Saturday, December 20, 2025
Home Blog Page 216

Delhivery net profit surges to INR 10.2 Cr, revenue sees 8.1% jump in Q2 

By
Ashutosh Dubey
-
0
Image of delhivery
Delhivery net profit surges to INR 10.2 Cr, revenue sees 8.1% jump in Q2 

Delhivery, a leading logistics company, reported a consolidated net profit of INR 10.2 crore in the September quarter of FY25, marking its second consecutive profitable quarter. This significant turnaround comes after the company posted a loss of INR 102.9 crore in the same quarter last year.

Delhivery registers 13% rise of revenue from services

Notably, the e-commerce company’s revenue from services jumped 13% to INR 2,189.7 crore, driven by healthy growth in express parcel (7% YoY) and part truckload (27% YoY) revenue. Total revenue, including other income, rose 8.1% to INR 2,309.3 crore.

Continue Exploring: FMCG growth sluggish due to rising housing cost and lower wage in urban areas – Britannia 

Meanwhile, the company also reported an EBITDA of INR 57 crore, a significant improvement from the INR 16 crore loss in Q2 FY24. Managing Director and CEO Sahil Barua stated, “The stable volume performance during Q2 FY25, along with the planned seasonal capacity additions we undertook towards the end of the quarter, set us up well for the festive season.”

Daily volume is 25% higher than pre-festive time – CEO Delhivery

Further, Barua added, “We saw a significant increase in Express volumes in October, with daily average volumes being about 25% higher than the pre-festive sale period.” This growth momentum is expected to continue, driven by the company’s expanded capacity and strategic initiatives.

Continue Exploring: KFC launches new campaign ‘Taste the Epic’ targeting the GenZs

As the logistics industry continues to evolve, Delhivery’s focus on efficiency and customer satisfaction will likely remain key drivers of its success.

Advertisement

FMCG growth sluggish due to rising housing cost and lower wage in urban areas – Britannia 

By
Ashutosh Dubey
-
0
Image of varun berry
FMCG growth sluggish due to rising housing cost and lower wage in urban areas - Britannia 

Britannia Industries‘ executive vice-chairman, Varun Berry, revealed that metropolitan cities hindered the fast-moving consumer goods (FMCG) market growth in the previous quarter.

Housing cost is 22% of CPI – Varun Berry, executive Britannia

Rising housing costs and lower wage growth affected consumer spending, particularly in urban areas. According to ET, Berry stated, “The housing cost in urban and especially in metro areas is about 22% of the total consumer price index (CPI) basket rate… and that’s creating stress for most consumers in large cities and metros.”

Continue Exploring: Agri-startup Fresh From Farm to distribute private-label fruits, eyes INR 100 Cr revenue

Further, Berry noted that non-salaried workers saw a mere 3.4% increase in earnings, while salaried classes experienced a 6.5% rise. “There’s stress in almost 51% of the workforce sitting in urban areas. That is the double whammy, which is creating a demand shortfall as far as urban and especially metro is concerned.”

Britannia registers 5% revenue, 8% volume growth in Q2

Despite this, Britannia reported a 5% revenue growth and 8% volume growth for the quarter ended September. To offset rising input costs, the company plans to increase prices by 4-5% in the next two quarters. Berry emphasised, “We are not operators who look at a quarter to quarter… We want to have a robust solid business in the long term. So, if we feel that the volume is under stress and we need to be a little careful about our price increase, we will do that.”

Continue Exploring: Mamaearth’s parent company Honasa registers loss of INR 18.57 Cr, revenue declines 6.9%

Meanwhile, Unilever‘s global CEO, Hein Schumacher, echoed similar sentiments, stating, “India’s consumption is mimicking global trends… consumer confidence is back, but wages have been behind the rate of inflation, resulting in lower savings.” Schumacher added, “The aspiration level is going up, and that has consequences… on where people spend their money.”

Following Britannia’s comment, industry experts attribute the urban demand slowdown to the impact on daily wage earners and gig-workers. A large food company executive noted, “Urban poor… have been impacted the most over the past few quarters… And these consumers have been buying mass products like biscuits and snacks.” The executive also cited the normalisation of packaged food growth post-Covid-19 as a contributing factor.

Advertisement

Agri-startup Fresh From Farm to distribute private-label fruits, eyes INR 100 Cr revenue

By
Shweta
-
0
Image of fresh from farm
Agri-startup Fresh From Farm to distribute private-label fruits, eyes INR 100 Cr revenue

New Delhi-based agri-startup Fresh From Farm (F3) has announced its private-label branded fruits in the Delhi NCR region.

F3 to contribute 20% of revenue to achieve ARR

The branded fruit line, expected to contribute 20% of overall revenue, will help F3 achieve INR 100 crore annual recurring revenue (ARR) by next quarter. Meanwhile, F3’s branded offerings include Ace Apples, Bliss Berries, Queen Kiwi, Mighty Melons, and Bright Banana, available across 500+ vendor partners in Delhi NCR.

Continue Exploring: Blackstone to acquire 20% stake in Haldiram’s snacks for $8 Bn

Founder Rohit Nagdewani stated, “We are on a mission to create trust and ease in the experience of buying fresh fruit. By introducing branded options, we hope to provide consumers with a reliable standard that removes the guesswork so they can confidently pick up pre-graded, quality-assured fruit.”

F3 aims to partner with quick commerce platforms

Notably, F3 aims to make branded fruits more accessible through partnerships with quick commerce platforms. Founded in 2021, F3 is a business-to-business-to-consumer (B2B2C) fresh fruits demand consolidation platform. The company delivers fruits directly from farm to retail at competitive prices.

Continue Exploring: Indri single malt maker Piccadily Agro to invest INR 1000 Cr for expansion, capacity building

Further, Nagdewani’s vision is to revolutionise the fresh fruit market by ensuring quality and consistency. With its branded offerings, F3 seeks to eliminate the uncertainty associated with buying fresh produce. By streamlining the supply chain, F3 provides consumers with fresh, high-quality fruits while supporting farmers and local vendors.

As F3 expands its operations, its focus on quality, accessibility, and affordability is poised to disrupt the traditional fruit market. With its innovative approach, F3 is well-positioned to achieve significant growth and become a leading player in India’s agri-startup ecosystem.

Advertisement

Mamaearth’s parent company Honasa registers loss of INR 18.57 Cr, revenue declines 6.9%

By
Ashutosh Dubey
-
0
Image of mamaearth
Mamaearth’s parent company Honasa registers loss of INR 18.57 Cr, revenue declines 6.9%

Honasa Consumer Ltd, the parent company of popular FMCG brands Mamaearth and The Derma Co, reported a consolidated loss of INR 18.57 crore for the second quarter ended September 30, 2024. 

This contrasts with the INR 29.43 crore profit recorded in the same period last year.

Mamaearth’s adjusted revenue stands at INR 525 Cr

The company’s revenue from operations declined 6.9% to INR 461.82 crore, down from INR 496.02 crore in the year-ago period. However, Honasa Consumer clarified that adjusted revenue, considering inventory correction, stood at INR 525 crore, reflecting 5.7% growth.

Continue Exploring: Indri single malt maker Piccadily Agro to invest INR 1000 Cr for expansion, capacity building

Meanwhile, Varun Alagh, Chairman and CEO of Honasa Consumer, stated, “Over the past few months, we have been working to optimise our distribution model. In this quarter, we have taken strategic steps towards transitioning from super-stockists to direct distributors in the top 50 cities.”

Despite the short-term setback, Alagh expressed optimism about the long-term benefits of the distribution model realignment. “This realignment will also strengthen our offline go-to-market strategy in the quarters ahead, setting the stage for our next phase of growth,” he said.

Mamaearth expenses surges to INR 506 Cr 

Notably, the company’s total expenses increased 9.1% to INR 506.21 crore, while total income declined 4.24% to INR 481.84 crore. Honasa Consumer’s EBITDA margin dropped to 6.6%, but adjusted EBITDA margin for inventory correction stood at 4.1%.

Continue Exploring: Del Monte Foods merges with Agro tech Foods in INR 1,300 Cr deal

Moving forward, the company’s efforts to revamp its distribution strategy aim to enhance its offline presence and drive future growth. Despite temporary challenges, Honasa Consumer remains committed to expanding its FMCG portfolio and strengthening its market position through strategic initiatives.

Advertisement

Blackstone to acquire 20% stake in Haldiram’s snacks for $8 Bn

By
Ashutosh Dubey
-
0
Image of haldiram's
Blackstone to acquire 20% stake in Haldiram’s snacks for $8 Bn

Blackstone has revised its plans to acquire a stake in Haldiram’s snacks business, dropping its initial bid for a 75% stake. The private equity firm is now in talks to purchase a 20% stake, valued at $8 billion, but disagreements over valuation remain.

Haldiram’s snacks seeks valuation of $12 Bn 

Haldiram’s, India’s leading savoury snack brand with a 13% market share, has sparked interest from foreign investors. According to sources, Blackstone is keen to close the transaction, with one stating to Reuters, “Blackstone is keen to close the transaction as a lot of effort has gone into it.”

Continue Exploring: Del Monte Foods merges with Agro tech Foods in INR 1,300 Cr deal

However, Haldiram’s seeks a valuation of $12 billion, significantly higher than Blackstone’s offer. The company’s reluctance to sell a majority stake led to the revised proposal. Other investors, including Bain Capital, Temasek, and Abu Dhabi Investment Authority (ADIA), are also vying for a minority stake.

Tata Group in talks to acquire Haldiram in $10 Bn in 2023

Last year, Tata Group was in talks to acquire a majority stake in Haldiram’s entire snacks and restaurants business, seeking a valuation of $10 billion. However, those discussions ended without a deal.

Founded in 1937, Haldiram’s has grown from a small shop in Bikaner, Rajasthan, to a popular brand with over 150 restaurants. Its iconic “bhujia” snack, sold for as little as 10 rupees, remains a favourite among Indians.

Continue Exploring: Kalyan Jewellers reports 3.3% decline in Q2 net profit to INR 130.32 Cr

If successful, the revised deal would mark a significant investment in India’s snack market. Blackstone’s willingness to adapt its proposal demonstrates its interest in partnering with Haldiram’s. The outcome of these negotiations will be closely watched, given the brand’s dominance in India’s $6.2 billion savoury snack market.

As one of the sources noted, the valuation gap remains a sticking point. Whether Haldiram’s and Blackstone can reach mutually agreeable terms remains to be seen.

Advertisement

Indri single malt maker Piccadily Agro to invest INR 1000 Cr for expansion, capacity building

By
Ashutosh Dubey
-
0
image of piccadily agro
Indri single malt maker Piccadily Agro to invest INR 1000 Cr for expansion, capacity building

Piccadily Agro, the producer of Indri single malt and Camikara rum, has announced a INR 1,000 crore investment plan to expand its operations.

Piccadilly Agro to set up distillery in Scotland

The company will upgrade its distillery and malt facilities in Indri, Haryana, establish a new plant in Mahasamund, Chhattisgarh, and set up its first global distillery in Portavadie, Scotland.

Continue Exploring: Magicpin cuts platform fee to INR 5 as Zomato, Swiggy raise charges

According to ET Retail, Siddhartha Sharma, Promoter, Piccadily Agro stated, “We are entering a transformative phase in our growth journey. This expansion is not just about scaling up our operations; it’s about reshaping the future of premium Indian alco-bev spirits on a global stage.” He added, “Our expansion across India and Scotland demonstrates our ambition to redefine the global spirits industry while solidifying India’s position as a producer of high-quality, premium alcohol.”

Notably, the expansion will increase Piccadily’s production capacity to 460 kilo litres per day (KLPD), including 60 KLPD of malt spirits. The company has already raised INR 262 crores through preferential allotment and an additional INR 50 crores from its promoters. The remaining funding will come from internal accruals and debt.

Indri plant expansion expects to be done in 2025

However, the Indri plant expansion, including malt and ethanol production, is expected to be completed by early 2025. The company is also building a state-of-the-art visitor centre for whisky tourists and connoisseurs. In Scotland, Piccadily will establish a 58-acre global distillery, making it the first Indian alcobev company to do so.

Continue Exploring: Physics Wallah appoints Amit Sachdeva from Blinkit as CFO ahead of IPO

This strategic move positions Piccadily as a prominent player among Indian distillers on the global stage, producing exceptional Scotch-style malts and reinforcing India’s growing influence in the premium whisky industry. The expansion comes as the spirits industry witnesses growing demand for premium craft offerings within India and for Indian spirits globally.

Further, Piccadily reported a 63.45% year-over-year revenue growth and a 74.45% EBITDA growth in the second quarter ended September. The company aims to complete the expansions within the next 24 months, solidifying its position in the premium spirits industry. With this investment, Piccadily Agro is poised to reshape the future of Indian alcobev spirits on a global scale.

Advertisement

Del Monte Foods merges with Agro tech Foods in INR 1,300 Cr deal

By
Ashutosh Dubey
-
0
Image of del monte
Del Monte Foods merges with Agro tech Foods in INR 1,300 Cr deal

Agro Tech Foods Limited (ATFL), backed by Samara Capital and Convergent Finance, has acquired Del Monte Foods Private Limited (DMFPL) in a INR 1,300 crore deal. 

DMFPL, a joint venture between Bharti Group and Del Monte Pacific Limited, operates in India’s packaged food and edible oils sectors.

AFTL gains licence over Del Monte in India

With this acquisition, ATFL gains an exclusive licence for the Del Monte brand in India and expands its portfolio with established products like juice, olive oil, pasta, mayonnaise, ketchup, and canned fruits. ATFL, known for ACT II popcorn and Sundrop edible oil, will rebrand as Sundrop Brands, ET reported.

Continue Exploring: CCI to move SC over competition law violations by Amazon, Flipkart

Meanwhile, Asheesh Kumar Sharma, CEO and Executive Director, ATFL, stated, “We intend to deliver maximum value to all stakeholders through our mission of creating innovative and convenient food solutions for the modern consumer.”

Further, Harjeet Kohli, Joint Managing Director of Bharti Enterprises, added, “Leveraging significant synergies on the back of a profitable business model, this transaction is set to bolster the scale and margin profile of the platform, potentially accelerating shareholder returns and offering a more diverse portfolio of products.”

Nitish Bajaj from Piramal joins as MD in AFTL

The acquisition grants ATFL access to Del Monte’s manufacturing and R&D facilities in Hosur and Ludhiana. Nitish Bajaj, with experience at Piramal, CEAT Tyres, Reckitt Benckiser, Ranbaxy Global Consumer Healthcare, and Heinz India, joins as Group Managing Director.

Continue Exploring: FMCG giant P&G surpasses $2 Billion sales in India, growth rate slows by half

This strategic move strengthens ATFL’s position in the Indian food market, enhancing its capabilities and product offerings. Bharti Group and Del Monte Pacific will receive ATFL shares, becoming public shareholders post-transaction.

Advertisement

Kalyan Jewellers reports 3.3% decline in Q2 net profit to INR 130.32 Cr

By
Ashutosh Dubey
-
0
Image of kalyan jewellers
Kalyan Jewellers reports 3.3% decline in Q2 net profit to INR 130.32 Cr

Kalyan Jewellers India has posted a 3.3% decline in consolidated net profit to INR 130.32 crore for the second quarter (Q2) ended September 2024. The decline is attributed to the reduction in customs duty in India during the period.

Kalyan Jewellers registers 37% surge in operational revenue

According to a regulatory filing, the company’s net profit stood at INR 134.87 crore in the same period last year. However, revenue from operations surged 37.3% to INR 6,065.48 crore in Q2 FY25, compared to INR 4,414.53 crore in Q2 FY24.

Continue Exploring: Luxury goods sales to decline 2% in 2024: Bain & Company report

Total expenses also increased to INR 5,913.53 crore in Q2 FY25, from INR 4,249.52 crore in Q2 FY24. The company’s e-commerce division, Candere, reported revenue of INR 80 crore in H1 FY25, up from INR 66 crore in H1 FY24.

Meanwhile, Ramesh Kalyanaraman, executive director of Kalyan Jewellers, expressed optimism about the company’s performance. “We are extremely excited with the way the current year has progressed thus far, despite volatile gold prices and the ongoing quarter is also witnessing robust footfalls.”

Recorded same-store sales growth (SSSG) in excess of 20% – Director Kalyan

Further he added, “We recorded same-store sales growth (SSSG) in excess of 20% for the Diwali minus 30 days period when compared to the base year. We are upbeat about the ongoing wedding season across the country and hope to end the calendar year on a very strong note.”

Continue Exploring: Wrangler expands presence in India with six new stores, targets 60 in 2025

Notably, Kalyan Jewellers’ Q2 performance reflects the company’s resilience amidst challenging market conditions. The jewellery retailer’s focus on expanding its customer base and improving operational efficiency is expected to drive growth in the coming quarters.

The company’s shares will likely be watched closely by investors, given its robust revenue growth and positive outlook for the ongoing wedding season.

Advertisement

Physics Wallah appoints Amit Sachdeva from Blinkit as CFO ahead of IPO

By
Ashutosh Dubey
-
0
Image of Amit Sachdeva
Physics Wallah appoints Amit Sachdeva from Blinkit as CFO ahead of IPO

Physics Wallah, an edtech unicorn, has strengthened its leadership team by appointing Amit Sachdeva, former Blinkit executive, as its new Chief Finance Officer (CFO). Sachdeva will lead strategic and financial initiatives, enhancing financial oversight and sustainable growth.

Thankful to Alakh Sir and Prateek Sir for the opportunity – Sachdeva

“Joining Physics Wallah is a great opportunity to support an organisation seeking to make education accessible to many. I’m thankful to Alakh Sir and Prateek Sir for this opportunity and PW’s objective to broaden educational access,” said Sachdeva.

Continue Exploring: Bhartia Family, Goldman Sachs in talks for 40% stake in Hindustan Coca-Cola Beverages

Further, Alakh Pandey, CEO of Physics Wallah, welcomed Sachdeva, stating, “Amit’s experience in financial leadership and focus on robust corporate governance will be invaluable as we continue to grow and broaden our educational impact. His approach to finance as a transformative tool aligns with PW’s goals.”

Physics Wallah aims to release IPO in 2025

Sachdeva brings over two decades of experience, having worked with companies like IGT Solutions and Wipro. His appointment comes as Physics Wallah prepares for its initial public offering (IPO) next year, aiming to raise $400-500 million.

Continue Exploring: Amul sets course for Europe following successful US launch

Recently, Physics Wallah secured $210 million in funding, doubling its valuation to $2.8 billion. The company offers courses for K-12 students, test preparation, and UPSC coaching. Backed by investors like Lightspeed Ventures, Westbridge, and GSV Ventures, Physics Wallah reported a consolidated net loss of INR 1,131.2 crore in FY24, up 13.5 times from INR 84.06 crore in FY23. Revenue from operations jumped 2.6 times to INR 1,940.4 crore.

Advertisement

CCI to move SC over competition law violations by Amazon, Flipkart

By
Ashutosh Dubey
-
0
Image of amazon & flipkart
CCI to move SC over competition law violations by Amazon, Flipkart

India’s antitrust regulator, the Competition Commission of India (CCI), is considering taking its case against Amazon and Flipkart to the Supreme Court.

High Courts receive dozen writ petitions 

This move comes after multiple high courts, including those in Karnataka, Telangana, Madras, and Kolkata, received over a dozen writ petitions from sellers challenging the CCI’s investigation report. The report found that the ecommerce platforms gave preferential treatment to select sellers.

Continue Exploring: KFC launches new campaign ‘Taste the Epic’ targeting the GenZs

Narasimhan, an advocate at the Madras High Court, said the transfer petition would help address multiple queries from various parties in different courts. He noted, “The longer these cases drag, the small sellers and MSMEs who are dependent on the ecommerce ecosystem could be severely impacted.”

This development follows a report submitted in August by the CCI’s director general of investigation (DGI), which confirmed suspected violations of competition law by Amazon and Flipkart, particularly regarding preferential treatment and exclusive product launches. Appario Retail Private Ltd., once one of Amazon’s largest sellers, challenged these findings in the Karnataka High Court in September, alleging procedural violations by the DGI.

On September 27, the Karnataka High Court granted an interim stay on the CCI’s proceedings until November 20, after hearing three identical petitions from sellers.

Continue Exploring: Reliance Consumer to take over D2C snacking startup TagZ foods for INR 28 Cr

CCI claims, violating laws results 10% turnover to companies

The CCI’s findings indicate that Amazon and Flipkart violated competition laws by favouring select sellers on their platforms. The watchdog has sought financial statements from both companies to determine penalties, which could amount to up to 10% of their global annual turnover under the 2023 amendment to competition law.

This scrutiny comes amid growing regulatory attention towards ecommerce platforms in India. Last month, a Madras High Court lawyer wrote to the DPIIT Secretary, alleging that Flipkart was offering selective waivers at the product level, creating a “skewed and non-competitive environment.” In August, Union Minister Piyush Goyal criticised Amazon’s “predatory pricing policies,” expressing concerns over the rapid growth of ecommerce firms in India.

Additionally, the Ministry of Corporate Affairs has proposed a draft digital competition bill aimed at regulating major entities based on various factors, including turnover and user numbers, to address anti-competitive practices by big tech companies.

Advertisement
1...215216217...1,378Page 216 of 1,378