Food delivery and restaurant-discovery platform Zomato Limited’s wholly owned subsidiary PT Zomato Media Indonesia (PTZMI) has begun the process of liquidation, the Gurugram-based startup has told exchanges.
According to Zomato’s red herring prospectus in July 2021, PTZMI, a company based in Indonesia, has been inactive in terms of business operations. In a filing on July 5, it was mentioned that the liquidation of PTZMI would not have a notable effect on Zomato’s turnover or revenue. This is because PTZMI is not deemed a significant subsidiary of the company.
In accordance with listing regulations, Zomato has furnished the required financial information of PTZMI for the previous fiscal year, which concluded on March 31, 2023. As per the provided details, PTZMI recorded a turnover of zero and made no contribution to Zomato’s overall turnover. The net worth of PTZMI was reported as INR 1.5 crore, constituting 0.01 percent of Zomato’s net worth.
The liquidation process of PTZMI is expected to be completed within the next 12 months, subject to required approvals, the food aggregator said.
Detailed information regarding the sale or disposal, including the agreement date, consideration received, buyers’ details, and related party transactions, is not applicable in this case.
On July 5, the Zomato stock closed 1.07 percent down on the National Stock Exchange at INR 74.
The Delhi government has sought public feedback on its draft policy concerning independent food outlets in the national capital. The purpose of this initiative is to gather input from the public regarding the proposed policy, which aims to streamline licensing norms and support the growth and expansion of these establishments.
The policy was announced in the Rozgar Budget 2022-23 by the then Finance Minister Manish Sisodia.
The deadline for public feedback is set for July 20th.
According to the draft, the government has taken a stance to formally recognize independent food outlets as a separate entity. The reason behind this decision is that most of the government’s stakeholder departments currently lack a designated category specifically addressing “Independent Food outlets” within their policy framework.
“The term ‘independent food outlet’ shall include other similar terminology such as cloud kitchen, ghost kitchen, dark kitchen, base kitchen, satellite kitchen and virtual kitchen etc.,” it said.
“‘Independent food outlet’ shall mean those outlets that operate independently in any commercial or industrial space without any of its products being sold to consumers on-site,” the draft mentions.
Specifying the definition of independent food outlets, the draft specified that all food/products of such outlets should be invariably delivered to the consumers by way of delivery personnel. However, outlets that are attached to dine-in restaurants or takeaway establishments should not be specified as independent food outlets.
The Delhi government’s Department of Industries has been mandated to develop a single-window portal for licensing and compliance under the recently notified start-up policy.
The single-window portal will serve as an online platform for streamlining the process of obtaining licenses and permissions for establishing and operating independent food outlets within the National Capital Territory of Delhi.
The policy proposes for removal of the requirement of a fire NOC while stressing that a ‘no fire NOC’ should be required for the establishment and operation of independent food outlets in industrial and commercial locations for covered areas below 250 square metres.
The policy envisions 24X7 operations for such outlets.
The Labour Department will examine and bring suitable amendments to permit round-the-clock operations for independent food outlets.
It proposes the adoption of a computerised inspection management system, which may provide random assignment of inspections, wherever necessary.
“The concerned department shall carry out a risk-based assessment in a time-bound manner by determining the need and periodicity of inspections ensuring transparency,” the draft said.
The Delhi government will also develop independent food outlets if a need is felt for the development of such a facility in any industrial/commercial area, through the Delhi State Industrial and Infrastructure Development Corporation Ltd. (DSIIDC).
It states that these facilities shall be of plug-and-play in nature with all the common infrastructures being provided at the complex. These facilities shall be allowed to operate on a rental basis and subsidised if required.
In addition, some other ancillary facilities such as common infrastructure, food testing labs, temperature-controlled warehousing, docking & storage facility, chilling station, co-working office space etc. may also be developed, it said.
The Department of Industries will be the implementing agency for all reward and incentive schemes under the policy except for the development of infrastructure, with all independent food outlets having to register themselves with the implementing agency under this policy before claiming any benefits of the policy.
It also provides for the creation of an empowered committee headed by the Minister of Industries comprising representatives of all concerned departments.
The committee shall conduct meetings once in three months and evaluate the policy periodically and modify, amend or relax any provision thereof, to ease the operations of independent food outlets with the approval of the Minister of Industries, GNCTD.
It shall take all measures to resolve the grievances and any major issues faced by the industry and any difficulty in implementation of the policy, the draft policy said.
According to government officials, currently, around 20,000 cloud kitchens and independent food outlets are operating in different parts of Delhi. Approximately, four lakh people are working with or associated with these establishments in some way.
The World Health Organization (WHO) has released guidelines outlining policies designed to safeguard children from the detrimental impact of unhealthy food.
WHO urges countries to implement comprehensive mandatory guidelines to protect children of all ages from the marketing of foods and non-alcoholic beverages high in saturated fatty acids, trans-fatty acids, free sugars and/or salt (HFSS).
WHO recommendations are based on recent evidence, including how food marketing negatively impacts children’s health, eating behaviour, and other food-related attitudes and beliefs.
Policies to Restrict Food Marketing
It is also very significant to restrict the power of food marketing to persuade, which involves the use of cartoons and techniques that are appealing to children. The policies restricting food marketing are most effective if they are:
Mandatory to implement
Protecting children of all ages
Classify foods to be restricted from marketing based on the government-led nutrient profile model
Sufficiently comprehensive to minimise the risk of migration of marketing to other age groups.
According to Dr. Francesco Branca, the Director of the Department of Nutrition and Food Safety at the World Health Organization (WHO), the aggressive and persuasive marketing of food and beverages high in saturated fatty acids, trans-fatty acids, free sugars, and/or salt (HFSS) is a significant factor contributing to unhealthy dietary choices.
“Calls to responsible marketing practices have not had a meaningful impact. Governments should establish strong and comprehensive regulations,” Dr Francesco added.
The WHO emphasises adapting guidelines to the local contexts of WHO regions and member states. Local consultations are mandatory for the adoption of recommendations and adaptation to the country’s context, protecting public health policy-making from undue influence by real, perceived or potential conflicts of interest.
The policies of WHO protect children from the harmful impact of food marketing and implement a comprehensive policy approach to enable a supportive food environment.
The WHO guidelines assist governments in developing a healthy food environment and facilitating healthy dietary decisions, establishing lifelong healthy eating habits, improving dietary quality and decreasing the risk of noncommunicable diseases worldwide.
Agriculture has been affected in Manipur as many farmers are unable to tend to their fields due to the ongoing ethnic violence, and if the situation does not improve, food production in the northeastern state will be affected, a senior official said on Wednesday.
According to the Director of the Department of Agriculture, N Gojendro, a significant loss of 15,437.23 metric tonnes has been incurred until June 28 due to farmers’ inability to cultivate approximately 5,127 hectares of agricultural land.
“If the farmers are unable to cultivate paddy this monsoon season, the loss will increase by the end of July. The department has, however, readied fertilisers and seeds that can be harvested in a shorter period of time and required lesser amount of water,” he said.
There are around 2-3 lakh farmers in the state cultivating paddy on 1.95 lakh hectares of agricultural land.
Thoubal district has the highest yield per hectare in the state, he said.
Farmers fear that there might be a shortage of locally grown ‘Meitei Rice’, leading to price rise next year, if farming is not carried out in full swing in all areas by the end of this month.
While some farmers in the outlying areas of Imphal are tending to their fields despite fear of being shot at by militants from the nearby hills, many are abstaining from farming in the peak season for fear of their lives.
Thokchom Milan, a farmer from Moidangpokpi area in Bishnupur district, which has seen many such happenings, said, “Incidents of firing on farmers from bunkers of militants on hilltops has paralysed paddy cultivation in the periphery of Imphal Valley.”
“Some of us go to the fields with fear in our hearts but we have to cultivate else we will go hungry an entire year,” he said.
The 40-year-old farmer said lesser food production this year will mean shortages and higher prices of ‘Meitei Rice’ next year.
Sabit Kumar, another farmer in Moirang Khunou in the same district, said, “Sowing and cultivation of the indigenous variety of rice is done in June and July, while harvesting are done five months later in November-end.”
“Adding to our woes is the rainfall deficiency this year. Last year, heavy rain had flooded paddy fields in May-end, whereas this year, there has been less rain. The scorching sun dries the ground, making cultivation difficult,” he said.
‘Meitei Rice’ needs a lot of water for cultivation. It has high starch and carbohydrates.
Chief Minister N Biren Singh had earlier said that 2,000 state forces have been deployed in sensitive areas to patrol and provide security to farmers during cultivation.
McDonald’s Corp., the leading global operator of fast-food restaurants, has announced plans to expand its presence in South Korea by 25% in response to growing competition within the domestic burger industry. Simultaneously, the company remains committed to finding a strategic partner to facilitate the sale of its business in the country.
According to CEO Kim Kiwon, HanGook McDonald’s Co., the South Korean unit of the global food service giant, has set a target to operate 500 restaurants in the country by 2030. As of the end of 2022, the South Korean unit of McDonald’s had a total of 399 locations, as reported in its filing to the national financial regulator.
After successfully launching three outlets in the first half of the year and two in the previous year, the South Korean unit of McDonald’s is gearing up to open five new locations in the second half. Additionally, the company has plans to open a total of 30 restaurants by the year 2030.
“We will accelerate the opening of new restaurants to ramp up customer contact points,” Kim told reporters in her first public appearance since she took office in May last year.
Kim stated that the anticipated expansion is expected to contribute to the eventual profitability of McDonald’s South Korean unit.
Despite recording a growth in sales by 14.6% to a record 994.6 billion won, the company faced an operating loss for the fourth consecutive year, with a deficit of 27.8 billion won ($21.4 million) in 2022. In the first half of this year, sales, including those from franchise stores, saw a 9.7% increase, amounting to 623.4 billion won.
“Higher sales and investments are more essential than immediate profitability,” Kim said. “We need to cut investments in products and services for a turnaround in the near term, but that is not a long-term goal of McDonald’s. We must maintain growth by increasing stores.”
McDonald’s South Korean unit also tried to attract customers with localized menus, given growing competition in the local premium burger market.
“Value for money is important to McDonald’s, but we need a proper strategy for markets with rapid changes such as South Korea,” Kim said.
McDonald’s continues to seek a sale of the South Korean operation to a strategic partner, given the importance of the business growth.
Its talks for the sale with Dongwon Industries Co., the holding company of South Korea’s top seafood company Dongwon Group, failed earlier this year.
“The sale is not only for profits,” Kim said. “We are looking for a strategic partner for the growth and development of HanGook McDonald’s.”
Porta, a traditional Italian food company based in Canada, recently revealed its successful completion of a Series A funding round, amassing CAD 10.5 million (equivalent to approximately $7.935 million).
Porta emerged in 2021 as a fresh endeavor, brought to life through a collaboration between Terroni, an Italian restaurant brand based in Canada, and BrandProject, a venture capital fund. The funding for this venture was spearheaded by Terroni, along with its parent company Gruppo Terroni, BrandProject, and the Toskan Family Trust (TTFT).
Following Porta’s successful expansion into nearly 100 specialty grocery stores across Ontario, Canada, the funding acquired will be utilized to further fuel its retail growth and bolster its thriving direct-to-consumer operations.
Jason Cassidy, Founding General Nanager at Porta, said, “Our business continues to evolve into an omnichannel CPG company. This funding will allow us to continue to innovate on new product categories, expand into new markets and invest in strategic shopper and trade marketing initiatives.”
Porta presents genuine frozen ready meals crafted with high-quality Italian ingredients and locally-sourced components, ensuring an authentic dining experience. These delectable meals are conveniently prepared and can be savored in just 15 minutes or even less.
Cosimo Mammoliti, CEO of Gruppo Terroni, commented, “Our mission is to make every cook feel like a chef and we do that by making it easier to access, order and cook the best that Italy has to offer right in your home.”
Brett Toskan, President of TTFT, added, “Porta offers something unique to Canadians, which has allowed it to quickly differentiate itself from other home meal solutions. As an investor, we’ve been impressed by the rich history and passion for product quality that the Terroni team has, and by the strong team they have brought together. We look forward to supporting Porta in its continued growth.”
Adani Wilmar on Wednesday reported a 25 percent year-on-year volume growth during the quarter ending June 30, mainly on account of robust consumer demand in edible oils and foods.
According to a regulatory filing, Adani Wilmar stated that the sales of branded products in the edible oils and foods category have significantly outperformed the overall sales of their respective segments.
However, the sales in value terms declined 15 percent YoY following a sharp decline in the edible oil prices, the company added.
The volume of the edible oil business experienced a significant 25 percent year-on-year growth during the quarter. This expansion can be attributed to robust consumer demand and the favorable comparison to the corresponding quarter in FY23, which had a weaker performance.
Adani Wilmar further said that the food and FMCG segment recorded a revenue growth of 30 percent during the first quarter of this fiscal compared to last year, crossing INR 1,000 crore.
This was the eighth consecutive quarter with 20 percent year-on-year volume growth in the food segment and 30 percent in the FMCG segment, it said.
Both urban and rural areas have witnessed strong demand, the company said, adding that the oil and foods continued to grow at a rapid pace in the alternate channels (e-commerce, MT, eB2B among others) and recorded around 50 percent year-on-year volume growth for the quarter.
The company said it continued its focus on expanding the distribution of both oil and food products in the general trade channel.
The sale of branded products to HoReCa (hotels, restaurants and catering) clients continued to grow strongly during the first quarter of this fiscal with distribution expansion in more cities and acquisition of new client accounts, the company added.
The industry essentials business grew by 20 percent YoY by volume in the first quarter of FY24.
However, the revenues declined by 15 per cent YoY due to steep correction in prices of oleo and castor products, which together contribute around 70 percent of this segment’s revenue.
The strong volume growth was primarily driven by good crush operations and exports of animal feed products, the company added.
Shares of Adani Wilmar on Wednesday closed at INR 406.95, down 0.20 percent, on the BSE.
The Indian government-backed Open Network for Digital Commerce (ONDC) revealed on Wednesday, July 5th, that it has expanded its reach to five additional cities. The platform has officially gone live in Beta mode in Mumbai, Delhi-NCR, Chennai, Hyderabad, and Kolkata.
After successfully increasing the density of sellers over the past few months, the ONDC platform has now gone live in these newly added cities. A recent statement revealed that the network currently boasts over 40,000 sellers, with more than 18,000 of them operating specifically within these five cities.
In April of the previous year, ONDC conducted a soft launch in Delhi-NCR, Bengaluru, Bhopal, Shillong, and Coimbatore. Following this, the platform was made available to the public in Bengaluru in September and subsequently entered the Beta phase in Meerut, Uttar Pradesh, in December.
According to ONDC, the primary purpose of going Beta live is to provide consumers with their initial experience of the open network, gather real-time feedback, and conduct large-scale testing before the nationwide rollout.
T Koshy, MD and CEO of ONDC, said, “We hope that with this Beta announcement, more and more businesses will be inclined to join us, benefiting from an early-mover advantage. Additionally, as we touch more consumer territories, it also gives us the insights and opportunities to improve the network.”
Established in December 2021, ONDC is an initiative led by the Department of Promotion of Industry and Internal Trade (DPIIT) with the aim of democratizing ecommerce within the country. Its mission is to facilitate wider adoption of retail ecommerce in India, fostering greater accessibility and penetration.
Since its launch in various Indian cities, ONDC has garnered considerable attention from private ecommerce players, logistics startups, payment platforms, banks, and other stakeholders within just one year of operation. Notably, startups such as PhonePe, Paytm, Delhivery, Dunzo, Shiprocket, and Snapdeal have recently integrated their services with ONDC, highlighting the growing interest and support for the platform.
The open platform is now accessible in more than 235 cities, providing a wide range of services in areas such as food, grocery, electronics, fashion, and mobility.
In the earlier part of this year, ONDC made its entry into the mobility sector by partnering with Namma Yatri, an auto booking platform based in Bengaluru, and integrating it into its network. Koshy, in a recent update, mentioned that the platform aims to expand into the financial products and services segment within a few months.
In May of this year, ONDC reported a significant increase in daily transactions. They experienced a surge from a mere 50 orders in January 2023 to 25,000 orders during the first week of May.
To facilitate the growth of the network, Google Cloud has recently introduced an accelerator program for ONDC. As part of this initiative, participants of the open platform will have the opportunity to receive a grant of up to $25,000, along with various other technological resources and facilities.
Cheesiano Pizza, known for its mouthwatering pizzas and rapid growth in the quick-service restaurant (QSR) sector, is excited to announce its entry into the lively city of Hyderabad. Having successfully established ten strategically placed outlets in prime locations in Pune, Cheesiano Pizza is ready to bring a wave of innovation to the QSR industry with its unwavering dedication to exceptional quality and service. Furthermore, Cheesiano has recently introduced a new brand called Burgerino in Pune and is now extending its presence to Hyderabad.
Co-founded by Sachien Tilve, Niraj Bora, and Prasad Tilve, Cheesiano Pizza has become a local favourite due to its focus on using the freshest ingredients and delivering freshly baked items every time. Buoyed by its success, the brand is now embarking on a journey to establish its presence pan India, starting with the burgeoning Hyderabad market.
Niraj Bora, Co-Founder of Cheesiano Pizza, stated, ‘We are thrilled to bring Cheesiano Pizza to the vibrant city of Hyderabad. Our commitment to providing the best quality and service has been the driving force behind our rapid growth. We believe that Hyderabad presents an excellent opportunity for us to expand our brand and bring our delicious pizzas and exciting new offerings to a whole new set of customers.’”
‘The decision to venture into Hyderabad is an exciting milestone for us. We are confident that our focus on using fresh ingredients, delivering freshly baked items, and our unique fusion of Indian and American flavors through Burgerino will resonate with the discerning taste buds of the city’s residents. We look forward to serving the people of Hyderabad and making Cheesiano Pizza and Burgerino a beloved local favorite.” He added.
In an effort to enhance the ordering experience and align with modern tech aggregators, Cheesiano is gearing up for the launch of its highly anticipated mobile app. Scheduled for release this month in July, the app will be available for both Android and iOS users, providing a seamless and user-friendly platform for placing orders. Additionally, Cheesiano is bolstering its delivery capabilities by introducing its own fleet, ensuring quicker and more efficient deliveries across all its outlets. These strategic moves aim to further elevate customer satisfaction and solidify Cheesiano’s position as a leading player in the food delivery industry.
Hostel life can be exciting, full of new experiences and opportunities. However, it often comes with limited resources and a tight budget, making it challenging for students to maintain a healthy diet. Many hostel students struggle to find affordable and nutritious meals, resorting to cheap and unhealthy options. This article aims to provide practical tips and strategies for hostel students to eat healthy without compromising their limited budget. By following these suggestions, students can nourish their bodies, improve their overall well-being, and enhance their academic performance.
Plan Ahead and Create a Budget:
Effective meal planning is crucial for hostel students on a tight budget. Start by creating a weekly or monthly budget for food expenses. Allocate a certain amount to each meal, considering both nutritional value and cost. By planning ahead, students can avoid impulsive and expensive purchases.
Buy in Bulk:
Purchasing food items in bulk can significantly reduce expenses. Look for wholesale markets or supermarkets that offer discounts on bulk purchases. Staples such as rice, pasta, lentils, and canned goods have long shelf lives and can be bought in larger quantities. Divide them into smaller portions to ensure freshness and reduce wastage. Additionally, consider buying frozen fruits and vegetables, as they are often cheaper and still retain essential nutrients.
Cook in Groups and Share Expenses:
Collaboration is key when it comes to eating on a shoestring budget. Coordinate with hostel mates and plan group meals where everyone contributes ingredients and shares the cost. This not only promotes teamwork and community spirit but also reduces individual expenses. By rotating responsibilities, each person gets a chance to cook and enjoy varied and nutritious meals while saving money.
Embrace Seasonal and Local Produce:
Seasonal and locally sourced produce tends to be cheaper and more readily available. Fruits and vegetables that are in-season offer better nutritional value and taste. Visit local farmers’ markets or roadside vendors for affordable and fresh produce. Experiment with different recipes that incorporate seasonal ingredients, making mealtimes more exciting and healthy.
Opt for Vegetarian and Plant-Based Meals:
Meat and poultry products can be expensive, especially for students on a tight budget. Embracing vegetarian and plant-based meals not only reduces costs but also provides numerous health benefits. Legumes, such as lentils, chickpeas, and beans, are excellent sources of protein and are significantly cheaper than meat. Explore recipes that highlight vegetables, grains, and legumes as the main components, ensuring a balanced and cost-effective diet.
Minimize Eating Out and Pack Lunches:
Eating out regularly can quickly deplete a student’s budget. Instead, allocate a specific portion of the budget for occasional meals or outings. Prepare homemade meals and pack lunches for college or university. Investing in reusable containers and a lunch bag will save money on disposable packaging while allowing for healthier and customized meals.
Limit Processed Foods and Beverages:
Processed foods and sugary beverages are not only unhealthy but also expensive. They offer little nutritional value and often lead to cravings and overeating. Instead, focus on whole foods such as fruits, vegetables, whole grains, and lean proteins. Drinking water is the most affordable and healthiest option. Consider investing in a reusable water bottle and carry it everywhere to stay hydrated without additional costs.
Make Use of Hostel Kitchen Facilities:
Most hostels provide communal kitchens with basic cooking facilities. Take advantage of these amenities and cook meals from scratch whenever possible. This not only saves money but also allows students to have control over the ingredients and cooking methods, ensuring healthier choices.
Final Thoughts:
Maintaining a healthy diet on a shoestring budget is indeed challenging, but with proper planning, creativity, and collaboration, hostel students can overcome this obstacle. By implementing the strategies outlined in this article, students can prioritize their health, boost their energy levels, and improve their overall well-being. Remember, a nutritious diet is an investment in academic success and a stepping stone towards a healthier future.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
