to 13.96 Million Tonnes. Of this, Cement volume sold was 7.73 Million Tonnes, representingan increase of 9% YoY, while the volume sold of GGBS was 5.78 Million Tonnes, representing a robust increase of 12% YoY.

Revenue from operations increased 12% YoY to ₹6,512 Crore, while operating EBITDA improvedby44%YoYto₹1,240.3Crore.OperatingEBITDApertonforFY26stoodat₹888per tonne. Total EBITDA (including other income) was ₹1,392.7 Crore in FY26.

Pursuant to the amendments introduced under the Finance Act, 2026, inter alia enabling prescribed treatment of brought-forward MAT credit to the companies under tax regime as per Section 115BAA of the Income-tax Act, 1961 (“New tax regime”), the Company basis its assessment has decided to exercise the option to adopt the New tax regime from financial year 2026–27 onwards. In view of the same, the resultant reduction in net deferred tax liabilities, consequent to the reduced tax rate in the New tax regime, of ₹ 211.21 crore has been recognised in Q4 FY26 and FY2026.

GrowthStrategy&Capex Update:

The Company continues to make progress on its expansion program to develop a pan India presence and reach 46.00 MTPA of grinding capacity along with 13.04 MTPA of clinker capacity.

The first phase of the Nagaur integrated unit in Rajasthan, comprising 3.3 MTPA clinker capacity and 2.5 MTPA grinding capacity was commissioned in Q4 FY26. Work on the WHRS and additional 1.0 MTPA grinding capacity at Nagaur are also nearing completion.

With a view to enhancing utilisation of the Nagaur clinker line, as well as with the strategic aim to make the Nagaur unit self-sufficient in terms of cement grinding capacity, the Board has approved the establishment of an additional 2.5 MTPA cement grinding capacity. Post expansion,totalgrindingcapacityattheNagaurunitwillincreaseto6.0MTPA.Theestimated investment for this project is ₹430 Crore.

DuringQ4FY26andFY2026,thecompanyincurredcapex(includingmaintenancecapex)of

₹506Croreand₹1,962Crore respectively.

SustainabilityUpdatesand Recognitions:

·The Company continues to have lowest carbon dioxide emission intensity in the industry of 268 kg CO2 per ton of cementitious materials in FY2026

·ShivaCementreceivedtheDistinctionAwardforExcellenceinSafetyPerformanceand Safety Practices from the British Safety Council

·JSW Cement’s Vijayanagar Unit was awarded the prestigious “Legend (Emerging)” award at the 20th Exceed Occupational Health, Safety & Security Awards

·JSW Cement was awarded Golden Peacock Award for Innovation Management, in recognitionforexcellenceinfosteringacultureofinnovationandsustainablebusiness transformation

fäm Properties deal sets new benchmark in one of Dubai’s most exclusive communities

 

Dubai, UAE, May 22: A luxury villa in Al Barari has been leased for a record AED 14 million over two years, marking the highest rental transaction ever recorded in one of Dubai’s most exclusive residential communities.

The landmark deal was secured by fäm Properties for a 14,500 sq ft five-bedroom residence within The Collection at Al Barari. Originally purchased for AED 54 million, the villa is generating a yearly rental yield of 12.8%.

At AED 7 million annually, the agreement surpasses the previous Al Barari rental record of AED 4.8 million per year by 46%, as confirmed by DXBinteract data.

“This transaction reflects the continued depth of demand within Dubai’s ultra-prime segment, particularly for highly curated, lifestyle-driven residences where quality and exclusivity outweigh conventional market parameters,” said Firas Al Msaddi, CEO of fäm Properties.

“It underlines the strength and resilience of the market, and Dubai’s position as one of the world’s leading destinations for wealthy individuals who want this to be their home.”

The villa sits on a 16,000 sq ft plot and features a design centred on privacy, wellness and resort-style living. It includes open-plan formal and informal living areas, a private study with direct lift access, a landscaped garden with pond feature, a fully equipped gym overlooking the pool, and a dedicated wellness pavilion.

The tenant, a Brazilian ultra-high-net-worth individual, was seeking a highly specific lifestyle environment. The deal was brought together by Ana Carolina Oliveira, a Brazilian-born fäm Properties property advisor with nearly a decade of experience in Dubai real estate.

Her long-standing relationships within this segment, combined with cultural familiarity and market access, played a central role in identifying and securing the property.

At the time of search, available rental inventory in Al Barari, including properties above AED 3 million annually, did not meet the tenant’s requirements in terms of architecture, privacy and wellness-led design.

This resulted in a shift away from conventional rental listings towards trophy villas originally positioned for sale in the AED 100 million range, where the required specification was more readily available.

Over a two-month period, off-market discussions were conducted with multiple owners to explore long-term leasing structures for homes not originally intended for rental use.

 

BANGALORE, May 22, 2026 — Avaali, a leading technology solutions company specializing in cost optimization and margin improvement for upper mid and large-sized enterprises, hosted an exclusive roundtable in Bangalore to deliberate on the urgent theme: “India’s AI Moment: The Enterprise Prioritisation Challenge Behind Scalable Impact.” Led by Ms Srividya Kannan, Founder and CEO of Avaali, the session brought together distinguished industry leaders, including Mr Sanjeev Kumar Gupta, CEO of the Karnataka Digital Economy Mission (KDEM), and Ms Ohmna Sinha, Global Head of Data & Analytics Governance at Nielsen.

The roundtable took place at a definitive inflection point. Backed by the government’s landmark ₹10,300-crore IndiaAI Mission and the broader economic roadmap of Viksit Bharat @ 2047, AI is projected to potentially add $1.7 trillion to India’s economy by 2035. However, recent data from the Nasscom AI Adoption Index reveals that 87% of Indian enterprises are actively deploying AI solutions. But a critical gap remains between widespread adoption and deep operational readiness.

In her opening address, Ms Srividya Kannan, Founder and CEO of Avaali, underscored that the national AI conversation has rapidly shifted from ambition to execution, leaving enterprises with an operational “absorption gap”:

“India AI story will be written within enterprises. AI adoption is no longer the difficult conversation in most boardrooms; the harder question is readiness. Do enterprises know which processes are worth transforming first, do they have the data and governance to support AI, and can they convert experimentation into measurable outcomes?

The next digital divide will not be between companies that use AI and those that do not. It will be between enterprises that can absorb AI into the way they work, decide, and govern, and those that remain AI-curious but operationally unprepared. AI pilots create excitement. AI readiness creates economic value.”

The panel highlighted a stark execution paradox, and to translate this into enterprise productivity, the leaders outlined a strategic framework focused on thorough data readiness, building hybrid talent that pairs domain expertise with AI skills, and elevating AI from isolated IT tasks to absolute boardroom accountability.

Addressing regional execution, Mr Sanjeev Kumar Gupta, CEO of KDEM, highlighted that Karnataka commands over 40% of India’s overall tech capabilities, housing the largest concentration of Global Capability Centres (GCCs) and nearly 39% of the country’s AI startups. Driven by Bengaluru’s tech ecosystem, which accounts for an 30% share of all AI job postings nationwide – demand being 300,000 per year currently, the state serves as the primary engine behind India’s march toward a $1 trillion digital economy.

Mr Gupta emphasized that while India has built an exceptional supply side, including the injection of 38,000 GPUs, robust public data sources, and the IndiaAI Datasets Platform (AI Kosh), the true test lies in enterprise commitment. He noted that While 88% of organizations globally use AI in at least one business function, but only 7% have successfully adopted it for real business outcomes.

“To bridge the gap and achieve real business value, enterprises must overcome three core operational barriers: real data availability, hybrid skills that blend domain expertise with AI, and bridging the boardroom understanding gap so directors can actively steer investments.

Large enterprises must move away from isolated pilots and start publishing concrete case studies on how AI has optimized internal processes. Every technology shift presents friction, but by focusing on execution, we transform challenges into sustained economic leadership.”

The panel also addressed how India is proactively tackling the environmental and sustainability challenges of massive AI computation. Mr Gupta highlighted strategic shifts toward renewable energy sourcing, stating, “There is a huge policy push that we have. We are working to come out with a sustainable data center policy. For the first time, we will introduce a very thoughtful process on how we can make data centres structurally sustainable. As more states and country-level discussions come forward, we will look ahead to embedding more of these sustainability parameters into our foundational frameworks.” He also pointed to breakthrough domestic eco-innovations alongside these policy steps, such as room-temperature servers from Vigyan Labs and advanced hypercooling infrastructure. Karnataka is leading as a role model on these initiatives. While we talk about the growth factors our Beyond Bengaluru emerging tech clusters – Mysuru, Hubballil-Dharwad-Belagavi, Mangaluru, Kalaburgi, Shivamoga & Tumakuru, are also scaling fast and are becoming the new powerhouse of Viksit Bharat for the globe.

Addressing the foundational requirement of trust, Ms Ohmna Sinha, Global Head of Data & Analytics Governance at Nielsen, warned against a corporate mindset of speed over substance, citing that around 85% of AI pilots ultimately fail to make it to production (Source: Gartner)

“Enterprises are no longer asking whether AI matters; they are asking how to operationalize it meaningfully. However, leaders must critically ask: Do we really need AI for every single process? The ultimate metric should not merely be speed; it must be AI Quality First and AI Faster.

As organizations mature, success will depend on clean data, clear governance, compliance readiness, and practical use cases that solve real problems rather than chasing hype. India’s evolving digital regulatory landscape is making this journey even more critical, encouraging organizations to build with accountability and transparency from the outset.”

Key Recommendations from the Roundtable:

·       Move AI to the Boardroom: AI must become a board-level strategic priority with defined productivity, operational, and customer impact goals tied to investments.

·       Build a prioritization discipline: Enterprises should build an objective prioritization discipline around AI. Rather than asking “where do we use AI’ they should ask Where should we apply AI first to create measurable business impact?

·       Adopt a ‘Data Quality First’ Mindset: Scalable adoption begins with clean, governed, and compliant data foundations equipped with responsible AI guardrails.

·       Strengthen Domain-Led AI Skilling: Future success depends on combining technical AI capabilities with deep, industry and functional specific expertise (Manufacturing, BFSI, Retail, Energy, Finance, Procurement, Supply Chain etc.).

·       Enable MSME Inclusion: Large enterprises must bring their supplier and partner ecosystems into the digital transformation journey to ensure inclusive growth.

·       Promote Sustainable Infrastructure: Commercialize green data center initiatives and domestic hardware innovations to scale computing sustainably.

Concluding the session, the panel emphasized that India’s AI moment is real. The ambition is real. The opportunity is real. But the next milestone will not be defined by how many AI pilots we launch. It will be defined by how effectively enterprises convert AI into productivity, resilience, governance, and measurable business outcomes and all this starts with the right prioritization.

Chandigarh, May 22 : Capital India Finance Limited  an India-focused MSME lender  reported a standalone Profit After Tax  of ₹ 40.36 crore and total income of ₹ 229.67 crore for the financial year ended March 31, 2026.

Key Performance Highlights – Standalone:

·Assets Under Management (AUM) stood at ₹ 1227.37 crore as of March 31, 2026, registered growth of 22% YoY.

·Disbursements during FY26 stood at ₹ 753.54 crore, reflecting a growth of 62% YoY, driven by improving customer acquisition, deeper market penetration and expansion across MSME lending segments.

·Total Revenue for FY26 reported at ₹ 229.67 crore, registered growth of 11% YoY, Interest Income for FY26 reported at ₹ 186.09 crore, registered growth of 15% YoY.

·PAT for FY26 reported at ₹ 40.36 crore, registered growth of 243% YoY.

·Capital Adequacy Ratio (CAR) remained strong at 40.99% as on March 31, 2026, significantly above the regulatory requirement, providing a strong capital buffer, financial flexibility and adequate capacity to support the Company’s future loan book growth.

·Net NPA stood at 1.32%, reflecting prudent credit selection, disciplined collection mechanisms and a conservative risk management framework.

·Expanded branch and distribution network to 46 branches in FY26 from 29 branches in FY25, enhancing the Company’s execution and customer outreach capabilities.

·Continues to benefit from a well-established borrowing franchise, supported by strong participation from both existing and new lenders, with total Debt raised of ₹ 600 crore in FY26 including NCD issuance.

·Expanded leadership, employee base and distribution footprint to support future growth.

Strategic Developments During FY26

·Accomplished strategic divestment of entire stake in Capital India Home Loans Limited (CIHL), erstwhile housing finance subsidiary of CIFL, for a consideration of ₹ 267 crore in Aug 25, as part of CIFL’s strategic realignment towards strengthening its core lending franchise and enhancing capital allocation efficiency.

·Listed on the National Stock Exchange of India, enhancing market visibility, investor reach and trading liquidity.

Commenting on the financial results, Mr. Surender Rana, Executive Vice Chairman, CIFL, said:

“FY26 was a year of strategic recalibration for CIFL as we sharpened our focus on secured MSME and retail lending. Alongside balance sheet strengthening through the divestment of CIHL, the Company expanded its distribution network and reinforced its leadership team and employee base to support continued growth.”

Mr. Pinank Shah, Chief Executive Officer, CIFL, commented:

“The expansion of our network to 46 locations, combined with our continued focus on secured and granular lending, is helping us build a scalable and disciplined lending franchise. We are seeing improving traction across our core business segments. As we continue to scale our lending business, we believe the combination of prudent risk management, technology-led execution and a stronger liability profile positions us well for the next phase of sustainable growth.”

Overview of Rapipay Fintech Pvt. Ltd  Rapipay

·Total Revenue for FY26 reported at ₹ 338.70 crore.

·Achieved EBITDA positivity in FY26, reporting an EBITDA of ₹ 6.89 crore, marking a significant turnaround and demonstrating strong improvement in its financial performance.

·Loss After Tax for FY26 reported at ₹ 14.60 crore, demonstrating reduction in losses over FY25.

Key Performance Highlights – Consolidated:

·Total Revenue for FY26 reported at ₹ 532.84 crore.

·Profit after Tax for FY26 reported at ₹ 30.89 crore as against Loss after tax at ₹ 10.22 crore for FY25.

Chandigarh, May 22: The Board of Directors of Aditya Birla Capital Limited (“ABCL”) approved preferential issuance of Rs. 2,880 crores to Grasim Industries Limited (Promoter), Rs. 200 crores to Suryaja Investment Pte Limited, Singapore (an Aditya Birla Group entity) and Rs. 920 crores to International Finance Corporation (IFC), aimed at strengthening the capital base and meeting the requirement for its next phase of growth. The preferential issuance will be undertaken at the price of Rs. 356.02 per equity share, as per SEBI ICDR Regulations, subject to shareholder and other requisite approvals and customary conditions.

The proceeds from the preferential issuance will be utilised for meeting the growth objectives including augmentation of the capital base, funding requirements for lending business and other general corporate purposes such as for investment in subsidiaries/ joint ventures/associates of the Company.

Commenting on the investment, Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group said, “Financial services have become central to India’s economic transformation, driving capital formation, expanding financial inclusion and supporting the formalisation of the economy at scale. As the sector evolves, institutions with diversified platforms, strong governance and technology-led execution are increasingly shaping the trajectory of growth. Over the last few years, ABCL has built scale across the financial-services landscape, creating a portfolio of high-quality businesses supported by robust digital capabilities and disciplined execution. Its breadth across segments, combined with a long-term approach to building institutional capability, positions the group well as India’s financial sector enters its next phase of expansion and sophistication.”

Ms. Vishakha Mulye, MD & CEO, Aditya Birla Capital Limited said, “We are deeply grateful for the continued trust of our Promoters and the confidence IFC has placed in us. With all the building blocks in place, this capital infusion will enable us to participate in the growth opportunities in India, deepen customer engagement, and deliver digital-first solutions. About 57% of our loan portfolio comprises business loans to SMEs, reflecting our strong commitment to this segment. We are focused on shaping an inclusive financial ecosystem built on responsible business practices. We empower individuals and businesses with seamless credit access, digital capabilities, and deep ecosystem solutions to drive sustainable, long-term growth.” 

Mr. Sarvesh Suri, Regional Vice President, Asia and the Pacific, IFC said, “Small businesses are built on big ideas, and through this partnership with Aditya Birla Capital, we are helping bring those ideas to life. Creating jobs and expanding economic opportunities are at the heart of the World Bank Group’s mission, with MSMEs representing one of the largest untapped financing opportunities in emerging markets. By leveraging ABCL’s scale, over 150,000-strong MSME client base, and digital capabilities, we aim to expand access to responsible financing for entrepreneurs and businesses in job-rich sectors—enabling them to invest, grow incomes, create more and better jobs, and strengthen local economies. This investment reflects our commitment to advancing financial inclusion and aligns with the Viksit Bharat vision, empowering individuals and enterprises shaping India’s growth story.”

Aditya Birla Capital is a diversified financial services company offering comprehensive solutions across lending, investments, insurance, and payments to serve customers’ evolving financial needs across their life stages. It has transformed itself to emerge as a core growth engine for the Aditya Birla Group, driven by strong expansion in scale, diversification, and disciplined execution. Between FY23 and FY26, the Company delivered consistent, broad-based growth across businesses while maintaining robust portfolio quality.

The total lending portfolio across NBFC and Housing Finance grew at a 30% CAGR to more than Rs 2 lakh crore, combined AUM of asset management and insurance businesses grew at a CAGR of 18% to ~ Rs 5.9 lakh crore. Total gross premiums across insurance businesses grew at a 21% CAGR to Rs 31,634 crore. Over the last three years, its consolidated PAT (excl. exceptional, one-off items) increased at a 23% CAGR to Rs 3,797 crore in FY26.

Abu Dhabi, UAE – 21 May 2026: AD Ports Group (ADX: ADPORTS), a leading global enabler of trade, industry, and logistics solutions, and e& UAE today announced the successful deployment of an AI-ready high-capacity terrestrial connection, linking major maritime and logistics assets across the Group’s portfolio.

The new high-capacity network extends AD Ports Group’s terrestrial digital backbone to more than 1,000 kilometers, seamlessly connecting the Group’s strategically located assets in Abu Dhabi. This enables the continuous streaming of high-volume sensor data, video feeds, and IoT signals, creating a fully integrated environment ready for machine learning and automated decision-making.

Designed for ultra-low latency, this high-bandwidth terrestrial connectivity establishes a robust foundation for AI models to process data and deliver real-time inference within milliseconds.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO – AD Ports Group, said: “The future of global trade is intelligent and predictive. Under the guidance of our wise leadership in the UAE, we are embracing and leading this change by collaborating with globally leading technology companies to help us ensure that digital intelligence remains at the heart of our operations, driving global trade and supply chain resilience.”

Masood M. Sharif Mahmood, Group CEO, e& and CEO, e& UAE, said: “Advanced connectivity is now essential to the way major industrial and logistics hubs operate, scale and compete. Through this collaboration with AD Ports Group, e& UAE has delivered a future-ready digital backbone that powers speed, security and scalability, while creating the foundation for more advanced automation, analytics and AI-led operations.

“With e&’s leadership in fibre connectivity, we are not just connecting infrastructure; we are shaping the future of trade, logistics, and innovation for the entire nation.”

This strategic initiative marks another significant milestone in AD Ports Group’s digital transformation journey, further strengthening the Group’s digital resilience across its expanding global portfolio. In 2025, AD Ports Group announced the phased rollout of Low Earth Orbit (LEO) satellite connectivity across its global operations, aimed at enabling real-time data exchange with vessels and delivering always-on connectivity for ports and terminals, driving new efficiencies and fuel savings.

By integrating its terrestrial digital backbone with LEO satellite services and existing radio networks, the Group has established a resilient, multi-layered connectivity architecture that ensures sovereign, uninterrupted data flow under all conditions.