Somany Home Innovatino Ltd Q1FY22 consolidated net profit at Rs 103 63 crores equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Moneylife is an unbiased source for news and opinions on stocks and other personal finance products like mutual funds, loans, insurance, credit cards and also banking, finance and industry sectors in India
Hindware Appliances launches new range of IoT enabled air coolers
Hindware Appliances launches new range of IoT enabled air coolers
Advertisement
Somany Home Innovation Limited (SHIL), makers of ‘Hindware Appliances’, today launched India’s first foldable Air Cooler ‘i-Fold’ and a range of IoT-enabled Air Coolers.
The Hindware Snowcrest i-Fold is siad to be India’s first foldable Air Cooler and priced at Rs 19,990. The company has also introduced two IoT enabled air coolers i.e. Spectra i-Pro 36L, a personal air cooler, and Acura i-Pro 70L, a desert air cooler. The Hindware Spectra i-Pro 36L air cooler is priced at Rs 15,990 and Hindware Acura i-Pro 70L air cooler are priced at Rs 17,490.
Somany Home Innovation Limited completes slump sale of water heater business
Posted On: 2020-12-31 00:20:49 (Time Zone: Arizona, USA)
The Board of Directors of Somany Home Innovation Limited ( Company ) had earlier approved the sale of water heater business undertaking (the WHBU ) being part of consumer product division of Company, to its wholly owned subsidiary M/s. Hintastica Private Limited (the HPL ) by way of slump sale through business transfer agreement.
The aforesaid business transfer agreement was executed amongst the parties on 2nd July, 2020. Pursuant to the satisfactory completion of all the conditions precedent (as agreed between the parties under the business transfer agreement), the parties have agreed to 31 December, 2020 as the Closing Date and the Effective Date of the transaction i.e. the sale of WHBU by the Company to HPL shall be effective from 31st December, 2020.
Pandemic, early winter fuels online sale of appliances
Unlike previous years, where consumers would visit stores to make purchases, there has been a significant shift towards online purchases on account of coronavirus pandemic
Nidhi Singal | December 30, 2020 | Updated 00:07 IST
Pandemic COVID-19 along with the early onset of winters across the country has derived demand for winter appliances such as geysers, water heaters, immersion rods, and room heaters. Unlike previous years, where consumers would visit stores to make purchases, there has been a significant shift towards online purchases.
Hari G Kumar, Vice-President - Large Appliances at Flipkart, says, We are witnessing over 50 per cent increase in searches for winter appliances in the first 20 days of December 2020 over the same period last year with room heaters accounting for over a third of this demand. Interestingly, over 50 per cent of this demand came from Tier-III and beyond cities while cities such as New Delhi,