Latest news with #NitinAgarwal
Time of India
27-05-2025
- Health
- Time of India
Kerala Stem Cell Donors Recognised Ahead of World Blood Cancer Day
Kochi: Ahead of World Blood Cancer Day , non profit organisation DKMS Foundation India recognized eight blood stem cell donors from Kerala for their contribution to patients battling blood cancer and other blood disorders. At an event held in Kochi, the donors were felicitated for their life-saving stem cell donations. DKMS Foundation utilsed the occasion to encourage more people to register as potential stem cell donors. Dr. Nitin Agarwal, Transfusion Medicine, HoD, Donor Request Management, DKMS Foundation India, said: 'Misconceptions that stem cell donation is painful or harmful continue to discourage many from registering. The procedure is safe, straightforward, and has no lasting impact on the donor's health. By spreading awareness and addressing these fears, we can motivate more people to become lifesaving donors.'
Time of India
27-05-2025
- 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
26-05-2025
- 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
26-05-2025
- 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.
Time of India
15-05-2025
- Business
- Time of India
Nobel Hygiene raises Rs 170 cr from Neo Asset Management
New Delhi: Disposable hygiene products company Nobel Hygiene has raised approximately Rs 170 crore (USD 20 million) from Neo Asset Management , it said in a media release on Thursday. The funding includes a mix of primary and secondary investment and comes as the company prepares for its IPO . The capital will be used to strengthen Nobel's leadership in the adult diaper market , expand distribution, and invest in flagship brands Friends and Teddyy. Neo joins existing investors Quadria Capital and Sixth Sense Ventures. 'This investment by Neo Group is not just a capital infusion; it's a reinforcement of our commitment to lead and grow the adult diaper category in India. With this support, we are ready to amplify our consumer outreach, reinforce our distribution channels, and further solidify the leadership of our core brands, Friends adult diapers and Teddyy baby diapers,' said Kamal Johari, MD and Promoter at Nobel Hygiene. Nitin Agarwal, head of private equity at Neo and a former Board member at Nobel, returns to the cap table with this round. 'We have strong confidence in the team and the brand's long-term potential,' he said. Founded in 2000, Nobel claims over 40 per cent share of India's adult diaper market and operates two manufacturing facilities. The adult diaper market in India is projected to reach USD 1 billion by 2030, growing at a 25 per cent CAGR.
