Thursday, December 18, 2025
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Amazon sees 35% sales growth in Tamil Nadu for premium products

By
M Haziq Pandit
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0
Amazon

Tamil Nadu has seen a 35 per cent year-on-year growth, driven by strong demand for premium products, according to a company official from Amazon. Customers͏͏ in͏͏ the͏͏ state͏͏ are͏͏ increasingly͏͏ interested͏͏ in͏͏ high-end͏͏ consumer͏͏ electronics,͏͏ including͏͏ smartphones͏͏ priced͏͏ above͏͏ INR͏͏ 30,000͏͏ and͏͏ INR͏͏ 1͏͏ lakh,͏͏ double-door͏͏ refrigerators,͏͏ and͏͏ action͏͏ cameras,͏͏ among͏͏ other͏͏ items.

EMI͏͏ Options͏͏ Boost͏͏ Consumer͏͏ Purchases:

The͏͏ option͏͏ to͏͏ repay͏͏ purchases͏͏ through͏͏ convenient͏͏ easy-monthly-installments͏͏ (EMIs)͏͏ has͏͏ also͏͏ contributed͏͏ to͏͏ Tamil͏͏ Nadu’s͏͏ rapid͏͏ 35͏͏ per͏͏ cent͏͏ growth͏͏ rate,͏͏ said͏͏ Ranjit͏͏ Babu,͏͏ Director͏͏ of͏͏ Consumer͏͏ Electronics͏͏ at͏͏ Amazon͏͏ India.

“This͏͏ year͏͏ began͏͏ on͏͏ a͏͏ positive͏͏ note,͏͏ with͏͏ double-digit͏͏ growth͏͏ across͏͏ segments.͏͏ More͏͏ customers͏͏ are͏͏ choosing͏͏ to͏͏ shop͏͏ online.͏͏ Tamil͏͏ Nadu͏͏ has͏͏ registered͏͏ the͏͏ fastest͏͏ growth͏͏ rate͏͏ at͏͏ 35͏͏ per͏͏ cent͏͏ year-on-year,͏͏ compared͏͏ to͏͏ the͏͏ industry’s͏͏ single-digit͏͏ growth,”͏͏ he͏͏ said.

Continue͏͏ Exploring:͏͏ Amazon’s͏͏ home,͏͏ kitchen,͏͏ and͏͏ outdoors͏͏ category͏͏ sees͏͏ 25-27%͏͏ CAGR͏͏ over͏͏ three͏͏ years

Tier͏͏ II͏͏ and͏͏ III͏͏ Towns͏͏ Fuel͏͏ Expansion:

Babu͏͏ also͏͏ noted͏͏ that͏͏ the͏͏ company͏͏ has͏͏ been͏͏ seeing͏͏ strong͏͏ sales͏͏ from͏͏ Tier͏͏ II͏͏ and͏͏ III͏͏ towns͏͏ in͏͏ Tamil͏͏ Nadu.͏͏ “For͏͏ instance,͏͏ places͏͏ like͏͏ Salem,͏͏ Madurai,͏͏ and͏͏ Tiruchirappalli͏͏ are͏͏ making͏͏ significant͏͏ contributions.͏͏ We͏͏ are͏͏ serving͏͏ hundreds͏͏ of͏͏ pin͏͏ codes͏͏ across͏͏ the͏͏ state,”͏͏ he͏͏ said.

Company͏͏ officials͏͏ stated͏͏ that͏͏ Amazon͏͏ has͏͏ approximately͏͏ 16͏͏ lakh͏͏ sellers͏͏ across͏͏ India,͏͏ with͏͏ 95,000͏͏ based͏͏ in͏͏ Tamil͏͏ Nadu.

Babu͏͏ stated͏͏ that͏͏ purchases͏͏ made͏͏ through͏͏ EMI͏͏ options,͏͏ including͏͏ Amazon’s͏͏ Pay͏͏ Later,͏͏ have͏͏ been͏͏ growing͏͏ by͏͏ 45-55͏͏ per͏͏ cent͏͏ across͏͏ various͏͏ product͏͏ categories.

“There͏͏ are͏͏ numerous͏͏ ways͏͏ for͏͏ customers͏͏ to͏͏ upgrade,͏͏ and͏͏ we’re͏͏ highly͏͏ optimistic͏͏ about͏͏ premiumisation͏͏ across͏͏ categories͏͏ in͏͏ Tamil͏͏ Nadu.͏͏ Both͏͏ Tamil͏͏ Nadu͏͏ and͏͏ Chennai͏͏ have͏͏ emerged͏͏ as͏͏ key͏͏ regions͏͏ for͏͏ the͏͏ consumer͏͏ electronics͏͏ category͏͏ on͏͏ Amazon.in,”͏͏ he͏͏ said.

Upcoming͏͏ “Great͏͏ Indian͏͏ Festival”

Babu͏͏ and͏͏ other͏͏ senior͏͏ officials͏͏ were͏͏ in͏͏ the͏͏ city͏͏ to͏͏ announce͏͏ the͏͏ 30-day͏͏ sale͏͏ event,͏͏ “The͏͏ Great͏͏ Indian͏͏ Festival,”͏͏ set͏͏ to͏͏ kick͏͏ off͏͏ on͏͏ their͏͏ portal͏͏ from͏͏ September͏͏ 27.

“There͏͏ will͏͏ be͏͏ numerous͏͏ new͏͏ product͏͏ launches͏͏ during͏͏ the͏͏ Great͏͏ Indian͏͏ Festival,”͏͏ he͏͏ said,͏͏ adding͏͏ that͏͏ the͏͏ e-commerce͏͏ platform͏͏ has͏͏ already͏͏ seen͏͏ increased͏͏ demand͏͏ for͏͏ air͏͏ conditioners,͏͏ refrigerators,͏͏ headphones,͏͏ PC͏͏ accessories,͏͏ and͏͏ smartwatches͏͏ ahead͏͏ of͏͏ the͏͏ festive͏͏ season.

He͏͏ mentioned͏͏ that͏͏ in͏͏ the͏͏ smartphone͏͏ category,͏͏ Apple͏͏ iPhone,͏͏ Samsung,͏͏ and͏͏ OnePlus͏͏ have͏͏ been͏͏ the͏͏ most͏͏ popular͏͏ brands,͏͏ while͏͏ Sony͏͏ and͏͏ LG͏͏ were͏͏ the͏͏ top͏͏ choices͏͏ for͏͏ customers͏͏ purchasing͏͏ smart͏͏ TVs.

Babu͏͏ stated͏͏ that͏͏ the͏͏ company͏͏ has͏͏ launched͏͏ a͏͏ ‘Phone͏͏ Setup͏͏ Service,’͏͏ allowing͏͏ customers͏͏ to͏͏ receive͏͏ assistance͏͏ from͏͏ an͏͏ Amazon-appointed͏͏ professional͏͏ for͏͏ setting͏͏ up͏͏ their͏͏ smartphones,͏͏ including͏͏ installing͏͏ preferred͏͏ apps,͏͏ linking͏͏ email͏͏ addresses,͏͏ and͏͏ more.

The͏͏ “Phone͏͏ Setup͏͏ Service”͏͏ will͏͏ be͏͏ available͏͏ to͏͏ customers͏͏ for͏͏ an͏͏ additional͏͏ cost͏͏ of͏͏ INR͏͏ 120.͏͏ He͏͏ mentioned͏͏ that͏͏ this͏͏ service͏͏ will͏͏ be͏͏ expanded͏͏ to͏͏ over͏͏ 300͏͏ cities͏͏ across͏͏ India.

Continue͏͏ Exploring:͏͏ Amazon India͏͏ unveils͏͏ AI͏͏ chatbot͏͏ Rufus͏͏ ahead͏͏ of͏͏ Great͏͏ Indian͏͏ Festival͏͏ sale

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DGGI issues notices to food and beverage companies over trademark usage, demands INR 3,000 Cr in GST payments

By
M Haziq Pandit
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0
food and beverage

The Directorate General of Goods and Services Tax Intelligence (DGGI) has issued show cause notices to over a dozen food and beverage companies regarding͏͏ trademark͏͏ usage͏͏ by͏͏ their͏͏ franchises͏͏ and͏͏ outlets͏͏ in͏͏ states͏͏ where͏͏ they͏͏ do͏͏ not͏͏ have͏͏ registered͏͏ offices,͏͏ according͏͏ to͏͏ informed͏͏ sources.

INR͏͏ 3,000͏͏ Crore͏͏ Demand:

The͏͏ notices,͏͏ issued͏͏ in͏͏ the͏͏ first͏͏ week͏͏ of͏͏ August,͏͏ demand͏͏ approximately͏͏ INR͏͏ 3,000͏͏ crore͏͏ from͏͏ the͏͏ companies͏͏ for͏͏ the͏͏ period͏͏ beginning͏͏ July͏͏ 2017,͏͏ when͏͏ GST͏͏ was͏͏ introduced.͏͏ The͏͏ DGGI͏͏ states͏͏ that͏͏ franchises͏͏ and͏͏ outlets͏͏ located͏͏ outside͏͏ the͏͏ companies’͏͏ home͏͏ states͏͏ are͏͏ registered͏͏ separately͏͏ and͏͏ are͏͏ thus͏͏ obligated͏͏ to͏͏ pay͏͏ GST͏͏ on͏͏ trademark͏͏ usage.͏͏ “Tax͏͏ must͏͏ be͏͏ paid͏͏ for͏͏ the͏͏ use͏͏ of͏͏ trademark͏͏ services,”͏͏ a͏͏ senior͏͏ official͏͏ stated.

Although͏͏ the͏͏ franchise͏͏ holders͏͏ and͏͏ vendors͏͏ were͏͏ paying͏͏ fees͏͏ to͏͏ the͏͏ companies͏͏ for͏͏ brand͏͏ usage,͏͏ they͏͏ were͏͏ not͏͏ paying͏͏ GST͏͏ on͏͏ those͏͏ fees.

Continue͏͏ Exploring:͏͏ Investor͏͏ appetite͏͏ grows͏͏ for͏͏ homegrown͏͏ food and beverage startups͏͏ as͏͏ demand͏͏ skyrockets

Tax͏͏ Authorities͏͏ Classify͏͏ Brand͏͏ Use͏͏ as͏͏ Taxable͏͏ Supply:

As͏͏ per͏͏ Schedule͏͏ 1,͏͏ Entry͏͏ 2͏͏ of͏͏ the͏͏ Central͏͏ GST͏͏ legislation,͏͏ the͏͏ supply͏͏ of͏͏ goods͏͏ or͏͏ services͏͏ between͏͏ distinct͏͏ persons͏͏ (different͏͏ registrations͏͏ of͏͏ a͏͏ legal͏͏ entity)͏͏ is͏͏ regarded͏͏ as͏͏ a͏͏ taxable͏͏ supply,͏͏ even͏͏ if͏͏ provided͏͏ at͏͏ no͏͏ charge.

This͏͏ has͏͏ prompted͏͏ tax͏͏ authorities͏͏ to͏͏ classify͏͏ the͏͏ use͏͏ of͏͏ a͏͏ brand͏͏ by͏͏ a͏͏ branch͏͏ office͏͏ or͏͏ franchise͏͏ holder͏͏ in͏͏ a͏͏ different͏͏ state͏͏ as͏͏ a͏͏ service͏͏ provided͏͏ by͏͏ the͏͏ head͏͏ office.

“If͏͏ this͏͏ interpretation͏͏ is͏͏ adopted,͏͏ it͏͏ would͏͏ place͏͏ a͏͏ significant͏͏ burden͏͏ on͏͏ businesses͏͏ operating͏͏ across͏͏ multiple͏͏ jurisdictions,”͏͏ said͏͏ Saurabh͏͏ Agarwal,͏͏ a͏͏ partner͏͏ at͏͏ professional͏͏ services͏͏ network͏͏ EY.

Agarwal͏͏ added͏͏ that͏͏ it͏͏ could͏͏ also͏͏ result͏͏ in͏͏ excessive͏͏ additional͏͏ tax͏͏ costs͏͏ for͏͏ businesses͏͏ where͏͏ full͏͏ input͏͏ tax͏͏ credit͏͏ is͏͏ not͏͏ available.

The͏͏ GST͏͏ rate͏͏ is͏͏ set͏͏ at͏͏ 5%͏͏ for͏͏ non-air-conditioned͏͏ restaurants͏͏ and͏͏ 18%͏͏ for͏͏ air-conditioned͏͏ ones.͏͏ Restaurants͏͏ serving͏͏ alcoholic͏͏ beverages͏͏ are͏͏ also͏͏ subject͏͏ to͏͏ an͏͏ 18%͏͏ GST.

Experts͏͏ suggest͏͏ that͏͏ this͏͏ development͏͏ could͏͏ heighten͏͏ tax͏͏ complexities͏͏ for͏͏ the͏͏ industry͏͏ and͏͏ increase͏͏ their͏͏ tax͏͏ burden.

“The͏͏ main͏͏ issue͏͏ is͏͏ the͏͏ lack͏͏ of͏͏ a͏͏ formal͏͏ contractual͏͏ relationship͏͏ with͏͏ a͏͏ registered͏͏ place͏͏ of͏͏ business͏͏ in͏͏ another͏͏ state͏͏ for͏͏ the͏͏ supply͏͏ of͏͏ a͏͏ trademark͏͏ to͏͏ a͏͏ distinct͏͏ entity.͏͏ Without͏͏ such͏͏ a͏͏ contractual͏͏ relationship,͏͏ the͏͏ activity͏͏ is͏͏ not͏͏ subject͏͏ to͏͏ GST,”͏͏ explained͏͏ Abhishek͏͏ A͏͏ Rastogi,͏͏ founder͏͏ of͏͏ Rastogi͏͏ Chambers.

He͏͏ stated͏͏ that͏͏ there͏͏ is͏͏ a͏͏ clear͏͏ distinction͏͏ between͏͏ using͏͏ a͏͏ logo͏͏ for͏͏ identification͏͏ purposes͏͏ and͏͏ its͏͏ commercial͏͏ use͏͏ under͏͏ trademark͏͏ law.

Continue͏͏ Exploring:͏͏ Food and Beverage industry͏͏ shifts͏͏ away͏͏ from͏͏ plastic͏͏ packaging:͏͏ Tetra͏͏ Pak͏͏ study͏͏ reveals͏͏ growing͏͏ commitment͏͏ to͏͏ sustainability

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New ‘enabler’ startups emerge as quick commerce gains traction

By
M Haziq Pandit
-
0
quick commerce

A new wave of ‘enabler’ startups is reshaping India’s fast-growing quick commerce (Qcomm) ecosystem. This transformation is driven by the rapid expansion of hyperlocal startups, alongside the emergence of new companies, established e-commerce players,͏͏ and͏͏ innovative͏͏ brands͏͏ all͏͏ striving͏͏ to͏͏ reduce͏͏ delivery͏͏ times.

Investment͏͏ Opportunities͏͏ in͏͏ a͏͏ Growing͏͏ Sector:

Many͏͏ early-stage͏͏ venture͏͏ firms͏͏ are͏͏ actively͏͏ exploring͏͏ investment͏͏ opportunities͏͏ in͏͏ this͏͏ rapidly͏͏ growing͏͏ sector.

“There͏͏ are͏͏ certainly͏͏ overlaps͏͏ with͏͏ e-commerce,͏͏ and͏͏ some͏͏ existing͏͏ enabling͏͏ technologies͏͏ can͏͏ support͏͏ quick͏͏ commerce.͏͏ However,͏͏ quick͏͏ commerce͏͏ often͏͏ needs͏͏ its͏͏ own͏͏ unique͏͏ enablers,”͏͏ said͏͏ Kunal͏͏ Bahl,͏͏ cofounder͏͏ of͏͏ Titan͏͏ Capital͏͏ and͏͏ AceVector͏͏ Group,͏͏ which͏͏ operates͏͏ Snapdeal͏͏ and͏͏ Unicommerce.

Continue͏͏ Exploring:͏͏ Quick commerce set͏͏ to͏͏ drive͏͏ India’s͏͏ gross͏͏ order͏͏ value͏͏ to͏͏ USD͏͏ 10͏͏ Bn͏͏ by͏͏ FY26

Emerging͏͏ Platforms͏͏ and͏͏ Market͏͏ Dynamics:

Bahl͏͏ mentioned͏͏ that͏͏ Titan͏͏ Capital͏͏ has͏͏ invested͏͏ in͏͏ Blitz,͏͏ a͏͏ startup͏͏ developing͏͏ a͏͏ third-party͏͏ dark͏͏ store͏͏ network͏͏ to͏͏ aid͏͏ brands͏͏ in͏͏ quick͏͏ commerce.͏͏ The͏͏ firm͏͏ has͏͏ also͏͏ assessed͏͏ startups͏͏ in͏͏ areas͏͏ like͏͏ solutions͏͏ enabling͏͏ order͏͏ management͏͏ across͏͏ various͏͏ quick͏͏ commerce͏͏ platforms.

Gurugram-based͏͏ startup͏͏ Zippee,͏͏ which͏͏ recently͏͏ secured͏͏ funding,͏͏ facilitates͏͏ two-hour͏͏ and͏͏ same-day͏͏ deliveries͏͏ for͏͏ over͏͏ 140͏͏ established͏͏ and͏͏ new-age͏͏ brands͏͏ like͏͏ Frido,͏͏ Ultrahuman,͏͏ and͏͏ Haldiram’s.͏͏ The͏͏ company͏͏ provides͏͏ access͏͏ to͏͏ dark͏͏ stores͏͏ to͏͏ fulfil͏͏ orders͏͏ in͏͏ cities͏͏ such͏͏ as͏͏ New͏͏ Delhi,͏͏ Chennai,͏͏ Ludhiana,͏͏ and͏͏ Pune.

Other͏͏ emerging͏͏ platforms͏͏ are͏͏ beginning͏͏ to͏͏ cater͏͏ to͏͏ quick͏͏ commerce͏͏ startups,͏͏ which͏͏ experts͏͏ believe͏͏ could͏͏ present͏͏ challenges.͏͏ Bahl͏͏ noted͏͏ that͏͏ companies͏͏ developing͏͏ solutions͏͏ for͏͏ quick͏͏ commerce͏͏ players͏͏ like͏͏ Blinkit͏͏ and͏͏ Zepto͏͏ may͏͏ encounter͏͏ difficulties͏͏ due͏͏ to͏͏ their͏͏ tech-native͏͏ nature.͏͏ He͏͏ added͏͏ that͏͏ “the͏͏ real͏͏ opportunity͏͏ lies͏͏ in͏͏ creating͏͏ products͏͏ for͏͏ brands͏͏ now͏͏ handling͏͏ orders͏͏ across͏͏ multiple͏͏ distribution͏͏ channels.”

A͏͏ senior͏͏ executive͏͏ at͏͏ one͏͏ of͏͏ the͏͏ largest͏͏ quick͏͏ commerce͏͏ platforms͏͏ stated͏͏ that͏͏ although͏͏ new͏͏ entrants͏͏ are͏͏ providing͏͏ various͏͏ services͏͏ like͏͏ Software͏͏ as͏͏ a͏͏ Service͏͏ (SaaS),͏͏ logistics,͏͏ and͏͏ real͏͏ estate͏͏ solutions,͏͏ the͏͏ limited͏͏ addressable͏͏ market͏͏ of͏͏ 8-9͏͏ major͏͏ companies͏͏ could͏͏ pose͏͏ a͏͏ challenge͏͏ in͏͏ the͏͏ future.

Nitin͏͏ Sharma,͏͏ a͏͏ partner͏͏ at͏͏ early-stage͏͏ fund͏͏ Antler,͏͏ provided͏͏ a͏͏ nuanced͏͏ perspective͏͏ on͏͏ the͏͏ rise͏͏ of͏͏ these͏͏ ventures.͏͏ “There͏͏ are͏͏ two͏͏ contrasting͏͏ angles͏͏ to͏͏ consider͏͏ in͏͏ this͏͏ space,”͏͏ he͏͏ explained.͏͏ “On͏͏ one͏͏ hand,͏͏ the͏͏ growth͏͏ of͏͏ quick͏͏ commerce͏͏ may͏͏ soon͏͏ necessitate͏͏ its͏͏ own͏͏ ‘enabler’͏͏ ecosystem͏͏ of͏͏ startups.͏͏ These͏͏ startups͏͏ will͏͏ assist͏͏ large͏͏ platforms͏͏ in͏͏ scaling͏͏ further͏͏ in͏͏ areas͏͏ like͏͏ inventory͏͏ management,͏͏ dark͏͏ store͏͏ operations,͏͏ and͏͏ last-mile͏͏ logistics.”

However,͏͏ Sharma͏͏ also͏͏ recognized͏͏ potential͏͏ challenges.͏͏ “The͏͏ future͏͏ of͏͏ quick͏͏ commerce͏͏ in͏͏ non-metro͏͏ and͏͏ tier͏͏ I͏͏ markets͏͏ remains͏͏ uncertain.͏͏ Furthermore,͏͏ local͏͏ kiranas͏͏ and͏͏ general͏͏ trade͏͏ stores͏͏ will͏͏ need͏͏ to͏͏ adapt͏͏ to͏͏ retain͏͏ their͏͏ more͏͏ profitable͏͏ customers.”

Take͏͏ Mumbai-based͏͏ Dava͏͏ Ninja,͏͏ which͏͏ launched͏͏ in͏͏ April͏͏ to͏͏ facilitate͏͏ 60-minute͏͏ medicine͏͏ deliveries͏͏ for͏͏ pharmacies.͏͏ Although͏͏ it͏͏ lacks͏͏ its͏͏ own͏͏ delivery͏͏ fleet,͏͏ the͏͏ startup͏͏ helps͏͏ local͏͏ pharmacies͏͏ digitise͏͏ by͏͏ offering͏͏ an͏͏ app-based͏͏ ordering͏͏ service͏͏ that͏͏ aggregates͏͏ pharmacies͏͏ in͏͏ a͏͏ locality͏͏ and͏͏ routes͏͏ orders͏͏ based͏͏ on͏͏ location͏͏ and͏͏ inventory͏͏ data.͏͏ Currently,͏͏ its͏͏ operations͏͏ are͏͏ in͏͏ the͏͏ early͏͏ stages,͏͏ partnering͏͏ with͏͏ 20͏͏ pharmacies.

It’s͏͏ important͏͏ to͏͏ note͏͏ that͏͏ companies͏͏ supporting͏͏ the͏͏ digitisation͏͏ of͏͏ kirana͏͏ stores͏͏ have͏͏ existed͏͏ since͏͏ the͏͏ pandemic.

Vaibhav͏͏ Domkundwar,͏͏ CEO͏͏ of͏͏ Better͏͏ Capital,͏͏ which͏͏ has͏͏ invested͏͏ in͏͏ startups͏͏ like͏͏ Slice,͏͏ M2P,͏͏ and͏͏ Teachmint,͏͏ stated͏͏ that͏͏ his͏͏ fund͏͏ started͏͏ exploring͏͏ opportunities͏͏ in͏͏ the͏͏ fast͏͏ delivery͏͏ sector͏͏ three͏͏ years͏͏ ago͏͏ with͏͏ its͏͏ investment͏͏ in͏͏ Bengaluru-based͏͏ Yulu,͏͏ a͏͏ provider͏͏ of͏͏ low-speed͏͏ electric͏͏ two-wheeler͏͏ services.

“Over͏͏ the͏͏ past͏͏ 18͏͏ months,͏͏ it͏͏ became͏͏ evident͏͏ that͏͏ quick͏͏ commerce͏͏ has͏͏ significant͏͏ potential͏͏ to͏͏ thrive͏͏ in͏͏ India,͏͏ despite͏͏ its͏͏ challenges͏͏ in͏͏ many͏͏ other͏͏ global͏͏ markets.͏͏ Once͏͏ we͏͏ recognised͏͏ that͏͏ quick͏͏ commerce͏͏ is͏͏ here͏͏ to͏͏ stay,͏͏ we͏͏ shifted͏͏ our͏͏ focus͏͏ to͏͏ ‘what͏͏ else͏͏ will͏͏ be͏͏ built͏͏ around͏͏ it’͏͏ and͏͏ identified͏͏ vertical͏͏ quick͏͏ commerce͏͏ as͏͏ a͏͏ promising͏͏ opportunity,”͏͏ said͏͏ Domkundwar.

To͏͏ capitalise͏͏ on͏͏ the͏͏ trend,͏͏ Better͏͏ Capital͏͏ led͏͏ a͏͏ $300,000͏͏ funding͏͏ round͏͏ for͏͏ Slikk,͏͏ a͏͏ Gen͏͏ Z-focused͏͏ app͏͏ that͏͏ provides͏͏ 60-minute͏͏ clothing͏͏ delivery.

E-commerce Giants͏͏ Adapting͏͏ to͏͏ Quick Commerce:

As͏͏ quick͏͏ commerce͏͏ companies͏͏ broaden͏͏ their͏͏ product͏͏ offerings͏͏ to͏͏ include͏͏ luggage,͏͏ fashion,͏͏ toys,͏͏ and͏͏ electronics,͏͏ major͏͏ e-commerce͏͏ firms͏͏ are͏͏ speeding͏͏ up͏͏ their͏͏ delivery͏͏ timelines͏͏ to͏͏ meet͏͏ changing͏͏ consumer͏͏ expectations.

For͏͏ instance,͏͏ beauty͏͏ retailer͏͏ Nykaa͏͏ has͏͏ enhanced͏͏ its͏͏ express͏͏ delivery͏͏ service͏͏ in͏͏ major͏͏ cities,͏͏ while͏͏ Amazon͏͏ is͏͏ expanding͏͏ its͏͏ same-day͏͏ delivery͏͏ network͏͏ to͏͏ expedite͏͏ orders͏͏ for͏͏ Prime͏͏ members.͏͏ Tata-owned͏͏ BigBasket͏͏ plans͏͏ to͏͏ fully͏͏ transition͏͏ to͏͏ 10–30͏͏ minute͏͏ delivery,͏͏ as͏͏ reported͏͏ in͏͏ August,͏͏ and͏͏ Flipkart͏͏ launched͏͏ its͏͏ quick͏͏ commerce͏͏ service,͏͏ ‘Minutes,’͏͏ in͏͏ Bengaluru͏͏ the͏͏ same͏͏ month.

Established͏͏ e-commerce͏͏ enablers͏͏ like͏͏ Unicommerce͏͏ have͏͏ developed͏͏ capabilities͏͏ that͏͏ allow͏͏ brands͏͏ to͏͏ streamline͏͏ selling͏͏ through͏͏ quick͏͏ commerce.͏͏ Third-party͏͏ logistics͏͏ providers͏͏ such͏͏ as͏͏ Delhivery͏͏ and͏͏ Xpressbees͏͏ are͏͏ also͏͏ broadening͏͏ their͏͏ services͏͏ to͏͏ support͏͏ quick͏͏ commerce͏͏ startups,͏͏ as͏͏ reported͏͏ in͏͏ June.͏͏ This͏͏ trend͏͏ will͏͏ heighten͏͏ competition͏͏ in͏͏ the͏͏ market͏͏ for͏͏ new͏͏ entrants.

Continue͏͏ Exploring:͏͏ Quick commerce players͏͏ ramp͏͏ up͏͏ 24×7͏͏ deliveries͏͏ to͏͏ meet͏͏ festive͏͏ season͏͏ demand

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FMCG sales surge this quarter driven by strong rural recovery and easing inflation

By
M Haziq Pandit
-
0
FMCG

Consumer goods firms are experiencing notable sales growth this quarter compared to July-September 2023, driven by a normal monsoon, lower inflation, and robust festive stocking. This indicates a turnaround from the recent slowdown, according to industry executives. Leading fast-moving consumer goods (FMCG) companies͏͏ like͏͏ Procter͏͏ &͏͏ Gamble,͏͏ Parle͏͏ Products,͏͏ and͏͏ Amul͏͏ have͏͏ reported͏͏ a͏͏ revival͏͏ in͏͏ both͏͏ value͏͏ and͏͏ volume͏͏ sales,͏͏ particularly͏͏ in͏͏ rural͏͏ areas.

However,͏͏ some͏͏ analysts͏͏ caution͏͏ that͏͏ volume͏͏ sales͏͏ could͏͏ be͏͏ affected͏͏ in͏͏ the͏͏ coming͏͏ months͏͏ due͏͏ to͏͏ anticipated͏͏ price͏͏ hikes͏͏ in͏͏ several͏͏ categories,͏͏ driven͏͏ by͏͏ increased͏͏ import͏͏ duties͏͏ on͏͏ crude͏͏ and͏͏ refined͏͏ edible͏͏ oils.

P&G͏͏ Notes͏͏ Positive͏͏ FMCG Trends:

“We’re͏͏ certainly͏͏ seeing͏͏ green͏͏ shoots͏͏ emerging͏͏ within͏͏ the͏͏ FMCG͏͏ industry,”͏͏ said͏͏ Mrinalini͏͏ Srinivasan,͏͏ chief͏͏ financial͏͏ officer͏͏ of͏͏ P&G͏͏ Hygiene͏͏ and͏͏ Health͏͏ Care.

“Inflation͏͏ has͏͏ been͏͏ steadily͏͏ easing,͏͏ with͏͏ both͏͏ July͏͏ and͏͏ August͏͏ coming͏͏ in͏͏ below͏͏ the͏͏ RBI’s͏͏ medium-term͏͏ target͏͏ of͏͏ 4%.͏͏ Monsoons͏͏ have͏͏ been͏͏ normal͏͏ or͏͏ above͏͏ normal͏͏ in͏͏ 75%͏͏ of͏͏ districts,͏͏ and͏͏ rural͏͏ demand͏͏ is͏͏ anticipated͏͏ to͏͏ follow͏͏ these͏͏ positive͏͏ trends,”͏͏ said͏͏ Srinivasan͏͏ of͏͏ P&G͏͏ Hygiene͏͏ during͏͏ a͏͏ recent͏͏ investor͏͏ call.

Continue͏͏ Exploring:͏͏ Global͏͏ FMCG companies͏͏ boost͏͏ efforts͏͏ to͏͏ capture͏͏ India’s͏͏ expanding͏͏ market

FMCG Market͏͏ Set͏͏ for͏͏ 12%͏͏ Growth:

The͏͏ overall͏͏ FMCG͏͏ market͏͏ is͏͏ projected͏͏ to͏͏ grow͏͏ by͏͏ 12%͏͏ in͏͏ value͏͏ during͏͏ July-September,͏͏ compared͏͏ to͏͏ the͏͏ same͏͏ period͏͏ last͏͏ year,͏͏ when͏͏ it͏͏ declined͏͏ by͏͏ 2.3%͏͏ due͏͏ to͏͏ rising͏͏ food͏͏ inflation͏͏ and͏͏ erratic͏͏ monsoons,͏͏ according͏͏ to͏͏ Bizom,͏͏ which͏͏ tracks͏͏ kirana͏͏ sales.

Sales͏͏ rose͏͏ 13%͏͏ year-on-year͏͏ in͏͏ August͏͏ and͏͏ 8%͏͏ in͏͏ July,͏͏ according͏͏ to͏͏ Bizom͏͏ data.͏͏ The͏͏ June͏͏ quarter͏͏ saw͏͏ a͏͏ 9%͏͏ year-on-year͏͏ growth,͏͏ while͏͏ the͏͏ March͏͏ quarter͏͏ recorded͏͏ 7%,͏͏ indicating͏͏ a͏͏ sequential͏͏ improvement͏͏ as͏͏ well.

Rural͏͏ Spending͏͏ Rises͏͏ with͏͏ Good͏͏ Monsoons:

“Good͏͏ monsoons͏͏ positively͏͏ impact͏͏ the͏͏ farming͏͏ sector,͏͏ leading͏͏ to͏͏ better͏͏ pricing͏͏ and͏͏ procurement,͏͏ which͏͏ puts͏͏ more͏͏ money͏͏ in͏͏ the͏͏ hands͏͏ of͏͏ rural͏͏ consumers,”͏͏ said͏͏ Jayen͏͏ Mehta,͏͏ managing͏͏ director͏͏ of͏͏ Gujarat͏͏ Cooperative͏͏ Milk͏͏ Marketing͏͏ Federation,͏͏ India’s͏͏ largest͏͏ dairy͏͏ producer͏͏ of͏͏ Amul͏͏ cheese,͏͏ milk,͏͏ butter,͏͏ and͏͏ ice͏͏ cream.

“This͏͏ is͏͏ resulting͏͏ in͏͏ an͏͏ uplift͏͏ in͏͏ positive͏͏ sentiment.”

“We͏͏ anticipate͏͏ strong͏͏ demand͏͏ across͏͏ all͏͏ dairy͏͏ categories,͏͏ driven͏͏ by͏͏ several͏͏ factors,͏͏ including͏͏ expanded͏͏ distribution͏͏ and͏͏ favourable͏͏ monsoons,͏͏ which͏͏ have͏͏ even͏͏ extended͏͏ in͏͏ some͏͏ regions,”͏͏ Mehta͏͏ said.

The͏͏ price-sensitive͏͏ consumer͏͏ industry͏͏ has͏͏ faced͏͏ a͏͏ demand͏͏ slump͏͏ after͏͏ companies͏͏ raised͏͏ sticker͏͏ prices͏͏ by͏͏ nearly͏͏ a͏͏ quarter͏͏ following͏͏ Covid͏͏ to͏͏ counter͏͏ rising͏͏ input͏͏ costs.͏͏ However,͏͏ about͏͏ a͏͏ year͏͏ ago,͏͏ they͏͏ began͏͏ cutting͏͏ prices͏͏ due͏͏ to͏͏ a͏͏ clear͏͏ consumer͏͏ shift͏͏ towards͏͏ more͏͏ affordable͏͏ products,͏͏ which͏͏ affected͏͏ their͏͏ value͏͏ growth.

Prices͏͏ have͏͏ remained͏͏ stable͏͏ over͏͏ the͏͏ past͏͏ few͏͏ months,͏͏ with͏͏ some͏͏ companies͏͏ even͏͏ raising͏͏ prices͏͏ as͏͏ sales͏͏ have͏͏ improved.

“Both͏͏ value͏͏ and͏͏ volume͏͏ sales͏͏ have͏͏ returned,”͏͏ said͏͏ Krishnarao͏͏ Buddha,͏͏ senior͏͏ category͏͏ head͏͏ at͏͏ Parle͏͏ Products,͏͏ India’s͏͏ largest͏͏ food͏͏ company.͏͏ “We͏͏ are͏͏ seeing͏͏ a͏͏ normalisation͏͏ effect͏͏ with͏͏ the͏͏ resolution͏͏ of͏͏ post-Covid͏͏ issues.͏͏ Several͏͏ factors—such͏͏ as͏͏ a͏͏ good͏͏ monsoon,͏͏ strong͏͏ stocking͏͏ ahead͏͏ of͏͏ the͏͏ festive͏͏ season,͏͏ and͏͏ rural͏͏ recovery—have͏͏ contributed͏͏ to͏͏ significant͏͏ value͏͏ and͏͏ volume͏͏ offtake͏͏ this͏͏ quarter.”

Continue͏͏ Exploring:͏͏ Rural͏͏ demand͏͏ in͏͏ FMCG sector͏͏ set͏͏ to͏͏ grow͏͏ further͏͏ in͏͏ the͏͏ coming͏͏ quarters:͏͏ Axis͏͏ Securities

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Aditya Birla New Age Hospitality launches Waarsa at NCPA, bringing the essence of Awadhi dining to Mumbai

By
M Haziq Pandit
-
0
Waarsa

Aditya Birla New Age Hospitality (ABNAH), the hospitality division of the Aditya Birla Group, has launched Waarsa, a premium casual dining restaurant offering signature Awadhi cuisine. Waarsa͏͏ is͏͏ located͏͏ within͏͏ the͏͏ heritage͏͏ precinct͏͏ of͏͏ the͏͏ renowned͏͏ National͏͏ Centre͏͏ for͏͏ the͏͏ Performing͏͏ Arts͏͏ (NCPA)͏͏ in͏͏ Nariman͏͏ Point,͏͏ Mumbai.

Celebrating͏͏ Awadhi Heritage͏͏ Through͏͏ Culinary͏͏ Artistry:

Waarsa,͏͏ meaning͏͏ “inheritance,”͏͏ aims͏͏ to͏͏ tell͏͏ the͏͏ story͏͏ of͏͏ Awadh͏͏ and͏͏ its͏͏ chefs͏͏ through͏͏ the͏͏ flavours,͏͏ aromas,͏͏ and͏͏ techniques͏͏ handed͏͏ down͏͏ through͏͏ generations.͏͏ It͏͏ embodies͏͏ a͏͏ profound͏͏ connection͏͏ to͏͏ the͏͏ rich͏͏ legacy͏͏ and͏͏ culinary͏͏ heritage͏͏ of͏͏ Awadhi͏͏ cuisine.

Continue͏͏ Exploring:͏͏ Aditya͏͏ Birla͏͏ Group’s͏͏ hospitality͏͏ arm͏͏ ABNAH͏͏ secures͏͏ major͏͏ deal,͏͏ adds͏͏ iconic͏͏ restaurant͏͏ brands͏͏ to͏͏ portfolio

Culinary͏͏ Expertise͏͏ Behind͏͏ Waarsa:

Waarsa,͏͏ led͏͏ by͏͏ Rahul͏͏ Akerkar,͏͏ culinary͏͏ director͏͏ at͏͏ ABNAH,͏͏ and͏͏ master͏͏ chef͏͏ Mukthar͏͏ Qureshi,͏͏ is͏͏ more͏͏ than͏͏ just͏͏ a͏͏ restaurant.͏͏ It͏͏ offers͏͏ a͏͏ journey͏͏ through͏͏ the͏͏ vibrant͏͏ and͏͏ rich͏͏ history͏͏ of͏͏ Awadhi͏͏ cuisine,͏͏ drawing͏͏ inspiration͏͏ not͏͏ only͏͏ from͏͏ royal͏͏ kitchens͏͏ but͏͏ also͏͏ from͏͏ the͏͏ homes͏͏ of͏͏ regional͏͏ cooks͏͏ who͏͏ migrated͏͏ from͏͏ Awadh͏͏ to͏͏ various͏͏ parts͏͏ of͏͏ India.

Udai͏͏ Pinnali,͏͏ CEO͏͏ of͏͏ ABNAH,͏͏ stated:͏͏ “We͏͏ are͏͏ honoured͏͏ to͏͏ launch͏͏ Waarsa͏͏ at͏͏ the͏͏ esteemed͏͏ NCPA,͏͏ a͏͏ venue͏͏ celebrated͏͏ for͏͏ its͏͏ dedication͏͏ to͏͏ traditional͏͏ and͏͏ contemporary͏͏ arts͏͏ over͏͏ the͏͏ years.͏͏ Waarsa͏͏ is͏͏ our͏͏ tribute͏͏ to͏͏ a͏͏ cuisine͏͏ influenced͏͏ by͏͏ both͏͏ regal͏͏ kitchens͏͏ and͏͏ the͏͏ warmth͏͏ of͏͏ traditional͏͏ Awadhi͏͏ homes.͏͏ Chef͏͏ Rahul͏͏ Akerkar͏͏ and͏͏ Chef͏͏ Mukhtar͏͏ Qureshi͏͏ have͏͏ worked͏͏ together͏͏ to͏͏ create͏͏ a͏͏ culinary͏͏ experience͏͏ that͏͏ is͏͏ deeply͏͏ rooted͏͏ in͏͏ Awadh͏͏ while͏͏ being͏͏ thoughtfully͏͏ adapted͏͏ to͏͏ modern͏͏ tastes.”

“At͏͏ ABNAH,͏͏ our͏͏ approach͏͏ to͏͏ new͏͏ dining͏͏ concepts͏͏ is͏͏ guided͏͏ by͏͏ a͏͏ mission͏͏ to͏͏ harness͏͏ the͏͏ transformative͏͏ power͏͏ of͏͏ food͏͏ and͏͏ share͏͏ culinary͏͏ stories͏͏ that͏͏ resonate͏͏ with͏͏ today’s͏͏ audience.”

“We͏͏ have͏͏ meticulously͏͏ designed͏͏ every͏͏ detail͏͏ of͏͏ Waarsa͏͏ to͏͏ embody͏͏ the͏͏ essence͏͏ of͏͏ Awadh͏͏ in͏͏ an͏͏ understated͏͏ yet͏͏ elegant͏͏ manner.͏͏ To͏͏ achieve͏͏ this,͏͏ we͏͏ immersed͏͏ ourselves͏͏ in͏͏ the͏͏ diverse͏͏ culinary͏͏ landscapes͏͏ of͏͏ Lucknow,͏͏ Benares,͏͏ Kolkata,͏͏ and͏͏ beyond,͏͏ deeply͏͏ exploring͏͏ the͏͏ history͏͏ and͏͏ intricacies͏͏ of͏͏ this͏͏ remarkable͏͏ cuisine,”͏͏ added͏͏ Rahul͏͏ Akerkar.

“For͏͏ me,͏͏ Waarsa͏͏ is͏͏ a͏͏ deeply͏͏ personal͏͏ journey.͏͏ The͏͏ menu͏͏ captures͏͏ my͏͏ childhood͏͏ memories͏͏ of͏͏ home-cooked͏͏ meals͏͏ and͏͏ the͏͏ rich͏͏ stories͏͏ from͏͏ my͏͏ family,͏͏ while͏͏ also͏͏ reflecting͏͏ the͏͏ culinary͏͏ voice͏͏ I’ve͏͏ developed͏͏ over͏͏ the͏͏ years.͏͏ It͏͏ pays͏͏ homage͏͏ to͏͏ the͏͏ authenticity͏͏ of͏͏ Awadhi͏͏ cuisine͏͏ and͏͏ its͏͏ historical͏͏ roots,͏͏ while͏͏ introducing͏͏ subtle͏͏ modern͏͏ touches͏͏ to͏͏ create͏͏ a͏͏ lighter͏͏ and͏͏ more͏͏ contemporary͏͏ dining͏͏ experience,”͏͏ said͏͏ Mukhtar͏͏ Qureshi,͏͏ a͏͏ member͏͏ of͏͏ the͏͏ esteemed͏͏ Qureshi͏͏ family͏͏ known͏͏ for͏͏ their͏͏ strong͏͏ Awadhi͏͏ heritage,͏͏ who͏͏ leads͏͏ the͏͏ kitchen͏͏ at͏͏ the͏͏ restaurant.

Continue͏͏ Exploring:͏͏ Aditya͏͏ Birla͏͏ Group͏͏ to͏͏ enter͏͏ Premium͏͏ Casual͏͏ Dining͏͏ Industry͏͏ with͏͏ new͏͏ restaurant͏͏ chains

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Jaipur Watch Company expands into women’s segment, eyes 20% sales contribution

By
M Haziq Pandit
-
0
Jaipur Watch Company

Luxury brand Jaipur Watch Company has entered the women’s watch market with the launch of its new collection,͏͏ ‘Brides͏͏ of͏͏ Jaipur’.

“We͏͏ recognised͏͏ that͏͏ we͏͏ were͏͏ missing͏͏ out͏͏ on͏͏ 50%͏͏ of͏͏ the͏͏ market,͏͏ which͏͏ motivated͏͏ our͏͏ entry͏͏ into͏͏ the͏͏ women’s͏͏ segment,”͏͏ said͏͏ Gaurav Mehta,͏͏ Founder͏͏ of͏͏ Jaipur͏͏ Watch͏͏ Company.

Sales͏͏ Projections͏͏ and͏͏ Growth͏͏ Goals:

Mehta͏͏ anticipates͏͏ that͏͏ the͏͏ new͏͏ collection,͏͏ priced͏͏ at͏͏ an͏͏ average͏͏ of͏͏ INR͏͏ 40,000,͏͏ will͏͏ contribute͏͏ around͏͏ 20%͏͏ of͏͏ the͏͏ company’s͏͏ sales͏͏ by͏͏ the͏͏ end͏͏ of͏͏ the͏͏ upcoming͏͏ calendar͏͏ year.

Jaipur͏͏ Watch͏͏ Company͏͏ is͏͏ currently͏͏ reporting͏͏ annual͏͏ sales͏͏ of͏͏ INR͏͏ 12͏͏ crore͏͏ and͏͏ aims͏͏ to͏͏ more͏͏ than͏͏ double͏͏ its͏͏ run͏͏ rate͏͏ to͏͏ INR͏͏ 28-30͏͏ crore͏͏ by͏͏ the͏͏ end͏͏ of͏͏ the͏͏ next͏͏ fiscal͏͏ year,͏͏ he͏͏ stated.

The͏͏ brand͏͏ operates͏͏ in͏͏ the͏͏ bridge-to-luxury͏͏ segment.͏͏ Mehta͏͏ noted͏͏ that͏͏ in͏͏ the͏͏ over͏͏ INR͏͏ 35,000͏͏ price͏͏ range,͏͏ the͏͏ watch͏͏ market͏͏ is͏͏ valued͏͏ at͏͏ INR͏͏ 3,000͏͏ crore,͏͏ with͏͏ women’s͏͏ watches͏͏ accounting͏͏ for͏͏ 30%͏͏ of͏͏ the͏͏ market͏͏ share.

Continue͏͏ Exploring:͏͏ Swiss͏͏ watchmakers͏͏ bullish͏͏ on͏͏ India’s͏͏ growing͏͏ luxury͏͏ market:͏͏ Deloitte͏͏ Report

Strategic͏͏ Expansion͏͏ Plans:

In͏͏ terms͏͏ of͏͏ expansion,͏͏ Jaipur͏͏ Watch͏͏ Company͏͏ aims͏͏ to͏͏ increase͏͏ its͏͏ brand͏͏ outlets͏͏ to͏͏ 10͏͏ by͏͏ the͏͏ end͏͏ of͏͏ this͏͏ year.͏͏ The͏͏ retailer͏͏ is͏͏ also͏͏ in͏͏ the͏͏ process͏͏ of͏͏ opening͏͏ its͏͏ first͏͏ store͏͏ in͏͏ Dubai,͏͏ marking͏͏ its͏͏ entry͏͏ into͏͏ international͏͏ markets.

Earlier͏͏ in͏͏ May,͏͏ the͏͏ brand͏͏ raised͏͏ INR͏͏ 2.4͏͏ crore͏͏ from͏͏ Nirav͏͏ Jogani͏͏ of͏͏ Lemon͏͏ Funds͏͏ and͏͏ Jignesh͏͏ Shah͏͏ of͏͏ Dev͏͏ Diamonds͏͏ and͏͏ Lucky͏͏ Jewellery.͏͏ Mehta͏͏ revealed͏͏ that͏͏ the͏͏ company͏͏ has͏͏ since͏͏ secured͏͏ an͏͏ additional͏͏ INR͏͏ 1.5͏͏ crore͏͏ in͏͏ a͏͏ bridge͏͏ round͏͏ from͏͏ existing͏͏ investors,͏͏ bringing͏͏ the͏͏ total͏͏ funds͏͏ raised͏͏ to͏͏ INR͏͏ 5͏͏ crore.

Continue͏͏ Exploring:͏͏ Jaipur Watch Company secures͏͏ INR͏͏ 2.4͏͏ Cr͏͏ in͏͏ funding,͏͏ eyes͏͏ further͏͏ expansion͏͏ with͏͏ larger͏͏ round

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Marico aims to double food business by FY27 with focus on innovation and distribution expansion

By
M Haziq Pandit
-
0
Marico

FMCG giant Marico aims to enhance its presence in current categories while leveraging innovations to double its food business by FY27. The͏͏ company͏͏ anticipates͏͏ a͏͏ growth͏͏ rate͏͏ of͏͏ 20-25%͏͏ CAGR͏͏ for͏͏ this͏͏ segment.

Collaboration͏͏ with͏͏ NIFTEM͏͏ for͏͏ Enhanced͏͏ R&D͏͏ and͏͏ Skill͏͏ Development:

The͏͏ company͏͏ has͏͏ signed͏͏ an͏͏ MoU͏͏ with͏͏ the͏͏ National͏͏ Institute͏͏ of͏͏ Food͏͏ Technology͏͏ Entrepreneurship͏͏ and͏͏ Management͏͏ (NIFTEM)͏͏ at͏͏ World͏͏ Food͏͏ India͏͏ 2024.͏͏ This͏͏ collaboration͏͏ will͏͏ focus͏͏ on͏͏ advancing͏͏ skill͏͏ development,͏͏ technology͏͏ sharing,͏͏ and͏͏ enhancing͏͏ capabilities͏͏ within͏͏ Marico’s͏͏ R&D͏͏ operations.

Continue͏͏ Exploring:͏͏ Marico expects͏͏ foods and͏͏ premium͏͏ personal͏͏ care͏͏ segments͏͏ to͏͏ drive͏͏ 25%͏͏ of͏͏ revenue͏͏ by͏͏ FY27

During͏͏ the͏͏ WFI͏͏ Conclave,͏͏ Vaibhav͏͏ Bhanchawat,͏͏ Chief͏͏ Operating͏͏ Officer͏͏ -͏͏ India͏͏ &͏͏ Foods͏͏ Business͏͏ at͏͏ Marico͏͏ Ltd,͏͏ stated,͏͏ “We͏͏ have͏͏ achieved͏͏ significant͏͏ success͏͏ in͏͏ the͏͏ food͏͏ category͏͏ over͏͏ the͏͏ past͏͏ few͏͏ years.͏͏ Our͏͏ goal͏͏ is͏͏ to͏͏ double͏͏ our͏͏ foods͏͏ business͏͏ by͏͏ FY27,͏͏ which͏͏ includes͏͏ the͏͏ Plix͏͏ and͏͏ True͏͏ Elements͏͏ portfolios,͏͏ aligning͏͏ perfectly͏͏ with͏͏ our͏͏ overall͏͏ diversification͏͏ strategy.”

Innovative͏͏ Product͏͏ Launches͏͏ Set͏͏ to͏͏ Drive͏͏ Growth:

He͏͏ added,͏͏ “Examining͏͏ the͏͏ penetration͏͏ levels͏͏ in͏͏ the͏͏ categories͏͏ where͏͏ we͏͏ operate͏͏ reveals͏͏ significant͏͏ growth͏͏ potential.͏͏ Our͏͏ recent͏͏ launches,͏͏ including͏͏ the͏͏ Masala͏͏ Oats͏͏ gourmet͏͏ range,͏͏ Masala͏͏ Millets,͏͏ Crunchiez͏͏ Millet͏͏ Cones,͏͏ and͏͏ Muesli,͏͏ are͏͏ just͏͏ the͏͏ beginning.͏͏ As͏͏ we͏͏ expand͏͏ these͏͏ offerings,͏͏ we͏͏ anticipate͏͏ a͏͏ major͏͏ unlock͏͏ in͏͏ growth.͏͏ Additionally,͏͏ we͏͏ have͏͏ a͏͏ robust͏͏ innovation͏͏ pipeline͏͏ aimed͏͏ at͏͏ capitalising͏͏ on͏͏ key͏͏ consumption͏͏ trends͏͏ related͏͏ to͏͏ convenience͏͏ and͏͏ health.”

Project͏͏ SETU:͏͏ Expanding͏͏ Store͏͏ Reach

Marico͏͏ aims͏͏ to͏͏ expand͏͏ its͏͏ direct͏͏ reach͏͏ to͏͏ over͏͏ 1.5͏͏ million͏͏ stores͏͏ within͏͏ three͏͏ years͏͏ through͏͏ its͏͏ Project͏͏ SETU͏͏ initiative.͏͏ Bhanchawat͏͏ noted͏͏ that͏͏ the͏͏ food͏͏ portfolio͏͏ will͏͏ be͏͏ a͏͏ key͏͏ beneficiary͏͏ of͏͏ this͏͏ strategy.͏͏ “We͏͏ will͏͏ utilise͏͏ the͏͏ distribution͏͏ strength͏͏ of͏͏ our͏͏ core͏͏ brands͏͏ to͏͏ enhance͏͏ the͏͏ reach͏͏ of͏͏ our͏͏ new͏͏ portfolios.͏͏ For͏͏ example,͏͏ Masala͏͏ Oats͏͏ currently͏͏ has͏͏ a͏͏ distribution͏͏ reach͏͏ of͏͏ over͏͏ 250,000͏͏ outlets,͏͏ and͏͏ this͏͏ will͏͏ continue͏͏ to͏͏ grow.͏͏ However,͏͏ each͏͏ category͏͏ will͏͏ have͏͏ its͏͏ own͏͏ unique͏͏ approach,͏͏ so͏͏ not͏͏ everything͏͏ will͏͏ be͏͏ mass͏͏ marketed,”͏͏ he͏͏ added.

In͏͏ response͏͏ to͏͏ a͏͏ question͏͏ about͏͏ the͏͏ expansion͏͏ strategy͏͏ for͏͏ the͏͏ Saffola͏͏ foods͏͏ portfolio,͏͏ Bhanchawat͏͏ explained,͏͏ “We͏͏ are͏͏ concentrating͏͏ on͏͏ expanding͏͏ our͏͏ Total͏͏ Addressable͏͏ Market͏͏ (TAM)͏͏ and͏͏ reaching͏͏ various͏͏ consumer͏͏ segments.͏͏ Additionally,͏͏ we͏͏ aim͏͏ to͏͏ cater͏͏ to͏͏ different͏͏ consumption͏͏ occasions͏͏ throughout͏͏ the͏͏ day͏͏ with͏͏ our͏͏ offerings.”

Continue͏͏ Exploring:͏͏ Marico expands͏͏ Saffola͏͏ range͏͏ with͏͏ launch͏͏ of͏͏ Masala͏͏ Millets͏͏ in͏͏ two͏͏ flavours

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FMCG giant BL Agro sets sights on INR 20,000 Cr turnover by 2030

By
M Haziq Pandit
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0
FMCG BL Agro

BL Agro Group, an FMCG company, is aiming for a turnover of INR 20,000 crore by 2030, focusing on sustainability, innovation, and community upliftment, according to Managing Director Ashish Khandelwal.

Strategic͏͏ Initiatives͏͏ for͏͏ Growth:

The͏͏ company͏͏ is͏͏ driving͏͏ growth͏͏ through͏͏ several͏͏ initiatives,͏͏ including͏͏ expanding͏͏ BL͏͏ Agro͏͏ into͏͏ Jharkhand͏͏ and͏͏ launching͏͏ a͏͏ millet-based͏͏ venture͏͏ to͏͏ support͏͏ tribal͏͏ communities.͏͏ Under͏͏ BL͏͏ Kamadhenu,͏͏ it͏͏ is͏͏ developing͏͏ a͏͏ model͏͏ dairy͏͏ farm͏͏ and͏͏ IVF͏͏ lab͏͏ with͏͏ 5,000͏͏ indigenous͏͏ cows.͏͏ Additionally,͏͏ it͏͏ plans͏͏ to͏͏ open͏͏ an͏͏ integrated͏͏ milk͏͏ processing͏͏ unit͏͏ with͏͏ a͏͏ capacity͏͏ of͏͏ 300,000͏͏ litres͏͏ per͏͏ day͏͏ and͏͏ a͏͏ cattle͏͏ feed͏͏ manufacturing͏͏ unit͏͏ producing͏͏ 7,500͏͏ metric͏͏ tonnes͏͏ of͏͏ balanced͏͏ feed͏͏ monthly.

“We͏͏ don’t͏͏ view͏͏ ‘Vision͏͏ 2030’͏͏ as͏͏ just͏͏ a͏͏ growth͏͏ plan;͏͏ it’s͏͏ a͏͏ commitment͏͏ to͏͏ driving͏͏ meaningful͏͏ change͏͏ across͏͏ the͏͏ agri-food͏͏ chain.͏͏ By͏͏ investing͏͏ in͏͏ innovative͏͏ solutions͏͏ like͏͏ dairy͏͏ technology,͏͏ sustainable͏͏ fodder͏͏ production,͏͏ and͏͏ space-tech-driven͏͏ analytics,͏͏ we’re͏͏ creating͏͏ a͏͏ future͏͏ where͏͏ every͏͏ part͏͏ of͏͏ the͏͏ chain͏͏ is͏͏ more͏͏ efficient,͏͏ sustainable,͏͏ and͏͏ beneficial͏͏ for͏͏ both͏͏ farmers͏͏ and͏͏ consumers,”͏͏ he͏͏ said.

The͏͏ company͏͏ plans͏͏ to͏͏ invest͏͏ INR͏͏ 1,000͏͏ crore͏͏ to͏͏ expand͏͏ its͏͏ BL͏͏ Kamadhenu͏͏ brand.

“We͏͏ will͏͏ invest͏͏ INR͏͏ 200͏͏ crore͏͏ in͏͏ developing͏͏ the͏͏ research͏͏ centre,͏͏ INR͏͏ 200͏͏ crore͏͏ in͏͏ establishing͏͏ a͏͏ compressed͏͏ biogas͏͏ plant,͏͏ INR͏͏ 100͏͏ crore͏͏ in͏͏ purchasing͏͏ cows,͏͏ and͏͏ INR͏͏ 500͏͏ crore͏͏ will͏͏ be͏͏ allocated͏͏ for͏͏ importing͏͏ embryos͏͏ to͏͏ enhance͏͏ the͏͏ cow͏͏ breed,”͏͏ he͏͏ explained.

“Currently,͏͏ the͏͏ projected͏͏ investment͏͏ for͏͏ the͏͏ next͏͏ two͏͏ years͏͏ is͏͏ INR͏͏ 1,000͏͏ crore,͏͏ which͏͏ may͏͏ increase͏͏ by͏͏ INR͏͏ 100-200͏͏ crore,”͏͏ he͏͏ added.

Milk͏͏ Processing͏͏ Plant͏͏ Launch͏͏ by͏͏ 2028:

The͏͏ company͏͏ is͏͏ establishing͏͏ a͏͏ milk͏͏ processing͏͏ plant͏͏ with͏͏ a͏͏ capacity͏͏ of͏͏ 3͏͏ lakh͏͏ litres͏͏ per͏͏ day,͏͏ expected͏͏ to͏͏ be͏͏ operational͏͏ by͏͏ 2028.

Continue͏͏ Exploring:͏͏ Indian͏͏ FMCG giant BL Agro announces͏͏ INR͏͏ 1,000͏͏ crore͏͏ investment͏͏ in͏͏ dairy͏͏ industry

“We͏͏ will͏͏ use͏͏ this͏͏ milk͏͏ to͏͏ produce͏͏ cheese͏͏ and͏͏ protein͏͏ shakes,͏͏ launching͏͏ them͏͏ under͏͏ Nourish’s͏͏ premium͏͏ category.͏͏ In͏͏ the͏͏ future,͏͏ we͏͏ also͏͏ plan͏͏ to͏͏ introduce͏͏ yogurt,”͏͏ said͏͏ Navneet͏͏ Ravikar,͏͏ Director͏͏ of͏͏ BL͏͏ Kamadhenu.

“We͏͏ expect͏͏ to͏͏ see͏͏ a͏͏ return͏͏ on͏͏ investment͏͏ for͏͏ BL͏͏ Kamadhenu͏͏ by͏͏ 2030,”͏͏ he͏͏ added.

Revenue͏͏ Growth͏͏ Projections:

The͏͏ company,͏͏ which͏͏ recorded͏͏ INR͏͏ 6,000͏͏ crore͏͏ in͏͏ revenue͏͏ last͏͏ fiscal͏͏ year,͏͏ is͏͏ aiming͏͏ for͏͏ INR͏͏ 7,500͏͏ crore͏͏ in͏͏ revenue͏͏ this͏͏ year.

By͏͏ 2030,͏͏ BL͏͏ Agro’s͏͏ manufacturing͏͏ capacity͏͏ will͏͏ be͏͏ 90%͏͏ utilised.͏͏ In͏͏ 2025,͏͏ the͏͏ company͏͏ will͏͏ add͏͏ another͏͏ manufacturing͏͏ unit͏͏ for͏͏ Nourish.

“We͏͏ will͏͏ invest͏͏ INR͏͏ 500͏͏ crore͏͏ to͏͏ quadruple͏͏ our͏͏ capacity.͏͏ Currently,͏͏ we͏͏ produce͏͏ 4,000͏͏ tonnes͏͏ of͏͏ food͏͏ products͏͏ under͏͏ Nourish͏͏ and͏͏ 3,000͏͏ metric͏͏ tonnes͏͏ of͏͏ oil͏͏ under͏͏ Bail͏͏ Kolhu,”͏͏ Khandelwal͏͏ explained.

New͏͏ Product͏͏ Launches͏͏ on͏͏ the͏͏ Horizon:

The͏͏ brand͏͏ currently͏͏ offers͏͏ 80͏͏ SKUs͏͏ under͏͏ Nourish͏͏ and͏͏ 7͏͏ SKUs͏͏ under͏͏ Bail͏͏ Kolhu.

“Once͏͏ the͏͏ new͏͏ manufacturing͏͏ unit͏͏ is͏͏ established,͏͏ we͏͏ will͏͏ introduce͏͏ 7-8͏͏ new͏͏ SKUs͏͏ in͏͏ categories͏͏ such͏͏ as͏͏ pickles,͏͏ honey,͏͏ and͏͏ pasta,͏͏ among͏͏ others,”͏͏ Khandelwal͏͏ added.

Continue͏͏ Exploring:͏͏ BL Agro announces͏͏ INR͏͏ 500͏͏ Crore͏͏ investment͏͏ in͏͏ Telangana,͏͏ signs͏͏ MoU͏͏ with͏͏ govt͏͏ to͏͏ establish͏͏ manufacturing͏͏ unit͏͏ for͏͏ Nourish͏͏ brand͏͏ products

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Nykaa completes acquisition of additional 39% stake in Dot & Key for INR 265.3 Cr

By
M Haziq Pandit
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0
Nykaa

Nykaa, a leading player in beauty and e-commerce, has completed the acquisition of an additional 39% stake in Kolkata-based skincare brand Dot & Key for INR 265.3 crore.

Stake͏͏ Increase͏͏ to͏͏ 90%:

Following͏͏ the͏͏ latest͏͏ transaction,͏͏ Nykaa’s͏͏ stake͏͏ in͏͏ Dot͏͏ &͏͏ Key͏͏ has͏͏ risen͏͏ to͏͏ 90%,͏͏ up͏͏ from͏͏ 51%͏͏ previously,͏͏ as͏͏ stated͏͏ in͏͏ an͏͏ exchange͏͏ filing͏͏ on͏͏ Saturday͏͏ (September͏͏ 21).

Last͏͏ month,͏͏ Nykaa͏͏ announced͏͏ its͏͏ plan͏͏ to͏͏ acquire͏͏ 5.29͏͏ lakh͏͏ equity͏͏ shares͏͏ of͏͏ Dot͏͏ &͏͏ Key͏͏ from͏͏ promoters͏͏ and͏͏ existing͏͏ shareholders.

Continue͏͏ Exploring:͏͏ Nykaa to͏͏ increase͏͏ stake͏͏ in͏͏ Dot & Key and͏͏ Earth͏͏ Rhythm͏͏ with͏͏ INR͏͏ 309.8͏͏ Cr͏͏ investment

Importantly,͏͏ Dot͏͏ &͏͏ Key͏͏ is͏͏ Nykaa’s͏͏ first͏͏ acquisition͏͏ of͏͏ a͏͏ direct-to-consumer͏͏ (D2C)͏͏ brand,͏͏ having͏͏ initially͏͏ acquired͏͏ a͏͏ 51%͏͏ stake͏͏ in͏͏ 2021.

Founded͏͏ in͏͏ 2018,͏͏ Dot͏͏ &͏͏ Key͏͏ offers͏͏ unique͏͏ skincare͏͏ solutions.͏͏ Nykaa͏͏ has͏͏ previously͏͏ indicated͏͏ that͏͏ the͏͏ brand͏͏ has͏͏ been͏͏ profitable͏͏ since͏͏ the͏͏ fourth͏͏ quarter͏͏ of͏͏ the͏͏ 2022-23͏͏ financial͏͏ year.͏͏ In͏͏ FY24,͏͏ Dot͏͏ &͏͏ Key’s͏͏ revenue͏͏ soared͏͏ by͏͏ 244%,͏͏ reaching͏͏ INR͏͏ 198.3͏͏ crore,͏͏ up͏͏ from͏͏ INR͏͏ 57.7͏͏ crore͏͏ the͏͏ previous͏͏ year.

Nykaa’s͏͏ Continued͏͏ Investment͏͏ Strategy:

In͏͏ its͏͏ Q1͏͏ FY25͏͏ earnings͏͏ statement,͏͏ Nykaa͏͏ founder͏͏ and͏͏ chairman͏͏ Falguni͏͏ Nayar͏͏ remarked,͏͏ “This͏͏ has͏͏ been͏͏ a͏͏ fantastic͏͏ investment͏͏ for͏͏ Nykaa,͏͏ which͏͏ is͏͏ why͏͏ we’ve͏͏ decided͏͏ to͏͏ acquire͏͏ an͏͏ additional͏͏ 39%͏͏ stake.͏͏ What͏͏ we͏͏ appreciate͏͏ about͏͏ Dot͏͏ &͏͏ Key͏͏ is͏͏ its͏͏ differentiated͏͏ product͏͏ range,͏͏ along͏͏ with͏͏ its͏͏ innovative͏͏ and͏͏ patented͏͏ packaging͏͏ that͏͏ stands͏͏ out͏͏ in͏͏ the͏͏ market.”

Additional͏͏ Stake͏͏ in͏͏ Earth͏͏ Rhythm:

In͏͏ addition͏͏ to͏͏ Dot͏͏ &͏͏ Key,͏͏ Nykaa͏͏ has͏͏ also͏͏ announced͏͏ plans͏͏ to͏͏ acquire͏͏ an͏͏ additional͏͏ stake͏͏ in͏͏ beauty͏͏ brand͏͏ Earth͏͏ Rhythm͏͏ for͏͏ INR͏͏ 44.5͏͏ crore,͏͏ with͏͏ the͏͏ deal͏͏ expected͏͏ to͏͏ be͏͏ finalized͏͏ by͏͏ September͏͏ 2025.

Established͏͏ in͏͏ 2019,͏͏ Earth͏͏ Rhythm͏͏ is͏͏ a͏͏ direct-to-consumer͏͏ (D2C)͏͏ skincare͏͏ and͏͏ beauty͏͏ brand͏͏ offering͏͏ over͏͏ 250͏͏ SKUs.͏͏ Its͏͏ revenue͏͏ increased͏͏ by͏͏ 20.3%͏͏ to͏͏ INR͏͏ 30.7͏͏ crore͏͏ in͏͏ FY24,͏͏ up͏͏ from͏͏ INR͏͏ 24.5͏͏ crore͏͏ in͏͏ FY23.

It’s͏͏ important͏͏ to͏͏ note͏͏ that͏͏ Nykaa͏͏ acquired͏͏ an͏͏ 18.6%͏͏ stake͏͏ in͏͏ Earth͏͏ Rhythm͏͏ in͏͏ 2022.

These͏͏ acquisitions͏͏ are͏͏ part͏͏ of͏͏ Nykaa’s͏͏ broader͏͏ strategy͏͏ to͏͏ enhance͏͏ its͏͏ presence͏͏ in͏͏ India’s͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ sector—a͏͏ rapidly͏͏ growing͏͏ market͏͏ projected͏͏ to͏͏ reach͏͏ $28͏͏ billion͏͏ by͏͏ 2030,͏͏ representing͏͏ 7%͏͏ of͏͏ the͏͏ e-commerce͏͏ market.

To͏͏ boost͏͏ its͏͏ revenue͏͏ and͏͏ attract͏͏ more͏͏ customers,͏͏ Nykaa͏͏ has͏͏ expanded͏͏ its͏͏ same-day͏͏ and͏͏ next-day͏͏ delivery͏͏ services.͏͏ During͏͏ the͏͏ company’s͏͏ 12th͏͏ annual͏͏ general͏͏ meeting,͏͏ CEO͏͏ Nayar͏͏ announced͏͏ that͏͏ Nykaa͏͏ is͏͏ now͏͏ delivering͏͏ 60%͏͏ of͏͏ its͏͏ orders͏͏ the͏͏ following͏͏ day͏͏ in͏͏ the͏͏ top͏͏ 110͏͏ cities,͏͏ which͏͏ represent͏͏ two-thirds͏͏ of͏͏ the͏͏ company’s͏͏ total͏͏ order͏͏ volumes.

Continue͏͏ Exploring:͏͏ Nykaa’s͏͏ Q1͏͏ FY25͏͏ net͏͏ profit͏͏ soars͏͏ 152%͏͏ to͏͏ INR͏͏ 13.6͏͏ Cr;͏͏ revenue͏͏ up͏͏ 22.8%

Expansion͏͏ into͏͏ the͏͏ Middle͏͏ East͏͏ Market:

The͏͏ e-commerce͏͏ giant͏͏ has͏͏ been͏͏ ramping͏͏ up͏͏ its͏͏ efforts͏͏ to͏͏ expand͏͏ its͏͏ presence͏͏ in͏͏ the͏͏ Middle͏͏ East.͏͏ Nykaa͏͏ has͏͏ established͏͏ two͏͏ new͏͏ subsidiaries͏͏ in͏͏ Qatar͏͏ and͏͏ Saudi͏͏ Arabia͏͏ under͏͏ the͏͏ brand͏͏ name͏͏ Nysaa,͏͏ aiming͏͏ to͏͏ capitalise͏͏ on͏͏ market͏͏ opportunities͏͏ in͏͏ the͏͏ Gulf͏͏ Cooperation͏͏ Council͏͏ (GCC)͏͏ region.

The͏͏ GCC͏͏ boasts͏͏ an͏͏ impressive͏͏ per͏͏ capita͏͏ spending͏͏ of͏͏ $500͏͏ per͏͏ year͏͏ on͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ products,͏͏ making͏͏ it͏͏ one͏͏ of͏͏ the͏͏ highest͏͏ in͏͏ the͏͏ world.

Continue͏͏ Exploring:͏͏ Nykaa strengthens͏͏ GCC͏͏ footprint͏͏ with͏͏ new͏͏ subsidiary͏͏ Nysaa͏͏ Trading͏͏ LLC͏͏ in͏͏ Saudi͏͏ Arabia

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GlobalBees acquires additional 22.5% stake in Solarista for INR 5.88 Cr

By
M Haziq Pandit
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0
GlobalBees
GlobalBees

GlobalBees,͏͏ a͏͏ subsidiary͏͏ of͏͏ kids-focused͏͏ omnichannel͏͏ retailer͏͏ FirstCry,͏͏ has͏͏ increased͏͏ its͏͏ stake͏͏ in͏͏ Solarista͏͏ Renewables,͏͏ which͏͏ sells͏͏ bags͏͏ and͏͏ rainwear͏͏ under͏͏ the͏͏ brand͏͏ ‘The͏͏ Clownfish’,͏͏ by͏͏ acquiring͏͏ an͏͏ additional͏͏ 22.5%͏͏ for͏͏ INR͏͏ 5.88͏͏ crore͏͏ in͏͏ an͏͏ all-cash͏͏ transaction.

This͏͏ investment͏͏ comes͏͏ after͏͏ a͏͏ shareholder͏͏ agreement͏͏ made͏͏ in͏͏ April͏͏ 2022,͏͏ raising͏͏ GlobalBees’͏͏ total͏͏ stake͏͏ in͏͏ Solarista͏͏ to͏͏ 75%,͏͏ as͏͏ noted͏͏ in͏͏ an͏͏ exchange͏͏ filing.

Solarista’s͏͏ Growth͏͏ in͏͏ Revenue:

Solarista͏͏ Renewables͏͏ recorded͏͏ a͏͏ turnover͏͏ of͏͏ INR͏͏ 34.18͏͏ crore͏͏ for͏͏ the͏͏ fiscal͏͏ year͏͏ 2023-24,͏͏ marking͏͏ a͏͏ substantial͏͏ increase͏͏ from͏͏ INR͏͏ 22.5͏͏ crore͏͏ in͏͏ 2021-22.

Additionally,͏͏ the͏͏ deal͏͏ was͏͏ executed͏͏ at͏͏ arm’s͏͏ length,͏͏ indicating͏͏ that͏͏ it͏͏ was͏͏ carried͏͏ out͏͏ fairly,͏͏ without͏͏ any͏͏ preferential͏͏ arrangements͏͏ between͏͏ the͏͏ parties͏͏ involved.

Continue͏͏ Exploring:͏͏ GlobalBees acquires͏͏ additional͏͏ 23%͏͏ in͏͏ Frootle͏͏ and͏͏ Wellspire͏͏ India,͏͏ raising͏͏ stake͏͏ to͏͏ 74%

FirstCry’s͏͏ Investment͏͏ in͏͏ UAE͏͏ Subsidiary:

This͏͏ investment͏͏ follows͏͏ closely͏͏ on͏͏ the͏͏ heels͏͏ of͏͏ FirstCry’s͏͏ parent͏͏ company,͏͏ Brainbees͏͏ Solutions͏͏ Limited,͏͏ announcing͏͏ an͏͏ investment͏͏ of͏͏ AED͏͏ 50͏͏ million͏͏ (approximately͏͏ INR͏͏ 114.1͏͏ crore)͏͏ in͏͏ its͏͏ UAE͏͏ subsidiary,͏͏ FirstCry͏͏ Management͏͏ DWC͏͏ LLC.

Q1͏͏ FY25͏͏ Financial͏͏ Performance:

Notably,͏͏ Brainbees͏͏ Solutions͏͏ reduced͏͏ its͏͏ consolidated͏͏ net͏͏ loss͏͏ by͏͏ 31%͏͏ in͏͏ Q1͏͏ FY25,͏͏ bringing͏͏ it͏͏ down͏͏ to͏͏ INR͏͏ 75.68͏͏ crore,͏͏ compared͏͏ to͏͏ INR͏͏ 110.42͏͏ crore͏͏ in͏͏ the͏͏ same͏͏ period͏͏ last͏͏ year.

Operating͏͏ revenue͏͏ grew͏͏ by͏͏ 10%,͏͏ reaching͏͏ INR͏͏ 1,652.07͏͏ crore,͏͏ up͏͏ from͏͏ INR͏͏ 1,496.93͏͏ crore͏͏ in͏͏ Q1͏͏ FY24.

However,͏͏ FirstCry’s͏͏ losses͏͏ jumped͏͏ by͏͏ 75%͏͏ in͏͏ the͏͏ latest͏͏ quarter͏͏ compared͏͏ to͏͏ the͏͏ previous͏͏ one,͏͏ increasing͏͏ from͏͏ INR͏͏ 43.26͏͏ crore͏͏ in͏͏ Q4͏͏ FY24.͏͏ Operating͏͏ revenue͏͏ also͏͏ saw͏͏ a͏͏ slight͏͏ decline͏͏ of͏͏ 0.8%,͏͏ down͏͏ from͏͏ INR͏͏ 1,666.85͏͏ crore͏͏ in͏͏ the͏͏ March͏͏ quarter.

These͏͏ figures͏͏ mark͏͏ the͏͏ company’s͏͏ first͏͏ revenue͏͏ disclosures͏͏ since͏͏ its͏͏ stock͏͏ market͏͏ debut,͏͏ with͏͏ shares͏͏ quietly͏͏ launching͏͏ on͏͏ August͏͏ 6͏͏ amid͏͏ equity͏͏ market͏͏ volatility͏͏ driven͏͏ by͏͏ global͏͏ headwinds.

FirstCry’s͏͏ IPO͏͏ was͏͏ 11%͏͏ subscribed͏͏ on͏͏ its͏͏ first͏͏ day,͏͏ mainly͏͏ led͏͏ by͏͏ employee͏͏ bids.͏͏ BSE͏͏ data͏͏ reveals͏͏ that͏͏ 53.43͏͏ lakh͏͏ shares͏͏ were͏͏ bid͏͏ for,͏͏ out͏͏ of͏͏ the͏͏ 4.96͏͏ crore͏͏ shares͏͏ available.

Currently,͏͏ FirstCry’s͏͏ shares͏͏ are͏͏ trading͏͏ at͏͏ INR͏͏ 650,͏͏ reflecting͏͏ an͏͏ increase͏͏ of͏͏ approximately͏͏ 18.38%͏͏ from͏͏ its͏͏ issue͏͏ price͏͏ of͏͏ INR͏͏ 549.

Continue͏͏ Exploring:͏͏ E-commerce͏͏ roll-up͏͏ firm͏͏ GlobalBees secures͏͏ $18͏͏ Mn͏͏ in͏͏ debt͏͏ funding͏͏ from͏͏ Avendus

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