November 14, 2020 the DCS- CRD BSE Limited Corporate
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November 14, 2020 The DCS- CRD National Stock Exchange of India Ltd BSE Limited Exchange Plaza, C-1, Block G, Corporate Relationship Department Bandra Kurla Complex, 1st Floor, New Trading Ring, Bandra (East), Rotunda Building, P. J. Towers, Mumbai – 400 051 Dalal Street, Mumbai – 400 001 Dear Sir / Madam, Scrip Code : 543212 Symbol : BOROLTD Series : EQ ISIN: INE02PY01013 Sub : Copy of Advertisement Published in Newspaper(s) – for Extract of Statement of Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended 30th September, 2020. Pursuant to the provision of Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed copies of advertisement published in Business Standard (all editions) newspaper and Loksatta (Mumbai) newspaper in Marathi translation both on November 14, 2020, for Extract of Statement of Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended 30th September, 2020. You are requested to take note of the same. Yours faithfully, For Borosil Limited (Formerly known as Hopewell Tableware Limited) Manoj Dere Company Secretary & Compliance Officer FCS No. 7652 MUMBAI | 14 NOVEMBER 2020 TAKE TWO 11 . < Wholesale goes ‘retail’ New buyers in online sales up 69% The pandemic has from 2019: Christie’s India MD London-headquartered auction house Christie’s has found in the pandemic an opportunity to accelerate its and lectures alike. We have accelerated the shift online sales and reach collectors across the globe. Till August 20 this year, it had held 115 auctions — 100 of them now held four Modern and online. More auctions have since followed. Christie’s India Managing Director SONAL SINGH tells Veenu Sandhu Contemporary South Asian that blurs the difference that the digital progress made during this short period has been a game changer. Edited excerpts: Art auctions online since between B2B and B2C March, and this category How has the pandemic pushed our business forward. digital and livestreaming. continues to see approxi- NIVEDITA MOOKERJI impacted the art auction After our recent sale in mately 50 per cent of its New Delhi, 13 November scenario? London (October 22), my Where does India feature in buyers coming from India. This situation has affected colleague and our global terms of collectors, and how In my experience, collectors he story of India’s modern whole- everyone within the president Jussi Pylkkänen has the Indian collectors’ have used this time to further sale, which started in a big way wider global art said: “The market evolved in Christie’s learn and study their areas of T with American retail major community and vocabulary of experience? interest and it has only Walmart’s entry, is witnessing a transi- we must work auctioneering Our collectors in India have deepened their passion for tion that may change the face of the collaboratively to and the art market embraced the online experi- the category. business like never before. support one has changed ence and have been very The rush to open new stores, which another to shape SONAL SINGH fundamentally.” I active, both in our auctions In the online format, are there defined the industry’s interest in the organ- the future. Whilst Managing Director, agree. History also certain categories of collectib- ised wholesale sector till now, is receding. this has been a Christie’s India shows that the art les that do better than others? Online play is a priority now — so far tricky time and has market has a natural There were always depart- unthinkable in a business that’s all about a had an effect on many resilience. There is a persistent ments whose objects best meaningful interface with kirana, or mom- business revenues in the short appetite and our experience in suited the online format, and-pop stores. Real estate acquisition is verted to fulfillment centres or warehouse term, we should all look at the the long term and across the including luxury goods such mostly for inventories and fulfillment cen- SHELF LIFE for any of the group’s business, including its opportunities, especially the last months is that collectors as wine, watches, jewellery tres, or perhaps smaller physical stores as -plus mainstay e-commerce. accelerated digital innovation. want to collect. and handbags, Picasso against large 50,000-sq ft or more area to 29 28 45 As we have had to adapt ceramics, prints and multiples Walmart Metro Reliance Market play around with earlier. Now, for small stores: Germany’s Metro, What have been the challenges and disrupt the traditional and photographs. However, Also, the boundaries are disappear- Source: Companies meanwhile, has started following an omni- and opportunities for major sales calendar and the the most significant shift ing between B2B and B2C, e-commerce channel strategy. With 28 stores in its kitty, auction houses such as Chri- “rhythm” of the art market, came over the lockdown and traditional cash and carry, prompt- ALL-INDIA RETAIL PIE it’s moving in a newer direction. Managing stie’s in this exceptional time? it is very hard to be sure when we began to offer ing businesses to take a leap. The shift $700 billion (including wholesale) Director and Chief Executive Arvind Online has been a huge until the end of the year. higher-value art online. was being planned, but the pandemic Growing at 7-8% Mediratta told Business Standard that it’s support and allowed us, along We have done much to Previously it was felt hastened the process. the customers who are deciding whether to with private sales, to continue mitigate against a short- clients need to see the Share of traditional buy offline or online. The hybrid behaviour the business remotely. But fall by scaling online works in person, but even The journey: The start of modern whole- retail/kirana: 85-87% is picking up, but online is still an incre- then online has been an auctions and using the on high-value lots, sale in India was iffy but gradually the busi- Modern food and grocery: 7% mental business compared with store pur- important contributor to our lockdown period to pictures and sculpture, ness began drawing eyeballs and footfalls, chases, he said. “We are getting 15 to 20 per business since sales started push private sales. the data allowed us to have too. It was 2007 when Walmart entered E-commerce: 5-7% cent extra business because of online,” he online in 2011. The game It is also true that confidence to offer higher India in a tie-up with Sunil Mittal-led Bharti pointed out, adding that’s not bad at all. changer is the digital progress different regions were value objects online. Group. While waiting for India to relax the METROS In % Even so, Mediratta describes online whole- made over this very short affected at different Compared to 2019, the multi-brand rules so that it could open its Traditional/kiranas 80 sale as a “top-up tool for kiranas”. The num- period of time (augmented times. This will all help, number of new buyers in big box stores, the $524-billion Bentonville- Modern retail 12 ber of baskets or articles in a physical trans- reality / enhanced photo- but we are expecting to be online sales is up 69 per cent based group decided to set up a wholesale action by a retailer/kirana is at least double graphy / viewing rooms /360- down around 30 per cent by (globally), with growth from business instead, surprising industry E-commerce 8-9 the online buy. Currently, the average basket degree imagery for sculpture / auction channel sales by year all three regions: the watchers as that was not exactly what the Source: Industry estimates value is around ~10,000 to ~20,000 in online videos / artists interviews end, as a result of the Americas, EMEA (Europe, US retailer was known for. The idea was to transactions at Metro, Mediratta said. etcetera). This has been necessary pause in live sales Middle East/West Asia, supply to its joint venture partner Bharti’s What changed: Cut to 2020 and wholesale The Metro India chief also pointed at a embraced by the majority of during our first half. We have Africa) and Asia Pacific. retail stores till it could fulfil its original business has lost its punch though the shift to smaller towns. Usually focused on our clients, across all age adapted the business and So far this year, we have plan of becoming a B2C operator. The 50-50 industry insists that it has not lost its rele- big cities, Metro recently opened up in groups. Covid-19 has been a savings in print materials held 91 more sales online Bharti-Walmart venture launched its first vance. For example, Best Price — Walmart’s Tumkur (renamed Tumakuru), an indus- catalyst here and has really have also been re-invested in than in 2019. cash-and-carry store in India in 2009. cash-and-carry chain of 29 stores — is now trial town in Karnataka. As for real estate, Germany’s Metro Cash and Carry was integrated with Flipkart Wholesale, a new the idea is to spend less on retail including already in India since 2003 with a cash- digital B2B marketplace. This is part of the wholesale, analysts said. Mediratta agreed and-carry model, but the group started merger exercise after Walmart acquired a that his company would go for smaller competing aggressively after Walmart’s majority in Bengaluru-based Flipkart in stores from now on — maybe 20,000-sq ft entry. French major Carrefour, too, 2018 at around $16 billion. The integration or so against 40,000 to 50,000-sq ft earlier. picked up a slice of this business, though provides an opportunity to leverage If foreign majors are low key on the keeping its multi-brand retail ambition Flipkart’s expertise, technology, knowledge expansion of physical stores — at least the intact like Walmart.