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Hans India
2 hours ago
- Hans India
FirstCry parent Brainbees' net loss stands at Rs 66.5 crore in Q1
Mumbai: Omnichannel kidswear brand FirstCry's parent company, Brainbees Solutions, on Wednesday reported a consolidated net loss of Rs 66.5 crore for the first quarter (Q1) of FY26. This is 12 per cent lower than the Rs 75.6 crore loss recorded in the same quarter previous year (Q1 FY25), according to its stock exchange filing. On a sequential basis, the loss fell sharply by 41 per cent from Rs 111.5 crore in the previous March quarter (Q4 FY25). The company's operating revenue for the April–June quarter rose 13 per cent year-on-year (YoY) to Rs 1,862.6 crore, compared to Rs 1,652.1 crore a year ago. However, revenue slipped 3.5 per cent from Rs 1,930.3 crore in the preceding quarter, the company stated in its regulatory filing. Including other income of Rs 48.4 crore, the total income increased 14 per cent YoY to Rs 1,911 crore. Total expenses during the quarter grew 14 per cent to Rs 1,829.4 crore. Earnings before interest, tax, depreciation, and amortisation (EBITDA) dropped 33 per cent to Rs 33.10 crore from Rs 49.10 crore in the same period previous year, with the EBITDA margin narrowing to 1.8 per cent from 3 per cent. The company announced its results after market hours. On Wednesday, Brainbees' shares closed 0.07 per cent lower at Rs 374.90 on the National Stock Exchange (NSE), while the benchmark Nifty gained 0.54 per cent. The stock has fallen 44.79 per cent over the past year and 42.50 per cent so far in 2025, as per the official data. Along with its Q1 results, Brainbees said its board has approved an investment of Rs 19.96 crore in Globalbees Brands Private Limited, a key subsidiary. The investment will be made from the company's IPO proceeds. Globalbees operates in multiple consumer categories, including beauty, home care, personal care, nutrition and wellness, fashion jewellery, eyewear, health and fitness, sports, and home and kitchen appliances.
Economic Times
3 hours ago
- Economic Times
Probe link between Noida officials and landowners, says SC
Supreme Court Synopsis The Supreme Court has mandated a preliminary investigation into potential collusion between Noida officials and landowners concerning land acquisition payouts. This action follows a resumed hearing regarding inflated compensation to ineligible landowners. A special investigation team (SIT) consisting of three IPS officers will probe irregularities, examining financial trails and asset acquisitions to ascertain any collusion. The Supreme Court on Wednesday ordered a preliminary inquiry into an alleged collusion between Noida officials and landowners on land acquisition payouts. The development took place during the resumed hearing of a case linked to alleged inflated compensation to ineligible landowners. ADVERTISEMENT A bench comprising justice Surya Kant and justice Joymalya Bagchi ordered the constitution of a special investigation team comprising three IPS officers to probe irregularities in the land acquisition payouts. The bench ordered an inquiry after perusing a report of an SIT - set up earlier - which flagged shortcomings in the functioning of Noida Authority. The court said that no new building projects should be taken up in Noida without environment impact assessment (EIA) clearance and permission from the green bench of the Supreme Court, which hears cases related to the environment. The new three-member SIT will replace the earlier one and will work on a new mandate. ON financial trail The previous SIT's findings pointed out excessive payments in 20 cases and said some Noida officials were suspected of involvement. The new SIT has been asked to examine financial trails, including bank accounts of officials, their families and landowners, as well as assets acquired during the period in question, to ascertain collusion. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online. NEXT STORY
Economic Times
8 hours ago
- Economic Times
Vikram Solar says co evaluating plans to set up manufacturing unit in the US
Representative image. Solar photovoltaic modules maker Vikram Solar is evaluating plans to set up operations in the US, company chairman and managing director Gyanesh Chaudhary told ET. "We are evaluating our plans to set up operations in the US and looking at how things will pan out in the light of the tariffs," Chaudhary said on to sources, Vikram Solar was planning to invest around $1.5 billion in setting up a 3 GW (gigawatt) solar photovoltaic modules plant in the US as part of the company's expansion plan of 15.5 GW module and 5 GW cell capacity by fiscal year however declined to comment on the investments being planned in the possible US facility. The company, which has filed a draft prospectus for its initial public offer, has a 4.5 GW module manufacturing capacity across its two plants in Bengal and Tamil Nadu. It has a sales office in the US which is also its largest export market, contributing around 61.10% of the company's total revenue from operations as of Wednesday the company fixed a price band of Rs 315 to Rs 332 per share for its upcoming Rs 2,079 crore initial public offering (IPO). The Kolkata-based firm's maiden public issue would open for subscription on August 19 and conclude on August 21, it IPO will include fresh issues of equities worth up to Rs 1,500 crore and an offer for sale (OFS) of over 1.74 crore shares valued at around Rs 579.37 crore at the upper end of the price band, by its promoters. Of the fresh issuance, the company plans to use the proceeds for funding capital expenditure for investment in its wholly owned subsidiary, VSL Green Power Private Ltd, for both Phase I and Phase II of the project. Vikram Solar commenced its manufacturing operations in 2009 with an installed solar PV module manufacturing capacity of 12 MW, grown to 4.50 GW installed capacity as of the date. The company said its key domestic customers include prominent government entities, such as NTPC, Neyveli Lignite Corporation, and Gujarat Industries Power Company and private independent power producers (IPPs), like ACME Cleantech Solutions Adani Green Energy, Azure Power India, JSW Energy and Rays Power Infra, among others. The company is also planning to enter the battery energy storage systems (BESS) segment as a strategy to diversify its portfolio. It plans to start with a 1 GW BESS facility which will be scaled up to 10 GW or more.
