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Platinum Industries Ltd. reports 64.7% revenue growth, exceeding INR 2 billion for H1 FY25; achieved INR 100 crore in revenue for both Q1 and Q2 FY25, with 63.6% YoY growth in Q2.

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MUMBAI, India, Nov. 18, 2024 /PRNewswire/ — Platinum Industries Ltd., a leading manufacturer of PVC and CPVC additives and the third-largest player in India’s PVC stabiliser market (Source: CRISIL Report), is pleased to announce its financial results for the second quarter and half-year ending September 30, 2024. The Company concluded the first half of the financial year by surpassing the INR 2 billion revenue mark, reflecting a significant milestone in its consolidated revenue performance.

Key Consolidated Financial Highlights for Q2 and H1 FY25 (INR in Million)

Particulars

Q2 FY25

Q2 FY24

%Change

H1 FY25

H1 FY24

% Change

Revenue from Operations

996.35

609.05

63.59 %

2,022.90

1,228.21

64.70 %

EBITDA

150.90

161.88

-6.78 %

355.59

323.78

9.82 %

EBITDA Margin %

15.15 %

26.58 %

-1143 bps

17.58 %

26.36 %

-878 bps

Profit Before Tax

193.99

151.61

27.95 %

432.96

302.43

43.16 %

PBT Margin %

19.47 %

24.89 %

-542 bps

21.40 %

24.62 %

-322 bps

Profit after Tax

145.26

114.41

26.96 %

322.64

228.35

41.29 %

PAT Margin %

13.80 %

18.61 %

-481 bps

15.17 %

18.45 %

-328 bps

Earnings Per Share (EPS) In INR

2.64

2.88

-8.33 %

5.75

5.71

0.70 %

Performance Highlights:

Revenue in Q2 FY25 reached INR 996.35 million, reflecting a year-on-year growth of 63.59%, driven by increased demand across domestic and international markets. For the first half of FY25, revenue surged by 64.7% year-on-year to INR 2,022.9 million. This substantial revenue growth underscores Platinum Industries’ resilience and adaptability in a competitive market. Platinum’s commitment to quality and reliability has led to long-term relationships with marquee clients, creating high retention and stable cash flows.

Profit Margins and EBITDA Performance

For H1 FY25, EBITDA reached INR 355.59 million, reflecting a 9.82% growth compared to H1 FY24. Compared to Q2FY24, EBITDA margin contracted by 1143 bps in Q2FY25 due to product mix skew towards lower margin products and higher operating expenses.

Nevertheless, the Company demonstrated improved return ratios, with Return on Equity (ROE) and Return on Capital Employed (ROCE) standing at 8.89% and 8.54% respectively for H1 FY25.

Strengthened Profitability in H1 FY25

Profit Before Tax (PBT) increased by 27.95% year-on-year to INR 193.99 million in Q2 FY25, with a PBT margin of 19.47%, down by 542 basis points. For the half-year, PBT grew by 43.16% to INR 432.96 million, demonstrating Platinum Industries’ commitment to maintaining strong profitability despite challenging cost conditions.

Earnings and Shareholder Value

Profit After Tax (PAT) for Q2 FY25 rose by 26.96% to INR 145.26 million, while H1 FY25 PAT reached INR 322.64 million, marking a year-on-year growth of 41.29%. The EPS for H1 FY25 was INR 5.75, indicating steady returns for shareholders amidst market challenges.

Chairman’s Commentary:

Mr. Krishna Rana, Chairman and Managing Director of Platinum Industries, commented, “Our performance for Q2 & H1 FY25 reflects not only the resilience of our business model, but also our commitment to long-term growth. As we expand our manufacturing footprint with upcoming facilities in Egypt and Palghar, we are strategically positioned to meet the growing demand for sustainable PVC stabilisers and additives across high-growth regions, in both mature and emerging markets. In particular, with a proven track record on sustainable, lead-free, and calcium-organic stabilizers, Platinum is well-positioned to align with global regulatory trends and eco-conscious market preferences. This capacity expansion, coupled with our focus on lead-free and eco-friendly solutions, underpins our mission to drive sustainable innovation and establish Platinum as a respected global peer in specialty chemicals.

He further added, “In terms of our outlook, Platinum Industries stands well-prepared to leverage its expanded capacity, sustainable innovations, and strong client relationships for long-term growth. With robust financial health and a clear strategy, we are set to capture further market share and deliver enduring value to our shareholders. A strong balance sheet, with funds from the recent IPO, provides us the financial flexibility needed for expansion, and R&D. We are now also exploring potential acquisitions as beachheads into Europe to accelerate market penetration.”

Strategic Capacity Expansion Roadmap

The new facilities in India and Egypt are set to significantly boost capacity, enabling Platinum to meet rising demand in regions like MENA, Europe, and the U.S., while enhancing cost-efficiency:

Palghar Facility, India: A 60,000-tonne annual capacity expansion focused on non-lead-based stabilisers is slated for completion by Q4 FY2024-25. Positioned near critical raw material sources and JNPT port, this facility will optimize both domestic supply and export logistics, supporting rapid delivery to key markets.Suez Canal Economic Zone, Egypt: Platinum’s new 60,000-tonne annual capacity facility in Egypt is scheduled to be operational by Q2 FY2025-26. This strategic location will enable efficient access to the high-growth MENA and LATAM regions, leveraging proximity to major shipping routes to minimize lead times and distribution costs.

About Platinum Industries Ltd.

Platinum Industries Ltd. is a premier multi-product company in the speciality chemicals sector, specialising in PVC & CPVC Additives, Metal Soaps and lubricants. As India’s leading PVC stabiliser manufacturer, Platinum supplies to over 30 countries from its ISO 9001:2015 certified facility in Palghar, Maharashtra, strategically located near JNPT Port for efficient import and export operations. The Company’s product range includes lead stabilisers, Hybrid™ low lead stabilisers, Highstab™ Ca- Zn/Ca-Org stabilisers, CPVC compounds, CPVC Add Packs, Metal Soaps and various lubricants, which are used in PVC pipes, fittings, profiles, electrical wires and cables, SPC floor tiles, Roofing and packaging materials. According to the CRISIL Report, Platinum Industries holds a 13% market share, making it the third- largest player in the domestic PVC stabiliser market for FY 2022-23. Platinum’s commitment to innovation is reinforced by a technical collaboration with HMS Concept E.U., led by Dr. Horst Michael Schiller. Additionally, an in-house R&D facility in Dhansar, Palghar, drives continuous product development. The Company’s substantial domestic market share, innovation, sustainable growth practices, and strategic global expansion plans, including new facilities in Egypt and Palghar, solidify its status as a market leader with a team of 104 people in Mumbai, India.

 

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Ashling’s Morgan Conque Named SMB Leader of the Year Finalist at the 2026 U.S. Forces in Business Awards

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The world’s largest celebration of veteran talent lands in Dallas, Texas, on December 10 to spotlight outstanding former service members driving American business forward.

CHICAGO, Nov. 6, 2026 /PRNewswire/ — Morgan Conque, Vice President of Go-to-Market at Ashling, a leading global provider of AI and Automation consulting and development services, has been named a finalist for SMB Leader of the Year at the 2026 U.S. Forces in Business Awards. Now in its ninth year, the program is the world’s largest celebration of military veterans in the civilian workforce, with this year’s shortlist selected from hundreds of nominations.

A U.S. Army officer commissioned through ROTC, Morgan served with NATO forces in Germany, ran personnel operations in South Korea, and advised an Afghan army hospital, where she helped cut the medical evacuation cycle from 17 hours to 3. She concluded her service as the Medical Operations and Logistics Officer for the First Cavalry Division, supporting more than 18,000 soldiers.

Morgan’s military experience translated into business leadership from the start. Following her service, she led branch operations for a large specialty infusion pharmacy team, then moved into intelligent automation and rapidly expanded her scope from bid manager to leading sales platforms, enablement, content, and strategy. Her education supports that trajectory, including a Bachelor of Science in Biology from Seattle University, a Master of Science in Biosecurity and Disaster Preparedness from Saint Louis University, and an Executive MBA from Baylor University’s Hankamer School of Business.

Today, Morgan leads go-to-market strategy at Ashling, aligning sales, marketing, and partnership teams to drive the fast-paced growth and navigate the ever evolving market landscape. “I look back on my transition into AI and automation as serendipitous,” Conque said. “The discipline I built in the Army, leading teams, making decisions with incomplete information, and staying accountable to the mission, carried directly into this field and suited me well. I remain fascinated by the conversations I’m part of and excited about where the industry is headed.”

More than 200,000 service members leave active duty in the United States each year, yet research by ZipRecruiter and the Call of Duty Endowment found that almost one-third of veterans are underemployed, a rate 15.6% higher than among their non-veteran peers. Morgan’s career is a testament to what that talent can achieve. Established in 2018, the Forces in Business Awards celebrate veteran role models like her, reflecting the breadth of industries and professional disciplines where former service members are making their mark.

Rear Admiral (Ret.) Milton “Jamie” Sands III, President and CEO of Special Operations Warrior Foundation, official charity partner of the U.S. Forces in Business Awards, said: “Congratulations to this year’s finalists, whose achievements demonstrate the value military experience brings to business. Service develops leaders who take responsibility, build strong teams, and deliver under pressure. These finalists are putting those qualities to work in new ways, strengthening their organizations and communities while helping others see what is possible after military service.”

Marshall Sied, Co-Founder and Co-CEO of Ashling, said: “Morgan’s experience as a military veteran has clearly laid a strong foundation for the evolution of her career.  At Ashling, she balances our fast-paced industry and constantly evolving capabilities with enthusiasm and clarity.  Morgan has the unique ability of being a creative thinker, inspiring team leader, and strong operational executor all at once. We are honored to have Morgan help lead the charge on many of our most mission-critical initiatives. She is a very deserving finalist.”

Winners will be announced on December 10, 2026, at a black-tie gala in the Lincoln Ballroom at the Hilton Dallas Lincoln Centre, hosted by longtime CBS News anchor and Gold Star son Doug Dunbar.

About Ashling

Ashling is a global AI and automation consulting and development firm specializing in digital process transformation. They align on what value means for enterprises, design, build and manage solutions that work from pilot to production, and architect an operating model designed for rapid deployment and compounding success.

Ashling’s delivery accelerators get clients to production 5x faster and prove ROI sooner, backed by a delivery team of forward-deployed AI pods and award-winning innovation. Ashling is the firm enterprise clients trust, with over 400 clients across industries, an 86 NPS, and an unwavering commitment to the business outcomes they deliver.

About the Forces in Business Awards

The Forces in Business Awards is the world’s largest business celebration of the military community. Taking place in the United States and United Kingdom, the Awards program is the leading platform for uncovering and showcasing the achievements and talents of veterans, presenting them as visible role models for transitioning service members and recognizing aspirational employers for current and former servicemen and women. The prestigious events promote the value that veterans add to the economy after service.

Media Contact

Madison Ramsay, Senior Marketing Manager, Ashling madison.ramsay@ashlingpartners.com

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SOURCE Ashling Partners

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Diamond Foundry Announces First-Ever D200mm Single-Crystal Diamond

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Breakthrough culminates 25 years of scientific pursuit and establishes a new scale for single-crystal diamond

SAN FRANCISCO, Nov. 6, 2026 /PRNewswire/ — Diamond Foundry Inc. today announced a major milestone in the history of materials technology: the creation of the first-ever D200mm single-crystal diamond, measuring 200 millimeters in diameter.

Diamond Foundry creates the world’s first 200mm single-crystal diamond, bringing diamond to semiconductor wafer scale.

The achievement marks a fundamental step forward in humanity’s ability to manufacture diamond as a technology material at semiconductor-relevant scale.

The announcement accompanies a keynote by Diamond Foundry CEO Martin Roscheisen, delivered by video at CarbonSemi 2026 in Ningbo, China. Watch the keynote: https://youtu.be/ae0XQBDlLMQ.

Diamond has long been recognized as an extraordinary material for technology. It combines the highest thermal conductivity with exceptional mechanical strength, electrical insulation, optical properties, and the potential for extreme electronic performance. Yet its use in advanced technology has been constrained by one basic limitation: size.

Diamond Foundry’s D200mm breakthrough changes that.

Producing single-crystal diamond at D200mm scale required overcoming fundamental challenges in crystal growth, plasma physics, reactor engineering, materials science, process control, and manufacturing. The result is not an assembly of individual diamond pieces and not a polycrystalline diamond wafer. It is a single-crystal diamond at D200mm scale.

“This is one of those milestones that once seemed almost impossible,” said Martin Roscheisen, CEO of Diamond Foundry Inc. “Hundreds of DF engineers, scientists, and technicians contributed to us getting here. It is the accumulated result of countless experiments, failures, inventions, rebuilt machines, and insights over more than a decade.”

Roscheisen particularly recognized Stefan Gsell and Martin Fischer, whose work on scaling single-crystal diamond began 25 years ago.

“Stefan and Martin pursued this goal for 25 years,” Roscheisen said. “There are very few examples in technology of someone sticking to a really hard scientific challenge with that level of perseverance. They kept going when the prevailing view was that single-crystal diamond simply could not be made at this scale. Today, the perseverance shows as the first-ever D200mm single-crystal diamond. And best of all, it makes D300mm predictable as well.”

From Gemstone Dimensions to Semiconductor Dimensions

The semiconductor industry is built around the ability to manufacture extraordinary materials at wafer scale. Silicon’s progression toward larger wafers transformed electronics by allowing increasingly sophisticated devices to be manufactured economically and repeatably.

Diamond has never had an equivalent scaling path.

Natural diamond is constrained by geology. Conventional lab-grown diamond has historically been constrained to relatively small crystal dimensions. Even as the extraordinary properties of diamond became increasingly relevant to high-power electronics, AI computing, optics, quantum systems, and other advanced technologies, crystal size remained a fundamental bottleneck.

The D200mm single-crystal diamond milestone demonstrates a path beyond that limitation.

For Diamond Foundry, the achievement is part of a broader effort to turn single-crystal diamond from a scarce material measured in gemstones into a tech-industrial semiconductor substrate manufactured at scale.

The implications are particularly significant as computing systems encounter increasingly severe thermal constraints. Modern AI processors concentrate enormous amounts of power into microscopic regions of silicon. Diamond’s exceptional thermal conductivity can spread that heat at the material level, creating new possibilities for chip architectures, power densities, reliability, and cooling.

Twenty-Five Years of Perseverance

The D200mm achievement has roots extending well beyond Diamond Foundry itself.

For 25 years, Gsell and Fischer pursued the underlying scientific and engineering challenge of growing high-quality single-crystal diamond of scalable size. Their work ultimately became part of a much larger effort involving hundreds of people across Diamond Foundry.

The milestone reflects advances spanning plasma generation, growth chemistry, reactor architecture, crystal engineering, thermal management, metrology, automation, and manufacturing.

“Technology history is often written around the moment something finally works,” Roscheisen said. “But that moment rests on the people who were willing to spend years — sometimes decades — making it work. This diamond exists because hundreds of people contributed, and because a few people refused to give up on the idea for 25 years.”

A New Scale for Diamond

Diamond Foundry views D200mm not as an endpoint, but as the beginning of a new manufacturing era for diamond.

The company is developing single-crystal diamond for semiconductor and advanced-technology applications where diamond’s combination of thermal, mechanical, electrical, and optical properties can enable performance beyond the limits of conventional materials.

The first D200mm crystal is shown as grown and unpolished — directly from the growth process.

For a material that nature forms only under extraordinary conditions deep inside the Earth, the significance is simple:

Single-crystal diamond has entered the wafer-scale era.

About Diamond Foundry Inc.

Diamond Foundry is the #1 producer of single-crystal diamond in the world. Founded in San Francisco, the company created the world’s first diamond wafer and is scaling volume production of chip substrates with a $2.77B EU Chips Act project in Spain.

Media contact: Jeff Yurek, j@df.com

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SOURCE Diamond Foundry

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Qued Ranks No. 5 on FreightWaves’ 2027 FreightTech 25, Its Third Straight Year on the List

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An independent panel ranked the AI appointment scheduling platform No. 5 of 25 companies selected from the 2027 FreightTech 100. FreightWaves announced the rankings Oct. 26 at the inaugural F3 Awards Dinner in Chattanooga.

BROADLANDS, Va., Nov. 6, 2026 /PRNewswire-PRWeb/ — Qued, a leader in developing sophisticated, automated appointment scheduling solutions for supply chain and logistics companies, today announced that it ranked No. 5 on the 2027 FreightTech 25, the FreightWaves list of 25 companies recognized for innovation across freight technology and transportation. FreightWaves revealed the list on Oct. 26 at the inaugural F3 Awards Dinner in Chattanooga, Tennessee.

Our customers earned this ranking. They book their appointments through Qued from inside the systems they already run, and we will keep building for the people who move freight every day.

This is the third year in a row Qued has made the FreightTech 25. Qued debuted at No. 6 in 2025 and ranked No. 3 in 2026.

The FreightTech 25 is selected from the FreightTech 100, a broader list of 100 companies FreightWaves recognizes for innovation in freight and supply chain technology. An independent panel ranks those 100 companies to set the top 25, and the accounting firm Henderson, Hutcherson & McCullough oversees the voting. FreightWaves recognized all 100 companies at the F3 Awards Dinner, where Sope Creek presented the 2027 FreightTech Awards.

“Appointment scheduling rarely makes headlines, so a third straight year on the FreightTech 25 means a lot to our team,” said Prasad Gollapalli, CEO and founder of Qued. “Our customers earned this ranking. They book their appointments through Qued from inside the systems they already run, and we will keep building for the people who move freight every day.”

Qued’s platform uses machine learning to find the best appointment slots in real time, weighing ETAs, facility capacity, historical performance, and the specific requirements of each location. Qued connects directly to the transportation management system a broker, 3PL, or carrier already runs, and it books through facility portals, email, and AI voice calls to facilities that only book by phone.

The full 2027 FreightTech 25 is published on FreightWaves.com.

About Qued

Qued is a cloud-based, AI-powered smart workflow automation platform transforming load appointment scheduling for brokers, 3PLs, and carriers. By automating the scheduling process, Qued eliminates manual work, simplifies multi-stop load appointments, and ensures seamless coordination across the supply chain, improving both operational efficiency and customer satisfaction. For more information, visit www.qued.com or contact us at contact.us@qued.com.

Media Contact

Adam Robinson, Qued, 1 2148720780, adam@the-robinson-agency.com, https://www.qued.com/

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SOURCE Qued

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