Transport Corporation of India Ltd. (TCI), one of India’s leading integrated multimodal logistics and supply chain solutions provider, has announced its financial results for the first quarter ended June 30, 2026. The company delivered steady revenue growth while maintaining operational resilience despite higher fuel costs and sector-specific challenges.

TCI Posts Healthy Revenue Growth in Q1 FY2027

TCI reported a consolidated revenue of ₹12,548 million, registering a 9.1% year-on-year growth compared with ₹11,506 million in the corresponding quarter of FY2026. The company’s EBITDA increased 5.2% to ₹1,599 million, up from ₹1,520 million in the same quarter last year, reflecting continued operational efficiency. Meanwhile, Profit After Tax (PAT) stood at ₹1,066 million, marginally lower by 0.6% compared to ₹1,072 million recorded in Q1 FY2026.

Diversified Business Model Supports Stable Performance

Vineet Agarwal, Managing Director, Transport Corporation of India Ltd., said the company delivered a steady first-quarter performance, with revenue and profitability largely meeting expectations. He noted that strong demand from the automotive, consumer goods and quick-commerce fulfilment segments continued to drive business growth. However, sectors such as chemicals, tiles and packaging experienced the impact of ongoing geopolitical tensions, affecting freight movement during the quarter. Despite these challenges, TCI’s diversified multimodal logistics network and extensive pan-India branch presence enabled the company to maintain operational stability and ensure uninterrupted customer service.

Fuel Price Hike Creates Cost Pressure

During the quarter, rising diesel and bunker fuel prices exerted pressure on operating costs. Nevertheless, TCI successfully mitigated much of the impact through contractual fuel escalation mechanisms covering the majority of its long-term business. The company also reported only a temporary lag in recovering fuel costs from spot market operations and reaffirmed its focus on maintaining margin discipline, improving asset utilisation and ensuring efficient cost pass-through across its logistics network.

AI and Technology Investments to Drive Future Growth

As per the press release, TCI remains optimistic about business prospects as demand is expected to strengthen during the upcoming festive season, supported by improving market sentiment and higher consumer spending. In addition, the company is accelerating investments in digital technologies and artificial intelligence (AI) to enhance demand forecasting, route optimisation and process automation. These initiatives are expected to improve service quality, increase operational efficiency, reduce costs and strengthen the company’s sustainability efforts.

Outlook Remains Positive

With a diversified multimodal logistics portfolio, a robust nationwide network and continued investments in technology-driven operations, TCI believes it is well-positioned to capitalise on emerging opportunities in India’s rapidly evolving logistics and supply chain sector while delivering sustainable long-term growth.

L&T Energy Hydrocarbon Onshore bagged a six-year Engineering, Procurement and Construction (EPC) Framework Agreement with Petroleum Development Oman (PDO), one of Oman’s leading oil and gas companies. The agreement further strengthens the long-standing partnership between the two organisations while reinforcing L&T’s presence in the Middle East energy sector. Under the framework agreement, L&T has been selected as one of four EPC contractors eligible to participate in PDO’s upcoming Front-End Engineering Design (FEED) and EPC projects during the six-year contract period. The company will leverage its integrated engineering capabilities, global project execution expertise and innovative solutions to support PDO’s future infrastructure and energy development initiatives.

Strengthening Local Value Creation in Oman

In addition to delivering world-class engineering solutions, L&T reaffirmed its commitment to supporting In-Country Value (ICV) development in Oman. The company will continue creating opportunities for local suppliers, subcontractors and service providers while investing in the development of local talent and technical capabilities. This approach aligns with Oman’s broader objective of promoting sustainable industrial growth and enhancing domestic participation in major energy projects.

L&T Highlights Long-Standing Partnership with PDO

E. S. Sathyanarayanan, Senior Vice President and Head of L&T Energy Hydrocarbon Onshore, said the framework agreement represents another significant milestone in the company’s enduring relationship with PDO. He added that L&T looks forward to supporting PDO’s future development plans through safe, innovative and sustainable project execution while contributing to Oman’s long-term energy security and economic growth.

L&T’s Strong EPC Expertise

L&T Energy Hydrocarbon Onshore is among India’s leading EPC companies, offering integrated lump-sum turnkey solutions across the upstream, midstream and downstream hydrocarbon sectors. Over the years, the company has successfully executed large-scale refinery expansions, petrochemical complexes, gas processing facilities, LNG terminals, fertiliser plants and cross-country pipeline projects across international markets. As per the press release, its proven engineering expertise and execution capabilities continue to position L&T as a preferred partner for complex oil and gas infrastructure projects worldwide.

Thermax Ltd. reported a 7% year-on-year increase in consolidated operating revenue to ₹2,303 crore for the first quarter of FY27, while order booking rose 2% to ₹2,809 crore. However, profitability declined sharply due to a ₹91 crore cost overrun on a project in its Industrial Infra segment and lower export sales in the Industrial Products business.

Consolidated profit after tax (PAT) fell 85% to ₹22 crore, while profit before tax (PBT) declined 80% to ₹42 crore. The previous year’s quarter also benefited from ₹56 crore received under the Package Scheme of Incentives for a subsidiary.

The company’s order backlog grew 23% year-on-year to a record ₹14,045 crore as of June 30, 2026, reflecting healthy business momentum. During the quarter, Thermax secured a US data centre order worth over ₹400 crore for the supply of boiler pressure parts.

Growth was particularly strong in the Green Solutions segment, driven by improved order inflows at Thermax Onsite Energy Solutions Ltd. (TOESL) and a revised order-book reporting methodology based on a rolling 12-month forecast. The change increased the reported order book by ₹139 crore without affecting contracts, revenue recognition, or financial performance.

On a standalone basis, revenue increased 9% to ₹1,303 crore, compared with ₹1,195 crore a year earlier. However, the company reported a net loss of ₹18 crore, primarily due to the Industrial Infra project cost escalation. Standalone order booking declined 8% to ₹1,606 crore, while the order balance remained stable at ₹6,576 crore, up 2% year-on-year.

Despite the impact of one-time project costs, Thermax’s expanding order book, strong Green Solutions performance, and major international order wins underscore sustained demand for its energy transition and environmental solutions.

India has agreed to conduct a joint H2Global green hydrogen derivatives auction with Germany, with similar agreements expected to be signed with the Netherlands and Japan in the coming months, according to Sanjay Sharma, Director, Solar Energy Corporation of India (SECI), speaking at the Bharat Green Hydrogen Summit in New Delhi.

The move marks a significant step beyond the memorandum of understanding signed between SECI and Germany’s H2Global Stiftung in 2024, enabling Indian producers to participate in H2Global’s international auction mechanism. Under the model, long-term purchase contracts backed by government support provide developers with bankable offtake agreements while supplying green hydrogen derivatives to importing markets.

The initiative is expected to improve market access for Indian producers and strengthen exports to major hydrogen-importing economies, including Germany, the Netherlands and Japan.

Separately, Sharma said SECI’s domestic tender for 500,000 tonnes per annum of green hydrogen-based methanol is in the final stages of documentation and is expected to be finalised within the next two months.

Launched in May 2026 under the Strategic Interventions for Green Hydrogen Transition (SIGHT) programme, the tender offers 10-year competitive contracts for methanol produced using green hydrogen and captured carbon dioxide. SECI will procure the methanol and supply it to domestic industrial consumers.

The methanol tender follows SECI’s 739,000-tonne-per-year green ammonia procurement programme launched in 2024 under the National Green Hydrogen Mission, further reinforcing India’s efforts to develop a domestic green hydrogen economy while creating long-term demand for low-carbon fuels.

Researchers at the Massachusetts Institute of Technology (MIT) have uncovered why molybdenum-containing nitrogenase enzymes are more efficient at converting atmospheric nitrogen into ammonia—a breakthrough that could advance the development of low-energy ammonia production technologies.

Published in the journal Chem, the two studies show that while molybdenum does not directly bind nitrogen, it enhances the ability of nearby iron atoms to do so. This strengthens the crucial first step in breaking the strong nitrogen-nitrogen triple bond, enabling more efficient ammonia formation.

The researchers found that iron-sulfur clusters containing larger metals such as molybdenum or tungsten bind nitrogen more effectively than those containing smaller metals like vanadium, chromium, or iron.

A second study revealed that molybdenum improves electron sharing between metal atoms, allowing iron to transfer electrons more efficiently during nitrogen activation. This electronic cooperation lowers the energy required to initiate the reaction.

The findings provide new insights into biological nitrogen fixation and could help scientists engineer more efficient enzymes or design synthetic catalysts for ammonia production. Such technologies have the potential to reduce reliance on the energy-intensive Haber-Bosch process, which is currently used to manufacture most of the world’s ammonia for fertilisers.

The research was led by Daniel Suess, Associate Professor of Chemistry at MIT, and was supported by the U.S. Department of Energy, the National Science Foundation, and the National Institute of General Medical Sciences.

BASF SE has approved a share buyback programme of up to €1 billion, scheduled to commence in August 2026 and conclude by April 2027, as part of its previously announced €4 billion share repurchase plan through 2028.

Approved by the Board of Executive Directors on July 29, 2026, the programme is based on shareholder authorization granted at the company’s Annual General Meeting on April 30, 2026. Repurchased shares will be cancelled, reducing BASF’s share capital.

The buyback forms part of BASF’s “Winning Ways” strategy, under which the company aims to return at least €12 billion to shareholders between 2025 and 2028 through dividends and share repurchases. The plan includes annual dividends of at least €2.25 per share, amounting to around €8 billion, alongside €4 billion in share buybacks.

Between November 2025 and June 2026, BASF repurchased shares worth approximately €1.5 billion and will cancel 31.6 million shares, representing about 3.5% of its share capital.

The company said the buyback will enhance shareholder returns, optimise its capital structure, and improve earnings per share.

In addition, BASF plans to strengthen its balance sheet by significantly reducing net debt. The company will repay €1.6 billion in bonds and loans ahead of maturity during the third quarter of 2026 and continues to target a single-A credit rating, supported by stable ratings from Fitch (A/F1), Moody’s (A3/P-2) and S&P Global (A-/A-2).

India is accelerating efforts to strengthen fertiliser self-reliance through higher domestic production, diversified imports, and improved supply chain monitoring to safeguard food security amid volatile global markets.

Since 2014-15, the country has commissioned six new urea plants, adding 76.2 lakh metric tonnes per annum (LMTPA) of production capacity and increasing total installed urea capacity from 207.54 LMTPA to 269.42 LMTPA in 2026-27. On July 15, 2026, the Cabinet Committee on Economic Affairs approved the National Investment Policy for Urea-2026 (NIPU-2026) to encourage further investment and boost domestic production.

To ensure uninterrupted supplies, India procured 25 lakh metric tonnes (LMT) of urea through global tenders in April 2026, followed by 17.7 LMT in June, while also directing Indian missions overseas to identify new fertiliser suppliers.

The six new facilities include Ramagundam Fertilizers and Chemicals Ltd. (RFCL), three Hindustan Urvarak and Rasayan Ltd. (HURL) plants at Gorakhpur, Sindri and Barauni, Matix Fertilizers and Chemicals Ltd., and Chambal Fertilizers and Chemicals Ltd., each with an annual capacity of 12.7 LMTPA.

Backed by the New Urea Policy (NUP)-2015, domestic urea production increased from 225 LMT in 2014-15 to a record 314.07 LMT in 2023-24, before reaching 293.30 LMT in 2025-26, significantly reducing import dependence.

The government is also developing two additional 12.7 LMTPA urea projects at Talcher Fertilizers Ltd., based on coal gasification technology, and Assam Valley Fertilizer and Chemical Company Ltd. (AVFCCL). Together, they will add another 25.4 LMTPA of production capacity.

To improve fertiliser availability, the government monitors distribution through the Integrated Fertilizer Management System (iFMS), supported by monthly allocation plans and regular coordination with state governments.

For phosphatic and potassic (P&K) fertilisers, the government has approved ₹41,533.81 crore under the Nutrient Based Subsidy (NBS) scheme for the Kharif 2026 season while introducing measures to encourage domestic phosphatic fertiliser production.

The government’s integrated strategy of expanding production capacity, diversifying imports, and strengthening distribution reflects its long-term focus on reducing import dependence and ensuring fertiliser security for the country’s agricultural sector.

India is rapidly building a domestic battery chemicals ecosystem as demand for advanced chemistry cells (ACC) accelerates, according to a report by Nuvama.

The brokerage expects India’s ACC demand to surge from 40 gwh in 2025 to around 700 gwh by 2030, registering a 39% CAGR, followed by a 27% CAGR between 2030 and 2035. Electric vehicle (EV) batteries are projected to grow at an annual rate of 35%, while battery energy storage systems (BESS) will be the fastest-growing segment with a 78% CAGR during 2025-30.

To support this growth, the government’s ₹18,100 crore Production Linked Incentive (PLI) scheme aims to establish 50 gwh of domestic cell manufacturing capacity. Additionally, more than 10 manufacturers have announced plans to set up nearly 178 gwh of battery manufacturing capacity, boosting demand for battery chemicals and materials.

The report also highlighted the role of the National Critical Mineral Mission in strengthening domestic exploration, processing, and recycling of key minerals such as lithium, nickel, cobalt, and graphite.

Nuvama expects lithium iron phosphate (LFP) batteries to remain the dominant chemistry globally due to their lower cost, enhanced safety, and longer life. This trend is likely to drive demand for iron phosphate, graphite, conductive carbon black, carbon nanotubes, and electrolytes, while moderating long-term cobalt demand.

Although India continues to rely on imports for critical minerals, domestic production of cathode and anode materials, electrolytes, conductive additives, and battery cells is expanding. Emerging technologies, including silicon-carbon anodes, LMFP, sodium-ion, and solid-state batteries, are also expected to create new growth opportunities.

According to Nuvama, rising EV adoption, renewable energy expansion, and energy storage investments position India’s battery materials industry for sustained long-term growth.

Evonik and China’s Fuhua have commenced operations at a 200-kiloton-per-year hydrogen peroxide (H₂O₂) plant in Leshan, Sichuan Province, marking the launch of one of the region’s largest industrial-grade hydrogen peroxide facilities.

Production began on June 18, 2026, with the plant achieving on-specification output within days. The facility will supply industrial-grade H₂O₂ to the Chinese merchant market and provide feedstock to the Evonik Fuhua New Materials joint venture, where it will be purified into specialty grades for applications including electronics manufacturing and food safety.

The project was completed just 2.5 years after Evonik and Fuhua signed the licensing agreement in November 2023. Evonik provided its proprietary hydrogen peroxide technology, key process equipment, catalysts, and technical support throughout engineering, construction, commissioning, and startup.

“The successful startup demonstrates our ability to support customers across the entire project lifecycle, from licensing to commercial production,” said Michael Träxler, Head of Evonik’s Active Oxygens business line.

Fuhua Chairman Zhang Hua said the project highlights the successful partnership between the two companies, combining Fuhua’s local expertise with Evonik’s technology to meet China’s growing hydrogen peroxide demand and support future growth.

Seosaph has launched PortiVix, the next-generation version of its Pharma Project & Portfolio Management (PPM) platform, as part of the debut of VirtuNx, the company’s dedicated enterprise product organization. Evolved from Seosaph’s flagship SEOPRO platform, PortiVix is designed to help pharmaceutical companies manage increasingly complex R&D pipelines, regulatory requirements, and portfolio priorities through a unified platform for project execution, portfolio oversight, governance, strategic prioritization, and decision intelligence.

Built for Complex Pharma R&D and Portfolio Management

Already adopted by leading pharmaceutical organizations, the platform has been developed through continuous customer collaboration and industry-driven innovation.

“PortiVix reflects our long-term vision of helping pharmaceutical organizations navigate increasing complexity with greater intelligence, confidence, and agility,” said Nagarajan Selvaraj, CEO of Seosaph.

Industry Collaboration Drives Platform Innovation

According to Phanindra Venkata, CEO of VirtuNx and Business Head at Seosaph, PortiVix goes beyond conventional project management by enabling organizations to make better portfolio decisions through a connected ecosystem.

Purpose-built for the pharmaceutical industry, the platform enhances visibility across projects, resources, governance, and strategic priorities, enabling informed decision-making throughout the portfolio lifecycle.

AI-Powered Decision Intelligence for Regulated Industries

Seosaph said the launch reinforces its commitment to delivering AI-driven enterprise solutions that help regulated industries transform operational complexity into data-driven business decisions. For more information, visit www.PortiVix.com.