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Time of India
4 days ago
- Business
- Time of India
FirstCry parent's Q4 net loss widens 2.5x to Rs 111.5 crore despite revenue growth
Brainbees Solutions , the parent company of mother and baby care products retailer FirstCry , reported a subdued performance for the quarter ended March 31, with its consolidated net loss widening 2.5 times year-on-year (YoY) to Rs 111.5 crore, compared to Rs 43 crore in the same period last year. The Pune-based company's consolidated operating revenue, however, rose 16% YoY to Rs 1,930.3 crore during the quarter. FirstCry's India multi-channel business generated revenue of Rs 1,337.3 crore, an 11.5% increase from Rs 1,198.9 crore in the year-ago period. Its house-of-brands subsidiary, GlobalBees, recorded a 33.4% rise in operating revenue to Rs 398.4 crore, despite a broader consumption slowdown. The company's international business also grew 11.2% YoY, with revenue reaching Rs 205.3 crore. 'We feel we should have delivered more both in India multi-channel and even in the international (business). The other two segments have done well. We want to expand our Ebitda margins faster in GlobalBees, as the business is still small… Also, in the India multi-channel, especially offline, we would like to see better performance,' CEO Supam Maheshwari said during the company's earnings call. Despite revenue growth across business segments, consolidated expenses increased to Rs 1,914.4 crore, up from Rs 1,633.7 crore in the previous quarter. The cost of materials consumed surged 59.8% to Rs 222.8 crore, while employee benefit expenses rose 6.5% to Rs 147 crore. During the quarter, Nitin Agarwal stepped down as CEO of GlobalBees, with Anuj Jain taking over the role. The company's board, in line with a decision made on March 25, approved additional investments in GlobalBees. FirstCry had earlier cleared an investment of up to Rs 146 crore in GlobalBees through the subscription of compulsorily convertible preference shares (CCPS). As per a valuation report, the final amount stood at Rs 1,46,00,94,000, including an incremental investment of Rs 94,000 as part of this total, the company said. The board also approved a fresh investment to support the company's international expansion. FirstCry will invest up to AED 32 million (approximately Rs 74.1 crore) in its wholly owned subsidiary FirstCry Management DWC LLC. Of this, around SAR 28 million (Rs 63.5 crore) will be infused by this entity into FirstCry Trading Company for business expansion, with the remainder going to FirstCry Retail DWC LLC, UAE. FirstCry, which listed on the bourses on August 13, debuted at a 40% premium over its issue price of Rs 549. The SoftBank and Premji Invest-backed company claims to have an annual transacting consumer base of 10.6 million. It offers 1.8 million stock-keeping units (SKUs) from 8,019 brands on its platform. The company offers a wide portfolio of products, including apparel, footwear, baby gear, nursery items, diapers, toys, and personal care, sourced from Indian third-party brands, global brands, and its own private labels. Its in-house brands include Pine Kids, Cute Walk, and Babyoye. Shares of FirstCry closed nearly flat at Rs 375.2 on the BSE on Monday.
Economic Times
5 days ago
- Business
- Economic Times
FirstCry parent's Q4 net loss widens 2.5X to Rs 111.5 crore despite revenue growth
Brainbees Solutions, the parent company of mother and baby care products retailer FirstCry, reported a subdued performance for the quarter ended March 31, with its consolidated net loss widening 2.5 times year-on-year (YoY) to Rs 111.5 crore, compared to Rs 43 crore in the same period last Pune-based company's consolidated operating revenue, however, rose 16% YoY to Rs 1,930.3 crore during the India multi-channel business generated revenue of Rs 1,337.3 crore, an 11.5% increase from Rs 1,198.9 crore in the year-ago period. Its house-of-brands subsidiary, GlobalBees, recorded a 33.4% rise in operating revenue to Rs 398.4 crore, despite a broader consumption slowdown. The company's international business also grew 11.2% YoY, with revenue reaching Rs 205.3 crore. 'We feel we should have delivered more both in India multi-channel and even in the international (business). The other two segments have done well. We want to expand our Ebitda margins faster in GlobalBees, as the business is still small… Also, in the India multi-channel, especially offline, we would like to see better performance,' CEO Supam Maheshwari said during the company's earnings call. Despite revenue growth across business segments, consolidated expenses increased to Rs 1,914.4 crore, up from Rs 1,633.7 crore in the previous quarter. The cost of materials consumed surged 59.8% to Rs 222.8 crore, while employee benefit expenses rose 6.5% to Rs 147 crore. During the quarter, Nitin Agarwal stepped down as CEO of GlobalBees, with Anuj Jain taking over the role. The company's board, in line with a decision made on March 25, approved additional investments in GlobalBees. FirstCry had earlier cleared an investment of up to Rs 146 crore in GlobalBees through the subscription of compulsorily convertible preference shares (CCPS). As per a valuation report, the final amount stood at Rs 1,46,00,94,000, including an incremental investment of Rs 94,000 as part of this total, the company board also approved a fresh investment to support the company's international expansion. FirstCry will invest up to AED 32 million (approximately Rs 74.1 crore) in its wholly owned subsidiary FirstCry Management DWC LLC. Of this, around SAR 28 million (Rs 63.5 crore) will be infused by this entity into FirstCry Trading Company for business expansion, with the remainder going to FirstCry Retail DWC LLC, which listed on the bourses on August 13, debuted at a 40% premium over its issue price of Rs 549. The SoftBank and Premji Invest-backed company claims to have an annual transacting consumer base of 10.6 million. It offers 1.8 million stock-keeping units (SKUs) from 8,019 brands on its platform. The company offers a wide portfolio of products, including apparel, footwear, baby gear, nursery items, diapers, toys, and personal care, sourced from Indian third-party brands, global brands, and its own private labels. Its in-house brands include Pine Kids, Cute Walk, and of FirstCry closed nearly flat at Rs 375.2 on the BSE on Monday.
Time of India
5 days ago
- Business
- Time of India
FirstCry parent's Q4 net loss widens 2.5X to Rs 111.5 crore despite revenue growth
Brainbees Solutions , the parent company of mother and baby care products retailer FirstCry , reported a subdued performance for the quarter ended March 31, with its consolidated net loss widening 2.5 times year-on-year (YoY) to Rs 111.5 crore, compared to Rs 43 crore in the same period last year. The Pune-based company's consolidated operating revenue, however, rose 16% YoY to Rs 1,930.3 crore during the quarter. FirstCry's India multi-channel business generated revenue of Rs 1,337.3 crore, an 11.5% increase from Rs 1,198.9 crore in the year-ago period. Its house-of-brands subsidiary, GlobalBees, recorded a 33.4% rise in operating revenue to Rs 398.4 crore, despite a broader consumption slowdown. The company's international business also grew 11.2% YoY, with revenue reaching Rs 205.3 crore. 'We feel we should have delivered more both in India multi-channel and even in the international (business). The other two segments have done well. We want to expand our Ebitda margins faster in GlobalBees, as the business is still small… Also, in the India multi-channel, especially offline, we would like to see better performance,' CEO Supam Maheshwari said during the company's earnings call. Despite revenue growth across business segments, consolidated expenses increased to Rs 1,914.4 crore, up from Rs 1,633.7 crore in the previous quarter. The cost of materials consumed surged 59.8% to Rs 222.8 crore, while employee benefit expenses rose 6.5% to Rs 147 crore. During the quarter, Nitin Agarwal stepped down as CEO of GlobalBees, with Anuj Jain taking over the role. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The company's board, in line with a decision made on March 25, approved additional investments in GlobalBees. FirstCry had earlier cleared an investment of up to Rs 146 crore in GlobalBees through the subscription of compulsorily convertible preference shares (CCPS). As per a valuation report, the final amount stood at Rs 1,46,00,94,000, including an incremental investment of Rs 94,000 as part of this total, the company said. The board also approved a fresh investment to support the company's international expansion. FirstCry will invest up to AED 32 million (approximately Rs 74.1 crore) in its wholly owned subsidiary FirstCry Management DWC LLC. Of this, around SAR 28 million (Rs 63.5 crore) will be infused by this entity into FirstCry Trading Company for business expansion, with the remainder going to FirstCry Retail DWC LLC, UAE. FirstCry, which listed on the bourses on August 13, debuted at a 40% premium over its issue price of Rs 549. The SoftBank and Premji Invest-backed company claims to have an annual transacting consumer base of 10.6 million. It offers 1.8 million stock-keeping units (SKUs) from 8,019 brands on its platform. The company offers a wide portfolio of products, including apparel, footwear, baby gear, nursery items, diapers, toys, and personal care, sourced from Indian third-party brands, global brands, and its own private labels. Its in-house brands include Pine Kids, Cute Walk, and Babyoye. Shares of FirstCry closed nearly flat at Rs 375.2 on the BSE on Monday.
Entrepreneur
09-05-2025
- Business
- Entrepreneur
Three Investor Directors Exit GlobalBees Board Amid Leadership Changes
Representatives from Chiratae Ventures, Lightspeed Venture Partners, and Premji Invest have stepped down from GlobalBees' board, according to the YourStory media sources. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. GlobalBees, the Thrasio-style roll-up commerce venture backed by FirstCry, has witnessed the exit of three key investor board members, signaling continued shifts in its leadership and governance structure. According to a report by YourStory, Sudhir Kumar Sethi of Chiratae Ventures, Harsha Kumar of Lightspeed Venture Partners, and Kaveesh Chawla of Premji Invest have stepped down from the company's board. Sources familiar with the matter revealed that Chawla exited the board in September 2023, while Sethi left prior to the recent announcement of CEO Nitin Agarwal's resignation. Both Sethi and Kumar had joined the GlobalBees board in July 2021, after participating in its USD 150 million Series A funding round led by FirstCry. The departures are reportedly in line with compliance protocols linked to SEBI's Unpublished Price Sensitive Information (UPSI) regulations, which are designed to prevent insider trading based on confidential corporate developments. "Premji and Chiratae are shareholders of FirstCry, and they continue to be part of FirstCry. Their exit is to comply with UPSI rules," said a person aware of the matter. A spokesperson for Premji Invest confirmed the development, stating, "As a matter of general practice, Premji Invest does not hold Board positions in listed companies or their subsidiaries. In line with this principle, Premji Invest had stepped down from the Board of FirstCry and GlobalBees, a subsidiary of FirstCry, several months ago." These changes come on the heels of significant executive churn at GlobalBees. CEO and Director Nitin Agarwal resigned last month, citing personal reasons. Last year, Chief Business Officer Damandeep Soni also departed, later joining AstroTalk in March 2025. Currently, Anuj Jain, formerly SVP of Marketing at FirstCry, is leading GlobalBees' operations. Founded in 2021 by Supam Maheshwari and Agarwal, GlobalBees operates a portfolio of D2C brands across categories such as personal care, fashion accessories, and fitness. The company recorded a consolidated turnover of INR 1,209 crore in FY23. Just last month, FirstCry approved an infusion of INR 146 crore into GlobalBees, to be disbursed over 12 months in multiple tranches.
