Startup
EV service infrastructure an industry-wide challenge, not just Ola’s: Bhavish Aggarwal
Service infrastructure in EV is also not just an
problem, it’s an industry problem, Bhavish Aggarwal, CEO of Ola Electric, said during the company’s second quarter earnings call on Friday.“… it’s an industry problem because training the mechanics in EV, battery maintenance, motor, electronics, software, all these are new things. So, we are investing effort into doing this, which I believe is probably the last leg of confidence customer needs,” Aggarwal said.
Earlier this month, the Central Consumer Protection Authority (CCPA) issued a show cause notice to Ola Electric, citing alleged violations of consumer rights, misleading advertisements, and unfair trade practices.
Addressing recent reports of 80,000 monthly service interactions, the Ola Electric founder clarified that these figures arise from routine maintenance and minor inquiries, and are not solely complaints. He added that 80,000 per month is not bad for a company with 8 lakh vehicles in operation, if majority of them are scheduled or minor queries.
“I think there are a lot of numbers floating around. Even if you take the 80,000 number from the press, if you think of any typical OEM product, it has one to two scheduled maintenance per year. If you have, let’s say, a million install base, that’s one and a half to 2 million service touch points per year. Now that makes it about 1.25 lakh a month,” he explained.
The company, which recently debuted on the Indian stock exchanges, posted a net loss of Rs 495 crore for the July-September quarter, narrowing from Rs 524 crore in the same period last year. However, its losses widened from Rs 324 crore on a quarterly basis.
The company saw its revenue from operations jump to Rs 1,214 crore in Q2 FY25, up from Rs 873 crore a year ago.
The Softbank-backed firm clocked a 73.6% increase in scooter deliveries, with 98,619 units sold this quarter compared to 56,813 units last year. As per the shareholder letter, the company’s gross margin rose by 12 percentage points to 20.3%, while the EBITDA margin fell by 17.6 percentage points to -28.4%.
Aggarwal added that the company will see growth over the next few quarters.
“The fundamentals of the EV transition of India remains very strong. As a leader of this transition, we feel confident to be a leader of this inflection point. As we launched our mass market portfolio a couple of quarters back, this quarter came into its own, we were able to supply it almost full demand. Quarter on quarter, our mass market products, the S1X portfolio grew 15%. Despite the growth in mass market, our premium market products continued to be a majority of our revenue,” he said.
Aggarwal revealed that Ola Electric is also developing three-wheelers and plans to launch 20 new products over the next two years, aiming to release at least one new product each quarter.
It also plans to expand its distribution network to 2,000 stores by March 2025 from the current 782 locations, alongside scaling its Network Partner Program.
“We think of firstly product and then volumes. Brand is an outcome of product experience of the customer and, obviously, at the scale at which we do it. Our premium products are holding very good, with our market share in the premium segment, in the S1 Pro or the S1 Air segment, being fairly high,” Aggarwal said.
In August, at its annual event Sankalp, Ola introduced the Roadster motorcycle series, with the first deliveries set for March 2025. The series includes models across mass and premium segments, priced between Rs 74,999 and Rs 249,999, featuring three models and eight variants.
“We have 782 company-owned stores as on September 2024, with each store delivering 130 sales per quarter, roughly 2-3X of industry average. We’re expanding our company-owned store (and colocated service infra) network to 2,000 company-owned stores by March 2025,” he said.
(Disclaimer: Shradha Sharma, Founder and CEO of YourStory, is an independent director in Ola Electric.)
Startup
ABFRL posts net loss at Rs 214.7 Cr in Sep qtr
Aditya Birla Fashion and Retail Ltd has reported a consolidated net loss of Rs 214.70 crore in the September 2024 quarter.
The company had posted a net loss of Rs 200.34 crore during the July-September quarter a year ago, according to a regulatory filing by Aditya Birla Fashion and Retail Ltd (ABFRL) late Thursday.
Its revenue from operations was Rs 3,643.86 crore during the quarter under review. The same stood at Rs 3,226.44 crore in the year-ago period.
“Consolidated net profit was impacted on account of higher depreciation/amortisation for brand & retail assets due to the inclusion of TCNS (clothing company) and higher interest costs on account of elevated borrowings,” ABFRL said in its earnings statement.
The consolidated financial results for the quarter ended September 30, 2024, are “not comparable with previous quarters” pursuant to the amalgamation of TCNS Clothing and acquisition of Goodview Fashion Private during the current quarter, the Aditya Birla Group firm said.
Its total expenses were Rs 3,993.56 crore in the September quarter.
“Businesses achieved consistent growth this quarter, despite a subdued consumption environment, driven by sustained focus on driving product enhancements, elevated customer experiences and brand refresh,” ABFRL said.
Growth was largely led by newer businesses operating in emerging consumer segments, while its established brands continued with their growth trajectory with a clear focus on improved profitability.
“While ABLBL (Aditya Birla Lifestyle Brands Ltd) reported sustained margins, the demerged ABFRL posted a sharp recovery in margins across its constituent businesses,” it said.
Its revenue from the ‘Madura Fashion & Lifestyle’ segment was Rs 1,861.75 crore in the September quarter.
While Pantaloons’ revenue was Rs 4,082.16 crore and Rs 755.42 crore from its Ethnic and Other business.
It has recently announced the de-merger of Madura business into a separately listed entity named ABLBL.
ABLBL will have its lifestyle brands business as Louis Philippe, Van Heusen, Allen Solly, Peter England, Simon Carter and youth western wear brands such as American Eagle & Forever 21.
It will also have sportswear brand Reebok business, for which it has a long-term licensing for India market.
ABFRL will have its retail business under Pantaloons and Style Up along with a host of ethnic brands, which it owns such as designer-led brands of Sabyasachi, Shantanu & Nikhil, House of Masaba and Tarun Tahiliani. It will also have premium ethnic wear brands of Jaypore, Tasva & TCNS portfolio.
As of September 30, 2024, ABFRL has a network of 4,538 stores across approximately 37,952 multi-brand outlets with 9,047 points of sales in department stores across India.
It has a repertoire of brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England. It operates the fashion retail store Pantaloons. Besides, it is a retailer of international brands such as Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle, Reebok, Simon Carter and Galeries Lafayette.
Shares of Aditya Birla Fashion and Retail Ltd on Friday were trading at Rs 303.25 apiece on the BSE, down 2.16%.
Startup
AI for beginners: Getting started without technical skills
Artificial intelligence is reshaping the world, powering innovations from self-driving cars to personalised shopping experiences. However, for many, diving into the AI field can seem like an impossible task, especially without a technical background. But here’s the good news: you don’t need to be a coder or a mathematician to get started in AI. In recent years, AI tools and learning resources have become more accessible, allowing curious beginners with no technical skills to explore and contribute to this field.
This guide will walk you through practical steps to get started in AI, focusing on accessible skills and resources, beginner-friendly tools, and strategies to build confidence and understanding. Whether you’re a business professional, a creative, or simply curious, you can make a start in AI today.
How to get started in AI without prior technical skills
1. Understanding the basics of AI
Before diving into AI tools or courses, it’s essential to understand foundational concepts. Familiarise yourself with terms like machine learning, deep learning, data science, and natural language processing (NLP). Resources like online articles, beginner-friendly videos, and podcasts can give you a solid grasp of AI terminology and applications without requiring any technical skills.
Quick resources:
- YouTube channels: Check out YouTube channels like “AI For Everyone” by Andrew Ng or “Lex Fridman Podcast” for beginner-friendly insights.
- AI glossaries: Sites like IBM or Google AI have glossaries that explain complex terms in simple language.
2. Learn with free AI resources
Many respected institutions and platforms offer free introductory AI courses. These courses break down complicated AI concepts into digestible lessons, making it easy for beginners without technical knowledge to follow along.
Recommended free courses:
- AI for Everyone by Andrew Ng (Coursera): A non-technical overview of AI and its potential impact on various industries.
- Elements of AI by Reaktor and the University of Helsinki: Covers AI basics in a simple, friendly format.
- Google’s Machine Learning Crash Course: Although slightly technical, it includes practical exercises that you can explore at your own pace.
3. Practical AI tools for non-techies
Today, AI-powered tools allow beginners to experiment without needing to write code. Many of these tools use drag-and-drop interfaces, enabling users to easily apply AI to real-world problems.
AI tools to explore:
- Teachable machine by Google: A user-friendly tool for creating image, sound, and pose models without coding.
- Runway ML: An intuitive platform for working with machine learning models for creative tasks like image and video editing.
- ChatGPT: OpenAI’s conversational AI, which you can use to simulate interactions or brainstorm ideas.
These tools help you understand how AI works in practice and can be a great confidence builder.
4. Join AI communities and forums
Connecting with others on the same path can provide motivation, support, and resources. AI communities are filled with enthusiasts and experts willing to share knowledge, answer questions, and offer project feedback.
Popular AI communities:
- Reddit: Subreddits like r/MachineLearning and r/Artificial offer a mix of technical and non-technical discussions.
- LinkedIn: Follow AI thought leaders and join relevant AI groups for industry news and insights.
- Discord and Slack: Many free AI servers on these platforms are beginner-friendly and include topic channels for specific interests like NLP or ethical AI.
5. Stay updated on AI trends
AI is rapidly evolving, and keeping up-to-date can help you understand current applications, ethical considerations, and potential career paths. You don’t need to read academic papers—opt for accessible news sources and newsletters that break down developments for non-technical readers.
Top newsletters:
- The Batch by DeepLearning.AI: Weekly updates and explanations of AI developments.
- AI Weekly: Curated news and articles for both techies and non-techies.
6. Take small, hands-on projects
One of the best ways to learn is by doing. Start with mini-projects that allow you to apply AI concepts practically. Many beginner-friendly AI tools offer templates and tutorials for getting started.
Example project ideas:
- Build a personal assistant: Use platforms like ChatGPT to create an AI chatbot that answers specific questions or helps with daily tasks.
- Image classifier: Create a simple model with Google’s Teachable Machine to recognise and classify objects.
- Text summariser: Tools like Hugging Face Transformers provide models to summarize long text documents. Try summarising an article or report.
7. Pursue certifications and micro-degrees
If you’re looking to add credibility to your AI knowledge, consider pursuing certifications or micro-degrees. Many institutions offer beginner-friendly AI certifications that don’t require a technical background.
Top programs:
- AI For Everyone (Coursera): Provides a certificate upon completion and is designed specifically for non-technical people.
- Introduction to AI (Microsoft): Covers AI concepts and applications, with an emphasis on real-world use cases.
- Professional Certificate in AI (edX): Courses from top universities offer a solid foundational understanding and certificates upon completion.
Conclusion: Moving forward in AI
Getting started in AI without technical skills is not only possible but can be incredibly rewarding. By focusing on the basics, exploring beginner-friendly tools, and building a network of resources and connections, you can grow your understanding of AI. Remember, AI is a field of lifelong learning—your journey will continually evolve as the technology does.
Embrace this opportunity to learn something new, explore emerging technologies, and maybe even shape the future of AI.
Startup
CCI scrutiny finds Zomato & Swiggy breached competition laws: Report
Food delivery and quick commerce giants Swiggy and Zomato ‘s business practices are reportedly in violation of competition laws, according to findings by Competition Commission of India (CCI).
A report by Reuters says that, as per non-public documents prepared by CCI, Zomato entered into “exclusivity contracts” with partners in return for lower commissions, while Swiggy promised business growth to certain players if they listed exclusively on its platform.
Zomato was found to have imposed pricing and discount restrictions on restaurant partners, with penalties for non-compliance, while Swiggy threatened to lower the rankings of partners who didn’t maintain price parity, says the Reuters report, citing CCI’s non-public documents.
Swiggy and Zomato did not respond to queries sent by YourStory.
CCI’s investigation in the food delivery players were initiated in 2022 after complaints from National Restaurant Association of India (NRAI) about the impact of alleged anti-competitive practices by the platforms on food outlets.
The NRAI complaint alleges that certain practices by Swiggy, including exclusivity agreements with restaurant partners, price parity requirements on third-party platforms, and its involvement in the downstream market, are harming competition, Swiggy noted in its red herring prospectus (RHP).
“We cannot assure you that an unfavourable decision in the aforesaid proceeding will not be passed or that such decision will not have an adverse impact on our business and operation,” Swiggy said, regarding the NRAI litigation, in its RHP.
The final phase of the CCI investigation involves a decision by the CCI leadership, which is still reviewing the investigation findings. The leadership will decide on any penalty or order changes to the business practices of Swiggy and Zomato.
Deepinder Goyal-led Zomato and Sriharsha Majety-led Swiggy have the option of contesting the investigation findings with CCI.
Shares of Zomato closed 3.22% lower at Rs 247 apiece on Friday, while Swiggy’s IPO was subscribed 3.59 times on its final day (November 8).
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