Technology

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.

Published

2 years ago

November 18, 2024

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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Technology

Datavault AI Founder Nathaniel Bradley Sues Board

Published

1 minute ago

November 7, 2026

WILMINGTON, Del., Nov. 6, 2026 /PRNewswire/ — Lawsuit Alleges Chairman and CFO Brett Moyer Engineered a Weekend Lockout While Keeping a $90–$100 Million Financing Offer From Independent Directors

Datavault AI Founder Nathaniel Bradley Sues Board

Nathaniel Bradley, the founder whose technology became Nasdaq-listed Datavault AI Inc. (NASDAQ: DVLT), today filed a lawsuit in the Delaware Court of Chancery asking the court to declare his contested ouster as CEO void and restore him to office. The complaint alleges that Board Chairman and CFO Brett Moyer “suspended” Bradley without a Board vote, cut off his email, and then rushed through a defective Sunday meeting, all while a $90–$100 million financing lifeline sat on the table.

On October 30, two days after Bradley asked the Board to consider removing Moyer as CFO, Moyer “suspended” Bradley on his own perceived authority. According to the complaint, no Board meeting was held and no written consent was circulated. This was done despite Datavault’s own Bylaws, which give only the full Board the power to remove officers.

The lawsuit further alleges that Moyer and certain unnamed directors shut Bradley out one day after he brought the company a $90–$100 million funding offer that could have substantially improved its financial position. Rather than present the offer, Moyer “suppressed, withheld and concealed” it from the company’s independent directors.

Last night, Bradley released the following statement:

“While I remain confident in Datavault AI’s technology, product offerings, and patent-protected innovations, I strongly dispute the legal validity of the Board’s decision to remove me as President and Chief Executive Officer.

“During my tenure, we increased revenue by more than 1,300% in my first year, alongside record trading volumes, and built the foundation for continued growth. We assembled a portfolio of more than

100 patents and pending applications, including newly issued U.S. patents in data valuation, tokenization, and wireless audio. We launched the Information Data Exchange, NIL Vault, and American Political Exchange, and signed licensing and tokenization agreements that bring real-world assets, from carbon credits to gold, copper, and geothermal energy, onto our platforms. We also completed strategic acquisitions, including API Media Innovations, that expanded our reach into digital twins, sports, and live events. We broadened our strategic partnership network, including with IBM,

ServiceNow, and the Department of Energy, and recruited industry-leading talent to the Datavault cause.

“Innovators are often targeted, and I intend to protect my rights and the interests of the Company and its shareholders. I believe the Board’s action jeopardizes the Company’s ability to realize its full potential.”

Jacob Frenkel, Bradley’s lead counsel and a former SEC enforcement lawyer and federal prosecutor, said:

“The company’s groundbreaking and cutting-edge technologies are a function of Mr. Bradley’s brilliance and vision. As a corporate leader, Mr. Bradley has a long-standing commitment to best practices in corporate governance.”

Mr. Bradley puts his investors first. When you’re out building and innovating and those you think you can trust decide to stage a corporate coup, the only place for relief is in court. Mr. Bradley will continue to fight for the shareholders and against those who put their own interests ahead of the company’s stakeholders.”

Read the full complaint here.

About Nathaniel Bradley:

Nathaniel Bradley is an inventor and technology executive who holds more than 70 patents. He founded and invented AudioEye, founded Intellectual Property Network Inc., and served as CTO of Marathon Patent Group (now Marathon Digital Holdings). In 2021, he founded Data Vault Holdings, whose assets were acquired in December 2024 by WiSA Technologies, the company that became Datavault AI. As CEO, he led the company through partnerships with IBM, Dolby Laboratories, and NYIAX, as well as the acquisition of CompuSystems assets.

View original content:https://www.prnewswire.com/news-releases/datavault-ai-founder-nathaniel-bradley-sues-board-302932495.html

SOURCE Datavault AI Inc

Technology

County of Sussex, New Jersey Notice of Data Privacy Incident

Published

1 minute ago

November 7, 2026

NEWTON, N.J., Nov. 6, 2026 /PRNewswire/ — Sussex County Prosecutor’s Office (SCPO) experienced a data privacy event that involved personal information.

On or about August 10, 2026, SCPO received alerts of a disruption to its computer network. Upon this identification, it launched an immediate investigation and engaged outside cybersecurity specialists to assist. The investigation determined that someone accessed its network without authorization between July 15, 2026, and July 22, 2026, and that certain files containing personal information were accessed and may have been taken. That information includes people’s first and last name, Social Security number, and driver’s license or State-issued identification card number. The SCPO has reported the incident to state and federal law enforcement, the New Jersey Cybersecurity and Communications Integration Cell (NJCCIC), and the Office of Attorney General. For more information on this incident, people may contact the call center at (888) 269-1448, Monday through Friday, 9:00 a.m. to 9:00 p.m. EST for further assistance.

Lauren Stinger, Esq.
Lauren.stinger@kennedyslaw.com
Associate Counsel

View original content:https://www.prnewswire.com/news-releases/county-of-sussex-new-jersey-notice-of-data-privacy-incident-302932369.html

SOURCE Kennedys CMK LLP

Technology

Light AI Announces Resignation of Director and Officer

Published

1 hour ago

November 7, 2026

VANCOUVER, BC, Nov. 6, 2026 /CNW/ — Light AI Inc. (“Light AI” or the “Company”) (CBOE CA: ALGO (FSE: OHC) (OTCQB: OHCFF), announces that Peter Whitehead has resigned as a director and the Chief Innovation Officer of the Company to pursue other opportunities. The Company would like to thank Mr. Whitehead for his contributions to the Company.

About Light AI Inc. (CBOE CA: ALGO / FSE: OHC / OTCQB: OHCFF)

Light AI Inc. is a healthcare technology company focused on developing artificial intelligence-powered SaMD solutions designed to support rapid, accessible clinical assessment at the point of care. The Company’s core technology, Light AI QuickScan™, is a device-agnostic software platform that applies proprietary artificial intelligence and machine learning algorithms to medical images. The QuickScan™ platform is designed to operate across compatible imaging and computing hardware, providing flexibility for integration into a range of healthcare devices, clinical workflows and care settings without dependence on a single proprietary hardware platform.

ON BEHALF OF THE COMPANY

“John R. Luna”
Chief Executive Officer

For more information, please contact the Company at investors@light.ai or visit https://light.ai/.

Website: https://light.ai/
LinkedIn: LinkedIn/company/Light AI
X (Formerly Twitter): @lightaihealth

SOURCE Light AI Inc.