Latest news with #AnmolJain
Indian Express
12-06-2025
- Politics
- Indian Express
The battle today is not for the abstract ideals of Constitution — it is for democracy itself
Written by Anmol Jain 'Samvidhan khatre mein hai' has been the rallying cry of Congress since the beginning of its campaign for the 2024 general elections. After the polls, the party doubled down on this narrative, directing its state units to conduct Samvidhan Bachao rallies across the country. Several such rallies were organised in April and May in many states, including Bihar, Chhattisgarh, Madhya Pradesh, Punjab, Rajasthan, and Uttar Pradesh. On June 8, the Yatra began in Goa. Over the past year, Congress has left no occasion to assert that our Constitution is under threat. But a deeper, more pressing question must be asked, not just by the Opposition, but by every citizen: If the Constitution is in danger, what exactly needs to be rescued, safeguarded, and nourished? The complexity of the question demands that we ascribe an identity to the Constitution. And this identity is connected to another core idea of the Republic: Democracy. From the abuse of constitutional offices like that of the Governor — as the Supreme Court emphasised in the Tamil Nadu Governor case — to the trampling of rights, threats to the foundational essence of democracy are real. Notably, it is often rooted in constitutional structures and silences. For instance, the Constitution does not explicitly ask the Governor or the Speaker to shed all partisan loyalties in their functioning. However, our demand that they rise above party lines stems from the democratic values the Constitution is meant to embody. The Constitution, in this sense, becomes an accessible language through which we reassert and reinforce democratic values in public discourse. However, this language is gradually losing its resonance. When the essence of constitutional arrangements is repeatedly subverted for short-term political gain, non-constitutional justifications begin to suffice. And when courts do intervene, often the independent institutions are blamed, but not the style of governance. So, the political and intellectual struggle today cannot be framed merely as a defence of the Constitution. It must go deeper and become a struggle to resurface, reiterate, and reassert the 'identity' of the Constitution and the democratic values it is meant to uphold. And to do so, we must shift the pivot of the discourse from 'Constitution' to 'Democracy'. There are two long-term dangers to the overreliance on the Constitution as the central narrative. The first is political. If those raising the slogan today come to power, they would find it difficult to pursue the structural changes necessary for democratic repair. Any attempt to redesign constitutional structures and institutions, however justified, would risk the charge of hypocrisy. Having opposed constitutional change while in opposition, they would be accused of undermining it once in office. They might also face the slogan 'Samvidhan khatre mein hai.' The second is intellectual. An overemphasis on the Constitution risks stifling critical engagement with it. After all, constitutional provisions were used to enable the imposition of Emergency, legitimise central executive dominance, and allow repeated rights violations. In light of what the country has experienced over the past 75 years, a critical, reflective engagement with the Constitution is not only desirable, it is essential. But such a critique becomes difficult when the Constitution is treated as a flawless relic that must be defended at all cost. Any discourse rooted in democracy is politically sharper. It is far harder for incumbents to deflect an opposition narrative grounded in loktantra. The government is, no doubt, elected constitutionally and acts largely within formal constitutional bounds. But that is precisely the issue: Constitutional form is being used to mask democratic erosion. The Constitution remains intact, but democracy appears to be backsliding. This distinction is crucial. The battle today is not for the Constitution in the abstract. It is for democracy itself. The writer teaches law Jindal Global Law School. He was the 2023-24 Fox International Fellow at Yale University and Melbourne Law School
Time of India
30-05-2025
- Automotive
- Time of India
Lumax Auto Technologies reports 37% rise in net profit to ₹229 cr in FY25
Lumax Auto Technologies has announced its audited financial results for the fourth quarter and full year ended 31 March 2025. The company reported growth in revenue and profit, with consolidated revenue crossing ₹1,000 crore in a quarter for the first time. For FY25, consolidated revenue from operations increased by 29% to ₹3,637 crore, compared to ₹2,822 crore in FY24. Profit after tax rose by 37% to ₹229 crore, up from ₹167 crore in the previous year. The company's consolidated earnings per share increased to ₹26.08 from ₹19.10. In Q4 FY25, consolidated revenue stood at ₹1,133 crore, showing a 50% year-on-year growth from ₹757 crore in Q4 FY24. On a standalone basis, revenue from original equipment manufacturer (OEM) customers grew by 7% in Q4 FY25 and 13% for the full year. The aftermarket segment recorded its first double-digit annual growth, rising by 10% quarter-on-quarter. Inorganic growth and strategic acquisitions Anmol Jain, MD, Lumax Auto Technologies Limited, said, 'We are pleased to deliver another year of strong financial performance, with our consolidated revenue crossing ₹3,600 crores and achieving robust profit growth of 37%. Our strategic focus on inorganic growth through targeted acquisitions, including our entry into alternative fuels and the consolidation of our IAC India operations, positions us well for the evolving automotive landscape." "The improved EBITDA margins reflect our operational excellence and the synergies we are realising from our expanded portfolio. As we move forward, we remain committed to leveraging both organic and inorganic growth levers to create sustainable value for all stakeholders,' he added. During FY25, Lumax Auto Technologies invested ₹48 crore in optionally convertible redeemable debentures through its wholly-owned subsidiary, Lumax Resources Private Limited. This subsidiary acquired a 60% stake in Greenfuel Energy Solutions Private Limited for ₹153 crore, marking the company's entry into the alternative fuels segment. Following the financial year, the Board approved the acquisition of the remaining 25% stake in IAC International Automotive India Private Limited for ₹221 crore, resulting in full ownership. IAC India recently opened two manufacturing units in Chakan, Pune, to support Mahindra & Mahindra's battery electric vehicle (BEV) models, BE6 and XEV9e. Investments and dividend declaration The Board approved an investment of up to ₹0.51 crore in AMPIN C&I Private Limited's subsidiary to support solar energy use at three plants in Maharashtra. It also approved the formation of two new wholly-owned subsidiaries – Lumax Auto Solutions Private Limited and Lumax Autocomp Private Limited – to explore opportunities in the automotive sector. A final dividend of ₹5.50 per equity share has been recommended for FY25, subject to shareholder approval at the 44th Annual General Meeting on 25 August 2025. With a stable balance sheet, acquisitions, and an expanding product range, Lumax Auto Technologies aims to build on opportunities in the automotive and mobility markets.
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Business Standard
18-05-2025
- Automotive
- Business Standard
Lumax Auto to acquire remaining 25% stake in IAC India for Rs 221 cr
Auto component supplier Lumax Auto Technologies (LATL) has signed an agreement to acquire the remaining 25 per cent stake in IAC International Automotive India from the International Automotive Components Group (IAC Group) for Rs 221 crore. Following this transaction, IAC India will become a wholly owned subsidiary of LATL. The deal is expected to close by 31 May 2025, subject to customary closing conditions. LATL had previously acquired a 75 per cent stake in the company in March 2023. The IAC Group will continue to provide technology support to IAC India under a technical assistance agreement. IAC India supplies plastic interior systems and components to major automotive OEMs in India, including Mahindra, Maruti Suzuki, Volkswagen, and Volvo Eicher Commercial Vehicles. It is also the exclusive supplier of integrated cockpits and door panels for Mahindra's new battery electric vehicle (BEV) models, the BE6 and XEV 9e. The company operates five manufacturing facilities in Chakan, Manesar, Nashik, and Bangalore. It also has an engineering centre in Pune with over 330 engineers and designers supporting product design, development, programme management, and tooling for both domestic and international customers. LATL is considering a merger of IAC India with itself to unlock operational synergies, subject to regulatory and legal approvals. LATL Chairman Deepak Jain said the acquisition fits into the company's broader strategy to scale its capabilities across lighting, plastics, and interiors, while also expanding its presence on electric vehicle platforms. Managing Director Anmol Jain noted that the full integration would support cost optimisation and create financial flexibility for future acquisitions. KPMG Corporate Finance acted as the exclusive financial advisor for the transaction, while Cyril Amarchand Mangaldas served as legal advisor to LATL. Lumax Auto Technologies, part of the Lumax-DK Jain Group, manufactures a wide range of automotive components including advanced plastics, gear shifters, mechatronics, and lighting systems. It operates 28 plants across India and supplies to clients including Bajaj Auto, Honda, Mahindra & Mahindra, Maruti Suzuki, Tata Motors, and Toyota.
Yahoo
09-04-2025
- Business
- Yahoo
Bitcoin User Accidentally Pays $60,000 in Fees After Panic-Induced RBF Error
A Bitcoin user accidentally paid nearly 0.75 BTC in transaction fees, worth around $60,000, after making a panic-driven error on April 8, 2025. This mistake occurred when the user tried to use the replace-by-fee (RBF) feature to adjust an unconfirmed transaction. The user's initial transaction featured a conservative fee, but after realizing the first transaction was unlikely to be processed in time, they attempted to replace it with a higher fee. However, in their rush, they ended up setting the fee much too high, leading to the overpayment. The second RBF transaction sent out a total of 0.75 BTC, which included 0.48 Bitcoin (worth about $37,770) and 0.2 BTC of change (valued at $16,357). Anmol Jain, vice president of investigations at AMLBot, explained that this likely stemmed from a typo or mistake when setting the transaction fee. Jain speculated that the user intended to set the fee to 30.5692 satoshis but accidentally typed 305,692 satoshis, which caused the wallet to calculate a fee far higher than expected. The issue may have been further compounded by the user failing to adjust the change address properly. This led to nearly 0.75 BTC being sent as part of the fee. It's also possible that the user misunderstood how the Bitcoin wallet sets fees, leading to an overcorrection when they tried to increase the fee to get the transaction confirmed faster. RBF is a controversial feature in Bitcoin. It allows users to increase the fee of an unconfirmed transaction to incentivize miners to include it in a block. However, the feature has been criticized for potentially causing double-spending. Bitcoin Cash, for example, removed RBF from its network, asserting that unconfirmed transactions are final and secure. Some Bitcoin developers believe RBF is necessary for speeding up transactions, but its implementation can lead to costly mistakes if users do not fully understand how to set fees correctly. In this case, the user's second transaction is unlikely to be confirmed because the higher-fee transaction took precedence, meaning the original and intermediate transactions will likely never be processed. This incident highlights the risks associated with RBF and underscores the importance of careful transaction management in the volatile world of cryptocurrency. Sign in to access your portfolio
Yahoo
15-02-2025
- Automotive
- Yahoo
Lumax Auto Technologies Ltd (BOM:532796) Q3 2025 Earnings Call Highlights: Record Revenue ...
Revenue: Q3 FY25 revenue at INR906 crores, up 24% year-on-year; 9-month FY25 revenue at INR2,504 crores, up 21%. EBITDA Margin: Q3 FY25 EBITDA margin at 14%. EBITDA: Q3 FY25 EBITDA at INR127 crores, up 9% year-on-year; 9-month FY25 EBITDA at INR350 crores, up 15%. Net Profit Before Tax: Q3 FY25 at INR56 crores, up 17% year-on-year. CapEx: 9-month FY25 CapEx at INR83 crores; full-year guidance at INR130-140 crores. Free Cash: INR315 crores as of December 31, 2024. Long-term Debt: INR462 crores with a debt-equity ratio of 0.53 as of December 31, 2024. Plastic Segment Revenue: 9-month FY25 revenue at INR1,420 crores, up 18% year-on-year. Mechatronic Segment Revenue: 9-month FY25 revenue at INR67 crores, up 75% year-on-year. Structures and Control Systems Revenue: 9-month FY25 revenue at INR512 crores, up 9% year-on-year. After Market Revenue: 9-month FY25 growth of 3% year-on-year. Order Book: Total order book value at INR1,350 crores, with 90% being new business. Warning! GuruFocus has detected 3 Warning Sign with BOM:532796. Release Date: February 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Lumax Auto Technologies Ltd (BOM:532796) reported a strong revenue growth of 24% for Q3 FY25, reaching INR906 crores, marking the highest ever single quarter revenue in the company's history. The company has successfully integrated Green Fuel Energy Solutions, contributing to revenue growth and expanding its product portfolio in clean mobility solutions. The mechatronics segment showed significant growth, with a 75% increase in revenue, driven by new product launches and joint ventures. The company has a robust order book of INR1,350 crores, with 90% being new business, indicating strong future revenue potential. Lumax Auto Technologies Ltd (BOM:532796) maintains a healthy free cash position of INR315 crores, supporting its financial stability and growth initiatives. The commercial vehicle market remains challenging, with flat volumes due to a slowdown in industrial activity and sluggish government capital expenditure. The After Market segment experienced muted growth, largely due to poor realization and tight liquidity, impacting overall revenue growth. High interest rates and tightening retail loans may lead to muted growth in the entry-level vehicle segment, affecting potential market expansion. The company faces risks from rising raw material prices, which could impact margins if not recovered from OEMs in a timely manner. There is a delay in the Tata Motors EV program, impacting the expected revenue contribution from this client in the near term. Q: Can you provide an outlook on the four-wheeler and two-wheeler industries, especially with the rise of EV launches? A: Anmol Jain, Managing Director, stated that the passenger vehicle segment is expected to see muted growth, with EV penetration increasing due to new launches from major OEMs. The two-wheeler industry is anticipated to outperform other segments, with a return to historic production volumes. Lumax Technologies is well-positioned in both segments, with significant contributions per vehicle in the EV space. Q: How is Lumax positioned to penetrate further into the EV market, and are there new products in the pipeline? A: Anmol Jain mentioned that Lumax is evaluating products and technologies to enter the EV space, focusing on software and integration rather than hardware. By FY26, the company expects to see progress in this area. Q: What is the status of the mechatronics segment, and which joint ventures are contributing to its growth? A: Anmol Jain highlighted that the mechatronics segment grew by 75%, driven by the Telematics joint venture and new product launches in the Yokowo joint venture. The segment's order book stands at INR320 crores, with significant contributions expected from Alpine and other partnerships. Q: Can you explain the recent performance and future outlook for IAC, Lumax Mannoh, and Lumax Cornaglia? A: Anmol Jain reported that IAC saw a 20% revenue increase, driven by tooling and manufacturing growth. Lumax Mannoh experienced muted growth due to a shift in product mix, while Lumax Cornaglia is expected to improve in FY26 with a strong order book. Q: How is the company addressing the implementation of OBD2 norms, and what impact will it have on revenue? A: Vikas Marwah, CEO, stated that the OBD2 norms are beneficial for Lumax, particularly for the Lumax FAE joint venture, which expects a revenue increase of INR60-70 crores from the mandatory secondary oxygen sensor, enhancing capacity utilization. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data
